The Real Deal: 9-11 Profiteering.
Ferraye files were in the third building destroyed, WTC 7 or Salomon Building,
originally published by Global Research at www.globalresearch.ca
** 22 March 2004 **
The URL of this article is: http://globalresearch.ca/articles/FIT403A.html
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Unanswered Questions : Thinking for ourselves.
9-11 Profiteering
A Framework for Building
the
“Cui Bono?”
UnAnswered Questions
By
Catherine Austin Fitts
“We are
America’s…
-Oldest company
-Largest company
-Busiest company
-Most successful company”
–DOD 101, an introductory overview of the Department of
Defense from their website
(1)
“Pass a law, make a business.”
— Old New Jersey street saying
Something
to Hide
Much has transpired since September 11, 2001.
We have learned that numerous heads
of state and foreign intelligence agencies tried to warn us
before 9-11
(2);We have watched many deeply disturbing
unanswered questions of 9-11 emerge through global Internet
media
(3);We have worked with the 9-11 time-line
(4) and realized that the official explanation of
events is conspiracy theory, not conforming to documented
fact;We have watched the US government
suppress facts and restrict of the 9-11 Commission’s access
to information
(5);We have watched the 9-11 Commission
fail to answer the unanswered questions and concede to
official suppression of information (5) ;We
have watched the leaders of the national security
infrastructure richly rewarded for their failure to protect
America on 9-11
(6);We have noted the material ommissions
of the corporate media
(7);
Something does not
add up. Someone has something to hide.
“Cui
Bono?”
“Cui Bono?” is Latin for “who benefits?”
Is
there a connection between the rich flow of profit and
market manipulations flowing from 9-11 and the stonewalling
by the Administration and the agency members of the National
Security Council?
Time has passed since September 11,
2001. As new budgets are approved, financial statements
published, laws passed, taxes cut and stocks go up, it is
easier to identify who benefited politically and financially
from 9-11.
As we map out the financial “real deal” on
9-11, we realize there are three categories of people
benefiting.
Richly Guilty: The first category of
people who benefited were those who are guilty and complicit
in designing, implementing and financing the 9-11 operation.
On such a sophisticated and successful covert operation, the
people responsible would have had budgets and financing and
would have organized the operation to maximize their
political and financial benefits. This is the nature of
economic warfare.
Richly Opportunistic: The second
category of people who benefited were those who were
opportunistic in taking advantage of 9-11 as an economic and
political event as soon as it happened. Some folks, such as
money managers, are obligated as fiduciaries to be
opportunistic. Others, such as government officials, may be
opportunistic at the cost of ignoring their fiduciary
obligations. As one retired banking executive said, “Let’s
face it, if the guys in Washington had been doing their job
instead of helping their pals make money, 9-11 could never
have happened.”
Sustainably Naïve: The third
category of people who benefited where those who shared in
the political and economic profits generated by the first
two categories. Taking the position that, “money has no
smell,” the large number of people in this category are
generally not cognizant of their complicity through the
incentive system created by “voting with their money, time
and attention.”
Where to begin to determine the specifics
of who benefited? This is a significant task for private
citizens who do not have the rich flow of investigatory,
intelligence and enforcement resources of government. Hence,
a citizen led effort will need to break the task down into
manageable collaborative pieces.
One way for global
networks of researchers, blog authors and Internet media to
start to build the “Cui Bono?” unanswered questions of 9-11
is to develop a framework that outlines the general areas of
profiteering.
Top 20 Areas of 9-11
Profiteering
Here are my candidates for the top twenty
profit flows resulting from or related to 9-11 and the
response to 9-11:
**** # # #
****
Money Missing from the US
Treasury
In fiscal 1999 and 2000, the Department of
Defense (DOD) reported $3.3 trillion of undocumentable
adjustments in the process of failing to produce audited
financial statements. In the summer of 2001, the
appropriations for DOD failed to report out of committee
before the summer recess. The political tension between arms
manufacturers and defense contractors who anticipated pay
back from the Bush election victory and those pressing for
federal spending and financing to conform to spending and
securities law was resolved by 9-11.
The questions remain
– who has the $3.3 trillion plus missing from the US
Treasury? what is the role of the NY Federal Reserve Bank
and its members as depository for the US government and
agent for the Exchange Stabilization Fund? and why are we
proposing to cut back social security rather than getting
these resources back?
Useful Link:
Where is the
Money?
http://www.whereisthemoney.org
US Stock
Market Pump & Dump Fraud
At the time of 9-11, federal
and state enforcement leaders were facing a mountain of
documentation that up to $6 trillion had been fraudulently
skimmed out of pension funds and retail stock holdings
through insider trading and other forms of corporate and
banking financial fraud and securities law violations.
The events of 9-11 are alleged to have destroyed
significant amounts of documentation related to
investigations against Wall Street firms and leading New
York Federal Reserve members. Subsequent to 9-11,
enforcement bureaucracies attention shifted in response to
the Patriot Act and a shift in budgetary resources away from
policing white collar crime by corporate and banking
leadership.
Useful Links:
Le Metropole
Cafe
http://www.lemetropolecafe.com
Sanders
Research Associates
http://www.sandersresearch.com
Scoop
Media
http://www.scoop.co.nz/mason
From
the Wilderness
http:///www.fromthewilderness.com
No More Fake
News
http://www.nomorefakenews.com
Tom
Flocco
http://www.tomflocco.comFederal
Credit Arbitrage & Relaxed Monetary Policy
Financial
institutions who have access to the federal credit can use
such credit to raise deposits and savings from citizens,
paying little or no interest, and then lend it back to the
citizens at much higher interest rates through financing the
US Treasury, mortgage agency securities or in relaxed
lending policies which charge relatively expensive interest
and fees. Hence, it is now a common fact pattern to find
people in America earning 2% on their bank CD’s while their
neighbors are paying Citibank, JP Morgan Chase and the IRS
18% on their debt.
Subsequent to 9-11, these types of
rich federal credit arbitrage profits appear to have
skyrocketed as the facilitating ease in monetary policy was
matched by extraordinary increases in government debt and
easing in consumer debt policies and more industry favorable
bankruptcy and lending laws. In short, 9-11 appears to have
been used by Greenspan and the NY Federal Reserve to promote
the back door liquidation of middle class equity through
federal credit arbitrage.
This kind of manipulation allows
sophisticated financial institutions to “put” their losses
back to the government and the citizens in a “heads we win,
tails we win” economic model which is hard for the
non-financially literate citizen to understand.Useful Links:
Le Metropole Cafe
http://www.lemetropolecafe.com
Sanders
Research Associates
http://www.sandersresearch.com
US Military and Policing Deployment Globally
With
important air cover from 9-11 and the 9-11 response, the
flow of government contracts and economic activity is
diminishing throughout the United States. That is because
our military is being deployed abroad. As these government
contracts and related economic flows move to Eurasia, the
private equity pump and dumps move from onshore to
offshore.
Useful Links:
Centre for Research on
Globalization
http://www.globalresearch.ca
From the Wilderness
http://www.fromthewilderness.com
UnAnswered Questions
re: CSC DynCorp
http://www.scoop.co.nz/mason/stories/HL0304/S00158.htm
Eagle
Eye
http://www.eagleeyeinc.com/
DynCorp wins $1.75 global
policing contract to support
US Department of State $6
billion contact support for civilian policing missions
http://biz.yahoo.com/prnews/040224/latu054_1.html
Scoop
Media
http://www.scoop.co.nz/mason
The
American Tapeworm
http://www.scoop.co.nz/mason/stories/HL0304/S00228.htm
Eurasian Oil & Gas/Afghanistan & Iraq War &
Occupation
The 9-11 response has been used to justify
increased military, political and covert support to ensure
that American and European oil interests are protected in
the Middle East and worldwide.
As part of the 9-11
response, the US has invaded and occupied two sovereign
nations and, in the process, increased war profiteering,
narcotics trafficking and organized crime flows in these
areas.
Of particular concern is the necessity that the
draft will be re-instituted after the Presidential election
and global invasions will continue to subsidize the war
profiteering business model.
This model is essentially
one in which government pays all the expenses, the citizens
give their lands, lives and limbs, and the economic benefits
and private booty flow to a handful of private parties and
their investors. When viewed by age group, it is a war on
the young by the old.
See links above.
Insurance Industry Legislation
After 9-11, the
insurance industry won important legislation that shifts
significant risk from private investors to
citizens.
Useful Link:
Under New Bill, Taxpayers to
Underwrite Insurance Losses
http://www.american-reporter.com/2,307/709.html
Airline & Other Special Legislation
Additional
legislation and special benefits were provided to the
airline industries as well as other corporate and banking
interests. Significant tax cuts would fit into this
category.
Useful Link:
Tom Flocco
http://www.tomflocco.com
Increased
National Security Appropriations
Budgets for the
national security state increased across the board,
including to support its control over domestic functions and
to deploy globally both in space and on land.Useful Link:
Sanders Research Associates
http://www.sandersresearch.com
Commodity &
Financial Market Manipulations
While allegations of
insider trading on 9-11 have circulated in the press, there
has been little comment on the extent to which the 9-11
response supported continued manipulation by the NY Federal
Reserve and its member banks, including through the US
Treasury Exchange Stabilization Fund, of the gold, silver,
stock and other capital markets and the continued build up
of private unregulated derivative positions.Useful Links:
Le Metropole Cafe
http://www.lemetropolecafe.com
Gold
Anti-Trust Action Committee
http://www.gata.org
Is Silver
Scandal on the
Horizon?
http://www.insightmag.com/news/
2004/03/30/National/Is.Silver.Scandal.On.The.Horizon-632699.shtml
Fund Raising for Trusts & Endowments
While
not-for-profits raised a tremendous amount of donations as a
result of 9-11, where the money went is a question. Was it
used to respond to 9-11 or did it enrich endowments that
were reinvested in corporate and bank stocks and the
securities financing the profiteering?
Useful
Link:
The Red Cross in the Cross Hairs?
http://www.insightmag.com/main.cfm?include=detail&storyid=117216
Privatization and Redevelopment of the WTC
The World
Trade Center was sold by the Port Authority of New York and
New Jersey with a transfer of mortgage shortly before 9-11.
Understanding the economics of these transfers, the controls
and economics of the losses and the potential profits of the
redevelopment are essential to understanding what has
happened. Also essential is understanding the various
insurance and security company players who had access to the
building and building specifications, information systems
and archives and the law firms who represent them.Useful Link:
Centre for Research on Globalization
http://www.globalresearch.ca
Airport &
Building Security Contracts
The increase in airport
and building security and the centralizing control of it’s
outsourcing has contributed significantly to the costs of
these facilities, who controls the facilities, flow of
traffic and data and the profits flowing to selective
parties providing these services. A look at the economics of
the related insurance business and premiums is warranted.
Analysis of the average time to move through the facilities
of corporate travelers and their luggage versus
non-corporate travelers and their luggage and who controls
that differential and the related data will be instructive.
Useful Links:
Kroll claims 10,000 building
security assignments after 9-11
http://www.solariactionnetwork.com/phpBB2/viewtopic.php?p=2321#2321
Suppression of the Florida Media Recount & Black Box
Voting
US media canceled the announcement of their
recount of the Florida presidential election as a result of
9-11. Allegedly, this would have raised legitimate questions
as to the Bush Administration’s legitimacy.
After 9-11,
the installation of computer voting systems for which there
is no verifiable paper trail has accelerated. This increases
the chances that Florida type events will increase. The
companies doing the installation appear to be predominantly
Republican owned and controlled.
Profits are generated
both from installation of the system, as well from the
benefits to those who can rig elections as a result. For
example, it is worth estimating the extent to which rigging
the Florida election impacted who got how much 9-11
profits.
Useful Links:
Major Media Suppress
Recount Study of Florida Vote
http://www.washingtonfreepress.org/54/MediaSupress.htm
Scoop
Media’s Black Box Voting Series
http://scoop.co.nz/mason/features/?s=usacoup
Patriot Act Consolidation of Banking & Money Laundering
Market Share
The Patriot Act, available off the shelf
at 9-11, was passed with little legislative access or
discussion. It authorized extraordinary control of financial
cash flows and data about financial cash flows. What is the
value of controlling an estimated $500 billion- $1 trillion
of annual US money laundering?
Retirement Benefit
Privitization & Cutbacks
In the shift to a permanent
war time economy, the alleged insolvency of the Pension
Benefit Corporation, Social Security, the health care system
and the credits behind the mortgage securities and other
securitized consumer debt held in US pension funds and
retirements savings has received short shrift financially
and conversationally.
Corporate Media
It is
essential to understand the impact of 9-11 and the 9-11
response to the market share and profits of corporate media
and the linkages between investors in corporate media and in
the corporations and banks that most benefited from the
policies promoted by corporate media.
HAARP, Ocean,
Space & Satellite Weaponry
Since 9-11, we have watched
the role out of a significant amount of black budget
technology. The intimate militarization of all planetary
air, land, water and oceans and space with electromagnetic,
laser, sonar and other invisible weaponry implies a zero
privacy world for all living things. This is a world where
our thoughts and feelings are not free of 24-7 interference
and influence unless we wish to tunnel deep underground.
Perhaps that is why the black budget is financing so many
underground facilities.
Useful Link:
Dr. Nick
Beglich on HARRP
http://alberta.indymedia.org/news/2002/10/4519.php
Centre
for Research on Globalization
http://www.globalresearch.ca
From the Wilderness
http://www.fromthewilderness.com
Law Firms
Always telling, a review of what law firms
are representing the parties profiting in all the other
categories will say a great deal. Attorney client priveledge
remains the primary railroad to protect the rich flow of
organized crime profits behind national security law.
Lawyers are often the channel for political campaign
contributions and political lobbying as well.Useful Links:
Open Secrets
http://www.opensecrets.org
The American Lawyer Law
100
http://www.law.com/special/professionals/
amlaw/2003/amlaw100/amlaw_100main.html
9-11 and Enron
The crossover between the players
involved in 9-11 profiteering and in Enron’s rise, fall and
clean-up are mystifying. There are linkages here that can
offer important clues if we analyze them as related economic
flows. One hypothesis is that Enron was being used by the NY
Federal Reserve member banks as US Treasury depositories to
launder some of the monies disappearing from the federal
government.
Useful Link:
The Real Deal on
Enron
http://www.scoop.co.nz/mason/stories/HL0304/S00031.htm
Promotions
Who has been promoted following 9-11? The
salaries, stock options, health care and other perks of the
key players both private and public are well worth reviewing
carefully.
Useful Link:
They Let it Happen on
Purpose
http://www.scoop.co.nz/mason/stories/HL0208/S00068.htm****
# # # ****
This list of twenty
profit areas does does not include payments to the 9-11
victims or their families. Such payments have been a
remarkably effective tool to negate the political influence
of the families, and should be viewed economically as an
effective advertising expense relative to the total profit
flows.
For example, the Republican convention is being
held in New York this fall to concide with the 9-11
anniversary. It is essential for this event that the 9-11
families are muted as an independent voice against 9-11
profiteering. The potential failure to do so is a major Bush
Administration political vulnerability.
Invitation to
the “Cui Bono?” Conversation
One opportunity to build
a better understanding of 9-11 will flow from an analysis of
9-11 profiteering. As we understand the profit flows, we can
then drill down to define the banks, companies,
organizations and investors who benefited as well as the
particular individuals in key leadership positions who
profited personally.
In an ideal collaborative research
effort, we would attempt to estimate the total financial
profits and capital gains to the individuals who have
enjoyed the greatest 9-11 benefits. We would also attempt to
ascertain patterns between these benefits. For example, we
would look at the flow of donations into the current
political campaigns. In addition, we would want to
understand the shift of capital from the US to Asia to
finance the outsourcing of US jobs, to finance the
privatization of US government and assets at below market
prices or above market contracts, and to park and enjoy the
freedoms of offshore havens.
The Administration has
something to hide. Rather than lose time and resources
getting lost in the White House fog, let’s follow the
alleged advice of one of the 9-11 Commissioners, Fred
Fielding, thought to be the “deep throat” long ago who
leaked the Watergate secrets while a Deputy White House
Counsel:
“Follow the Money”
*************
ABOUT THE
AUTHOR:
Catherine Austin Fitts is the President
of Solari in Hickory Valley, Tennessee.
Ms. Fitts is a
former managing director and member of the board of
directors of Dillon Read & Co, Inc, a former Assistant
Secretary of Housing-Federal Housing Commissioner in the
first Bush Administration, and President of The Hamilton
Securities Group, Inc.
Ms. Fitts is a member of the
Advisory Board of Sanders Research in London, a founder of
UnAnsweredQuestions.org and publishes The Real
Deal, a column with Scoop Media in New
Zealand.
*************
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*************
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