Ferraye 9/11 and the WTC 7 or Salomon Building,

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
“Cui Bono?”
UnAnswered Questions
Catherine Austin Fitts
“We are
-Oldest company
-Largest company

-Busiest company
-Most successful company”

–DOD 101, an introductory overview of the Department of
Defense from their website

“Pass a law, make a business.”

— Old New Jersey street saying

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
  • We have watched many deeply disturbing
    unanswered questions of 9-11 emerge through global Internet
  • 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
  • We have watched the US government
    suppress facts and restrict of the 9-11 Commission’s access
    to information
  • 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
  • We have noted the material ommissions
    of the corporate media
  • Something does not
    add up. Someone has something to hide.

    “Cui Bono?” is Latin for “who benefits?”
    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
    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
    Top 20 Areas of 9-11

    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

    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


    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
    Useful Links:
    Le Metropole
    Research Associates
    the Wilderness


    No More Fake


    Credit Arbitrage & Relaxed Monetary Policy

    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
    Research Associates

    US Military and Policing Deployment Globally

    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
    Useful Links:
    Centre for Research on


    From the Wilderness


    UnAnswered Questions
    re: CSC DynCorp




    DynCorp wins $1.75 global
    policing contract to support
    US Department of State $6
    billion contact support for civilian policing missions

    American Tapeworm

    Eurasian Oil & Gas/Afghanistan & Iraq War &

    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
    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
    Useful Link:
    Under New Bill, Taxpayers to
    Underwrite Insurance Losses


    Airline & Other Special Legislation

    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
    Useful Link:
    Tom Flocco


    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


    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
    Anti-Trust Action Committee
    Is Silver
    Scandal on the

    Fund Raising for Trusts & Endowments

    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?
    The Red Cross in the Cross Hairs?


    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


    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


    Suppression of the Florida Media Recount & Black Box

    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
    Useful Links:
    Major Media Suppress
    Recount Study of Florida Vote


    Media’s Black Box Voting Series

    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


    for Research on Globalization


    From the Wilderness

    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


    The American Lawyer Law

    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
    Useful Link:
    The Real Deal on


    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
    Useful Link:
    They Let it Happen on


    # # # ****

    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
    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
    “Follow the Money”


    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

    and publishes The Real
    , a column with Scoop Media in New

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