Difference between revisions of "9-11/Insider Trading"
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{{event | {{event | ||
| + | |wikipedia= | ||
| + | |historycommons=http://www.historycommons.org/timeline.jsp?timeline=complete_911_timeline&before_9/11=insiderTrading | ||
|description=A mound of evidence points to insider trading. However, the 9/11 Commission decided not to investigate the matter and the [[SEC]] destroyed important records. | |description=A mound of evidence points to insider trading. However, the 9/11 Commission decided not to investigate the matter and the [[SEC]] destroyed important records. | ||
|image=9-11_insider_trading.jpg | |image=9-11_insider_trading.jpg | ||
| + | |ON_constitutes=Conspiracy theory | ||
|image_width=450px | |image_width=450px | ||
|start=6 September, 2001 | |start=6 September, 2001 | ||
|end=11 September, 2001 | |end=11 September, 2001 | ||
| + | |constitutes=Financial fraud, money laundering?, Insider trading, Third rail topic, Memory holed | ||
}} | }} | ||
| + | '''[[Insider trading]] in advance of [[9/11]]''', using the knowledge of the impending [[false flag]] event, was an option for anyone with [[foreknowledge]]. | ||
| + | |||
==9/11 Commission Report== | ==9/11 Commission Report== | ||
The [[9/11 Commission Report]] mentioned the name of [[Buzzy Krongard]], former executive director of the [[CIA]], stating:<ref>[http://www.fromthewilderness.com/free/ww3/10_09_01_krongard.html Suppressed Details of Criminal Insider Trading Lead Directly Into The CIA's Highest Ranks]</ref> | The [[9/11 Commission Report]] mentioned the name of [[Buzzy Krongard]], former executive director of the [[CIA]], stating:<ref>[http://www.fromthewilderness.com/free/ww3/10_09_01_krongard.html Suppressed Details of Criminal Insider Trading Lead Directly Into The CIA's Highest Ranks]</ref> | ||
| − | {{QB|"A single U.S.-based institutional investor with no conceivable ties to [[al Qaeda]] purchased 95 percent of the [[United Airlines|UAL]] puts on September 6 (2001) as part of a strategy that also included buying 115,000 shares of [[American Airlines|American]] on September 10. Similarly, much of the seemingly suspicious trading on September 10 was traced to a specific U.S.-based options trading newsletter... which recommended these trades."<ref> | + | {{QB|"A single U.S.-based institutional investor with no conceivable ties to [[al Qaeda]] purchased 95 percent of the [[United Airlines|UAL]] puts on September 6 (2001) as part of a strategy that also included buying 115,000 shares of [[American Airlines|American]] on September 10. Similarly, much of the seemingly suspicious trading on September 10 was traced to a specific U.S.-based options trading newsletter... which recommended these trades."<ref>Norton, W.W. (2004). 9/11 Commission Report. p. 499.</ref>}} |
The implied conclusion is that having "no conceivable ties to al Qaeda" the investor could not have had foreknowledge of the attacks. | The implied conclusion is that having "no conceivable ties to al Qaeda" the investor could not have had foreknowledge of the attacks. | ||
==Almost Irrefutable Proof?== | ==Almost Irrefutable Proof?== | ||
| − | The German Central bank studied the possibility of insider trading. According to German central bank president [[Ernst Welteke]], the German researchers found “almost irrefutable proof | + | The [[German Central bank]] studied the possibility of [[insider trading]]. According to German central bank president [[Ernst Welteke]], the German researchers found “almost irrefutable proof of insider trading”.<ref>http://www.historycommons.org/context.jsp?item=aearly0901german#aearly0901german</ref> |
| − | of insider trading”.<ref>http://www.historycommons.org/context.jsp?item=aearly0901german#aearly0901german</ref> | + | The [[Washington Post]] reported on 23rd September [[2001]]:<ref>William Drozdiak, “‘Insider trading’ by terrorists is suspected in Europe”, Miami Herald, September 24, 2001, http://web.archive.org/web/20011109160700/www.miami.com/herald/special/news/worldtrade/digdocs/099922.htm</ref><ref>https://www.washingtonpost.com/archive/politics/2001/09/23/germans-probe-likely-links-between-profits-and-terrorists/1c42fc2d-c092-416c-8594-1e6758b5d86c/ saved at [https://web.archive.org/web/20170827115538/https://www.washingtonpost.com/archive/politics/2001/09/23/germans-probe-likely-links-between-profits-and-terrorists/1c42fc2d-c092-416c-8594-1e6758b5d86c/ Archive.org] saved at [https://archive.ph/wpz5p Archive.is]</ref> |
| − | + | {{QB|Welteke said his researchers came across what he considers almost irrefutable proof of insider trading as recently as Thursday, but he refused to release details pending further consultations with regulators in other countries. | |
| − | + | "What we found makes us sure that people connected to the terrorists must have been trying to profit from this tragedy," he said at a meeting of European finance ministers and central bankers. | |
| + | Besides massive short selling of airlines and insurance stocks, Welteke said "there was a fundamentally inexplicable rise" in world oil prices just before the attacks that suggest certain groups or people were buying oil contracts that were then sold for a much higher price. He said German researchers also detected movements in gold markets "which need explaining." | ||
| + | "If you look at the movements in markets before and after the attacks, it really makes your brow furrow," Welteke said. "It is extremely difficult to really verify it, but we are confident we will be able to pinpoint the source in at least one or two cases."}} | ||
| + | |||
| + | He was ousted in [[2004]].<ref>https://www.handelsblatt.com/politik/konjunktur/portraet-des-ernst-welteke-ein-jaehes-karriere-ende/2321134-all.html saved at [https://web.archive.org/web/20230202135657/https://www.handelsblatt.com/politik/konjunktur/portraet-des-ernst-welteke-ein-jaehes-karriere-ende/2321134-all.html Archive.org] saved at [https://archive.is/EKFcI Archive.is]</ref> | ||
==Cover-up== | ==Cover-up== | ||
| − | The [[SEC]] was active in attempting to cover up evidence of insider trading. There ''was'' a lot of evidence of trading in the run up to [[9/11]] consistent with foreknowledge. David Callahan – executive editor of SmartCEO – submitted a [[Freedom of Information Act]] request to the [[SEC]] regarding the pre-9/11 put options. He was told: "We have been advised that the potentially responsive records have been destroyed." | + | The [[SEC]] was active in attempting to cover up evidence of insider trading. There ''was'' a lot of evidence of trading in the run up to [[9/11]] consistent with foreknowledge. [[David Callahan]] – executive editor of ''[[SmartCEO]]'' – submitted a [[Freedom of Information Act]] request to the [[SEC]] regarding the pre-9/11 put options. He was told: "We have been advised that the potentially responsive records have been destroyed." |
The [[9/11 Commission]] concluded: | The [[9/11 Commission]] concluded: | ||
| − | {{ | + | {{SMWQ |
| − | Footnote 130 to chapter 5 | + | |text=Highly publicized allegations of insider trading in advance of [[9/11]] generally rest on reports of unusual pre-9/11 trading activity in companies whose stock plummeted after the attacks. Some unusual trading did in fact occur, but each such trade proved to have an innocuous explanation. For example, the volume of put options- investments that pay off only when a stock drops in price-surged in the parent companies of United Airlines on September 6 and American Airlines on September 10-highly suspicious trading on its face. Yet, further investigation has revealed that the trading had no connection with 9/11. A single U.S.-based institutional investor with no conceivable ties to [[al Qaeda]] purchased 95 percent of the UAL puts on September 6 as part of a trading strategy that also included buying 115,000 shares of American on September 10. Similarly, much of the seemingly suspicious trading in American on September 10 was traced to a specific U.S.-based options trading newsletter, faxed to its subscribers on Sunday, September 9, which recommended these trades. These examples typify the evidence examined by the investigation. The [[SEC]] and the [[FBI]], aided by other agencies and the securities industry, devoted enormous resources to investigating this issue, including securing the cooperation of many foreign governments. These investigators have found that the apparently suspicious consistently proved innocuous. Joseph Cella interview (Sept. 16, 2003; May 7, 2004; May 10-11, 2004); FBI briefing (Aug. 15, 2003); SEC memo, Division of Enforcement to SEC Chair and Commissioners, “Pre-September 11, 2001 Trading Review,” May 15, 2002; Ken Breen interview (Apr. 23, 2004); Ed G. interview (Feb. 3, 2004). |
| + | |source_name=9/11 Commission Report | ||
| + | |source_details=Footnote 130 to chapter 5 | ||
| + | |source_URL=http://www.washingtonsblog.com/2010/06/sec-government-destroyed-documents-regarding-pre-911-put-options.html | ||
| + | }} | ||
| + | |||
| + | ===Data recovery=== | ||
| + | Computer systems in the World Trade Center processed an unusual volume of credit card transactions in the minutes before the planes crashed into the towers on 9/11/01. The computer systems were destroyed in the subsequent collapses of the towers. Although details of the surge remain unknown, reports speculate that the transactions may have amounted to more than $100 million in value, with both the volume and sizes of transactions surging.<ref>https://www.911research.wtc7.net/sept11/transactions.html saved at [https://web.archive.org/web/20050320162950/http://www.911research.wtc7.net/sept11/transactions.html Archive.org] saved at [https://archive.is/xwGU5 Archive.is]</ref> | ||
| + | |||
| + | Hard-disks that were recovered in the WTC ruble were sent to the German company [[Convar]] for data-recovery, but after initial reporting no further information was forthcoming. | ||
| + | |||
| + | [[Deutsche Welle]] reported at the time:<ref>https://www.dw.com/en/digital-secrets-retrieved/a-371951 saved at [https://web.archive.org/web/20220911113334/https://www.dw.com/en/digital-secrets-retrieved/a-371951 Archive.org] saved at [https://archive.is/bpm1s Archive.is]</ref> | ||
| + | {{QB|There was a surge in transactions prior to the attacks of September that no-one has so far been able to explain. It has led to speculation that someone might have profited from previous knowledge of the terrorist plot by moving sums of money before the twin towers collapsed.<br> | ||
| + | |||
| + | But because the facilities of many financial companies processing these transactions were housed in New York's World Trade Center, destroyed in the blasts, it has until now been impossible to retrieve the data.<br> | ||
| + | |||
| + | That's where Convar Systeme Deutschland GmbH comes in. The company is helping reconstruct transactions from hard disk drives found in the ruins of the twin towers. Convar says it has an edge on competitors also working on the project: a laser-based scanning technology developed about two years ago. (December 27, 2001)}} | ||
| + | |||
{{SMWDocs}} | {{SMWDocs}} | ||
| + | |||
==References== | ==References== | ||
{{reflist}} | {{reflist}} | ||
Latest revision as of 06:30, 10 September 2023
 | |
| Date | 6 September, 2001 - 11 September, 2001 |
|---|---|
| Interest of | Lars Schall |
| Description | A mound of evidence points to insider trading. However, the 9/11 Commission decided not to investigate the matter and the SEC destroyed important records. |
Insider trading in advance of 9/11, using the knowledge of the impending false flag event, was an option for anyone with foreknowledge.
Contents
9/11 Commission Report
The 9/11 Commission Report mentioned the name of Buzzy Krongard, former executive director of the CIA, stating:[1]
"A single U.S.-based institutional investor with no conceivable ties to al Qaeda purchased 95 percent of the UAL puts on September 6 (2001) as part of a strategy that also included buying 115,000 shares of American on September 10. Similarly, much of the seemingly suspicious trading on September 10 was traced to a specific U.S.-based options trading newsletter... which recommended these trades."[2]
The implied conclusion is that having "no conceivable ties to al Qaeda" the investor could not have had foreknowledge of the attacks.
Almost Irrefutable Proof?
The German Central bank studied the possibility of insider trading. According to German central bank president Ernst Welteke, the German researchers found “almost irrefutable proof of insider trading”.[3] The Washington Post reported on 23rd September 2001:[4][5]
Welteke said his researchers came across what he considers almost irrefutable proof of insider trading as recently as Thursday, but he refused to release details pending further consultations with regulators in other countries.
"What we found makes us sure that people connected to the terrorists must have been trying to profit from this tragedy," he said at a meeting of European finance ministers and central bankers. Besides massive short selling of airlines and insurance stocks, Welteke said "there was a fundamentally inexplicable rise" in world oil prices just before the attacks that suggest certain groups or people were buying oil contracts that were then sold for a much higher price. He said German researchers also detected movements in gold markets "which need explaining."
"If you look at the movements in markets before and after the attacks, it really makes your brow furrow," Welteke said. "It is extremely difficult to really verify it, but we are confident we will be able to pinpoint the source in at least one or two cases."
Cover-up
The SEC was active in attempting to cover up evidence of insider trading. There was a lot of evidence of trading in the run up to 9/11 consistent with foreknowledge. David Callahan – executive editor of SmartCEO – submitted a Freedom of Information Act request to the SEC regarding the pre-9/11 put options. He was told: "We have been advised that the potentially responsive records have been destroyed."
The 9/11 Commission concluded:
“Highly publicized allegations of insider trading in advance of 9/11 generally rest on reports of unusual pre-9/11 trading activity in companies whose stock plummeted after the attacks. Some unusual trading did in fact occur, but each such trade proved to have an innocuous explanation. For example, the volume of put options- investments that pay off only when a stock drops in price-surged in the parent companies of United Airlines on September 6 and American Airlines on September 10-highly suspicious trading on its face. Yet, further investigation has revealed that the trading had no connection with 9/11. A single U.S.-based institutional investor with no conceivable ties to al Qaeda purchased 95 percent of the UAL puts on September 6 as part of a trading strategy that also included buying 115,000 shares of American on September 10. Similarly, much of the seemingly suspicious trading in American on September 10 was traced to a specific U.S.-based options trading newsletter, faxed to its subscribers on Sunday, September 9, which recommended these trades. These examples typify the evidence examined by the investigation. The SEC and the FBI, aided by other agencies and the securities industry, devoted enormous resources to investigating this issue, including securing the cooperation of many foreign governments. These investigators have found that the apparently suspicious consistently proved innocuous. Joseph Cella interview (Sept. 16, 2003; May 7, 2004; May 10-11, 2004); FBI briefing (Aug. 15, 2003); SEC memo, Division of Enforcement to SEC Chair and Commissioners, “Pre-September 11, 2001 Trading Review,” May 15, 2002; Ken Breen interview (Apr. 23, 2004); Ed G. interview (Feb. 3, 2004).”
' [7]
Data recovery
Computer systems in the World Trade Center processed an unusual volume of credit card transactions in the minutes before the planes crashed into the towers on 9/11/01. The computer systems were destroyed in the subsequent collapses of the towers. Although details of the surge remain unknown, reports speculate that the transactions may have amounted to more than $100 million in value, with both the volume and sizes of transactions surging.[8]
Hard-disks that were recovered in the WTC ruble were sent to the German company Convar for data-recovery, but after initial reporting no further information was forthcoming.
Deutsche Welle reported at the time:[9]
There was a surge in transactions prior to the attacks of September that no-one has so far been able to explain. It has led to speculation that someone might have profited from previous knowledge of the terrorist plot by moving sums of money before the twin towers collapsed.
But because the facilities of many financial companies processing these transactions were housed in New York's World Trade Center, destroyed in the blasts, it has until now been impossible to retrieve the data.
That's where Convar Systeme Deutschland GmbH comes in. The company is helping reconstruct transactions from hard disk drives found in the ruins of the twin towers. Convar says it has an edge on competitors also working on the project: a laser-based scanning technology developed about two years ago. (December 27, 2001)
Related Quotation
| Page | Quote | Author | Date |
|---|---|---|---|
| 2021 | “Speaking of shorting stock did they ever find out who shorted those airlines stocks just before 9/11? Just Asking. You Wallstreet fucks are worried about GameStop but there are deep questions that get brought up. Enjoy.” | Immortal Technique | January 2021 |
Related Documents
| Title | Type | Publication date | Author(s) | Description |
|---|---|---|---|---|
| Document:9/11 Insider Trading | article | 18 November 2010 | Kevin Ryan | Evidence for Informed Trading based on foreknowledge of the 9-11 attacks |
| File:911 Abnormal Trading.pdf | paper | 13 April 2010 | Wing-Keung Wong Kweehong Teh Howard E. Thompson | Evidence of foreknowledge about the 9-11 terrorist attacks in the form of financial trading irregularities |
References
- ↑ Suppressed Details of Criminal Insider Trading Lead Directly Into The CIA's Highest Ranks
- ↑ Norton, W.W. (2004). 9/11 Commission Report. p. 499.
- ↑ http://www.historycommons.org/context.jsp?item=aearly0901german#aearly0901german
- ↑ William Drozdiak, “‘Insider trading’ by terrorists is suspected in Europe”, Miami Herald, September 24, 2001, http://web.archive.org/web/20011109160700/www.miami.com/herald/special/news/worldtrade/digdocs/099922.htm
- ↑ https://www.washingtonpost.com/archive/politics/2001/09/23/germans-probe-likely-links-between-profits-and-terrorists/1c42fc2d-c092-416c-8594-1e6758b5d86c/ saved at Archive.org saved at Archive.is
- ↑ https://www.handelsblatt.com/politik/konjunktur/portraet-des-ernst-welteke-ein-jaehes-karriere-ende/2321134-all.html saved at Archive.org saved at Archive.is
- ↑ http://www.washingtonsblog.com/2010/06/sec-government-destroyed-documents-regarding-pre-911-put-options.html 9/11 Commission Report Footnote 130 to chapter 5
- ↑ https://www.911research.wtc7.net/sept11/transactions.html saved at Archive.org saved at Archive.is
- ↑ https://www.dw.com/en/digital-secrets-retrieved/a-371951 saved at Archive.org saved at Archive.is
