9/11 Was A Fantastically Profitable Covert Operation

[Silent_Bob]

http://www.larsschall.com/2011/09/03/911-was-a-fantastically-profitable-covert-operation/

Now that the 10th anniversary of the terrorist attacks of September 11, 2001 approaches, I spoke with former Wall Street investment banker Catherine Austin Fitts on aspects related to the financial angle of the crime. "9/11," she says, "is the symptom of a model of control which is centralized and top-down."

By Lars Schall

Catherine Austin Fitts is a graduate from the University of Pennsylvania (BA) and the Wharton School (MBA). At the Chinese University of Hong Kong she studied Mandarin. She served as a managing director and member of the board of the Wall Street investment bank Dillon, Read & Co, Inc. (now part of UBS). Later, she was Assistant Secretary of Housing and Federal Housing Commissioner at the U.S. Department of Housing and Urban Development (HUD) during the presidency of George Herbert Walker Bush. As such, she was responsible for the operations of the Federal Housing Administration (FHA), the largest mortgage insurance fund of the world.

After leaving the Bush Administration, Fitts founded The Hamilton Securities Group, Inc., an investment bank and financial software developer named after the first U.S. Secretary of Treasury, Alexander Hamilton. In 1996, she and her successful company became targets of a vicious, long-lasting "qui tam lawsuit", that resulted in the closing of Hamilton Securities. Fitts was ultimately successful in Court of Claims litigation asserting that the government had no right to withhold monies owed to Hamilton.

In the years afterwards, Fitts spoke publicly about the degree of fraud endemic in the federal mortgage operations, trillions missing from government agencies and the connections to drug trafficking and "black budgets."[ii]Moreover, with her mentioned expertise, she was one of the first to warn of an approaching housing bubble. Her prediction that the "strong dollar policy" would lead to a weakened federal credit is currently being proven correct.

Fitts is the president of Solari, Inc., publisher of "The Solari Report" (www.solari.com), and managing member of Solari Investment Advisory Services, LLC. She served until last year on the board of directors of the Gold Anti-Trust Action Committee, GATA (www.gata.org), and writes "The Real Deal" column for Scoop Media in New Zealand (www.scoop.co.nz).

Catherine Austin Fitts lives in Tennessee, U.S.A.

In addition to the following interview, I would like to recommend to read another interview that I have conducted with Catherine Austin Fitts, "Behind the Wheel," in which she talked about some of the issues raised here in more depth:

http://www.larsschall.com/2010/08/29/behind-the-wheel/.

With regards to the 9/11 insider trading, I would like to recommend to read the study "Detecting Informed Trading Activities in the Option Markets," published by Marc Chesney, Remo Crameri und Loriano Mancini in April 2010, that can be downloaded here:

http://www.bf.uzh.ch/publikationen/pdf/publ_2098.pdf.

Ms. Fitts, what are your general thoughts related to the alleged 9/11-insider trading?

CAF: Well, I've never been able to see concrete evidence that the insider trading has been proved. There's a lot of anecdotal information from investment bankers and people in the investment community that indicate that there was significant insider trading, particularly in the currency and bond markets, but again it hasn't been documented.

I think around situations like 9/11 we've seen things that can only be explained as insider trading. Therefore, it wouldn't surprise me if it turns out the allegations are true, because my suspicion is that 9/11 was an extremely profitable covert operation and a lot of the profits came from the trading. It wouldn't even surprise me if it turns out that the Exchange Stabilization Fund traded it and that some of the funding for the compensation fund for the victims came from the ESF.

Insider trading happens around these kinds of events, but if you really want to produce evidence of insider trading, you need the subpoena powers of the SEC, and of course we know that they haven't exercised them. If anything, right after 9/11, the government settled a significant amount of cases I presume because a lot of the documents were destroyed by the destruction of WTC building number 7, where the SEC offices and other governmental investigation offices were.

If I would ask the Cui Bono question with regards to 9/11, what was your answer?

CAF: Actually I wrote an article about this, the 20 largest areas of profit on 9/11.[iii] 9/11 was extraordinarily profitable for Wall Street, they of course got a kind of "Get Out of Jail Free card" as I've just described. In addition, the largest broker of government bonds, Cantor Fitzgerald, was destroyed, and there was a great deal of money missing from the federal government in the prior four or five years. If you look at the amount of funds involved, it is hard to come to a conclusion other than massive securities fraud was involved, so I find it very interesting that this happened.

In addition, the federal government took the position that they couldn't produce audited financial statements after 9/11, because they said the office at the Pentagon that produced financial statements was destroyed. Now given what I know of the federal set up of financial statements, I am skeptical of that statement. But needless to say, if you take the government on its word, you had another "Get Out of Jail Free card" for four trillion dollars and more missing from the federal government. So if you're just looking at the financial fraud angle, there were a lot of parties that benefitted from 9/11. But then of course what 9/11 did, it staged the passage of the Patriot Act and a whole series of laws and regulations that I collectively refer to as "The Control on Concentration of Cash Flow Act." It gave incredible powers to centralize.

In addition, if you look at monetary policies right after 9/11 – I remember I was over in the City of London driving around with a money manager and his phone rang and he answered it on his speaker phone. It was somebody on Wall Street who he hadn't talked to since before 9/11, and he said to him: "Oh Harry, I am so sorry about what has happened, it must have been very traumatic." And the guy said: "Don't be ridiculous! We were able to borrow cheap short and invest long, we're running a huge arbitrage, we're making a fortune, this is the most profitable thing that ever happened to us!" – So you could tell the monetary policies and sort of insider games were just pumping profits into the bank at that time, so that was very profitable. But of course the big money was used for a significant movement of the military abroad and into Afghanistan and then into Iraq. – Lars, have you ever heard the story about my experience at church on 9/11?

Not yet, but tell it, please.

CAF: Okay, so I moved to Tennessee in 1999, and from the time that I got here I joined a little church in a small town in Tennessee where I lived.  About three weeks after I got here we had a sermon that was very political. Afterwards I called a friend of mine, a very successful investigative reporter in Washington DC, and I said to her: "You know, we just got this sermon and I think bla-di-bla-di-bla..." And the reporter said to me: "How can you possibly got that in a little church in Tennessee – my best source at the CIA just called me to tell me that!"

Over the next two years what we found was that there was an extraordinary sort of coordination between what I was hearing at an occasional political sermon and then what the reporter got from sources at the FBI and the CIA. Anyway, on September 9, 2001, two days before the events of 9/11, I went to church, and it was a fantastically political sermon. Basically, what my pastor at that time said was: "The age old battle between Islam and Christianity is coming to a head, and the only way to solve this is going to war." He then laid out the basic battle plan: First we're going to war in Afghanistan, then Iraq and other places, but number one was Afghanistan. So I called this reporter and said: "Have you heard we're going to war in Afghanistan?" And she said: "No, I haven't heard a word."

So lo and behold, two days later 9/11 happened, and I was just amazed. The following day was prayer service, I went to church, and the pastor on the pulpit said: "George W. Bush is anointed by God for times such as this!" Lars, I put my head in my hands and I said: "Oh Lord, give me a sign, I don't know what to do, please help me!" Just at that moment my pastor said to me: "Catherine, you have worked in Washington, what do you think?" Now, I have to tell you, Lars, from my pastor to ask me that question at that moment – that is divine intervention! (laughs.)

So I said: "Well, in my experience the Bush family is anointed by financial fraud, narcotic trafficking and pedophilia!" My pastor gasped and said: "If that's the case, it's hopeless." And I said to him: "Don't be ridiculous, people like the Bushes and the Clintons come and go. We have a governor, his name is God, we don't need to worry about the Bushes."

You could see that the country was being prepared to go to war. And sure enough, 9/11 was used as a justification to go to war in Afghanistan, to go to war in Iraq, and commit a huge number of actions, and now much of the challenges about the budget are the result of extraordinary expenditures on war including in Afghanistan and Iraq and the costs of moving the army abroad and engaging in this kind of empire building with ground military force. So I think if you ask Cui Bono on 9/11, one of the big categories was all the people who made money on engineering the popular fear they needed to engineer these wars. I believe whether it was financial fraud, engineering new laws or engineering wars, it was a fantastically profitable covert operation.

Do you think that 9/11 helped to cause the crisis we're in now?

CAF: It depends on how deep you want to go. 9/11 is the symptom of a model of control which is centralized and top-down. As an economic matter this model is extremely inefficient. 9/11 just helped to further centralize, but if you look at the model that this planet has been run on for five hundred years, it's what I call the "central banking-warfare investment model" – in fact, that was a term that James Turk coined – I heard him use it in a presentation in London in 2000.

So the "central banking-warfare investment model," especially as we got more and more powerful technology to the extent that we use technology to continue to centralize – we end up being extremely destructive of individual rights, extremely destructive of the environment, extremely destructive of all the things that create a healthy economy. It's really an age old struggle between centralization and de-centralization, and the forces of centralization are winning – they are winning at great cost to the economy, the health of the planet and the people on it.

How would you describe the world in which an event such as 9/11 is possible and maybe needed?

Well, let me ask you this: why do you say "needed"?

In order to justify what was already planned before.[iv]

CAF: Let us create a metaphoric character that I sometime use to explain these things, who I call Mr. Global. Mr. Global essentially thinks he's in charge of governing planet earth. I think what Mr. Global would say is that you can't trust the average person to make intelligent decisions, that popular opinion will never turn the aircraft carrier in time, that democracy was a great experiment but it doesn't work because the average person can't see or relate to the whole and can't make critical decisions soon enough to turn the aircraft carrier, and so you have to do things like 9/11 to built the kind of consensus and global picture you need to act.

It's all part of a downward spiral of disrespect between leadership and most people. I can speak about America now. In America you have a population which is drinking water full of fluoride, they eat food that makes you very weak and sick, we literally have a population here that is poisoned in many different ways. They have very poor education, they are completely consumed with entertainment that is full of entrainment, all sorts of subliminal programming and all sorts of mind control techniques. And so you have population in which the leadership has done everything they can to dumb them down and de-associate them from real decision making at which point they say: Well, you can't trust people to participate in democracy, therefore we need to force these events to kind of make things happen.

Now, was 9/11 done for that reason? We can only conjecture – but I would say that there is a very negative spiral of disrespect between ordinary people and the leadership, which is part of centralization, because centralization ultimately makes the body politic stupid, and so you need more and more tyranny to force things – and that's what we really watching globally as very invasive technology makes now the kind of tyranny that Orwell once wrote about in fiction very plausible. That is what we see happening.

Do you think 9/11 was basically an attack on the psyche of the world? I have sometimes the feeling that it deepened the psychosis the world is in.

CAF: That is really funny. There is a wonderful church down here that I sometimes go to, and right after 9/11, I guess it was the following Sunday, I wasn't in the mood for political sermons, so I went there and the pastor, who is very respected, got up in front of the congregation and he didn't say a word for about ten seconds. You could see everybody waiting – you could hear a pin  drop -  and then he said: "It is very hard for someone to do something like 9/11 alone, it is highly possible that Osama bin Laden had an accomplice." So everybody sat in suspense, and then he said: "So I want to talk to you about Osama bin Lucifer." (laughs.) It was very interesting because he talked about the nature of evil and the extent to which this event had opened up the spiritual doorway to let the spirit of evil.

Here is the interesting thing: if you look at the "black budget" world or Richard Dolan's term "the breakaway civilization"[v] – the "breakaway civilization" has murdered, assassinated, poisoned, and killed thousands and thousands if not million of people in the United States over my lifetime, Lars. If you just look at the people killed in narcotics trafficking, drug running, gun running, or some of the different nuclear experiments or different kind of poisonings, which is much more common than usually people think – if you look at all those people that have been murdered by this network it's not new news that they are running around and murdering ordinary Americans who are perfectly innocent and have no idea that this stuff goes on. Look at the assassination of John F. Kennedy, I mean he was basically shot by the Shadow Government in front of everyone and they got away with it – and that is part of the problem: the more they get away with these things the more powerful they get and the worst they get. It wasn't new news that these folks kill lots of Americans. America is a very afraid place, people are very much afraid for their physical safety. They are very careful and quiet about it.

9/11 was the first time that this kind of violence became overt. Basically, we killed 3000 plus middle and upper-middle class office workers and did it in broad daylight. I think a lot of people in America assumed that they were protected – so this kind of thing happened to black people, this kind of thing happened to poor people, this kind of thing happened to people who didn't play ball, but there was always the feeling: If I'm white and play ball, then it won't happen to me. And this was sort of the new news from the breakaway civilization: If it is convenient for us it will happen to you.

Thank you very much for taking your time, Ms. Fitts!

[Russell Kanning]

"In addition, the federal government took the position that they couldn't produce audited financial statements after 9/11, because they said the office at the Pentagon that produced financial statements was destroyed. Now given what I know of the federal set up of financial statements, I am skeptical of that statement. But needless to say, if you take the government on its word, you had another "Get Out of Jail Free card" for four trillion dollars and more missing from the federal government."

That makes sense why would the government have duplicates of important information in more than one place.

I liked her story about her church.

[Sheep Fuzzy Wool]

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