[ Ed. note – The author of the article below offers a detailed analysis on the subject of trading in “put options” in the days just prior to 9/11. Put options are essentially a bet that a certain company’s stock is going to take a nose dive, and there was a pronounced spike in these type of trades on Wall Street–particularly on United and American airlines stocks–in the early days of September of 2001.
Within days after 9/11, the Securities and Exchange Commission, apparently not yet clued in as to who was behind the attacks, launched an investigation into the suspicious trading activity, but the investigation was quickly shut down. As the author puts it, “The SEC was like a surgeon who opens a patient on the operating room table to remove a tumor only to sew him back up again after finding that the cancer has metastasized throughout the body.”
It’s a nice article as far as it goes, although in more than 4,000 words the author manages not a single mention of Israel or the Mossad, but that’s probably not terribly surprising. A lot of writers these days, even in the so-called “alternative media,” are taking pains to avoid the “anti-Semite” label. At any rate, the article gives us something to think about as we celebrate our supposed independence. ]
9/11–The Evidence for Insider Trading
By Mark H. Gaffney
After 9/11, there were indications that traders with inside information had benefited financially from the terrorist attacks. It also appeared that the phenomenon was not limited to US markets. The list of affected nations was long and included, in addition to the US, Germany, Japan, France Luxembourg, the UK, Switzerland, Spain, and even Hong Kong.i One consultant, Jonathan Winer, told ABC, “It’s absolutely unprecedented to see cases of insider trading covering the entire world from Japan to the US to North America to Europe.”
Soon, independent investigations were underway on three continents, in the belief that the paper trail would lead to the terrorists. Press statements by leading figures in the international banking community left little doubt that the evidence was compelling. Ernst Welteke, President of the German Deutsche Bundesbank, told the Miami Heraldthat “a preliminary review by German regulators and bank researchers showed there were highly suspicious sales of shares in airlines and insurance companies, along with major trades in gold and oil markets, before September 11 that suggest … advance knowledge of the attacks. Welteke said that his researchers came across … almost irrefutable proof of insider trading.” Welteke himself was emphatic: “If you look at the movements in markets before and after the attacks, it really makes your brow furrow.… What we found makes us sure that people connected to the terrorists must have been trying to profit from this tragedy.”