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9/11
See other 9/11 Articles

Title: The empire’s operatives exposed: The Krongards, 9/11, and Blackwater/Iraq
Source: [None]
URL Source: http://onlinejournal.com/artman/publish/article_2652.shtml
Published: Nov 21, 2007
Author: Larry Chin
Post Date: 2007-11-21 19:48:41 by Kamala
Keywords: None
Views: 52
Comments: 2

Analysis

Last Updated: Nov 19th, 2007 - 01:22:04


The empire’s operatives exposed: The Krongards, 9/11, and Blackwater/Iraq

By Larry Chin

Online Journal Associate Editor

Nov 19, 2007, 01:18

New bombshell testimony before Congress has revealed that Alvin B. “Buzzy” Krongard, the former CIA executive director connected to 9/11 insider trading, is a consultant and advisory board member of Blackwater USA, the New World Order’s leading intelligence-related corporate mercenary death squad now under investigation for war crimes, murder, arms smuggling, and fraud in Iraq.

“Buzzy” Krongard’s Blackwater role was confirmed by “Buzzy”’s brother, Howard “Cookie” Krongard, who (not ironically) is the Bush/Cheney administration’s State Department’s inspector general, and the official under fire for stonewalling and quashing attempted probes of Blackwater’s operations.

It was during the last Wednesday's hearing before the House Oversight and Government Reform Committee, chaired by Henry Waxman (D-CA), that “Cookie” Krongard denied, then confirmed later in the same testimony, the fact that his own brother was a Blackwater advisory board member throughout the period in which “Cookie” engaged in the cover-up of Blackwater. It is not known if “Cookie” Krongard lied, or was lied to, but he has now recused himself from “all matters having to do with Blackwater."

As thoroughly documented by Michael C. Ruppert in Crossing the Rubicon: The Decline of the American Empire at the End of the Age of Oil, until 1997, A.B. “Buzzy” Krongard was the vice chairman of investment bank A.B.Brown (Alex. Brown). A.B. Brown and its previous incarnations have been involved with Bush family business ventures for generations, including deals with the Carlyle Group. It was also one of many major investment houses implicated for money laundering in congressional probes.

Brothers in illegal arms

Krongard joined the CIA in 1998 as the counsel to CIA Director George Tenet, and was named CIA executive director (the CIA’s #3 position) by George W. Bush in March 2001. The Deutsche Bank/Alex.Brown private banking operation headed by Krongard through 1998, and taken over by Krongard’s colleague Mayo Shattuck III, was one of the major hubs of 9/11 insider trading, where put options were purchased on United Airlines and other 9/11-related stocks. As written by Ruppert, “the trades could only have been made by people high enough in the US, Israeli and European intelligence community (including Russia) to know about the attacks and -- more importantly -- which of the many planned attacks were going to be successful.”

It is no surprise that Howard “Cookie” Krongard has, along with brother “Buzzy," enjoyed high official Bush/Cheney positions, and profits, from the “war on terrorism" -- apparently continuously from 9/11 all the way to the present Iraq occupation and quagmire.

These and other damning facts add to the multitude of direct lines leading from 9/11 to Iraq and beyond, and have been exposed piecemeal in recent years and months (in media reports that are largely ignored and misunderstood by the masses). They confirm and underscore years of exhaustive existing evidence about the true nature of the “war on terrorism," its imperial architects from across the international political spectrum, and its multinational universe of “soldiers” (exemplified by the Krongards), and intelligence proprietaries, cut-outs, and political and media fronts.

The New World Order’s “above the law” criminals -- from the Krongards and the entire Blackwater apparatus, to Bush, Cheney, Blair, and the entire membership of the Bilderberg Group -- have committed unprecedented atrocities out in the open, and have more than earned the kind of “interrogations” that they and their armed-to-the-teeth functionaries continue to inflict on political adversaries and innocent patsies in CIA prisons all over the world.

Tragically, particularly in the present milieu, it is more than likely that the Krongards will not be touched, any more than Bush, Cheney, et al will receive the punishment they deserve.

Not only have no “heads rolled” since 9/11, but virtually all of the 9/11/ “war on terrorism” criminals continue to hold the highest offices of power, brazenly committing new crimes in the open, while holding the people of world in contempt. The criminals, and their crimes, are on television, every hour on the hour. Witness the fact that Rudolf Guiliani, who was thoroughly exposed as a hands-on participant in the 9/11 operation in Mike Ruppert’s Crossing the Rubicon, is a leading 2008 presidential candidate. Senator Joe Biden, one of many members of Congress who enjoyed breakfast on 9/11 with Pakistani ISI chief and 9/11 “money man” Mahmoud Ahmad, is also running for president.

Given the bipartisan complicity of the US Congress, it is likely that the Blackwater probes, like all congressional “investigations” in modern history, are simply more limited hangouts, designed to strengthen, not expose, what remains a massive ongoing cover-up of imperial crimes.

In a time of open and unprecedented political lawlessness and corruption, and mass public ignorance and acquiescence, true investigation remains the bitter and tragic duty of a minority of courageous individuals willing to seek the facts. They are contained on the pages of this publication, and the following list of sources on the Krongards:

Michael C. Ruppert, Crossing the Rubicon: The Decline of the American Empire at the End of the Age of Oil, Chapter 14: 9/11 Insider Trading, or “You Didn’t Really See That, Even Though We Saw It”

Suppressed Details of Criminal Insider Trading Lead Directly Into CIA's Highest Ranks

(Mike Ruppert, From the Wilderness, October 15, 2001

Profits of Death: Insider Trading and 9/11 (Tom Flocco, From the Wilderness, December 27, 2001)

Jeremy Scahill, Blackwater:The Rise of the World’s Most Powerful Mercenary Army

Copyright © 1998-2007 Online Journal Email Online Journal Editor

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#1. To: All (#0)

www.fromthewilderness.com...w3/10_09_01_krongard.html

One of a series of stories on CIA foreknowledge of the WTC attacks.)

SUPPRESSED DETAILS OF CRIMINAL INSIDER TRADING LEAD DIRECTLY INTO THE CIA's HIGHEST RANKS

CIA EXECUTIVE DIRECTOR "BUZZY" KRONGARD MANAGED FIRM THAT HANDLED "PUT" OPTIONS ON UAL

by

Michael C. Ruppert

[© COPYRIGHT, 2001, Michael C. Ruppert and FTW Publications, www.copvcia.com. All Rights Reserved. - May be reprinted or distributed for non-profit purposes only.]

FTW, October 9, 2001 - Although uniformly ignored by the mainstream U.S. media, there is abundant and clear evidence that a number of transactions in financial markets indicated specific (criminal) foreknowledge of the September 11 attacks on the World Trade Center and the Pentagon. In the case of at least one of these trades -- which has left a $2.5 million prize unclaimed -- the firm used to place the "put options" on United Airlines stock was, until 1998, managed by the man who is now in the number three Executive Director position at the Central Intelligence Agency. Until 1997 A.B. "Buzzy" Krongard had been Chairman of the investment bank A.B. Brown. A.B. Brown was acquired by Banker's Trust in 1997. Krongard then became, as part of the merger, Vice Chairman of Banker's Trust-AB Brown, one of 20 major U.S. banks named by Senator Carl Levin this year as being connected to money laundering. Krongard's last position at Banker's Trust (BT) was to oversee "private client relations." In this capacity he had direct hands-on relations with some of the wealthiest people in the world in a kind of specialized banking operation that has been identified by the U.S. Senate and other investigators as being closely connected to the laundering of drug money.

Krongard (re?) joined the CIA in 1998 as counsel to CIA Director George Tenet. He was promoted to CIA Executive Director by President Bush in March of this year. BT was acquired by Deutsche Bank in 1999. The combined firm is the single largest bank in Europe. And, as we shall see, Deutsche Bank played several key roles in events connected to the September 11 attacks.

THE SCOPE OF KNOWN INSIDER TRADING

Before looking further into these relationships it is necessary to look at the insider trading information that is being ignored by Reuters, The New York Times and other mass media. It is well documented that the CIA has long monitored such trades - in real time - as potential warnings of terrorist attacks and other economic moves contrary to U.S. interests. Previous stories in FTW have specifically highlighted the use of Promis software to monitor such trades.

It is necessary to understand only two key financial terms to understand the significance of these trades, "selling short" and "put options".

"Selling Short" is the borrowing of stock, selling it at current market prices, but not being required to actually produce the stock for some time. If the stock falls precipitously after the short contract is entered, the seller can then fulfill the contract by buying the stock after the price has fallen and complete the contract at the pre-crash price. These contracts often have a window of as long as four months.

"Put Options," are contracts giving the buyer the option to sell stocks at a later date. Purchased at nominal prices of, for example, $1.00 per share, they are sold in blocks of 100 shares. If exercised, they give the holder the option of selling selected stocks at a future date at a price set when the contract is issued. Thus, for an investment of $10,000 it might be possible to tie up 10,000 shares of United or American Airlines at $100 per share, and the seller of the option is then obligated to buy them if the option is executed. If the stock has fallen to $50 when the contract matures, the holder of the option can purchase the shares for $50 and immediately sell them for $100 - regardless of where the market then stands. A call option is the reverse of a put option, which is, in effect, a derivatives bet that the stock price will go up.

A September 21 story by the Israeli Herzliyya International Policy Institute for Counterterrorism, entitled "Black Tuesday: The World's Largest Insider Trading Scam?" documented the following trades connected to the September 11 attacks:

- Between September 6 and 7, the Chicago Board Options Exchange saw purchases of 4,744 put options on United Airlines, but only 396 call options. Assuming that 4,000 of the options were bought by people with advance knowledge of the imminent attacks, these "insiders" would have profited by almost $5 million.

- On September 10, 4,516 put options on American Airlines were bought on the Chicago exchange, compared to only 748 calls. Again, there was no news at that point to justify this imbalance; Again, assuming that 4,000 of these options trades represent "insiders," they would represent a gain of about $4 million.

- [The levels of put options purchased above were more than six times higher than normal.]

- No similar trading in other airlines occurred on the Chicago exchange in the days immediately preceding Black Tuesday.

- Morgan Stanley Dean Witter & Co., which occupied 22 floors of the World Trade Center, saw 2,157 of its October $45 put options bought in the three trading days before Black Tuesday; this compares to an average of 27 contracts per day before September 6. Morgan Stanley's share price fell from $48.90 to $42.50 in the aftermath of the attacks. Assuming that 2,000 of these options contracts were bought based upon knowledge of the approaching attacks, their purchasers could have profited by at least $1.2 million.

- Merrill Lynch & Co., with headquarters near the Twin Towers, saw 12,215 October $45 put options bought in the four trading days before the attacks; the previous average volume in those shares had been 252 contracts per day [a 1200% increase!]. When trading resumed, Merrill's shares fell from $46.88 to $41.50; assuming that 11,000 option contracts were bought by "insiders," their profit would have been about $5.5 million.

- European regulators are examining trades in Germany's Munich Re, Switzerland's Swiss Re, and AXA of France, all major reinsurers with exposure to the Black Tuesday disaster. [FTW Note: AXA also owns more than 25% of American Airlines stock making the attacks a "double whammy" for them.]

On September 29, 2001 - in a vital story that has gone unnoticed by the major media - the San Francisco Chronicle reported, "Investors have yet to collect more than $2.5 million in profits they made trading options in the stock of United Airlines before the Sept. 11, terrorist attacks, according to a source familiar with the trades and market data.

"The uncollected money raises suspicions that the investors - whose identities and nationalities have not been made public - had advance knowledge of the strikes." They don't dare show up now. The suspension of trading for four days after the attacks made it impossible to cash-out quickly and claim the prize before investigators started looking.

"October series options for UAL Corp. were purchased in highly unusual volumes three trading days before the terrorist attacks for a total outlay of $2,070; investors bought the option contracts, each representing 100 shares, for 90 cents each. [This represents 230,000 shares]. Those options are now selling at more than $12 each. There are still 2,313 so-called "put" options outstanding [valued at $2.77 million and representing 231,300 shares] according to the Options Clearinghouse Corp."

"The source familiar with the United trades identified Deutsche Bank Alex Brown, the American investment banking arm of German giant Deutsche Bank, as the investment bank used to purchase at least some of these options." This was the operation managed by Krongard until as recently as 1998.

As reported in other news stories, Deutsche Bank was also the hub of insider trading activity connected to Munich Re. just before the attacks.

CIA, THE BANKS AND THE BROKERS

Understanding the interrelationships between CIA and the banking and brokerage world is critical to grasping the already frightening implications of the above revelations. Let's look at the history of CIA, Wall Street and the big banks by looking at some of the key players in CIA's history.

Clark Clifford - The National Security Act of 1947 was written by Clark Clifford, a Democratic Party powerhouse, former Secretary of Defense, and one- time advisor to President Harry Truman. In the 1980s, as Chairman of First American Bancshares, Clifford was instrumental in getting the corrupt CIA drug bank BCCI a license to operate on American shores. His profession: Wall Street lawyer and banker.

John Foster and Allen Dulles - These two brothers "designed" the CIA for Clifford. Both were active in intelligence operations during WW II. Allen Dulles was OSS station chief in Berne, Switzerland, where he met frequently with Nazi leaders and looked after U.S. investments in Germany. John Foster went on to become Secretary of State under Dwight Eisenhower and Allen went on to serve as CIA Director under Eisenhower and was later fired by JFK. Their professions: partners in the most powerful - to this day - Wall Street law firm of Sullivan, Cromwell.

Bill Casey - Ronald Reagan's CIA Director and OSS veteran who served as chief wrangler during the Iran-Contra years was, under President Richard Nixon, Chairman of the Securities and Exchange Commission. His profession: Wall Street lawyer and stockbroker.

David Doherty - The current Vice President of the New York Stock Exchange for enforcement is the retired General Counsel of the Central Intelligence Agency.

George Herbert Walker Bush - President from 1989 to January 1993, also served as CIA Director for 13 months from 1976-7. He is now a paid consultant to the Carlyle Group, the 11th largest defense contractor in the nation, which also shares joint investments with the bin Laden family.

A.B. "Buzzy" Krongard - The current Executive Director of the Central Intelligence Agency is the former Chairman of the investment bank A.B. Brown and former Vice Chairman of Banker's Trust.

John Deutch - This retired CIA Director from the Clinton Administration currently sits on the board at Citigroup, the nation's second largest bank, which has been repeatedly and overtly involved in the documented laundering of drug money. This includes Citigroup's 2001 purchase of a Mexican bank known to launder drug money, Banamex.

Nora Slatkin - This retired CIA Executive Director also sits on Citibank's board.

Maurice "Hank" Greenburg - The CEO of AIG insurance, manager of the third largest capital investment pool in the world, was floated as a possible CIA Director in 1995. FTW exposed Greenberg's and AIG's long connection to CIA drug trafficking and covert operations in a two-part series that was interrupted just prior to the attacks of September 11. AIG's stock has bounced back remarkably well since the attacks. To read that story, please go to www.fromthewilderness.com/ free/ciadrugs/part_2.html.

One wonders how much damning evidence is necessary to respond to what is now irrefutable proof that CIA knew about the attacks and did not stop them. Whatever our government is doing, whatever the CIA is doing, it is clearly NOT in the interests of the American people, especially those who died on September 11.

end

Mark

If America is destroyed, it may be by Americans who salute the flag, sing the national anthem, march in patriotic parades, cheer Fourth of July speakers - normally good Americans who fail to comprehend what is required to keep our country strong and free - Americans who have been lulled into a false security (April 1968).---Ezra Taft Benson, US Secretary of Agriculture 1953-1961 under Eisenhower

Kamala  posted on  2007-11-21   19:50:09 ET  Reply   Trace   Private Reply  


#2. To: Kamala (#0)

The New World Order’s “above the law” criminals -- from the Krongards and the entire Blackwater apparatus, to Bush, Cheney, Blair, and the entire membership of the Bilderberg Group -- have committed unprecedented atrocities out in the open, and have more than earned the kind of “interrogations” that they and their armed-to-the-teeth functionaries continue to inflict on political adversaries and innocent patsies in CIA prisons all over the world.

Tragically, particularly in the present milieu, it is more than likely that the Krongards will not be touched, any more than Bush, Cheney, et al will receive the punishment they deserve.

They will receive awards, like Statesman of the Year (Donald Rumsfeld). However, at some point in time, they will pay dearly.

Ron Paul for President - Join a Ron Paul Meetup group today!

robin  posted on  2007-11-21   21:57:24 ET  Reply   Trace   Private Reply  


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