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 the
"Cui Bono?"
UnAnswered Questions
"We are America's...
-Oldest company
-Largest company
-Busiest company
-Most successful company"
--DOD 101, an introductory overview of the Department of Defense from their website (1)
"Pass a law, make a business."
-- Old New Jersey street saying
Something 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 (2);
We have watched many deeply disturbing unanswered questions of 9-11 emerge through global Internet media (3);
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 fact;
We have watched the US government suppress facts and restrict of the 9-11 Commission's access to information (5);
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 (6);
We have noted the material ommissions of the corporate media (7);
Something does not add up. Someone has something to hide.
"Cui Bono?"
"Cui Bono?" is Latin for "who benefits?"
Is 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 benefiting.
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 profiteering.
Top 20 Areas of 9-11 Profiteering
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 Treasury
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 Money?
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 leadership.
Useful Links:
Le Metropole Cafe
Sanders Research Associates
Scoop Media
From the Wilderness
No More Fake News
Tom Flocco
Federal Credit Arbitrage & Relaxed Monetary Policy
Financial 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
Sanders Research Associates
US Military and Policing Deployment Globally
With 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 offshore.
Useful Links:
Centre for Research on Globalization
From the Wilderness
UnAnswered Questions re: CSC DynCorp
Eagle Eye
DynCorp wins $1.75 global policing contract to support
US Department of State $6 billion contact support for civilian policing missions
http://biz.yahoo.com/prnews/040224/latu054_1.html
Scoop Media
The American Tapeworm
Eurasian Oil & Gas/Afghanistan & Iraq War & Occupation
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 areas.
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
citizens.
Useful Link:
Under New Bill, Taxpayers to Underwrite Insurance Losses
Airline & Other Special Legislation
Additional 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 category.
Useful Link:
Tom Flocco
Increased 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
Gold Anti-Trust Action Committee
Is Silver Scandal on the Horizon?
2004/03/30/National/Is.Silver.Scandal.On.The.Horizon-632699.shtml
Fund Raising for Trusts & Endowments
While 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?
Useful Link:
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 Voting
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 profits.
Useful Links:
Major Media Suppress Recount Study of Florida Vote
Scoop 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
Centre 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 100
amlaw/2003/amlaw100/amlaw_100main.html
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 government.
Useful Link:
The Real Deal on Enron
Promotions
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 carefully.
Useful Link:
They Let it Happen on Purpose
**** # # # ****
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 flows.
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 Counsel:
"Follow the Money"
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ABOUT THE AUTHOR:
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 UnAnsweredQuestions.org and publishes The Real Deal, a column with Scoop Media in New Zealand.
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© Copyright Catherine Austin Fitts 2004. For fair use only/ pour usage équitable seulement.
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