cursichella1
6th September 2015, 04:20
James Corbett will be coming out with a new video on 9/11 insider trading.
Until then:
On the 911 Money Trail
These foreign leaders were not alone in their conviction that insider trading had taken place... (O)ther academics as well as well-known options traders like Jon Najarian all expressed their belief that investors had traded on advance knowledge of the attacks.
The International Forecaster
James Corbett 9/5/2015
n September 12, 2001, before the dust had even settled on Ground Zero, the Securities and Exchange Commission opened an investigation into a chilling proposition: that an unknown group of traders with advance knowledge of the 9/11 plot had made millions betting against the companies involved in the attacks.
As Antonio Mora of ABC News explained on September 20, 2001:
“What many Wall Street analysts believe is that the terrorists made bets that a number of stocks would see their prices fall. They did so by buying what they call 'puts.' If you bet right the rewards can be huge. The risks are also huge unless you know something bad is going to happen to the company you're betting against.
“One example, United Airlines. The Thursday before the attack more than two thousand contracts betting that the stock would go down were purchased. Ninety times more in one day than in three weeks. When the markets reopened, United's stock dropped, the price of the contracts soared and someone may have made a lot of money, fast.”
Although the put options on American and United Airlines are usually cited in reference to the 9/11 insider trading, these trades only represent a fraction of the suspicious trades leading up to the attack. Between August 20th and September 10th, abnormally large spikes in put option activity appeared in trades involving dozens of different companies whose stocks plunged after the attack including Boeing, Merrill Lynch, J.P. Morgan, Citigroup, Bank of America, Morgan Stanley, Munich Re and the AXA Group.
Traders weren’t just betting against the companies whose stocks dove after 9/11, however. There was also a six-fold increase in call options on the stock of defence contractor Raytheon on the day before 9/11. The options allowed the traders to buy Raytheon stock at $25. Within a week of the attack, as the American military began deploying the Raytheon-supplied Tomohawk missiles they would eventually use in the invasion of Afghanistan, the company’s share price had shot up 37% to over $34.
The SEC weren't the only ones interested in this particular 9/11 money trail, either. Investigations into potential insider trading before the attacks were opened by authorities around the globe, from Belgium to France to Germany to Switzerland to Japan. It wasn't long before this global financial manhunt started yielding clues on the trail of the terror traders.
On September 17th Italian Foreign Minister Antonio Martino, addressing Italian Consob's own investigation into potential 9/11 trading, said: "I think that there are terrorist states and organizations behind speculation on the international markets."
By September 24th the Belgian Finance Minister, Didier Reynders, was confident enough to publicly announce Belgium's "strong suspicions that British markets may have been used for transactions."
The president of Germany's central bank, Ernst Welteke, was the most adamant: "What we found makes us sure that people connected to the terrorists must have been trying to profit from this tragedy."
These foreign leaders were not alone in their conviction that insider trading had taken place. University of Chicago finance professor George Constantinides, Columbia University law professor John Coffee, Duke University law professor James Cox and other academics as well as well-known options traders like Jon Najarian all expressed their belief that investors had traded on advance knowledge of the attacks.
The scale of the SEC investigation was unprecedented. Examining over 9.5 million securities transactions, including stocks and options in 103 different companies trading in 7 markets, 32 exchange traded funds, and stock indices. The probe drew on the assistance of the legal and compliance staff of the 20 largest trading firms and the regulatory authorities in ten foreign governments. The Commission coordinated its investigation with the FBI, the Department of Justice, and the Department of the Treasury.
The result of this investigation?
"We have not developed any evidence suggesting that those who had advance knowledge of the September 11 attacks traded on the basis of that information."...
Article continues here (http://theinternationalforecaster.com/International_Forecaster_Weekly/On_the_911_Money_Trail)
Max Keiser Interview uyQberRChzI
Until then:
On the 911 Money Trail
These foreign leaders were not alone in their conviction that insider trading had taken place... (O)ther academics as well as well-known options traders like Jon Najarian all expressed their belief that investors had traded on advance knowledge of the attacks.
The International Forecaster
James Corbett 9/5/2015
n September 12, 2001, before the dust had even settled on Ground Zero, the Securities and Exchange Commission opened an investigation into a chilling proposition: that an unknown group of traders with advance knowledge of the 9/11 plot had made millions betting against the companies involved in the attacks.
As Antonio Mora of ABC News explained on September 20, 2001:
“What many Wall Street analysts believe is that the terrorists made bets that a number of stocks would see their prices fall. They did so by buying what they call 'puts.' If you bet right the rewards can be huge. The risks are also huge unless you know something bad is going to happen to the company you're betting against.
“One example, United Airlines. The Thursday before the attack more than two thousand contracts betting that the stock would go down were purchased. Ninety times more in one day than in three weeks. When the markets reopened, United's stock dropped, the price of the contracts soared and someone may have made a lot of money, fast.”
Although the put options on American and United Airlines are usually cited in reference to the 9/11 insider trading, these trades only represent a fraction of the suspicious trades leading up to the attack. Between August 20th and September 10th, abnormally large spikes in put option activity appeared in trades involving dozens of different companies whose stocks plunged after the attack including Boeing, Merrill Lynch, J.P. Morgan, Citigroup, Bank of America, Morgan Stanley, Munich Re and the AXA Group.
Traders weren’t just betting against the companies whose stocks dove after 9/11, however. There was also a six-fold increase in call options on the stock of defence contractor Raytheon on the day before 9/11. The options allowed the traders to buy Raytheon stock at $25. Within a week of the attack, as the American military began deploying the Raytheon-supplied Tomohawk missiles they would eventually use in the invasion of Afghanistan, the company’s share price had shot up 37% to over $34.
The SEC weren't the only ones interested in this particular 9/11 money trail, either. Investigations into potential insider trading before the attacks were opened by authorities around the globe, from Belgium to France to Germany to Switzerland to Japan. It wasn't long before this global financial manhunt started yielding clues on the trail of the terror traders.
On September 17th Italian Foreign Minister Antonio Martino, addressing Italian Consob's own investigation into potential 9/11 trading, said: "I think that there are terrorist states and organizations behind speculation on the international markets."
By September 24th the Belgian Finance Minister, Didier Reynders, was confident enough to publicly announce Belgium's "strong suspicions that British markets may have been used for transactions."
The president of Germany's central bank, Ernst Welteke, was the most adamant: "What we found makes us sure that people connected to the terrorists must have been trying to profit from this tragedy."
These foreign leaders were not alone in their conviction that insider trading had taken place. University of Chicago finance professor George Constantinides, Columbia University law professor John Coffee, Duke University law professor James Cox and other academics as well as well-known options traders like Jon Najarian all expressed their belief that investors had traded on advance knowledge of the attacks.
The scale of the SEC investigation was unprecedented. Examining over 9.5 million securities transactions, including stocks and options in 103 different companies trading in 7 markets, 32 exchange traded funds, and stock indices. The probe drew on the assistance of the legal and compliance staff of the 20 largest trading firms and the regulatory authorities in ten foreign governments. The Commission coordinated its investigation with the FBI, the Department of Justice, and the Department of the Treasury.
The result of this investigation?
"We have not developed any evidence suggesting that those who had advance knowledge of the September 11 attacks traded on the basis of that information."...
Article continues here (http://theinternationalforecaster.com/International_Forecaster_Weekly/On_the_911_Money_Trail)
Max Keiser Interview uyQberRChzI