I attended one of those legendary Washington dinner parties,
attended by British cosmopolites and Americans in the know.
A few courses in, people were gossiping about the Bush family's
close and enduring friendship with the Saudi ambassador,
Prince Bandar, dean of the diplomatic corps in Washington.
By the end of the evening, everyone was talking about how
the unfolding events were going to affect the flow of oil
out of Central Asia.
wondering whether 6,000 Americans might prove to have died
in New York for the royal family of Saud, or oil, or both.
But I didn't have much more than insider dinner gossip to
go on. I get my analysis from the standard all-American
news outlets. And they've been too focused on a) anthrax
and smallpox, or b) the intricacies of Muslim fanaticism,
to throw any reporters at the murky ways in which international
oil politics and its big players have a stake in what's
Nexis search brought up a raft of interesting leads that
would keep me busy for 10 years if the economics of this
war was my beat. But only two articles in the American media
since September 11 have tried to describe how Big Oil might
benefit from a cleanup of terrorists and other anti-American
elements in the Central Asia region. One was by James Ridgeway
of the Village Voice. The other was by a Hearst writer based
in Paris and it was picked up only in the San Francisco
words, only the Left is connecting the dots of what the
Russians have called "The Great Game" -- how oil
underneath the 'stans' fits into the new world order. Here's
just a small slice of what ought to provoke deeper research
by American reporters with resources and talent.
with father Bush. The former president and ex-CIA director
is not unemployed these days. He's been globetrotting as
a member of Washington's Carlyle Group, a $12 billion private
equity firm which employs a motorcade of former ranking
Republicans, including Frank Carlucci, Jim Baker and Richard
Darman. George Bush senior and colleagues open doors overseas
for The Carlyle Group's "access capitalists."
specializes in Asia and has been in and out of Saudi Arabia
and Kuwait (countries that revere him thanks to the Gulf
War) often on business since his presidency. Baker, the
pin-striped midwife of 'Election 2000' was working his network
in the 'stans' before the ink was dry on Clinton's first
inaugural address. The Bin Laden family (presumably the
friendly wing) is also invested in Carlyle. Carlyle's portfolio
is heavy in defense and telecommunications firms, although
it has other holdings including food and bottling companies.
Carlyle connection means that George Bush Senior is on the
payroll from private interests that have defense business
before the government, while his son is president. Hmmm.
As Charles Lewis of the Washington-based Center for Public
Integrity has put it, "in a really peculiar way, George
W. Bush could, some day, benefit financially from his own
administration's decisions, through his father's investments.
And that to me is a jaw-dropper."
can we assume that global businessmen like Bush Senior and
Jim Baker care about who runs Afghanistan and NOT just because
it's home base for lethal anti-Americans? Because it also
happens to be situated in the middle of that perennial vital
national interest -- a region with abundant oil. By 2050,
Central Asia will account for more than 80 percent of our
oil. On September 10, an industry publication, Oil and Gas
Journal, reported that Central Asia represents one of the
world's last great frontiers for geological survey and analysis,
"offering opportunities for investment in the discovery,
production, transportation, and refining of enormous quantities
of oil and gas resources."
assumed we need unimpeded access in the 'stans' for our
geologists, construction workers and pipelines if we are
going to realize the conservation-free, fossil-fueled future
outlined recently by Vice President Cheney. A number of
pipeline projects to carry Central Asia's resources west
are already under way or have been proposed. They would
go through Russia, through the Caucasus or via Turkey and
Iran. Each route will be within easy reach of the Taliban's
thugs and could be made much safer by an American vanquishment
of Muslim terrorism.
also lots of oil beneath the turf of our politically precarious
newest best friend, Pakistan. "Massive untapped gas
reserves are believed to be lying beneath Pakistan's remotest
deserts, but they are being held hostage by armed tribal
groups demanding a better deal from the central government,"
reported Agence France Presse just days before September
business deals, so much oil, all those big players with
powerful connections to the Bush administration. It doesn't
add up to a conspiracy theory. But it does mean there is
a significant MONEY subtext that the American public ought
to know about as "Operation Enduring Freedom"
blasts new holes where pipelines might someday be buried.
Burleigh has written for The Washington Post, The Chicago
Tribune, and New York magazine. As a reporter for TIME,
she was among the first American journalists to enter Iraq
after the Gulf War.
"Evil" This Way Comes
17, 2001-I once heard General Electric's CEO Jack Welch
comment that the key to success was to pick one consistent
message and repeat it ad infinitum. I also learned through
years of studying history and the media that in a propaganda
campaign one should divert the attention of the masses with
a simple, yet passionately inflammatory message. These two
concepts keep repeating in my mind after viewing George
W. Bush's state of the war address on Thursday Oct. 11.
entire press event on Oct. 11 lasted approximately 45 minutes.
Bush delivered a prepared address for 6 minutes followed
by a 38-minute question and answer session with the press
corps. During the 6-minute address the word evil was used
twice, 10 more times during the Q&A session. George
W. Bush used the word evil in the answer to almost every
single question, sometimes using the word twice in a single
answer. He was obviously well prepped to deliver the message.
The goal was to hammer the message home. We, the U.S., are
good and the enemy, still not entirely defined, is evil.
The extrapolated message is that since we are good, all
of our actions are good. Since the enemy is evil, all of
their actions are evil. If we, the good citizens of the
United States, receive this message that he has been hammering
into our brains, we will not question the actions of our
I receive another influx of hate mail, let me say that obviously
the attacks on Sept. 11 were evil in the sense that innocent
civilians were targeted and indiscriminate murder is easily
defined or labeled as evil. I think that's a given. But
the U.S. response to the attacks, including some of the
peripheral subplots that I'll get into shortly, are not
so easily slotted into good vs. evil. It is childish to
look at the world as black and white.
start by taking a look at all of the statements from the
Thursday address by George W. Bush using the word evil:
angry at the evil that was done to us, yet patient and just
in our response."
war on terrorism has nothing to do with differences in faith.
It has everything to do with people of all faiths coming
together to condemn hate and evil and murder and prejudice."
the Justice Department did issue a blanket alert. It was
in recognition of a general threat we received. This is
not the first time the Justice Department have acted like
this. I hope it's the last, but given the attitude of the
evildoers, it may not be."
the truth of the matter is, in order to fully defend America,
we must defeat the evildoers where they hide."
no question that the leader of Iraq is an evil man."
learned a good lesson on September the 11th, that there
is evil in this world."
know there's a lot of children in America wondering what
took place. I think it's essential that all moms and dads
and citizens tell their children we love them and there
is love in the world, but also remind them there are evil
all, on our TV screens the other day, we saw the evil one
threatening, calling for more destruction and death in America."
and dads are not only reassessing their marriage and the
importance of their marriage, but of the necessity of loving
their children like never before. I think that's one of
the positives that have come from the evildoers."
"The evil ones have sparked an interesting change in
America, I think, a compassion in our country that is overflowing."
"We don't hold any religion accountable. We're fighting
"And these murderers have hijacked a great religion
in order to justify their evil deeds."
watched the address, the word evil kept jumping out, looming
large over every answer, and I wondered if anyone else was
thinking how absurd this was. The message was clear. We
are good, so therefore all of our actions are good. They
are evil and therefore all of their actions are evil.
conflicts, such as the one with which the U.S. is now embroiled,
are always complex matters that require intense scrutiny
and discussion not only by our government, but also by the
average citizen. We are the United States, the government
should represent us, and we have the right to understand
what is going on and weigh in on the issues. To dumb down
the conversation to a simplistic good vs. evil melodrama
is an insult to the intelligence of the American people
as well as a disservice to the memory of the victims of
the terrible attacks of Sept. 11.
the good vs. evil message successfully driven home, one
must now address the second part of my hypothesis. What
are we being diverted from focusing our attention on? Here
are a few items that I believe deserve further investigation
and discussion, by all Americans. I only mention each briefly
and there are many more questions that need to be addressed.
Aid - The current administration realizes that citizens
have been quite critical of past military actions because
of collateral damage and other humanitarian issues. We are
told by our government that we are doing a wonderful job
shipping humanitarian aid to the Afghan people, but the
international experts in humanitarian aid are jumping up
and down screaming that we aren't. In fact, the Afghan citizens
were getting much more aid before we started bombing. There
have been many complaints that we are dropping food into
land mine fields, tempting children to their death. The
international organization Doctors Without Borders has condemned
our humanitarian program as military propaganda. It's wonderful
to involve our children in the cause (George W. Bush asked
the children of America to send money to help the children
of Afghanistan, which is a great lesson in social responsibility),
but it is no substitute for a true and serious humanitarian
aid program by our government.
Carlyle Group - Follow the money. Who will profit from this
war? A private investment organization known as the Carlyle
Group that invests heavily in military contracting. Members
include Republican strong-arm lawyer James Baker III (seen
often during the Florida vote counting), former Defense
Secretary Frank Carlucci (Secretary of Defense Donald Rumsfeld's
college roommate), Fred Malek (George H.W. Bush's campaign
manager, better known as Nixon's "Jew counter")
and other wealthy Republican government families, probably
the Bushes and most frighteningly the bin Ladens of Saudi
Arabia. You can search the web on the Carlyle Group for
information. A recent article in the Baltimore Chronicle
is a good place to start. I think that this blatant conflict
of interest should send the collective spider sense tingling
for all of the world's inhabitants. Tompaine.com has an
article titled "Missing the Oil Story" that relates
the Carlyle Group to my next item.
- Gee, didn't see this one coming. I found several articles
on September 12 discussing the U.S. oil interests that seem
to be in the forefront of the administration's agenda. Here's
a quick quote from an article at the Frontier Post, "The
US Ambassador to Pakistan, Wendy Chamberlain, paid a courtesy
call on the Federal Minister for Petroleum and Natural Resources,
Usman Aminuddin, here Tuesday (Oct. 9, 2001) and discussed
with him matters pertaining to Pak-US cooperation in the
oil and gas sector." You should check out articles
at the BostonGlobe.com, Tompaine.com, and the article "US
companies to invest in Pakoil, gas sectors" from frontierpost.com.
Lies - It's a well known fact that CNN was a puppet mouthpiece
for the George H. W. Bush administration during the Persian
Gulf War. The other networks marched right along. Investigative
reporting was out the door. Who can forget that old chestnut,
"The Patriot Missile has a 90 percent success rate."
In fact, the Patriot was a horrible failure. We even sold
bubble gum cards to children with false statements about
our weapons and their accuracy. The truth is that we bombed
the hell out of innocent civilians. And innocent civilians
are innocent civilians, whether they work in a poor village
in Iraq or the Twin Towers in New York. This is just one
of a myriad of lies that were reported as truth during that
war. Why would we assume that we are being told the truth
this time? For the most part, it's the same bunch of guys
running the show.
- Keep us pumped full of fear (state of alert warnings without
reasons why or what to do) and maybe we won't notice that
the Bill of Rights has been tossed out the door. Continually
criticize senators and congressmen as partisan or unpatriotic
whenever they disagree or question the Bush administration
on any issue (whether it relates to the fight on terrorism
or not) and eventually they'll shut up, agree to everything,
and stop representing those who elected them to office.
Terrorist Training Camps - George W. Bush emphatically stated
that we were going to comb the globe to stamp out terrorism
wherever we find it. Well, we've been training terrorists
at the School of the Americas (SOA) in Ft. Benning Georgia,
for decades-now known as Western Hemisphere Institute for
Security Cooperation (WHISC). Many famous human rights violators,
such as Manuel Noriega, were trained there before signing
on to the U.S. payroll to help with CIA operations in Latin
America. It has also been reported that we are now picking
and choosing which terrorist organizations we'll go after
based on who we need in our coalition against Osama bin
Laden. In other words, U.S. sanctioned terrorists are okay
and, therefore, not evil. We should clean up our own closets
while we're combing the globe. Just track down Sister Gwen
Hennesey, an elderly nun from Dubuque, Iowa, who is still
sitting in a prison cell for protesting the actions of the
School of the Americas. I'm sure she'll tell you all about
it. You can write to her in prison at: Sister Hennesey,
#90288-020 FPC Pekin, PO Box 6000, Pekin, IL 61555. You
can also search for the web site, School of the Americas
are just a few of the actions taking place that will affect
every American citizen, and we would be wise to keep our
eye on the ball. I don't have all of the answers, but I
sure have a lot of questions. A childlike fairy tale of
good vs. evil is just not cutting it for me.
our government in time of crisis? Sure. Give us information,
let us scrutinize the information, and as long as the government's
actions are legit it will get our support. A nation united?
Sure, as long as we are standing together for justice. United
as long as we demand and receive the truth so that we can
end a 60-some year stretch of military-related lies. Blind
faith when we have been lied to continually for decades,
lies which have created the situation that we now face?
Our answer should be simple, passionate, and we should repeat
it ad infinitum. No.
message has not been repeated enough I'll take one more
shot at it. We, the average citizens of the United States,
need to demand the facts from our government so that we
can decide if the are actions being taken are ones we can
support. We need to decide if the actions are justified
and appropriate, because to accept what we know to be morally
wrong would be, well . . . evil.
The CIA's Wall Street Connections
Transcript of interview with Michael C. Ruppert
on Guns and Butter:
The Economy Watch with Kellia Ramares
and Bonnie Faulkner
on KPFA 94.1 FM, Berkeley, CA Friday, October 12, 2001
On September 29, The San Francisco Chronicle reported that
investors had 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. The uncollected money
raises suspicions that the unidentified investors had advance
knowledge of the attacks. The securities and exchange commission
is investigating high levels of short sales and purchases
of "put" options, on the stocks of United Airlines
and American Airlines in the three business days before
the attacks. Short sales and put options are bets that a
stock will fall in price.
the Interdisciplinary Center, a counter-terrorism think
tank headed by former Israeli intelligence officers, has
issued a report on Osama bin Laden's finances, saying insiders
profited by nearly $16 million dollars on transactions involving
the two airlines and the investment banking firm Morgan
Stanley, which occupied 22 floors of the World Trade Center.
And that report excluded other unusual trading activity
involving insurance companies with significant exposure
to damage claims resulting from the attacks.
us by phone from Southern California is Michael C. Ruppert.
Ruppert is a former Los Angeles Police Department field
officer and narcotics investigator whom the CIA twice tried
course of investigations in the mid 1970s, he came across
information the CIA was trading drugs in order to fund covert
operations. He was forced out of the LAPD in November 1978
after being shot at and threatened for speaking out about
CIA drug activity.
Town Hall meeting on November 15, 1996, Ruppert publicly
confronted then-CIA director John Deutsch with information
about three specific CIA drug operations. The confrontation
led to an invitation to appear before the Senate Select
Committee on Intelligence, where he spoke and presented
written evidence concerning the CIA's infiltration of and
illegal relationships with a number of police departments
throughout the country.
Ruppert publishes "From The Wilderness," a magazine
which deals with the effects of illegal covert operations
on our society.
here today to discuss his latest article for that magazine
. . . about the CIA's knowledge of, and connections to,
the suspect trading that occurred in the days prior to the
attacks on the World Trade Center and the Pentagon.
Ruppert, welcome to "Guns and Butter: The Economy Watch."
Good to be here.
Good to have you. Do you think the CIA had advance knowledge
of the attacks? Did they know a specific attack was coming?
I am absolutely convinced that the Central Intelligence
Agency had complete and perfect foreknowledge of the attacks,
down to date, time place and location, yes.
Tell us how the CIA monitors the stock market.
Well, I have written several stories about this over the
years. One of the primary functions of the Central Intelligence
Agency by virtue of its long and very close history of relationships
with Wall Street, I mean to the point where the current
executive vice president of the New York Stock Exchange
is a retired CIA general counsel, has had a mandate to track,
monitor, all financial markets worldwide, to look for anomalous
trades, indicative of either economic warfare, or insider
currency trading or speculation which might affect the US
Treasury, or , as in the case of the September 11 attacks,
to look for trades which indicated foreknowledge of attacks
like we saw.
of the vehicles that they use to do this is a software called
Promis software, which was developed in the 1980s, actually
1979, by Bill Hamilton and a firm called INSLAW, in [the]
Washington D.C. area. And Promis is very unique for two
reasons: first of all, it had the ability to integrate a
wide range of databases using different computer languages
and to make them all into one readable format. And secondly,
in the years since, Promis has been mated with artificial
intelligence to even predict moves in markets and to detect
trades that are anomalous, as a result of those projections.
So, as recently as last year, I met with members of the
RCMP [Royal Canadian Mounted Police] national security staff,
who came down to Los Angeles where I am, who are investigating
stolen applications of Promis software and its applications,
and we reconfirmed at that time that, not only the US, but
Israel, Canada, and many other countries use Promis-like
software to track real-time trades in the stock markets
to warn them of these events.
Kellia Ramares here. Mike, is it possible that the terrorists
could have gotten hold of this software?
Uh, no, it's, well, it is and it isn't. The key piece of
evidence around September 11 is not that the software would
have had any impact. The key evidence, as I heard you describing,
was the trades themselves, the so-called put options and
the short selling of American Airlines, United Airlines,
Merrill Lynch, Morgan Stanley, and a couple of reinsurance
companies in Europe, which are just really off the maps.
You wouldn't need software to look at these trades and say,
"Oh my God, this is directly connected to World Trade
OK, but hindsight is 20-20. United Airlines had a lot of
trouble last year: labor disputes, lots of cancellations.
We were on a verge of a recession going into the attacks
and Morgan Stanley's an investment banking firm. Some day
traders could have seen some activity and joined the party
entirely innocently. How can you make a prediction of an
Herzliyah, International Policy Institute in Israel which
tracks counter-terrorism, also tracks financial trading.
That's a clear cut sign about how closely the two are related.
And their reports are very clear that between September
6 and 7 the Chicago Board Options Exchange, CBOE, saw purchases
of 4,744 put options on UAL, but only 396 call options.
On September 10, the day before the attacks, 4,516 put options
were placed on American Airlines, against only 748 calls,
calls being bets that the stock will go up, puts being that
the stock will go down. No similar trading in any other
airlines occurred on the Chicago Exchange in the days immediately
preceding Black Tuesday. That means that someone had advance
knowledge that only the stocks of these two airlines would
be adversely impacted. Had it just been an industry-wide
slump, then you would have seen the same kind of activity
on every airline, not just these two. But what is also very
anomalous, very out of whack here, is the fact that the
number of put options placed, that the level of these trades
was up by 1,200 percent in the three days prior to the World
Trade Center attacks.
Give us a brief overview, really, of the connections between
the CIA and the banking and investment community. Your article
suggests there is a revolving door between Wall Street and
Oh, indeed there is. First of all, it's very important to
note right up front that European investigators, who are
tracking trades in the insurance companies, as well as the
Israeli institute, have disclosed that the UAL put options
were primarily held by Deutsche Bank-A.B. Brown. And its
very important to note that the current Number Three at
CIA, the Executive Director, a man by the name of A.B. "Buzzy"
Krongard, was, until 1998, the chairman of A.B. Brown. The
company went from being owned by Banker's Trust to being
owned by Deutsche Bank. But this is a man effectively running
CIA, who came from the bank that handled the trades.
speaking, we go back to 1947, we look at Clark Clifford,
who wrote the National Security Act, in 1947. He was a Wall
Street banker, and a lawyer from Wall Street. He was the
chairman of First American Bancshares that brought BCCI
onto US shores in the late 1980s. He was given the design
for the CIA by John Foster and Allen Dulles, two brothers:
John Foster becoming Secretary of State, Allen becoming
director of Central Intelligence, who was fired by John
Kennedy. They were partners in what is until this day the
most powerful law firm on Wall Street: Sullivan Cromwell.
Bill Casey, the legendary CIA director from the Reagan/Iran
Contra years, had been chairman of the Securities and Exchange
commission under Ronald Reagan. He, in fact, was a Wall
Street lawyer and a stockbroker. I've already mentioned
Dave Doherty, the Vice President of NYSE [New York Stock
Exchange] who is the retired CIA general counsel. George
Herbert Walker Bush is now a paid consultant to the Carlyle
Group, the 11th largest defense contractor in the nation,
very influential on Wall Street. "Buzzy" Krongard
is there. John Deutsch, the former CIA director, who retired
a couple of years ago, a few years ago, is now on the board
of Citibanc or Citigroup. And his number three, Nora Slatkin,
the Executive Director at CIA is also at Citigroup. And
Maurice "Hank" Greenburg, who is the chairman
of AIG insurance, which is the third largest investment
pool of capital in the world, was up to be the CIA director
in 1995 and Bill Clinton declined to nominate him. So there
is an inextricable and unavoidable relationship between
CIA and Wall Street.
Michael Ruppert, this is Bonnie Faulkner. Does the CIA itself
invest in the stock market?
That's unknown. What is known, and what was disclosed by
hearings chaired by Senator Frank Church in 1976, is that
the CIA was known and proven in the Congressional Record
to operate proprietary companies, some of which do trade
their stock on Wall Street. One of these, Southern Air Transport,
excuse me, was at it during the Iran Contra years. There
are others: Evergreen Air, which may or may not be a proprietary,
but has strong CIA connections; there are tons of these
companies out there. It's not known if CIA manipulates markets,
although I really believe that they do.
Is the CIA's budget public knowledge?
No. By law. Under the National Security Act of 1947 the
CIA's budget is hidden in the budgets of all the other departments
of government. We've never been able to pin down, because
it's a secret, exactly how much money CIA gets. But the
best estimates available-and these are from very good sources-are
that it's around 30 billion dollars a year.
So I'm assuming then that no one knows where they keep their
budget. I mean, do they keep it in the bank drawing interest?
I guess we don't know.
Well, no, the way it would work under the NSA-National Security
Act-is that if the budget is $30 billion, $10 billion may
be in the Department of Defense, five in the Department
of Justice, three in US Treasury. That's how they hide the
Michael, Kellia Ramares again. You've laid out a scenario
which would suggest that the CIA is so involved in Wall
Street, they knew these trades were happening; they knew
why. Why would the CIA let such a horrendous thing happen
if they knew about it? All the loss of life, all the economic
damage that we led off our show with that's going to happen
to everyday people, state and local governments, small investors,
businesses. Why did they let it happen if they knew?
Well, first of all, let's look at history. I'm a great addict
of the History Channel and all this year on "The Secrets
of World War II," one of their series, they have run
maybe three, four, five times, a documentary showing clearly
that Franklin Roosevelt had absolute knowledge that the
Japanese were going to attack Pearl Harbor on December the
seventh. Navy had broken the codes. That information was
made Top Secret. And Roosevelt allowed the attacks to happen
with the express purpose of bringing the US into World War
II. So there is historical precedent for this. What I have
been writing in "From the Wilderness" for more
than two years, and we've been publishing four years now,
was of huge economic inconsistencies, bubbles that were
about to burst, about a pending collapse of the US economy
that was going to happen anyway.
two days before the attacks, I sent a bulletin to my subscribers
saying there's a monstrous derivatives bubble, to the tune
of about 20 trillion dollars that's about to burst. The
price of gold has been manipulated, and the stock market's
ready to crash. And in fact, we had seen the Dow drop by
almost 900 points in the three weeks prior to the attack.
So, in point of fact, the economic crash was going to happen
anyway. As a result of the attacks, now there are two benefits
for the government: Number One, there is a convenient enemy
upon whom to place the blame for the economic crash. And
second, the legislation passed by Congress has unleashed
a torrent of short term, and what are going to be extremely
expensive, solutions which are keeping the US economic bubble
inflated. This incentive: now it's about 100 billion dollars
so far I believe, between 40 for the military and another
60 in tax cuts, is robbing Peter to pay Paul. And I am absolutely
convinced that Social Security is toast and this was their
way to get their foot in the door on that.
Yes, but what about their plans to privatize Social Security?
I don't want my retirement in the stock market after what
you've said and even what I saw before.
I sure don't either. You have to remember that the current
Bush administration is a reincarnation of the administration
we saw during Iran-Contra, and during the years of President
Bush's presidency from '89 to '93. These are the people
who brought us the savings and loan crisis, which took $500
billion dollars out of US taxpayer pockets. These guys know
how to loot an economy. There are very credible, well-documented
stories from GAO [General Accounting Office] that have been
written even in the Washington Times [a very conservative
newspaper] showing that the Department of Defense has, and
this is the right word, has lost more than three trillion
dollars in the last two years. That money is not lost; it's
than 59 billion dollars has been taken out of HUD [US Department
of Housing and Urban Development]. There are monstrous economic
costs which are going to fall on the American taxpayer.
But they will not fall on the administration or its allies
on Wall Street.
Speaking of Wall Street, it doesn't feel like it's a level
playing field for the small investor, the person who has
their kid's college fund in something in Wall Street to
try to make it grow.
No. It absolutely is not. In 1929, some 15 percent of all
the stock in circulation was owned by households. In 2001,
75 percent of the stock in circulation was owned by households.
That tells you who's carrying the burden.
look at some of the market activity in recent years, for
example, two years ago, Goldman Sachs went public. And that
means that households bought their stock but Goldman Sachs
took the money and cashed out. There has been a strong trend
in the movement of money by the very rich offshore, out
of the country, into safe havens, so that when the bubble
does break, it'll be the taxpayer holding the bag.
Is Congress knocking on your door to look more into this?
Are we going to see congressional hearings into possible
knowledge of the CIA of the attacks? I mean we're talking
about they let mass murder happen.
Yes . . . I have spoken confidentially to two members of
the House of Representatives. And I have to tell you that
my take on their view, and these are members who I consider
to be allies and very progressive and awake: they're basically
frightened. The climate is one of near hysteria. There is
an overwhelming attitude in the general public of wave the
flag and kill the bad guys. And it's not politically wise,
I guess, in their viewpoint, to risk their careers by raising
questions. But some of them have to and some of them must.
there are more and more holes in all of the stories surrounding
September 11, and this avoids people from looking at a broader
agenda in Central Asia, which has to do with the drug trade
and the oil. Bear in mind that Senator Carl Levin (D-Mich.)
has documented that 300 billion dollars a year in drug money
moves through the US banking system. And that was in a minority
report to the Senate Banking Committee released this February,
I believe it was. But that money is now an integral component
to sustaining the bubble. And that's why we're seeing CIA
operatives moving willy-nilly into Uzbekistan, to give us
immediately another Laos, just like we had in the Vietnam
era with Air America planes flying with tons of heroin to
markets in the US and Western Europe. And that's what's
coming out of this. Also, there's a huge grab for oil and
a major pipeline to run from Uzbekistan down to the Pakistani
coast, which will weaken Russia's grip on the region. And
I believe, long term, the economic motive is to Balkanize
Russia. But members of Congress now faced with this are
kind of overwhelmed. There have been a few voices speaking
up here and there to oppose civil rights legislation that
was punitive, to address issues of the war-making powers.
But Congress needs to find its legs and its lungs real quickly.
Michael Ruppert, this is Bonnie Faulkner. We have one minute
left. You've mentioned when the bubble is going to burst.
A lot of people think that the bubble has already burst
What do you expect to see?
I was already predicting that the Dow would be at 8,000
or below by the end of October. Now the . . . who knows
what the short-term impacts of all of the money that's being
poured out of the Treasury are going to have. But bear in
mind there is still a huge bubble. According to Russian
economists-I was in Russia in March-there's 300 trillion
dollars in derivatives waiting to pop. Now what that means
is one more good terrorist attack and we could really understand
what a bubble is.
And the FBI has said watch out for terrorist attacks in
the next few days and the CIA says that we're at 100 percent
risk of terrorist attacks. Give us your web site and little
bit about your magazine for those who might be interested
in learning more.
OK, the web site is www dot cop v like in Victor CIA dot
com. Copvcia.com. "From the Wilderness" is a newsletter
we publish 11 times a year. We're read in 17 countries,
by 16 members of the US Congress, including the Intelligence
Committees of both houses, as well as by professors at 11
universities in the US and Canada. It's a monthly subscriber.
The web site is free; the subscribers get a little more
information and a little newer. But we take great pride
in the fact that we document everything that we publish
so we don't ask anybody to take anything on faith.
OK, Thank you very much for joining us. You have been listening
to Michael C. Ruppert, publisher of "From the Wilderness"
magazine and author of an article on the CIA, the stock
market and the terrorist attacks. Again his web site is
www.copvcia.com. Again, thank you for joining us.
Group Blasts Papa Shrub
On Bin Laden Link
Sr. Could Profit From War
Klayman likes suing the United States government. Over the
last seven years as chairman and general counsel of Judicial
Watch, a public interest law firm in Washington, he has
filed over 150 lawsuits against the feds, including more
than 80 against former president Bill Clinton himself. Called
the Ralph Nader of the right, Klayman has litigation habits
considered by some Beltway insiders as wildly ambitious.
Others think he's just plain crazy.
now Klayman and Judicial Watch are pawing in disbelief through
President George W. Bush's past business connections with
the Saudi-based Bin Laden family. The firm is demanding
that GWB's father, the original President Bush, immediately
resign from his post as a paid senior adviser to the Carlyle
Group, a private Washington equity firm that according to
The New York Times has essentially become the nation's 11th
largest defense contractor.
investors include the Bin Laden family, which has disowned
its terrorist son Osama; Bush Sr.; and former Bush inner
guard members Nick Carlucci and James Baker. Judicial Watch
says all involved stand to benefit from any increase in
U.S. defense spending.
mind-boggling," says Klayman. "This conflict of
interest has now turned into a scandal." With the recent
U.S. air strikes in Afghanistan, Klayman says, the conflict
of interest is now "direct."
questions why Bush the Younger is not aggressively pursuing
Saudi Arabia, a country known to harbor terrorists. He points
to Bush the Elder's business connections there, like the
Saudi-based Bin Laden family, through Carlyle. "President
Bush should not ask, but demand, that his father pull out
of the Carlyle Group," says Klayman.
former president Bush-who has continued advising his son
on handling the war on terrorism-nor the Carlyle Group returned
calls seeking comment.
case of "like father, like son," President Bush
also had connections to the Carlyle Group, the Voice has
learned. In the years before his 1994 bid for Texas governor,
Bush owned stock in and sat on the board of directors of
Caterair, a service company that provided airplane food
and was also a component of Carlyle. For his consulting
position, Bush was paid $15,000 a year, according to a Texas
insider, and a bonus $1000 for every meeting he attended-roughly
$75,000 in total. Reports show Carlyle was also a major
contributor to his electoral fund.
hearing about the Bush-Bin Laden family connection, other
Washington nonprofits have joined Judicial Watch in expressing
is as deeply wired into the current administration as they
can possibly be," Charles Lewis, executive director
of the Center for Public Integrity, told Bushwatch.org.
"George Bush is getting money from private interests
that have business before the government, while his son
is president. And, in a really peculiar way, George W. Bush
could, some day, benefit financially from his own administration's
decisions, through his father's investments. The average
American doesn't know that. To me, that's a jaw-dropper."
Laden Family Could Profit
From A Jump In Defense Spending
Due To Ties To U.S. Bank
Daniel Golden, James Bandler
and Marcus Walker Staff Reporters of
THE WALL STREET JOURNAL
27 September 2001
inquiry into bin Laden family business dealings could brush
against some big names associated with the U.S. government.
Former President Bush said through his chief of staff, Jean
Becker, that he recalled only one meeting with the bin Laden
family, which took place in November 1998. Ms. Becker confirmed
that there was a second meeting in January 2000, after being
read the ex-president's subsequent thank-you note. "President
Bush does not have a relationship with the bin Laden family,"
says Ms. Becker. "He's met them twice."
Report: Aftermath of Terror Bin Laden Family Could Profit
From a Jump In Defense Spending Due to Ties to U.S. Bank
By Daniel Golden, James Bandler And Marcus Walker, Staff
Reporters of 'THE WALL STREET JOURNAL'
U.S. boosts defense spending in its quest to stop Osama
bin Laden's alleged terrorist activities, there may be one
unexpected beneficiary: Mr. bin Laden's family.
its far-flung business interests, the well-heeled Saudi
Arabian clan -- which says it is estranged from Osama --
is an investor in a fund established by Carlyle Group, a
well-connected Washington merchant bank specializing in
buyouts of defense and aerospace companies.
this investment and its ties to Saudi royalty, the bin Laden
family has become acquainted with some of the biggest names
in the Republican Party. In recent years, former President
Bush, ex-Secretary of State James Baker and ex-Secretary
of Defense Frank Carlucci have made the pilgrimage to the
bin Laden family's headquarters in Jeddah, Saudi Arabia.
Mr. Bush makes speeches on behalf of Carlyle Group and is
senior adviser to its Asian Partners fund, while Mr. Baker
is its senior counselor. Mr. Carlucci is the group's chairman.
is one of more than 50 children of Mohammed bin Laden, who
built the family's $5 billion business, Saudi Binladin Group,
largely with construction contracts from the Saudi government.
Osama worked briefly in the business and is believed to
have inherited as much as $50 million from his father in
cash and stock, although he doesn't have access to the shares,
a family spokesman says. Because his Saudi citizenship was
revoked in 1994, Mr. bin Laden is ineligible to own assets
in the kingdom, the spokesman added.
bin Laden family has long disavowed Osama, and has cooperated
fully with several federal investigations into his activities.
The family business, headed by Osama's half-brother Bakr,
epitomizes the U.S.-Saudi alliance that the suspected terrorist
often rails against. After the 1996 truck bombing in Dhahran,
Saudi Arabia, that killed 19 U.S. servicemen, Saudi Binladin
Group built military barracks and airfields for U.S. troops.
the Federal Bureau of Investigation has issued subpoenas
to banks used by the bin Laden family seeking records of
family dealings, a person familiar with the matter said.
This person said the subpoenas weren't an indication the
FBI had found any suspicious behavior by the family. A family
spokesman said he had no knowledge of the subpoenas but
that the family welcomes them and has nothing to hide.
familiar with the family's finances say the bin Ladens do
much of their banking with National Commercial Bank in Saudi
Arabia and with the London branch of Deutsche Bank AG. They
also use Citigroup Inc. and ABN Amro, the people said.
there were ever any company closely connected to the U.S.
and its presence in Saudi Arabia, it's the Saudi Binladin
Group," says Charles Freeman, president of the Middle
East Policy Council, a Washington nonprofit concern that
receives tens of thousands of dollars a year from the bin
Laden family. "They're the establishment that Osama's
trying to overthrow."
Freeman, who served as U.S. ambassador to Saudi Arabia during
the Gulf War, says he has spoken to two of Osama's brothers
since hijacked airplanes rammed the World Trade Center and
the Pentagon on Sept. 11. They told him, he says, that the
FBI has been "remarkably sensitive, tactful and protective"
of the family during the current crisis, recognizing its
longstanding friendship with the U.S.
executive said the bin Laden family committed $2 million
through a London investment arm in 1995 in Carlyle Partners
II Fund, which raised $1.3 billion overall. The fund has
purchased several aerospace companies among 29 deals. So
far, the family has received $1.3 million back in completed
investments and should ultimately realize a 40% annualized
rate of return, the Carlyle executive said.
a foreign financier with ties to the bin Laden family says
the family's overall investment with Carlyle is considerably
larger. He called the $2 million merely an initial contribution.
"It's like plowing a field," this person said.
"You seed it once. You plow it, and then you reseed
Carlyle executive added that he would think twice before
accepting any future investments by the bin Ladens. "The
situation's changed now," he said. "I don't want
to spend my life talking to reporters."
inquiry into bin Laden family business dealings could brush
against some big names associated with the U.S. government.
Former President Bush said through his chief of staff, Jean
Becker, that he recalled only one meeting with the bin Laden
family, which took place in November1998. Ms. Becker confirmed
that there was a second meeting in January 2000, after being
read the ex-president's subsequent thank-you note. "President
Bush does not have a relationship with the bin Laden family,"
says Ms. Becker. "He's met them twice."
Baker visited the bin Laden family in both 1998 and 1999,
according to people close to the family. In the second trip,
he traveled on a family plane. Mr. Baker declined comment,
as did Mr. Carlucci, a past chairman of Nortel Networks
Corp., which has partnered with Saudi Binladin Group on
President Carter met with 10 of Osama's brothers early in
2000 on a fund-raising trip for the Carter Center in Atlanta.
According to John Hardman, executive director of the center,
the brothers told Mr. Carter that Osama was completely removed
from the family. After Mr. Carter and his wife followed
up with breakfast with Bakr bin Laden in New York in September
2000, the bin Laden family gave $200,000 to the center.
"We don't have any reason to think there's a connection"
between Osama and the rest of the family, Mr. Hardman says.
the past several years, the family's close ties to the Saudi
royal family prompted executives and staff from closely
held New York publisher Forbes Inc. to make two trips to
the family headquarters, according to Forbes Chairman Caspar
Weinberger, a former U.S. secretary of defense in the Reagan
administration. "We would call on them to get their
view of the country and what would be of interest to investors."
Weinberger said no trips to Saudi Arabia were planned. "If
we went," he said, "we may or may not call upon
them. I don't think the sins of the son should be visited
on the father or the brother and the cousins and the aunts."
is no indication President George W. Bush has met any of
the bin Ladens, but he was indirectly linked to one of them
two decades ago. His longtime friend James W. Bath, who
met Mr. Bush when they were both pilots in the Air National
Guard, acted as a Texas business representative for Osama's
older brother, Salem bin Laden, from 1976 to 1988, when
Salem died in a plane crash. Mr. Bath brought real-estate
acquisitions and other deals to Salem bin Laden, an ebullient
man who headed the family construction business. Mr. Bath
generally received a 5% interest as his fee, and was sometimes
listed as a trustee in related corporate documents. Mr.
Bath acknowledged that during the same period he invested
$50,000 in two funds controlled by Mr. Bush but said that
stake was unrelated to his dealings with Mr. bin Laden.
the properties that Salem bin Laden bought on Mr. Bath's
recommendation was the Houston Gulf Airport, a lightly used
airfield in League City, Texas, 25 miles east of Houston.
But Mr. bin Laden's hope that it would develop a major overflow
airport for Houston never materialized, in part due to concern
over wetlands. Ever since his death, his estate has sought
to sell the airfield -- without success. Today, it is still
on the market.
Sr. Should Stop Working for International Equity Firm
While Son is President
of Interest Could Cause Problems For America's Foreign Policy
in Middle East
D.C.) Judicial Watch, the public interest law firm that
investigates and prosecutes government abuse and corruption,
called on former President George Herbert Walker Bush to
resign immediately from the Carlyle Group, a private investment
firm, while his son President George W. Bush is in office.
Today's New York Times reported that the elder Bush is an
"ambassador" for the $12 billion private investment
firm and last year traveled to the Middle East on its behalf.
The former president also helped the firm in South Korea.
New York Times reported that as compensation, the elder
Bush is allowed is allowed to buy a stake in the Carlyle
Group's investments, which include ownership in at least
164 companies throughout the world (thereby by giving the
current president an indirect benefit). James Baker, the
former Secretary of State who served as President George
W. Bush's point man in Florida's election dispute, is a
partner in the firm. The firm also gave George W. Bush help
in the early 1990's when it placed him on one of its subsidiary's
board of directors.
is simply inappropriate. Former President Bush should immediately
resign from the Carlyle Group because it is an obvious conflict
of interest. Any foreign government or foreign investor
trying to curry favor with the current Bush Administration
is sure to throw business to the Carlyle Group. And with
the former President Bush promoting the firm's investments
abroad, foreign nationals could understandably confuse the
Carlyle Group's interests with the interests of the United
States government," stated Larry Klayman, Judicial
Watch Chairman and General Counsel.
are now bound to be raised if the recent Bush Administration
change in policy towards Iraq has the fingerprints of the
Carlyle Group, which is trying to gain investments from
other Arab countries who would presumably benefit from the
new policy," stated Judicial Watch President Tom Fitton.
Watch noted that even the Clinton Administration called
on the Rodham brothers to stop their business dealings in
Georgia because those dealings started to destabilize that