Posted on 07/16/2005 1:38:48 PM PDT by wagglebee
WASHINGTON -- In the 1988 Hollywood hit "Die Hard," starring Bruce Willis, a group of "terrorists" take over a Japanese banking institution in Los Angeles, hold hostages and make demands for release of "political prisoners."
But it turns out the terrorists aren't really terrorists. They are bank robbers trying to make off with the fortune in the bank's vaults.
Could it be Osama bin Laden has seen "Die Hard"?
That is a question Scotland Yard and other law enforcement agencies are actually asking themselves following the July 7 London transit system attacks that killed 54 and injured scores more as they continue to scour the planet for evidence and additional conspirators.
Why? Because it appears some profited by short selling the British pound in the 10 days leading up to the attacks.
The pound fell about 6 percent (approximately 1.82 to 1.72) against the dollar for no apparent reason – until, of course, the terror attacks sent the British markets reeling still further.
"This was an almost unprecedented weakness and far too sharp to be a coincidence," one economist with more than 35 years of experience in the investment industry, told Joseph Farah's G2 Bulletin, the premium, online intelligence newsletter published by the founder of WND. "That is, after all, an annualized rate of loss of well over 100 percent."
The fall did not go unnoticed by investigators, who are wondering whether the terrorist masterminds behind the attacks decided to make some money on their action or whether other investors with inside information about possible attacks took advantage of that knowledge.
"Currencies of establish countries simply do not fall that fast based upon any kind of economic or financial analysis," said the economist. "Somebody – somewhere – knew something. Or maybe I should say 'somebodies.'"
Could it be the terrorists have learned to make their attacks self-funding operations?
Could it be the terrorists are actually motivated by factors other than Islamic fanaticism?
These are some of the questions law enforcement agencies are asking – but they're not really expecting to get answers.
The problem is that short selling of this kind can be done with near total anonymity.
"Trade currency futures through a Swiss or Austrian bank via an offshore company incorporated in Crete and you have a totally untraceable transaction," the economist noted. "No one will ever know who made the really big money off this situation, but I guarantee you this – someone did."
It's not the first time suspicion about terrorists – or someone – profiting from short-selling prior to an attack.
Following the Sept. 11, 2001, attacks in the U.S., David Ruder, chairman of the Securities and Exchange Commission from 1987 to 1989, raised the question of whether terrorists may have gotten away with profiting from their attacks by short-selling shares in the U.S. markets.
Then U.S. Treasury Secretary Paul O'Neill confirmed the government was investigating possible short selling, but was not optimistic those responsible would ever be found.
Short selling allows investors to bet that stocks will fall by borrowing and selling shares in the hope of buying back at a lower price.
After Sept. 11, Chicago Board Options Exchange data showed 1,575 put options purchased in United Airlines' parent company five days before the attacks. On an average day, only 390 such put options are purchased. Investors bought 2,258 put options in American Airlines parent company, compared with 220 on a typical day. Insurance and other stocks also experienced and upswing in short sales.
Investigators never revealed how much money was bet, but short sellers could have made 30 times what they invested, given the huge plunge in the stock prices of those companies.
Government investigators from around the world never learned the identity of the short sellers in 2001. And, despite vigorous efforts being made to find out who was behind the short selling of the British pound in early July, hopes are slim the culprits will be found.
You have to remember too, that when the fed raised interest rate three weeks ago the dollar v. foreign currency went up in general.
Maybe Soros is consulting with America's enemies.... ;-)
Yeah--MoveOn, DNC,...
How about Warren Buffett? It would offset some or all of his short US dollar losses.
BINGO!
This fits Soros M.O. perfectly. It also fits with his ideological obsessions, namely destroying the west at any cost.
Soros is an agent of influence created by Yuri Andropov when he was head of the KGB. Long after his old Soviet masters are dead and gone, this "not so smart bomb" keeps on going and going.
The energizer bunny of evil machnination.
Wanna bet?
No one trades billions of dollars worth of anything without a paper trail.
Eventually we'll find a way to access those documents, maybe not "legally", but we'll find a way.
Al Quada isn't stupid. If they know these attacks are coming, the world financial markets certainly offer the opportunity to profit off it. Of course, that sets up a paper trail, but they no doubt have stooges who will take the fall so the organization can reap $$Millions+ in profits--hey, its better than being a suicide bomber!
If so the stooges will be beheaded before thay can talk.
Hope it was worth it...
Absolutely. In the same time frame as referred to in the article, JPY and AUD both fell 3%+, and EUR and CHF were well lower, too. Not to say that al-Qaida might not have had a short spec play on, but they certainly weren't the whole deal here. Nor was EFB Soros (everyone's favourite bogeyman).
< /tinfoil hat >
IMHO, Soros. 'Nuff said.
They (foreign currencies) have been correcting since last February. Pound drop was keyed on interest rate cut anticipation.
Friday the dollar closed at around $1.20 to the euro and oil at around $58. The US economy continues to roll, Europe's to stall. My guess is that currency traders are well aware of the trend, and that this one can't be pinned on Soros. He seems these days to be more interested in influencing eastern Eastern European politics.
;^)
I have no doubt they will find out who the main beneficiaries of this are. And if they find out that the money originated from a Swiss account in the names of Kofi Annan and the Clintons that was established from money diverted from the oil for food scam, I wouldn't even be a little surprised.
And you would be correct in that thought. If this effort can be traced to him (a very difficult task in my experience), the consequences ought to be extreme (physical apprehension not being out of the question). Perhaps some of our friends with more experience in the currency markets might weigh in as to how such an investigation could proceed.
Yeah, but what about Soros and Buffett?
They must be behind this!
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