Now that the 10th anniversary of the terrorist attacks of September 11, 2001 approaches, I spoke with former Wall Street investment banker Catherine Austin Fitts on aspects related to the financial angle of the crime. “9/11,” she says, “is the symptom of a model of control which is centralized and top-down.”

By Lars Schall
September 3, 2011

Ms. Fitts, what are your general thoughts related to the alleged 9/11-insider trading?

CAF: Well, I’ve never been able to see concrete evidence that the insider trading has been proved. There’s a lot of anecdotal information from investment bankers and people in the investment community that indicate that there was significant insider trading, particularly in the currency and bond markets, but again it hasn’t been documented.

I think around situations like 9/11 we’ve seen things that can only be explained as insider trading. Therefore, it wouldn’t surprise me if it turns out the allegations are true, because my suspicion is that 9/11 was an extremely profitable covert operation and a lot of the profits came from the trading. It wouldn’t even surprise me if it turns out that the Exchange Stabilization Fund traded it and that some of the funding for the compensation fund for the victims came from the ESF.

Insider trading happens around these kinds of events, but if you really want to produce evidence of insider trading, you need the subpoena powers of the SEC, and of course we know that they haven’t exercised them. If anything, right after 9/11, the government settled a significant amount of cases I presume because a lot of the documents were destroyed by the destruction of WTC building number 7, where the SEC offices and other governmental investigation offices were.

If I would ask the Cui Bono question with regards to 9/11, what was your answer?

CAF: Actually I wrote an article about this, the 20 largest areas of profit on 9/11.[iii] 9/11 was extraordinarily profitable for Wall Street, they of course got a kind of “Get Out of Jail Free card“ as I’ve just described. In addition, the largest broker of government bonds, Cantor Fitzgerald, was destroyed, and there was a great deal of money missing from the federal government in the prior four or five years. If you look at the amount of funds involved, it is hard to come to a conclusion other than massive securities fraud was involved, so I find it very interesting that this happened.

In addition, the federal government took the position that they couldn’t produce audited financial statements after 9/11, because they said the office at the Pentagon that produced financial statements was destroyed. Now given what I know of the federal set up of financial statements, I am skeptical of that statement. But needless to say, if you take the government on its word, you had another “Get Out of Jail Free card“ for four trillion dollars and more missing from the federal government. So if you’re just looking at the financial fraud angle, there were a lot of parties that benefitted from 9/11. But then of course what 9/11 did, it staged the passage of the Patriot Act and a whole series of laws and regulations that I collectively refer to as “The Control on Concentration of Cash Flow Act.“ It gave incredible powers to centralize.

In addition, if you look at monetary policies right after 9/11 – I remember I was over in the City of London driving around with a money manager and his phone rang and he answered it on his speaker phone. It was somebody on Wall Street who he hadn’t talked to since before 9/11, and he said to him: “Oh Harry, I am so sorry about what has happened, it must have been very traumatic.“ And the guy said: “Don’t be ridiculous! We were able to borrow cheap short and invest long, we’re running a huge arbitrage, we’re making a fortune, this is the most profitable thing that ever happened to us!“ – So you could tell the monetary policies and sort of insider games were just pumping profits into the bank at that time, so that was very profitable. But of course the big money was used for a significant movement of the military abroad and into Afghanistan and then into Iraq. – Lars, have you ever heard the story about my experience at church on 9/11?

Not yet, but tell it, please.

CAF: Okay, so I moved to Tennessee in 1999, and from the time that I got here I joined a little church in a small town in Tennessee where I lived. About three weeks after I got here we had a sermon that was very political. Afterwards I called a friend of mine, a very successful investigative reporter in Washington DC, and I said to her: “You know, we just got this sermon and I think bla-di-bla-di-bla…“ And the reporter said to me: “How can you possibly got that in a little church in Tennessee – my best source at the CIA just called me to tell me that!“

Over the next two years what we found was that there was an extraordinary sort of coordination between what I was hearing at an occasional political sermon and then what the reporter got from sources at the FBI and the CIA. Anyway, on September 9, 2001, two days before the events of 9/11, I went to church, and it was a fantastically political sermon. Basically, what my pastor at that time said was: “The age old battle between Islam and Christianity is coming to a head, and the only way to solve this is going to war.“ He then laid out the basic battle plan: First we’re going to war in Afghanistan, then Iraq and other places, but number one was Afghanistan. So I called this reporter and said: “Have you heard we’re going to war in Afghanistan?“ And she said: “No, I haven’t heard a word.“

So lo and behold, two days later 9/11 happened, and I was just amazed. The following day was prayer service, I went to church, and the pastor on the pulpit said: “George W. Bush is anointed by God for times such as this!“ Lars, I put my head in my hands and I said: “Oh Lord, give me a sign, I don’t know what to do, please help me!“ Just at that moment my pastor said to me: “Catherine, you have worked in Washington, what do you think?“ Now, I have to tell you, Lars, from my pastor to ask me that question at that moment – that is divine intervention! (laughs.)

So I said: “Well, in my experience the Bush family is anointed by financial fraud, narcotic trafficking and pedophilia!“ My pastor gasped and said: “If that’s the case, it’s hopeless.“ And I said to him: “Don’t be ridiculous, people like the Bushes and the Clintons come and go. We have a governor, his name is God, we don’t need to worry about the Bushes.“

Link to the rest of the article 9/11 Was A Fantastically Profitable Covert Operation