Only read this if you care about ending terrorism and war, and you'd like to see some of your tax money going to good stuff instead of evil.
I finally looked up some of the old files I saved concerning the links between the Bush Crime Family and international financial support of terrorists, because of the SWIFT story that the White House wanted to be supressed last week.
(I copied this from From the Wilderness way back when, but wasn't saving hyperlinks at the time. Whatever you may think of FTW as a source of tin hat theories, the facts are out there on this story, and I appreciate the work that FTW did to collect and organize the dots for us to connect... this is all old news, but everyone has ignored it for 5 years now.) My question for the day is, will NPR's Diane Rheim Show discuss any of this - look at all the well-known insider Washington names in the following articles... or will they just do a fluff job on their discussion of the SWIFT story today___
(UPDATE: fluff.)
In 2001, right after he was inaugurated, Dubya flat out refused to join the other civilized in opening numbered bank accounts to legitimate examination. It was February 2001, at the G7 meeting: an initiative by the Organization for Economic Cooperation and Development to stop tax evaders from hiding money in offshore havens. "The OECD last July named thirty-five jurisdictions that offered foreigners secrecy, or no taxes and protection from inquiries by home-country legal and tax authorities. The Bush Administration's actions represent a continuation of policies--interrupted only by the brief Clinton moves--that go back to the Reagan era, and that in the past have been defended as based on US opposition to impeding the free flow of capital or decreasing other countries' reliance on the dollar.
"Treasury was looking to free up economies, not regulate them," says Jonathan Winer a former high- level crime-policy official in the Clinton State Department.
Says Joseph Stiglitz, former chief economist of the World Bank, "You ask why, if you believe there's an important role for a regulated banking system, do you allow a non-regulated banking system to continue?
The answer is, it's in the interests of some of the moneyed interests to allow this to occur. It's not an accident; it could have been shut down at any time."
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Is this what terrorism, destruction and war is all about? - secrecy to do "dirty work" black ops, corporate profit for a certain group, and 'keeping the dollar strong'?
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October 9, 2001 – Although uniformly ignored by the mainstream U.S. media, there is abundant and clear evidence that a number of transactions in financial markets indicated specific (criminal) foreknowledge of the September 11 attacks on the World Trade Center and the Pentagon.
In the case of at least one of these trades -- which has left a $2.5 million prize unclaimed -- the firm used to place the “put options” on United Airlines stock was, until 1998, managed by the man who is now in the number three Executive Director position at the Central Intelligence Agency.
Until 1997 A.B. “Buzzy” Krongard had been Chairman of the investment bank A.B. Brown. A.B. Brown was acquired by Banker’s Trust in 1997. Krongard then became, as part of the merger, Vice Chairman of Banker’s Trust-AB Brown, one of 20 major U.S. banks named by Senator Carl Levin this year as being connected to money laundering. Krongard’s last position at Banker’s Trust (BT) was to oversee “private client relations.” In this capacity he had direct hands-on relations with some of the wealthiest people in the world in a kind of specialized banking operation that has been identified by the U.S. Senate and other investigators as being closely connected to the laundering of drug money.
Krongard (re?) joined the CIA in 1998 as counsel to CIA Director George Tenet. He was promoted to CIA Executive Director by President Bush in March of this year. BT was acquired by Deutsche Bank in 1999. The combined firm is the single largest bank in Europe. And, as we shall see, Deutsche Bank played several key roles in events connected to the September 11 attacks.
THE SCOPE OF KNOWN INSIDER TRADING
Before looking further into these relationships it is necessary to look at the insider trading information that is being ignored by Reuters, The New York Times and other mass media. It is well documented that the CIA has long monitored such trades – in real time – as potential warnings of terrorist attacks and other economic moves contrary to U.S. interests. Previous stories in FTW have specifically highlighted the use of Promis software to monitor such trades.
It is necessary to understand only two key financial terms to understand the significance of these trades, “selling short” and “put options”.
“Selling Short” is the borrowing of stock, selling it at current market prices, but not being required to actually produce the stock for some time. If the stock falls precipitously after the short contract is entered, the seller can then fulfill the contract by buying the stock after the price has fallen and complete the contract at the pre-crash price. These contracts often have a window of as long as four months.
“Put Options,” are contracts giving the buyer the option to sell stocks at a later date. Purchased at nominal prices of, for example, $1.00 per share, they are sold in blocks of 100 shares. If exercised, they give the holder the option of selling selected stocks at a future date at a price set when the contract is issued. Thus, for an investment of $10,000 it might be possible to tie up 10,000 shares of United or American Airlines at $100 per share, and the seller of the option is then obligated to buy them if the option is executed. If the stock has fallen to $50 when the contract matures, the holder of the option can purchase the shares for $50 and immediately sell them for $100 – regardless of where the market then stands. A call option is the reverse of a put option, which is, in effect, a derivatives bet that the stock price will go up.
A September 21 story by the Israeli Herzliyya International Policy Institute for Counterterrorism, entitled “Black Tuesday: The World’s Largest Insider Trading Scam?” documented the following trades connected to the September 11 attacks:
- Between September 6 and 7, the Chicago Board Options Exchange saw purchases of 4,744 put options on United Airlines, but only 396 call options… Assuming that 4,000 of the options were bought by people with advance knowledge of the imminent attacks, these “insiders” would have profited by almost $5 million.
- On September 10, 4,516 put options on American Airlines were bought on the Chicago exchange, compared to only 748 calls. Again, there was no news at that point to justify this imbalance;… Again, assuming that 4,000 of these options trades represent “insiders,” they would represent a gain of about $4 million.
- [The levels of put options purchased above were more than six times higher than normal.]
- No similar trading in other airlines occurred on the Chicago exchange in the days immediately preceding Black Tuesday.
- Morgan Stanley Dean Witter & Co., which occupied 22 floors of the World Trade Center, saw 2,157 of its October $45 put options bought in the three trading days before Black Tuesday; this compares to an average of 27 contracts per day before September 6. Morgan Stanley’s share price fell from $48.90 to $42.50 in the aftermath of the attacks. Assuming that 2,000 of these options contracts were bought based upon knowledge of the approaching attacks, their purchasers could have profited by at least $1.2 million.
- Merrill Lynch & Co., which occupied 22 floors of the World Trade Center, saw 12,215 October $45 put options bought in the four trading days before the attacks; the previous average volume in those shares had been 252 contracts per day [a 1200% increase!]. When trading resumed, Merrill’s shares fell from $46.88 to $41.50; assuming that 11,000 option contracts were bought by “insiders,” their profit would have been about $5.5 million.
- European regulators are examining trades in Germany’s Munich Re, Switzerland’s Swiss Re, and AXA of France, all major reinsurers with exposure to the Black Tuesday disaster. [FTW Note: AXA also owns more than 25% of American Airlines stock making the attacks a “double whammy” for them.]
On September 29, 2001 – in a vital story that has gone unnoticed by the major media – the San Francisco Chronicle reported, “Investors have 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, according to a source familiar with the trades and market data.
“The uncollected money raises suspicions that the investors – whose identities and nationalities have not been made public – had advance knowledge of the strikes.” They don’t dare show up now. The suspension of trading for four days after the attacks made it impossible to cash-out quickly and claim the prize before investigators started looking.
“… October series options for UAL Corp. were purchased in highly unusual volumes three trading days before the terrorist attacks for a total outlay of $2,070; investors bought the option contracts, each representing 100 shares, for 90 cents each. [This represents 230,000 shares]. Those options are now selling at more than $12 each. There are still 2,313 so-called “put” options outstanding [valued at $2.77 million and representing 231,300 shares] according to the Options Clearinghouse Corp.”
“…The source familiar with the United trades identified Deutsche Bank Alex. Brown, the American investment banking arm of German giant Deutsche Bank, as the investment bank used to purchase at least some of these options…” This was the operation managed by Krongard until as recently as 1998.
As reported in other news stories, Deutsche Bank was also the hub of insider trading activity connected to Munich Re. just before the attacks.
CIA, THE BANKS AND THE BROKERS
Understanding the interrelationships between CIA and the banking and brokerage world is critical to grasping the already frightening implications of the above revelations. Let’s look at the history of CIA, Wall Street and the big banks by looking at some of the key players in CIA’s history.
Clark Clifford – The National Security Act of 1947 was written by Clark Clifford, a Democratic Party powerhouse, former Secretary of Defense, and one-time advisor to President Harry Truman. In the 1980s, as Chairman of First American Bancshares, Clifford was instrumental in getting the corrupt CIA drug bank BCCI a license to operate on American shores. His profession: Wall Street lawyer and banker.
John Foster and Allen Dulles – These two brothers “designed” the CIA for Clifford. Both were active in intelligence operations during WW II. Allen Dulles was the U.S. Ambassador to Switzerland where he met frequently with Nazi leaders and looked after U.S. investments in Germany. John Foster went on to become Secretary of State under Dwight Eisenhower and Allen went on to serve as CIA Director under Eisenhower and was later fired by JFK. Their professions: partners in the most powerful - to this day - Wall Street law firm of Sullivan, Cromwell.
Bill Casey – Ronald Reagan’s CIA Director and OSS veteran who served as chief wrangler during the Iran-Contra years was, under President Richard Nixon, Chairman of the Securities and Exchange Commission. His profession: Wall Street lawyer and stockbroker.
David Doherty - The current Vice President of the New York Stock Exchange for enforcement is the retired General Counsel of the Central Intelligence Agency.
George Herbert Walker Bush – President from 1989 to January 1993, also served as CIA Director for 13 months from 1976-7. He is now a paid consultant to the Carlyle Group, the 11th largest defense contractor in the nation, which also shares joint investments with the bin Laden family.
A.B. “Buzzy” Krongard – The current Executive Director of the Central Intelligence Agency is the former Chairman of the investment bank A.B. Brown and former Vice Chairman of Banker’s Trust.
John Deutch - This retired CIA Director from the Clinton Administration currently sits on the board at Citigroup, the nation’s second largest bank, which has been repeatedly and overtly involved in the documented laundering of drug money. This includes Citigroup’s 2001 purchase of a Mexican bank known to launder drug money, Banamex.
Nora Slatkin – This retired CIA Executive Director also sits on Citibank’s board.
Maurice “Hank” Greenburg – The CEO of AIG insurance, manager of the third largest capital investment pool in the world, was floated as a possible CIA Director in 1995. FTW exposed Greenberg’s and AIG’s long connection to CIA drug trafficking and covert operations in a two-part series that was interrupted just prior to the attacks of September 11. AIG’s stock has bounced back remarkably well since the attacks.
One wonders how much damning evidence is necessary to respond to what is now irrefutable proof that CIA knew about the attacks and did not stop them. Whatever our government is doing, whatever the CIA is doing, it is clearly NOT in the interests of the American people, especially those who died on September 11.
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$43 million in "anti-drug aide," straight from the Bush Administration to the Taliban, four months before 9/11, allegedly to help them stomp out opium production among piss-poor farmers. Isn't that sweet, in a bitterly ironic sort of way? Do you think that's where the money really went? Do you think there's more to that story than you will ever know? Do you think they care what you think?
Osama bin Laden's Bush family Business Connections
The Taliban's Biggest Economic Attack on the U.S. Came in February With
The Destruction of Its Opium Crop
by Michael C. Ruppert
From the September 18,2001 issue of From The Wilderness
Money connections between Bush Republicans and Osama bin Laden go way back and the political and economic connections have remained unbroken for 20 years. And what appears to be a "new" alliance with Pakistan is merely a new manifestation of a decades-long partnership in the heroin trade.
Conveniently ignored in all of the press coverage since the tragic events of Sept. 11 is the fact that on May 17 Secretary of State Colin Powell announced a gift of $43 million to the Taliban as a purported reward for its eradication of Afghanistan's opium crop this February. That, in effect, made the U.S. the Taliban's largest financial benefactor according to syndicated columnist Robert Scheer writing in The Los Angeles times on May 22. But -- as we described in FTW's March 2001 issue -- the Taliban's destruction of that crop was apparently the single most important act of economic warfare against U.S. economic interests that the Taliban had ever committed. So why the gift?
Critics of the Gulf War well recall how, just prior to Sadam's invasion of Kuwait, President Bush (Sr.) dispatched Ambassador April Glaspie to visit Sadam with a letter and a "wink and a nod" telling the Iraqi leader that it was OK to invade his smaller neighbor. The May gift from Uncle Sam could well have been sending the same kind of message, along with necessary funds to complete the attacks. Drugs and terrorism go hand in hand.
Until February, Afghanistan had been the world's largest producer of opium/heroin, claiming close to 70% of the world's total production. That opium, consumed largely in Western Europe and smuggled through the Balkans, was a direct source of cash deposits in Western financial institutions and markets.
I specifically commented on this at an economic crisis conference in Moscow, Russia on March 7. In my formal statement to the Russian conference I said,
"Just before coming to this conference I read in the Associated Press, Agence France Press and other reliable sources that the Taliban has recently eradicated most of its 3000 ton opium crop in Afghanistan. If true, I view this as a form of economic warfare against Russia [and the U.S.] because it would drive opium production more into Southeast Asia and Colombia. However, I now suspect that this will result in a shift of opium production to the Caucasus under the Kurds which will see an increase in smuggling through Armenia, Georgia, and Azerbaijan. I should note that both Vice President Richard Cheney and the designated Deputy Secretary of State Richard Armitage are members of the US-Azerbaijan Chamber of Commerce. Such a move would have the effect of drastically shortening smuggling routes and costs into Western Europe and of bypassing unstable areas of the Balkans.
I have received additional reports that Uzbekistan is now awash in the opium poppy and, as in the US with the CIA, that Russian military and intelligence agencies facilitate the trade as a means of protecting access to hard currency. The point here is not that the US it totally evil or the only country doing these things. But the US is far and away the most advanced nation when it comes to the use of such methods to achieve superiority. As [Russian economist Michael] Khazin has noted, the US and Britain and Germany started the conflict in Kosovo in 1999 to stave off a collapse of western markets following the Asian collapse of 1997-8. Now Colombia is a last-ditch effort to protect the US markets and European opposition is jeopardizing that plan."
The Taliban's actions this year severed the ruling military junta in Pakistan from its primary source of foreign revenues and made bin Laden and the Taliban completely expendable in the eyes of the Pakistani government. It also cut off billions of dollars in revenues that had been previously laundered through western banks and Russian financial institutions connected to them.
Now as US military action will replace the Taliban government and fresh crops will be planted in Afghanistan, the slack in cash flow will assuredly be replaced by dramatically increased opium production in Colombia; the revenues from that effort being needed to maintain the revenue streams into Wall Street. Prior to the WTC attacks, credible sources, including the U.S. government, the IMF, Le Monde and the U.S. Senate placed the amount of drug cash flowing into Wall Street and U.S. banks at around $250-$300 billion a year.
In that context, the real history of Osama bin Laden, as America's useful terrorist du-jour reveals a long and continuous history, interwoven with the drug trade and the Bush family, of supporting conflicts that have benefited U.S. military and economic interests.
Bin Laden
There are direct historical links between Osama bin Laden's business interests and those of the Bush family. On September 15 I received the following message from FTW subscriber, Professor John Metzger of Michigan State University:
"We should revisit the history of BCCI, a bank used by the legendary Palestinian terrorist known as Abu Nidal. BCCI was closely tied to American and Pakistan intelligence. Its clients included the Afghan rebels, and the father of Osama bin Laden. The father of bin Laden named Houston investment broker James R. Bath as his business representative in Texas, right after George W. Bush’s father became CIA director in 1976. By 1977, Bath invested $50,000 into junior’s first business, Arbusto Energy, while Osama bin Laden would soon become a CIA asset. George W. Bush’s FBI director Robert Mueller was part of the Justice Department’s questionable investigation of BCCI. (On BCCI, the bin Ladens, and the Bushes, see the books, The Outlaw Bank, A Full Service Bank, and Fortunate Son)." Further details of the business and financial relationships between the Bush and bin Laden family are found in Peter Brewton's 1992 book The Mafia, CIA and George Bush. BCCI, incidentally, was founded by a Pakistani.
Economics Professor Michel Chossudovsky of the University of Ottawa has just completed a detailed history of bin Laden's career detailing his secret funding and logistical support to terrorist organizations beginning from his early CIA-supported roots in the 1980s as a "freedom fighter" through to the present day. Chossudovsky's compelling and well documented article, Who Is Osama Bin Laden? dated Sept 12, 2001 can be found on the Internet at: http://globalresearch.ca/articles/CHO109C.html.
Bin Laden's role has not just been as a practitioner of terrorist acts but as a trainer and supplier of terrorist organizations around the world. Included in bin Laden's coterie are terrorist groups linked to the Balkans, Albania, the KLA (a U.S. ally), and rebel groups leading the insurrection against Russia in Chechnya.
As FTW described in 1998, and as confirmed by Chossudovsky, the key to understanding U.S. support of bin Laden is to grasp that he has always been controlled by a cutout, the Pakistani government and its intelligence service the ISI. In this manner there has been virtually no direct contact between bin Laden and the CIA. This has served the dual purpose of maintaining his apparent "purity" with his followers and providing plausible deniability for the CIA. The whole underlying pretext for this relationship evaporated with the Taliban's destruction of the opium crop in February.
Chossudovsky writes:
"The history of the drug trade in Central Asia is intimately related to the CIA's covert operations. Prior to the Soviet-Afghan war, opium production in Afghanistan and Pakistan was directed to small regional markets. There was no local production of heroin. In this regard [Professor] Alfred McCoy's study confirms that within two years of the onslaught of the CIA operation in Afghanistan, 'the Pakistan-Afghanistan borderlands became the world's top heroin producer, supplying 60 per sent of the U.S. demand…
"With the disintegration of the Soviet Union, a new surge in opium production has unfolded. (According to UN estimates, the production of opium in Afghanistan in 1998-99 -- coinciding with the build up of armed insurgencies in the former Soviet republics -- reached a record high of 4600 metric tons. Powerful business syndicates in the former Soviet Union allied with organized crime are competing for the strategic control over the heroin routes.
"The ISI's extensive intelligence military-network was not dismantled in the wake of the Cold War. The CIA continued to support the Islamic "jihad" out of Pakistan…"
"… The Golden Crescent drug trade was also being used to finance and equip the Bosnian Muslim Army (starting in the early 1990s) and the Kosovo Liberation Army (KLA). In the last few months there is evidence that Mujhideen mercenaries are fighting in the ranks of the KLA-NLA terrorists in their assaults into Macedonia…
"… With regard to Chechnya, the main rebel leaders Shamil Basayev and Al Khattab were trained and indoctrinated in CIA sponsored camps in Afghanistan and Pakistan… In this regard, the involvement of Pakistan's ISI and its radical Islamic proxies are actually calling the shots in this war.
"Russia's main pipeline route transits through Chechnya and Dagestan. Despite Washington's perfunctory condemnation of Islamic terrorism, the indirect beneficiaries of the Chechen war are the Anglo-American oil conglomerates which are vying for control over oil resources and pipeline corridors out of the Caspian Sea basin."
The oil and drug connections were the subject of FTW's story, The Bush-Cheney drug Empire in October, 2000. That story is online at http://www.copvcia.com/stories/previous/bush-cheney-drugs.html. Both Bush and Cheney are oil men.
George Bush, Sr. was Vice President and, by virtue of executive Order 12333, in charge of all U.S. intelligence and narcotics operations from 1981 through 1989. As President from 1989 through 1993, he continued and expanded his control in these areas. Thus, it was Bush (the elder) who directly nourished and nurtured bin Laden's evolution.
Dramatic Confirmation From Indian Government
The web site of the Indian Embassy in Washington contains dramatic confirmation for these positions. On September 4, 2000, B. Raman, Director of India's Institute for Topical Studies wrote an open letter to the U.S. Congress entitled Pakistan's Noriega's. That eight-page article exposed the depth of Pakistani government involvement in the drug trade. It may be viewed at: (link broken)
http://www.indianembassy.org/int_media/saag_september_04_2000.html
The letter said, in part:
"For more than a decade, the people of India have been living in a state of half-war and half-peace due to the depredations of a large number of terrorists, outrageously called jehadists, who have been trained, armed and funded and infiltrated into the State of Jammu & Kashmir and other parts of India by Pakistan in order to make the people of India and its security forces bleed in the name of religion "More people belonging to different religions -- Hindus, Muslims, Christians, Sikhs, Buddhists and others -- have been killed in India by these mercenary-terrorists sponsored by the State of Pakistan than by any other terrorist groups anywhere else in the world…"
"Many other States have suffered and have been suffering due to the depredations of terrorists, made in and exported from Pakistan and the Taliban-controlled Afghanistan -- [these include] Algeria, Egypt, Saudi Arabia, the Central Asian Republics, the Chechnya and Dagestan areas of Russia, the Xinjiang province of China, Bangladesh, the Arakan area of Burma and the southern Philippines..."
"After his [1993] removal, [as official head of Pakistani intelligence, trusted advisor to Pakistani leader Gen. Pervez Musharraf] Lt. Gen. Nasir traveled to Somalia, Chechnya, Dagestan, the Central Asian Republics, …China, and the Southern Philippines as a preacher… and helped Islamic organizations, including the group which killed U.S. troops… in Somalia."
"…It was he, who, during his tenure as the DG [Director General] of the ISI… has entered into an agreement with the LTTE of Sri Lanka [which secured] LTTE's assistance in smuggling Afghanistan produced heroin in its ships to West Europe, the USA and Canada…"
"…Another reason for the ISI's helping the LTTE, despite its anti-Muslim policies, was to use it for smuggling heroin to West Europe, the U.S. and Canada. During Zia-ul-Haq's regime in the 1980s, heroin had become a major source of extra revenue not only for the State of Pakistan, especially the ISI and Pakistan's nuclear and missile establishment, but also to many senior officers of the Pakistan Army, including [Musharraf et al]…"
"The way Mr. Sharif before October 1999 and Gen. Musharraf since then have been using the heroin money to prevent the Pakistani economy from collapsing has not received due attention in the U.S. ..."
"If one goes purely by economic indicators, Pakistan's must be in as bad a shapeas that of Russia, or even worse, since Russia has been in receipt of Western and IMF assistance…"
Where does the money come from? From the smuggling of heroin to West Europe, the U.S. and Canada. The U.S. Government might have stopped economic assistance
from the taxpayers' money. But why should the Noriegas of Pakistan be worried when they get billions of dollars from the heroin sale in the U.S.?… "
Vice President Dick Cheney's recent comment that the CIA needs to get in bed with "unsavory characters" is a joke. That's a bed that the CIA has never left.
And it's a marriage vow that President Bush has just reaffirmed for all the world to see.
Michael C. Ruppert
mruppert@copvcia.com
© COPYRIGHT 1998, 1999, 2000, 2001
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Bush family’s dirty little secret:
President’s oil companies funded by Bin Laden family and wealthy Saudis who financed Osama bin Laden
By Rick Wiles
Copyright: American Freedom News
September 2001
President Bush recently signed an executive order to freeze the US financial assets of corporations doing business with Osama bin Laden. He described the order as a "strike on the financial foundation of the global terror network.”
"If you do business with terrorists, if you support or succor them, you will not do business with the United States," said President Bush.
He didn’t say anything about doing business with a terrorist’s brother – or his wealthy financier.
When President George W. Bush froze assets connected to Osama bin Laden, he didn’t tell the American people that the terrorist mastermind’s late brother was an investor in the president’s former oil business in Texas. He also hasn’t leveled with the American public about his financial connections to a host of shady Saudi characters involved in drug cartels, gun smuggling, and terrorist networks.
Doing business with the enemy is nothing new to the Bush family. Much of the Bush family wealth came from supplying needed raw materials and credit to Adolf Hitler’s Third Reich. Several business operations managed by Prescott Bush – the president’s grandfather - were seized by the US government during World War II under the Trading with the Enemy Act.
On October 20, 1942, the federal government seized the Union Banking Corporation in New York City as a front operation for the Nazis. Prescott Bush was a director. Bush, E. Roland Harriman, two Bush associates, and three Nazi executives owned the bank’s shares. Eight days later, the Roosevelt administration seized two other corporations managed by Prescott Bush. The Holland-American Trading Corporation and the Seamless Steel Equipment Corporation, both managed by the Bush-Harriman bank, were accused by the US federal government of being front organizations for Hitler’s Third Reich. Again, on November 8, 1942, the federal government seized Nazi-controlled assets of Silesian-American Corporation, another Bush-Harriman company doing business with Hitler.
Doing business with the bin Laden empire, therefore, is only the latest extension of the Bush family’s financial ties to unsavory individuals and organizations. Now that thousands of American citizens have died in terrorist attacks and the nation is going to war, the American people should know about George W. Bush’s relationship with the family of Osama bin Laden.
Salem bin Laden, Osama’s older brother, was an investor in Arbusto Energy. – the Texas oil company started by George W. Bush. Arbusto means “Bush” in Spanish. Salem bin Laden died in an airplane crash in Texas in 1988.
Sheik Mohammed bin Laden, the family patriarch and founder of its construction empire, also died in a plane crash. Upon his death in 1968, he left behind 57 sons and daughters – the offspring he sired with 12 wives in Saudi Arabia, Syria, Lebanon, and Jordan. About a dozen brothers manage Bin Laden Brothers Construction – one of the largest construction firms in the Middle East.
Fresh out of Harvard Business School, young George W. Bush returned to Midland, TX, in the late 1970s to follow his father’s footsteps in the oil business. Beginning in 1978, he set up a series of limited partnerships – Arbusto ’78, Arbusto ’79, and so on – to drill for oil.
One of President Bush’s earliest financial backers was James Bath, a Houston aircraft broker. Bath served with President Bush in the Texas Air National Guard. Bath has a mysterious connection to the Central Intelligence Agency.
According to a 1976 trust agreement, Salem bin Laden appointed James Bath as his business representative in Houston. Revelation about Bath’s relationship with the bin Laden financial empire and the CIA was made public in 1992 by Bill White, a former real estate business partner with Bath. White informed federal investigators in 1992 that Bath told him that he had assisted the CIA in a liaison role since 1976 – the same year former President George Herbert Walker Bush served as director of the CIA.
During a bitter legal fight between White and Bath, the real estate partner disclosed that Bath managed a portfolio worth millions of dollars for Sheik Khalid bin Mahfouz and other wealthy Saudis. Among the investments made by Bath with Mahfouz’s money was the Houston Gulf Airport.
A powerful banker in Saudi Arabia, Mahfouz was one of the largest stockholders in the Bank of Credit and Commerce International. BCCI was a corrupt global banking empire operating in 73 nations and was a major financial and political force in Washington, Paris, Geneva, London, and Hong Kong. Despite the appearance of a normal banking operation, BCCI was actually an international crime syndicate providing “banking services” to the Medellin drug cartel, Pamama dictator Manuel Noriega, Saddam Hussein, terrorist mastermind Abu Nidal, and Khun Sa, the heroin kingpin in Asia’s Golden Triangle.
The BCCI scandal implicated some of the biggest political names in Washington – both Democrats and Republicans – during the first Bush White House. The bank was accused of laundering money for drug cartels, smuggling weapons to terrorists, and using Middle Eastern oil money to influence American politicians.
The chief of the Justice Department’s criminal division under former President Bush was Robert Mueller. Because the major players came out of the scandal with slaps on the wrists, many critics accused Mueller of botching the investigation. Mr. Mueller was recently appointed by President George W. Bush as the new Director of the FBI, replacing Louis Freeh who did nothing while William Jefferson Clinton allowed the Red Chinese to loot our national security secrets.
The Financial Crimes Enforcement Network (FinCEN), a division of the Justice Department, reviewed allegations by Bill White in 1992 that James Bath funneled money from wealthy Middle Eastern businessmen to American companies to influence the policies of the Reagan and Bush administrations. Robert Mueller, the new FBI chief, was in a senior position at the Justice Department at the time of the review.
White told a Texas court in 1992 that Bath and the Justice Department had “blackballed” him professionally and financially because he refused to keep quiet about his knowledge of an Arabic conspiracy to launder Middle Eastern money into the bank accounts of American businesses and politicians.
In sworn depositions, Bath admitted he represented four wealthy Saudi Arabian businessmen as a trustee. He also admitted he used his name on their investments and received, in return, a five- percent stake in their business deals.
Indeed, Texas tax documents revealed that Bath owned five percent of Arbusto ’79 Ltd., and Arbusto ’80 Ltd. Bush Exploration Company controlled the limited partnerships, the general partnership firm owned by young George W. Bush.
Although George W. Bush’s Texas oil ventures were financial failures, his financial backers recovered their investments through a series of mergers and stock swaps. He changed Arbusto’s name to Bush Exploration, then merged the new firm into Spectrum 7 Energy Corporation in 1984.
The Bush-controlled oil business eventually ended up being folded into Harken Energy Corp., a Dallas-based corporation. Mr. Bush joined Harken as a director in 1986 and was given 212,000 shares of Harken stock. Bush used his White House connections to land a lucrative contract for the obscure Harken Energy Corp. with the Middle Eastern government of Bahrain. On June 20, 1990, George W. Bush sold his Harken stock for $848,000 and paid off the loan he took out to buy his small share in the Texas Rangers. The Bahrain deal was brokered by David Edwards, a close pal to Bill Clinton and a former employee of Stephens Inc. Shortly after Bush sold his stock, Harken’s fortunes nose-dived when Saddam Hussein invaded Kuwait. Some critics claim young George was tipped off in advance by his father about the soon-coming Gulf War.
George W. Bush, however, worked wonders for Harken Energy Corp. before the stock collapsed. Using the Bush family name, he managed to bring much-needed capital investment to the struggling firm. George W. Bush traveled to Little Rock, AR, to attend a meeting with Jackson Stephens – a powerful Arkansas tycoon who helped bankroll the state campaigns of young Bill Clinton. He first gained political prominence as a fund-raiser for President Jimmy Carter. Stephens was also deeply involved in the BCCI scandal by helping the corrupt bank take control of First American Bank in Washington, DC.
Jack Stephens didn’t need an introduction to young George W. Bush. Mary Anne Stephens, his wife, managed Vice President George Bush’s 1988 presidential campaign in Arkansas. Stephens Inc., the well connected brokerage firm owned by Jack Stephens, donated $100,000 to a Bush campaign fundraising dinner in 1991. When George W. Bush won the contested Florida election in 2000, Jack Stephens made a substantial contribution to the Bush inauguration. Recently, former President Bush played golf on April 11, 2001, with Jack Stephens at the Jack Stephens Youth Golf Academy in Little Rock. The former president told Stephens, “Jack, we love you and we are very, very grateful for what you have done.”
Perhaps the former president was thanking him for the money Stephens provided young George W. Bush. Stephens arranged for a $25 million investment from the Union des Banques Suisses. The Swiss Bank held the minority interest in the Banque de Commerce et de Placements, a Geneva-based subsidiary of BCCI.
Both Stephens and Abdullah Taha Bakhsh, a wealthy and well-connected Saudi real estate investor, signed the financial transaction. The Geneva transaction was paid through a joint venture between the Union Bank of Switzerland and its Geneva branch of BCCI.
The BCCI connection, therefore, linked George W. Bush with Saudi banker Khaled bin Mahfouz. Known in Arab circles as the “king’s treasurer,” Mahfouz held a 20 percent take in BCCI between 1986 and 1990. Mahfouz is no stranger to the Bush family. He was a big investor in the Carlyle Group, a defense-industry investment group with deep connections to the Republican Party establishment. Former President Bush is a former member of the company’s board of directors. George W. Bush also held shares in Caterair, a Carlyle subsidiary. Sami Baarma, a powerful player in the Mahfouz-owned Prime Commercial Bank of Pakistan, is a member of the Carlyle Group’s international advisory board.
President Bush certainly is aware of that his former Saudi sugar daddy is still financing Osama bin Laden’s terrorist network. USA Today newspaper reported in 1999 that a year after bin Laden’s attacks on US embassies in Africa, Khaled bin Mahfouz and other wealthy Saudis were funneling tens of millions of dollars each year into bin Laden’s bank accounts. Five top Saudi businessmen ordered the National Commercial Bank to transfer personal funds and $3 million pilfered from a Saudi pension fund to the Capitol Trust Bank in New York City. The money was deposited into the Islamic Relief and Blessed Relief - Islamic charities operating in the US and Great Britain as fronts for Osama bin Laden.
The Capitol Trust Bank is run by Mohammad Hussein al-Amoudi. His lawyer is Democratic Party bigwig Vernon Jordan, close friend of former President Bill Clinton...
Abdullah Taha Bakhsh, the Arab who cosigned the $25 million cash infusion into George W. Bush’s Harken Energy Corporation, appointed Talat Othman to manage his 17.6 percent share in Harken Energy Corp. Othman, a native Palestinian, is president and CEO of Dearborn Financial Inc. – an investment firm in Arlington Heights, IL.
Bakhsh also bought a 9.6 percent stake in Worthen Banking Corporation, the Arkansas bank controlled by Jack Stephens. Abdullah Bakhsh’s share was the identical percentage as the amount of shares sold by Mochtar Riady, the godfather of the wealthy Indonesian family with close ties to the Chinese communists, Bill Clinton and evangelist Pat Robertson. Bakhsh is represented by Rogers & Wells, a well-connected Republican law firm in New York whose partners include former Secretary of State William P. Rogers.
Independent investigator reporter David Twersky reported in the early 1990s that Othman had a seat on Harken’s board of directors and met three times in the White House with President George Herbert Walker Bush. Organized by Chief of Staff John Sununu, Othman’s first meeting with President Bush at the White House was in August 1990, just days after Saddam Hussein invaded Kuwait.
There exist to this day an Arab-Texas connection. Khalid bin Mahfouz, financier of both George W. Bush and Osama bin Laden, still maintains a palatial estate in Houston, TX. Former President George Bush also lives in Houston. James Bath, Texas political confidant of George W. Bush, managed to obtain a $1.4 million loan from Mahfouz in 1990. Bath and Mahfouz, along with former Secretary of Treasury John Connally, were also co-investors in Houston’s Main Bank. Bath was also president of Skyway Aircraft Leasing Ltd, a Texas air charter company registered in the Cayman Islands. According to published reports in the early 1990s, the real owner was bin Mahfouz. When Salem bin Laden, Osama’ brother, died in 1988, his interest in the Houston Gulf Airport was transferred to bin Mahfouz.
Since Osama bin Laden’s bloody attack on America on September 11, the federal government has moved quickly to freeze bank accounts connected to Osama bin Laden, Khalid bin Mahfouz, and a host of Islamic charities.
Perhaps federal agents should freeze the financial assets of the Bush family too. It would not be the first time Bush-family assets were seized by the US government for trading with the enemy.
Copyright 2001 American Freedom News
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9/28/2001 Press Office
WALL STREET JOURNAL: BUSH SR. IN BUSINESS WITH BIN LADEN FAMILY CONGLOMERATE THROUGH CARLYLE GROUP
FAMILY HAD RENOUNCED TIES TO TERRORIST SON BUT FAMILY STILL UNDER FBI INVESTIGATION
FATHER OF PRESIDENT SHOULD PULL OUT OF INTERNATIONAL CONSULTING FIRM
(Washington, DC) Judicial Watch, the public interest law firm that investigates and prosecutes government corruption and abuse, reacted with disbelief to The Wall Street Journal report of yesterday that George H.W. Bush, the father of President Bush, works for the bin Laden family business in Saudi Arabia through the Carlyle Group, an international consulting firm. The senior Bush had met with the bin Laden family at least twice. (Other top Republicans are also associated with the Carlyle group, such as former Secretary of State James A. Baker.) The terrorist leader Osama bin Laden had supposedly been “disowned” by his family, which runs a multi-billion dollar business in Saudi Arabia and is a major investor in the senior Bush’s firm. Other reports have questioned, though, whether members of his Saudi family have truly cut off Osama bin Laden. Indeed, the Journal also reported yesterday that the FBI has subpoenaed the bin Laden family business’s bank records.
Judicial Watch earlier this year had strongly criticized President Bush’s father’s association with the Carlyle Group, pointing out in a March 5 statement that it was a “conflict of interest (which) could cause problems for America’s foreign policy in Middle East and Asia.” Judicial Watch called for the senior Bush to resign from the firm then.
“This conflict of interest has now turned into a scandal. The idea of the President’s father, an ex-president himself, doing business with a company under investigation by the FBI in the terror attacks of September 11 is horrible. President Bush should not ask, but demand, that his father pull out of the Carlyle Group,” stated Judicial Watch Chairman and General Counsel Larry Klayman.
“This has the potential of making ‘Billygate’ (Jimmy Carter’s brother’s dealings with Libya) look like small potatoes,” added Judicial Watch President Tom Fitton.
See "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, The Wall Street Journal, 9/28/01
© 2001, Judicial Watch, Inc.
“The uncollected money raises suspicions that the investors – whose identities and nationalities have not been made public – had advance knowledge of the strikes.” They don’t dare show up now. The suspension of trading for four days after the attacks made it impossible to cash-out quickly and claim the prize before investigators started looking.
“… October series options for UAL Corp. were purchased in highly unusual volumes three trading days before the terrorist attacks for a total outlay of $2,070; investors bought the option contracts, each representing 100 shares, for 90 cents each. [This represents 230,000 shares]. Those options are now selling at more than $12 each. There are still 2,313 so-called “put” options outstanding [valued at $2.77 million and representing 231,300 shares] according to the Options Clearinghouse Corp.”
“…The source familiar with the United trades identified Deutsche Bank Alex. Brown, the American investment banking arm of German giant Deutsche Bank, as the investment bank used to purchase at least some of these options…” This was the operation managed by Krongard until as recently as 1998.
As reported in other news stories, Deutsche Bank was also the hub of insider trading activity connected to Munich Re. just before the attacks.
CIA, THE BANKS AND THE BROKERS
Understanding the interrelationships between CIA and the banking and brokerage world is critical to grasping the already frightening implications of the above revelations. Let’s look at the history of CIA, Wall Street and the big banks by looking at some of the key players in CIA’s history.
Clark Clifford – The National Security Act of 1947 was written by Clark Clifford, a Democratic Party powerhouse, former Secretary of Defense, and one-time advisor to President Harry Truman. In the 1980s, as Chairman of First American Bancshares, Clifford was instrumental in getting the corrupt CIA drug bank BCCI a license to operate on American shores. His profession: Wall Street lawyer and banker.
John Foster and Allen Dulles – These two brothers “designed” the CIA for Clifford. Both were active in intelligence operations during WW II. Allen Dulles was the U.S. Ambassador to Switzerland where he met frequently with Nazi leaders and looked after U.S. investments in Germany. John Foster went on to become Secretary of State under Dwight Eisenhower and Allen went on to serve as CIA Director under Eisenhower and was later fired by JFK. Their professions: partners in the most powerful - to this day - Wall Street law firm of Sullivan, Cromwell.
Bill Casey – Ronald Reagan’s CIA Director and OSS veteran who served as chief wrangler during the Iran-Contra years was, under President Richard Nixon, Chairman of the Securities and Exchange Commission. His profession: Wall Street lawyer and stockbroker.
David Doherty - The current Vice President of the New York Stock Exchange for enforcement is the retired General Counsel of the Central Intelligence Agency.
George Herbert Walker Bush – President from 1989 to January 1993, also served as CIA Director for 13 months from 1976-7. He is now a paid consultant to the Carlyle Group, the 11th largest defense contractor in the nation, which also shares joint investments with the bin Laden family.
A.B. “Buzzy” Krongard – The current Executive Director of the Central Intelligence Agency is the former Chairman of the investment bank A.B. Brown and former Vice Chairman of Banker’s Trust.
John Deutch - This retired CIA Director from the Clinton Administration currently sits on the board at Citigroup, the nation’s second largest bank, which has been repeatedly and overtly involved in the documented laundering of drug money. This includes Citigroup’s 2001 purchase of a Mexican bank known to launder drug money, Banamex.
Nora Slatkin – This retired CIA Executive Director also sits on Citibank’s board.
Maurice “Hank” Greenburg – The CEO of AIG insurance, manager of the third largest capital investment pool in the world, was floated as a possible CIA Director in 1995. FTW exposed Greenberg’s and AIG’s long connection to CIA drug trafficking and covert operations in a two-part series that was interrupted just prior to the attacks of September 11. AIG’s stock has bounced back remarkably well since the attacks.
One wonders how much damning evidence is necessary to respond to what is now irrefutable proof that CIA knew about the attacks and did not stop them. Whatever our government is doing, whatever the CIA is doing, it is clearly NOT in the interests of the American people, especially those who died on September 11.
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$43 million in "anti-drug aide," straight from the Bush Administration to the Taliban, four months before 9/11, allegedly to help them stomp out opium production among piss-poor farmers. Isn't that sweet, in a bitterly ironic sort of way? Do you think that's where the money really went? Do you think there's more to that story than you will ever know? Do you think they care what you think?
Osama bin Laden's Bush family Business Connections
The Taliban's Biggest Economic Attack on the U.S. Came in February With
The Destruction of Its Opium Crop
by Michael C. Ruppert
From the September 18,2001 issue of From The Wilderness
Money connections between Bush Republicans and Osama bin Laden go way back and the political and economic connections have remained unbroken for 20 years. And what appears to be a "new" alliance with Pakistan is merely a new manifestation of a decades-long partnership in the heroin trade.
Conveniently ignored in all of the press coverage since the tragic events of Sept. 11 is the fact that on May 17 Secretary of State Colin Powell announced a gift of $43 million to the Taliban as a purported reward for its eradication of Afghanistan's opium crop this February. That, in effect, made the U.S. the Taliban's largest financial benefactor according to syndicated columnist Robert Scheer writing in The Los Angeles times on May 22. But -- as we described in FTW's March 2001 issue -- the Taliban's destruction of that crop was apparently the single most important act of economic warfare against U.S. economic interests that the Taliban had ever committed. So why the gift?
Critics of the Gulf War well recall how, just prior to Sadam's invasion of Kuwait, President Bush (Sr.) dispatched Ambassador April Glaspie to visit Sadam with a letter and a "wink and a nod" telling the Iraqi leader that it was OK to invade his smaller neighbor. The May gift from Uncle Sam could well have been sending the same kind of message, along with necessary funds to complete the attacks. Drugs and terrorism go hand in hand.
Until February, Afghanistan had been the world's largest producer of opium/heroin, claiming close to 70% of the world's total production. That opium, consumed largely in Western Europe and smuggled through the Balkans, was a direct source of cash deposits in Western financial institutions and markets.
I specifically commented on this at an economic crisis conference in Moscow, Russia on March 7. In my formal statement to the Russian conference I said,
"Just before coming to this conference I read in the Associated Press, Agence France Press and other reliable sources that the Taliban has recently eradicated most of its 3000 ton opium crop in Afghanistan. If true, I view this as a form of economic warfare against Russia [and the U.S.] because it would drive opium production more into Southeast Asia and Colombia. However, I now suspect that this will result in a shift of opium production to the Caucasus under the Kurds which will see an increase in smuggling through Armenia, Georgia, and Azerbaijan. I should note that both Vice President Richard Cheney and the designated Deputy Secretary of State Richard Armitage are members of the US-Azerbaijan Chamber of Commerce. Such a move would have the effect of drastically shortening smuggling routes and costs into Western Europe and of bypassing unstable areas of the Balkans.
I have received additional reports that Uzbekistan is now awash in the opium poppy and, as in the US with the CIA, that Russian military and intelligence agencies facilitate the trade as a means of protecting access to hard currency. The point here is not that the US it totally evil or the only country doing these things. But the US is far and away the most advanced nation when it comes to the use of such methods to achieve superiority. As [Russian economist Michael] Khazin has noted, the US and Britain and Germany started the conflict in Kosovo in 1999 to stave off a collapse of western markets following the Asian collapse of 1997-8. Now Colombia is a last-ditch effort to protect the US markets and European opposition is jeopardizing that plan."
The Taliban's actions this year severed the ruling military junta in Pakistan from its primary source of foreign revenues and made bin Laden and the Taliban completely expendable in the eyes of the Pakistani government. It also cut off billions of dollars in revenues that had been previously laundered through western banks and Russian financial institutions connected to them.
Now as US military action will replace the Taliban government and fresh crops will be planted in Afghanistan, the slack in cash flow will assuredly be replaced by dramatically increased opium production in Colombia; the revenues from that effort being needed to maintain the revenue streams into Wall Street. Prior to the WTC attacks, credible sources, including the U.S. government, the IMF, Le Monde and the U.S. Senate placed the amount of drug cash flowing into Wall Street and U.S. banks at around $250-$300 billion a year.
In that context, the real history of Osama bin Laden, as America's useful terrorist du-jour reveals a long and continuous history, interwoven with the drug trade and the Bush family, of supporting conflicts that have benefited U.S. military and economic interests.
Bin Laden
There are direct historical links between Osama bin Laden's business interests and those of the Bush family. On September 15 I received the following message from FTW subscriber, Professor John Metzger of Michigan State University:
"We should revisit the history of BCCI, a bank used by the legendary Palestinian terrorist known as Abu Nidal. BCCI was closely tied to American and Pakistan intelligence. Its clients included the Afghan rebels, and the father of Osama bin Laden. The father of bin Laden named Houston investment broker James R. Bath as his business representative in Texas, right after George W. Bush’s father became CIA director in 1976. By 1977, Bath invested $50,000 into junior’s first business, Arbusto Energy, while Osama bin Laden would soon become a CIA asset. George W. Bush’s FBI director Robert Mueller was part of the Justice Department’s questionable investigation of BCCI. (On BCCI, the bin Ladens, and the Bushes, see the books, The Outlaw Bank, A Full Service Bank, and Fortunate Son)." Further details of the business and financial relationships between the Bush and bin Laden family are found in Peter Brewton's 1992 book The Mafia, CIA and George Bush. BCCI, incidentally, was founded by a Pakistani.
Economics Professor Michel Chossudovsky of the University of Ottawa has just completed a detailed history of bin Laden's career detailing his secret funding and logistical support to terrorist organizations beginning from his early CIA-supported roots in the 1980s as a "freedom fighter" through to the present day. Chossudovsky's compelling and well documented article, Who Is Osama Bin Laden? dated Sept 12, 2001 can be found on the Internet at: http://globalresearch.ca/articles/CHO109C.html.
Bin Laden's role has not just been as a practitioner of terrorist acts but as a trainer and supplier of terrorist organizations around the world. Included in bin Laden's coterie are terrorist groups linked to the Balkans, Albania, the KLA (a U.S. ally), and rebel groups leading the insurrection against Russia in Chechnya.
As FTW described in 1998, and as confirmed by Chossudovsky, the key to understanding U.S. support of bin Laden is to grasp that he has always been controlled by a cutout, the Pakistani government and its intelligence service the ISI. In this manner there has been virtually no direct contact between bin Laden and the CIA. This has served the dual purpose of maintaining his apparent "purity" with his followers and providing plausible deniability for the CIA. The whole underlying pretext for this relationship evaporated with the Taliban's destruction of the opium crop in February.
Chossudovsky writes:
"The history of the drug trade in Central Asia is intimately related to the CIA's covert operations. Prior to the Soviet-Afghan war, opium production in Afghanistan and Pakistan was directed to small regional markets. There was no local production of heroin. In this regard [Professor] Alfred McCoy's study confirms that within two years of the onslaught of the CIA operation in Afghanistan, 'the Pakistan-Afghanistan borderlands became the world's top heroin producer, supplying 60 per sent of the U.S. demand…
"With the disintegration of the Soviet Union, a new surge in opium production has unfolded. (According to UN estimates, the production of opium in Afghanistan in 1998-99 -- coinciding with the build up of armed insurgencies in the former Soviet republics -- reached a record high of 4600 metric tons. Powerful business syndicates in the former Soviet Union allied with organized crime are competing for the strategic control over the heroin routes.
"The ISI's extensive intelligence military-network was not dismantled in the wake of the Cold War. The CIA continued to support the Islamic "jihad" out of Pakistan…"
"… The Golden Crescent drug trade was also being used to finance and equip the Bosnian Muslim Army (starting in the early 1990s) and the Kosovo Liberation Army (KLA). In the last few months there is evidence that Mujhideen mercenaries are fighting in the ranks of the KLA-NLA terrorists in their assaults into Macedonia…
"… With regard to Chechnya, the main rebel leaders Shamil Basayev and Al Khattab were trained and indoctrinated in CIA sponsored camps in Afghanistan and Pakistan… In this regard, the involvement of Pakistan's ISI and its radical Islamic proxies are actually calling the shots in this war.
"Russia's main pipeline route transits through Chechnya and Dagestan. Despite Washington's perfunctory condemnation of Islamic terrorism, the indirect beneficiaries of the Chechen war are the Anglo-American oil conglomerates which are vying for control over oil resources and pipeline corridors out of the Caspian Sea basin."
The oil and drug connections were the subject of FTW's story, The Bush-Cheney drug Empire in October, 2000. That story is online at http://www.copvcia.com/stories/previous/bush-cheney-drugs.html. Both Bush and Cheney are oil men.
George Bush, Sr. was Vice President and, by virtue of executive Order 12333, in charge of all U.S. intelligence and narcotics operations from 1981 through 1989. As President from 1989 through 1993, he continued and expanded his control in these areas. Thus, it was Bush (the elder) who directly nourished and nurtured bin Laden's evolution.
Dramatic Confirmation From Indian Government
The web site of the Indian Embassy in Washington contains dramatic confirmation for these positions. On September 4, 2000, B. Raman, Director of India's Institute for Topical Studies wrote an open letter to the U.S. Congress entitled Pakistan's Noriega's. That eight-page article exposed the depth of Pakistani government involvement in the drug trade. It may be viewed at: (link broken)
http://www.indianembassy.org/int_media/saag_september_04_2000.html
The letter said, in part:
"For more than a decade, the people of India have been living in a state of half-war and half-peace due to the depredations of a large number of terrorists, outrageously called jehadists, who have been trained, armed and funded and infiltrated into the State of Jammu & Kashmir and other parts of India by Pakistan in order to make the people of India and its security forces bleed in the name of religion "More people belonging to different religions -- Hindus, Muslims, Christians, Sikhs, Buddhists and others -- have been killed in India by these mercenary-terrorists sponsored by the State of Pakistan than by any other terrorist groups anywhere else in the world…"
"Many other States have suffered and have been suffering due to the depredations of terrorists, made in and exported from Pakistan and the Taliban-controlled Afghanistan -- [these include] Algeria, Egypt, Saudi Arabia, the Central Asian Republics, the Chechnya and Dagestan areas of Russia, the Xinjiang province of China, Bangladesh, the Arakan area of Burma and the southern Philippines..."
"After his [1993] removal, [as official head of Pakistani intelligence, trusted advisor to Pakistani leader Gen. Pervez Musharraf] Lt. Gen. Nasir traveled to Somalia, Chechnya, Dagestan, the Central Asian Republics, …China, and the Southern Philippines as a preacher… and helped Islamic organizations, including the group which killed U.S. troops… in Somalia."
"…It was he, who, during his tenure as the DG [Director General] of the ISI… has entered into an agreement with the LTTE of Sri Lanka [which secured] LTTE's assistance in smuggling Afghanistan produced heroin in its ships to West Europe, the USA and Canada…"
"…Another reason for the ISI's helping the LTTE, despite its anti-Muslim policies, was to use it for smuggling heroin to West Europe, the U.S. and Canada. During Zia-ul-Haq's regime in the 1980s, heroin had become a major source of extra revenue not only for the State of Pakistan, especially the ISI and Pakistan's nuclear and missile establishment, but also to many senior officers of the Pakistan Army, including [Musharraf et al]…"
"The way Mr. Sharif before October 1999 and Gen. Musharraf since then have been using the heroin money to prevent the Pakistani economy from collapsing has not received due attention in the U.S. ..."
"If one goes purely by economic indicators, Pakistan's must be in as bad a shapeas that of Russia, or even worse, since Russia has been in receipt of Western and IMF assistance…"
Where does the money come from? From the smuggling of heroin to West Europe, the U.S. and Canada. The U.S. Government might have stopped economic assistance
from the taxpayers' money. But why should the Noriegas of Pakistan be worried when they get billions of dollars from the heroin sale in the U.S.?… "
Vice President Dick Cheney's recent comment that the CIA needs to get in bed with "unsavory characters" is a joke. That's a bed that the CIA has never left.
And it's a marriage vow that President Bush has just reaffirmed for all the world to see.
Michael C. Ruppert
mruppert@copvcia.com
© COPYRIGHT 1998, 1999, 2000, 2001
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Bush family’s dirty little secret:
President’s oil companies funded by Bin Laden family and wealthy Saudis who financed Osama bin Laden
By Rick Wiles
Copyright: American Freedom News
September 2001
President Bush recently signed an executive order to freeze the US financial assets of corporations doing business with Osama bin Laden. He described the order as a "strike on the financial foundation of the global terror network.”
"If you do business with terrorists, if you support or succor them, you will not do business with the United States," said President Bush.
He didn’t say anything about doing business with a terrorist’s brother – or his wealthy financier.
When President George W. Bush froze assets connected to Osama bin Laden, he didn’t tell the American people that the terrorist mastermind’s late brother was an investor in the president’s former oil business in Texas. He also hasn’t leveled with the American public about his financial connections to a host of shady Saudi characters involved in drug cartels, gun smuggling, and terrorist networks.
Doing business with the enemy is nothing new to the Bush family. Much of the Bush family wealth came from supplying needed raw materials and credit to Adolf Hitler’s Third Reich. Several business operations managed by Prescott Bush – the president’s grandfather - were seized by the US government during World War II under the Trading with the Enemy Act.
On October 20, 1942, the federal government seized the Union Banking Corporation in New York City as a front operation for the Nazis. Prescott Bush was a director. Bush, E. Roland Harriman, two Bush associates, and three Nazi executives owned the bank’s shares. Eight days later, the Roosevelt administration seized two other corporations managed by Prescott Bush. The Holland-American Trading Corporation and the Seamless Steel Equipment Corporation, both managed by the Bush-Harriman bank, were accused by the US federal government of being front organizations for Hitler’s Third Reich. Again, on November 8, 1942, the federal government seized Nazi-controlled assets of Silesian-American Corporation, another Bush-Harriman company doing business with Hitler.
Doing business with the bin Laden empire, therefore, is only the latest extension of the Bush family’s financial ties to unsavory individuals and organizations. Now that thousands of American citizens have died in terrorist attacks and the nation is going to war, the American people should know about George W. Bush’s relationship with the family of Osama bin Laden.
Salem bin Laden, Osama’s older brother, was an investor in Arbusto Energy. – the Texas oil company started by George W. Bush. Arbusto means “Bush” in Spanish. Salem bin Laden died in an airplane crash in Texas in 1988.
Sheik Mohammed bin Laden, the family patriarch and founder of its construction empire, also died in a plane crash. Upon his death in 1968, he left behind 57 sons and daughters – the offspring he sired with 12 wives in Saudi Arabia, Syria, Lebanon, and Jordan. About a dozen brothers manage Bin Laden Brothers Construction – one of the largest construction firms in the Middle East.
Fresh out of Harvard Business School, young George W. Bush returned to Midland, TX, in the late 1970s to follow his father’s footsteps in the oil business. Beginning in 1978, he set up a series of limited partnerships – Arbusto ’78, Arbusto ’79, and so on – to drill for oil.
One of President Bush’s earliest financial backers was James Bath, a Houston aircraft broker. Bath served with President Bush in the Texas Air National Guard. Bath has a mysterious connection to the Central Intelligence Agency.
According to a 1976 trust agreement, Salem bin Laden appointed James Bath as his business representative in Houston. Revelation about Bath’s relationship with the bin Laden financial empire and the CIA was made public in 1992 by Bill White, a former real estate business partner with Bath. White informed federal investigators in 1992 that Bath told him that he had assisted the CIA in a liaison role since 1976 – the same year former President George Herbert Walker Bush served as director of the CIA.
During a bitter legal fight between White and Bath, the real estate partner disclosed that Bath managed a portfolio worth millions of dollars for Sheik Khalid bin Mahfouz and other wealthy Saudis. Among the investments made by Bath with Mahfouz’s money was the Houston Gulf Airport.
A powerful banker in Saudi Arabia, Mahfouz was one of the largest stockholders in the Bank of Credit and Commerce International. BCCI was a corrupt global banking empire operating in 73 nations and was a major financial and political force in Washington, Paris, Geneva, London, and Hong Kong. Despite the appearance of a normal banking operation, BCCI was actually an international crime syndicate providing “banking services” to the Medellin drug cartel, Pamama dictator Manuel Noriega, Saddam Hussein, terrorist mastermind Abu Nidal, and Khun Sa, the heroin kingpin in Asia’s Golden Triangle.
The BCCI scandal implicated some of the biggest political names in Washington – both Democrats and Republicans – during the first Bush White House. The bank was accused of laundering money for drug cartels, smuggling weapons to terrorists, and using Middle Eastern oil money to influence American politicians.
The chief of the Justice Department’s criminal division under former President Bush was Robert Mueller. Because the major players came out of the scandal with slaps on the wrists, many critics accused Mueller of botching the investigation. Mr. Mueller was recently appointed by President George W. Bush as the new Director of the FBI, replacing Louis Freeh who did nothing while William Jefferson Clinton allowed the Red Chinese to loot our national security secrets.
The Financial Crimes Enforcement Network (FinCEN), a division of the Justice Department, reviewed allegations by Bill White in 1992 that James Bath funneled money from wealthy Middle Eastern businessmen to American companies to influence the policies of the Reagan and Bush administrations. Robert Mueller, the new FBI chief, was in a senior position at the Justice Department at the time of the review.
White told a Texas court in 1992 that Bath and the Justice Department had “blackballed” him professionally and financially because he refused to keep quiet about his knowledge of an Arabic conspiracy to launder Middle Eastern money into the bank accounts of American businesses and politicians.
In sworn depositions, Bath admitted he represented four wealthy Saudi Arabian businessmen as a trustee. He also admitted he used his name on their investments and received, in return, a five- percent stake in their business deals.
Indeed, Texas tax documents revealed that Bath owned five percent of Arbusto ’79 Ltd., and Arbusto ’80 Ltd. Bush Exploration Company controlled the limited partnerships, the general partnership firm owned by young George W. Bush.
Although George W. Bush’s Texas oil ventures were financial failures, his financial backers recovered their investments through a series of mergers and stock swaps. He changed Arbusto’s name to Bush Exploration, then merged the new firm into Spectrum 7 Energy Corporation in 1984.
The Bush-controlled oil business eventually ended up being folded into Harken Energy Corp., a Dallas-based corporation. Mr. Bush joined Harken as a director in 1986 and was given 212,000 shares of Harken stock. Bush used his White House connections to land a lucrative contract for the obscure Harken Energy Corp. with the Middle Eastern government of Bahrain. On June 20, 1990, George W. Bush sold his Harken stock for $848,000 and paid off the loan he took out to buy his small share in the Texas Rangers. The Bahrain deal was brokered by David Edwards, a close pal to Bill Clinton and a former employee of Stephens Inc. Shortly after Bush sold his stock, Harken’s fortunes nose-dived when Saddam Hussein invaded Kuwait. Some critics claim young George was tipped off in advance by his father about the soon-coming Gulf War.
George W. Bush, however, worked wonders for Harken Energy Corp. before the stock collapsed. Using the Bush family name, he managed to bring much-needed capital investment to the struggling firm. George W. Bush traveled to Little Rock, AR, to attend a meeting with Jackson Stephens – a powerful Arkansas tycoon who helped bankroll the state campaigns of young Bill Clinton. He first gained political prominence as a fund-raiser for President Jimmy Carter. Stephens was also deeply involved in the BCCI scandal by helping the corrupt bank take control of First American Bank in Washington, DC.
Jack Stephens didn’t need an introduction to young George W. Bush. Mary Anne Stephens, his wife, managed Vice President George Bush’s 1988 presidential campaign in Arkansas. Stephens Inc., the well connected brokerage firm owned by Jack Stephens, donated $100,000 to a Bush campaign fundraising dinner in 1991. When George W. Bush won the contested Florida election in 2000, Jack Stephens made a substantial contribution to the Bush inauguration. Recently, former President Bush played golf on April 11, 2001, with Jack Stephens at the Jack Stephens Youth Golf Academy in Little Rock. The former president told Stephens, “Jack, we love you and we are very, very grateful for what you have done.”
Perhaps the former president was thanking him for the money Stephens provided young George W. Bush. Stephens arranged for a $25 million investment from the Union des Banques Suisses. The Swiss Bank held the minority interest in the Banque de Commerce et de Placements, a Geneva-based subsidiary of BCCI.
Both Stephens and Abdullah Taha Bakhsh, a wealthy and well-connected Saudi real estate investor, signed the financial transaction. The Geneva transaction was paid through a joint venture between the Union Bank of Switzerland and its Geneva branch of BCCI.
The BCCI connection, therefore, linked George W. Bush with Saudi banker Khaled bin Mahfouz. Known in Arab circles as the “king’s treasurer,” Mahfouz held a 20 percent take in BCCI between 1986 and 1990. Mahfouz is no stranger to the Bush family. He was a big investor in the Carlyle Group, a defense-industry investment group with deep connections to the Republican Party establishment. Former President Bush is a former member of the company’s board of directors. George W. Bush also held shares in Caterair, a Carlyle subsidiary. Sami Baarma, a powerful player in the Mahfouz-owned Prime Commercial Bank of Pakistan, is a member of the Carlyle Group’s international advisory board.
President Bush certainly is aware of that his former Saudi sugar daddy is still financing Osama bin Laden’s terrorist network. USA Today newspaper reported in 1999 that a year after bin Laden’s attacks on US embassies in Africa, Khaled bin Mahfouz and other wealthy Saudis were funneling tens of millions of dollars each year into bin Laden’s bank accounts. Five top Saudi businessmen ordered the National Commercial Bank to transfer personal funds and $3 million pilfered from a Saudi pension fund to the Capitol Trust Bank in New York City. The money was deposited into the Islamic Relief and Blessed Relief - Islamic charities operating in the US and Great Britain as fronts for Osama bin Laden.
The Capitol Trust Bank is run by Mohammad Hussein al-Amoudi. His lawyer is Democratic Party bigwig Vernon Jordan, close friend of former President Bill Clinton...
Abdullah Taha Bakhsh, the Arab who cosigned the $25 million cash infusion into George W. Bush’s Harken Energy Corporation, appointed Talat Othman to manage his 17.6 percent share in Harken Energy Corp. Othman, a native Palestinian, is president and CEO of Dearborn Financial Inc. – an investment firm in Arlington Heights, IL.
Bakhsh also bought a 9.6 percent stake in Worthen Banking Corporation, the Arkansas bank controlled by Jack Stephens. Abdullah Bakhsh’s share was the identical percentage as the amount of shares sold by Mochtar Riady, the godfather of the wealthy Indonesian family with close ties to the Chinese communists, Bill Clinton and evangelist Pat Robertson. Bakhsh is represented by Rogers & Wells, a well-connected Republican law firm in New York whose partners include former Secretary of State William P. Rogers.
Independent investigator reporter David Twersky reported in the early 1990s that Othman had a seat on Harken’s board of directors and met three times in the White House with President George Herbert Walker Bush. Organized by Chief of Staff John Sununu, Othman’s first meeting with President Bush at the White House was in August 1990, just days after Saddam Hussein invaded Kuwait.
There exist to this day an Arab-Texas connection. Khalid bin Mahfouz, financier of both George W. Bush and Osama bin Laden, still maintains a palatial estate in Houston, TX. Former President George Bush also lives in Houston. James Bath, Texas political confidant of George W. Bush, managed to obtain a $1.4 million loan from Mahfouz in 1990. Bath and Mahfouz, along with former Secretary of Treasury John Connally, were also co-investors in Houston’s Main Bank. Bath was also president of Skyway Aircraft Leasing Ltd, a Texas air charter company registered in the Cayman Islands. According to published reports in the early 1990s, the real owner was bin Mahfouz. When Salem bin Laden, Osama’ brother, died in 1988, his interest in the Houston Gulf Airport was transferred to bin Mahfouz.
Since Osama bin Laden’s bloody attack on America on September 11, the federal government has moved quickly to freeze bank accounts connected to Osama bin Laden, Khalid bin Mahfouz, and a host of Islamic charities.
Perhaps federal agents should freeze the financial assets of the Bush family too. It would not be the first time Bush-family assets were seized by the US government for trading with the enemy.
Copyright 2001 American Freedom News
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9/28/2001 Press Office
WALL STREET JOURNAL: BUSH SR. IN BUSINESS WITH BIN LADEN FAMILY CONGLOMERATE THROUGH CARLYLE GROUP
FAMILY HAD RENOUNCED TIES TO TERRORIST SON BUT FAMILY STILL UNDER FBI INVESTIGATION
FATHER OF PRESIDENT SHOULD PULL OUT OF INTERNATIONAL CONSULTING FIRM
(Washington, DC) Judicial Watch, the public interest law firm that investigates and prosecutes government corruption and abuse, reacted with disbelief to The Wall Street Journal report of yesterday that George H.W. Bush, the father of President Bush, works for the bin Laden family business in Saudi Arabia through the Carlyle Group, an international consulting firm. The senior Bush had met with the bin Laden family at least twice. (Other top Republicans are also associated with the Carlyle group, such as former Secretary of State James A. Baker.) The terrorist leader Osama bin Laden had supposedly been “disowned” by his family, which runs a multi-billion dollar business in Saudi Arabia and is a major investor in the senior Bush’s firm. Other reports have questioned, though, whether members of his Saudi family have truly cut off Osama bin Laden. Indeed, the Journal also reported yesterday that the FBI has subpoenaed the bin Laden family business’s bank records.
Judicial Watch earlier this year had strongly criticized President Bush’s father’s association with the Carlyle Group, pointing out in a March 5 statement that it was a “conflict of interest (which) could cause problems for America’s foreign policy in Middle East and Asia.” Judicial Watch called for the senior Bush to resign from the firm then.
“This conflict of interest has now turned into a scandal. The idea of the President’s father, an ex-president himself, doing business with a company under investigation by the FBI in the terror attacks of September 11 is horrible. President Bush should not ask, but demand, that his father pull out of the Carlyle Group,” stated Judicial Watch Chairman and General Counsel Larry Klayman.
“This has the potential of making ‘Billygate’ (Jimmy Carter’s brother’s dealings with Libya) look like small potatoes,” added Judicial Watch President Tom Fitton.
See "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, The Wall Street Journal, 9/28/01
© 2001, Judicial Watch, Inc.
1 comment:
Excellent, hard hitting blog. The country needs you to continue. You are an intelligent breath of fresh air amidst the usual worthless blogs and haven't got a clue bloggers who could care less.
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