gun forcedTwo big, macabre stories came out of Wall Street recently: the rash of banker deaths by apparent murder and/or suicide, and speculation that bank CEOs themselves are behind the trend to cash in on the insurance.
It turns out that banks take out life insurance policies on their employees, and those policies pay out death benefits to the banks – not the families. In other words, to add to the banks’ other crimes, they appear to also be involved in the “suicides” and deaths of their own, as a way to fatten their bottom line and bonuses.
Should we be surprised by this banker-on-banker death scam?  After all, wasn’t this what 9/11 was all about?
For some, the 9/11 story has faded into history and they consider it not terribly interesting anymore, but I think it’s important to keep in mind the ruthlessness of bankers on Wall Street today who are now apparently killing each other for the insurance money and who, we can now say with some certainty, were trading options to cash in on their own deaths on 9/11.
This is the Wall Street culture that is tearing America apart. This is the Wall Street disease that is undermining America’s ability to control events around the world.





By Max Keiser, Originally Posted at

A new book by James Rickards, ‘The Death of Money’ (read: ‘Death of Bankers’), opens with a timeline starting three days before the 9/11 attacks on the Twin Towers and describes them from a first-person account from inside the CIA, which was monitoring trading on airline stocks (specifically ‘put options’), from traders who were profiting from the 9/11 disaster.

Jim Rickards is both a Washington insider and a Wall Street insider. He’s a hedge fund manager and a lawyer who, amongst other roles, advised the government during the collapse of Long Term Capital Management (LTCM), as well as during the release of the hostages during the Iran Hostage Crisis of 1981. If anyone has the inside track on the Wall Street-Washington corridor of corruption, it’s Mr. Rickards. And in his new book, he provides an eyewitness account of 9/11 insider ‘terror trading’ that was missing from the government’s own report. Rickards is an unimpeachable source, and he has done a great service by blowing the whistle on this scandal, at least partially.

I’ve interviewed Jim Rickards on my show ‘Keiser Report’ many times and spent time with him personally comparing notes from our Wall Street days. One topic that often comes up is ‘Drexel.’ We were both working on Wall Street during the collapse of Drexel Burnham Lambert and the Ivan Boesky scandal – a seminal moment in establishing the modern, post-regulatory environment on Wall Street, where virtually anything goes and laws are either ignored, rewritten, or created on the spot to manage and profit from the avalanche of insider trading, market manipulation, back room dealing, larceny, forgery, extortion, and other crimes that are the hallmarks of American finance today. When talking about finance scandals, all roads lead back to Drexel and it provides common ground to start a conversation amongst Wall Street veterans.


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Reuters / Brendan McDermid
Reuters / Brendan McDermid


Both Rickards and I agree that judging by the price action and volume in the options market ahead of the 9/11 attacks, it was clear we were witnessing insider trading. I was one of the biggest producing option brokers when I worked on Wall Street, keep in mind, so I am very familiar with that market. The put options before the disaster were trading like you would expect them to do after a disaster, not before. It was very obvious that advanced knowledge of the attacks was circulating amongst traders. The options market was in fact screaming insider trading, and brokers and bankers were talking about it in the days leading up to the attacks.

Rickards’ information timeline in his book almost exactly mirrors the stories I was hearing at the time, when talking to brokers who had heard of, and in some cases were trading, based on this rumor of an impending airline disaster.

Rickards quotes Buzzy Krongard in his book, deputy chairman of the CIA, who was also the former head of Alex Brown – a firm that factors significantly in the story. I used to work for Buzzy at Alex Brown and I still keep in touch with my former colleagues, some of whom were ‘buzzing’ about the action in airline puts. Additionally, a company I started in Los Angeles, a dot-com, had been sold to a Wall Street broker just a few months before the attacks and the company had relocated their acquisition to the top floor of the World Trade Center. I was in touch with employees who were also ‘buzzing’ about the put option frenzy in airline stocks, and they cited Alex Brown as the source of the rumors. (They were ironically speculating on their own demise, as we were to find out later).

Coyly, Rickards wants us to believe that the original ‘terror traders’ – the original airline put option buyers – started buying put options somewhere other than Washington DC or Wall Street. Without much by way of explanation, he suggests that there is no way of knowing for sure where these trades originated, who did the trades, or how to track them. This of course is wrong. All trades are cleared via the OCC (Option Clearing Corporation) and are routed in ways that leave a paper trail that is easily examined and reconstructed. Why is Rickards evasive on these points? Take a close look again at his resume; he is not going to point the finger at the CIA even though there is overwhelming evidence to suggest the trades originated there. So be it. We can read between the lines. To highlight just one obvious point missing in his narrative: millions of dollars worth of profits from 9/11 insider trading still sit uncollected in an Alex Brown account (now owned by Deutsche Bank) in Baltimore, just down the road from the CIA’s HQ at Langley.

Rickards claims these trades originated “by unknown traders working overseas somewhere,” and this is clearly a dodge. But let’s focus on the fact that Rickards at least has repudiated the government’s claim that there was no insider trading at all. For this I take my hat off to him.

For some, the 9/11 story has faded into history and they consider it not terribly interesting anymore, but I think it’s important to keep in mind the ruthlessness of bankers on Wall Street today who are now apparently killing each other for the insurance money and who, we can now say with some certainty, were trading options to cash in on their own deaths on 9/11. This is the Wall Street culture that is tearing America apart. This is the Wall Street disease that is undermining America’s ability to control events around the world.

The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of RT.

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  1. Max Keiser?
    If the bankers needed a shill and a distraction to keep the plebs happy they would have invented someone just like him.
    JP Morgan is still prospering.   Now whatever happened to the Max Keiser call for the demise of JP?  Just another distractiion.
    A self publicist AND a shill for Man Made Global Warming.

  2. It’s nice that the sharks are eating their own but, I think our culture has forgotten how destructive financial fraud is to a nation and how it can be more devastating than war on the lives of millions of people. It is time to start executing those who commit fraud on such a grand scale just as we would execute a spy or anyone involved in treason.

  3.  Isaiah 30:13-14
    therefore calamity will come upon you suddenly, as upon a bulging wall that bursts and falls; in one moment it comes crashing down.  God will smash you like a broken dish; he will not act sparingly. Not a piece will be left large enough to use for carrying coals from the hearth, or a little water from the well
    IT is very  significant  that the towers took 8.9 seconds to fall and one of the workers at ground zero was heard saying:

    “These were two 110 story buildings. You don’t find a desk, you don’t find a chair; the biggest piece of a telephone I found was a two inch piece of the key pad.”


  4. Max makes a leap of logic that fails.  It’s unlikely bankers are whacking bankers for insurance profit because it’s far more easy to let a banker live and generate greater profit in excess of an insurance payout on his dead head.  Just because there was insider trading in 9-11 doesn’t change the improbability of the profit motive thesis Max posits.  The profit motive thesis doesn’t stand up to math.  It’s far more probable that bankers are being whacked because they know too much.  But alas, we simply don’t know one way or another.
    Also, the CIA, DIA, ONI, NSA and the entire black/shadow government is not a monolith.  It’s most likely that an axis of rouge intelligence/black-op operatives working within parts of the black/shadow government (but with private sector links too) were involved with 9-11 but these agents do not represent the core of any given agency.  While this axis has direct linkages to the “investment” banking world, to call them pure bankers would be a distortion of what they really are.  Many have their bedrock and background in banking, but still others are in traditional industry, or drug and arms running, or standard “regular” cover positions in the military industrial complex.  It’s not so simple to say bankers placed trades to profit from the impact to airlines, insurance companies and brokers like Cantor Fitzgerald (and most of the put option volume associated with unusual trading was specifically on American Airlines and United, not Wall Street investment banks).  It’s just as easy to speculate that agents within the black/shadow government milieu placed most of the trades, and that they were not bankers.  We simply don’t know.  But Max is entirely correct to note the government is concealing the identity of those that placed these trades.   Rickards is simply citing the government line that the trades came from outside the US.

    I’ve come to the conclusion Rickards is likely a “company” asset.  But don’t worry Jim, no one will believe me.  🙂

    • I have spoken to Max on this issue and I have exchanged emails with Rickards on the topic as well.  In Rickards’ new book, he provides a very plausible explanation of about these trades.   I favor his version.  I lost my FDNY Brother-inLaw that day, my old brother lost his FDNY best man and my younger brother lost many friends and colleagues at Canter-Fitz. (one survived because he happened to be playing golf.)   I thanked Rickards’ for his explanation, far more plausible.  

    • Keiser is a pimp and Rickards has a shady past. I don’t listen to them anymore at all. And if you don’t know what happened on 9/11, you are still in deep outer space and fast asleep. I’m very sorry for your loss Joe. It’s horrible.

    • BTW If you really want to look at a real conspiracy – I want to know why the “Mary Jo White memo” on the WTC 1 bombing about the Reno-Gorelick “Wall” between the FBI and the CIA was erected. It was one of the very few documents made secret by the 9-11 Commission and I have asked Washington law firms to file a FOIA on the document.

      FBI sources told me it was well known within the FBI why the “Wall” was erected – Billy had too many illegal foreign donors. The CIA would find the evidence and kick to the DoJ – they had to stop that.   The same story was told to me by Jerome Zeifman before his death.   Zeifman was the House Legal Council to the House Judiciary Committee that lead the impeached investigation of Nixon. He had Hillary thrown off the investigation on ethics violations for fabricating evidence against Nixon.   He had many papers he shared with me on the Clintons and his contributors.   Zeifman maintained that Bill had him fired from on of the top law firms in Washington the day his tell-all book on the Clintons hit the stands – the book was pulled and Zeifman was fired.  He was a lifelong Dem to the day he died.  He feared the Clintons.   

    • When it came out that Gorelick had erected the Wall which hobbled the US’s intel’s ability to coordinate on terror, the nitwit Kean should have thrown her right off the 9-11 Commission.   
      Gorelick also hand picked her successor at DoD, the same DoD attorney who shut down the data mining that was reported to have id’ed the 9-11 terror cell.
      Gorelick later was council for Fannie Mae while another Clinton appointee, Frank Raines fleeced Fannie.   Both made 10s of millions fleecing Fannie.   
      This video helps capture some of the fraud and the efforts by Repubs to have Fannie regulated – long before its default.
      Note which party is arguing what – and note the Dems personally attacking the regulator who wrote the report that gave rise to the hearing…also note Bill’s comments at the very end.
      You tube frequently loses this video:


  5. On a side note, May 18 ended the DEAD BANKER POOL.  My ‘official count’ was 14 with 1 banker each on the over/under. That averaged on banker per week.
    Hayduke made the best guess at 15.  Hey now, Hayduke, are you an insider or what?
    Hayduke gets to select one of 3 prizes.  A .999 Buffalo, a 2012 ASE or a .999 Day of  Resistance coin.
    With that behind us, what sort of new contest can we originate?   I’m game.

    • Mary, you’re repeating yourself by using the words “criminal” and “government” in the same sentence.  lol

  6. Here is the latest score from the orifice of Eric Holder.  Credit Suisse top officers just pleaded guilty to criminal charges of aiding and abetting tax fraud and money laundering via that bank.  The financial penalty is $2.5 billion.  This is probably .1% of the profits made from this acitivity
    The CEO and President of CS are not going to serve a minute of jail time and also kept their jobs.  Wow
    Now, for my take.  
    Evading taxes is the primary work of the tax slaves in this country. The primary activity of any slave is to ESCAPE, not aid and abet their slavery.   Capische?
    That  a bank helps someone to that end is, IMO, a modern day Underground Railway with Harriet Tubman wearing pinstripes. They can bask in the reflection of a great woman for about 5 seconds
    This might sound a little convoluted but since FIAT printed at interest  is blatant  theft of the wealth of the common man, and done while hiding in plain sight; Income Taxes, the bastard stepchildren of the central bank theft scam,  are nothing but DIGI-FIAT chains and shackles that hold us imprisoned. The sad part is that most are even comfortable in their servitude.

    For this reason I have a tiny bit of admiration for CS in that they helped people escape the clutches of the gulag tax nazis.
    That tiny bit of admiration is outweighed by the fact that they are uber-globalist bankers and by their actions and presence, the fact that they still draw breath, takes away one single miniscule attaboy I might have for CS
    Kill all these bankers.  Let’s see if we have a new DBP starting soon.
    I got silver if bankers want to test the laws of gravity.

  7. Here is the key mistake to understanding 9/11: 9/11 attacks on the Twin Towers
    Actually 3 buildings collapsed.  The third had no airplane impact, and little to no fire issues.  It looked like some furniture or carpeting was on fire.  Then that third building fell by the same demolition style collapse as the Twin Towers.  That 3rd building never gets any press.  While the airplane extraordinary issues of the Twin Towers makes their collapse a little uncertain, the third building certainly proves explosives and thus it becomes easy to accept the Twin Towers were felled by explosives with or without airplane impact.

    • I`m going to say this one more time. There is absolutly NO FUCKING WAY those buildings came down by planted explosives. That type of operation would take monthes to prepare. Hundreds of skilled workers, it would involve closing off sections of the buildings. There would be miles of det cord and wiring all over. Steel beams need to be weakened with torches prior to detonation. The fucking janitor would have seen something, the victims would have seen work being done, yet not a sole reports anything even resembling this type of operation. The so called truthers are even shutting up now. The 3rd building you refer to was damaged by debris. Please let this bullshit theroy die. It makes absolutly no sense. Move on to something like Area 51.

  8. Quite frankly, IMO, Rickards is a shill; the type which sprinkles nuggets of truth in amongst blatant disinfo. You only had to see Max’s interview with Rickards to know that. To parrot the bullshit that those ‘terror trades’ were made by people outside of Wall Street (and for which he provides zero evidence) is complete bunk! Kudos to Max (who I’m not as big on as I was, thanks to Bitcoin, which should have been renamed, Maxcoin) for making Rickards look amateurish. Friends or no friends, Max was almost relentless in his questioning. As an aside, I couldn’t even get through his book ‘Currency Wars.’ It damn well put me to sleep!
    Remember, Rickards was Chief Counsel at Long Term Capital Management, that ‘little’ firm which housed some of the brightest minds in the business but which would eventually go under. Brightest minds indeed! Could not possibly fail. Nobel laureates who were supposedly geniuses. Rickards of course has some good qualities, including his genuine support of gold. However, that is where it begins and ends for me. You cannot make it in the truth movement if you’re only halfway in. You cannot fully earn the respect of listeners if you’re only halfway in. For that reason, I pay little attention to the likes of Rickards, Christian, et al.
    The above is simply my honest opinion.

    • I agree, James.  In fact, I almost choked on my scotch and water when Max said, “Rickards is an unimpeachable source…”.  What a load of crap.  Rickards is a lawyer and the next lawyer who is “unimpeachable” will be the very first, IMO.

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