September 11 Commission Report - Gnostic Liberation Front

Khashoggi on at least two occasions had direct phone contact with George Bush Sr. The
two were not strangers.
Step 5: Create a ‘flood’ of small transactions to cover larger gold movements.
In the second suit which accused the bullion banks of illegal price fixing, initiated by
Blanchard in 2003, Blanchard alleged that:
"…Barrick used private derivative contracts and engaged in off-balance sheet accounting to conceal
the addition of billions of dollars worth of gold…..Barrick's actions made it "virtually impossible for
gold analysts and investors to determine the size and the market impact of its trading positions”….J.P.
Morgan financed Barrick's alleged short selling with remarkably advantageous terms not available to
others. None of the lawsuit's allegations have been proven in court." [Barrick Gold, J.P. Morgan Chase
accused of manipulating gold market, CBC News Online, December 18, 2002]
Analysts were essentially saying that billions of dollars of gold had been added to the
market in a series on transactions that were virtually impossible to analyze. In one year
alone, according to the annual report, Barrick placed over 6.8 million options – a
haystack of transactions. It is speculated by this report that most of these transaction were
managed through Enron’s gold trading desk, with the records of those transactions now
protected by UBS, Switzerland.
Step 6: Scale up the gold laundering volume based on market limitations.
In 1988, when Barrick started, it reported sales of 341 thousand ounces (10 tonnes) of
gold. By 2001 its annual sales of gold equaled 6.3 million ounces (194 tonnes). Its short
positions for 2000 and 2001 totaled 14.3 million ounces, which is significantly more than
the annual gold sales of all the central banks in the 1990’s. Global investment demand
for 2000 and 2001 combined was 6.7 million ounces. (J Taylor’s Gold and Technology
Stocks, Donald W Doyle, Vol. 22, No 15, 12/15/2003). Clearly, with a large assist from
Bush, this fledgling gold company became the major gold mover in the world.
All of these suspicions may be unfounded, but the circumstantial evidence certainly
warrants thoughtful consideration and investigation:
There are thousands of tonnes of illegal, stolen gold in bullion banks throughout the
world, which need to be laundered.
Commodity experts that watch the gold market have made claims that significant,
inexplicable amounts of gold are showing up in the market.
There has been no known formal investigation into the possible laundering of this
gold other than the FBI investigation buried in the World Trade Center.
A significant group of powerful individuals, with demonstrated links to the movement
of illegal gold, have been directly involved in the creation of a gold producing
company, which is now in a court battle over the legality of some of its trades.
THE SEPTEMBER 11 COMMISSION REPORT Page 175