September 11 Commission Report - Gnostic Liberation Front

What the record shows is that the $240 Billion in Durham/Brady Bonds – assuming the
multiple reports of their existence to be accurate – did not originally show up in the
American money market, but were most likely used to re-finance private and government
Russian debt and buy into key industries.
It is generally thought that prior to the collapse of the Soviet Union, the Soviet debt never
exceeded $70 billion, and hence the idea that $240 billion in Brady bonds was required
has been a reason for ignoring Durham’s claims. More recent research however by Pierre
Verluise, indicates this debt was actually more in the range of $200 billion.
“… Between 1985 and 1991, Soviet debt tripled from $22.5 billion to $70 billion. Calculating theses
figures is an extremely difficult task (one which Mr. Verluise has accomplished admirably for the
period under study), but the total debt is now estimated at between $80 billion and $ 200 billion.”
[The New Russian Loan, by Pierre Verluise, "The New Russian Loan", review by John Laughland, in
The Wall Street Journal Europe, April 26 - 27, 1996]
Verluise, a French researcher, as well as the Centerfor Security Policy points out that the
refinancing actually began in 1991
“Between 1991 and 1994, according to Mr. Verluise’s sources, successive rescheduling simply led to
direct subsidy of Russia by the West.” [The New Russian Loan, by Pierre Verluise, "The New Russian
Loan", review by John Laughland, in The Wall Street Journal Europe, April 26 - 27, 1996]
This report speculates that the cash generated by refinancing that debt was with-held
from Gorbachev and the Soviet system, thus helping to precipitate its collapse – a
collapse initiated by US covert financial operations set in motion by George HW Bush,
and executed by Lee Wanta. Upon the collapse of the Soviet system, the cash was
released to Yeltsin, who then pushed it into Bank Menatep. Menatep was controlled by
Mikhail Khodorkovsky. Menatep, Khodorkovsky, Berezovsky, Abramovich,
Konanykhine and the Yeltsin family of soon-to-be oligarchs, were being advised by the
Valmet Group, a subsidiary of the Riggs Bank which is widely recongnized as a CIA
operation controlled by the Bush ‘family.’
“… (the ) Valmet Group was part of an extensive network that spread from Russia to the secretive
financial system of Dubai, then on to Africa, London and the United States. Wrapped up in the
network was not only Khodorkovsky's Menatep, but the founders of Rossiisky Kredit and Stephen
Curtis, a former Dubai-based lawyer who via Samuelson became a consultant to Berezovsky and
Khodorkovsky, setting up a legal framework for their offshore transactions. … The company's
reputation was in tatters following a series of scandals in the late 1990s in which it was alleged to have
been part of an extensive money-laundering network involving the Bank of New York and
Menatep…” [Biography Of Mikhail Khodorkovsky from The Moscow Times, Catherine Belton, The
Moscow Times, May 17, 2005]
“…Valmet, a Geneva-based global trust business… agreed in early 1989 to advise Khodorkovsky's
group of young businessmen. Valmet later held the key to the Group Menatep fortune, holding shares
via nominee ownership schemes and organizing the transfer of vast sums of money via its network.”
[Biography Of Mikhail Khodorkovsky from The Moscow Times, Catherine Belton, The Moscow
Times, May 16, 2005]
THE SEPTEMBER 11 COMMISSION REPORT Page 207