September 11 Commission Report - Gnostic Liberation Front

[When the Back Office Moved to the Front Burner: Settlement Fails in the Treasury Market
after 9/11, Michael J. Fleming and Kenneth D. Garbade, FRBNY Economic Policy Review /
November 2002, p 43.]
The critical perspective here is that in making the original paper on $240 Billion in
illegitimate notes disappear in the rubble of the World Trade Center, it would be
implausible to refinance them in a few days without the financial world taking note.
Notes could conceivably be refinanced for 30 days in the repo market
Summary
There is a contention that at the core of the September 11 th attack, someone was planning
to cover the 1991 issuance of $240 billion in illegal securities used to finance the collapse
the Soviet Union. The facts surrounding the financial aftermath of September 11 suggest
this is not only possible, but that reports describing the aftermath have deliberately been
misleading.
• The US dollar money supply was significantly increased in the aftermath of 9/11;
• The bank at the core of the illegal money laundering by ex-Soviet criminals was
the source of the increased money supply (BoNY);
• The generally disseminated rationale for BoNY’s operational problems seems to
have affected no other bank in a similar manner or magnitude and is inconsistent
with reports on the BoNY operations in the aftermath;
THE SEPTEMBER 11 COMMISSION REPORT Page 380