Some thoughts and links related to my recent journey into conspiracies.

Thanks. The guy who made the video has a website with lots of corroborating evidence/sources. You might contact him if you have more questions.

Also, there have actually been some academic studies done on trading irregularities prior to 9/11. Here is a paper written by some financial economists that was published in the peer-reviewed Multinational Finance Journal.

Their conclusion? They find evidence of abnormal trading prior to 9/11 and immediately after.

And then there is this 2006 paper published in peer-reviewed Journal of Business that also found evidence of unusual option market activity.

People will say, sure but Al Qaeda and its allies could have have been responsible -- not proof of an inside job! This activity was dismissed by the 9/11 commission, by the way, because the institutional investors responsible had no conceivable links to Al Qaeda (...yeah, well, that's kind of the point!!).

Apparently the FEC and the FBI did a 'thorough' investigation. So thorough apparently that it missed the evidence later discovered in these two scholarly publications. But you can trust them to tell the truth and do a thorough investigation.

Here, by the way, is the full quotation from the official 911 report, which is footnote 130 in chapter 5. It's full of assertions that are backed up by more assertions from the FBI and SEC about their "investigation" into the matter:

  1. Highly publicized allegations of insider trading in advance of 9/11 generally rest on reports of unusual pre-9/11 trading activity in companies whose stock plummeted after the attacks. Some unusual trading did in fact occur, but each such trade proved to have an innocuous explanation. For example, the volume of put options- investments that pay off only when a stock drops in price-surged in the parent companies of United Airlines on September 6 and American Airlines on September 10-highly suspicious trading on its face.Yet, further investigation has revealed that the trading had no connection with 9/11.A single U.S.-based institutional investor with no conceivable ties to al Qaeda purchased 95 percent of the UAL puts on September 6 as part of a trading strategy that also included buying 115,000 shares of American on September 10. Similarly, much of the seemingly suspicious trading in American on September 10 was traced to a specific U.S.-based options trading newsletter, faxed to its subscribers on Sunday, September 9, which recommended these trades.These examples typify the evidence examined by the investigation.The SEC and the FBI, aided by other agencies and the securities industry, devoted enormous resources to investigating this issue, including securing the cooperation of many foreign governments.These investigators have found that the apparently suspicious consistently proved innocuous. Joseph Cella interview (Sept. 16, 2003; May 7, 2004; May 10-11, 2004); FBI briefing (Aug. 15, 2003); SEC memo, Division of Enforcement to SEC Chair and Commissioners, "Pre-September 11, 2001 Trading Review," May 15, 2002; Ken Breen interview (Apr. 23, 2004); Ed G. interview (Feb. 3, 2004).
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