March 26, 2007

Federal Reserve:

Hiding 9-11 Evidence?

Last Friday, we noticed a news item that was picked up by the on-line news service, Freedom’s Phoenix Headline News out of Phoenix, Arizona.   

The news story was titled, “Former Fed analyst questions M1 currency component spike prior to 9/11,” and was originally published on March 22 in the Muckraker Report.

The story is about William Bergman a senior analyst at the Federal Reserve Bank of Chicago whose employment with the Bank was abruptly terminated after he sought answers to a question relating to an investigation he had been directed to undertake. 

According to the Muckraker Report, Bergman had noted that the Board of Governors of the Federal Reserve had issued supervisory letters to the 12 Reserve Banks in the weeks after September 11, 2001 urging scrutiny of suspicious activity reports in tracking terrorism activity and financing.  However, Bergman also noticed that the Board of Governors had issued a similar letter, albeit one that did not refer explicitly to terrorism, on August 2, 2001.  According to Bergman, terrorism and terrorist financing were known to be part of ‘suspicious activity’ however, and the August 2, 2001 supervisory letter clearly called for scrutiny of suspicious activity, which implies and includes the tracking of terrorism activity and financing.  In December, Bergman called the staff of the Board of Governors to ask why the Board had issued the August 2, 2001 letter.  

Within two weeks Bergman’s assignment was abruptly terminated and his credentials canceled and he was forced to resign.

The Muckraker Report quotes Bergman saying, 

 “The currency component of M1 (Federal Reserve Notes circulating outside of banks) rose especially rapidly in July and August 2001. In fact, up to and including August 2001, that month (August 2001) was one of the three fastest growing months for the currency component of M1 since 1947, on a seasonally adjusted basis, even on the heels of significantly above-average growth in July 2001.  Much of the July-August surge (over $5 billion above-average) seems to have been in the $100 denomination. Among other explanations, persons aware of any imminent terrorist attacks and concerned about possible asset seizures such as those that arose after the 1979 Iranian hostage crisis and the 1998 embassy bombings could have been trying to liquidate their bank accounts in July and August 2001. The money trail could provide important clues about people aware of, if not responsible for, the attacks.  I looked at some internal data bearing on this issue that was available to anyone within the Federal Reserve’s internal computer network; after going back to look at this important data again a week or two later, it was no longer freely available, but password protected.” 

Click here to read the full story http://www.muckrakerreport.com/id378.html

Reporter and Fed Analyst
To Speak at GML 2007 

Both Ed Haas, the founder and editor of the Muckraker Report and Bill Bergman, the former analyst at the Federal Reserve Bank of Chicago will be speakers at GML 2007 to discuss this important story and to answer questions.  

Bill Bergman has researched financial markets and economics for over twenty years. His positions have been in investment banking, equity analysis, economic research and financial market policy analysis. He earned an M.B.A. as well as a M.A. in Public Policy from the University of Chicago in 1990. He worked with the Federal Reserve Bank of Chicago as an economist and payment system analyst for 13 years. He worked with the American Institute for Economic Research for a year, leading their summer fellowship program. He currently serves as an equity research analyst. 

Ed Haas is the founder and editor of the Muckraker Report.  Founded in 2002, the Muckraker Report has enjoyed a steady increase in readership over the years, with exponential growth occurring in 2006.  Thanks to the aggressive and intuitive style of investigative reporting found in Muckraker Report articles that cover a wide range of important topics, these high impact reports are now frequently linked or published on many notable independent media web sites. Within the last year, Haas has added seven contributing writers to the Muckraker Report.
 

Watch These Speakers Via
the Live Conference PPV!

Watch the 3-day conference LIVE via PPV!
Click to watch the Give Me Liberty 2007 conference starting next Thursday morning, March 29.

We urge everyone to complete their purchase ASAP not only to minimize any potential system delays on their end during the days of the conference, but to help WTP use these funds right now to help meet the enormous costs of hosting this most important event in defense of Liberty.

Click here to register for the GML 2007 LIVE  Pay-Per-View.

It's almost last call for advance on-line Registrations!

Only want to attend 1 or 2 days?
Single-day conference admittance tickets now available!  Click here.
Remember, you can always register at the conference venue for all events....

Reserve a Hotel Room at the conference. 

Click for the latest GML 2007 conference Agenda.

Read our previous article: "Income Tax Panel Added to GML 2007 "

Please remember:

The Landmark Right-To-Petition Lawsuit
and Operations of the WTP Foundation
are Funded Solely By Your Generous Support.