Untitled Document
A financial analyst has slammed the so-called "Bin Laden trades"
as part of a fearmongering scam that was used to chill confidence in the markets
and enable insiders to reap huge profits after stocks plunged earlier this week.
As we reported last month, an anonymous investor placed a bet of 245,000 put
options on an index of Europe's top 50 stocks falling by a third to a half before
September 21st. In addition, unusual options were placed betting on a big drop
in the S&P 500.
This led many to speculate that the trader was exploiting foreknowledge
of a new 9/11 or another imminent catastrophe that would send markets tumbling.
However, market analyst Clif Droke of SilverSeek.com has slammed the
trades as being part of a "summer of fear," a scare tactic used by
insiders to profit from consequential dips in stocks as the credit crunch sunk
its teeth in
These high-profile “mystery” trades were just some of the
fear tactics used by several independent and mainstream media outlets
to conjure up images of another 9/11-type terrorist episode. Indeed, Halloween
was early in coming this year for many," writes Droke.
"I predict the promoters of this particular fear campaign will simply
put their hands in their pockets, walk away and whistle a rousing rendition
of “Dixie,” all the while conveniently forgetting they ever
made such dire predictions in the first place. Their mission was accomplished:
they convinced millions of everyday investors and observers to hit the
panic button and run for cover while they, the fear promoters, profited
immensely on the very fear they engendered."
The fact that the massive put options were placed is not in doubt. Dow Jones
Financial News confirmed the trades in their August 16th article, 'Mystery trader
bets market will crash by a third'.
But was this part of a broader strategy to chill confidence in the markets
and make a more widespread profit after stocks dipped following the Northern
Rock bank crisis at the end of last week before the Fed cut interest rates?
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Read from Looking Glass News
$4.5 billion options bet on catastrophe within four weeks...
