Benjamin Franklin, Rolling Over In His Grave by Bill Bergman

The amount of U.S. currency circulating outside banks rose sharply in July/August 2001. The growth ran into the billions of dollars, and was concentrated in $100 bills. These large-scale currency movements matter for anyone who cares about learning the truth about 9/11.

Under money laundering and other laws, assets can be frozen and seized in the banking system. Knowing this, parties concerned that their assets might be frozen or otherwise at risk after 9/11 would have had an incentive to liquidate securities and banking accounts beforehand, and withdraw their money in difficult-to-trace ways. This could have happened in U.S. banking and securities accounts, as well as accounts denominated in U.S. dollars outside the United States. Finding the parties responsible for large-scale withdrawals of currency before 9/11 could help identify people aware of, if not responsible for, those events.

A banking crisis in Argentina can provide a relatively innocent explanation for the mid-2001 surge in currency shipments, at least in part. But we still have no evidence of an honest, thorough investigation into other possible reasons for those shipments, reasons related to the crimes of September 11, 2001. And the mid-2001 currency shipments to Argentina are worthy of 9/11 investigation, as well.

A third explanation has gained greater plausibility following recent 9/11 research. Currency has a long history in covert operations. Accelerated covert or other military action in Central Asia soon before 9/11 could have played a role in those mid-2001 currency shipments.

Read more:

M1 historical data is here:

Whistleblower review

Does anyone know what William Bergman is doing now?

In case anyone doesn't know his story:

In August 2001 the Federal Reserve Board of Governors issued a non-routine supervisory letter warning Fed banks to be vigilant in monitoring suspicious activity reports. At the same time, the United States' economy was experiencing its largest June-August spike in M1 money supply since 1947, with more than $5 billion being added to the currency in circulation over that period. Piecing this information together at the Federal Reserve Bank of Chicago two years later, economist Bill Bergman wondered if the sudden infusion of currency might have been an indicator of foreknowledge of the 9/11 attacks, as those with assets in danger of being frozen in the wake of such an attack would naturally want to liquidate their holdings before an investigation could occur. When Bergman wrote to the Board of Governors to ask for clarification as to why they had issued their supervisory letter, he was told that he had committed "an egregious breach of protocol in calling the Board staff and asking the question."

No Muslims involved here, move along now, nothing to see folks

Was this bizarre and very suspect occurrence investigated by the FBI? (!) Was it ever brought up by the so-called 9/11 Commission?(!)... Obviously not.... probably because none of the parties who may have benefitted from this warning "had any connection with "al Qaeda" or "Muslims"....

One could assume the use of the same twisted logic (circular argument) as per the 9/11 Commission's verdict's on the statistically highly anomalous/irregular spike in put options involving UA and AA in the days prior to 9/11. These short bets netted $millions in profits, and when the 9/11 Commission was asked about who benefitted, their response was "that's irrelevant - the people who made the money were not involved with terrorism".

Really? Really.


"Bill Bergman- Senior Financial Analyst, ‘Follow the Money with Bergman’
Bill Bergman has 10 years experience as a stock market analyst sandwiched around 13 years as an economist and financial markets policy analyst at the Federal Reserve Bank of Chicago. He earned an M.B.A. as well as an M.A. in Public Policy from the University of Chicago in 1990. His favorite course there was titled “The Economics of Regulation,” and the lessons learned in that course and elsewhere help illuminate his cautious if not cynical and concerned perspective when told that government is looking out for us. Mr. Bergman is currently working with Social Movement Sciences LLC, a new enterprise developing evaluation and funding services for not-for-profit organizations. He is married, with three kids, and lives in Chicago. His objective with this column is to provide insight into financial and economic conditions, public policy framing money and financial markets, the history underlying our financial infrastructure, and monetary aspects of investigations and scandals."