BANGLADESH VS THE NEW YORK FED: HINTS OF SOMETHING LARGER?March 30, 2016
There's another story of large scale financial malfeasance out there, according to this article shared by Mr. V.T., and that appeared on the Zero Hedge website. Here's the story, and it's almost too difficult to believe:
Now, as one might imagine, this provokes all sorts of high octane speculations. For one thing, we have the ever-dutiful New York Federal Reserve once again at the center of a controversy over banking proprieties. After all, Germany (Germany no less!) has been trying to get its gold back from the N.Y. Fed for a few years now, with something amounting to less than stellar success on that score, leaving many people to question whether or not the NY Fed even has any of Germany's physical gold. As readers here know, it wouldn't be the first time the NY Fed misplaced Germany's gold, for in 1928, then Reichsbank president Hjalmar Schacht - a dubious man if there ever was one - paid a visit to the bank and asked to see the Reichsbank's gold. To the considerable embarassment of the then chief of the NY Fed, Ben Strong, Schacht was informed that the staff could not locate it. Schacht, never one to let a moment for leverage escape his grasp, smiled and simply told Strong, that it was all "ok" and that he new that the bank was "good for it."
Nothing amiss here. Move along. Nothing to see.
Well, I disagree, and there's a profound clue in this article that maybe something huge is amiss, something that might, just might, connect to all those mysterious banker deaths of the past few years. Remember those? When bankers suddenly decide to talk a walk off the rooftops of bankers in London, Paris, and Hong Kong? That "huge something" is hinted at here:
The CCTV cameras at the bank weren’t functioning during the questionable transfers but branch manager Maia Santos Deguito stands accused of ignoring a stop order from the central bank and from her superiors. Meanwhile William Go claims he had nothing to do with it, Bangladesh's finance minister AMA Muhith thinks his country’s central bank was in on the scam, and the NY Fed says it followed proper protocol. This evening, WSJ reported that according to people familiar with Bangladesh central bank's operations, its SWIFT terminal for interbank messaging might have been left logged on on the night of February 4, creating a hole via which more than $100 million was stolen.(Emphasis in the original)
So it was an "open SWIFT" terminal that was left on that caused the whole thing?
Well, call me overly suspicious here, but I highly doubt it, even in a case like Bangladesh. But the hint nonetheless remains, that perhaps the entire international clearing system of the West is vulnerable to cyber-hacking in a way that recalls the infamous PROMIS software scandals that continue to reverberate since its first surfaced during the Reagan administration.
If you don't know the PROMIS scandal, this was a software created by former NSA insider Bill Hamilton and his Inslaw software company. The goal of the software was to create a multi-lingual software program able to read any government database compiled in any (then existing) computer language, and to be able to execute sophisticated searches. According to the story, the software was stolen by the Justice Department of Ed Meese, and then subsequently and secretly modified by the military-intelligence complex with various backdoors, and then sold, or "allowed to be stolen", giving the USA unprecendented access to the databases of foreign nations.
However I cannot help but wonder if this software, via some modification, also became the basis for the CHIPS and SWIFT systems of financial clearing. After all, its capabilities would render it easily adaptible to the purpose of financial clearing, and if one followed the PROMIS story closely, it was conceived in its modifications also as a means of tracking financial flows.
All of this raises the possibilities that those very backdoors functioned in two directions, allowing not only US intelligence access to foreign databases, but vice versa, including a backdoor into the entire international financial clearing system.
And that would allow, over time, any such entity possessing that crucial key to siphon off vast funds and additionally to "cover the tracks" of where it went. Such a scheme would only be detectable by people invarious banks, brokerage houses, insurance companies and so on, with high level access to daily ledgers, to see what was happening.
High octane speculation?
To be sure, but I am not the only one who suspects the PROMIS connection to that hidden system of finance. What's new here may be that the activity has now involved a country's central bank, and it has blown the whistle.
And that means in turn this may be a story to watch carefully.
See you on the flip side...