The BCCI-CIA Connection: Just How Far Did It Go?

[Octafish]

The tentacles from 1981, when Poppy was "Vice President," touch us today.

The BCCI-CIA Connection: Just How Far Did It Go?

NEWSWEEK
From the magazine issue dated Dec 7, 1992

BCCI was involved in some of the most sensitive intelligence operations of the Reagan-Bush years, including the secret sales of arms to Iran. When questions were raised about the CIA's ties to BCCI after the shutdown of the bank, however, spokesmen for the agency insisted that its hands were clean. "Any allegations of unlawful use of BCCI by the agency are without foundation," the CIA said in a statement.

Congressional investigators and others familiar with BCCI have their own theories about the CIA's conduct. There are strong suspicions that the agency wanted to protect an important intelligence asset. As Norman Bailey, a former National Security Council official, said, the CIA was not interested in "blowing the BCCI cover." There is another alarming possibility: some investigators believe a portion of money stolen from BCCI's depositors financed covert operations sponsored by the U.S. government. If BCCI's frauds were exposed, this source of funds would dry up. There are even indications that CIA officials were involved in the founding of BCCI.

One former officer of the bank recalls a conversation he had in the early 1980s with a close associate of Abedi's, a Pakistani who had worked for United Bank and then joined BCCI when it was established. The Pakistani said that Abedi had worked with the CIA during his United Bank days and that the CIA had encouraged him in his project to launch BCCI, since the agency realized that an international bank could provide valuable cover for intelligence operations. The Pakistani mentioned one U.S. intelligence official by name: Richard Helms, the director of the CIA until early 1973. Helms later became a legal client of Clark Clifford's and a business partner of two BCCI insiders. "What I have been told," says this source, "is that it wasn't a Pakistani bank at all. The guys behind the bank weren't Pakistani at all. The whole thing was a front."

Helms has described reports of his involvement in the BCCI takeover of First American as absolute nonsense. Yet regardless of what Helms says, no one can deny that virtually every major character in the takeover was connected in one way or another to U.S. intelligence:

George Olmsted, head of the OSS's China section during the war, controlled Financial General Bankshares (later First American Bankshares) until 1977.

CONTINUED...

http://www.newsweek.com/id/126126

This is just one example of global criminality, a corrupt financial institution harnessed to move money for drug runners, arms merchants, terrorists, spies, warmongers and war profiteers. BCCI used its power to influence most of the world's governments -- all in service to the world's financial elite.

You know, personally, this is not ancient history affecting some ghost in time. They've just ripped you and America's taxpayers off to the tune of $24 trillion. Good, for them, a LOT of that money has gone to foreign banks. Best of all, for them, they're out of reach of American Justice. Too bad for you, me, the planet and the Constitution.