TEHRAN – Robert David Steele, a former Marine Corps infantry officer and CIA spy as well as an activist for Open Source Everything Engineering (OSEE), contributes regularly to Tehran Times.
Q. The above cartoon was published a few days ago by Ben Garrison, America’s most famous conservative cartoonist who has also been ruthlessly defamed and impoverished by the Anti-Defamation League (ADL). His cartoons are known to be favored by President Donald Trump. How did you achieve this rather unusual honor and can you explain the cartoon?
A. The cartoon was commissioned by one of my fans, a lady of means who has earned a PhD and MD and believes that my motto “the truth at any cost lowers all other costs” should be the President’s motto as well. This was her way of both respecting my commitment to reform, and seeking to remind the President that I am armed, dangerous, and still waiting to serve him.
She provided the artist with some ideas, he kindly asked me what I thought was important, and out of this came his original creation. I was stunned by his ability to capture in one image everything I despise and seek to reform. He envisioned me as a “Don Quixote” but unlike Don Quixote, he sees me surfing the Trump/GOP wave, backed up by the National Security Agency (NSA) database holding all the evidence we need to eradicate traitors, elite pedophiles, and both white and black collar criminals.
Q. On Friday May 15, 2020 you published “Release: President Trump Urged to Create DoD-DoJ Task Force on Financial Crime.” at your new website, Licensed to Steal. That release proposes a strategy that would allow the President to take back – without wasting time in court – over $50 trillion in wealth stolen by Wall Street from US pension funds and individual investors.
William Binney (NSA) and Robert Steele (CIA) are two of America’s foremost intelligence reformers, along with General Michael Flynn, co-author of Fixing Intel.
On Monday, May 18, 2020 you published “President Trump Briefed on NSA Capabilities Against Financial Crime” with a quote from your colleague, William Binney, former Chief Technical Officer for NSA:
With 10 people, within 30 days, it would be a simple matter to identify, by name, every person using email, text, cellular or even game chat communications, associated with naked short selling or money laundering. 99% of NSA’s data is not processed, this is by design. We have it all.
In the same release you say:
With the exoneration of General Michael Flynn, the time has come to purge our secret intelligence agencies of Obama left-overs, and put those agencies to work for the American people. There is no better starting place to Make America Great again than by stopping Wall Street financial crime against pension funds and individual investors as well an entrepreneurs.
You appear to be declaring war against the two most powerful, ruthless, and wealthy elements of the Deep State – Wall Street and the US secret intelligence community that serves Wall Street. Have you lost your mind? Or is something really exciting happening here?
A. Let me say first that I was well ahead of the pack on 9/11 as a Zionist (not Jewish) and U.S. neo-conservative covert operation backed by Dick Cheney; my 9/11 Truth memorandum for the President, delivered to the White House on 8 August 2018, is the single most read publication on the topic. The book by West Pointer Joachim Hagopian that I have nurtured on Pedophilia & Empire: Satan, Sodomy, & the Deep State is also the single most read publication on that terrible topic that includes child torture, child murder, and Satanic Ritual Abuse (SRA). I have been less successful at addressing #GoogleGestapo – the Zionist-led censorship of our social media (the ADL is the chief censor in America) – and election reform (today 70% of all US voters are excluded from participation in our fake democracy – this is by agreement between the two parties that share power).
Wall Street financial crime has been well-known since the 1980’s. What has been lacking to date is a President willing to defend the 99% against the 1%. “The system is rigged.” Indeed.
I have always known that Wall Street lacked integrity – my reviews of Michael Lewis’s Liar’s Poker, Wayne Jett’s The Fruits of Graft, and then Matt Taibbi’s Griftophia about the merger of political and financial crime in the USA and his book The Divide about one law for the rich and one for the poor, were capped by two profoundly troubling books by William Greider on The Soul of Capitalism and John Bogle on The Battle for the Soul of Capitalism. More recently I have read but not reviewed a book just published by Dr. Susanne Trimbath, Naked, Short, and Greedy, and many documents by Dr. Robert Shapiro, all available at my new website, StopNakedShortSelling.org. I have conducted several video interviews, and consulted the top attorney in America on this illegal domain, Wes Christian, who has encouraged me in my reflections.
Here is what shocked me once I finished looking at over 900 articles and documents including court filings and administrative actions including fines:
01 According to the SEC, 914,261,864 shares valued at over $17 billion failed to deliver in the first two weeks of July ($1.9 billion every market day). At that rate, Wall Street has stolen tens of trillions of dollars over the last 20 years. This was stolen from pension funds and/or investors through market manipulation and particularly a practice known as naked short selling – the selling of counterfeit or “phantom” shares that are never delivered.
02 The US Government – and particularly the Senate Banking Committee, the Department of Justice, and the Securities Exchange Commission (SEC) have not done enough to deter this massive theft. Token fines amounting to a half-billion dollars have been levied, and the Holder Memorandum, by Eric Holder under President Barack Obama, de-criminalized financial crime by Wall Street – no one goes to jail, fines are the cost of doing business.
03 The Depository Trust & Clearing Corporation (DTCC) is a private self-regulating organization managed by the leaders of the Wall Street firms themselves, and allowed – by design – to thumb their nose at oversight from the SEC.
04 In addition to stealing money by selling shares that do not exist, Wall Street aids and abets laundering trillions in illicit cash by pretending that the cash was earned through brilliant stock investments that never actually took place.
It is my opinion after just two weeks of reading that our President has the power to take back at least $50 trillion from Wall Street without having to go through lengthy legal battles; and that the President may not realize that the $15 trillion he appears to have already recovered is chump change – a fraction of what he can get if he creates a Joint Department of Defense – Department of Justice Task Force on Financial Crime and goes for the jugular using NSA and DTCC data.
Q. We all understand that NSA and its partners such as GCHQ in the UK, CSEC in Canada, and European elements that are funded in part by NSA, collect every manner of electronic communication including encrypted communications. But supposedly Signals Intelligence (SIGINT) cannot be used in legal proceedings. What is your strategy here for the President?
A. I have personally seen emails in which the compliance officer for a major Wall Street investment firm informs the leadership that their naked short selling is illegal and advises them to do it anyway. I have also seen the responding email from the leadership saying in essence: “we will suck every ounce of blood out of our unsuspecting clients and you will shut up and like it.”
NSA is very badly managed – Director of National Intelligence (DNI) Jim Clapper supported NSA Director Mike Hayden in turning NSA over to contractors and instead of focusing on producing decision-support and processing what it collected, they focused on collection for the sake of budget building, and never invested in processing. NSA processes less than 1% of what it collects – but it does seem to process whatever it needs to blackmail members of Congress.
It is my view that NSA could be a force for great good if the President were to reinstate my friend and colleague William Binney at NSA with a mandate to immediately process all data having to do with identifying traitors, elite pedophiles, and both white and black collar criminals. Bill and I have discussed this, you have his quote above – we can nail every naked short seller on Wall Street within 30 days, by name.
This information would not be used for a legal process. It would be used to confront the leaders within this well-established and well-protected criminal network. Among these are the top naked short sellers and money launderers: Goldman Sachs, Merrill Lynch, JPMorgan, Credit Suisse, Deutsche Bank, and UBS. The proposition is quite simple: immediately return to the US Treasury no less than $50 trillion, or be destroyed.
Q. What do you mean, be destroyed?
Let me first point out that we have not discussed the second line of Presidential attack – a mandatory audit of the DTCC and every single “failure to settle.” I am reliably informed that we can audit all Goldman Sachs failures to settle with a few people in a few days at a cost of under $1 million. Once we do all six of the major criminal enterprises that are “Licensed to Steal” by the US Government (and the State of New York including its current Governor Andrew Cuomo), every other organization will know that we have them dead to rights, it is just a matter of time.
My vision for the use of NSA data is quite simple. To document for the President and the leadership of the Department of Justice – and the Members of Congress who have been complicit in this persistent massive crime against US pension funds and individual investors and entrepreneurs – a complete and compelling map, “by name,” of the 1,000 or so top criminals.
If the six major firms do not immediately transfer the $50 trillion back to the US Treasury, I envision some combination of Presidentially-declassified intercepts being released to the public each day (a particularly damning email from the CEO of Goldman Sachs, for example), with the end result that if the firms do not capitulate within the week, they will follow Bear Stearns and Lehman Brothers into hell.
Warren Buffett just sold his entire stake in Goldman Sachs. He knows what is coming.
Then of course, you always have Army Rangers with fixed bayonets. Given that the USA is in a declared state of war today and President Donald Trump has all of the War Powers granted to a prior President by Congress, then it follows that given a sufficiency of evidence from both NSA and an audit of DTCC, there is absolutely no realistic obstacle to our putting 1,000 people into Guantanamo and throwing away the key. They are traitors. They have no place to run.
Q. It does not seem fair for millions of people to have been created by Wall Street only to have the President recover the money for his use at the federal level. Your thoughts on this?
A. I have considered this. The audit will over time identify every stock that has been naked short sold, with particular attention to two kinds of investors: those who lost everything against counterfeit shares; and – this would require mandatory audits of the internal books of the primary brokers as well as a massive public survey – those who were told they owned shares in managed portfolios, but the shares were never actually purchased, which is a simpler fraud.
I envision President Trump creating a national reparations fund with a formal management structure, categories of victims including inventors whose firms were destroyed to either keep their innovations from the marketplace or to buy them up cheap, and a process that explicitly respects those who died impoverished and provides for their heirs.
If President Trump is as wise as I believe him to be, multiple trillions will be set aside for victims, and he will not accept from the six firms I have mentioned, and another hundred or so easily identified, anything less than $50 trillion to be spent on rebuilding our economy and our society – the civil war is over, those with morality who hold family dear have won. There is also the matter of returning to local communities all of the land and other physical assets purchased with stolen money, this could be a separate $25 trillion bonanza for Main Street.
Q. Perhaps I should have asked this at first but what is naked short selling in simple terms?
A. The best analogy I have heard is from Wes Christian. Imagine that you own one car with one title or certificate of ownership. Now imagine making one million – or ten million – copies of that title and selling them to millions of investors, who never receive a car or their money back. That is naked short selling. This is done by most major players in every stock exchange in the world but the US and UK are the worst.
Or put another way: imagine that you sold a stock at $5 (without owning any shares), and then lie, cheat and steal – manipulate the information with false legal claims, false government investigations, false media reporting – even using moles inside the target company to plant evidence of wrong-doing, and then when the stock drops to $2, you buy it, meet your obligations, and keep $3 in profit. This is a high finance “murder” of a company for profit.
Naked short selling is one of several means by which Wall Street bankers and the hedge funds manipulate the marketplace. Market manipulations are illegal, common, and enabled by US Government elements not doing enough and often complicit in the financial fraud. Stock buy-backs (after manipulating the price), hoarding cash in off-shore accounts to avoid taxes; manipulating supply chain prices to claim false higher prices for incoming products and services and false lower prices for outgoing products and services – this is called import-export fraud – and outright lies to the public with the collaboration of journalists, some of whom are paid, is all part of what has been called the Wall Street “casino.”
Q. How does naked short selling, which is illegal, differ from short selling, which is legal?
A. This is a very important question. Short selling is legal because it incentivizes those who believe they have truthful information about a stock price being over-valued for any number of reasons, and they are allowed to bet what they know on the condition that they actually own or borrow with an obligation to buy, the stock in question.
Naked short telling is pure counterfeiting or more accurately, the use of “phantom shares” that do not exist. This is like betting in a casino with fake chips that have no value, if you lose you do not pay up, if you win you take everyone’s money. Naked short selling is a crime equivalent in scope and impact to profiting from drug sales or trade-in women and children.
Q. I still don’t understand naked short selling. Walk us through a typical case.
A. Fair enough. Let me say first that regulations implemented in the aftermath of 2008 had a moderating effect at the highest end of the market, and naked short selling tends not to occur at the higher end because people like Warren Buffett can see a naked short campaign easily, and they can snap up shares whose prices have been manipulated downwards, leaving the naked short sellers in pain, mindful that the DTCC eases that pain with blatant cover-ups and “off sets.” As they say in the gambling business, “the house never loses.”
Naked short selling today largely occurs at lower levels, with small and emerging companies desperate for funding. What they do not know is that the placement firms – HCWainwright comes to mind – are often in league with the naked short sellers. So here is the sequence.
– Promising new company seeks additional funding, hires a firm to place its offering
– Placement firm provides insider information to naked short sellers – this is illegal
– Millions of counterfeit shares are offered, often many more shares than have been issued
– Complicit law firms issue notices of class action lawsuits, completely unfounded
– Complicit journalists write about the firm “cooking its books” or being “under investigation”
– Complicit SEC officials file public demands for information.
– Price is driven down.
– Placement is made, shares are bought up at the lower price, naked short sellers cover their illegal bets, and the company is left with very expensive money and it devalued – they had to issue many more shares to cover the placement target amount, than they planned.
+ Now the price can be driven up, the criminal shareholders sell high, and repeat.
An alternative scenario is that the naked short sellers simply pick a company at random and start spreading false stories and instigating investigations from Singapore to Berlin – Wirecard is a recent example – while offering ten times the number of shares normally traded, meaning that non-existent shares are being sold. In the Wirecard case a journalist with the Financial Times (UK) is being investigated for maliciously defaming the company. You also have “market research firms” that are complete frauds, they spew lies and post to social media, these people are called “bashers.” Government have not caught up with the need to police cyber-space in real time, it is too easy to commit the crimes of defamation and tortious interference across social media, with impunity, at the same time that social media, controlled by the ADL on behalf of its clients on Wall Street, censors truthful reporting about Wall Street crimes.
Q. In an earlier conversation you said that naked short selling is the perfect crime. What did you mean by this?
A. In US law – I imagine most other countries follow in some fashion – when a company is completely destroyed and goes out of business, every one of its shareholders loses standing with the courts – they have no right to bring a lawsuit against the people who destroyed the company. This is one reason why naked short sellers – criminals – strive to completely destroy a company rather than just manipulate a stock for a time: because with full destruction they are achieving perfect immunity.
Q. Is there anything companies can do to defend themselves?
A. Let me answer that by first saying that the leaders of most companies are failing in their responsibility to their stake-holders (managers, employees, inventors and share-holders) by not being attentive to the obvious signs of attack (when a company has only issued 10 million shares of stock and suddenly 50 million shares are being traded, this is a clear indicator of naked short selling). Alan Pollack, a Partner at Warshaw Burstein in New York City, speaks to fiduciary responsibilities in his video interview with me.
Now, for those companies whose leaders do wish to protect themselves against naked short sellers, I have both advice and a caution.
The advice: immediately hire Tom Ronk at BuyIns.net and David Wenger at ShareIntel. Both services are complimentary and provide meaningful and actionable intelligence (decision-support) to help combat illegal naked short selling. Consider filing lawsuits against those who are defaming the company and carrying out tortious interference with its operations by lying about it – this includes the law firms announcing class action shareholder lawsuits, the journalists spreading false rumors, and the “market research” firms that are nothing more than libel machines for hire.
The caution: the SEC is the enemy. The senior officers at the SEC are in absolute collusion with the naked short sellers and will do whatever it takes to squash complaints. In my readings I have seen too many instances documented where the SEC, instead of taking a whistleblower seriously, immediately accuses the victim CEO of financial improprieties, and effectively adds momentum to the naked short selling campaign to destroy the company. I am totally disgusted by both the SEC and the Senate Banking Committee – former Senator Christopher Dodd (D-CT) and current Senator Richard Shelby (R-AL) have in my view disgraced the Senate and betrayed the public trust in enabling naked short selling, money laundering, and all manner of other financial crimes, over decades. In my view both should be subject to a complete NSA lay-down of all of their communications with Wall Street leaders. Indeed, instead of using NSA to blackmail Senators to allow dishonesty, we should be using NSA to monitor the criminal misbehavior of Members of Congress as well as senior executives in the Administration, and deal with these individual extra-judicially. Senator Richard Blumenthal (D-CT) merits special scrutiny now, in my opinion. By extra-judicial I mean we offer them a chance to resign rather than go to public trial.
Q. Are solutions emerging?
A. A great deal of the problem could be eliminated by placing the DTCC under federal control and eliminating the concealment of Failure to Settle transactions. There are good laws on the books, they are simply not enforced, in part because every Member of Congress, and every state and federal executive, has been bribed or blackmailed –some with pedophilia entrapment videos created by Jeffrey Epstein, Ghislaine Maxwell and the Mossad with CIA and FBI complicity – or they are turning a blind eye with the expectation of a lucrative job offer from Wall Street at salaries five times greater than their government salary.
Blockchain solutions are also emerging, tZero by Patrick Byrne whose firm Overstock was nearly destroyed by naked short selling, is one. Some companies are choosing to delist. Others are joining exchanges that forbid high frequency trading where the house always had an insider trading advantage and the government can never catch up. Others are refusing to go public.
For me the primary solution is this: we must re-criminalize financial crime, overturn the Holder Memorandum, and start putting at least one hundred major figures into jail for their crimes against the American public and the American economy.
I have just completed a video interview with Professor G. Robert Blakey, an utterly brilliant man with experience across Congress, the Executive, at the state level, and as a professor of law, and I am persuaded that half the problem is the failure to hold Wall Street accountable under a federal RICO process that both criminalizes financial crime and also demands total forfeiture of ill-gotten gain as well as triple damages; and the other half of the problem is lazy judges and prosecutors who don’t have the commitment needed to protect the public from very wealthy predators. Wall Street has in my opinion bribed the US Senate Banking Committee to make it impossible to sue Wall Street financial criminals (to have “standing” and to demand “discovery” while also blocking the use of federal RICO against financial crimes by Wall Street (it still applies to black collar criminals on the street).
I was also interviewed by Stephen E. Arnold, that six-minute video summarizes the three conclusions, the bottom line is that we can use NSA to put Wall Street criminals in jail, and should do so.
Q. Do you have anything positive to say about Wall Street?
A. Yes. We need honest capital markets to fund innovation and the re-invention of the American economy in the aftermath of a global economy melt-down rooted in lies. As I wrote here in Tehran Times, in “Interview: A Counterintelligence Perspective on the Wuhan Virus – A Zionist Bio-War False Flag Attack?,” this entire COVID-19 has been a false flag operation led by the Zionists with the collaboration of rogue elements of the US and UK and perhaps German governments, and it was not about an infectious disease, it was about insider trading in complicity with a global media fear-mongering campaign.
It is not possible for President Trump to buy the rebuilding of America, even if he has $50 trillion to spend, even if the Chinese forgive US debt as part of a grand bargain. Without the money that can be raised from the population at large, innovation and rapid reinstatement of economic prosperity are not possible.
We need Wall Street. We also need integrity – honesty – in every aspect of our economy.
Cartoon by Ben Garrison reprinted with permission.
Graphic by Robert Steele reprinted with permission.
Photograph by Robert Steele, reprinted with permission