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Firstly the failure of American intelligence is
obvious. American intelligence relies heavily on signals intelligence (SIGINT).
Signals intelligence includes any intelligence collected from intercepted
communications, such as microwave, landlines secret writing, or electromagnetic
emanations (e.g., foreign radar signals or telemetry from an object of
intelligence interest.) This strategy has clearly shown its limits
in fighting terrorism, which is likely to be the war of the
future
<SPAN
class=010425413-12092001>The failure is not the
technology or the reliance on the technology. The failure is the belief
that we can fight terrorism by relying on reason and talking a good
game. We have become complacent. We have restricted our
intelligence community in its ability to use all the tools that are
available. As more and more people die we stand by our principle that we
have a higher morality than those terrorists and that we will not stoop to
their level. That is little consolation to those who pay the ultimate
price. We go to war and then restrict those who are conducting it in
their ability to win the war. We consider a tie in war to be a
win. It is not. The response has to be loud, clear, and emphatic
that we will no longer be the "patsy" of the world.
<FONT face=Arial
color=#0000ff size=2><SPAN
class=010425413-12092001>
<FONT face=Arial
color=#0000ff size=2>
Secondly, the “Star War” pet
project of president Bush has been proved today to be a dream that would be
unable to protect the American population from terrorists attacks. Again high
tech and huge amount of taxpayers’ money is of little help to fight determined
terrorist.
<FONT face=Arial
color=#0000ff size=2>I do not choose to debate
the merits of Star Wars at this time. However, all have you have stated
is an obvious fact. Statement of facts are easy. Solutions are
not. To totally dismiss any possible solution (Star Wars or otherwise)
is foolhardy. Terrorists operate by finding our vulnerability and then
devising ways to strike at that vulnerability. If we do not come up with
some way to defend against high tech terrorism then that will become their
weapon of choice. The only way to truly solve the problem is to identify
the terrorist and then leave no stone unturned to destroy them. And be
constantly alert as new terrorists appear on the scene and wipe them
out.
<FONT face=Arial
color=#0000ff size=2>
<FONT face=Arial
size=2>Thirdly, we all go through metal
detectors and X-Ray machines before boarding aircrafts. Yet fanatics have been
able to smuggle weapons in order to highjack several
airplanes
<FONT face=Arial
color=#0000ff size=2>
<FONT face=Arial
color=#0000ff size=2>So what is the
solution. Are Americans going to resist a restriction of our civil
liberties or are we going to realize that we are dealing with animals who are
not entitled to civil liberties and that in the process of identifying and
destroying them we may have to forego some of our
liberties.
<FONT face=Arial
color=#0000ff size=2>
<FONT face=Arial
size=2>Yesterday’s tragedy may lead the
American people to reassess its belief in technology.
<FONT face=Arial
color=#0000ff size=2>
<FONT face=Arial
color=#0000ff size=2>Or maybe it will lead us
to reassess the restrictions we place on those who must use the technology to
protect us.
<FONT face=Arial
color=#0000ff size=2>
<FONT face=Arial
color=#0000ff size=2>Bill
Daniel
<SPAN
class=010425413-12092001> -----Original Message-----<SPAN
class=010425413-12092001>[Bill
Daniel]
<FONT face=Tahoma
size=2>From: Jean Jacques Chenier
[mailto:JChenier@xxxxxxxxxx]Sent: Wednesday, September 12, 2001
8:58 AMTo: realtraders@xxxxxxxxxxxxxxxSubject: [RT] The
day after
The day after.
While we mourn our friends, acquaintances and
colleagues our duty is to understand what will be the impact of yesterday’s
tragedy on the financial markets. This major event could mark a shift away
from America’s heavy reliance on technology and have tremendous consequences
on the way America function on the way.
Firstly the failure of American intelligence is
obvious. American intelligence relies heavily on signals intelligence
(SIGINT). Signals intelligence includes any intelligence collected from
intercepted communications, such as microwave, landlines secret writing, or
electromagnetic emanations (e.g., foreign radar signals or telemetry from an
object of intelligence interest.) This strategy has clearly shown
its limits in fighting terrorism, which is likely to be the war of the
future.
Secondly, the “Star War” pet project of president
Bush has been proved today to be a dream that would be unable to protect the
American population from terrorists attacks. Again high tech and huge amount
of taxpayers’ money is of little help to fight determined
terrorist.
Thirdly, we all go through metal detectors and
X-Ray machines before boarding aircrafts. Yet fanatics have been able to
smuggle weapons in order to highjack several airplanes.
As for the World Trade center itself, it may look
as another failure of technology. It was planned to stand a 707 crash. The
fact that the World Trade Center has been targeted twice is no coincidence. To
gather so many people in the same place was an accident waiting to happen. The
fact that the technology did exist to build it should not have been a reason
good enough to do it. Again there was a huge amount of money spent and a naive
belief in technology.
Yesterday’s tragedy may lead the American people
to reassess its belief in technology.
A very possible consequence of yesterday’s horror
may be a continuous slide on the technology laden Nasdaq index. All the stock
indices will suffer , as whole sectors of the economy will be hurt: financial
services of course (some of them head-quartered in the World Trade Center,
other had their back offices), airlines, hotels etc. but the Nasdaq is likely
to suffer the most. In last week’s newsletter (see our web site <FONT
face=Arial size=2><A
href="http://www.alterama.com";>http://www.alterama.com) we were
forecasting a drop of the S&P500 to 930, an objective that we might reach
sooner than we thought. As for the Nasdaq 100, we reiterate the objective of
1,100 that we stated several times in 2001.
Jean Jacques ChenierAlternative Asset
Management, Inc.Tel: 646 840 0385E-mail: <A
href="mailto:JChenier@xxxxxxxxxxxx";><FONT face=Arial
size=2>JChenier@xxxxxxxxxxxx
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