Posted on 03/01/2011 6:12:36 AM PST by KosmicKitty
Evidence outlined in a Pentagon contractor report suggests that financial subversion carried out by unknown parties, such as terrorists or hostile nations, contributed to the 2008 economic crash by covertly using vulnerabilities in the U.S. financial system.
The unclassified 2009 report “Economic Warfare: Risks and Responses” by financial analyst Kevin D. Freeman, a copy of which was obtained by The Washington Times, states that “a three-phased attack was planned and is in the process against the United States economy.”
While economic analysts and a final report from the federal government's Financial Crisis Inquiry Commission blame the crash on such economic factors as high-risk mortgage lending practices and poor federal regulation and supervision, the Pentagon contractor adds a new element: “outside forces,” a factor the commission did not examine.
“There is sufficient justification to question whether outside forces triggered, capitalized upon or magnified the economic difficulties of 2008,” the report says, explaining that those domestic economic factors would have caused a “normal downturn” but not the “near collapse” of the global economic system that took place.
Suspects include financial enemies in Middle Eastern states, Islamic terrorists, hostile members of the Chinese military, or government and organized crime groups in Russia, Venezuela or Iran. Chinese military officials publicly have suggested using economic warfare against the U.S.
(Excerpt) Read more at washingtontimes.com ...
What relation does the mortgage crisis have with the $550 billion dollar run on the markets on Sep. 15, 2008?
The evil Republicans kicked him out of office.
The one caused the other. Were you guys all asleep during the financial crisis?
“What I can’t figure out is who likes it that way more,”
One thing that I have noticed is that this board lately has been quiet when it comes to defending WS. I think some have realized defending the indefensible selling of smoke and mirrors is a bad idea and some are just wishing and hoping for another chance. When Warren Buffet is seen to be just another shill with his Goldman-Sachs-Obama connection I can’t see how mom and pop would ever consider the market a good place to put their money until sanity is regained and only things with intrinsic value can be traded.
No, I wasn’t asleep. And I’m sane.
Beck just spoke about this last night, incredible....when you get a chance, you should watch it.
.......
The first phase of the economic attack, the report said, was the escalation of oil prices by speculators from 2007 to mid-2008 that coincided with the housing finance crisis.
In the second phase, the stock market collapsed by what the report called a “bear raid” from unidentified sources on Bear Stearns, Lehman Brothers and other Wall Street firms.
“This produced a complete collapse in credit availability and almost started a global depression,” Mr. Freeman said.
The third phase is what Mr. Freeman states in the report was the main source of the economic system’s vulnerability. “We have taken on massive public debt as the government was the only party who could access capital markets in late 2008 and early 2009,” he said, placing the U.S. dollar’s global reserve currency status at grave risk.
Bump.
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