Financial terrorism suspected in 2008 economic crash

**Pal334** · 03-02-2011, 08:15 AM

While not conclusive, there is sufficient evidence to make this plausible and of concern . What I find disturbing is the "hot potato" attitude that several government agencies are taking. The authors have, in my opion sufficient credibility to make this a valid theory

http://www.washingtontimes.com/news/...crash/?page=1#

Here are some excerpts from the article. Although the article is long, it is worth reading.

"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.”

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."

**Winnie** · 03-02-2011, 08:19 AM

Linkee no workee, Pal.

**Trabitha** · 03-02-2011, 08:40 AM

http://www.washingtontimes.com/news/...crash/?page=1#

**Winnie** · 03-02-2011, 08:47 AM

Thankyou T!

**Pal334** · 03-02-2011, 09:22 AM

Ooops, sorry about that, Thanks for the assist T.

**Rick** · 03-02-2011, 09:57 AM

I find this one very hard to understand outside the scope of radical Islam. China and/or Russia lost billions (trillions?) in the downturn not only because of decreased demand of goods they produce but also in the monetary exchange rates. There really was no way to fail the United States without doing the same to themselves. That aside, we are their largest trading partner so it would be like a store owner sabotaging his customer. That makes no sense. Then add to that the fact the China has, without question, the most extensive and the best industrial and military espionage system on the planet and they should be pretty happy with the status quo, I would think. It's sort of insider trading on steroids for them since they know not only all of the technology we have but what moves we intend to make (on the corporate side, military too, maybe) before it's made. They just rake in the money.

Radical Islam is a different story. I don't for a minute believe they could have caused the downturn. That was just inevitable. But they certainly could have prospered in a very large way as the article outlined. Pre-positioning your people in the right places and understanding how the market works would net them a small mint.

All that aside for just a moment. Let's assume it did happen exactly as the article theorizes (and it's only a theory at this point) then I think it speaks volumes for the ability of America to overcome even a concentrated effort to bring us down by economic means. The U.S. dollar is a lot more robust than folks give it credit for. It certainly cost us a lot in terms of accrued debt but it didn't trigger anything like the article suggests they were intending.