Financial terrorism suspected in 2008 economic crash

Financial terrorism suspected in 2008 economic crash

www.washingtontimes.com

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.

....

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.

(visit the link for the full news article)

Michael Vickers, assistant secretary of defense for special operations said that the Pentagon was not the appropriate agency to assess economic warfare and financial terrorism risks.

I find this all rather odd. I find it even more odd that in the list of suspects, no corporations were mentioned! Financial terrorism would undoubtedly emanate from the financial assets of one or more large corporations. In which case, the derivative scam would not be hard to track at all.

First let's talk instead about the corporations that were involved without pointing fingers. The financial meltdown was most definitely an inside job. That is the only way a self-sustaining economy who holds the world currency would have been affected.

If Kevin D. Freeman lives long enough to push through an investigation, it's going to be near impossible to convince the American public that China, Russia or the Middle East is involved. We're not that stupid.

Instead, we most definitely can point our fingers at Bernanke - not just because of inflation, but because he has no choice but to be well aware of the who, what, when, where, and how this occurred. It is obvious that this derivative hit was allowed to happen. The only explanation left is to rip the World Reserve Currency away from the US. That is pretty essential if a few corporations wanted to bring about a power shift (NWO) and their assets out of the scrutiny of US law.


www.washingtontimes.com
(visit the link for the full news article)

It was most certainly an inside job... Bernanke wont be held accountable for anything, neither will the parties involved, if anything even comes of it.

Sadly, the people that would be the prosecutors, are the same people that have been put in power by these corporations. It is in their best interests to NOT take any further action, or they might end up on the wrong side of these folks... These folks are more dangerous than any traditional terrorist organization (think Al Qaeda but instead of religious zealots, we are talking financial zealots).

And, yes we as a group ARE that stupid. Individually, its a different story, but, when you get more than like 75 people together, the collective IQ drops to around 30.

S&F though for pointing all this out.

:/ I have little hope. Maybe its just one of those decades...

Wow, the U.S is actually considering pushing this BS out to the public?

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.

But wait, it gets better;

“This is the equivalent of box cutters on an airplane,” Mr. Freeman said.

Asked by The Times who he thought to be the most likely behind the financial attacks, Mr. Freeman said: “Unfortunately, the two major strategic threats, radical jihadists and the Chinese, are among the best positioned in the economic battle space.”

The extreme frustration over the fact that a far-fetched idea such as random radical jihadists or Chinese being considered as the perpetrators would even be considered before thoroughly probing every single bankers and corporation on Wall Street legitimately quickly dwindles when you realise the perpetrators are the investigators.

Well, if the people buy any of this comical nonsense, I will officially lose hope on the American people.

Then again, when they said 19 box-cutters brought down those towers, the public took it hook, line and sinker. What's wrong with telling them a bunch of radical jihadists brought down the world's strongest economy?

reply to post by CodeRed3D


I wouldn't say it was definitely an inside job. Some other country or group could have seen our corporations/banks making big money out of nothing by playing with huge derivative bets, so they planned for the right time and bet against us. All of that money had to go somewhere... It didn't just disappear. Someone took it!!! It could have easily been other countries. China, Russia, Israel, Iran.

However, whatever the reason was our government used it as an excuse to print TRILLIONS of dollars. The FED, U.S. Gov., Goldman Slacks, AIG, JP Morgan, and a bunch of others MADE MONEY when everyone lost money by creating money out of nothing.

Did they plan to do that?
Who orchestrated the original winning bet(s) against us and took the money.
Who has that money now?
Why is this just now coming to news?
Why haven't they done a better job explaining what really caused the recession?
Why haven’t they given us more details as to who exactly was at fault?
Why hasn't anyone been charged?

The US shouldn't have to operate as a world reserve currency for two reasons.

One, it is entirely illogical to conceive the notion that we should force other countries to conduct business deals with our currency. It infringes upon national sovereignty and would constitute nothing other than economic imperialism of the worst kind. It only perpetuates the struggling hegemony of the American empire, and will spell more disaster as more and more countries break away from our grip.

The second reason is what is called the Triffin Dilemma. Basically, in order for utilize a national currency as the global business currency, the US has to run up a huge trade deficit in order to keep the money flowing out of the country to supply others with the reserves. In other words, we have to import more than we export. It was this deficit that we had to remove ourselves from the gold standard during the Nixon shocks, leading to a decline in the value of our currency. We have been driven to the point where we have to borrow funds from countries in order to maintain imports (usually importing from the same country we're borrowing from, i.e. China), which has fueled our enormous national debt.

There is only one logical solution to this problem: a separate, global reserve currency fixed to gold and silver that is used to do business in. Likewise, a global bank would have to be created to administer the currency and to oversee regulatory policies such as the fixing of global exchange rates.

Financial terrorism? Not from other countries. We're victims of our own economic imperialism. What goes around comes around.

reply to post by Someone336


But who is really going to control that global reserve currency?

reply to post by tooo many pills


That is really the crux of the matter: such a bank would have to be free from corporate or state interests and represent each country equally - sort of like an economic United Nations. It also would have to be free from the destructive ideology of the IMF and World Bank.

In other words, at this stage, in our history, a pipe dream.

However, if we want to escape this vicious cycle that is destroying this country and others, that is one of two solutions. The other is just as unlike, given the benefits from globalization for multi-national corporations: each country establishes incredible protectionist trade policies and focuses solely on its own domestic manufacturing base. Trade would be done only in the immediately surrounding regions in order to keep costs managable.

The only way this could happen would be conceivable a pro-active government that had no qualms with revoking corporate charters and taking anti-trust laws to their most extreme.

wow
Unbelievable!!!

Only a complete fool would believe this
Hostile foreign nations????

It was all an inside job man
Come onnnn

An inside job and nobody has been arrested!!!

Trying to find any excuse to blame anyone but the American gov!.
It was an inside job that has been going on for years, the huge financial dis-balance or the appetite for more when you have no means to pay.
The people with no monetary self restraint are the ones to blame, the banks helped them and the gov. was the intellectual author.
Who is to blame now? Pakistan? Afghanistan? Venezuela?
C’mon!

Cheers
Jechu

reply to post by Jechu


It wasn't the government, unless you consider Wall Street our government.

It most certainly was financial terrorism, but it was clearly perpetrated by GoldmanSachs, the Fed (a private, non-government entity), and several other high-profile New York banks.

New York city is the center of a global criminal cartel of financiers.

The government failed to stop them or hold them accountable, but they are the ones who designed it, orchestrated it, and benefitted from it.

Anyone who can't see that isn't looking.

What a crock of crap!!!

Interesting that this comes out now after the oscar winning documentary "Inside Job" director, sunday night, used the opening his acceptance speech time to put out a message.

“Forgive me, I must start by pointing out that three years after our horrific financial crisis caused by financial fraud, not a single financial executive has gone to jail, and that’s wrong.”

For your reading pleasure.

WSJ Asks him about his speech

And since that hit the ears of millions that wouldn't otherwise have known that, they seem to be doing some damage control. With the protesting in Wisconsin on such a large scale, they(tptb) are starting to see that we arent quite as many sheeple as they thought we were.

My .02¢

Silver

Everyone who has ever seen the movies: The Money Masters, Money as Debt I or II, The American Dream, or The Secret of OZ knows who are the real financial terrorists...

reply to post by CodeRed3D


This whole article is a bunch of non-specific, inference based garbage. He sites no specific examples, in a situation where quantitative data is certainly available, he provides none? Securities transactions (regardless of where they originate) are historical records and are readily available should someone seek to obtain them. This strikes me a nothing more than a hand grenade to drive more power to either the Pentagon, Treasury, DHS or some other government entity who seeks to implement more privacy violating laws like the "Know Your Customer" bs thats been on the books for more than a decade.

The capital markets are global in nature. As such players in those markets are free to engage in market activity, regardless of the outcome. Is it surprising that the Chinese or Saudi's knew that the housing market was about to blow up? Is it surprising that foreign entities knew that the CDOs were worthless? If Goldman Sachs was directing to drive up the market in CDOs while simultaneously shorting that debt market, is it surprising that international entities did the same? Of course they did and they did what the US investment banks did. Ride that bad boy up the curve and then dump it.

Soverign Wealth Funds are where the action is in an instutitional investment managers world. There is not a single global investment manager who does not have a presence in China or Saudi Arabia. Why do they have an office in China? The Chinese government does not allow its citizens to hold brokerage accounts. They have the office in China because they want a piece of the multi trillion dollar Chinese Soverign Wealth fund. Thats why they are there. US investment banks court those assets harder than they court any others and for this joker to suggest that the managers of that fund (the Chinese government) is not going to act in the fund's best interest is comical. If you read between the lines he almost suggests that these funds should not be given the same freedoms as other investors. How does that work? Who would invest in a vehicle when you are constrained as to when you can divest? Only a fool.

Did these soverign wealth funds have inside knowledge? Of course they did. They have intelligence assets, some of which are in US investment banks. Do you think that were the US intelligence apparatus to find out that a specific event would occur which would dramatically impact a foreign economy that they would not drop Jamie Dimon and the boys at Goldman a dime and tell them? If you don't think that happens, think again.

As far as the Muslims go, Muslims love capitalism. It sounds like this gent never heard of OPEC. The Muslims are serious investors who love capitalism. They do have constraints on how they wish to invest and within Shiria Law there are restrictions placed on investment activity, but those are managed. Screens are put in place on portfolios and mutual funds which disallow those investments and the construct of the porfolio/fund are reviewed on a regular basis by an Islamic oversight committee. Clearly, Muslims won't invest in a firm that deals with pork or alcohol. They also won't invest in any firm that makes money on interest, as usury violates the Koran. Thats makes it OK for them to buy Harley Davidson but not GE because GE has a financing arm, GE Capital and makes money lending money. Those restrictions are quite limited and the Muslims are extremely talented investors who seriously put their money to work.

This business is nonsense. This is a gent who wants his name in the paper or has another agenda. He is certainly not about solid analysis backed by facts and data

reply to post by apacheman


The blame has to go to the United States government just as much as it goes to Wall Street. By failing to properly regulate the market, enact anti-trust laws, and allowing executives tied to financial cartels to slither into prominent policy-making positions, it is clearly at fault. It was the government that created NAFTA, it was the government that insists on the dollar being a global reserve currency, it was the government that engineered the bail-outs. As Adam Smith said in The Wealth of Nations:

Whenever the legislature attempts to regulate the differences between masters and their workmen, its counsellors are always the masters. When the regulation, therefore, is in favor of the workmen, it is always just and equitable; but it is sometimes otherwise when in favor of the masters.

Since Washington has given Wall Street the power to be the main regulatory body of itself, then the regulation is titled in favor of the masters. It is not just, and is not in favor of the working man. As capitalism requires a state for protection and promotion, the state is complicit in not providing the favorable conditions for the worker and is thus at large fault for the financial crisis.

Originally posted by CodeRed3D

Financial terrorism suspected in 2008 economic crash

www.washingtontimes.com

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.

....

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.

(visit the link for the full news article)

This is propaganda! Blame it on the countries they want to start a war with. Rally the sheep for another shock and awe.

S&F, Good Post!

reply to post by TheBandit795


I echo your sentiments.

It might be comforting to believe the system is benign...... but it is naive.

The supranational corporate financial cartel has been playing the world for fools for centuries.... they have no national allegiances, they never did.

The legacy of war, famine, and corruption they leave behind will be their own undoing.... assuming they don't find another way to make the world deaf, dumb, and blind besides fiat currency, 'fractional reserve lending' and a monopoly of control over interest rates.

Wasn't it Regan who started the de-regulation of US financial markets that was put in place by Roosevelt or someone "way back then"?

And of course prety much the whole of the US public bought into it - everyone who was speculating on Wall Street, with housing, all the people who bought houses with those mortgage holday things and/or with 100% or more mortgages relying up appreciation to pay it off.......all of them were in on it too.

Do you know anyone who did that? Did you tell them that they weer indulging in economic stupidu\ity? if you didnt' then you are part of eth problem too!

Just like me!

reply to post by Aloysius the Gaul


Actually it was Woodrow Wilson... he exchanged political influence for elite backing (he was only an academic - not a politician) to get elected... the deal was struck for the central reserve bank (and hence the IRS) before the votes were even counted.

(Remember, these were the days when it was purposefully decided that they were gonna call it the "Federal" reserve bank so people wouldn't suspect it was privately owned. And they literally bought up a dozen or so national newspapers to make sure the ruse worked. Thank you Rockefeller)

He allegedly regretted the deal afterwards, when he realized he gave the keys to the kingdom to the same evil fools who have been manipulating national fates for decades (if not longer). But needless to say, by then it was way too late.

I guess the "blame the teachers, the unions", isn't going so well??
They seem to be getting desparate, they keep propping up different groups to divert the angry people, and they seem to be getting refuted rather quickly. ya, now lets blame the other countries that we have ripped off!! that might work...

as far as where the money went....did the money ever exist???
I mean with a stroke of a pen, the value of the house was increased by a few tens of thousands of dollars,....and sold...then a derivitive was created from the mortgage, it's value exagerated, and that was sold.....sometimes, more than once....

all the wealth was fictictious...so, well, did the money ever exist anywhere other than within a group of rich investors and financial institutions balance sheets?

blame the terrorists, but don't looks this way as we cut funding to those agencies that are responsible for overseeing wall street!!

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