Tuesday, March 1, 2011

Financial warfare from outside elements seen in 2008 collapse and continuing today. Obama admin., 'Nobody wants to go there.'

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Update, 3/2, UK Daily Mail has a few more details: "Did China or Jihadists try to bankrupt America? Pentagon report reveals financial terrorists may have triggered economic crash" ...
"Two mystery investors 'were number one traders in all financial companies that collapsed or are now financially supported by the U.S. government'"...

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A Pentagon study indicates as does common sense that organized economic warfare is in full swing (see European carbon markets). The Obama administration ignored evidence linked to 2008 economic crash, eschews its importance today, ("Nobody wants to go there") thereby ensuring open season on Americans.

2/28/11, "Financial terrorism suspected in ‘08 economic crash," Washington Times, Bill Gertz
  • "Pentagon study sees element"
"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

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.

In an interview with The Times, Mr. Freeman said his report provided enough theoretical evidence for an economic warfare attack that further forensic study was warranted.

  • “The new battle space is the economy,” he said.

We spend hundreds of billions of dollars on weapons systems each year. But a relatively small amount of money focused against our financial markets

  • through leveraged derivatives or cyber efforts can result

in trillions of dollars in losses. And, the perpetrators

  • can remain undiscovered.

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

Paul Bracken, a Yale University professor who has studied economic warfare, said he saw “no convincing evidence that ‘outside forces’ colluded to bring about the 2008 crisis.”

“There were outside players in the market” for unregulated credit default swaps, Mr. Bracken said in an e-mail. “Foreign banks and hedge funds play the shorts all the time too. But suggestions of an organized targeted attack for strategic reasons don’t seem to me to be plausible.”

Regardless of the report’s findings, U.S. officials and outside analysts said

are not aggressively studying the threats to the United States posed by

  • economic warfare and financial terrorism.

Nobody wants to go there,” one official said.

A copy of the report also was provided to the recently concluded Financial Crisis Inquiry Commission, but the commission also

Officials, who spoke on the condition of anonymity, said senior Pentagon policymakers, including Michael Vickers, an assistant defense secretary in charge of special operations, blocked further study, saying the Pentagon was

  • not the appropriate agency

to assess economic warfare and financial terrorism risks.

Mr. Vickers declined to be interviewed but, through a spokesman, said he did not say economic warfare was not an area for the Pentagon to study, and that he did not block further study.

Mr. Vickers is awaiting Senate confirmation on his

  • promotion to be undersecretary of defense for intelligence.

Despite his skepticism of the report, Mr. Bracken agreed that financial warfare needs to be studied, and he noted that

We are in an era like the 1950s where technological innovation is transforming the tools of coercion and war,” he said. “We tend not to see this, and look at information warfare, financial warfare, precision strike, [weapons of mass destruction], etc. as separate silos. It’s their parallel co-evolution that leads to interesting options, like counter-elite targeting. And no one is really looking at this in an overall ‘systems’ way. Diplomacy is way behind here.”

Mr. Freeman wrote the report for the Pentagon’s Irregular Warfare Support Program, part of the Combating Terrorism Technical Support Office, which examines unconventional warfare scenarios.

“The preponderance of evidence that cannot be easily dismissed demands

  • a thorough and immediate study be commenced,” the report says.
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Obama isn't the only one who made it easy to rob the US blind. George Bush was responsible for the 2008 crisis. Regarding September 11, 2001, plenty of people knew about it before it happened (forgetting who they might be for the moment, the point is people did know and were in a position to benefit financially). Some say the 'SEC investigated,' but the SEC is completely incompetent and corrupt (eg Madoff, porn surfing). There is no excuse for Bush not pursuing and revealing relevant financial moves. ed.

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Reference: 12/8/10, "SEC porn peepers' names to be kept secret," Washington Times, Jim McElhatton


via Lucianne.com

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