It should be noted that Freeman doesn’t claim that outside forces were responsible for the major factors of the economic crisis, namely the subprime mortgage fiasco, but that these outside forces might have intentionally helped things along. The report identifies three key stages in this possible economic attack:
- The first phase was a speculative run-up in oil prices that generated as much as $2 trillion of excess wealth for oil-producing nations, filling the coffers of Sovereign Wealth Funds, especially those that follow Shariah Compliant Finance.
- The second phase appears to have begun in 2008 with a series of bear raids targeting U.S. financial services firms that appeared to be systemically significant.
- The risk of a Phase Three has quickly emerged, suggesting a potential direct economic attack on the U.S. Treasury and U.S. dollar.
Financial terrorism suspected in 2008 economic crash - Bill Gertz
“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.
Economic Warfare: Risks and Responses - Kevin D. Freeman
A number of potential causative factors exist, including sub-prime real estate loans, a housing bubble, excessive leverage, and a failed regulatory system. Beyond these, however, the risks of financial terrorism and/or economic warfare also must be considered. The stakes are simply too high for these potential triggers to be ignored.
Cramer: Feels Like Financial Terrorism - Jim Cramer
My conclusion: I believe that fear can destroy many stocks, but this selling feels motivational and not done by those who sell short stocks as a way of living. I sure would like to be able to see who is selling these stocks in order to take financial terrorism off the table.
