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Secret Weapon: How Economic Terrorism Brought Down the U.S. Stock Market and Why It can Happen Again Hardcover – January 16, 2012
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Freeman explains persuasively and clearly why we may be beginning the third act of a monetary and fiscal tragedy. You don’t care about dark pools, huge Middle-Eastern sovereign wealth funds, naked short selling, and bear runs? I’m afraid you will, and rather soon.”
—R. James Woolsey, Chairman of the Foundation for Defense of Democracies and former Director of Central Intelligence
Every American needs to understand how our financial markets have been manipulated by people who want to destroy the nation and how they can do even greater damage in the future. This book is a critical read for everyone.”
—William G. Boykin, Lt. Gen. USA (ret), former Commander of U.S. Army Special Forces and founding member of Delta Force
Kevin Freeman’s alarming proposition on economic warfare merits attention from those at the highest levels entrusted with our nation’s security. It is incumbent on the U.S. intelligence and defense community, financial regulators, and those with advanced financial acumen to assess and address this modern security vulnerability. Warfare continues to evolve. As the United States remains vigilant against emerging threats, we must appreciate newfound challenges to longstanding assumptions about how our enemies could exploit our financial markets with potentially devastating consequences for our nation.”
—Congressman Bill Posey
Kevin Freeman has done an exceptional job working with open source financial data. This is a superb effort to expose extreme vulnerabilities to our financial system. With today’s international markets in such a fragile and volatile state, Freeman’s work deserves serious reflection. To do so would cost little. To dismiss it outright might cost us everything.”
—Thomas W. O’Connell, former Assistant Secretary of Defense (Special Operations) (2003-2007) and former member of the NASDAQ Public Board of Directors
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The book is about the 2008 financial crisis. It has been the topic of numerous books, documentaries, and now movies. Brad Pitt and others made a movie about it called The Big Shorts. The author's argument is very different than the rest of the books about the crash. This author lays out a pretty convincing argument that foreign powers used the tools of today's market to cause its downfall. The book is very well documented. These tools seem very complex. I had to reread pages to understand what he was talking about. The pages read almost like a legal brief. However everything he says minus the responsible powers is the same points others have made. Selling short, credit default swaps, lack of regulation of hedge funds, the housing crisis and other things caused the market to crash. Brad Pitt's movie mentioned the same things he talked about in this book. The difference is not the other party but terrorists. He even zeros in where the money came from. It was funneled in through two specific firms. Where they got the money he doesn't specify. The author points to either the Arabs, China, Russia, or both.
He lays out a pretty sound argument that crash was just a step in the road to our collapse. The next thing is an attempt to push the world economy away from the dollar and the stopping of purchasing of US debt. Both things would bring disaster to us. It would bring about high unemployment, high inflation, stoppage of various welfare programs, and skyrocketing interest rates like in the 70s.
They scary part of the book is the chapter in how he tries to convince people on what is going on. No one seemed to care what is going on, until the next economic crash. What makes it worse is that it could happen overnight, just like it did in 2008.
Can the U.S. weather another financial attack and where would it come from? Possibly, if we didn't have the massive 17T national debt. We have some powerful enemies like Russia, China, and the Jihadists who would love nothing better than to annihilate the U.S. The move to form the BRIC financial alliance to usurp the U.S. dollar as the global reserve currency with China, India, and Russia is a form of economic war that will make the U.S. dollar irrelevant.
I didn't realize that there was Sharia compliance banking or that it was so large. The book explains that redistribution of any economic gains depends on who the money was taken from and how it was taken. If the money is taken from non-muslims by force, the soldier keeps 4/5 of it and 1/5 goes to jihad, the poor, or scholars and judges. If the money is not forcefully taken (like taxes on non-muslims) then it all goes to the treasury. But if it is taken from non-muslims via theft or embezzlement, then the thief keeps all of it. So not only is there a whopping incentive to steal from the U.S., it is actively encouraged in their magazines. Even Bin Laden was much more interested in financial terrorism because no body got killed, it was much cheaper to wage an economic war, and they could cover their tracks so nobody could trace who took the money.
Ironically, a lot of the big banks like Citigroup, Mastercard, and Visa, have established Sharia compliant divisions where the U.S. money legally goes back into supporting economic terrorism. One of the big problems in 2008 was the malfeasance of the big banks. So they create the problem, get bailed out with U.S. tax payer money, which in turn goes to a bank like AIG that the books points out is substantially owned by Muslims. So it causes the problem, solves the problem, and continues to fund economic Jihad all at taxpayer expense. Sun Tzu would be proud to those who use U.S. money to destroy the U.S. economy while increasing their own global power with such silence and deception.
As bad as this may be, it is not to minimize China which is perhaps much more of a threat. We really need to demand economic accountability, rein in the deficit spending, and get rid of wall street practices that make us vulnerable as a nation.