Approximately two years ago I was commissioned to prepare a study identifying prospective vulnerabilities in our financial markets that might be exploited as a matter of financial terrorism and/or economic warfare. In particular, the question was whether or not our normal market mechanisms could be used to destabilize the markets in such a manner as to create economic havoc.
Discouragingly, the study concluded that not only were markets vulnerable but also such nefarious activity quite plausibly could have played a significant part in the 2008 collapse. This is significant because the market meltdown, according to nearly all observers, came perilously close to bringing about a new Great Depression. At the very least, the collapse and subsequent response has changed the global economic landscape in some very permanent ways.
The study has been shared with and reviewed by key elements both inside and outside the government including defense, intelligence and investigative agencies, leaders in Congress and key regulators. Unfortunately, despite the seriousness of this issue, it appears that U.S. economic vulnerability is in many ways increasing. Nearly every day, additional supportive information emerges that validate the concerns. The purpose of this blog will be to share unclassified information from the study as well as to provide a permanent location for postings of additional information.
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