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  1. #1
    Atomic Punk Wruff_ajax's Avatar
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    Default DoD: Financial terrorism suspected in 2008 economic crash

    Declassified DoD report detailing the belief that the meltdown of 2008 may have been the result of financial terrorism.


    The unclassified 2009 report “Economic Warfare: Risks and Responses” states that “a three-phased attack was planned and is in the process against the United States economy.”

    Phase One: Oil as a Weapon to Raise Capital [p15]

    Phase Two: Bear Raids on the Markets [p23]

    Phase Three: Collapse the Dollar, Bankrupt the Treasury (In progress) [p66]



    DoD report- Economic Warfare: Risks and Responses
    Document > http://www.scribd.com/doc/49755779/E...evin-D-Freeman





    Financial terrorism suspected in 2008 economic crash

    Evidence outlined in a Pentagon 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.”

    “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.

    “This is the ‘end game’ if the goal is to destroy America.”

    http://www.washingtontimes.com/news/...-crash/?page=1
    _-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_

  2. #2
    On Fire Eddie's Littler Monster's Avatar
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    Bullshit.

    Make up anything to deflect blame from financial institutions that actually caused the collapse so that the government can get some of the heat off of their own backs for not prosecuting those assholes on wall street.

  3. #3
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    Quote Originally Posted by Eddie's Littler Monster View Post
    Bullshit.

    Make up anything to deflect blame from financial institutions that actually caused the collapse so that the government can get some of the heat off of their own backs for not prosecuting those assholes on wall street.
    Exactly.

  4. #4
    Atomic Punk Wruff_ajax's Avatar
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    _-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_

  5. #5
    Forum Frontman It's Mike's Avatar
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    Quote Originally Posted by Eddie's Littler Monster View Post
    Bullshit.

    Make up anything to deflect blame from financial institutions that actually caused the collapse so that the government can get some of the heat off of their own backs for not prosecuting those assholes on wall street.
    that might be part of this.

    Sadly, the financial collapse had a lot more to do with the decisions of everyday citizens than it did with big bankers. People were living far beyond their means for a long time and the balloon bursting was bound to happen. The banks helped the process along, as did government, but regular people deserve most of the blame. Just because a bank offers to lend you a half million dollars doesn't mean you should do it.

  6. #6
    Sinner's Swing! Bullwinkle's Avatar
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    Terrorists made Americans greedy, short-sighted and stupid. Yeah, that's the ticket! Blame the terrorists!







    Don't read this.

  7. #7
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    11.03.17 @ 01:35 PM
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    Quote Originally Posted by It's Mike View Post
    that might be part of this.

    Sadly, the financial collapse had a lot more to do with the decisions of everyday citizens than it did with big bankers. People were living far beyond their means for a long time and the balloon bursting was bound to happen. The banks helped the process along, as did government, but regular people deserve most of the blame. Just because a bank offers to lend you a half million dollars doesn't mean you should do it.
    I'll go along with most of that, but if banks don't lend more than what someone is qualified to pay back, the problem is eliminated.
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  8. #8
    Forum Frontman It's Mike's Avatar
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    Quote Originally Posted by VanHalenRules View Post
    I'll go along with most of that, but if banks don't lend more than what someone is qualified to pay back, the problem is eliminated.
    this is true.

    I'm just a big personal responsbility guy. Sadly, up here what was happening was that people were finding ways around rules on lending. Prior to me buying a home the rule was someone had to have 25% of the home value to qualify for a mortgage and that the amortization couldn't be more than 25 years. Then people found ways around this by taking out personal loans for most of the 25% to get around it. The govt realized this and changed the rules to 5% and 40 year amortization. A few years later, they've come to their senses and are started to change them back - I believe on March 1st it change to 30 year amortization.

    When I got married, we didn't have 25% down (not that we needed it to qualify) so we moved in with my parents for a while until we did (we were there about 8 months - just enough time to get everything in order financially and find an ideal home). Everyone I work with wouldn't have thought of doing such a thing. I got the "don't you feel bad doing that?" line from a number of people and the "you should have just bought a place" and "my kids are gonna be out of the house at 18 just like me". Fast forward 6 years and the same people ask "how did pay cash for your van when you had the twins?". The answer is simple, we didn't rush into bad financial decisions. More people should be so careful in their decisions.

    People make bad decisions from the start - no one saves money for school anymore with part time jobs in high school - they buy crap instead. So they come out of school with debt coming out of their ass that never gets paid for. They then buy a car they can't afford and a home they can't afford. And this will get worse, as these same people are having kids they can't afford who will do the same (if not worse). Most people don't save for their kids schooling so the cycle will just repeat over and over again.

    PS - damn I'm negative today.

  9. #9
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    11.03.17 @ 01:35 PM
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    Quote Originally Posted by It's Mike View Post
    this is true.

    I'm just a big personal responsbility guy. Sadly, up here what was happening was that people were finding ways around rules on lending. Prior to me buying a home the rule was someone had to have 25% of the home value to qualify for a mortgage and that the amortization couldn't be more than 25 years. Then people found ways around this by taking out personal loans for most of the 25% to get around it. The govt realized this and changed the rules to 5% and 40 year amortization. A few years later, they've come to their senses and are started to change them back - I believe on March 1st it change to 30 year amortization.

    When I got married, we didn't have 25% down (not that we needed it to qualify) so we moved in with my parents for a while until we did (we were there about 8 months - just enough time to get everything in order financially and find an ideal home). Everyone I work with wouldn't have thought of doing such a thing. I got the "don't you feel bad doing that?" line from a number of people and the "you should have just bought a place" and "my kids are gonna be out of the house at 18 just like me". Fast forward 6 years and the same people ask "how did pay cash for your van when you had the twins?". The answer is simple, we didn't rush into bad financial decisions. More people should be so careful in their decisions.

    People make bad decisions from the start - no one saves money for school anymore with part time jobs in high school - they buy crap instead. So they come out of school with debt coming out of their ass that never gets paid for. They then buy a car they can't afford and a home they can't afford. And this will get worse, as these same people are having kids they can't afford who will do the same (if not worse). Most people don't save for their kids schooling so the cycle will just repeat over and over again.

    PS - damn I'm negative today.
    I agree, but the problem is that the average person probably doesn't know squat about what they should or should not qualify for in a home loan. Deregulation down here shot a lot of people and institutions in the foot.

    With having my oldest son in college now, it drove home how bad things still are...I have an agreement with him that so long as he keeps his GPA up, he does not have to work, but to get a free t-shirt at school, he filled out a credit card app....and he got one in the mail with a $7500 limit even though he has NO job.

    And yes, I had him close the account.
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  10. #10
    Forum Frontman It's Mike's Avatar
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    Quote Originally Posted by VanHalenRules View Post
    I agree, but the problem is that the average person probably doesn't know squat about what they should or should not qualify for in a home loan. Deregulation down here shot a lot of people and institutions in the foot.

    With having my oldest son in college now, it drove home how bad things still are...I have an agreement with him that so long as he keeps his GPA up, he does not have to work, but to get a free t-shirt at school, he filled out a credit card app....and he got one in the mail with a $7500 limit even though he has NO job.

    And yes, I had him close the account.
    same issue we have here with schools. The institutions would be well served to not have these people allowed on campus.

    What's amazing is that when i starterd school (1993) - I had to have my first credit card guaranteed (had to have a GIC frozen basically for the credit limit amount). And that credit card had a 500 dollar balance and I probably had about $10,000 is personal savings. Nowadays they'll give anyone with a pulse a 5 grand limit.

  11. #11
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    Quote Originally Posted by It's Mike View Post
    same issue we have here with schools. The institutions would be well served to not have these people allowed on campus.
    And naturally they have girls in short-shorts waving the guys in to sign up.


    Quote Originally Posted by It's Mike View Post
    What's amazing is that when i starterd school (1993) - I had to have my first credit card guaranteed (had to have a GIC frozen basically for the credit limit amount). And that credit card had a 500 dollar balance and I probably had about $10,000 is personal savings. Nowadays they'll give anyone with a pulse a 5 grand limit.
    I remember when I bought my first house in 92 that I used to literally drive my boss nuts because I would carry around my paychecks around in my wallet for weeks without cashing them because I had plenty of cash in my account.
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  12. #12
    Forum Frontman It's Mike's Avatar
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    Quote Originally Posted by VanHalenRules View Post
    And naturally they have girls in short-shorts waving the guys in to sign up.




    I remember when I bought my first house in 92 that I used to literally drive my boss nuts because I would carry around my paychecks around in my wallet for weeks without cashing them because I had plenty of cash in my account.

    I think that's one of the biggest failing of today's parents. not teaching kids about money.

  13. #13
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    Quote Originally Posted by It's Mike View Post
    I think that's one of the biggest failing of today's parents. not teaching kids about money.
    And more specifically, the difference between a credit card and a debit card. Seems the world is essentially cashless for the most part anymore, and the kid sees a parent whip out plastic to pay...but they need to know that one is borrowing money and the other is using money you already have.
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  14. #14
    Forum Frontman It's Mike's Avatar
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    Quote Originally Posted by VanHalenRules View Post
    And more specifically, the difference between a credit card and a debit card. Seems the world is essentially cashless for the most part anymore, and the kid sees a parent whip out plastic to pay...but they need to know that one is borrowing money and the other is using money you already have.
    i often say that people use credit cards like gift cards with limitless balances.

  15. #15
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    Quote Originally Posted by It's Mike View Post
    i often say that people use credit cards like gift cards with limitless balances.
    My oldest knows better...he has a reloadable Visa card and keeps track of what he spends. He can tell you down to the penny what he has on it, too.
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