Terrorists and other 'financial enemies' were likely responsible for the near collapse of the U.S. financial system in 2008, a new Pentagon report has concluded.
The 2009 report, Economic Warfare: Risks and Responses, said financial terrorism by Jihadists or countries such as China may have cost the global economy $50 trillion in a series of co-ordinated strikes against the U.S. economy.
In an astonishing conclusion, the report claims two unidentified traders deliberately devalued trillions of dollars' worth of stocks at the height of the crisis.
The report also concludes that untraceable actors undertook a three-tiered attack beginning in 2007, and that 'Phase III [of the attack] may be under way right now.'
'In addition, these same actors have clearly demonstrated the means to carry out such an attack.
'There is sufficient justification to question whether outside forces triggered, capitalised upon or magnified the economic difficulties of 2008.'
The report concluded that: 'Without question, there were actors who had the motive to harm the U.S. economy.
The report was commissioned in early 2009 by the Pentagon's Irregular Warfare Support Program - which prepares U.S. government and military agencies for emerging non-traditional threats.
Its author, economic analyst Kevin Freeman, published it in June 2009 before passing it on to investigators at the Financial Crisis Inquiry Commission in November 2010.
Although never classified, sources indicated that the report emerged only after concerned Congressmen and Defence Department officials highlighted its existence to media sources.
Speaking to MailOnline, a source close to the report added: 'It is my understanding that people in the DoD and government officials thought this should be brought to public attention.'
Speaking to the Washington Post, Mr Freeman said that American security forces needed to address vulnerabilities in the U.S. financial system.
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.
'This is the equivalent of box cutters on an air plane.'
When asked who he thought may be responsible for the attacks, Mr. Freeman added: 'Unfortunately, the two major strategic threats, radical jihadists and the Chinese, are among the best positioned in the economic battle space.' ...
via Pentagon reveal financial terrorists may have triggered economic crash | Mail Online.
I thought the housing crash caused it.