re: Revisiting the 2008 housing crash

The Pentagon report states that the evidence of financial subversion revealed that the first two phases of an attack on the U.S. economy took place from 2007 to 2009 and “based on recent global market activity, it appears that the predicted Phase III may be underway right now.”

The report states that federal authorities must further investigate two significant events in the months leading up to the financial crisis.

The first phase of the economic attack, the report said, was the escalation of oil prices by speculators from 2007 to mid-2008 that coincided with the housing finance crisis.

In the second phase, the stock market collapsed by what the report called a “bear raid” from unidentified sources on Bear Stearns, Lehman Brothers and other Wall Street firms.

“This produced a complete collapse in credit availability and almost started a global depression,” Mr. Freeman said.

The third phase is what Mr. Freeman states in the report was the main source of the economic system’s vulnerability. “We have taken on massive public debt as the government was the only party who could access capital markets in late 2008 and early 2009,” he said, placing the U.S. dollar’s global reserve currency status at grave risk.

“This is the ‘end game’ if the goal is to destroy America,” Mr. Freeman said, noting that in his view China’s military “has been advocating the potential for an economic attack on the U.S. for 12 years or longer as evidenced by the publication of the book Unrestricted Warfare in 1999.”

Food for thought

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2007 $64.20 $78.13
2008 $91.48 $107.05
2009 $53.48 $62.90
2019 (partial) $46.35 $46.25