According to a 2009 government report commissioned by the Defense Department, Kevin Freeman, the pentagon contractor who wrote the report, says that outside forces coordinated to take what was thought to be a normal downturn into a 50 trillion dollar cash drain from the global economy. Freeman goes on to say that the job is not done yet, and that a massive effort to destroy the U.S. Dollar is the "end game" if the goal is truly to destroy America.
Now many have come out to call Freeman's claims ridiculous and wrong-headed, but can you so easily dismiss his report as such? Many agencies and financial institutions are defending themselves from hundreds of hacking attempts each day. Many times, online retailers have customer information stolen off their servers at an alarming rate.
The attack, according to the report, was in three parts. First was the intentional rise in oil prices in 2007 that generated as much as 2 trillion dollars for oil nations.
The second phase was that undetectable traders attacked the financial institutions such as Bear Sterns and Lehman brothers, in what is described as a raid driving down the prices of their stocks through manipulation of news and complex trades.
The third phase is said to be the massive U.S. public debt that now threatens the position of the dollar as the reserve currency, something that is discussed by other nations around the world.
One of the problems is that we spend billions of dollars on the weapon systems for the military every year, but spend relatively little on protecting our electronic commerce and financial markets. It would appear that the threat is not being taken seriously as outside analysts insist that nobody wants to go there.
The main problem remains that after such an event does take place, you will not only have the incredible loss of money that may be associated with such an attack, but the loss of confidence in the system that has become the backbone of today's commerce, not to mention the financial markets themselves.
Either way, this is an issue that can be addressed now, while it is still in the early stages of becoming a major problem, or it can be addressed later when massive damage has already been done and fortunes are lost. I for one hope that this can be addressed now before we find our selves looking in the rear-view mirror.