Kevin Freeman: Terrorists, Nations Plot Attack to Doom Dollar

Tuesday, 20 Mar 2012 01:21 PM

By Forrest Jones and Kathleen Walter

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Terrorist organizations and sovereign governments have attacked the U.S. financial system in the past and may do it again to destroy the U.S. dollar's status as global reserve currency, says author Kevin Freeman.

Sovereign wealth funds and even terrorist groups make trades using complex and often opaque strategies with tools like credit defaults and naked short selling to disrupt U.S. markets.

"There are a number of groups that want to see the dollar removed as the reserve currency of the world. These include major players like Brazil, Russia, India and China, but it also includes the sovereign wealth funds in the Middle East and it includes some terrorist groups," Freeman told Newsmax.TV in an exclusive interview.

Story continues below video.



"We've seen evidence of a terrorist attack being planned to remove the dollar as a reserve status, and the implications for that are severe. They could really harm our economy," said Freeman, CEO of Freeman Global Holdings and author of "Secret Weapon: How Economic Terrorism Brought Down the U.S. Stock Market and Why it Can Happen Again."

Editor’s note: To order 'Secret Weapon' at a great price — Click Here Now.

Such financial attacks hit around Sept. 11, 2008, just prior to the collapse of Lehman Brothers and part of a possible plan to boost Barack Obama's chances of winning the White House, which hostile elements viewed as the more preferred candidate at the time.

That's probably why the government doesn't want to go after threats to the financial system more aggressively, says Freeman, who says he has brought his evidence to intelligence, security and law enforcement agencies.

"I was shocked when I brought forth this information that I wasn't called by seven agencies to come in and tell us what you know. They are not doing anything, that I can tell, to protect us from these attacks," he says.

Perhaps the administration doesn't want to create a panic or appear the favored party among the country's enemies.

"If you recognize that in 2008 our stock market was purposely attacked and that was part of the crash if not the trigger point for the crash, and it happened on Sept. 11, 2008, right before the election, when people start to wonder, was this purpose to put Barack Obama in the White House — I have not made those claims, but I have been told by administration officials that they are very afraid of the American people coming to that conclusion."

According to Freeman, terrorist mastermind Osama bin Laden had materials in his possession outlining strategies to damage the European economy and later that of the U.S. at the time of his capture and assassination.

"It was using George Soros-style techniques to bring down the financial markets and to destroy the currency," Freeman says, referring to the legendary financier who broke the Bank of England trading against the pound in 1992.

"The implications are we become Greece much quicker than naturally would because of a terrorist attack."

Proper use of financial regulation could help.

Too many regulations slapped on the economy are hampering small businesses and hiring, while trading in complex credit derivatives left unchecked put the country at risk in the first place.

"I think we need to de-regulate small businesses as much possible, but if we see instruments like financial weapons of mass destruction, as described by Warren Buffett them referencing credit default swaps, those need some level of regulation," Freeman says.

"I was talking to some conservative economists, and even they feel we went too far repealing Glass-Steagall," Freeman says, referring to repealing legislation that separated commercial and investment banking.

Current regulation like the Dodd-Frank financial reform won't work either but rather, coordinated efforts from financial oversight bodies with security and intelligence agencies to protect the vast U.S. financial system are needed.

After all, it doesn't take much to reveal weaknesses in the system.

"When we had a flash crash on May 6, 2010, and the Dow dropped 900 points in six minutes, that's indicative of the vulnerability. There are enemies in the United States that recognize that vulnerability and want to take advantage of it and are pursuing it," Freeman says.

"Just like we are protecting ourselves from cyber threats, we need to protect ourselves from financial attack, and that's the central message."

Editor’s note: To order 'Secret Weapon' at a great price — Click Here Now.

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