Skip to comments.Wall Street oblivious to cyber-economic warfare --danger facing America's financial system
Posted on 01/12/2014 7:36:12 AM PST by dennisw
On Dec. 15, Gen. Keith Alexander, the head of the National Security Agency, told 60 Minutes, A foreign national could impact and destroy a major portion of our financial system and literally take down the U.S. economy.
Another NSA official, Deborah Plunkett, told CBS, Dont be fooled. There are absolutely nation-states who have the capability and the intention to accomplish the kind of attack Gen. Alexander warned about.
Our intelligence agencies have ample indications that parties in Russia, China and elsewhere have plans in place for financial warfare by cyber and other means against our economy. I wrote a report for the Pentagons Irregular Warfare Support Group in 2009 outlining this threat and have provided follow-up reports to the Defense Intelligence Agency, the FBI and multiple other agencies. These things are clear:
Foreign nations and certain terror groups can and do have the capability of conducting financial warfare against our economy. We do not have a comprehensive deterrent to prevent such attacks. Under the right circumstances, such an attack could destroy our economy and therefore our way of life.
Wall Street either doesnt believe Alexanders warning or is simply oblivious to these national security issues. The threat, however, is well-documented.
In 2008, during the midst of the financial crisis, the Russians dumped their U.S. bond holdings in Fannie Mae and Freddie Mac and encouraged China to do the same. Former Treasury Secretary Henry Paulson admitted in his memoirs, On the Brink, that this was a disruptive scheme aimed to take down our economy. Fortunately, China didnt go along, and our markets have recovered. But theres no doubt that they considered it carefully. Had China pulled the trigger, the effect would have been devastating. Chinese holdings of U.S. government agency paper were around $450 billion at the time.
(Excerpt) Read more at wnd.com ...
Why should Wall Street care about anything? The US citizenry has made it clear that Wall Street is the enemy and as a result, Wall Street likely is indifferent to the economic condition to the US.
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