Best of the Week
Most Popular
1.War on Cash, Bank of England Planning Hyper QE, Scrapping Cash for Digital Currency - Nadeem_Walayat
2.Stock Market End Run Smash Crash Looks Imminent... - Clive_Maund
3.Europe Refugee Crisis, UK to Repatriate 120,000 Hungarian Economic Migrants Back to Hungary - Nadeem_Walayat
4.The Great Deflation Will Destroy All Bubbles – These Too - Harry_Dent
5.Deflation Signals Abound for U.S. Dollar, Forex Markets and Commodities - Rambus_Chartology
6.U.S. Housing Market Two Outs in The Bottom of The Ninth - James_Quinn
7.Poland, Czech, Slovakia and Hungary Refugee Hypocrisy After Flooding UK with 4 Million Economic Migrants - Nadeem_Walayat
8.The Two Real Reasons Crude Oil Prices Are Currently Slipping - Dr. Kent Moors
9.R.I.P. Interest Rates - Andrew Snyder
10.Steps from a Deep October Stock Market Selloff - Bob_Loukas
Last 5 days
A Key Oil Price Trend That Everyone Is Missing - 6th Oct 15
Stock Market Turn Appears to Have Been Made - 6th Oct 15
Designing a Dividend Growth Portfolio for a Specific Retirement Yield Objective - 6th Oct 15
Peter Schiff Predicts Gold Price Breakout - Video - 6th Oct 15
Theresa May Declares War on Immigration - Conference Speech Full Transcript - 6th Oct 15
Is Russia Plotting To Bring Down OPEC? - 6th Oct 15
Target Date Funds As Aid In Retirement Investment Portfolio Design - 6th Oct 15
Stocks Bear Market Apocalypse Imminent Crash Gets Nuked Again - 6th Oct 15
Redesigning Internet and Facebook to Explore Their Full Potentialities... - 5th Oct 15
Nightshades Curb Your Enthusiasm - 5th Oct 15
U.S. Recession Watch, High-Yield – Rising Defaults - 5th Oct 15
The Social Challenge to Find Humanity in Capitalism - 5th Oct 15
Fed Interest Rate Hike: "I don't care. It doesn't really make much of a difference" - 5th Oct 15
Gold Rose 2.2%, Silver Surged 5.4% After Poor Jobs Number On Friday - 5th Oct 15
Gold, Silver Precious Metals: a Critical Week Ahead - 5th Oct 15
Stock Market Correction Still in Force - 5th Oct 15
Gold Price Change in Character - 5th Oct 15
Putin’s Blitz Leaves Washington Rankled and Confused - 4th Oct 15
More Selling for Stock Market, Gold? - 4th Oct 15
Gold And Silver – A Reality Check - 3rd Oct 15
Stock Market Primary IV Still, or Primary V Underway? - 3rd Oct 15
The Oil Industry’s Day of Reckoning - 3rd Oct 15
U.S. Interest Rate Hikes Keep On Slippin' Into the Future; Treasury Yields Sink Again - 3rd Oct 15
China's Stock Market Crashing; Time for Panic or Restraint - 3rd Oct 15
SPX Stocks Bulls Struggle to Regain the Upper hand... - 2nd Oct 15
The Two Faces of Stock Market Volatility - 2nd Oct 15
Money Supply and the Fed’s Serious Inflation Risks - 2nd Oct 15
Stock Market How Bad Can This Get, And How Fast? - 2nd Oct 15
A Worrying Set Of Recession Signals - 2nd Oct 15
Negative Jobs Report Sents SPX, TNX Lower - 2nd Oct 15
Don't be Fooled by the Recent Equity market Rallies. Its a Bear Market, Stupid! - 2nd Oct 15
US Bond Market - How to Fix This - 2nd Oct 15
Survival Secrets from Colorado Resource Investing Front Lines - 2nd Oct 15
What Two Risks From Rising Interest-Rates Could Each Trigger A New Global Crisis? - 1st Oct 15
Stock Market S&P 500 Volatility-Based Price Probability Range - 1st Oct 15
Dow Stock Market About To Crash Like October 1929? Get Your Physical Silver - 1st Oct 15
Stock Market Negative Expectations Once Again - Will It Break Down? - 1st Oct 15
Advice for Biotech Investors: 'Hold Your Powder' 'til Winter - 1st Oct 15
Best Short-Term Commodity Market Opportunities - Video - 1st Oct 15

Free Instant Analysis

Free Instant Technical Analysis

Market Oracle FREE Newsletter

The Economic Terror of 9/11 and What Really Happened

Politics / US Politics Sep 11, 2011 - 02:54 PM GMT

By: Jeff_Berwick


Best Financial Markets Analysis ArticleLast month we marked the 40th anniversary of the Federal Reserve Note being a completely unbacked fiat currency. This month marks another major event in the demise of the US dollar, September the 11th.

While we've been on a one way road to monetary ruin since at least 1913 the response to the events of September 11, 2001 have greatly accelerated the process.

On September 11, 2001, the total US Federal Government debt was $5,773,172,068,291.89 ($5.77 trillion). Today, on September 11, 2011, the total debt is $14,685,550,385,913.19 ($14.68 trillion). A 154% increase in total treasury debt in only the span of a decade.

If you believe in the Keynesian economics fallacy that government debt, disasters and destruction are good for the economy, September 11th came at a good time. The Dow Jones Industrial had been falling dramatically from its peak on January 14, 2000 of 11,722.98 to 9,605.51 on September 10th - down 2,117 from the 2000 high.

The NYSE re-opened on September 17th, 2001, and closed down 684.41 to 8920.70.

The events of September 11th included the destruction or loss of four aircraft ($385 million) and three buildings (WTC 1, 2 and 7) ($4.5 billion) - and damage to a government building - the Pentagon ($1 billion). Clearly there were other costs but these are the main damage costs. A total of about $6 billion (at today's current deficit levels, this $6 billion is borrowed by the US Government every two days).

In response, the US Government attacked Afghanistan (a country that asked that the US show proof of Osama bin Ladens involvement before handing him over) and then attacked Iraq (a country with no involvement in 9/11). According to, the total spending on those occupations have now reached $2.3 to $2.7 trillion.

On March 16, 2003, a week before the US attack on Iraq, Dick Cheney appeared on Meet the Press and stated, "every analysis said this war itself would cost about $80 billion."

Donald Rumsfeld also stated, before the attack, that "it could last six days, six weeks. I doubt six months."

The Iraq occupation has now gone on for 3,085 days. 514 times longer than Rumsfeld's short-term forcast, 73 times longer than his mid-term and 17 times longer than his longest prediction.

Pretty close for government work, as they say.

"...over 25 million Iraqis now live in freedom." - George W. Bush

The human costs are similar. 2,996 people died from the attacks on 9/11. Subsequently, in the Iraq and Afghanistan wars, 919,967 people - none of whom had any connection to the events of 9/11 - have been killed, according to the calculations at Unknown News. That is 307 times more than were killed on 9/11. The deaths continue to this day.

By 2008, much as prefaced the 1971 default due to the massive costs for the Vietnam War - the cumulative government expenditures in the Iraq and Afghanistan occupations and post 9/11 government expenditures finally threatened the entire financial system.

Unlike in 1933 and again in 1971, the US government default is not so clearly evident. Indeed, this time there was no shame. The world applauded the government's choice to heavily inflate and bailout hundreds of banks around the globe to avert The End Of The Monetary System As We Know It (TEOTMSAWKI).

Since then the Federal Reserve has had to monetize US Government Treasuries on two separate occassions and continues to do so to this day to forestall TEOTMSAWKI.

Yet, bending the boundaries of belief, the US has since attacked another country, Libya. Again, for no explicable reason. Here is Barack Obama giving his estimate of the length of time they will be engaged in Libya on May 18, 2011.

If you can't bear to watch, he stated, "We anticipate this transition to take place in a matter of days, and not a matter of weeks."

That was 167 days or 23 weeks ago.


The economic and political (freedom) costs of 9/11 are stark for everyone to see. Yet still, to this day, what really happened on that day remains mostly a mystery.

The official explanation from the US Government and parroted by mainstream media is so unlikely that it is the biggest conspiracy theory of them all. If you have always accepted the official story and never done your own research into what happened that day then I implore you to take some time to do so. Some say, "I don't want to know what really happened," fearing what they might discover.

To that I quote Ayn Rand who stated, "One can ignore reality, but one cannot ignore the consequences of ignoring reality".

If you are more scientifically minded and need to hear thousands of scientists and engineers who say that the official story is impossible, then check out this video from Architects and Engineers for 9/11 Truth called "Solving the Mystery of World Trade Center 7".

Architects & Engineers - Solving the Mystery of WTC 7 -

That will start you down the rabbit hole.

Or, for those who prefer to watch a documentary style production, still one of the best documentaries on what really happened that day is the documentary, Loose Change.

Loose Change Final Cut

Failure to understand what really happened that day will cause you to remain blinded to the ongoing lockdown of the US and, by extension, most of the western world. 9/11 was the start of a war but it was not the "war on terror", it was the war against the American people and their liberties by its own government.

The truth can be scary. But it will set you free.

Subscribe to TDV today (90 day moneyback guarantee) to access our Special Report on How to Own Gold as well as get complete access to our newsletter and portfolio selections.

The Dollar Vigilante is a free-market financial newsletter focused on covering all aspects of the ongoing financial collapse. The newsletter has news, information and analysis on investments for safety and for profit during the collapse including investments in gold, silver, energy and agriculture commodities and publicly traded stocks. As well, the newsletter covers other aspects including expatriation, both financially and physically and news and info on health, safety and other ways to survive the coming collapse of the US Dollar safely and comfortably. The Dollar Vigilante offers a free newsletter at

© 2011 Copyright Jeff Berwick - All Rights Reserved
Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

© 2005-2015 - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.

Post Comment

Only logged in users are allowed to post comments. Register/ Log in

Biggest Debt Bomb in History