Thursday, August 16, 2012
Book Review - Secret Weapon by Kevin Freeman
I have another nonfiction book review to share with you.This book really scared me. But I also found it very thought-provoking.
Secret Weapon: How Economic Terrorism Brought Down the U.S. Stock Market and Why It Can Happen Again by Kevin Freeman was very enlightening into the workings of Wall Street and how stocks are bought and sold. I never thought I'd find a book about finance interesting enough for me to read completely through, but I did.
I learned what hedge funds, short-sells and naked short-sells are. I learned about bear raids, currency and debt manipulation, and sovereign wealth funds. I learned about the "uptick rule" Congress passed in 1938 and how after passing that rule the market never again fell below 1937 lows. Freeman explained the housing bubble in 2007 and how Fannie and Freddie played a part. And I learned about the sad state of our national debt (talk about scary). I also learned how financial markets have been manipulated during wartime (Did you know that the Germans were counterfeiting the English pound and flooding their market during WWII?).
I was like a sponge as I read how Freeman found evidence, motive, means and opportunity for foreign enemies to nearly push our economy over the brink.
This book has over forty-two pages of footnotes that support his claims. What I found most shocking is that after he finished his report that the government asked him to do, they have done nearly nothing to prevent this from happening again.
Kevin Freeman has a long list of credits to his name: CEO of Freeman Global Investment Counsel, he wrote a business plan for Sir John Templeton and was hand-picked to build the Templeton Private Client group. He's one of the world's leading experts on economic warfare and financial terrorism. If you would like to learn more about Freeman and his book go to www.secretweapon.t.v.
I know this was a very heavy subject, and I don't usually go there, but nonfiction books tend to be that way. I'm hopeful to do a review on Bonhoeffer: Pastor, Martyr, Prophet, Spy by Eric Metaxas next month. It's about a very courageous man who stood up for what he believed during a very dark time in history.
On a lighter note, on September 28th I'll have a special guest on my blog. author Jody Hedlund will be here to talk about her new book, Unending Devotion.
Now I have a question for you. What books (nonfiction or fiction) have you read this summer?
I bought my copy of Secret Weapon by Kevin Freeman and shared it with you because I thought it was an important read you might want to check out.
Posted by Kathi Oram Peterson at 9:05 AM