‘Catastrophic’: Hedge fund billionaire Paul Singer warns of EMP
By Aaron Dykes
July 30, 2014
Imminent: ‘Only a matter of time’ until entire electric grid destroyed by natural or man-made event…
Billionaire hedge fund manager Paul Singer is warning investors – and more broadly, lawmakers and leaders – about the potential destructive power of an electromagnetic pulse, or EMP, which could be triggered by solar events or artificially, via blasts in the atmosphere.
According to Singer, research shows that no other incident, including a nuclear bomb, has the potential for such wide-scale devastation, coupled with the relative likelihood of occurring. While a nuke would primarily impact on the location of a such (such a city), an EMP could occur globally or across large-scale regions, wreaking havoc on the entire electric grid and devices.
“(A natural EMP event) today would cause a massive disruption to the electric grid, possibly shutting it down entirely for months or longer, with unimaginable consequences,” Singer wrote. “Only two years ago, the sun let loose with a Carrington-magnitude burst, but the position of the earth at the time prevented the burst from hitting it. The chances of additional events of such magnitude may be far greater than most people think.”
“It would not cause any blast or radiation damage, but such an attack would have consequences even more catastrophic than a severe solar storm. It could not only bring down the grid, but also lay down a very intense, very fast pulse across the continent, damaging or destroying electronic switches, devices, computers and transformers across America,” the letter said.
Members of Congress and other officials based in Washington have previously conferred on the threats rendered by an EMP, with Rep. Yvette Clarke (D-NY) – a senior figure in the House Homeland Security Committee – warning that “The Likelihood of a severe geo-magnetic event capable of crippling our electric grid is 100%.“