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What Happens if Banks Crash

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posted on Feb, 28 2022 @ 09:41 AM
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a reply to: JAGStorm

I'm not sure if this will help at all, but for what it's worth:
If the banking goes down US wide, and the entire public panics, how you pay your bills will instantly fade away from your worries.

You had better hope you are in good standing with your local community, have some important things stockpiled, and can prioritize what's truly important. All the silly things will sort themselves out.



posted on Feb, 28 2022 @ 09:42 AM
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originally posted by: JAGStorm
a reply to: AugustusMasonicus




At the consumer level, you would be right, security is more an illusion than real. At the corporate level, it's better than you might think. The approach to security is wholly different at that level.


I worked in IT we hired ethical hackers. It made me realize there is no security.
We are talking a giant, one of the largest companies on earth type of companies with endless money for “security” type of place.


IT is a different level of security with inherent problems that come with what they have to allow. It's a never ending battle because of the nature of the infrastructure. The worlds largest banks don't have the same problems at the higher levels, so they can implement protocols that would never work in an IT environment.

Nothing is impervious, and they know it, that's why the approach to security is different than what you and I and others here on ATS have worked with.
edit on 2/28/2022 by Klassified because: redact unnecessary content.



posted on Feb, 28 2022 @ 09:43 AM
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a reply to: AugustusMasonicus




That's from 2014, do you not think that compelled them and the other banks to rethink their cyber roadmap in the past 7 years?


Just as they rethink their cyber roadmaps, the people trying to break in are thinking of how to break it.



posted on Feb, 28 2022 @ 09:47 AM
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a reply to: Klassified




It's hard to explain, and I can only say so much.

Nothing is impervious, and they know it, that's why the approach to security is different than what you and I and others here on ATS have worked with.


Nothing is impervious - That is the imporant takeaway. I'm not saying it would be easy or it would all go out like a light switch either. I used Texas as an example because it was a good one. Something as silly as a storm brought down the banking sytem.(for some banks) You have to keep in mind it was brought down even for those customers out of the affected area. That tells me they did not have a good plan, if an ice storm can do that.............



posted on Feb, 28 2022 @ 09:52 AM
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originally posted by: JAGStorm
a reply to: Klassified




It's hard to explain, and I can only say so much.

Nothing is impervious, and they know it, that's why the approach to security is different than what you and I and others here on ATS have worked with.


Nothing is impervious - That is the imporant takeaway. I'm not saying it would be easy or it would all go out like a light switch either. I used Texas as an example because it was a good one. Something as silly as a storm brought down the banking sytem.(for some banks) You have to keep in mind it was brought down even for those customers out of the affected area. That tells me they did not have a good plan, if an ice storm can do that.............

Their plan was fine for them. They suffered no ill effects. It just doesn't work for us, and honestly, they don't really care, which takes us back to your original OP. What happens when...

I think ND said it as well as it can be said in a nutshell. Your concerns are certainly valid.



posted on Feb, 28 2022 @ 09:54 AM
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a reply to: Klassified




If the banking goes down US wide, and the entire public panics, how you pay your bills will instantly fade away from your worries.


I don't see the whole entire world going down. I see something more like the Great Depression II
I don't think bills will fade, just money to pay said bills.



posted on Feb, 28 2022 @ 10:12 AM
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originally posted by: JAGStorm
a reply to: Klassified




If the banking goes down US wide, and the entire public panics, how you pay your bills will instantly fade away from your worries.


I don't see the whole entire world going down. I see something more like the Great Depression II
I don't think bills will fade, just money to pay said bills.


I would not be at all surprised to see another great depression or worse. I think it's inevitable if this country keeps moving in the present direction.



posted on Feb, 28 2022 @ 10:12 AM
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What Happens if Banks Crash


We can trade beads, mirrors and alcohol to the natives for meat and vegetables.



posted on Feb, 28 2022 @ 10:17 AM
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In order for there to be a new digital world currency ( which is automatically taxed world wide) The US Dollar has to go away, and it will. We need to put on an act first, so we can place the blame elsewhere.

What will happen when the Dollar falls apart? First chaos, then order. They will have the fix for you, in about two shakes of a lambs tail, just like with the special injections.



posted on Feb, 28 2022 @ 10:21 AM
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a reply to: Klassified




I would not be at all surprised to see another great depression or worse. I think it's inevitable if this country keeps moving in the present direction.


It will be called the Greater Depression, or The Great Depression II

I just read up on Russia and they are going through it right this minute....

apnews.com...



Russians wary that sanctions would deal a crippling blow to the economy have been flocking to banks and ATMs for days, with reports in social media of long lines and machines running out. People in some central European countries also rushed to pull money from subsidiaries of Russia’s state-owned Sberbank after it was hit with international sanctions.



posted on Feb, 28 2022 @ 10:37 AM
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originally posted by: JAGStorm
Just as they rethink their cyber roadmaps, the people trying to break in are thinking of how to break it.


No doubt, but proactive companies have budgets to address this and the major US banks and EMV are at the top of the list.



posted on Feb, 28 2022 @ 10:40 AM
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a reply to: AugustusMasonicus




No doubt, but proactive companies have budgets to address this and the major US banks and EMV are at the top of the list.


Are you the president for banking security, because if not, you should be! I almost.... almost believe what you are saying! 😜



posted on Feb, 28 2022 @ 10:43 AM
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originally posted by: JAGStorm
Are you the president for banking security, because if not, you should be! I almost.... almost believe what you are saying! 😜


I work for a company that is intimately tied to both the payments and cyber portions of banking across the world, my team handles a large part of the solutions from a sales perspective. Networkdude knows who I work for, I'm not going to post it since it would be too easy to track down my real name.



posted on Feb, 28 2022 @ 10:46 AM
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Would it be safer moving it to a Vanguard account? I know Vanguard/blackrock, but the options seem pretty limited



posted on Feb, 28 2022 @ 10:49 AM
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originally posted by: ancientlight
Would it be safer moving it to a Vanguard account? I know Vanguard/blackrock, but the options seem pretty limited


No one should have large sums of money in a checking/savings account, it's nearly an interest free loan for the bank.



posted on Feb, 28 2022 @ 10:54 AM
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a reply to: AugustusMasonicus




I work for a company that is intimately tied to both the payments and cyber portions of banking across the world, my team handles a large part of the solutions from a sales perspective. Networkdude knows who I work for, I'm not going to post it since it would be too easy to track down my real name.


LOL... sounds like we are in the same circle...👁‍🗨

Are you orange or green?

edit on 28-2-2022 by JAGStorm because: (no reason given)



posted on Feb, 28 2022 @ 10:56 AM
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a reply to: AugustusMasonicus




No one should have large sums of money in a checking/savings account, it's nearly an interest free loan for the bank.


Tell that to the Russians trying to take money out..
What do you think is going to happen to their money that's not in the checking/savings accounts?



posted on Feb, 28 2022 @ 10:56 AM
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originally posted by: JAGStorm
a reply to: AugustusMasonicus




That's from 2014, do you not think that compelled them and the other banks to rethink their cyber roadmap in the past 7 years?


Just as they rethink their cyber roadmaps, the people trying to break in are thinking of how to break it.


Data is also backed via physical and digital redundant online and offline methods.
SHTF, you will be down a day maybe and walla transactions and accounts restored.


I'm more worried about a banking crash due to global economic measures or the banks themselves stealing the money labeling the people terrorist for being anti facebook post , lol
edit on 59228America/ChicagoMon, 28 Feb 2022 10:59:25 -0600000000p2842 by interupt42 because: (no reason given)



posted on Feb, 28 2022 @ 10:56 AM
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originally posted by: JAGStorm
LOL... sounds like we are in the same circle...👁‍🗨


I'm leaning towards we're not, the company I work for is very unique, we don't have competition in the traditional sense.



posted on Feb, 28 2022 @ 10:58 AM
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originally posted by: JAGStorm
Tell that to the Russians trying to take money out..
What do you think is going to happen to their money that's not in the checking/savings accounts?


They wouldn't be dealing with a bank run if they had their money in an EFT, most of the platforms allow you to sell shares and then transfer the proceeds to other accounts.




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