Britain and America to hold 'war games' to test reaction to bank collapse

Well buckle up...looks like the money masters are gearing up and testing their reaction plans too see how the government on both sides of the Atlantic could handle a major collapse of a to big to fail bank.

Source

Britain and America will hold 'war games' next week to test their response to the collapse of a major bank on either side of the Atlantic.

Chancellor George Osborne and Bank of England governor Mark Carney will join US Treasury Secretary Jack Lew and Federal Reserve chief Janet Yellen in a Washington war room on Monday.

The simulated exercise will look at two scenarios – a major US bank with UK operations at risk and a major UK bank with US operations about to go under

Hmmm. I wonder who the supposed "enemies" will be.
Definitely not citizens, I mean... C'mon, lets not get complacent, guys.

Seems like if you wanted to really test this scenario.. A lot of money would be required.

I think it is to test new regulations and standards that will allow large banks to fail rather than automatically pass the debt to citizens. I think the term 'War Games' is hyperbole.

Here is a better titled article: U.S. And UK To Test Big Bank Collapse In Joint Model Run
www.businessinsider.com...

Treasury Secretary Jack Lew and the UK's Chancellor of the Exchequer, George Osborne, on Monday will run a joint exercise simulating how they would prop up a large bank with operations in both countries that has landed in trouble.

Also taking part are Federal Reserve Chair Janet Yellen and Bank of England Governor Mark Carney, and the heads of a large number of other regulators, in a meeting hosted by the U.S. Federal Deposit Insurance Corporation.

"We are going to make sure that we can handle an institution that previously would have been regarded as too big to fail. We’re confident that we now have choices that did not exist in the past," Osborne said at the International Monetary Fund's annual meeting.

Six years after the financial crisis, politicians and regulators around the globe are keen to prove they have created rules that will allow them to let a large bank go under without spending billions in taxpayer dollars.

So it sounds like a prudent and rational thing to do...

So, it is digital Ones or Zeros that are gonna disappear?

Good catch, OP, I'd love to be a fly on that wall... and why not BOTH scenarios happening at once? That'd be fun...
I wonder if any of the plots will involve pitchforks, or, say, guillotines?

Wait a sec... I think this is how the elites announce "Hey, we're taking a day off to throw a LAN party. Cursed trans-atlantic lag."

I wish i was joking.

Strange timing with banks closed on Monday for Columbus Day.

a reply to: Daedal

As its only supposedly 'war games' it will expose the measures that will be taken by the police and the governments so the public will at least be aware of what they have up their sleeves were the real thing to happen.

With the amount of derivitatives held by three major world banks totally over 3 trillion something somewhere is going to explode some time soon.

or they know a big u.s/uk bank is going to go down and are currently proping it up.
anyway there will be no riots as long as the people get their money ,instead of the bankers.

This kind of thing happens pretty often (ie in many countries it is an annual cycle, and often involves multiple countries). These kinds of tests are fundamental to risk management.

Not everything needs to be a conspiracy.