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Cyber Attacks on Banks: Not a Haircut, But Decapitation!

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posted on Apr, 2 2013 @ 02:47 PM
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reply to post by Strawberry88
 


No, I completely get where you're coming from. Many people in this country cannot afford to buy property. For a while, it was made ridiculously easy, hence the toxic mortgage / housing crisis that came to a head back in 2008.

I do see where it is going. They will break the middle class here and confiscate their property, most likely either because they are too behind on their mortgage payments, or because they couldn't pay their property taxes. These properties will be bought up by those with plenty of disposable income.

The only wealth the middle class in America has is wrapped up in their home equity. Remove that, and they become as poor as all the rest of the lower class.




posted on Apr, 2 2013 @ 02:49 PM
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reply to post by evc1shop
 


You are making a very valid point. The more the records are kept online, the easier it is to erase them. Our bank, which is a small regional bank, doesn't send us statements. We have to check online in order to see what's going on.

How easy it would be to fudge the numbers.....we wouldn't be able to prove a thing!!



posted on Apr, 2 2013 @ 02:55 PM
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reply to post by Bilk22
 


You're very correct, only the rich have truly safe havens to run to. The middle class will be destroyed. I believe this is by design.

My mother-in-law and stepfather both have a great deal of rental properties, it's how they make their money (and in my stepfather's case, because he owns apartment buildings, he does very well indeed). When people cannot pay the rent, it definitely dings the income of the landlord.

If there is an economic collapse, I know that tenants cannot pay the rent. Everybody goes down together, renter and landlord alike. A dreadful scenario which is so contrary to everything those of us who are older have been raised to believe, that it boggles the mind.



posted on Apr, 2 2013 @ 02:56 PM
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Originally posted by FissionSurplus
reply to post by Strawberry88
 


No, I completely get where you're coming from. Many people in this country cannot afford to buy property. For a while, it was made ridiculously easy, hence the toxic mortgage / housing crisis that came to a head back in 2008.

I do see where it is going. They will break the middle class here and confiscate their property, most likely either because they are too behind on their mortgage payments, or because they couldn't pay their property taxes. These properties will be bought up by those with plenty of disposable income.

The only wealth the middle class in America has is wrapped up in their home equity. Remove that, and they become as poor as all the rest of the lower class.


the good news is, they can't have their cake and eat it too. if the middle class should disappear they loose, as it's not only non profitable to have no tax revenue, it's also no fun for the elite/govt. to have no pawns. i mean what fun is being a tyrant if you have no subjects.

i used to think they were all against us but recently i realized that most are not, because they realize life as we know it would be no fun for the wealthy if, well, life as we know it is gone. who wants to be the richest guy in the homeless shelter, ya know.

i think it's a total mess and i also see it crumbling down because it has no other direction to go. i also realize most of us "middle class" will have to be spared and taken care of lest they have no pawns to play chess with.

unless they want to make people flat out slaves, they have to take us along for the ride, i guess we'll know soon enough eh.



posted on Apr, 2 2013 @ 03:06 PM
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reply to post by sheepslayer247
 


As I stated in my original post, the money will just "disappear"....just like it did with MF Global. Billions of dollars will be gone, and the banks will say that some terrorist stole all the money and they have no idea where it went....which is total B.S., as it has to end up somewhere digitally speaking, even if it's in some account in Switzerland, the Cayman or Cook Islands.

With everybody's accounts hit, FDIC will say that they do not have enough in reserves to replace what was stolen from everybody, so they'll say that we get pennies on the dollar, because that's all they have.

An insurance company can pay some claims, but if every single customer was wiped out, the insurance company would have to admit that they don't have enough funds to cover what they promised to cover. The FDIC is the same way.

If you had $1000 in your account one day, and the next day it went to zero....and it happened to everybody.....FDIC would perhaps have enough to replace $50 - $100 in your account, maximum. The rest is your loss, you will never get it back.

This is what freaks me out about this. It could happen so easily, the banks would look like the victims, the government would claim that it cannot pay everybody back, and all we could do is cry, freak out, run to the grocery stores and steal what we could, or rip off our neighbors.

If you want an apocalyptic scenario, this is a doozy. Then imagine that people, most of live paycheck-to-paycheck, end up not being able to pay their rent or mortgage. The banks have become much more aggressive in the past 6 months when it comes to mortgages, and I read somewhere that, if somebody defaults on their primary residence, and they have some land somewhere, the banks will take the paid for land as well.

The ugliness that could result from this scares the crap out of me.



posted on Apr, 2 2013 @ 03:13 PM
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reply to post by LittleBlackEagle
 


If the middle class disappears, only the government and the people underneath it will suffer from lack of taxes. The very rich, many from other countries, can come in and buy up whole tracts of land and cities at firesale prices.

There is a definite benefit to break us down to a third world country. They can always build it back up later, with a ready supply of workers desperate to make any amount of money.

The name of the game is to run everything down so it can be bought up cheaply by people who will take any price because they are desperate. The middle class are NOT beneficial to the uber-rich. They are beneficial to companies who sell stuff, but for the ones who are incredibly wealthy, we are just useless eaters with property they could own, but we stand in their way.

The IMF and the Chinese already own nice little items like whole cities in Idaho and the Great Lakes. The middle class prevents them from owning us all lock, stock and barrel.

No really rich person wants to pay full price for anything. Why should they, when they can destroy the economy and buy it up for next to nothing?



posted on Apr, 2 2013 @ 03:17 PM
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Without a doubt TPTB are behind the attacks!!! What a brilliant plan they think they have! lol



posted on Apr, 2 2013 @ 03:17 PM
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Without a doubt TPTB are behind the attacks!!! What a brilliant plan they think they have! lol



posted on Apr, 2 2013 @ 03:35 PM
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reply to post by tracehd1
 


It's actually very brilliant, if it were not for the fact that there are plenty of people who see what they're up to.

Not to stir up a hornet's nest, but in my mind, it will be just like 9/11. Blame a few financial "terrorists" for the disaster, and spin a story that is a lot like a fairy tale. It only hangs together when you don't examine all the available evidence.

Note on the previous page in one of my replies I showed a link from the end of January which showed an abnormally high amount of bank withdrawals that were not replaced, and they said that the last time this happened was 9/11/01. What a coinkidink!

I can also imagine that we're poking the crazed little wolverine in the cage (North Korea) to get him frothing at the mouth and willing to strike. Perhaps while we're distracted with fearing for our lives, they can strike on the computer and blame it on them.

I don't know.....so many ways to imagine this disaster, and none of them pretty.



posted on Apr, 2 2013 @ 03:50 PM
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reply to post by FissionSurplus
 


Fission,

Good discussion!
This does seem to be the order of the day,
imagine if the FDIC will only "insure" up to 100k, if the rest is gone,
too bad for everyone else huh?

Like Cyprus, its called theft by Government.



posted on Apr, 2 2013 @ 03:57 PM
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reply to post by burntheships
 


Yup...theft by government, blamed on a boogeyman with a laptop, money disappears into the ether, and we're all screwed.

Like most criminals, why take the blame for something when you can set up a fall guy and get away scot-free?

I'm not saying it is a definite, but it is certainly a really smart way to accomplish the ultimate rip-off.....and certain signs point to it being a possibility.



posted on Apr, 2 2013 @ 04:03 PM
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reply to post by FissionSurplus
 


Yes, and a way to kill several birds with one stone, so to speak.
They have wanted to expand control over the internet for a long time,
this would do it.

I do think your right, we will look back on these days, and say remember when?



posted on Apr, 2 2013 @ 04:29 PM
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reply to post by burntheships
 


Yes, this would kill the free exchange of ideas over the internet for sure, as the internet could be blamed for the financial collapse.

Another bird it would kill is to bail these rotten banks out of their derivatives bubbles that is set to pop and bring the whole house of cards crashing down. The largest banks are the ones that are most overextended with regard to derivatives exposure.

What is a derivative?

The short answer: A derivative is anything that is valued based upon some other asset. In other words, it derives its value from something else.
The long answer: A call option, which is a simple type of stock option that gives the buyer the right (but not the obligation) to buy 100 shares of a certain stock at a pre-determined price, is a derivative because the value of the option depends on what the underlying stock does. In the case of GE stock options, for instance, whether the stock option makes money, loses money, or breaks even depends entirely upon what General Electric shares do. Thus, the options “derive” their value from GE stock. They are a derivative.


So why are they dangerous?

Although derivatives can help make the economy function by reducing risk for farmers, oil companies, startup employees, and more, left unchecked, they can introduce “systematic risk”. Only a handful of firms represent a massive portion of the total derivatives traded in the world meaning that if one of them went bankrupt, it could lead to a daisy-chain effect that caused all of the others to fail, wiping out the entire financial system.
The failure of Lehman Brothers nearly caused this to happen during the Credit Crisis and would have succeeded had it not been for the extraordinary intervention by the Federal Reserve, Treasury, FDIC, and other government agencies.


beginnersinvest.about.com...

Wiping everybody out and blaming it on a cyber terrorist is one way to fix this pickle they have themselves in, and the internet will be irrevocably changed in the process.



posted on Apr, 2 2013 @ 07:11 PM
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reply to post by FissionSurplus
 


Indeed, I recall a few years back they created legislation directed at
initiating a government issued "identification" id for using the internet.

Which, well, what could possible go wrong there?



How many bad deriviatives does it take to burst a bubble?
I think we are going to find out one of these days.



posted on Apr, 2 2013 @ 07:56 PM
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reply to post by burntheships
 


A government issued ID in order to use the internet? Oh, for crying out loud......government comes up with the dumbest ideas sometimes! What could go wrong indeed! Let me count the ways......



posted on Apr, 2 2013 @ 08:22 PM
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reply to post by FissionSurplus
 


We are only one national emergency away from martial law. I can easily see how a banking catastrophe could tie in nicely.

But I have to counter you with big oil. One hand feeds the other, and oil companies go down too.



posted on Apr, 2 2013 @ 08:56 PM
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But I have to counter you with big oil. One hand feeds the other, and oil companies go down too.
reply to post by Druid42
 


Forgive me for being dense, Druid, but I'm not sure I fully comprehend the connection between bank failures and oil failures, unless you're referring to nobody being able to buy gas after TSHTF....



posted on Apr, 2 2013 @ 09:12 PM
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reply to post by FissionSurplus
 


You're not being dense, I was rather vague.

But you got my point anyhoo.

With no consumers buying gasoline at $3.80 a gallon, (because their digital money is missing) suddenly big oil has a huge surplus, and no profit.

I cannot see how big oil interests would allow such a cyberattack on the banking system. They have as much to lose as the rest of us.



posted on Apr, 2 2013 @ 09:30 PM
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reply to post by Druid42
 


Okay, got it. You make a valid point, but other countries can always buy the gasoline or the crude...the oil companies would only take a temporary hit before they moved their product elsewhere. It's not like there's not a market for it overseas.

I also don't think that the oil companies are that powerful in the larger scheme of things. I mean, they're big, but the banks have always been the big money players, and they may not give a rat's ass how it affects anything else.

They are in a bind due to heavy exposure to risky derivatives, so they may decide that pissing off big industries is worth the risk.

EDIT: Who's to say that the oil companies wouldn't be warned ahead of time so they could cushion the blow by removing their funds to other more stable banks in other countries?
edit on 2-4-2013 by FissionSurplus because: (no reason given)



posted on Apr, 2 2013 @ 10:37 PM
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Very interesting thread, the premise really isn't that far fetched if you ask me. I remember a few months ago reading this thread: Fraud Ring In Hacking Attack On 60 Banks.

It was believe they siphoned some where around 2 billion from over 60 different banks. I was amazed at just how efficient these hackers were. McAfee released a report detailing how the hack was carried out, the report was titled Operation High Roller. To this day it's probably still possible to carry out a similar attack because it tricks the victim into supplying all their security info.
edit on 2/4/2013 by ChaoticOrder because: (no reason given)





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