You could hardly think of a more attractive target for computer hackers than a bank. Experts say the banking industry suffers 300% more cyber-attacks than any other industry, and it’s a very lucrative endeavor for cyber bank robbers. The bad news is, they’re getting away with it.
Bank hacking is a massive criminal enterprise that the banks don’t want you to know about. Why don’t they want you to know about it? Because, if the public knew exactly how much money cyber criminals are able to steal every day, questions would arise that are very scary for the banking industry.
Those questions are, ‘why don’t I actually lose my money when it’s stolen, where does the value of my money actually come from, and why is the entire system not breaking down completely?’
To answer those questions, your banker would have to tell you some hard truths about the nature of global finance- and chances are he’s too willfully ignorant to be able to explain it to you.
An Ongoing Heist
To understand the problem, let’s think about Star Wars for a moment. You can think of the nature of the conflict of Banks versus Hackers as being like the relationship between a Storm Trooper’s armor, and the penetrating power of a laser.
Basically, according to the lore of Star Wars, it’s impossible to create wearable armor that can resist a high energy bolt of light from a projectile weapon. They wear their armor for the appearance of protection, and to guard against very weak attacks.
This is the situation the banks are in. Much of the electronic security they enjoy is largely superficial, based on the presumption that banks are massively well protected. After all, when you think of bank security, you think of armed men in an armored truck, giant steel vault doors, and packets of dye that mark any ill-fated criminals for arrest.
But when it comes to cyber security it’s really just a matter of a hacker working out a very complex puzzle- or creating a program that can work out the puzzle for them. In other words, the ingenuity of the hacker is like the laser that a Storm Trooper’s armor cannot resist.
Another way to think of the problem of cyber security is to compare it to the game Rock, Paper, Scissors. There are different types of cyber-attacks and different types of defenses.
Some defenses are best against certain types of attacks- and some attacks can break down some defenses like a protein working through a fiber of yeast. Cyber security people try to use a defense that will repel the kind of attack that is most likely to be used against the system.
They can use layers of defenses, but each layer is as vulnerable as any other and can only give the defender more time to add another layer of protection.
To put it simply, cyber security is not something that security professionals can ever call a finished job. It’s an ongoing struggle- much like the struggle of the medical industry to repel disease.
The shocking truth is that millions of dollars, (to estimate conservatively) are stolen every day in this country- not to mention in the entire world- and chances are, your money has been stolen more than once and been replaced by your bank without you even knowing it.
The Nature of the Global Banking System
You may be thinking, “That’s impossible, if money was always being stolen and just replaced on credit the whole system would collapse,” and you would be right.
The fact is that the money in your bank is only a phantasm, a presumption of credit. Every time money is stolen from your account, the banking system passes the buck further and further along a chain all the way to the central bank.
From there, a wave of fiat currency is created—keeping the system from vaporizing. Each time this happens, your money loses a little bit of its value and the system becomes a little bit less stable.
The money in your bank account is a representation of credit, and the reason it continues to persist, rather than it being admitted that it’s gone to where it really is, is because there is one resource which the international banking and finance systems value more than real backed up cash.
That resource is your trust, your faith that our money is real- that it represents something truly meaningful and isn’t just part of an elaborate ruse to keep you engaged, working, paying taxes and voting for whoever is passing out the most goodies.
Regards,
Ethan Warrick
Editor
Wealth Authority
