Ripped From The Headlines, March, 16 2023
Big Banks To Bail Out First Republic Bank, Chinese Up Their Spy Game, Why Air Travel Is So Bad? - #Read, #Share, & #Subscribe - SherlocExposes.com
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“Eleven banks have deposited $30 billion in First Republic Bank, according to a joint statement from the heads of the Treasury, Federal Reserve, Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency.
‘This show of support by a group of large banks is most welcome, and demonstrates the resilience of the banking system,’ the federal officials said.
The biggest banks in the U.S. earlier Thursday discussed a joint rescue totaling more than $25 billion to shore up the beleaguered lender, people familiar with the matter said.
JPMorgan Chase & Co., Citigroup Inc., and Wells Fargo & Co. were in talks to deposit $5 billion of their own money each into First Republic, the people said. Morgan Stanley and Goldman Sachs Group Inc., as well as regional banks U.S. Bancorp, PNC Financial Services Group Inc., PNC and Truist Financial Corp. TFC were to kick in smaller amounts, the people said.
Big banks received an influx of billions of deposits from midsize lenders including First Republic over the past week in the wake of the collapse of Silicon Valley Bank. The deal could be structured in such a way that the banks are effectively giving back some of the money they have raked in from panicky First Republic depositors, some of the people said.
The rescue would be an extraordinary effort to protect the entire banking system from widespread panic by turning First Republic into a firewall. Two banks have already failed in the past week after depositors withdrew billions, and fears have grown that First Republic could be next.”
“State-sponsored hackers from China have developed techniques that evade common cybersecurity tools and enable them to burrow into government and business networks and spy on victims for years without detection, researchers with Alphabet Inc.’s Google found.
Over the past year, analysts at Google’s Mandiant division have discovered hacks of systems that aren’t typically the targets of cyber espionage. Instead of infiltrating systems behind the corporate firewall, they are compromising devices on the edge of the network—sometimes firewalls themselves—and targeting software built by companies such as VMware Inc. or Citrix Systems Inc. These products run on computers that don’t typically include antivirus or endpoint detection software.
The attacks routinely exploit previously undiscovered flaws and represent a new level of ingenuity and sophistication from China, said Charles Carmakal, Mandiant’s chief technology officer.
The method of cyberattack ‘is a lot harder for us to investigate, and it is certainly exponentially harder for victims to discover these intrusions on their own,” Mr. Carmakal said. “Even with our hunting techniques, it’s hard for them to find it.’”
For months now, headlines have delivered a relentless parade of tough news for nervous fliers: a runway near miss between two planes here, a midflight battery fire there, severe turbulence that projects passengers out of their seats, a 1,400-foot plunge toward the Pacific Ocean, yet another attack on a flight attendant. And then close call after close call on the tarmac.
As observers respond with bafflement — ‘Another one? Didn’t this just happen?’ — the Federal Aviation Administration is taking note. Air travel experts convened Wednesday in Northern Virginia to ‘examine and address recent safety concerns’ as part of a broader review. Several members of the panel pointed to turnover of the industry’s labor force as a potential safety risk.
‘We are experiencing the safest period in aviation history, but we cannot take this for granted,’ acting FAA administrator Billy Nolen wrote in a memo last month. ‘Recent events remind us that we must not become complacent. Now is the time to stare into the data and ask hard questions.’
So far this year, the National Transportation Safety Board has opened investigations into six of the close-call incidents, in New York City; Honolulu; Austin; Sarasota, Fla.; Burbank, Calif.; and Boston. The agency has issued preliminary reports in three of those cases; it did not issue any reports for incursions that occurred in 2022 and only issued one involving commercial aviation in 2021.
Big Money Thursday, Ripped From The Headlines. Things To Ponder:
“Hey, We’ll Just Take The Money We Got From Small Banks In The Panic…And Use It To Slow Down The Banking Panic!”
It’s like a really bad game of musical chairs…
First Republic Bank isn’t a saint by any means… they were another bank with executives who sold off large blocks of their stock a few months before the trouble started…
But it’s interesting to see a group of big banks come together to “save” First Republic…
To save their own skin. Remember what they said above:
“The rescue would be an extraordinary effort to protect the entire banking system from widespread panic by turning First Republic into a firewall. Two banks have already failed in the past week after depositors withdrew billions, and fears have grown that First Republic could be next.”
Those big banks are holding a TON of derivatives debt… that’s risky debt that gets pumped up to create more risk and more potential return…but can also completely drain all of your money.
Here’s how much of that derivatives stuff those big banks have:
Yes… JP Morgan has 60 TRILLION in derivatives debt…
What would a full banking system collapse do to them?
It would be game over.
“All That Cyber Security & Technology? Yeah, It Really Doesn’t Work The Way We Thought…”
The joke about the bomb diffuser lady running and that it’s a good idea for you to keep up?
Yeah, it’s back again.
It looks like the Chinese have upped their spy game, and we’re not able to keep up…
Here’s the short version:
A crack team at Google figured out something else terrible was happening to government systems;
Companies who you would otherwise believe have things under control, VMware Inc. or Citrix Systems Inc., apparently don’t… and these products run on computers that don’t typically include antivirus or endpoint detection software.
And it’s super hard to find or keep track of these things.
How’s that faith in government coming along?
“Flying Is Bad Because We Don’t Know What We’re Doing… Move Along…”
That’s basically what the FAA is trying to tell you… without telling you.
If this is “the safest period in FAA history,” we’re worried things getting any worse…
Once again, it seems like the most basic functions of infrastructure are about to implode… getting planes on and off the ground without problems is getting more difficult, keeping them from hitting each other on the ground is getting more difficult, and getting them anywhere on time seems next to impossible.
If you don’t think there’s a real issue with infrastructure management, just take a trip to East Palestine, Ohio.
Get ready for the ride to get even MORE bumpy.
What does this mean?
Things aren’t going to end well if you don’t take action.
But, here’s what’s different this time… multiple people are saying that same exact thing from a number of different angles, and in different places.
One of the things we often say is to watch what successful people do, & do that.
Most of them are already out of the line of fire for social unrest or economic collapse…
Why should I care?
When was the last time you checked on your “go-to’s”:
*Your go-to investment?
*Your go-to safety net?
*Your go-to emergency plan?
If it’s been a while, here’s some bad news: They probably don’t work anymore.
That means you’re behind in planning for rough times.
You should care.
What should I do?
Take a moment… right now if you can… to take inventory of what you’re seeing in this newsletter each day.
Have you ever seen a time quite like this?
Ok good, you’re paying attention. That’s the point.
If you’re not paying attention and trapped in the hustle and bustle of a busy world (with a ton of useless stuff, by the way), this stuff will come up on you like a thief in the night.
You need to take the time to prepare as best you can for a time when good supplies, strong communities, and strong connections are the difference between surviving and thriving or being in bad shape.
GET MOVING ASAP.
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