Cryptocurrency: Collective Strength - Countries WarGame Global Financial Collapse, 1984

[grarpamp]

As with the biomedical wargames and playthings in the 201x's
leading to Corona, and other historical seeded-ideas-turned-reality,
including from Orwell's 1984... next up we have...


IMF, World Bank & 10 Countries Held Alarming "Simulation" Of Global
Financial System Collapse

https://www.nasdaq.com/articles/exclusive-imf-10-countries-simulate-cyber-attack-on-global-financial-system


Earlier this month Reuters produced a report which didn't receive
nearly enough attention among the American public - its contents would
be sure to alarm most people concerned with the outbreak of yet more
'global catastrophes'. At the very least it's curious timing: amid the
recent pandemic induced disruption in global supply chains, powerful
nations and banking institutions decided to get together to run a
global economic collapse scenario.

The report described that Israel led a "10-country simulation of a
major cyber attack on the global financial system in an attempt to
increase cooperation that could help to minimize any potential damage
to financial markets and banks." It was centered on a catastrophic
scenario in which "hackers were 10 steps ahead of us," according to
one official who took part.
Collapse, illustrative image via Reuters

Dubbed "Collective Strength", the exercise was held in Jerusalem
(after being moved from the original proposed location of Dubai) and
included the participation also of the United States, UK, United Arab
Emirates, Austria, Switzerland, Germany, Italy, the Netherlands and
Thailand. Officials from the International Monetary Fund (IMF), World
Bank and Bank of International Settlements were also involved.

The financial-geopolitical gaming simulation was set amid a scenario
where sensitive data was leaked on the Dark Web, which combined with
"fake news" reports going viral across societies, resulting in the
collapse of global markets and an ensuing run on banks. Further, the
simulation envisioned a series of devastating hacks targeting global
foreign exchange systems, which also disrupted transactions between
importers and exporters, according to Reuters.

The simulation set out a severe crisis period lasting about a
week-and-a-half. Events were guided by a film and narrator which
related the fast moving 'live' events...

    "These events are creating havoc in the financial markets," said a
narrator of a film shown to the participants as part of the simulation
and seen by Reuters.

Further the report detailed of the simulation hosted under the aegis
of Israel's Finance Ministry:

    "The banks are appealing for emergency liquidity assistance in a
multitude of currencies to put a halt to the chaos as counterparties
withdraw their funds and limit access to liquidity leaving the banks
in disarray and ruin," the narrator said.

    The participants discussed multilateral policies to respond to the
crisis, including a coordinated bank holiday, debt repayment grace
periods, SWAP/REPO agreements and coordinated delinking from major
currencies.

Simulation participant countries and institutions, Via Reuters

Ostensibly what was a "successful" ten day exercise was aimed toward
each country being prepared to contain the global damage coming from
some kind of major cyber event or threat. The key takeaway was that
only through rapid global cooperation and open communication among
nations, would there be opportunity to prevent total collapse of the
global (or perhaps rather Western-led) financial system.

Interestingly, some participants said in reality they would in reality
move faster than in the simulation in the instance of a cyber
disruption of that scale. They said "in a real cyber attack situation
governments would take action more quickly than in the simulation,"
according to Reuters. "One European financial official said that in
the case of such of an attack, his country would not wait 10 days to
act."

However, we doubt much of the Western public will feel "comforted" by
global elites engaged in a simulated global meltdown 'readiness'
scenario. Again, as if 2020 and 2021 under the pandemic weren't enough
of a "real world" disaster and crisis scenario, one questions the need
to game out a 'pretend' scenario in the first place.