Very thoughtful read on the greater game in the weaponization of money for power, implications for the USD system and in my opinion, how #Bitcoin provides the only path away from this madness.
H/T - @preston
http://www.deepthroatipo.com/how-to-wreck-a-big-old-gsib-bank/
Wow!
The one thing I find reassuring is that this bullet can only be shot once, leading to a new system that is, by definition, less sensitive to this attack vector.
So I hope they only plan to use it as a threat.
This is a long but revealing read.
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Yeah, that was a good run down. For me it was a lesson on the mental shifting one has to do to grasp next levels of magnitude. Really just add some zeros and use the prefix terms and it normalizes in the mind. For example, Bitcoin miners are comfortable talking about 10s or 100s of MWs of facility size but even in the small power company I work for our annual peak is only 60 MW, and that's serving 11k meters with 3k miles of lines.
SO orders of magnitude of banking becomes the same mental exercise. Then knowing the vulnerabilities of the system become easier to exploit. Crazy!
