Surprise, Surprise; American Banks Hacked Following Sanctions

by Kevin D. Freeman on August 28, 2014

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We’ve been consistent since the summer of 2008 in private conversations, 2009 with reports to the government, 2011 in this blog, 2012 with the NY Times bestseller Secret Weapon and 2014 with Game PlanWe’ve told you that this is a global economic war. We pointed out Russian warnings that they could crash the American financial system in retaliation for any sanctions we would impose. We explained that this was a long-term Putin-led strategy to dethrone American economic leadership and remove the dollar from Global Reserve Currency status. We warned that the 2011 NASDAQ hack was just the beginning of things to come. Our stock market and entire financial system have been targetedAnd, not just by Russia.

So, why is anyone surprised to learn that the American banking system was stealthily attacked?

Here’s what we know so far:

1. At least five major banks including JP Morgan Chase were hacked.

2. The hack was extremely sophisticated indicating nation-state involvement whether directly or indirectly.  It was described as Stuxnet-like.   That is far beyond the amateur hacker’s capability. [Of course, it could be an independent group operating with state-level resources and approval.]

3. The prime suspect is Russia.

4. It appears that the attack might have been to show capability as a “warning shot” across the bow. Even the best-managed systems by the biggest companies appear vulnerable. The attack proved that even the core infrastructure could be breached.

5. We are behind the curve in addressing these threats. In fact, banks weren’t scheduled to meet with the Treasury on cyber threats until next month.

6. It is VERY serious. Even before the attack was acknowledged, “Treasury Secretary Jack Lew gave a speech focused on the topic at a Wall Street investor conference in July. ‘These incidents represent a direct threat to our economic and national security, perpetrated by state and non-state actors around the world, with growing intensity and increasing sophistication,’ Lew said.” That was BEFORE the latest revelation.

Don’t forget what General Keith Alexander said to 60 Minutes late last year:

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Robert Lenzner, Forbes Staff 12/15/2013 @ 9:00PM |4,402 views

Some Foreign Nations Have The Cyberwar Capability To Destroy Our Financial System, NSA Admits

On the CBS program 60 Minutes tonight, National Security Agency (NSA) director Gen. Keith Alexander admitted that “a foreign national could impact and destroy a major portion of our financial system . . . and literally take down the U.S. economy.”

…(Deborah) Plunkett (another NSA official spokesperson) told CBS: “Don’t be fooled. There are absolutely nation states who have the capability and the intention to do just that,” ie “literally take down the U.S. economy.”

This is just further evidence of what we have been saying all along:

We are in a global economic war right now. And, we appear less prepared to face it than we were prepared in November 1941 to face the second world war. Unfortunately, Pearl Harbor is coming.

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