A bank is a financial institution licensed to receive deposits or issue new securities to the public.
And Accounting for trillions in assets worldwide, the banking system has became a crucial component of the global economy. While money-changing and money-lending may be as old as money, banking dates back to 15th century medieval Italy, and played a major role in the rise of the Italian city-states as world economic powers. Ever since, the health of an economy and the health of its banks have been interrelated; the global credit crisis, precipitated by the collapse of the subprime-fueled U.S. housing bubble, is only the most recent example.
Banks are just one part of the world of financial institutions, standing alongside investment banks, insurance companies, finance companies, investment managers and other companies that profit from the creation and flow of money. As financial intermediaries, banks stand between depositors who supply capital and borrowers who demand capital. Given how much commerce and individual wealth rests on healthy banks, banks are also among the most heavily regulated businesses in the world.
A Heavily Regulated business ruled by Global Bankers with the help of Governments..This is what the truth of so many Trips of PM Narendra Modi to America and other suitable places of world bankers where they deal the assets of country and brought a whole lot of Global Banking firms to India.
But You Know What:
As with any business, A Country’s success is based on the balance of its assets against its liabilities. Its assets are a plentiful supply of natural resources; land & minerals.
These assets are hindered by one main liability, a ruling Banking class who are importing a monetary system of theirs from America a while ago (Courtsey: P.M Narendra Modi). It is a non-free market system which is enough of a hindrance to negate all the positives of any country in time. A simple enough system to understand, yet very seldom understood, even by the most intelligent among us, it would seem. It operates on the simple rule that currency is borrowed into existence with interest bearing on it at a given rate. The critical point to recognise is that the interest owing is not issued by the lender, only the principal, thereby meaning that the interest either has to be paid out of the sum of principal borrowed, or by confiscation of real physical assets, i.e. “real wealth”. The only thing keeping this eventuality from occurring is if a new borrower adds more money, borrowed as yet more debt, into the economy.
This is why such a monetary system requires ever more investing manias to perpetuate itself. After exhausting the supply of manias of things of no real consequence in America and other developed nations, the wizards of this system centered mainly around a country known as India.
Now things got interesting. Since not enough currency is in existence to cover all the debt owed to the lender, then the assets, real things or “real wealth,” are now owed to the lenders. The problem with this is that if the lenders acted upon this fact the populations of the developed world would quickly realise that they are all in fact broke, as all property would get consumed by the Banksters as repayment, leading no doubt to a world-wide revolt against the secret overlords of this system.
So, instead of this, things have been manoeuvred to allow a more gradual slow economy coupled with placing Narendra Modi type owned leaders into key government positions across the developing world and fishing their economies.
GLOBAL BANKING DESPERATE TO BRING CASHLESS SYSTEM
Of all who are working to bring our nation into a cashless monetary system, the desire to do this is greatest in the hearts of those who would rule over us and the world. These who dream of absolute power over the masses realize that in order to achieve their goal, it is necessary to have absolute control of the world’s economic system. Tyrants know that if they can effectively separate every individual from his or her wealth, requiring the approval of the system for every financial transaction, that they can control the world. They have been, and are, continually working to develop and implement this system.
While banks, businesses, and others will gain financially from an electronic cashless monetary system, government will exponentially increase its power over the people. The people who wield power within government are those who are most able to effect this fundamental change in the way the world does business. This is because it will be those in government who will determine, by law, the type of system that will be used to control buying and selling and the form of currency that will be used.
And above all Global Banking System has a habit of getting robbed by Hackers.
How, Why ?
Can’t the Hackers are their own devised machineries?
At least four major global banks have been infiltrated by hackers since January 2015.
The first known case happened in January to Ecuador’s Banco del Austro. That time, hackers stole $12 million and moved it through a Wells Fargo bank account in the United States.
Then it happened in October to a bank in the Philippines. Bankers’ desktop computers were infected with computer code that gave hackers control of the system. It’s unclear if any cash was stolen.
Vietnam’s TPBank was hit in December. Hackers tried to transfer out $1 million, but they failed.
In February, hackers broke into Bangladesh’s central bank and stole $101 million from its account at the New York Federal Reserve
This risk poses a danger to banks everywhere
These hacks have exposed a flaw in the integrity of the international banking system. That system is based on trust — the understanding that if a bank approves a transaction, it’s really that bank making the call.
But only the largest banks — typically those in the United States and Europe — are well protected. As the CEO of Mastercard recently put it: Smaller banks are the weak link in the chain.
Hackers have discovered that they can break into a smaller, less guarded banks — and move money internationally with relative ease.
This is forcing banks to doubt the validity of wire transfer requests.
Now you need to know that nothing can be done to catch the Hackers..
Cause The hackers have been linked to North Korea.
Let’s be careful here. The hackers who attacked these banks are using pieces of the same malicious computer code as the hackers who attacked South Korean media companies in 2013, as well as Sony in 2014.
U.S. government investigators, as well as security companies BAE Systems and Symantec,
all agree on this point.
The FBI has stated that the North Korean government was behind the 2014 Sony hack. Transitive logic, then, points the finger this time at North Korea.
CNNMoney has spoken to more than a dozen security researchers who support this theory.
But there’s reason to doubt this. Hackers share code. And some people even doubt the FBI’s assertion that North Korea hacked Sony.
Another thing you need to know..
SWIFT was not hacked.
A key role here is played by SWIFT, the worldwide interbank communication network that settles transactions. It’s how banks send money to each other.
SWIFT makes sure Bank A really is sending money to Bank B. In these cases, hackers entered Bank A. Using hacked credentials, thieves could move money along SWIFT to another bank account.
So it’s pretty clear SWIFT can’t do anything in this regard.
SWIFT says it has taken steps to keep money safe.
As a response to these hacks, SWIFT is forcing banks to increase their security. Moving money will require additional steps that prove a real banker is approving a transaction. Banks will also share more information with one another about their computer systems. This would form a unified defense against hackers.
SWIFT is also analyzing its own infrastructure to spot how it’s being used illegally.
But the CEO of SWIFT has also said: “The financial industry, as a community, has to be clear that cyber risk is big; there will be more cyber attacks. And inevitably some will be successful,” he said.
Don’t you smell what’s cooking..
Expect more digital Global bank heists.
More to Come..
Along with thanks and compliments to the sources for the shared data
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