WEF Warns of Cyberattack Leading to Systemic Collapse of the Global Financial System

 

In November 2020, the World Economic Forum and Carnegie Endowment for International Peace coproduced a report that warned that the global financial system was increasingly vulnerable to cyberattacks. Advisers to the group that produced the report included representatives from the Federal Reserve, the Bank of England, the International Monetary Fund, Wall Street giants such as JPMorgan Chase, and Silicon Valley behemoths such as Amazon.

The ominous report was published just months after the World Economic Forum had conducted a simulation of just such an event—a cyberattack that brings the global financial system to its knees—in partnership with Russia’s largest bank, which is due to jumpstart that country’s economic transformation by launching its own central bank–backed digital currency.

As recently as last Tuesday, the largest information-sharing organization of the financial industry, the Financial Services Information Sharing and Analysis Center (FS-ISAC), whose known members include the Bank of America, Wells Fargo, and Citigroup, warned that nation-state hackers and cybercriminals are poised to jointly attack the global financial system. The CEO of this organization had previously given the same warning, which was published in the World Economic Forum-Carnegie Endowment (WEF-Carnegie) report.

Such coordinated simulations and warnings from those who dominate the current ailing financial system are obviously a cause for concern, particularly given that the World Economic Forum is well-known for its Event 201 simulation about a global coronavirus pandemic that took place just months prior to the COVID-19 crisis.  (more...)

WEF Warns of Cyberattack Leading to Systemic Collapse of the Global Financial System

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From “Event 201” to “Cyber Polygon”: The WEF’s Simulation of a Coming “Cyber Pandemic”