Best of the Week
Most Popular
1. Climate Change Mass Extinction - Birds, Bees and Bugs: Going Going Gone - Richard_Mills
2.A Purrrfect Gold Price Setup! - Peter_Degraaf
3.Who Finances America's Borrowing? Recession Indicator for Independent Thinkers Part 2 - F_F_Wiley
4.America’s One-sided Domestic Financial War - Raymond_Matison
5.Gold Price Summer Doldrums - Zeal_LLC
6.Two Key Events Will Unleash Gold - Jim_Willie_CB
7.Billionaire Schools Teacher in NAFTA Trade Talks - Richard_Mills
8.Get Out Of Crypto Cannabis Bubble Before It Pops and Move Into Bargain Basement Miners - Jeb_Handwerger
9.Stock Market Could Pullback for 1-2 weeks, But Medium Term Bullish - Troy_Bombardia
10.G7 Chaos, Central Banks and US Fed Will Drive Stock Prices This Week - Chris_Vermeulen
Last 7 days
SPX Bouncing Above Support - 21st Jun 18
Things You Need To Know If You Want To Invest In Bitcoin Now - 21st Jun 18
The NASDAQ’s Outperformance vs. the Dow is Very Bullish - 21st Jun 18
Warning All Investors: Global Stock Market Are Shifting Away From US Price Correlation - 20th Jun 18
Gold GLD ETF Update… Breakdown ? - 20th Jun 18
Short-term Turnaround in Bitcoin Might Not Be What You Think - 19th Jun 18
Stock Market’s Short Term Downside Will be Limited - 19th Jun 18
Natural Gas Setup for 32% Move in UGAZ Fund - 19th Jun 18
Magnus Collective To Empower Automation And Artificial Intelligence - 19th Jun 18
Trump A Bull in a China Shop - 19th Jun 18
Minor Car Accident! What Happens After You Report Your Accident to Your Insurer - 19th Jun 18
US Majors Flush Out A Major Pivot Low and What’s Next - 18th Jun 18
Cocoa Commodities Trading Analysis - 18th Jun 18
Stock Market Consolidating in an Uptrend - 18th Jun 18
Russell Has Gone Up 7 Weeks in a Row. EXTREMELY Bullish for Stocks - 18th Jun 18
What Happens Next to Stocks when Tech Massively Outperforms Utilities and Consumer Staples - 18th Jun 18
The Trillion Dollar Market You’ve Never Heard Of - 18th Jun 18
The Corruption of Capitalism - 17th Jun 18
North Korea, Trade Wars, Precious Metals and Bitcoin - 17th Jun 18
Climate Change and Fish Stocks – Burning Oxygen! - 17th Jun 18
A $1,180 Ticket to NEW Trading Opportunities, FREE! - 16th Jun 18
Gold Bullish on Fed Interest Rate Hike - 16th Jun 18
Respite for Bitcoin Traders Might Be Deceptive - 16th Jun 18
The Euro Crashed Yesterday. Bearish for Euro and Bullish for USD - 15th Jun 18
Inflation Trade, in Progress Since Gold Kicked it Off - 15th Jun 18
Can Saudi Arabia Prevent The Next Oil Shock? - 15th Jun 18
The Biggest Online Gambling Companies - 15th Jun 18
Powell's Excess Reserve Change and Gold - 15th Jun 18
Is This a Big Sign of a Big Stock Market Turn? - 15th Jun 18
Will Italy Sink the EU and Boost Gold? - 15th Jun 18
Bumper Crash! Land Rover Discovery Sport vs Audi - 15th Jun 18
Stock Market Topping Pattern or Just Pause Before Going Higher? - 14th Jun 18
Is the ECB Ending QE a Good Thing? Markets Think So - 14th Jun 18
Yield Curve Continues to Flatten. A Bullish Sign for the Stock Market - 14th Jun 18
How Online Gambling has Impacted the Economy - 14th Jun 18
Crude Oil Price Targeting $58 ppb Before Finding Support - 14th Jun 18
Stock Market Near Another Top? - 14th Jun 18
Thorpe Park REAL Walking Dead Living Nightmare Zombie Car Park Ride Experience! - 14th Jun 18

Market Oracle FREE Newsletter

5 "Tells" that the Stock Markets Are About to Reverse

Cyber Wars Could Crash Markets and Threat To Humanity – Buffett and Rickards

Stock-Markets / Cyber War May 16, 2017 - 03:09 PM GMT

By: GoldCore

Stock-Markets

Cyber wars are a bigger threat to humanity than nuclear weapons, the world’s richest and most famous investor Warren Buffett, presciently warned a few days ago.

“I do think that’s the number one problem with mankind,” Warren Buffett warned during Berkshire Hathaway’s annual shareholder meeting on May 6th.


“I’m very pessimistic on weapons of mass destruction generally although I don’t think that nuclear probably is quite as likely as either primarily biological and maybe cyber,” Buffett said during Berkshire Hathaway’s annual shareholders’ meeting. Unlike most of Buffett’s pronouncements, this clear and very strong warning was not reported widely.

“I don’t know that much about cyber, but I do think that’s the number one problem with mankind” said Buffett as reported by Business Insider UK.

Last year, Buffett told CNBC — cyber, nuclear, biological and chemical attacks — posed a major threat to the economic well-being of Berkshire shareholders.

Echoing Buffett’s cyber concerns, today one of the world’s leading experts on currency wars, financial warfare, cyber terrorism and cyber war, James Rickards has again warned that cyber attacks may have already compromised the U.S. national security  and could turn a “bad day on Wall Street into a full blown crash”.

According to Rickards writing in the Daily Reckoning today:

“Friday’s cyberattack just highlights the growing nature of the threat, and the need for much greater security.

WikiLeaks’ March release of 7,818 web pages, called the “Vault 7,” was a major development. This collection amounted to more than several hundred million lines of code, and gave away the entire hacking capacity of the CIA.

It was by far the largest release of CIA intelligence documents in history.

And the WikiLeaks’ released documents proved that U.S. intelligence agencies have lost control of their hacking tools.

This is part of a much larger problem.

Barely a day goes by without some company or government agency announcing that one of its systems has been compromised or attacked …

In 2010, the FBI and Department of Homeland Security discovered an attack virus in the computer systems of the Nasdaq stock market. That virus was disabled, but others may remain.

On Aug. 22, 2013, the Nasdaq was mysteriously shut down for over three hours, disrupting trading in Apple, Google, Facebook and other investor favorites.

Military planners make use of a fighting doctrine called the “force multiplier.” The idea is that any given weapon can be used with greater-than-normal effect when combined with some other state or condition that gives the weapon greater impact.

For example, if Russia wanted to disrupt a U.S. stock exchange, they might wait until the market is down over 3%, say, 500 points on the Dow Jones index, for reasons unrelated to the cyberattack.

Launching the attack on a day when the market is already nervous would “multiply” the impact of the attack and possibly result in a drop of 4,000 Dow points or more, comparable in percentage terms to the one-day drop on Oct. 19, 1987.

All of these scenarios are worrying enough, but a couple years ago the U.S. government suffered a cyberattack even worse than shutting a stock exchange or opening the floodgates on a dam.

Chinese hackers had gained access to the files of the U.S. Office of Personnel Management (OPM). Estimates of individuals affected range from 4 million up to 32 million. The Chinese hackers actually obtained credentials to gain access to the system, and once inside systematically downloaded the database.

If the stolen information were limited to names, addresses, Social Security numbers and the like, the damage would be immense and the affected individuals would be at constant risk of harassment and identity theft.

But the damage was far worse.

Many of the files consisted of responses to a questionnaire called Standard Form 86, or SF-86. This is the form used to apply for security clearances up to and including the top-secret level.

The form itself is 127 pages long, which is daunting enough.

But the attachments and documentation required to support the information on the form, including tax returns, personal net worth statements, explanations of answers to certain questions, etc., can run to hundreds of pages more.”

Our modern financial system and investment and savings providers with their massive dependency on single interface websites, servers and the internet face serious risks that few analysts have yet to appreciate and evaluate.

These also pose risks to digital gold providers who do not allow clients to interact and trade on the phone and are solely reliant for pricing and liquidity from online portals and online trading platforms.

Those who have outright legal ownership of physical gold and silver coins and bars outside the banking system will weather the cyber storm better than those who do not.

The hope is that these risks will not materialise. Hope is never a strategy. We believe it is prudent to be aware of and take appropriate measures – sooner rather than later – to protect your wealth.

Gold Prices (LBMA AM)

16 May: USD 1,234.05, GBP 958.98 & EUR 1,117.93 per ounce
15 May: USD 1,231.50, GBP 952.32 & EUR 1,124.61 per ounce
12 May: USD 1,227.90, GBP 955.06 & EUR 1,129.55 per ounce
11 May: USD 1,221.00, GBP 945.66 & EUR 1,122.95 per ounce
10 May: USD 1,222.95, GBP 944.61 & EUR 1,124.99 per ounce
09 May: USD 1,225.15, GBP 948.51 & EUR 1,124.20 per ounce
08 May: USD 1,229.70, GBP 948.71 & EUR 1,123.45 per ounce

Silver Prices (LBMA)

16 May: USD 16.72, GBP 12.97 & EUR 15.13 per ounce
15 May: USD 16.59, GBP 12.83 & EUR 15.12 per ounce
12 May: USD 16.30, GBP 12.68 & EUR 14.99 per ounce
11 May: USD 16.37, GBP 12.70 & EUR 15.06 per ounce
10 May: USD 16.29, GBP 12.59 & EUR 14.99 per ounce
09 May: USD 16.22, GBP 12.55 & EUR 14.88 per ounce
08 May: USD 16.38, GBP 12.64 & EUR 14.96 per ounce

Mark O'Byrne

Executive Director

This update can be found on the GoldCore blog here.

IRL
63
FITZWILLIAM SQUARE
DUBLIN 2

E info@goldcore.com

UK
NO. 1 CORNHILL
LONDON 2
EC3V 3ND

IRL +353 (0)1 632 5010
UK +44 (0)203 086 9200
US +1 (302)635 1160

W http://www.goldcore.com/uk/

WINNERS MoneyMate and Investor Magazine Financial Analysts 2006

Disclaimer: The information in this document has been obtained from sources, which we believe to be reliable. We cannot guarantee its accuracy or completeness. It does not constitute a solicitation for the purchase or sale of any investment. Any person acting on the information contained in this document does so at their own risk. Recommendations in this document may not be suitable for all investors. Individual circumstances should be considered before a decision to invest is taken. Investors should note the following: Past experience is not necessarily a guide to future performance. The value of investments may fall or rise against investors' interests. Income levels from investments may fluctuate. Changes in exchange rates may have an adverse effect on the value of, or income from, investments denominated in foreign currencies. GoldCore Limited, trading as GoldCore is a Multi-Agency Intermediary regulated by the Irish Financial Regulator.

GoldCore is committed to complying with the requirements of the Data Protection Act. This means that in the provision of our services, appropriate personal information is processed and kept securely. It also means that we will never sell your details to a third party. The information you provide will remain confidential and may be used for the provision of related services. Such information may be disclosed in confidence to agents or service providers, regulatory bodies and group companies. You have the right to ask for a copy of certain information held by us in our records in return for payment of a small fee. You also have the right to require us to correct any inaccuracies in your information. The details you are being asked to supply may be used to provide you with information about other products and services either from GoldCore or other group companies or to provide services which any member of the group has arranged for you with a third party. If you do not wish to receive such contact, please write to the Marketing Manager GoldCore, 63 Fitzwilliam Square, Dublin 2 marking the envelope 'data protection'

GoldCore Archive

© 2005-2018 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules