It’s Go Time For The Economic Collapse, Be Prepared! – Episode 93

youtube_gotime_economic_collapse2In this report we will discuss the latest news on the economic collapse. There are many false flags coming up in the next couple of weeks.  What do we know, the gun bill, CISPA bill and the UN arms treaty are pending in the senate.  We have a cyber attack drill happening on Friday, June 28.  Gun marches are planned during the week of July 4 and we had inside information from a DHS insider saying that something is going to go down during this time period.  Everyone needs to prepare now for the collapse.

Please check the Sentinel Alerts for the latest news on the economic collapse. The Sentinel Alerts are updated throughout the day. If you haven’t already, go to “The People” and join the community of people who are helping each through the economic collapse


Current News


Economy

Get them to write a big check:’ Irish banker pulls bailout figure from ‘arse’ in leaked tapes

Lets think about this for a second, the banks created the securities, the banks then caused the problem, the banks then needed money to get out of the situation they put themselves into.  So basically they stole the money from the people.

  • Executives at the Anglo Irish Bank were recorded joking about how they lied to Dublin about the bank’s financial future in 2008, convincing lawmakers to invest in the failing bank with figures “picked out of my arse” – with no plans to pay them back.
  • John Bowe, the head of capital markets for Anglo Irish, was recorded laughing as he explained to Peter Fitzgerald, the former head of banking, how Anglo Irish had fleeced the Irish government into providing billions of euro to keep the bank solvent.
  • The 2008 conversation was captured by the bank’s internal recording system and published by the Irish Independent. Ireland still has yet to fully recover from the financial crisis, despite attempts to bring the country back to normalcy by way of a drastic austerity program set in motion in the four years since.
  • In the September 2008 conversation caught on the tape, Bowe admits he knew the €7 billion he initially asked for would not be enough to spare the bank, which was within mere days of a complete meltdown. When asked about the origin of that figure, Bowe referred to then-Anglo Irish CEO David Drumm.
  • “Just as Drummer would say, ‘picked it out of my arse,’ you know,” he said. “I mean, look, what we did was we basically said: ‘What is the amount we can securitize over the next six months? And basically say to them: ‘Look our problem here is time, it’s not our ability to create the liquidity, the enemy is time here.’”
  • Both Bowe and Fitzgerald can be heard laughing through the discussion. The tapes’ release also confirms the long-held suspicion that Irish bankers knew the initial government investments were far too small.
  • “Yeah and that number is seven, but the reality is that actually we need more than that,” Bowe said. “But you know, the strategy here is you pull them in, you get them to write a big check and they have to keep – they have to support their money.”

 Cyprus is not seeking to renegotiate the Memorandum, Spokesman says

Basically the bail-in did not work for Cyprus, it was not suppose to. It was a test of the FDIC/Bank of England document and to see how people would react to bank holidays and the robbing the people of their wealth. The test worked the people did nothing and now Cyprus is in a deep recession, business have closed, people are on the street and unemployment has never been higher.

  • Cyprus is not seeking to renegotiate the memorandum agreed with the Troika, Government Spokesman Christos Stylianides said on Wednesday, commenting on a report by the “Financial Times.”
  • “For the government there was not and there is no question of renegotiating the memorandum,” Stylianides said commenting on the report.
  • “The President`s letter that was leaked to the press does not imply such a thing,” he pointed out, noting “the consistent and disciplined implementation of the memorandum is the best way to exit the memorandum and the loan agreement the soonest possible.”
  • Stylianides pointed out that “identifying some practical difficulties and looking for collective solutions with our partners within the European institutions does not translate, under any circumstances, into a refusal to implement the agreement.”
  • He recalled that such practical solutions have been given to Greece, Portugal and Ireland, which are under an adjustment programme.
  • “Cyprus may possibly need such adjustments on the basis of practical solutions. There is no question of renegotiating the memorandum. What we are seeking is to resolve practical problems, always in the context of implementing the memorandum,” he added.
  • On March 25, Cyprus agreed with the European Commission, the European Central Bank and the International Monetary Fund, collectively known as the Troika, on a €10 billion bailout, which included the winding down of the island`s second largest bank, whose assets and employees were absorbed by Bank of Cyprus (BoCY), the island`s largest lender, which is currently undergoing a major restructuring. Moreover, the bailout featured bailing in uninsured deposits in BoCY to cover the bank`s capital shortfall.
  • In his letter to Cyprus` lenders, Anastasiades said that the bail-in was implemented without careful preparation and underlined that as a result the economy is driven into a deep recession, leading to a further rise in unemployment and making fiscal consolidation all the more difficult.

 China, Russia and the US sets up a rival to big three ratings firms

China and Russia are creating a rating agency to compete with the corrupt rating agencies in America. S&P is being sued by the government so they cannot give an honest rating other rating agencies are banned from rating the government

  • The new credit agency, the Universal Credit Rating Group, has been set up a rival the existing agencies Moody’s, S&P and Fitch. It will based in Hong Kong, and provide a check on the big three, whom some analysts say have contributed to the 2008 crisis.
  • Dagon, RusRating and America’s Egan-Jones Ratings will have equal shares in the venture, with an initial investment of $9 million.
  • The newcomer to the market is intended to provide some balance to the so-called Big Three which have strongly dominated the industry. Though rating agencies are a part and parcel of the global financial system, they were little known before the crisis. After the global turmoil broke out in 2008 Moody’s, S&P and Fitch were strongly criticized for over-estimating complex mortgage-backed investments and thus persuading investment in “bad assets” by those who initially didn’t want to take up the risk. It became one of the key triggers to the current economic crisis.
  • Ratings by the three global agencies have been used as guidelines for investors in their decision making, as they indicate to buyers of debt the probability of the debt being paid back.
  • Universal is to operate under a “dual-rating” system, which means other local agencies would also be involved and issue their own ratings. This will enable investors to “see there is a difference of view and then the investors can make their own mind up,” CNN quotes Universal CEO Richard Hainsworth, who is also president of RusRating.
  • Experts say the move is definitely in the right direction, but it’ll take Universal time to win credibility.
  • “Anything to introduce greater competition … will encourage everybody to have better discipline. But I think it will take time for this new rating agency to establish itself,” Avonechith Siackhachanh, senior advisor in the Asian Development Bank’s Office of Regional Economic Integration, told CNN.
  • Just a day before the deal Moody’s downgraded the Hong Kong banking sector outlook to negative, referring to negative interest rates and the chances of a Hong Kong property bubble.

A Major Egypt Bank Runs Now Taking Place

  • Seems in Egypt there’s already a “bank run”
  • Today I was at #CIB Bank.. there was NO CASH everyone is rushing to withdraw money before #June30..Supermarkets are raided.. shelves r empty
  • There is no gas for cars in Egypt, markets and grocery stores are closing, no money in the banks, what the actual hell
  • CBE urges Egypt banks to keep extra cash in run-up to 30 June rallies
  • In advance of upcoming 30 June anti-govt rallies, Central Bank of Egypt (CBE) tells local banks to keep extra cash on hand to avoid possible currency shortages
  • The Central Bank of Egypt (CBE) has asked banks operating in Egypt to keep extra cash balances for at least five working days in order to prevent cash shortages in advance of planned anti-government demonstrations on 30 June, Al-Ahram’s Arabic-language news website reported on Tuesday.
  • The decision, signed by CBE Deputy Governor Gamal Negm, urged banks to maintain extra cash reserves at all their branches nationwide rather than concentrating reserves at their Cairo branches.
  • Hazem Hegazi, head of retail at the National Bank of Egypt, told Al-Ahram’s Arabic-language news website that the bank’s 305 branches would remain open on 30 June.

 Wow: Nearly All Americans Living Paycheck-to-Paycheck

  • The economy isn’t getting better and the unemployment numbers we keep seeing are far from accurate. According to CNN Money, 76 percent of Americans are living paycheck-to-paycheck.
  • Roughly three-quarters of Americans are living paycheck-to-paycheck, with little to no emergency savings, according to a survey released by Bankrate.com Monday.
  • Fewer than one in four Americans have enough money in their savings account to cover at least six months of expenses, enough to help cushion the blow of a job loss, medical emergency or some other unexpected event, according to the survey of 1,000 adults. Meanwhile, 50% of those surveyed have less than a three-month cushion and 27% had no savings at all.
  • “It’s disappointing,” said Greg McBride, Bankrate.com’s senior financial analyst. “Nothing helps you sleep better at night than knowing you have money tucked away for unplanned expenses.”
  • Even more disappointing; The savings rates have barely changed over the past three years, even though a larger percentage of consumers report an increase in job security, a higher net worth and an overall better financial situation.
  • Meanwhile, a new Rasmussen Report shows the majority want the government to cut spending in order to spur economic growth. Source
  • Related Posts
  • Bonuses for Top 1% Bureaucrats Comin’ Again On Your Watch
  • Fed Crashes Markets to Defend against Dollar Collapse
  • Obama’s family vacation to Africa to cost taxpayers $100 million – Back to the Homeland
  • U.S. Military to Shred Thousands of Million-Dollar Armored Vehicles in Afghanistan
  • Emergency manager: Detroit won’t pay $2.5B it owes

Nothing Says Economic Recovery Like Mass Layoffs

The stock market is completely disconnected from the rest of the economy. This happened in the Great Depression and in 2008.

  • Nothing says economic recovery like one of the most profitable and prestigious law firms in the nation announcing mass layoffs for the first time in 82 years. Yep, four years after the so-called “recovery” began, things are so good that Weil, Gotshal & Manges has decided to cut 7% of its associates and slash annual compensation for 10% of its partners by hundreds of thousands of dollars.
  • As the article below notes, there is still massive overcapacity in the legal profession and this announcement is likely to spark a wave of layoffs in the industry. Not to worry though, Blackstone will continue to place all cash bids on empty homes in Nevada and Arizona. From the New York Times’ Dealbook:
  • One of the country’s most prestigious and profitable law firms is laying off a large number of lawyers and support staff, as well as reducing the pay of some of its partners, a surprising move that underscores the financial difficulties facing the legal profession.
  • Sixty junior lawyers, known in law firms as associates, will lose their jobs. That amounts to roughly 7 percent of Weil’s associates. Roughly 30 of the firm’s 300 partners are having their annual compensation reduced, in many cases by hundreds of thousands of dollars. And 110 staff employees – roughly half of them legal secretaries – are being let go.
  • Dan DiPietro, chairman of the law firm group at Citi Private Bank, said that there were too many lawyers at the country’s largest firms, estimating the excess capacity at as much as 10 percent of the lawyer population. He believes that the profession could possibly experience a wave of job cuts.
  • “Our market share has been improving, but the market has been shrinking,” Mr. Wolf said.
  • We believe that this not just a cycle but that the supply-demand balance is out of whack across the industry,” he said. “If we thought this was a cycle and our business was going to pick up meaningfully next year, we would not be doing this.”
  • The mass layoffs are the first in the 82-year history of Weil, which has 21 offices across the globe and headquarters high above Fifth Avenue in the General Motors building, one of New York’s most coveted business addresses. Last year, the firm posted revenue of about $1.2 billion, and its profits per partner ranked 13th of all firms nationwide.
  • Several industry experts informed of Weil’s decision applauded the move. Peter Zeughauser, a law firm consultant, said that many firms were in denial about the continued slack demand for their services, and Weil’s cutbacks could pressure them into getting leaner.

The 441 TRILLION Dollar Interest Rate Derivatives Time Bomb

  • Do you want to know the primary reason why rapidly rising interest rates could take down the entire global financial system? Most people might think that it would be because the U.S. government would have to pay much more interest on the national debt. And yes, if the average rate of interest on U.S. government debt rose to just 6 percent (and it has actually been much higher in the past), the federal government would be paying out about a trillion dollars a year just in interest on the national debt. But that isn’t it. Nor does the primary reason have to do with the fact that rapidly rising interest rates would impose massive losses on bond investors. At this point, it is being projected that if U.S. bond yields rise by an average of 3 percentage points, it will cause investors to lose a trillion dollars. Yes, that is a 1 with 12 zeroes after it ($1,000,000,000,000). But that is not the number one danger posed by rapidly rising interest rates either. Rather, the number one reason why rapidly rising interest rates could cause the entire global financial system to crash is because there are more than 441 TRILLION dollars worth of interest rate derivatives sitting out there. This number comes directly from the Bank for International Settlements – the central bank of central banks. In other words, more than $441,000,000,000,000 has been bet on the movement of interest rates. Normally these bets do not cause a major problem because rates tend to move very slowly and the system stays balanced. But now rates are starting to skyrocket, and the sophisticated financial models used by derivatives traders do not account for this kind of movement.
  • So what does all of this mean?
  • It means that the global financial system is potentially heading for massive amounts of trouble if interest rates continue to soar.
  • Today, the yield on 10 year U.S. Treasury bonds rocketed up to 2.66% before settling back to 2.55%.  The chart posted below shows how dramatically the yield on 10 year U.S. Treasuries has moved in recent days…

 Bond Fund Outflows Hit Record Level on Tapering Fears

Everyone knows the FED is the market, if they leave the market goes with them.  They are in the process of transferring as much wealth to themselves.  If any investor or country is holding a treasury bond it will be worthless when it collapses

  • Mutual and exchange-traded funds hemorrhaged a record volume of bonds in June, according to a fresh report by TrimTabs Investment Research, as investors fear the impact of a scaling back of the U.S. Federal Reserve’s bond purchasing program.
  • “Fund investors are unloading bonds at a record pace. The combined outflow of $47.2 billion is the highest in any month on record, handily eclipsing the previous record of $41.8 billion in October 2008,” said TrimTabs CEO David Santschi, in a report released on Monday.
  • The global sell-off in bonds began on May 22, after the minutes of the Fed’s policy meeting signaled that its bond-buying program—which has suppressed yields and boosted stocks—could soon be pared back. Fed Chairman Ben Bernanke echoed these comments at a press meeting last Wednesday, suggesting that asset purchases could be scaled back later this year, if economic data continued to show improvement.
  • (Read More: Bonds Could Lose $1 Trillion on Yield Spike: BIS)
  • Bond market outflows continued on Monday, pushing the yield on 10-year U.S. Treasurys to 2.61 percent, close to a 2-year high. Yields on euro zone government bonds also surged upwards, with German 10-year bund yields hitting 1.78 percent, a high not seen since April 2012.

Mini Bubble 2.0 Is Back! Is This Why The Fed Start Trying To Deflate It?

Lets use some common sense here, if we use the real calculation of unemployment the unemployment rate is around 23%. Then we have those that foreclosed or had a short sales with their homes in 2008.  The majority of people are under employed or are living pay check to pay check.  Companies are now having mass layoffs, IBM etc, and retailers are closing thousands of stores and laying off people. So with all of this going on the real estate market is bouncing back?

Zillow 30-Year Fixed Mortgage Skyrockets By Massive 50 bps In One Week To 4.38%, Most Since 2011

The 30-year fixed mortgage rate hovered between 3.82 and 4 percent late last week, before spiking up near the current rate over the weekend.

  • 1. Housing Price Inflation without income growth: When prices of homes rise faster than incomes, buyers become priced out of the market. While home prices, year over year, are on the rise, average incomes are not keeping pace. This is not a good long-term trend. Cash buyers are currently 30% of the market, and cash buyers have no debt to income problems. These buyers are helping price some primary mortgage home buyers out of the market.
  • 2. Demand light from first time buyers: Even with historically low-interest rates hovering in the 3.25- 3.75% range, we are hearing cries that mortgage lending is too tight, and that would be first time buyers are having trouble qualifying for a loan. Even in 2013, first time home buyers are running at a 30% level, lower than the historical norms of 40-43%. What happens when interest rates rise (as they inevitably will do) ? Unless we see good income growth, those that can’t qualify now will have a much harder time qualifying when mortgage rates are higher.
  • 3. Mini-Bubble 2.0: The main reason home prices are rising at current pace is that on-sale inventory is so low. There continue to be problematic numbers of homes underwater, many Americans in the 90-99 LTV range, which means these homeowners will not be putting their homes into the for sale inventory. Further, there has been a big drop in home construction in the last 5 years. Though that number is getting better each year, we are not building homes fast enough to make a significant push into inventory. Finally, properties in distress take a long time to get to market and we have still have roughly 5 million homes that are either delinquent or in the foreclosure process. So long as these factors exist, then there remains the possibility that the few properties there are, are being inflated to unrealistic levels, and that mini bubble in prices will get bigger.
  • It would be wonderful if the good news being reported by many is actually good long-term news as well. But, in my view, the recent rise in home prices , without the corresponding increase in real incomes, and new home purchase mortgage applications being approved, then the truth seems to be more like the truth for our fateful Wooly Mammoth. Sometimes the initial problem becomes insignificant, though contributory, to the much worse problems to come.

War

 

Syrian conflict spills over into Lebanon

  • Lebanese government troops have fought heavily armed Sunni Muslim gunmen in the southern city of Sidon, as the war in Syria begins to engulf its smaller neighbour.
  • At least 16 soldiers were killed and dozens more injured in clashes with militiamen loyal to the outspoken Sunni cleric Sheikh Ahmed al-Assir, in some of the worst fighting in Lebanon since the start of the Syrian civil war.
  • As dozens of troops advanced in armed personnel carriers, the military appealed to the gunmen to surrender, promising it would “uproot the strife and would not stop its operations until security is totally restored”.
  • The two-year conflict in Syria has reignited sectarian enmities in Lebanon, threatening a return to the bloody days of its 15-year civil war. Tensions have grown in Sidon, with Sheikh Assir calling for the disarming of the powerful Lebanese Shia militia group Hezbollah. In a series of media stunts, including the blocking of the highway to Sidon, Sheikh Assir had appeared to position himself as a leader for Lebanon’s Sunni Muslims.
  •  
  • Hezbollah’s announcement that it is fighting in Syria alongside President Bashar al-Assad has brought the embittered relationship with Sunni groups in Lebanon to the brink of war.
  • Fighters from Hezbollah were reported to have joined the fight against Sheikh Assir.
  • “Today I am reminded of the atmosphere that brought the civil war in 1975. Then I used to hear the sounds of the shelling and of the snipers,” said Omar Saad, a Sidon-based politician with the pro-Assad March 8 movement. The 1975 killing of his father Maarouf Saad ignited the country’s civil war. “This is bitter experience to be repeated again. We must deliver this warning to the younger generation,” said Mr Saad.

 

Russia plans further ‘modernization’ of Armenia base

Russia getting everything in place for the WWIII. They know its a matter of time and the US will not stop until they get the war going.  The Central Bankers need the war to cover up the economic collapse.

  • Russia considers its military base in Armenia to be vital for the South Caucasus country’s national security and will continue to strengthen it with modern weaponry, a visiting top Kremlin official said on Monday, Asbarez.com reported.
  • “I think the presence of Russian servicemen is a guarantee that there will be no negative developments in Armenia,” Nikolay Patrushev, the secretary of Russia’s Security Council, said at the headquarters of the base in the northwestern Armenian city of Gyumri.
  • “It’s a very modern, good military base that will continue to be modernized,” he told journalists there.
  • Asked what concrete forms that modernization will take, Patrushev said, “The [Russian and Armenian] ministers of defense are dealing with that. They have a plan. The military base will evolve and be modernized. I must point out, though, that it is already combat-ready and able to accomplish any task.”
  • Moscow has already bolstered the Soviet-era facility with new military hardware since the signing in 2010 of an agreement with Yerevan that extended the Russian military presence in Armenia until 2044. The agreement also upgraded the base’s security mission, leading Armenian officials to imply that 5,000 or so Russian soldiers serving there would intervene in case of another war with Azerbaijan.
  • As well as helping the Armenian military and strengthening its military base, Russia has been selling weapons to Azerbaijan, however. Patrushev effectively confirmed the sale of $1 billion worth of Russian tanks, artillery systems and other weapons to Azerbaijan, which was reported by Russian media last week. “Russia engages in trade with all countries and any country can legally buy weapons from Russia,” he said when asked about those reports.
  • The Russian arms supplies to Azerbaijan have prompted serious concern from Armenian analysts and opposition figures. Some of them have accused Moscow of betraying Armenia, its main ally in the region. The Armenian government has dismissed such concerns, saying that the reported deliveries will not change the balance of forces in the Nagorno-Karabakh conflict.
  • Patrushev traveled to Gyumri on the second day of his visit to Armenia that began with a meeting with President Serzh Sarkisian. A statement by Sarkisian’s press office said the two men discussed “regional developments challenges” and the Karabakh peace process.
  • Patrushev’s Armenian opposite number, Artur Baghdasarian, told RFE/RL’s Armenian service on Friday that the Russian official’s visit will result in a new Russian-Armenian agreement relating to defense and security. He declined to elaborate.

Police State

DHS no longer conducts regular background checks of immigration applicants

  • DHS is no longer conducting ordinary background checks because of the increase in the volume of amnesty applications which followed President Obama’s executive order, which took effect on 15 August last year. Skeptical lawmakers may wonder whether DHS can handle the millions of applications which will follow the immigration bill if it is passed, if the department cannot handle the hundreds of thousands which followed the executive order.
  • Last week Judicial Watch, a government watchdog group released a report showing that DHS is no longer conducting ordinary background checks because of the increase in the volume of amnesty applications which followed President Obama’s executive order, which took effect on 15 August last year.
  • The Foundry notes this move by DHS may persuade undecided senators to oppose the immigration bill, because they would wonder how DHS will manage more than ten million amnesty applications if an immigration bill is passed.
  • Under the Senate immigration bill, the majority of the 11.5 million illegal immigrants in the United States would have to pass a background check to be granted registered provisional status. DHS would now only have six months to prepare for the amnesty applications and background checks.
  • The agency will also have to create a border security plan, a biometric entry-exit system, administer new visas, oversee a new agricultural worker programs, and develop a new employment verification program.
  • The report, which Judicial Watch assembled from e-mails and other documents obtained through the Freedom of Information Act, says that DHS agents operated under irregular and inconsistent orders when it came to managing Deferred Action for Childhood Arrivals (DACA) applications. As a result, DHS, in September 2012, adopted a “lean and light” system of background checks, in which only a few randomly selected applications were processed.
  • The report goes on to say that three days after Obama was re-elected, DHS was told to “put all DACA work on hold until further notice.” Judicial Watch says it received no documents showing on when DHS will resume background checks, or whether they have been resumed.

False Flags

Cyber Attack Drill On Wall Street June 28th

July 1 – 4 NYC Chemical Drill, March on DC with Toy Guns, March on State Capitals with or without loaded weapons by gun owners.  Movies depicting DC exploding, Wall Street being Attacked


Cyber Attacks

 Cyber attack hits South Korea websites

  • South Korea has issued a cyber alert after an apparent hacking attack on government websites.
  • The website of the presidential office was one of several official and media sites hit by an apparently co-ordinated attack on Tuesday morning, reports said.
  • The identity of the hackers was not known, a government statement said.
  • The incident came on the anniversary of the start of the 1950-53 Korean War, which divided the Korean peninsula.
  • “The government can confirm a cyber attack by unidentified hackers that shut down several sites including the Blue House,” the Science Ministry said in a statement, referring to the presidential office.
  • The website for the office for Government Policy Co-ordination and some media servers were also said to be affected by the attack.
  • ‘Anonymous messages’
  • Messages praising North Korean leader Kim Jong-un and claiming that hacking collective Anonymous was responsible were left on the hacked websites.
  • However, Anonymous denied any involvement in the South Korean cyber-attacks on its official Twitter account, AFP news agency reported.
  • Instead, the “hacktivist” group was said to have planned attacks against North Korean websites.
  • A number of North Korean websites went offline on Tuesday morning and appeared to have been targeted by hackers on Tuesday, South Korea’s Yonhap news agency reported, citing unnamed sources.
  • These included the websites of North Korea’s Korean Central News Agency, newspaper Rodong Sinmun, and portal Naenara.
  • Anonymous has previously claimed to have hacked and vandalised social networking profiles linked to North Korea as part of its Operation Free Korea.
  • South Korea has raised its cyber-alert level, and asked citizens to review their internet security, the BBC’s Lucy Williamson in Seoul reports.
  • South Korean investigators say North Korea has frequently carried out cyber attacks in the South, our correspondent adds.

 Global Survey Finds 80 Percent Believe Cyber-Attacks Pose a Greater National Threat than Physical Attacks

They have now set the stage, the people of the world know about cyber attacks, they understand that they are more dangerous than a physical attacks. The governments and Central Bankers have worked on convincing the world that cyber attacks are the main threat.  Be prepared the cyber attack will be the main event to do the following if not done already, declare martial law, get all guns from the people, rob the people of their money and wealth and get us into war

  • Cyber-Ark’s 7th Annual Advanced Threat Survey Finds More than Half of All Businesses Believe Hackers are Already Inside Their Networks; 57 Percent Put ‘Too Much Faith in Perimeter Security’
  • NEWTON, Mass. —
  • Eighty percent of C-level executives and IT security professionals believe that cyber-attacks pose a greater risk to their nation than physical attacks, while 51 percent believe a cyber-attacker is currently in their corporate network, or has been in the past year. The findings are part of Cyber-Ark’s 7th annual Global Advanced Threat Landscape survey – developed through interviews with 989 IT and C-level executives across North America, Europe, and Asia Pacific. The full survey can be downloaded for free here.
  • Analysis of this year’s survey shows that continued reports of nation-based attacks on global critical infrastructure and businesses, combined with high-profile data breaches such as the NSA leak, have made the industry acutely aware of the threat that today’s cyber-attackers pose. Despite this awareness, businesses still have a lot of work to do to secure the enterprise from advanced attacks. Cyber-attackers are continuing to breach perimeter security at an accelerated rate. As a result, businesses need to assume the attackers are already inside their network and focus on securing the access points to the critical data and assets that the attackers covet.
  • Key findings of the 2013 survey include:
  • Advanced Attacks Represent Grave Threats to National Security, Business and the Economy
  • 80 percent of respondents believe that cyber-attacks pose a greater threat to their nation than physical attacks.
  • In last year’s survey, 71 percent of respondents indicated they were more fearful of insider attacks than outside cyber-attacks, but almost two thirds of respondents indicated that external cyber-attack threats would become a greater security risk in 1 to 3 years1. This year’s survey validates that notion.
  • 61 percent of respondents believe that government and legislative action can help protect critical infrastructure against advanced threats. This number was the lowest in the U.S., where only 57 percent believe legislation will be an effective tool, as opposed to 64 percent of respondents in Europe and 61 percent in APAC.
  • “People around the world are acutely aware of the global threat cyber-attacks represent. Cyber-attackers have repeatedly demonstrated the ability to disrupt national financial systems, cause harm to critical infrastructure and severely damage businesses and economies,” said John Worrall, CMO of Cyber-Ark. “To achieve their goals, outside attackers must steal the privileged credentials of an authorized user to gain the access necessary to meet their objectives. This level of threat requires a proactive approach to security that protects and monitors the access points to the critical data and assets that attackers are targeting.”

 


Other News

Not Prepared: 17 Signs That Most Americans Will Be Wiped Out By The Coming Economic Collapse

  • The vast majority of Americans are going to be absolutely blindsided by what is coming. They don’t understand how our financial system works, they don’t understand how vulnerable it is, and most of them blindly trust that our leaders know exactly what they are doing and that they will be able to fix our problems. As a result, most Americans are simply not prepared for the massive storm that is heading our way.
  • Most American families are living paycheck to paycheck, most of them are not storing up emergency food and supplies, and only a very small percentage of them are buying gold and silver for investment purposes. They seem to have forgotten what happened back in 2008. When the financial markets crashed, millions of Americans lost their jobs. Because most of them were living on the financial edge, millions of them also lost their homes.
  • #1 According to a survey that was just released, 76 percent of all Americans are living paycheck to paycheck.
  • 2 27 percent of all Americans do not have even a single penny saved up.
  • #3 46 percent of all Americans have $800 or less saved up.
  • #4 Less than one out of every four Americans has enough money stored away to cover six months of expenses.
  • #5 Wages continue to fall even as the cost of living continues to go up. Today, the average income for the bottom 90 percent of all income earners in America is just $31,244. An increasing percentage of American families are just trying to find a way to survive from month to month.
  • #6 62 percent of all middle class Americans say that they have had to reduce household spending over the past year.
  • #7 Small business is becoming an endangered species in America. In fact, only about 7 percent of all non-farm workers in the United States are self-employed at this point. That means that the vast majority of Americans are depending on someone else to provide them with an income. But what is going to happen as those jobs disappear?
  • #8 In 1989, the debt-to-income ratio of the average American family was about 58 percent. Today it is up to 154 percent.
  • #9 Today, a higher percentage of Americans are dependent on the government than ever before. In fact, according to the U.S. Census Bureau 49 percent of all Americans live in a home that gets direct monetary benefits from the federal government. So what is going to happen when the government handout gravy train comes to an end?
  • #10 Back in the 1970s, about one out of every 50 Americans was on food stamps. Today, about one out of every 6.5 Americans is on food stamps.
  • #11 It is estimated that less than 10 percent of the U.S. population owns any gold or silver for investment purposes.
  • #12 It has been estimated that there are approximately 3 million “preppers” in the United States. But that means that almost everyone else is not prepping.
  • #13 44 percent of all Americans do not have first-aid kits in their homes.
  • #14 48 percent of all Americans do not have any emergency supplies stored up.
  • #15 53 percent of all Americans do not have a 3-day supply of nonperishable food and water in their homes.
  • #16 One survey asked Americans how long they thought they would survive if the electrical grid went down for an extended period of time. Incredibly, 21 percent said that they would survive for less than a week, an additional 28 percent said that they would survive for less than two weeks, and nearly 75 percent said that they would be dead before the two-month mark.
  • #17 According to a survey conducted by the Adelphi University Center for Health Innovation, 55 percent of Americans believe that the government will come to their rescue when disaster strikes.
This entry was posted in Cyber Attacks, Economy, False Flags, Government, War and tagged , , , , , , , . Bookmark the permalink.

Comments are closed.