Our London Correspondent Nick Ayton, the Sage of Shoreditch, reports on the WannaCry ransomware outbreak and why things don’t entirely add up.
It can come as no real surprise the source of the ransomware was the secret services of the United States – NSA. Apparently, they were also hacked and the malware that targets Windows was taken.
A national security agency hacked?
As reported, the attack widely impacted many countries.
I felt the brunt of this attack when I was at Essen Train station trying to get to Dusseldorf airport on Friday 12 when all hell broke loose.
The German rail network on that rare day did not run to time, yet they also didn’t admit the issue until the red outline of the ransomware sign appeared on platform screens.
Of all countries, Russia and China were hit the hardest and yes the USA was hit the least with only Fedex apparently reporting an issue. With Edward Snowden mentioning the NSA could have prevented this attack there remain many unanswered questions.
A ploy led by the US government?
One has to suspect this is a big ploy by the US government led by the SEC and other concerned parties to discredit Bitcoin, by association. The ransom is Bitcoin after all. Ignoring the fact the most used currency that funds disruption and bad things is the US dollar.
Yes, Bitcoin was chosen for payment of the ransom because it is supposedly easy to set up and is technically anonymous, but those in the community all know this isn’t true. And all Bitcoin transactions leave a trail.
Is the fact the NSA could have prevented this and the fact that the US was not really impacted the biggest clue of all?
The accusations that China and Russia are hacking the world and focusing on the USA seem to run counter to what we have witnessed this weekend.
Strange, the malware targets those computers with Microsoft, still the most widely used computer software. And yes, the most hacked given the age of some of the implementations at the UK’s NHS that run Microsoft XP, would you believe, and then the UK Government’s claim that they are investing in the NHS and hospital care.
It all seems a bit odd and doesn’t resonate with the punters that have had their operations delayed and left hanging on, stressing a system that is already creaking at the edges, the sides, the center and the core.
And yet, these ransomware attacks and the fines being asked pale in significance compared to bank crimes by those inside and the fraudsters that attack them every day. Billions taken, lost and removed but then the money they take isn’t real money as we know.
Scaring people off
So, it is a ploy to discredit Bitcoin, the crypto community.
A community that is now vast, growing rapidly and touching everything. A world that offers hope to the people and spells problems for those trying to keep power.
It is overwhelmingly a ploy especially given the SEC’s position as they are those who are pushing the EU and ECB to begin blocking (regulate) users of cryptocurrency, in a vague attempt to regulate it, to control it, to scare people off.
Yet, this isn’t the first nor will it be the last time when something of the kind comes along for the benefit of the people and not those who want control.
Yes they fail
Remember these same authorities tried to control, regulate and influence the Internet, regulate good old TCP/IP and YES they failed after many attempts.
Crypto economics is for the people, it isn’t owned or controlled and it is fundamentally liberating.
It has the potential to connect the world and give a lifeline to those disadvantaged, the poor, the less well educated.
But then the white elite don’t want this as there would be nobody to do the work and bail out the banks again as the next financial bubble hits.
With the build up of new subprime – car loans, student loans and yes housing - it will soon be upon us.
Central banks are in on it
So here is the thing, the German central bank told everyone not to buy Bitcoin because it isn’t real.
A bit rich given they have allowed Deutsche Bank to be more than 40 times over-leveraged and on the verge of collapse that would bring down the euro when you consider Lehman Bros was only 30x and we know what happened them. BOOM!
They are stating, stick to the euro and dollar “to protect purchasing power.” Are they mad? These currencies are falling, devaluing because of the overuse of QE and central banks that don’t understand the current climate as their models don’t work anymore and they know these currencies will be worthless very soon.
How many central banks hold negative rates? A lot, and it is clear fractional reserve banking doesn’t work and people want answers.
Crypto future is bright
The overarching strategy seems to be the authorities trying to scare people away from Bitcoin and other cryptocurrencies, mentioning the risk, that they are not real currencies, they are the reason for ransomware and a bubble about to go pop.
But why then are most central banks, governments and larger banks involved in cryptocurrencies, investing heavily with many citing it as the future of capital markets?
Are we really to believe anything the FED, SEC, EU, ECB, BoE and FSA says in the era of “fake news” or politically aligned agendas?
They know the “worm has turned,” demonstrated by Trump and Brexit effects, where the vast majority of middle classes that have been asked to close the deficits and pay for bailouts are disillusioned with decision making, have lost faith and trust in the political systems and won’t stand for the “bullshit” anymore.
End of banking
As I have said before, the next crash will spell the end of banking in its current form. The last nail as the public won’t stand for it, as few are held accountable as nothing changes as we go from one crisis to another, and governments are apparently asleep at the wheel - with one eye open.
Crypto is a new hope, an equalizing effect free from government tampering, without a concept of credit or debt where all transactions are transparent, guaranteed and auditable, leaving no room for the boys club and mates to benefit from a rising or falling market.
It is time to buy more Bitcoin, not less, if for no other reason than organizations and governments who are now stockpiling the crypto to be able to pay ransoms, as they continue to leave their systems vulnerable and open for our personal data to be hacked and our lives altered.
Organizations run by bureaucrats whose only remit is to try to stay in power and have no clue what is really coming.
I feel really sorry for those who have had operations canceled in the UK and in Russia, whose lives were put in great danger by this ransomware attack. Where the conditions and the tools to create it came from we may never know. I will let you be the judge.