The Fed’s system that allows banks to send money back and forth went down for several hours

in #bitcoin2 years ago

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The Federal Reserve’s system that allows financial institutions to send money back and forth electronically went down for several hours Wednesday but appeared to be coming back online later in the afternoon.

"Appeared to be? Either it was or it wasn't. I hate weasel words. "Talk like a Lawyer" does nothing to instill confidence. Weasel words tells me that they have no clue but they don't want you to know that or that they are flat out lying.

The “operational error,” as the Fed described it, impacted multiple services, including its pivotal automated clearinghouse system, which connects depository and related institutions sending electronic credit and debt transfers


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What the hell is an 'operational error'? Does that mean some bimbo was being shagged in the computer room sat on the wrong button? Another weasel word.

It's interesting that this should happen now considering what's happening in Canada
Canadian trucker protest raises over $900000 in bitcoin

Is the Fed trying to help Fidel's lovechild try to stop it?
Canada Sanctions 34 Crypto Wallets Tied to Trucker 'Freedom Convoy'

Was the Fed trying to help the Canadian Dictatorship and screwed up? I still like the idea of Bimbo Butt Dialing...or perhaps it was both?

And then there is El Salvador.

Ecuador is attempting to cut the cord. It is trying to wean itself from the IMP tit, and succeeding?

El Salvador Becomes First Country to Approve Bitcoin as Legal Tender

El Salvador passed a new law on Wednesday that would make the small Central American country the world’s first to deem bitcoin legal tender, a move that analysts say risks putting its economy at the mercy of the digital currency’s sharp swings.

The designation allows bitcoin, the world’s largest cryptocurrency by market value, to be used to buy goods and pay taxes and bank loans. Businesses would be required to accept bitcoin for payment, with the bitcoin-dollar exchange rate set by the market.

Of course the bankers don't like it.

IMF urges El Salvador to remove Bitcoin as legal tender

of course they do but El Salvador doesn't care.

El Salvador: Who Needs the IMF When You Have Bitcoin?

Hell has no fury like a banker scorned so the IMF retaliates.

Bitcoin Adoption Contributes to El Salvador Credit Downgrade ...

El Salvador received a credit downgrade due in part to its bitcoin adoption and crypto-loving president. In a Wednesday report, Fitch Ratings cut the Central American country's credit rating to CCC from B-, putting El Salvador's debt further into junk, a term referring to a lower-than-investment-grade status.

Maybe El Salvador should 'self invest' and tell everyone else to go pound sand? Oh Wait! They are. If El Salvador is successful maybe the other Latin American States will follow their lead? Almost all the active volcanoes are south of the American southern border. If THEY are sucessful will there be BitCoin wars where the IMF sends in the UN 'Peacekeeps' much the same way the US sent in the Marines in the Banana Wars of the previous century?

Time will tell. One thing you can be sure of though is that, if it happens, you won't hear much about it from the Legacy Media.

but wait...there's more!

El Salvador Bitcoin city planned at base of Conchagua volcano

El Salvador plans to build a Bitcoin city at the base of a volcano, with the cryptocurrency used to fund the project, its president has announced.

The city will be circular to represent the shape of a large coin and will be built in the south-eastern region of La Unión, President Nayib Bukele said.

That seems to be kinda stupid. Perhaps it's an advertising gimmick.

The site would take advantage of the Conchagua volcano's geothermal energy to power Bitcoin mining, he added.

Ah! Perhaps that's not so stupid after all! They might work out pretty well.

But I digress. What EVER the caused the FED to be disrupted it shows the fallacy of the current system.

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