“The banking system is not prepared for power outages! » Editorial by Charles SANNAT – Insolentiae

“The banking system is not prepared for power outages!  » Editorial by Charles SANNAT - Insolentiae

My dear impertinent, dear impertinent,

This is an article sent to me by our comrade Christophe, the official correspondent of our community of friends in Germany. I appointed him as a volunteer so let’s not insist too much!

In short, Christophe still found it very relevant, and I share his opinion, to investigate this history of power outages and the effects and impacts of such power outages on the banking system in particular and the financial system in general.

And that is a very good question that you will notice the absence of in our media.

In France, you shouldn’t be so interested in what they tell you, as in everything they don’t tell you.

The silences say more about the risks.

In Germany the report is clear, net, precise and impeccable.

“Imminent power outages endanger the functioning of European banks”

In France, no problem.

Each bank branch has a generator to supply the ATM, the cash dispenser, in case of emergency.

Each agency has its own back-up system so that all the computers work and that the reception of the public is possible in all circumstances.

Finally, all data is housed in ultra-secure data centers with full power redundancy, allowing these sites to last for weeks without an external power source.

But no, I’m kidding!

We don’t have any of that!

Hahahahahaha.

There is no more redundancy than the generators at your local branch.

When the power is cut off, it will be cut off for all banks.

You will not be able to withdraw money from the ATM any more than you can with an internet transfer because nothing will work!

Do not imagine that you will use the application on your smartphone. The repeater antenna in your neighborhood will also be in the dark, and if by some miracle it lasts a few more hours with its battery, the networks will be totally saturated.

Hahahahahaha.

Life in 2022 without current is like saying.

How do you find an analogy?

It’s a bit like the Amish, it’s back to carts and cash.

Well, that said, all supermarket cash registers will be HS, so you won’t be able to pay in cash but by card. Let’s say, however, that with a little cash you can buy a country loaf at the local bakery, but even that isn’t easy.

Let’s give the floor to this German article.

“Due to potential power outages, European banks are currently under pressure to act. Because in an emergency, transactions must be recorded retrospectively, for example.

Imminent power outages endanger the functioning of European banks
Banks in Europe must prepare for the power outages that are expected due to the energy crisis.
Read this article:

Why European banks are preparing contingency plans
How unprepared banks are for longer blackouts
How a bank failure would send the entire economy into a downward spiral.”

Due to potential power outages, European banks are currently being forced to act. In the event of an outage, for example, transactions must be recorded retrospectively.
Due to the importance of payments and transactions for the European economy, already hit by inflation and the energy crisis, the pressure to act is strong for financial companies. Control authorities are on high alert.

The European Central Bank and the UK’s Prudential Regulation Authority (PRA) require credit institutions to have contingency plans to deal with potential power outages.
Experts fear that almost no establishment is prepared for prolonged power outages of more than a few days. “This represents a serious gap in resiliency planning,” says Avi Schnurr, director of the Electrical Infrastructure Safety Council, a think tank that advises on preparedness for such hazards.

“This represents a serious gap in resilience planning”

Hahahahaha, I haven’t laughed so hard in a long time. At least since yesterday, since our mamamouchis are above zero (it’s like bravery but less).

A gap in resilience planning.

Hahahahahahahaha.

They are just totally overwhelmed.

“When events are beyond us, we pretend to be the organizers. »

They don’t know how to do better than that.

So get some money, buy toilet paper, have enough to heat up a meal (camping gas) because cold canned ravioli is not bad and take charge of your own energy, economic, professional resilience, etc.

Don’t expect anything from the state.

It will always be too little too late… and with your money!

Go one last for the road.

It’s Friday, you have to have a whole weekend of fun.

“Swiss insurer Zurich wants to take measures to save energy in a way that customers don’t notice, if possible. In this case, only certain floors of the buildings could be used, for example, the group explained. Only certain offers would end: “for example, the fitness room for employees”.

Yes, yes, my friends. To save us from global warming, Mother Michèle, who has lost her cat as everyone knows, must throw the box of nuggets into the yellow bin, while the Swiss insurance clerk from Zurich will stop exercising between noon and two to save Europe from power. failure.

Hahahahahahahahahaha.

There are also the energetic ukasas of our president Thermostat and Termolactyl. Turn off the Wi-Fi guys.

Hahahahahahaha.

We are going to have fun. We are going to curdle, but we are going to laugh a lot.

It is already too late, but all is not lost.

Get ready!

Carlos Sannat

“Insolentiae” means “impertinence” in Latin.
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