market selloff

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Bubba
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Re: market selloff

Post by Bubba »

madhatter wrote:
XtremeJibber2001 wrote:
madhatter wrote:just a what if: what if there were a cyber attack that supposedly made banking records unverifiable? a massive market crash virtually annihilated boomers savings? ( or some other national or global economic meltdown?) how many would opt for a govt "cushion" or reimbursement for cents on the dollar vs absolute zero? what say would any of us have? anything digital can vaporize w/o a trace...like the hilldogs emails ( and her presidential aspirations)...
I'll give Bubba an opportunity to respond to your what if, but Hillary's e-mail and banking records is like comparing apples to automobiles. Banks must be compliant with FBR controls as well as a myriad of other controls enforced by the OCC and other groups. These controls are reviewed and tested at least annually, if not more frequently. The problem with Hillary's e-mail is there was no enforcement with NIST and other frameworks to ensure she was compliant.

My $.02 ... those e-mails are out there. but just like your bank records if no one is willing to "find" them ya got nuttin... If they're not then there was a deliberate attempt which prevents you from suffering a loss how?to obstruct of evidence.
EMP? stuxnet? previously unknown method?...nothing is infallible nor immune from corruption...plenty of ways for "digital credits" to disappear w/ no recourse...one of the zillion things I am trying to hedge against...I'm not seeing why so many insist upon attacking a position of diversity...same boring conversation over and over again...

Not attacking, just asking. As for destruction of records, don't you get a paper statement every month? If not, and you rely solely on monthly statements on line, you would be wise to print out a copy as well.
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madhatter
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Re: market selloff

Post by madhatter »

Bubba wrote:
madhatter wrote:
XtremeJibber2001 wrote:
madhatter wrote:just a what if: what if there were a cyber attack that supposedly made banking records unverifiable? a massive market crash virtually annihilated boomers savings? ( or some other national or global economic meltdown?) how many would opt for a govt "cushion" or reimbursement for cents on the dollar vs absolute zero? what say would any of us have? anything digital can vaporize w/o a trace...like the hilldogs emails ( and her presidential aspirations)...
I'll give Bubba an opportunity to respond to your what if, but Hillary's e-mail and banking records is like comparing apples to automobiles. Banks must be compliant with FBR controls as well as a myriad of other controls enforced by the OCC and other groups. These controls are reviewed and tested at least annually, if not more frequently. The problem with Hillary's e-mail is there was no enforcement with NIST and other frameworks to ensure she was compliant.

My $.02 ... those e-mails are out there. but just like your bank records if no one is willing to "find" them ya got nuttin... If they're not then there was a deliberate attempt which prevents you from suffering a loss how?to obstruct of evidence.
EMP? stuxnet? previously unknown method?...nothing is infallible nor immune from corruption...plenty of ways for "digital credits" to disappear w/ no recourse...one of the zillion things I am trying to hedge against...I'm not seeing why so many insist upon attacking a position of diversity...same boring conversation over and over again...

Not attacking, just asking. As for destruction of records, don't you get a paper statement every month? If not, and you rely solely on monthly statements on line, you would be wise to print out a copy as well.
who you gonna show that piece of paper to? who are 100 million people gonna show a piece of paper to? especially one you printed out yourself online? as a means of proof of a claim to a few hundred thousand dollars or more? unlikely scenario in any case...like most other insurance ( ie risk management) I hope to never have to use it...the policy is paid in full ( initial investment), there are no add'l monthly premiums and it can be redeemed for cash value at nearly any time, throughout most of the world...I'm ok w that...
mach es sehr schnell

'exponential reciprocation'- The practice of always giving back more than you take....
XtremeJibber2001
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Re: market selloff

Post by XtremeJibber2001 »

madhatter wrote:unlikely scenario in any case...like most other insurance ( ie risk management) I hope to never have to use it...the policy is paid in full ( initial investment)
You bought whole life? :bang
madhatter
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Re: market selloff

Post by madhatter »

XtremeJibber2001 wrote:
madhatter wrote:unlikely scenario in any case...like most other insurance ( ie risk management) I hope to never have to use it...the policy is paid in full ( initial investment)
You bought whole life? :bang
nooooooo.....
mach es sehr schnell

'exponential reciprocation'- The practice of always giving back more than you take....
XtremeJibber2001
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Re: market selloff

Post by XtremeJibber2001 »

madhatter wrote:
XtremeJibber2001 wrote:
madhatter wrote:just a what if: what if there were a cyber attack that supposedly made banking records unverifiable? a massive market crash virtually annihilated boomers savings? ( or some other national or global economic meltdown?) how many would opt for a govt "cushion" or reimbursement for cents on the dollar vs absolute zero? what say would any of us have? anything digital can vaporize w/o a trace...like the hilldogs emails ( and her presidential aspirations)...
I'll give Bubba an opportunity to respond to your what if, but Hillary's e-mail and banking records is like comparing apples to automobiles. Banks must be compliant with FBR controls as well as a myriad of other controls enforced by the OCC and other groups. These controls are reviewed and tested at least annually, if not more frequently. The problem with Hillary's e-mail is there was no enforcement with NIST and other frameworks to ensure she was compliant.

My $.02 ... those e-mails are out there. but just like your bank records if no one is willing to "find" them ya got nuttin... If they're not then there was a deliberate attempt which prevents you from suffering a loss how?to obstruct of evidence.
EMP? stuxnet? previously unknown method?...nothing is infallible nor immune from corruption...plenty of ways for "digital credits" to disappear w/ no recourse...one of the zillion things I am trying to hedge against...I'm not seeing why so many insist upon attacking a position of diversity...same boring conversation over and over again...
EMP would have to be set off in a way to impact the Production datacenter, hot site, and cold site with tapes. This is unlikely. A hacker could wipe out a companies databases maintaining bank records, but could be restored from the hot site or restored from tape. The corporations existence depends on their ability to exist in the event of a disaster ... unlike Hillary :lol:
madhatter
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Re: market selloff

Post by madhatter »

XtremeJibber2001 wrote:
madhatter wrote:
XtremeJibber2001 wrote:
madhatter wrote:just a what if: what if there were a cyber attack that supposedly made banking records unverifiable? a massive market crash virtually annihilated boomers savings? ( or some other national or global economic meltdown?) how many would opt for a govt "cushion" or reimbursement for cents on the dollar vs absolute zero? what say would any of us have? anything digital can vaporize w/o a trace...like the hilldogs emails ( and her presidential aspirations)...
I'll give Bubba an opportunity to respond to your what if, but Hillary's e-mail and banking records is like comparing apples to automobiles. Banks must be compliant with FBR controls as well as a myriad of other controls enforced by the OCC and other groups. These controls are reviewed and tested at least annually, if not more frequently. The problem with Hillary's e-mail is there was no enforcement with NIST and other frameworks to ensure she was compliant.

My $.02 ... those e-mails are out there. but just like your bank records if no one is willing to "find" them ya got nuttin... If they're not then there was a deliberate attempt which prevents you from suffering a loss how?to obstruct of evidence.
EMP? stuxnet? previously unknown method?...nothing is infallible nor immune from corruption...plenty of ways for "digital credits" to disappear w/ no recourse...one of the zillion things I am trying to hedge against...I'm not seeing why so many insist upon attacking a position of diversity...same boring conversation over and over again...
EMP would have to be set off in a way to impact the Production datacenter, hot site, and cold site with tapes. This is unlikely. yepA hacker could wipe out a companies databases maintaining bank records, but could be restored from the hot site or restored from tape. The corporations existence depends on their ability to exist in the event of a disaster ... unlike Hillary :lol:
ok yer right its absolutely impossible to lose everything...
mach es sehr schnell

'exponential reciprocation'- The practice of always giving back more than you take....
XtremeJibber2001
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Re: market selloff

Post by XtremeJibber2001 »

madhatter wrote:ok yer right its absolutely impossible to lose everything...
If all the banks lose their data and no one has currency ... what is your gold worth? Assuming you have physical gold and not just paper.
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Re: market selloff

Post by freeski »

XtremeJibber2001 wrote:
madhatter wrote:ok yer right its absolutely impossible to lose everything...
If all the banks lose their data and no one has currency ... what is your gold worth? Assuming you have physical gold and not just paper.
It depends on whether or not the mulsims have destroyed our society.
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madhatter
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Re: market selloff

Post by madhatter »

XtremeJibber2001 wrote:
madhatter wrote:ok yer right its absolutely impossible to lose everything...
If all the banks lose their data and no one has currency ... what is your gold worth? Assuming you have physical gold and not just paper.
why would there be no currency? what there would be was catastrophic loss of savings and thus of wealth...there would still be cash, there would still be goods and services that were needed, there would still be accumulated physical assets, real estate etc etc...there would be bartering and there would also be an immediate recovery process as well...having a hedge ( or three) isn't going to make one the next gazillionaire, but it might be enough to weather the storm and still fare well...
mach es sehr schnell

'exponential reciprocation'- The practice of always giving back more than you take....
Nikoli
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Re: market selloff

Post by Nikoli »

madhatter wrote:
XtremeJibber2001 wrote:
madhatter wrote:
XtremeJibber2001 wrote:
madhatter wrote:just a what if: what if there were a cyber attack that supposedly made banking records unverifiable? a massive market crash virtually annihilated boomers savings? ( or some other national or global economic meltdown?) how many would opt for a govt "cushion" or reimbursement for cents on the dollar vs absolute zero? what say would any of us have? anything digital can vaporize w/o a trace...like the hilldogs emails ( and her presidential aspirations)...
I'll give Bubba an opportunity to respond to your what if, but Hillary's e-mail and banking records is like comparing apples to automobiles. Banks must be compliant with FBR controls as well as a myriad of other controls enforced by the OCC and other groups. These controls are reviewed and tested at least annually, if not more frequently. The problem with Hillary's e-mail is there was no enforcement with NIST and other frameworks to ensure she was compliant.

My $.02 ... those e-mails are out there. but just like your bank records if no one is willing to "find" them ya got nuttin... If they're not then there was a deliberate attempt which prevents you from suffering a loss how?to obstruct of evidence.
EMP? stuxnet? previously unknown method?...nothing is infallible nor immune from corruption...plenty of ways for "digital credits" to disappear w/ no recourse...one of the zillion things I am trying to hedge against...I'm not seeing why so many insist upon attacking a position of diversity...same boring conversation over and over again...
EMP would have to be set off in a way to impact the Production datacenter, hot site, and cold site with tapes. This is unlikely. yepA hacker could wipe out a companies databases maintaining bank records, but could be restored from the hot site or restored from tape. The corporations existence depends on their ability to exist in the event of a disaster ... unlike Hillary :lol:
ok yer right its absolutely impossible to lose everything...
Today's IT system are full redundant in eveyway imaginable. You would be surprised at the amount of money spent on doing such things. My clients require us to geo-replicate their data on 3 different continents. These 3 stores are never more than 1 minute out of sync from the primary store.
madhatter
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Re: market selloff

Post by madhatter »

Nikoli wrote: Today's IT system are full redundant in eveyway imaginable. You would be surprised at the amount of money spent on doing such things. My clients require us to geo-replicate their data on 3 different continents. These 3 stores are never more than 1 minute out of sync from the primary store.
just like this program has spellcheck...
mach es sehr schnell

'exponential reciprocation'- The practice of always giving back more than you take....
Nikoli
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Re: market selloff

Post by Nikoli »

madhatter wrote:
Nikoli wrote: Today's IT system are full redundant in eveyway imaginable. You would be surprised at the amount of money spent on doing such things. My clients require us to geo-replicate their data on 3 different continents. These 3 stores are never more than 1 minute out of sync from the primary store.
just like this program has spellcheck...
Not nearly the same thing. Which program has spell check?
And the sea will grant each man new hope . . .
-Christopher Columbus
madhatter
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Re: market selloff

Post by madhatter »

Nikoli wrote:
madhatter wrote:
Nikoli wrote: Today's IT system are full redundant in eveyway imaginable. You would be surprised at the amount of money spent on doing such things. My clients require us to geo-replicate their data on 3 different continents. These 3 stores are never more than 1 minute out of sync from the primary store.
just like this program has spellcheck...
Not nearly the same thing. nope, much less complex yet still not without faults... Which program has spell check?
this one underlines every misspelled word when you compose the text...in any case it s/b obvious to anyone that nothing is fail safe...how much you care about that is up to you...absolutely bored with this roundy round conversation...
mach es sehr schnell

'exponential reciprocation'- The practice of always giving back more than you take....
Nikoli
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Posts: 2091
Joined: Apr 17th, '07, 08:49

Re: market selloff

Post by Nikoli »

madhatter wrote:
Nikoli wrote:
madhatter wrote:
Nikoli wrote: Today's IT system are full redundant in eveyway imaginable. You would be surprised at the amount of money spent on doing such things. My clients require us to geo-replicate their data on 3 different continents. These 3 stores are never more than 1 minute out of sync from the primary store.
just like this program has spellcheck...
Not nearly the same thing. nope, much less complex yet still not without faults... Which program has spell check?
this one underlines every misspelled word when you compose the text...in any case it s/b obvious to anyone that nothing is fail safe...how much you care about that is up to you...absolutely bored with this roundy round conversation...
You should understand how things work before making such statements. I don't see underlined red. That is a function of the browser you are using. Get a clue, then comment.
And the sea will grant each man new hope . . .
-Christopher Columbus
madhatter
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Joined: Apr 2nd, '08, 17:26

Re: market selloff

Post by madhatter »

Nikoli wrote:
madhatter wrote:
Nikoli wrote:
madhatter wrote:
Nikoli wrote: Today's IT system are full redundant in eveyway imaginable. You would be surprised at the amount of money spent on doing such things. My clients require us to geo-replicate their data on 3 different continents. These 3 stores are never more than 1 minute out of sync from the primary store.
just like this program has spellcheck...
Not nearly the same thing. nope, much less complex yet still not without faults... Which program has spell check?
this one underlines every misspelled word when you compose the text...in any case it s/b obvious to anyone that nothing is fail safe...how much you care about that is up to you...absolutely bored with this roundy round conversation...
You should understand how things work before making such statements. I don't see underlined red. That is a function of the browser you are using. Get a clue, then comment.
congrats 800 miles outside the topic you were able to point out a technical...you win the internet...
mach es sehr schnell

'exponential reciprocation'- The practice of always giving back more than you take....
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