The Federal Reserve is “Down”. What’s up?
It appears the Fed is "inactive" as all FRB services are currently offline, including ACH Automatic Clearing House) and FedWire (the large unit fund transfer system), but the check clearing house is also unreachable …
Translation: The official establishment approved method of transferring money to America is currently offline!
The Fed issued a brief statement on:
Update (1400ET): The Fed released a brief statement:
“Federal Reserve Bank staff are currently investigating a disruption to multiple services. We will continue to provide updates as they become available. "
A very significant non-answer. They have no idea what happened.
Of course, if there was a safe, fast, internet-based system for transferring funds that doesn't depend on any single server …
A SECOND, BUT IT EXISTS, IS THE BLOCKCHAIN IN GENERAL, AND IN THE SPECIFIC BITCOIN!
Too bad that Janet Yellen just stated that Bitcoin is an inefficient system for transferring money, but too bad that the decentralized system based on the Blockchain allows for secure transactions as long as a single server is active, even if all the others go offline.
Janet Yellen: #Bitcoin is inefficient.
Today: Federal Reserves payment system Fedwire goes down, freezing wire transfers between banks. #Bitcoin doesn't go down.
– Bitcoin Archive
(@BTC_Archive) February 24, 2021
Who attacked the Fed's servers?
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The article The Federal Reserve is “Down”. What's up? comes from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/la-federal-reserve-e-down-cosa-succede/ on Wed, 24 Feb 2021 20:23:52 +0000.