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Author Topic: Entire Federal Reserve payment system CRASHES with banks unable to send or receive wires  (Read 466 times)

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Offline txradioguy

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Entire Federal Reserve payment system CRASHES with banks unable to send or receive wires
« on: February 24, 2021, 07:24:31 pm »
The Federal Reserve payment systems used to settle transactions between U.S. financial institutions have suffered an unexplained disruption.

The system used by U.S. banks to execute some $3 trillion in transactions per day was down as of 1pm ET on Wednesday, and the Fed still reported widespread disruptions nearly an hour later.

The reason for the outage and the potential impacts on consumer banking services were not immediately clear. A spokesperson for the Federal Reserve did not immediately respond to an inquiry from DailyMail.com.

<snip>

An update at 1.18pm confirmed the disruption and added 'We will continue to provide updates as soon as they are available.'

Among the affected services were Fedwire, which last year handled 184 million transactions totaling more than $840 trillion.

Every day, transactions over Fedwire total more than $3.3 trillion, according to Fed data.









https://www.dailymail.co.uk/news/article-9296385/Entire-Federal-Reserve-payment-CRASHES.html?ito=push-notification&ci=82503&si=8768747


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Offline jafo2010

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Re: Entire Federal Reserve payment system CRASHES with banks unable to send or receive wires
« Reply #1 on: February 24, 2021, 07:50:35 pm »
OT-OH!
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Offline Smokin Joe

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Re: Entire Federal Reserve payment system CRASHES with banks unable to send or receive wires
« Reply #2 on: February 24, 2021, 08:42:28 pm »
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Online Right_in_Virginia

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Re: Entire Federal Reserve payment system CRASHES with banks unable to send or receive wires
« Reply #3 on: February 24, 2021, 08:55:59 pm »
How the hell can this happen?  Cyber attack??
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Online libertybele

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Re: Entire Federal Reserve payment system CRASHES with banks unable to send or receive wires
« Reply #4 on: February 24, 2021, 10:10:50 pm »
Quote from: Right_in_Virginia on February 24, 2021, 08:55:59 pm
How the hell can this happen?  Cyber attack??

Well, two things; one this happened under the Biden administration. Can't say that I'm surprised. They've built the wall around the WH and are keeping armed guards around it for a reason.

I heard two days ago that not only do banks not have to have money on hand to cover their deposits, but the banks are also allowed to write you an IOU if you go to the  bank to withdraw funds and they don't have the funds. It is my understanding that credit unions do not have that rule (yet).

The alarm went off for me during COVID when I went to the bank and we could only make a one time daily transaction of no more than $1,500.  We withdrew all our money out except enough to pay bills.

Also -- banks can discern who they want to do business with; they can close out your account for any reason and they can shut down credit cards.

I think the collapse of the dollar may be near. We will become a cashless society (which personally we're screwed) or cryptocurrency which can be manipulated -- poof your money can be gone in a flash.                                                       
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Offline Polly Ticks

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Re: Entire Federal Reserve payment system CRASHES with banks unable to send or receive wires
« Reply #5 on: February 24, 2021, 10:11:27 pm »
Quote from: Right_in_Virginia on February 24, 2021, 08:55:59 pm
How the hell can this happen?  Cyber attack??

It has to be shenanigans somewhere, I would think.
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Online libertybele

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Re: Entire Federal Reserve payment system CRASHES with banks unable to send or receive wires
« Reply #6 on: February 24, 2021, 10:29:22 pm »
It supposedly was due to "A Federal Reserve operational error"   ...

https://www.foxbusiness.com/markets/federal-reserve-payment-system-crashes
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Offline jafo2010

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Re: Entire Federal Reserve payment system CRASHES with banks unable to send or receive wires
« Reply #7 on: February 24, 2021, 10:32:41 pm »
And the news media is more quiet than a church mouse.

the sh*t just might be hitting the fan!  Confidence in the USA has to be near zero.

Congress squanders time impeaching a POTUS that has left office while our economy is in the swirl.  And when they spend a brief moment to discuss doing anything for Americans, it is about a one time payment of $1,400 - 2,000, like that will make any difference for people?  These people in Congress all need to be replaced.  ALL!!!
 22222frying pan

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Offline Victoria33

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Re: Entire Federal Reserve payment system CRASHES with banks unable to send or receive wires
« Reply #8 on: February 24, 2021, 10:37:35 pm »
@txradioguy

I am on the website of the Federal Reserve and there is nothing about any type of problem.  This would be a very, very, serious problem and I see nothing there.

@libertybele, thanks for posting that from Fox News saying it is "fixed".
« Last Edit: February 24, 2021, 10:40:37 pm by Victoria33 »
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Online libertybele

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Re: Entire Federal Reserve payment system CRASHES with banks unable to send or receive wires
« Reply #9 on: February 24, 2021, 10:39:43 pm »
Quote from: Victoria33 on February 24, 2021, 10:37:35 pm
@txradioguy

I am on the website of the Federal Reserve and there is nothing about any type of problem.  This would be a very, very, serious problem and I see nothing there.

The issue has been resolved -- FOX, CNN, and CNBC have all reported that it was down for a couple of hours.

Still -- this should sound off a few alarms for everyone!
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I Believe in the United States of America as a Government of the people, by the people, for the people; whose just powers are derived from the consent of the governed; a democracy in a republic; a sovereign nation of many sovereign states; a perfect union one and inseparable; established upon those principles of freedom, equality, justice and humanity for which American patriots sacrificed their lives and fortunes.  I therefore believe it is my duty to my country to love it; to support its Constitution; to obey its laws to respect its flag; and to defend it against all enemies.

Online libertybele

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Re: Entire Federal Reserve payment system CRASHES with banks unable to send or receive wires
« Reply #10 on: February 24, 2021, 10:42:42 pm »
Quote from: jafo2010 on February 24, 2021, 10:32:41 pm
And the news media is more quiet than a church mouse.

the sh*t just might be hitting the fan!  Confidence in the USA has to be near zero.

Congress squanders time impeaching a POTUS that has left office while our economy is in the swirl.  And when they spend a brief moment to discuss doing anything for Americans, it is about a one time payment of $1,400 - 2,000, like that will make any difference for people?  These people in Congress all need to be replaced.  ALL!!!
 22222frying pan

Beck reported  about a year and a half ago that other countries were refusing to buy our treasuries.       

With Sloe Joe at the helm and not even able to finish a complete sentence, why would anyone have confidence in the U.S. right now?

They witnessed a stolen election and the insertion of meathead in charge.

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I Believe in the United States of America as a Government of the people, by the people, for the people; whose just powers are derived from the consent of the governed; a democracy in a republic; a sovereign nation of many sovereign states; a perfect union one and inseparable; established upon those principles of freedom, equality, justice and humanity for which American patriots sacrificed their lives and fortunes.  I therefore believe it is my duty to my country to love it; to support its Constitution; to obey its laws to respect its flag; and to defend it against all enemies.

Offline txradioguy

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Re: Entire Federal Reserve payment system CRASHES with banks unable to send or receive wires
« Reply #11 on: February 25, 2021, 12:55:44 am »
Quote from: Victoria33 on February 24, 2021, 10:37:35 pm
@txradioguy

I am on the website of the Federal Reserve and there is nothing about any type of problem.  This would be a very, very, serious problem and I see nothing there.

@libertybele, thanks for posting that from Fox News saying it is "fixed".

It was down for roughly three hours.  It's back up now.
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The libs/dems of today are the Quislings of former years. The cowards who would vote a fraud into office in exchange for handouts from the devil.

Here lies in honored glory an American soldier, known but to God

THE ESTABLISHMENT IS THE PROBLEM...NOT THE SOLUTION

Republicans Don't Need A Back Bench...They Need a BACKBONE!
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