Mon Jan 10, 2022 – 2:08 pm EST
(Children’s Health Defense) — High-level international banking officials and organizations last month gathered in Israel for a global “war game” exercise simulating the collapse of the global financial system.
The tabletop exercise was reminiscent of “Event 201” — the pandemic simulation exercise that took place in October 2019, shortly before COVID-19 entered the global scene.
The “Collective Strength” initiative was held for 10 days, beginning Dec. 9, 2021, at the Israeli Finance Ministry in Jerusalem. It was relocated to Jerusalem from the Dubai World Expo over concerns about the Omicron variant.
Israel led a 10-country contingent that also included treasury officials from the U.S., Austria, Germany, Italy, the Netherlands, Switzerland, Thailand, and the United Arab Emirates.
Representatives from supranational organizations, such as the International Monetary Fund (IMF), World Bank, and Bank of International Settlements (BIS) also participated.
Described as a simulated “war game,” the exercise sought to model the response to various hypothetical large-scale cyberattacks on the global financial system, including the leaking of sensitive financial data on the “Dark Web,” hacks targeting the global foreign exchange system, and subsequent bank runs and market chaos fueled by “fake news.”
However, the main theme of
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