Brilliant article on the OPTUS failure in Australia... and the doomed dollar -- I did not really know how badly fiats have fared

[Unca Walt]

"Today’s world is awash with electronic money. But last week, much of Australia’s electronic money disappeared for up to 14 hours with the crash of the Optus electronic network. The disruption to business and the community was “immediate and profound” with rail networks, hospital services, retailers, and banking establishments affected. Naturally this was not helped by babbling politicians waving big sticks.

"Shoppers rushed ATMs to get cash for a cup of coffee. Some were unable to pay for meals they had already consumed. Here is a comment on the day:

"Going along with the abolition of cash means a future like this: “Sorry you have had your sausage for November; would you like a green smoothie with crickets and soy instead?”

Cash Beats Electronic Money, but Real Money Beats Cash

Today’s world is awash with electronic money. But last week, much of Australia’s electronic money disappeared for up to 14 hours with the crash of the Optus electronic network. The disruption to business and the community was “immed...

www.americanthinker.com

 

[pmbug]

The effects of the OPTUS outage in Australia is similar, though on a larger scale, to what happened recently here in the USA with the ACH system outage.

https://www.pmbug.com/threads/no-banks-are-safe.2237/post-83814

 

[Voodoo]

It's almost like someone is trying to show us how crap tastic electronic only money could be.

 

[Casey Jones]

It's almost like someone is trying to show us how crap tastic electronic only money could be.

Fate.

How often this manifests. Try something really new and gee-whiz...and a circumstance emerges where it doesn't work, something that pushers and designers hadn't thought of.

In this case it was/is ENTIRELY predictable. The network, the grid, is fragile. How MANY times have we seen it, even before "carbon" became fetishized by the WEF acolytes, to push their agenda?

Remember the two major blackouts in the Northeast in the '00s? I sure do. I was right down the road from the source of one, in suburban Cleveland, where an overheating line sagged, touched a sugar-maple tree branch, shorted out (that wood is MOIST) and because of incompetence and inattention in power-distribution boards, set off a cascade of tripped breakers and software failures. Power was out three days, IIRC.

It sure made railroading fun, lemme tell ya.

But this was even before we'd tried to close all the coal and oil and nat-gas plants. The grid was complex, and thus inherently unstable, even then. Cash...hey, guess what. Even when central-banks are printing like crazy, cash you put in your wallet today, will work on Friday. Guaranteed.