Some of Australia’s biggest superfunds have been targeted in a coordinated cyber attack with some members losing hundreds of thousands of dollars in savings putting retirements at risk. | *Subscribe and 🔔: http://9Soci.al/KM6e50GjSK9*

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39 COMMENTS

  1. China has more agricultural/industrial/commercial robots than the rest of the world combined, 10 times the US does. It's leading in many other critical technologies too. The only real things the US has left is advanced chip design (not even manufacturing without Taiwan) and some of the pharmaceuticals. It’s not even leading in the research and application of nuclear technology (not quantity but quality) and genetic engineering on many degrees compared to China. In non-critical areas China is also at the forefront, highways, bridges, tunnels, car making, ship building, the construction and manufacturing of many other types of projects. While California may be still struggling in their high speed rail to be hopefully completed sooner than later anyway, China's two-thirds of the world's bullet trains most operating at 250~380km/h (155~236 mph) are the safest in the world and almost never late since more than a decade ago. Just an example, a very QUICK AND SIMPLE EXAMPLE

  2. The Chinese have the most modern space station out of the two space stations.
    The Chinese Beidou (MEO & GEO satellites) is much more advanced, resilient to disruptions and better than the American GPS (MEO satellites – the ones we use every day) in almost every way.
    The Chinese Mars missions are set to return Mars samples to Earth in just a few years, potentially beating the American Mars missions on this by years.
    Just an example, a very QUICK AND SIMPLE EXAMPLE

  3. As to energy bills,
    China is leading in the research and application of…
    Coal-derived chemicals technology,
    Smart grid technology,
    Green hydrogen technology,
    Wind technology,
    Hydropower technology,
    Ultra-high voltage power transmission technology and has the largest network of UHV lines,
    Nuclear technology,
    Directed energy technology,
    Ocean drilling technology,
    Solar technology,
    Ultra capacitor technology and
    Advanced energy storage technology.
    There are many others, but 12 is a good number.
    Just an example, a very QUICK AND SIMPLE EXAMPLE

  4. China leads in standard ceiling height.
    China leads in standard lane widths (slightly above the US and Australia, and far exceeding many European countries except Germany and Sweden).
    China leads in longer wheelbase car sales.
    China leads in high-power vehicles (especially EVs) technology.
    Just an example, a very QUICK AND SIMPLE EXAMPLE

  5. There are so many indicators that suggest at what pace economic activity has continued to expand and block traders tend to know them better. For total size, Bureau of Economic Analysis uses the expenditure approach to calculate GDP, which tends to result in a larger figure than that from what National Bureau of Statistics of China uses the production approach. In terms of the more scientific PPP understanding of the real sizes, the US has the second largest economy in the world, around 75~80% the size of China's economy. If they both use the same method, it's hard to say which country's GDP is larger, but the PPP figures would likely be around 1 : 2 if not even worse. Just an example, a very QUICK AND SIMPLE EXAMPLE

  6. Does anyone remember when the treasurer announced they where going to be using the superfunds as investments in renewable energy? Since thats looking like it might not happen, they are gunna just steal it 😂

  7. I don't understand how Super funds can be stolen when you have to fill out forms with Superannuation Companies to access your personal super funds. Something isn't adding up. And you get taxed 22% for accessing your Super.

  8. Our super is also invested globally, it was never just ours. So after 3 days of markets crashing, several funds are hacked at the same time, not coincidence. Preparation for losses, when they take what they need, they'll blame hackers.

  9. The Ballad of Elbo’s Folly

    (The Tyrant’s First Defeat)

    He thought the land would kneel in dread,

    But deserts fought him mile by mile.

    The snakes, the crocs, the spiders red,

    All rose in fierce Australian guile.

    His tanks sank deep in boggy sand,

    His planes were lost in cyclones wild.

    The land itself defied his hand,

    And mocked him like a scornful child.

    "Curse this sunburnt, wretched place!"

    He screamed into the burning sky.

    Yet still the rebels gave no grace,

    And vowed to see the tyrant die.

  10. Cyber security in the private sector here is laughable, ASIO and the ACSC have some insanely intelligent people working for them and if it was up to them the private sector would be held to a MUCH, MUCH higher standard of security. This is another Optus repeat, we need GENUINE measures implemented by Cyber Security experts vetted by and selected by these agencies in charge of security here in Australia. If they can access these accounts, they can access any.

  11. It is very interesting how the cyber attack has happened right at the time of deep dive on the share markets. Is that a very strange coincident? What is a chance? Now, even if any money was stolen, (let’s face it 0.5milion is noting for that big Superfund) we have burning question to answer: How do we know that Australian Superfund is not going to cut any it’s loses, legitimate or not so much, and spread them proportionally over all super accounts? Who would be able or willing to notice it, prove it or disapprove it? By the way- it can take the ATO up to 14 days to either accept or deny your online application (or 28 days for paper applications). It can take further time for your fund to process the application after it is approved by the ATO (according to The Financial Rights Legal Centre).

  12. Just follow the money to the new massive immigration over the last few years! The bank accounts they have are been created as if they are retired full citizens at high life income!!!
    Exactly what Biden did in America, it’s the same playbook, same shadow government..,!

  13. Every company with private data should be getting cyber insurance and thus having to implement the strong cyber security recommendations of cyber experts like fried protection and multi factor authentication. These Board directors and CEOs are sleeping on the job not protecting the funds.

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