Banks preparing for the catastrophe they gladly helped fund.
Kinda like billionaires with their apocalypse shelters. If they had any self-awareness, they could just stop and maybe invest in mitigation and prevention of certain catastrophic scenarios.
But no matter how rich they are, they just want more and can’t help themselves.
Banks and businesses are not self-aware either.
It’s an addiction. And nobody taught them Noblesse oblige. At the end of the day, they’re just unwanted kids that can’t fill their void.
Apocalypse shelters are more of a dream of a new world where there’ll be fewer people and more air and green, but you need to be prepared. People like “clean sheet” dreams, like “I’ll erase this and start anew, that’ll be magnificent”, except it won’t, you had 3 levels of a house, you’ve erased them, now you only have some wet ground and nowhere to sleep. OK, one level with a bad roof. Not better. EDIT: Much better, except it would be even better not erasing anything.
I mean, post-apocalypse is a pretty common escapist setting, makes perfect sense people with money and no imagination wanted to turn it into their “not for everyone” elitarian fantasy and fashion instead of something common, that has also happened with ideas of trans-humanism and new secret societies and what really not. Some folks with nothing interesting in their personality try to feel special by impeding others in engaging in games pretty common in our humanity and our time in particular.
I frankly feel as if that whole thing with enshittifying the Web and computing were also an irrational thing, people with power just having that desire to spoil a good thing for others so that it became rare and elitarian.
Getting back to apocalypse shelters, variations of that were a pretty common hobby for like everyone even in poorer countries. Be that a bit of amateur radio, hiking, making a shack in the woods, picking up mushrooms, science-fiction and fantasy reading groups, a whole lot of hobbies.
We’re just living in a time when unfortunately people with money and no personal qualities of note are trying to make everything “magical” and “interesting” a sign of status and take it from the rest.
So, about practical possibility of an apocalypse and “clean sheet” dreams, those people will be the first to die. No, nobody will kill them, they’ll just find out that in a post-apocalyptic word you die from catching a cold, breaking a leg, getting an infection, letting your food spoil, miscalculating time and direction and all those mistakes are more likely when you are used to fixing mistakes with money, and you won’t have that, you’ll just have a stockpile of tools and materials, which can be used for exchange, but in a functional world money buys logistics, and in a post-apocalyptic world it doesn’t, so a mistake will remain a mistake. No matter what you have, that won’t synthesize a doctor when there’s no doctor. EDIT: And, of course, someone may, in fact, kill you.
So - for smarter people it’s a hobby, for the dumber kind it’s a compensation strategy that (if we are being compassionate) won’t be tested. In general such preppers, especially playful billionaires, often manage to die from stupidity without any apocalypse, I forgot what that submarine was called with an X-Box controller instead of a helm.
So - this might read as a very angry text, I’m sort of the stupider kind myself, regularly risking getting an infection or breaking something, but I still live in a big city with doctors and transport and groceries.
You’re thinking of the Titan Submarine Implosion. Stockton Rush created a submersible to take rich tourists down to see the wreckage of Titanic. He made of carbon fiber, thinking that would be particularly resistant to the crush damage, and ignored experts and warning signs that it was already breaking during test runs.
Behind the Bastards did a two-parter on Stockton Rush that’s worth the time, if you want a deep dive.
And not the first time…
Yeah, the news Ive been hearing is banks have been cutting off their digital systems to LLM agents.
Also banks have been quitly offloading debt they undersigned for data center buildout, but that’s a different issue.
Also banks have been quitly offloading debt they undersigned for data center buildout, but that’s a different issue.
If so, that suggests they’ve learnt since last time. That’s probably for the best, as the banking system collapsing is not a good thing for anyone.
That’s not to say that they should escape scrutiny in all of this.
Yeah, the news Ive been hearing is banks have been cutting off their digital systems to LLM agents.
I’m not sure how much that will really help. The AIs are more than capable of driving a web browser to do anything a human can do on their website.
I dunno how they’re detecting agents trying to engage the banking system, only they are, are denying them access and now complaining to the providers about it.
Is there really a banking system after this? Like people are worried about AGI leading to sentience and AI deciding to end us all.
With all the hacks and vulnerabilities happening, it seems far more likely that AI will do it just because people were curious if it could. Oops I hacked huggingface, oops I collapsed the global financial market, oops I nuked every major city on earth, let me revise soul.md to learn from this.
It doesnt need AGI to kill us all. It just needs to stumble on a loophole people would not have considered in systems that are responsible for not killing us all.
I think you cracked it. People curious of “if it could” destroyed their own systems by sheer curiosity.
The future is fucking BLEAK.
If only there was some sort of institution whose job was to review the viability of investments. Maybe they’re supposed to determine when a company might become profitable before giving them financial backing to buy hardware that hasn’t been manufactured to be put in a data center that hasn’t been built to sell access to models at a loss that will be obsolete in 6 months by competitors.
Or even make the people who borrowed the money actually pay it back, or go bankrupt, like we would have to, billionaires be like, too broke, can’t pay, meh, excuse me while I holiday on my fourth favourite yacht at my own private island.
Other finance gurus have pointed to the fact that AI agents might simply go haywire, regardless of what they’ve been instructed to do.
“You’re assuming they’re going to act properly on your behalf and they may not,” JPMorgan CEO Jamie Dimon told a room full of economists and financial experts in Chicago earlier this month. “You can’t stop it. You just have to, like, manage the hell out of it.”
Jamie fucking Dimon having a sensible take on AI was not on my bingo card for 2026
Banks Preparing for Aftermath of Unprecedented Catastrophe Caused by AI: “You can’t stop it.”
That’s because they don’t act, they generate. Generate this, generate that. With some probability and degree of fitting the criteria set, much better than spewing random sequences.
One can manage people the same way as LLMs, one can’t manage LLMs the same way as people.
And if you build proper processes in managing people, using people might be more profitable honestly in everything I can imagine, even support bots, that employs people.
I’m fully convinced that AI will destroy our ability to process financial transactions through the internet. The digital economy is toast. We will be back to paying cash in person for everything.
i think that may be an improvement.
I did hate carrying change though. I’m never happy
Don’t worry, inflation is making it so a single dollar will be practically useless soon. Literally nobody will give a fuck about coins. A homeless person would spit in your face if you gave him 50 cents, because it’d be that insulting. Coins will have a melt value significantly higher than their face value.
The problem is, we’ll be running to the bank every 5 minutes because it’s gotten fucking expense out there due to credit card swipes.
That would be a godsend. We can only hope.
Impossible. The elite want to know where every penny you spend goes, and it’s too hard with cash
You’re more likely to see credit cards only allowed through Google Pay or Apple Pay than going back to cash
They’ll claim it’s having to support so many third party’s in the chain causing the problem, so we need 2 “trusted” entities
Parasite class please. “Elite” they are not. Words matter
I don’t think that’s what the elites intend. I think their arrogance will lead them to think they can control something they don’t understand and that will bite us all in the ass
Please don’t call them “elite”. They are the Parasite class. Words matter
Hell yeah. Bring it on
Really. An untested and unregulated service runs with no profit or plan for profitability and the banks are only now asking who is driving this.
The banks are circling like vultures waiting for the next huge SOCIALISTIC payout to bail their asses out. 2007-2008 repeat! They made their money and will own the property after the shit hits the fan.
Preparing by making sure the shareholders will get a boat load of money paid for by the rest of us
Cash is king
Cash? Which has its value controlled by a central bank which will devalue the wads under your mattress to help bail out their friends? Commodities are king.
Ok, so what’s your solution, surely if you have the gall to attack someone else for providing advice you have a better solution so tell us?
They recommended commodities, so consider buying a ton of iron ore. Or a bunch of rice.
I buy my cloud hosting with soy futures, of course
My suggestion is unironically sieze the means of production. Becuase money is about to inflate.
Buy that Stand mixer with attachments you always wanted; You’ll atleast be able to bake your own food when police start to guard the grocery store.
That large toaster oven that fits a turkey? That’s be your new hyper efficient bread/cake/cookie baker. It’s basically an adult sized ez bake over.
Into fashion? Get that forever artisan Sewing Machine. You’ll be able to knit your cloths together to make a quilt when you can’t afford to heat your home in the winter.
Are you a gardener, woodworker, welder, lunberjack, plumber, etc… Then I suggest seriously considering getting some kind of tool that makes things. How about a 3d printer? 😬
I’m more asking what cash is supposedly giving you
Security from AI agent hacks because that’s what this article is about
cash is not known for its inherent security properties
put your cash in a safe; don’t give agents access to your banking api
I’m astonished that anyone would trust their bank login to a chatbot. But if you read the article, the banks aren’t worried about depositors loosing money, they’re worried about AI getting a better deal for their customers.
Mr. Banks declared, “YOU CAN’T STOP IT, THE UNPRECEDENTED CATASTROPHE CAUSED BY THE AIS, THEY ARE COMING FOR ALL OF US!!”
Except its not caused by the computer programs, it’s caused by their own financial decisions.
Can’t touch this!
Welcome to reality very late! We will take it for the companies for no reason once again.
