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The outage of the National Settlement Service and the Fedwire Securities Service, which provides issuance, settlement, and transfer services for Treasuries and other government securities, was down and this has caused some concern and then conspiracy theories mixed in. The Fed made progress reversing the shutdown within a couple of hours, however, this has illustrated that a long-term outage of the Fed’s online services could cause intense chaos across the world financial system, preventing banks and businesses from finalizing transactions and impeding basic banking functions.
The Federal Reserve said an outage of its key financial services on Wednesday was caused by a maintenance mistake and it is taking steps to prevent a recurrence. The official statement read:
The outage of the National Settlement Service and the Fedwire Securities Service, which provides issuance, settlement, and transfer services for Treasuries and other government securities, was down and this has caused some concern and then conspiracy theories mixed in. The Fed made progress reversing the shutdown within a couple of hours, however, this has illustrated that a long-term outage of the Fed’s online services could cause intense chaos across the world financial system, preventing banks and businesses from finalizing transactions and impeding basic banking functions.
The Federal Reserve said an outage of its key financial services on Wednesday was caused by a maintenance mistake and it is taking steps to prevent a recurrence. The official statement read:
Uttarakhand glacier outburst: All you need to know about current status of rescue operations - A glacier burst resulted in massive flooding of the Alaknanda and Dhauliganga rivers on February 7.
Origin
Beginning in December 2020, conspiracytheoristspublishedTikTokvideos that warned the Microsoft search engine, Bing.com, had confirmed an upcoming and successful Chinese invasion of the United States. In the videos, TikTok users directed viewers to visit Bing.com to type in “China invade USA” (without quotes). The videos showed a snippet result on the right-hand side called “Invasion of the U.S. Mainland,” apparently scheduled for 2020-2025 with a “Red Chinese victory.”
It’s true that entering the text “China invade USA” (without quotes) on Bing.com will bring up the result seen in the image above.
However, the snippet on the right titled “Invasion of the U.S. Mainland” was not a confirmation or prediction of war by Bing.com, nor was it a news story. The embedded content was nothing more than a search engine results preview of fiction writing from the Future section of the website Fandom.com.