Skip to comments.Snowden scandal to cost US cloud companies billions
Posted on 01/20/2014 11:22:54 PM PST by Olog-hai
The US cloud industry faces up to 25.8 billion in lost revenues following revelations about US-led snooping on EU citizens.
The surveillance revelations will cost the US cloud computing industry USD 22 to 35 billion in lost revenues over the next three year, said EU justice commissioner Viviane Reding on Sunday (19 January) at the Digital Life Design Conference in Munich.
(Excerpt) Read more at euobserver.com ...
Snowden will cost US cloud companies or the NSA and their incompetence will cost US cloud companies?
Wonder why they named the scandal after the whistleblower here rather than the troublemaker.
Shouldn’t the blame be on the NSA for compromising the security? I guess they really do kill the messenger.
We had the best minds and experience in the world. Snowden should not have been put in the position to do this kind of damage. Our government has devolved so far?
Me too. I am not certain what I think of Snowden but I am most certain what I think of the NSA.
good ! these companies and all their ultra high living people have and control way too much money already .
I love Snowden , he kicked Obama right in the ass .
The mouse that roared
Given how much more of the U.S. Treasury will be emptied as a result of Snowden’s actions, one begins to entertain the notion that the Snowden actions might have been an elaborate set up to separate him by appearances from Obama and his gang, while actually helping Obama in a big way bankrupt America and weaken her intelligence defenses, all at the same time and being perceived in Leftist circles especially as a “hero.”
Whose agenda is advanced most by Snowden? A politically correct answer is the American people’s privacy. Another equally, if not more correct answer is: Those that want to destroy America and her allies from within and trust of America from without.
They are stuck in permanent childhood blaming the sibling that let the parent know they were lethally negligent in caring for tge younger siblings
I cannot tolerate anyone who says this program is good. How can anyone trust anything connected to the executive branch?
Good news! That’s only about $35 billion dollars ... oh, wait ...
Not sure how to feel about Snowden?
He blew the lid off the vat of Orwellian slime that is known as our federal government.
He further exposed the notorious scandals that the DOJ was spying on honest American journalists, the IRS was weaponized to monitor and attack honest Americans, etc...
He made it clear that if you value and love the US Constitution, YOU are the Enemy of these people.
The NSA, FBI and various other fed organizations are what George Orwell wrote about, and Snowden has simply exposed them as such.
In essence, China has been slowly buying up the Federal Reserve for some time now. If you can call it a purchase. Its more of a negotiation over assuming the liabilities of both the Federal Reserve and the U.S. Treasury.
The Federal Reserve is the largest holder of U.S. debt at $2.1 trillion. China is second at $1.3 trillion. Think of it as the United States government doing a debt consolidation of all its treasury bonds because it can no longer pay or service the debt.
China, or the BRICS countries, and/or a consortium of international interests, most likely organized through the I.M.F., will manage the U.S. debt through exchange rate increases and trade tariffs.
The reality for Americans for the next decade or more will be price increases/inflation of 30% to 50%, segmented by industry and region, until such a time that its debt, or a negotiated margin of their debt, is cleared from the books.
The post WW2 boom in the United States was funded by the exportation of the dollars inflation to what is now the emerging markets. Americans lived on the backs of other countries. Now the tables have turned. Or have been turning for many years already. This would explain outsourcing, trade agreements, immigration, favorite nation status, etc..
Why would China and other countries take on the risk of this debt? Simple, its economic reset or economic collapse. Its in the worlds interest to re-structure the U.S. debt to save the whole whale from beaching itself.
Rumors are circulating that the U.S. dollar will have a rate for in country use, and a separate international rate. That is because the U.S. treasury and the Federal Reserve are about to be severed from each other. The Treasury will control the in country dollar, and the international reserve dollar will be controlled by China and or the I.M.F. consortium of debt holders.
The U.S. in fact defaulted back in October of 2013. This has not been told to the public at large. Why would the congress insinuate that the debt ceiling is now irrelevant? The only way the debt ceiling, or debt limit,(eg. the amount the government can borrow) can become irrelevant is if the U.S. has in fact defaulted and the process of default negotiations are taking place. Think of it as the rest of the world cutting up the credit cards belonging to the United States government.
China has recently purchased the JP Morgan building in Manhattan for $750 billion. One could reason that they have in fact purchased all of JP Morgan. And Im sure it will soon be announced that China has or is in the process of purchasing other Western banks and physical assets. These banks make up the majority owners of the Federal Reserve.
The gold reserves of the west have been depleted by China. Some say there is no gold left. This is more physical assets gone from the legers of the Western banks. The system of debt based money creation of the Western world is dead. Its over. The shift East is in the final stages of completion.
Obamas so called Pivot East is less about positioning assets to counter the stirring of the eastern dragon,and more to do with making those military assets easy to confiscate when the terminal day arrives.
It will happen over a weekend, as many have already predicted. The televisions will announce the largest deal in financial history between the Federal Reserve and China. They will discuss how all the worlds currencies have been revalued to reflect true production ratios and physical assets. Accounts will be balanced. War criminals will be prosecuted.
“weaken her intelligence defenses”
Yeah but are they really that strong to begin with?
Fort Hood Shooting Report: Warning Signs Were ‘Missed’ and ‘Ignored’
Detroit Bomber Failure: His Dad Tried to Warn U.S. Authorities
FBI was warned 2 years ago of alleged bombers radical shift
U.S. government knew about al-Qaeda ‘pep rally for jihad’ in Benghazi that included calls for the murder of American diplomats - just months before terror attack
Police warned Navy about gunman’s mental instability 6 weeks ago, report says
FBI officers went to Sandy Hook shooter Adam Lanza’s home in 2004
I think Snowden confirmed what most all of us have suspected. I don’t think the whole Snowden saga has played out yet— I am reserving judgement until more is revealed.
NO, Snowden didn’t cost any companies or the Government anything. Their own treachery did though.
IMO, anyone crazy enough to put their files in the cloud is just asking for them to be looked at. The govt was really slick - got us all hooked on smart phones and storing your files in the cloud, then uses it against us. Technically we are the stupid ones. What did you expect to govt to do when they saw all those files sitting out there. Remember, Al Gore invented the internet, so the RATS only were taking what was on their property. If you want to store your files get a portable drive - I got a 3 TB one for 180 at Costco and I don’t ever think I will fill it up AND I don’t worry about getting my stuff hacked.
That’s what struck me too. Of course, listening to Democrat puketards attack Snowden simply because he makes Obama look bad is the galling part for me. If he had blown the whistle during the Bush Administration they’d be applauding his “heroism”.
Who do they work for? Who authorized their treason? That is who is responsible... and we all know who he is.
Cue the late Carl Sagan!
“I cannot tolerate anyone who says this program is good. How can anyone trust anything connected to the executive branch?”
Well, isn’t the real issue here trust? If we were at war - and, in fact, we are, declared or not - years ago, no one would have worried about this. But recently, the government has demonstrated time and again that it can’t be trusted.
If this technology has been available in World War II, would anyone have given it a second thought?
You live in a world where a week after the IRS was absolved, without trial, for persecuting over two hundred conservative groups vs eight liberal groups, and the pundits say it was equal, and the New York governor says conservatives have no place in New York
If anyone from our govt was spying on individuals with no cause back in the forties, ok but it was a different culture, and they would not be let off the hook
Indeed. To see a good example of what is going on, our government has really, and I mean really, been dropping it’s standards for who should serve. In the case of Bradley Manning, the man would not have qualified by the standards of the military physically and mentally to serve, they let him go because they needed more boots in the military without trying to authorize the draft.
In the case of Snowden, well, I can’t see why he couldn’t be somewhat restricted in where he did his work, or why he didn’t have to check out with security. Or perhaps there doesn’t exist a security standard for making sure a person isn’t bringing a disc out of the workplace. What’s interesting about him though, is that it shows that Homeland Security and the POTUS aren’t as solid in considering so-called right-wingers and libertarians as security threats as they would claim to be.
What’s more is that your fellow nongovernmental Americans are just as dangerous at hacking into your stuff, if not more so than the government. Guess how people target internet ads to your pc? Yup, the companies actually monitor if you visit their site. Guess who can hack into your web cam on your laptop or the cam on your smart phone, your nongovernmental neighbor can do it with enough computer skill. Much of the modern world is a house of cards at this point, especially when one considers the idea of running up debt under the economic ideology of Keynes.
Dude, the Leftists were just acting like they cared, and another word for an actor is a hypocrite. What’s even more to the word is that an actor in a Greco-Roman play would regularly be several characters in the play.