So, they think there’s no point in securing the credential tokens further. Microsoft’s logic in not wanting to fix this vulnerability is that if the attacker already has access to the local machine, the user is already compromised. So, it is up to corporate IT to set up system monitoring rules to watch out for exploits.īasically, if a hacker or #malware has access to your #Mac, #Windows or #Linux computer (NO administrator/root access required), it can independently impersonate you in Teams and perform any actions on behalf you. Microsoft is aware of this issue, but they indicated that it did not meet their bar for immediate servicing. This is a dangerous vulnerability in Microsoft Teams that can bypass all the Multi-Factor Authentication ( #MFA) controls. Slow and steady is their style of doing things.
If the pilot is successful, they will incrementally expand it to the rest of the world.
#Gold pressed latinum to usd trial
My guess is that should China do that, their style may be to introduce a gold-backed e-CNY as a 'pilot' test on a trial basis to gauge global interest. Should it happen, it is going to be very disruptive. But this is a Black Swan that should not be dismissed. I don't know when or whether this is going to happen. If China is to do this, they will do it at a time of their own choosing. Emerging economies like Africa, BRICS may stick to the Chinese gold-backed CBDC. Australia and Western Europe will stick to the USD system. If this left-field event happen, it will split the global financial order into 2 camps. What if someone comes along and proposed an alternative that promises something more stable than the current system? Hey, what about a gold-backed CBDC from China? This offer will be very compelling for the emerging economies because they are worried, sick and tired of the currency instability caused by the current USD system. using Special Drawing Rights ( #SDR) from the International Monetary Fund as suggested by Jim Rickards. BTW, countries like Australia are also affected and the only way is to counter that is to raise domestic interest rates.Īll these can happen because the global financial order is based on a USD system.
In other words, the USD system is exporting #inflation and capital instability to the rest of the world. A surging USD is a symptom of capital outflow from their economies, which risks putting their currencies in a crisis. A strong surging USD exacerbates inflation on their economies.
BRICS, Africa, Central Asia, Latin America) don't like this at all. Now, we have both.Įmerging economies (e.g. At least during the GFC (a deflationary event), we don't have an inflation problem. The Federal Reserve is raising rates, which in conjunction with coming fiscal spending of the Biden administration, will lead to a surge in the USD, which is accompanied by #deflation in asset prices. We have global price inflation problem, which induces #centralbanks to raise #interestrates. The world is now besieged with BOTH deflationary AND inflationary forces. But this financial order is under severe test right now. Under the current financial order, the US dollar is the world reserve currency. Should this left-field Black Swan event happens, imagine the disruption it will make to the global financial order! I wouldn't be surprised if this Black Swan event happens soon: China announces a gold-backed Central Bank Digital Currency ( #CBDC). Do you know that #China is the world's largest producer of #gold? Curiously, none of that gold ever leaves China.
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