UK Bank Emergency!😨AI Attack Fears, NO ONE SAFE?

0:00 All right, everyone, today is gonna be a big one because we are talking about AI agents running rogue and it really calls the question, is anyone safe?

0:08 Well, today we're gonna break it down for you.

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0:56 I want to start with this video clip that we did.

0:59 We just released this video yesterday, but we actually recorded a few days before.

1:03 Watch this.

1:04 Do you foresee a major AI hack on a major bank in the U.S.

1:10 Before the end of this year? I don't know the timing, but it's going to happen.

1:16 This is the concern I have, and I think a lot of experts out there have kind of voiced this, is that the banking systems are not ready for this.

1:24 No, I think you're right.

1:26 I don't know the timing of it, I will admit.

1:27 I actually don't think that's not a quantum threat.

1:29 That's just a generic social engineering threat, the AI threat.

1:34 I think about that a lot.

1:35 And of course, now we're seeing it happen in real time. And you've got it right here at Morgan Stanley, Bank of America, JP Morgan, Wells Fargo, all detected unauthorized agents accessing customer accounts. and using and acting without user instruction. So this gets pretty significant because when you look at that and then this right here, where hackers now are reportedly using Claude and Grokbot and other models out there to go out and create a vector attack against 400-plus financial targets, and they're doing it with very little human input.

2:10 So this continues to concern me that the banking industry is not ready for what is coming at them. And it's accelerating literally by the day.

2:20 That's the advancement we're seeing.

2:22 As you guys know, we test a lot of these AI models here in understanding what their capabilities are. And I am surprised every week in the capacity of what it can do. This is only going to get worse unless the banks are starting to really move quickly. The UK government is now urging its citizens to stockpile food and water. And this is because of the cyber attack, which are essentially AI-oriented for the most part. And you look at that kind of issue, and then this right here happening, you've got Brent Crude now skyrocketing again. This is a seven-month high, holding at 117 right now a barrel.

3:01 If this thing hits 120, we are going to see significant fuel costs hitting not only Europe, but what's going to happen here in the United States. This starts to worry me quite a bit because at the same time of these kinds of interventions of what we're seeing with both AI integrations and moving into the banking industry, where else could we see that starting to attack? Could we see grid attacks? Could we see other infrastructure attack? That's the concern I have right now. Here is the UK issuing the security notice.

3:32 Take a look.

3:34 The main message for now is to think about what you'd need to survive for three days in a crisis. All the information is on this updated website that asks, are you emergency ready? It includes having enough supplies of water, of food, of medicine. While the focus of the advice is on more familiar disasters such as severe weather or cyber attacks, ministers have been warning about the possibility of war.

4:03 But we'll also need to take the country a step further and ask them, are they prepared for increasingly sophisticated cyber attacks on our businesses? Are they prepared for the eventuality that there may be disruption to essential supply chains caused by hostile state actors or terrorists? How would we cope if the payment systems at the local supermarket went down?

4:30 Those are the sorts of everyday challenges and threats that we could well face.

4:37 So you can see things are getting a little bit heated here. And one of the things that I'm concerned with is who's held liable? You know, when you have something like a circumvention that happens within a banking system, especially here in the United States, could you hold the banks liable?

4:55 Well, here's someone talking about it.

4:57 Now, wait a minute. We've got these agents allegedly getting inside anybody's bank account. Is this happening?

5:04 Well, let me tell you that the banks have been all over this for months now.

5:08 Every one of our viewers wants to know, if some guy gets inside my bank account and takes money, how do I get my money back, and what are you doing about it? Well, you've told us what you're doing about it, but I'd like to know, how do I get my money back?

5:19 Well, again, banks are very focused on their defending the frontier. Banks are some of the most fortified parts of our system.

5:28 You, your office, I believe, you're accusing some of the largest banks in the country of debanking customers because of their political views. What are you going to do with them? Take them for money or what?

5:40 So what we're going to do is we're very focused on working with the CFPB and other law enforcement agencies to hold banks to account that engage in these activities.

5:47 You're on the show today to reassure us all. That's what you're doing.

5:53 Yeah, he's not reassuring me. And I think this is the whole point is that we are seeing, and it's something we've been watching for quite some time. I think the tech advanced, you know, people that are watching this show, you guys probably realize what's going on much more so than I think.

6:07 A lot of people out there, and that is preparation. So the issue is real. It is starting to hit, and I think it's only going to accelerate going forward.

6:16 In fact, you've got OpenAI's autonomous AI systems now trying to lock out the very employees who are monitoring these actions, and the company, of course, doesn't know why. So this is not a good look, guys, for not only AI, but just for the tech industry in general, for us to see these kinds of The real question is, is what will happen as this goes forward?

6:41 Does the Trump administration take action or not?

6:44 Speaking of the Trump administration, well, this happened, and that is the Dutch government now has hacked into Jared Kushner's phone and monitored him as he accessed a Dubai-based bank account. Listen, if the elites are not safe, no one is safe in this particular situation.

7:03 It is brewing and getting real.

7:06 Other things you've got going on right now that people are concerned around Bitcoin and the possibility of a post-quantum issue around Bitcoin. And you have Chamath even coming in and saying, not that I'm in agreement with him very often, but I think he's saying that eventually this gets hacked and.

7:22 It goes to zero. He's talking about Bitcoin, guys. That's what he's talking about.

7:26 Even David Sachs, presumably still bullish considering his former role as US crypto czar and AI. And he also still concerned around what the future of Bitcoin is based on what we're seeing in terms of advancement. I will say this, that when you listen to some of these kinds of tech entrepreneurs and billionaires, they understand what's under the hood.

7:49 They probably are seeing more advancement than the average person and probably even more so than most deep dive researchers.

7:56 So Pay attention out there, guys.

7:59 It's very possible we may get some indicators coming in from these kind of people that a lot of people have not been watching. All right, so let me kind of connect this because you have AI hacks happening here on the banking system, could leap into the grid system, power systems, all sorts of things. And you've got this right here where the U.S. is releasing 400,000 barrels of emergency drugs. oil from its strategic petroleum reserve. That's a big deal going forward. And the real question here now is how does the market recover from this or does it?

8:31 Here's a clip.

8:33 But crude oil comes down and it feels like the tech names and the market's reacting more even to oil right now than to yields.

8:40 Of course.

8:41 Yeah.

8:41 Well, look, there's one thing investors and markets hate, and that's uncertainty. And the Iran war has been a ton of uncertainty. It really hasn't dissipated. It comes in waves and it comes and goes. It So I think the minute there's an indication that there's a sustainable drop in oil prices coming, you're going to see the S & P 500 push to 8,500 plus. Really? Pretty quick.

9:01 So you're talking like a bam, it's like a snap.

9:03 I think it'll be a very quick, aggressive rally, especially as investors realize earnings growth is explosive right now. There's a big discount price into this market right now.

9:13 What do you buy there? Do you buy across the board?

9:15 I think don't reinvent the wheel. I think big tech. I think the Mag 7. I think the top 15 stocks, S & P 500 will be the best performers when you look six to 12 months out. I don't think it's the market you need to reinvent the wheel in right now.

9:28 All right, a couple of things there. You could look at Wall Street analysts. Many times you guys have probably said, hey, half the time these guys are wrong, of course. The real question here is how does this get addressed if we do get a continuation of the wars? And that's talking about everything from what's happening in Russia and Ukraine, as well as what's going on within the Hormuz Strait and what's happening with Iran. All of this could cool down come post midterms. That's one option. The other issue is, is that this rotation may never really happen coming off the AI trade. If in fact an AI trade rotation does occur, we may see it go elsewhere or go to the sidelines. We just don't know. That's the concern

10:10 I have. So it's still very early going into this. The key thing here is how do these wars get managed? Well, There's one thing that's happening right now. You got Melania Trump.

10:20 That's right. That's not a misprint.

10:23 Trying to secure a ceasefire with what's happening in Russia. And when you've got Melania pushing on this, I mean, what's going on here, guys? Do we not have enough people in the Trump administration to out here, go out and negotiate these kind of things? All this is supposedly happening October 29th. So all of this lining up right before the midterms. And right now, with a very down month in the market, so as the market's basically pinning in on what's happening with Melania's ceasefire, that's the issue.

10:52 We've got Toli out there kind of poking a little bit of lightheartedness to it. Is there anything a Solana Dev can't do? All right, so I want to go back to the banks for a second.

11:01 Because this surprised me.

11:03 And now it's even Netanyahu is not feeling safe in the bank. And he's talking about a completely alternative to what's happening in their own banking system because they're in concern of banking sanctions.

11:16 This includes things like the blockchain.

11:18 And they're not camping on the military of the United States being able to protect them as much anymore. They're looking at all sorts of things, including this right here. We need to understand that there could be a banking sanction. You need to prepare alternative economic systems. And you know what that is? And you know what kind of currencies to bypass this, and he's working.

11:38 On that as well. So watch this if we're seeing it at that level.

11:42 Elites are not safe. Countries like Israel may be not safe. These are the issues that our time is facing right now. China, though, has gone a different route. They are going toward gold as they purchased 25 tons of gold in August alone. This is all coming off the London OTC. and it continues to push. China's been one of the biggest acquirers of gold over the last year and continue to press in this way. So be on the lookout for China.

12:09 That's another factor to watch. Last up, you've got Ethereum postponing Glamsterdam, which affects the potential for a QDA research that starts to put ETH ahead. This is not good for the industry. And I say this from the crypto industry, definitely not good for ETH. This was something that they were doing to basically prepare for what might be happening around some of these hacks that were occurring within.

12:34 The AI ecosystem. So there's a lot of.

12:37 Things hitting all at once, guys, and it boils down to this. Does the market continue down or do we see this sell-off subside?

12:47 Well, here's Tom Lee. Would you buy the sell-off yet?

12:52 Yes.

12:52 I think we're near the end stages of the sell-off because it's become a consensus short to be shorting tech. And I think yields, which was really worrying markets, as you know, they've backed away. So I mean, you've got two things that were headwinds before. The Fed, quite hawkish, now it's flipping potentially dovish. And interest rates, which were touching 5%, people fearing 6%, are now back below 5%.

13:16 I think the only things you have now is debt markets are kind of closed at the moment.

13:21 And of course, the uncertainty about the war. I mean, would you if you say, yes, I'd buy it, where would you buy it?

13:27 Would you stay just with these largest AI related stocks in the market?

13:32 Yeah, I think they're bottoming. But I also like the software and I like the crypto here. I think kind of the whole broad cyclical trade, I'd be pretty bullish on. And as you know, financials haven't been rallying, but rates are coming down. So I think there's a lot of opportunity. This is what I view as a coiled spring because the fundamentals have been holding in.

13:54 I don't know that I agree with Tom on this one. And the point is, if you look at the S & P, this is coming in from the daily, even if you go back here to October 6th. And you look at that high, which was setting at around 7,800. You're holding at 7,634 right now. That is almost a 3% variation on a very short timeline.

14:15 For the S & P.

14:16 That's a big deal for the S & P 500. You compare what's happening right now, and I don't know that we are out of the woods yet, My concern is there is going to be a critical attack, one that maybe even brings in the administration to do something. That's a concern because this is getting very close.

14:35 Guys, to the midterms.

14:37 Put that in your bank and think about that for a second. What could happen between now and November 4th that could possibly cause disruption?

14:47 I'll leave it with that.

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