LONDON — It’s Friday the 13th, so it seems only fitting to remind credit unions that if their risk management checklist isn’t already full enough, one person is calling on policymakers to prepare for what the discovery of intelligent alien life will mean for the global financial system.
Helen McCaw, who worked at the Bank of England for a decade as a senior financial analyst before leaving in 2012, has written to Governor Andrew Bailey calling for emergency planning in the event the United States or another government confirms the existence of non-human intelligence, according to reporting by The Times of London.
McCaw argues that recent comments by senior U.S. officials and the gradual declassification of government material on so-called Unidentified Anomalous Phenomena, or UAPs, mean the issue can no longer be dismissed as science fiction.
‘Extreme Market Volatility’
“The United States government appears to be partway through a multi-year process to declassify and disclose information on the existence of a technologically advanced non-human intelligence,” McCaw wrote, warning that such a revelation could trigger extreme market volatility, loss of confidence in institutions and widespread financial instability.
The Times noted that several prominent American figures have publicly acknowledged the possibility of intelligent non-human life. Secretary of State Marco Rubio said in a recently released documentary that unidentified objects have repeatedly operated near restricted U.S. nuclear facilities and were “not ours.” Sen. Kirsten Gillibrand of New York (D) and former Director of National Intelligence James Clapper have also said the issue warrants serious scrutiny.
Outperforms Known Human Technology
In Britain, The Sunday Times recently reported that previously classified files showed the U.K. military had explored the possibility of obtaining “extraterrestrial” technology after intelligence assessments suggested unidentified craft could outperform known human technology.
McCaw warned that official confirmation of non-human intelligence could lead to a rapid run on banks, sharp swings in asset prices and disruptions to payment systems.
‘Catastrophizing & Euphoria’
“There might be extreme price volatility due to catastrophizing or euphoria,” The Times quoted McCaw as saying.
McCaw added that investors could rush toward assets perceived as safe, such as gold or government bonds, or alternatively abandon them in favor of digital currencies like bitcoin if trust in governments erodes.
“If banks start failing, the payment system will collapse,” McCaw said, according to the Times. “People won’t be able to buy fuel or food. You could see unrest very quickly.”
‘It’s Madness Not to Consider It’
McCaw said central banks and governments should prepare even if the likelihood appears remote. “Even if you feel it’s very unlikely, it’s madness not to consider it and plan accordingly,” she said.
According to the Times, McCaw has written a chapter on the financial implications of UAP disclosure for an upcoming book edited by Alex Wendt, a professor of international security at Ohio State University.
McCaw said her interest in the topic began after reading a peer-reviewed NASA paper on unidentified flying objects in classical antiquity. While she acknowledges her views attract skepticism, she said the goal is not public attention but ensuring policymakers are briefed.
