However, now after studying the EMP effects of a potential Carrington like Solar Flare event and studying just how weak and with holes in it our magnetosphere presently is I have another reason on top of the first one to demand hard copies of all banking and investment records. Because the people who only have online records besides being completely vulnerable to hackers at all levels are also liable to lose whatever money they have in the bank or investments if a Carrington like event occurs.
The reason for this is that unless the backup memories for all banks and investment institutions are Non-magnetic there is no guarantee that any magnetic (electrical) based memory will still exist if a Carrington like event occurs.
What are the chances for a Carrington like event in the next two years?
I would say that this solar maximum is the most similar to the solar maximum that originally Created the Carrington event in 1859
en.wikipedia.org/wiki/Solar_storm_of_1859The solar storm of 1859, also known as the 1859 Solar Superstorm, or the Carrington Event, was a powerful solar storm in 1859 during solar cycle 10.
end quote from Wikipedia.
So, since 1859 the next two years are the most likely for this event to occur second only to 1859. So, not being prepared for this event(which the world presently is not) is potentially life threatening to millions if it actually occurred in this day and age.
note: IN some ways it would be a favor for the human race to experience this now because the likelihood that we would be in worse shape next time (within the next 500 years) is very likely.
So, if it happened during the next two years it might actually prevent the extinction of all or most of mankind the next time it might happen. We probably as a race of people on earth would survive it this time because much of our civilizations are not electrical in nature. But, if it didn't happen for 500 years it could easily be the end of the human race and a devolving into cave man status if it occurred 500 years from now.
So, since an event like this is not IF but rather WHEN it is something that we as a race on earth need to consider which we are not at present. (at least not enough to properly survive it in the future).