The Libor Scandal.The Biggest Financial Scam In World History.. so far..
- Video Start 00:45
Video : http://www.youtube.com/watch?v=UxqGLIDO2Fg
Well, some of you by now have probably heard that the former CEO of Britain’s Barclay’s Bank resigned over the LIBOR scandal, and has accused the bank -along with others — of “fixing” interest rates. I have to be honest: when I saw this, I simply laughed:
The Biggest Financial Scam In World History :
Now the LIBOR is simply an acronym for London Inter-Bank Offered Rate, the rate at which banks extend credit to each other, similar in effect to the Federal Reserve’s rate.
Now, as usual, The Daily Bell has been following this story, and I cite their most recent article on the LIBOR “scandal” here, for it points out the cognitive dissonance of the culture we live in, for in this case, the cognitive dissonance is caused by the central banksters themselves:
source : http://gizadeathstar.com/2012/07/barclays-former-ceo-banks-were-fixing-intere…
The LIBOR Scandal Is a Sham Engineered by Central Banking Elites?
The Biggest Financial Scam In World History .. so far..
LIBOR-Gate Will Take Down Many More Bankers, And The Claims Will Spiral Into The Trillions
Libor scandal rhymes with history
Start 00:45 – VIDEO:”Viewpoint” host Eliot Spitzer, Matt Taibbi, Rolling Stone contributing editor, and Dennis Kelleher, president and CEO of Better Markets, analyze the Libor interest rate–rigging scandal engulfing the banking industry.
Barclays CEO Bob Diamond recently resigned after the bank was fined $453 million for its part in the scandal, which involved manipulating the London Interbank Offered Rate (Libor), a key global benchmark for interest rates, by essentially “faking their credit scores,” according to Taibbi. And as Taibbi explains, Barclays couldn’t have acted alone.
“It can’t just be Barclays and the Royal Bank of Scotland. In fact, it can’t even be four banks or even five banks,” he says. “Really, in the end it’s probably going to come out that it’s going to be all of them … involved in this. And that’s what’s critical for people to understand: that this is a cartel-style corruption.”
Kelleher argues that the Libor scandal is proof that the financial industry “is corrupt and rotten to its core.” “The same executives [using] the same business model that crashed the entire financial system in ’08 are still running these banks,” he says.
‘The mob learned from Wall Street’: Eliot Spitzer on the ‘cartel-style corruption’ behind Libor scam
July 3, 2012
Barclays Brawl: ‘Elite manipulated market, UK laws only give slap on wrist’
Keiser Report: Fraud & 60 Orgasms (E311) libor rig
Keiser Technique for financial criminals
BREAKINGVIWS-Libor scandal rhymes with history http://in.reuters.com/article/2012/07/09/idINL3E8I931R20120709
video source : http://www.youtube.com/watch?v=mWqlTjKPb3Y