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Friday 6 July 2012

Libor: The Biggest Financial Scam in the World


The truth of the reality of our economy and financial collapse is flooding out into the main stream media.  The corruption of the Bankers and their controllers is finally being discussed in "The News" and the people of the world are being abruptly woken up to the fact that everything in our banking system, and personal and global finances, is a complete scam - a SCAM of epic proportions. From the very top to the very bottom and every level in between,  the entire system is corrupt.



"What we need is to wipe out the entire generation of so called banking leaders who apparently have no ethics or integrity... " - Financial Times








"This means they have stolen money from everybody - you, me, humanity. this is a crime against humanity. they fake their own credit score. so if the cops don't go get them... we will. they know we are coming and they know what we bring. - anonymous

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."


This blog article outlines the basic information of Libor and how it effects to ALL of us:




The Biggest Financial Scam In World History

Why Is the Libor Scandal So Important to You?

There have been numerous big banking scandals recently.
But the Libor scandal is the biggest financial scam in world history.  See this and this.
The former CEO of Barclays said today that banks across the world were fixing interest rates in the run-up to the financial crisis .
Professor of economics and law Bill Black notes:
It is the largest rigging of prices in the history of the world by many orders of magnitude.
Indeed, the scandal effects an $800 trillion dollar market – 10 times the size of the real world economy.
Matt Taibbi explains that this is the “mega scandal of all mega scandals”, because Libor is the “sun at the center of the financial universe”, and manipulating Libor means that “the whole Earth is built on quicksand.”
Local governmentscredit card holders, studentssmall businessessmall investorshomeowners and virtually everyone else in the entire world has been impacted by the manipulation.
Credit card debt – almost a trillion dollar market – is pegged to LiborSo are student loans – a trillion dollar market.
Mortgages are a bigger market: around $10 trillion dollars in the U.S.  The Washington Post notes today:
60 percent of prime adjustable rate mortgages, and nearly 100 percent of subprime ones, were indexed to LIBOR.
***
That means that when LIBOR rises, so do the prices ordinary consumers pay to, say, get a mortgage.
***
So how did the manipulations by Barclay’s affect this rate? First, from 2005 and 2007, the bank allegedly varied the rates it reported to the BBA and Thomson Reuters so as to improve its margins on internal trades. For example, it could have placed bets that the LIBOR rate would increase, and then reported artificially high rates which in turn artificially increased the LIBOR averages, so that the bets were likelier to pay off. This … bumped up mortgage rates  however infinitesimally  for consumers even when the risk of the loans hadn’t changed at all.
Other loans – like small business loans – are usually based on Libor as well.
But that is all small potatoes compared to the $350 trillion in swaps tied to Libor.  Virtually every single local government in the United States has been scalped by Libor manipulation.
The big banks have robbed the whole world.


The original article can be read HERE- and I highly recommend reading the comments below it.


Do you see?  Do you understand the "Occupy" movements outrage over the Wall Street and Banker Scams?  Wake up people!  The Cabal  have stolen your future. Do you really need any more reasons to stand up and tell them "NO"?


... The Alarm clock is ringing and we're almost out of time.

1 comment:

  1. Film
    The Establishment feature film project http://www.indiegogo.com/projects/144470?a=777535

    Film Dedicated to: Victims of Criminal Anti-trust, Dominance, Monopoly, and Collusion (Canada/United States public at large outrage - see Occupy Wall Street)
    Feature Film Option/Rights Fee: $ 1MM (launched in 2002 - seven years prior to Wall Street financial meltdown of 2008/09)
    LOG LINE: A journalist must run for his life from the powerful Freemasons when he uncovers their centuries-old conspiracy to gain political control of the entire world.
    BUDGET: Action/Political Thriller titled, "The Establishment" (estimated budget: 15MM)

    Indiegogo lead entertainment investor Replies:

    Shawn McAteer, Feature Film Producer
    Telephone: 1. 613.552.9147
    Email: shawn.mcateer@live.ca
    2777 Jamieson Street Ottawa, Ontario CANADA K2B 6P3

    Note: Screenplay available upon request. "The Establishment" feature film project has expressed interest from both identified feature film investors (Longtale, New York Film-Group) including 'A' level actors (Alec Baldwin, David Bowles).. "The Establishment" will have the same international audience awareness of subject matter and attract large box office feature film sales as Ian Fleming James Bond 007 garnered over decades (Billion $$ Brand potential) , and with the success of this first release future sales may be obtained through multiple releases, books, merchandising, music artist sound track release, product placement, ecetera. People throughout North America and Europe have heard about 'The Establishment', now they can see the movie. I am available for a conference call to discuss the aforementioned Option/Rights offer, and follow-up through ratification of a contract agreement with Indiegogo lead entertainment investor

    Shawn McAteer - Profile: following graduation from Carleton University with a Bachelor of Commerce, Shawn jumped into the world of consulting founding and successfully growing a management consulting company to over 250 employees and $20 MM in annual billings managing sales quota of $3MM annually. He has more than fourteen years senior management consulting and market research experience securing engagements with medium to large private/public companies across North America. Shawn is the author of the best-selling book titled, “Business Dynamics Equals Business Success" that can be sourced at numerous college and university libraries across Canada; attended book signings at national association conferences with International Association of Business Communicators (San Francisco, CA + St. John, NB) and Canadian Public Relations Society (Toronto). Shawn continues to be published within trade journals and industry magazines on subjects related to Change Management, Knowledge Management, Strategy Implementation, and Leadership Development.

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