Bitcoin Forum

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Crooks gunna crook. Same old story.

What surprised me the MOST is that ANYONE actually looked at "the official interest rates" and went by that.

Why would any sane investor do that?

"Well gollyjee this bank looks like it's about to go under, but I GUESS if these other guys say I should only get 0,00001% on my loans to them everything should be FINE!" - Only idiots

They'll just lynch a few more "rogue" junior traders foot-soldiers, while I absolutely guarantee that the senior executives will never go to prison.

http://www.zerohedge.com/news/lieborgate-here-come-arrests (http://www.zerohedge.com/news/lieborgate-here-come-arrests)

ehhh not surprising, pretty much everything related to the financial markets is "somewhat" manipulated.

I used to work on wall street :S

I never worked on wall street, but came to the same conclusion. It's ridiculous to try and draw lines, just like in competitive sports/doping. What if someone shoots steroids? Unfair to others. What if someone prepares at high elevation to boost up rbc count? Suddenly this is not unfair. What if she has got unusually high levels of testosterone? Depends. Someone arbitrarily decides what value is acceptable. What if someone includes a plant in the diet that contains a yet-uncontrolled booster? Today OK, tomorrow not so much. It's all bullshit.

It's worth noting that this "scandal" kept interest rates artificially low. You paid less credit card interest, lower variable mortgage payments, lower almost everything. The British banks say "you're welcome."

For once, they actually screwed the rich who are net lenders of money, instead of the rest who are net borrowers.

You're forgetting about the inflation that artificially low interest rates cause. That hurts the poor far more than the rich.

Here is a great video on the subject:

http://www.youtube.com/watch?v=0oV2mI0IYp8

Fun to note that the Denver shooting is very likely linked to LIBOR.
(I mean more than just for creating a distraction.)

http://www.redicecreations.com/article.php?id=20936

http://jamesholmeswiki.com/james-holmes-parents-robert/

His father was to testify on LIBOR the weeks after.

Job Occupation. Senior Lead Scientist at Fair Isaac. He spent his entire life in the financial and credit services. His educational background shows exceptional emphasis on Mathematics. He has an extensive educational background. It is reported that he was about to go before Congress to testify against a banking scandal. Robert Holmes current position with FICO involves him handling Fraud

Let's put the fox in charge of the chickens, what could go wrong?  :)

There is no market regulated by strictly market consumers (i.e. a free market) in traditional banking. Were there one, depositors would shop around and pay attention to the credibility of each bank which in turn would force them to compete with one another and not collude. And it's that simple to solve this problem: remove FDIC, remove all guarantees, remove lenders of last resort, remove regulations and BOOM all the crooks will go up in smoke and what will remain are the honest players.

Well the role of the legitmatised fraud of Central Bank manipulation of interest rates has to finally come to the fore now .... doesn't it?

It is the CORE fraud that the socialist, centralised banking model is resting upon, the rottenness of the concept is finally bearing its just fruit.

Yep, but it might take a while. Might look like the current bitcoin economy for some time first.

Sure would be fun to watch.

More proof that our everyday lives are controlled by bigwig elistist assholes. If the attorney general can ship guns to mexican cartels in order to slander the 2nd amendment, and fucking WALK when hes busted, then the large money changers will not even get a slap on the wrist.

Have to call you out on this one. I haven't been able to find a decent source. Jon Rappoport says he tried to, but couldn't:

http://jonrappoport.wordpress.com/2012/08/04/fact-or-fiction-holmes-father-to-testify-james-holmes-photos-dont-match/

When a loon like him says there's no evidence for a claim...

Let me ask: what could possibly go wrong ?  ;)

1/Central Banks give the power of money creation to a cartel of banks
2/The cartel of banks creates money out of thin air by issuing debt: this is the only way for other participants to get new money in circulation.
3/The cartel of banks sets the "price" of money (the ultimate absurdity) by applying an interest rate

How could THAT possibly be called a "market" or a "market economy": this is just a sure recipe to destroy capitalism and society.
LIBOR was just too obvious a scam because there are so few participants but any other interest rates are equally illegitimate and fake.

Connecting the recent Batman shooting to Libor...

http://www.helpfreetheearth.com/news617_batmanwhohow.html


I have not verified this information myself :)

Pretty sure thats his dad. Never seen any evidence he was going to testify in front of congress.