Everything Is Rigged: The Biggest Price-Fixing Scandal Ever

[Mageant]

"Conspiracy theorists of the world, believers in the hidden hands of the Rothschilds and the Masons and the Illuminati, we skeptics owe you an apology. You were right. The players may be a little different, but your basic premise is correct: The world is a rigged game. We found this out in recent months, when a series of related corruption stories spilled out of the financial sector, suggesting the world's largest banks may be fixing the prices of, well, just about everything. ..."

read more:
http://www.rollingstone.com/politics/news/everything-is-rigged-the-biggest-financial-scandal-yet-20130425

Looks like the banks will be going down soon.
The time for Bitcoin is coming!
 

[Mike Christ]

The comments.    Faith in humanity permanently restored.

[myrkul]

The comments.    Faith in humanity permanently restored.

LOL "You wanted to use a banker as a coffee table?"

[hawkeye]

The comments.    Faith in humanity permanently restored.

My first skim through them gave quite the opposite impression.

It was all comments about how government should go after the bankers.  imo, the bankers are a symptom not the disease. 

I don't know why anyone thinks that prosecuting bankers, assuming you can because most have probably followed the "law", will mean that others won't come along afterward to participate in what is fundamentally a govt-banking crony cartel to rig money and interest rates through a forced monopoly.   

You are looking to a fundamentally criminal organisation to protect you from criminals that have been enabled by that organisation's fundamental nature.   But I doubt people are ever going to get it at this point.

[Mike Christ]

My first skim through them gave quite the opposite impression.

It was all comments about how government should go after the bankers.  imo, the bankers are a symptom not the disease. 

I don't know why anyone thinks that prosecuting bankers, assuming you can because most have probably followed the "law", will mean that others won't come along afterward to participate in what is fundamentally a govt-banking crony cartel to rig money and interest rates through a forced monopoly.   

You are looking to a fundamentally criminal organisation to protect you from criminals that have been enabled by that organisation's fundamental nature.   But I doubt people are ever going to get it at this point.

It's a start.  Once you have a distrust for one government-sanctioned entity, you have a distrust for it all.  Considering we've been through generation upon generation who either doesn't want to know or refuses to know, it's refreshing to see this generation "wake up".

It's just an arm's length away from hitting the truth.  If the government enabled the banks for decades, they're both a problem.  But it takes time to understand, and I'll give them time.

[ButchHashidy]

WE WONT BE FOOLED AGAAAAAIN .. OH NO . OH NO!

*gets fooled*

EVERYONE should know about this.  This article really puts this more complicated corruption in lay terms.  If this happened a hundred years ago, I think people would go door to door, find these mad men, string them up on a phone poll by their little raisin nutsacks until they bleed out.  People should be FURIOUS at these inferior pieces of DOOKIE BALLS

[1m1nd]

Thanks for the link, will pass it on.

My take on the populist narrative - since 2008/9 there's existed a populist "anti banker" narrative. It's an oversimplification and not at all helpful. "Bankers" aren't the problem any more than blaming individuals is the solution. These problems are systemic. They reveal the shortcomings of our regulatory systems, but more than that they are symptomatic of a darkness in the hearts of men. A lust for power over others and a lack of compassion. It's a spiritual battle as old as mankind, and the stakes are high.

[AlgoSwan]

Looks like the banks will be going down soon.

Matt Taibbi, 2008, GS, déjà vu all over again! Oops, now it is LIBOR! What a big surprise!
Go BTC go!

[WeedGrassDope]

It's all human nature.  We'll never beat it because it defines us. 

[Operatr]

Bankers and stock sharks are polishing brass on the Titanic. But thanks to their rampant greed and corruption pushing the system to failure, they will hang themselves by their own petards soon enough for their actions.

[Biomech]

WE WONT BE FOOLED AGAAAAAIN .. OH NO . OH NO!

*gets fooled*

EVERYONE should know about this.  This article really puts this more complicated corruption in lay terms.  If this happened a hundred years ago, I think people would go door to door, find these mad men, string them up on a phone poll by their little raisin nutsacks until they bleed out.  People should be FURIOUS at these inferior pieces of DOOKIE BALLS

uh... This DID happen a hundred years ago. Almost exactly. This is just a symptom. Google Jekyll island.

[Foxpup]

Bankers and stock sharks are polishing brass on the Titanic. But thanks to their rampant greed and corruption pushing the system to failure, they will hang themselves by their own petards soon enough for their actions.

The phrase is "hoist by their own petard". A petard is a type of bomb, and the phrase refers to what happens when the bomb goes off prematurely (the user is "hoist" skywards, ie, blown up in the literal sense).

[bb999]

It makes sense though, if there is no law enforcement against fraud then the easiest way to make money is to commit fraud, so that's what the banks do.  look at all the various scams people try on these forums, it's sadly much easier than making an honest living.

[Biomech]

It makes sense though, if there is no law enforcement against fraud then the easiest way to make money is to commit fraud, so that's what the banks do.  look at all the various scams people try on these forums, it's sadly much easier than making an honest living.

yeah, except that private scammers can only pull it off til they get caught or take their loot and vanish.

Governments and their paid servants/masters/symbionts can pull it off perpetually until the system either fails as in Weimar germany or until a revolution occurs.

Currently in the United States the so called "public sector" pulls in "wages" almost 40 percent above what you can make honestly. Even the lesser organized crime cartels aren't doing that well.

[bb999]

It makes sense though, if there is no law enforcement against fraud then the easiest way to make money is to commit fraud, so that's what the banks do.  look at all the various scams people try on these forums, it's sadly much easier than making an honest living.

yeah, except that private scammers can only pull it off til they get caught or take their loot and vanish.

Governments and their paid servants/masters/symbionts can pull it off perpetually until the system either fails as in Weimar germany or until a revolution occurs.

Currently in the United States the so called "public sector" pulls in "wages" almost 40 percent above what you can make honestly. Even the lesser organized crime cartels aren't doing that well.

I was not trying to compare the scammers on here to the government.  I would say what the government does is less a scam and more totalitarianism, even if you know it's happening you can't fight it without getting the liberty reserve or e-gold treatment.

[FCTaiChi]

Why not go after the people who actually perpetrated the crime?  What is the proper response, if not pushing back where you can?  The other option presented was to go to the root of the problem.  Money in politics?  I'm not sure what everyone thinks the base cause is, but yes... for once, stop them from buying they way out of justice.  I think a lot of the angst you see here is from the inequity of law.  You steal from a bank you go to jail, bank steals from you maybe some fines are paid.

[Biomech]

It makes sense though, if there is no law enforcement against fraud then the easiest way to make money is to commit fraud, so that's what the banks do.  look at all the various scams people try on these forums, it's sadly much easier than making an honest living.

yeah, except that private scammers can only pull it off til they get caught or take their loot and vanish.

Governments and their paid servants/masters/symbionts can pull it off perpetually until the system either fails as in Weimar germany or until a revolution occurs.

Currently in the United States the so called "public sector" pulls in "wages" almost 40 percent above what you can make honestly. Even the lesser organized crime cartels aren't doing that well.

I was not trying to compare the scammers on here to the government.  I would say what the government does is less a scam and more totalitarianism, even if you know it's happening you can't fight it without getting the liberty reserve or e-gold treatment.

eh. A religion is a successful cult. A government is a successful scam.

[Biomech]

Why not go after the people who actually perpetrated the crime?  What is the proper response, if not pushing back where you can?  The other option presented was to go to the root of the problem.  Money in politics?  I'm not sure what everyone thinks the base cause is, but yes... for once, stop them from buying they way out of justice.  I think a lot of the angst you see here is from the inequity of law.  You steal from a bank you go to jail, bank steals from you maybe some fines are paid.

There has been no REAL line between banks and the rulers since at the very latest, 22 July 1944, and really I think 1913 is a better closure date from the complete miscegenation of government and bankster.

J.P. Morgan was openly trying for it before that, as were the Rockefellers, among others. John Maynard Keynes (who makes me wish I believed in an afterlife just so I could imagine him rotting in hell) published his General Theory of Economics in the early 30's, and catered to everything the governments wanted and that the central bankers wanted in his "theory". He even admitted, no, CROWED that it applied better to a totalitarian system than to a free market. He made it abundantly clear in his entire dealings and life that he simply didn't give a fuck about long term outcomes, his famous quote on it being "in the long run we're all dead.".

None of his "theories" hold water from an economic standpoint, but from the point of concentrating a huge amount of power in a very few hands, it's a marvelous idea.

Should any of you think that politicians have any goal aside from getting their hands on the levers of power, I suggest you hold your nose and get involved in the actual political process for a bit. I made that mistake in my youth. I recommend it whole heartedly to anyone who harbors any doubts about the nature of government and rulership. You will quickly discover, as I did, that a politician wants POWER over other humans like a drowning man wants air. Most of what they do in public is theater. They only care about the "people" in the sense that a rancher cares about his cattle. If even that much. They manipulate the currency that we use in order to gain the currency that THEY use, and in most of the West, that currency is YOUR vote.

Mine has been out of the system for the past decade. They have nothing I want.

[kodo]

God, conspiracy theorists piss me off sometimes.

[FCTaiChi]

What's a conspiracy?  Oooh conspiracy theory.  That means something is silly.  No..  it means that two or more people came to a deal that is somehow detrimental to a third party.  That doesn't mean 'THEY'RE OUT TO GET YOU!'  It does mean that they're out to get whatever they can.  If you don't think 'scary conspiracies' happen then you need to pay more attention.
Do you even know what the LIBOR scandal is??
Ha, I'm responding to thin air, you didn't come to learn anything, but to cast aspersions.