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Forum Post: Libor Criminal Rate Fixing Conspiracy Finally Surfaces.

Posted 1 year ago on July 4, 2012, 9:02 a.m. EST by LloydJHart (190) from Vineyard Haven, MA
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Libor Criminal Rate Fixing Conspiracy Finally Surfaces.

By Lloyd Hart 508-687-9153

First, do you know what the Libor is? Secondly, did you know that when the criminals behind the scheme fixed the rate higher in 2008 may have caused you or your parents to lose their home?

Oh, and all the big banks are implicated in this 534 trillion dollar criminal conspiracy.

Oh, and half the student loans in America are effected by the Libor.

Libor:

From Wikipedia, the free encyclopedia Jump to: navigation, search

The London Interbank Offered Rate is the average interest rate estimated by leading banks in London that they would be charged if borrowing from other banks.[1] It is usually abbreviated to Libor (play /ˈlaɪbɔr/) or LIBOR, or more officially to BBA Libor (for British Bankers' Association Libor) or the trademark bbalibor. It is a benchmark, along with the Euribor, for interest rates all around the world.[2][3]

Libor rates are calculated (criminally fixed) for different lending periods: overnight, one week, one month, two months, six months, etc., (for when banks need to hide their liabilities) and published daily at 11:00 by the British Bankers' Association.[4] Many financial institutions, mortgage lenders and credit card agencies set their own rates relative to (and typically higher than) Libor.

http://en.wikipedia.org/wiki/Libor

Guardian live page on "Libor Scandal". http://www.guardian.co.uk/politics/blog/2012/jul/04/bob-diamond-mps-barclays-live

The Latest from the Independent. http://www.independent.co.uk/news/uk/politics/david-cameron-slams-spivvy-and-probably-illegal-interest-rate-rigging-ahead-of-bob-diamond-evidence-session-7911987.html

Barclays Libor Scandal: Rate Rigging Affects Your Loan Payments http://www.huffingtonpost.com/2012/07/03/barclays-libor-scandal-rate-fixing-loan-payments_n_1646876.html

5 Comments

5 Comments


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[-] 1 points by Builder (4202) 1 year ago

I'm thinking that Mr Diamond from Barclays is the fall guy for the rest.

The press keeps talking about the HUGE fine that Barclays has had to pay. 450 million is a drop in the ocean compared to the profits the illegal actions netted them. Not to mention the Global Financial Crime they contributed to.

Sure, heads will roll, but not many, and certainly nobody at the top of the tree.

[-] 1 points by alterorabolish1 (569) 1 year ago

This is as big as a scandal can get! Confidence in the financial system will require radical solutions!

My gosh, must we insist on actually taking over the banks to stop this?

[-] 0 points by hchc (3297) from Tampa, FL 1 year ago

We need money that it tied to something, anything, besides the "faith" of a government.

China is buying massive amounts of gold. They know the next country to offer a sound currency is going to get all the business.

Many think this is what Khadafi was doing for Africa, trying to create an African Dinar that was backed by gold, and hence why we decided to suddenly go in and attack.

[-] 1 points by alterorabolish1 (569) 1 year ago

If anyone still has confidence in the world financial system, they're nuts! It may continue for a while simply because the scary amount of apathy allow government officials to do nothing about the problem.