Scores of bankers have failed in a bid to prevent their names being revealed during preliminary hearings of a High Court case centred on the rigging of a lending rate by Barclays staff. More than 100 employees or former employees of Barclays wanted their identities kept secret during pre-trial hearings in London on Monday. But […]
Tag Archives: LIBOR
As the fallout of Liborgate escalates, the next big bank to be impacted in the fallout started by Barclays civil settlement “revelation” is set to be troubled UBS, already some 10,000 bankers lighter, where as many as three dozen bankers are reported by the implicated in the fixing of the rate that until 2009 was […]
Updated with correct link! If you are or know a New Zealand Farmer who lost his/her farm as the result of the Derivatives sold to him you might want to watch this and give the link to your farming colleagues! The first half lays out why the selling of these fraudulent instruments and the subsequent […]
Well, actually they are two words but the meaning I want to explain to you comes into existing by combining the two. (Currency) Carry trade= The practice of borrowing cheap money from countries where interest rates are low, converting it to another currency and buying high interest assets. Example= A trader borrows a 1000 yen, […]
JP Morgan Chase registered as a bank in New Zealand on the 1th of October 2007 although on their official website they sell them selves as having a 140 year old history with Australia and New Zealand. It was in that same year the alleged LIBOR manipulation started according to the latest revelations. JP […]
A very interesting article on the LIBOR scam. I don’t subscribe to their assertion that a Cartel formed under the noses of the CEO’s of the too big to fail banks without them knowing. I would even go as far as asserting that the real cartel of bankers, the ones who pushed the Reserve bank […]
For those of you who think nothing is being said in the MSM about both the Financial Global Collapse and the LIBOR rigging scam may I remind you that this is August and that every politician, journalist, banker and their dog on the Northern Hemisphere is currently on holiday so not a lot seems to […]
Around the world Pension funds are being exposed as underfunded and unable to cope with demand. In 2002 a Merrill Lynch investment and wealth management banker named Ira Bing took place on the first board of Guardians of a new founded Sovereign Wealth fund we now call “the Cullen fund”. He stayed on the board […]
If the Barclay traders could earn US $ 44 million daily by rigging the LIBOR, just think how much the traders of all the other LIBOR setting banks will have stolen from the rest of us. Here is a nifty Infograph explaining the LIBOR scam so that even the thickest person can understand. I wouldn’t […]
With the verification of the widespread rigging of the LIBOR (London Inter banking offered rate), the rate supposedly set to allow for a proper free market banking mechanism we went from Conspiracy theory to Conspiracy fact with regards to the bankers colluding to artificially setting the LIBOR and with that it is interesting in hindsight […]
For those of you who don’t know Timothy Geitner and Mervyn King or Paul Tucker let me give you a quick introduction. Mervyn King is the Governor of the bank of England. The bank, which is like our Reserve Bank is supposed to be separate of the government and has the job of managing the […]
The first court case in the LIBOR (London interbank offered rate) crime wave was started in August 2011. One of the banks involved was the Bank of America where John Key has most of his paper wealth. Here is the court paper: Question: Why isn’t John Key fuming on behalf of us that we have […]
John Key knows about this because traders rely heavily on the LI(e)BOR for their currency speculations and he would know how to read the LI(e)BOR like his back pocket. The Reserve Banks knows about this. So why aren’t they bristling about this? Because they know it would expose the system for what it is: A […]
This weekend Hubby and I started a much needed two week mid winter break. We have to make the most of the sunny days to achieve the first phase of what will become a Perma-Culture food forest in one part of our paddock. While I won’t stop blogging it might be a bit more haphazard […]
Bugger, running out of time today! Here is some nice stuff from Washington blog about why you should be furious! 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 […]
Update: As I was writing this I realised that if we accept that some of the big players in the financial world were involved in insider trading just before the events of 9/11 making money of the events of 9/11 and if we accept that LIBOR was manipulated from as early as mid 2004 with […]
Update: FBI to begin investigations into the LIBOR rigging scam and What was said in the phone call between Mervyn Kings deputy and Barclays. It was only three weeks ago that John Key met with Mervyn King the Governor of the Bank of England and while we know everything about his conversation with the Queen […]
Confused? Here are Max Keiser and Stacey Herbert talking about the bankster LIBOR rigging and why bankers think they don’t commit crimes!
From Washington’s blog Two stories this week prove once again that the big banks are literally criminal enterprises. Initially, all of the big banks have engaged in Mafia-style “bid-rigging” of municipal bonds, to bilk money from every city in the nation … to the collective tune of tens billions of dollars. And Barclays and other […]
When you or I get caught doing something illegal such as smoke pot or burgling someone else’s house we probably end up in jail which in the US means having to do slave labour in a privately owned jail. In China if you get caught scamming the banking system as a banker, even a rich […]
