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 the Bank of England and every other too-big-too-fail involved than we can come to only one conclusion this graph shows us in detail the playbook of the destruction of the financial world as the endgame towards our enslavement.
Here is a graph of the LIBOR rates since 2004:
As you can see in the middle of 2004 the interest rates begin to make a steady rise in neat little steps from 1 to 5 and a bit %.
Then in late 2007 there are a few spikes and a considerable drop until in late in 2008 (around about the time the New Zealand electorate voted in John Key) there are some massive spikes after which Libor begins to flat line just above the zero %.
The grey bar is when the Mortgage crisis began to bite and the recession started causing banks to stop lending to each other.
What is interesting is that there are some massive spikes around about the middle. Those spikes were the cause for massive panic and the decision to bail out the too-big -to-fail banks. A term which also originates from around about this time.
Now here is where it becomes interesting. At the time Zero hedge looked at the flat line segment of the Graph and began to question what they were seeing. They thought that it was strange that those banks with the biggest bailouts and government guarantees should lend at the highest interest whereas it should have been the banks with the least protection who should have asked for higher interest rates as they were the most vulnerable.
Zero hedge suggested that banks were manipulating the LIBOR but as ZH could not prove its assertion it was written down as a Conspiracy theory. Of course.
Now that we finally have proof that at least one bank and by admission of traders in other banks, multiple banks have been involved in the LIBOR “scandal” (which of course is a crime of biblical proportions and has nothing to do with scandal).
And that they have been doing so since 2005.
Why is this important? Well it makes every LIBOR rating during that time questionable.
If they can keep it artificially low than maybe they can also artificially spike it and that is cause for concern too as it was those spikes which caused the panic and which caused the US congress to bail out the big banks.