Bank of England Implicated

I am surprised that this is coming out. It looks like the public outcry for prosecution has prompted this uncharacteristic honesty from a banker.

It confirms (if proven to be true) that the corruption goes all the way to the top.

We already knew this but now we have a top banker turning and the gloves will come off.

How many will go down when they all turn on each other to try to excuse their behaviour or save their skins?



The following Memo is taken from the Huffington post

File Note: Call to RED from Paul Tucker, Bank of England Date: 29th October 2008 Further to our last call, Mr Tucker reiterated that he had received calls from a number of senior figures within Whitehall to question why Barclays was always towards the top end of Libor pricing. His response was "you have to pay what you have to pay". I asked if he could relay the reality, that not all banks were providing quotes at the levels that represented real transactions, his response "oh, that would be worse". I explained again our market rate driven policy and that it had recently meant that we appeared in the top quartile and on occasion the top decile of the pricing. Equally, I noted that we continued to see others in the market posting rates at levels that were not representative of where they would actually undertake business. This latter point has on occasion pushed us higher than would otherwise appear to be the case. In fact, we are not having to 'pay up' for money at all. Mr Tucker stated the levels of calls he was receiving from Whitehall were 'senior' and that while he was certain we did not need advice, that it did not always need to be the case that we appeared as high as we have recently. RED

The Article

edit on 3-7-2012 by Threegirls because: to clarify

edit on 3-7-2012 by Threegirls because: typo

edit on 3-7-2012 by Threegirls because: to correct

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edit on 3-7-2012 by Threegirls because: to clarify

Basically Barclays were complaining that they look bad because the other banks were fudging the numbers and they are told that they really didn't need to keep looking bad, nudge nudge wink wink.

edit on 3-7-2012 by Threegirls because: ARGH

That link is about the ex French president... did you mean this one, implicating the BofE in the Barclays banck scandal....

www.bbc.co.uk...

CX.

Well, not sure the BoE is complicit here, as they didn't tell Barclay's to do anything and, it would appear, were merely querying the reasons why Barclay's were higher. It does, however, appear that some of the Barclay's Management took this as an instruction to seek to pay less on their LIBOR thingy...

I guess we'll see what Diamond has to say to Parliament and who these "senior" figures are and exactly what they said.... There is enough evidence here to at least begin a criminal enquiry.

Wtf is libor? Whats this memo even say?

reply to post by phroziac


It's the interbank lending rate:

Here, read this.....

reply to post by CX


Er sort of.... I am really sorry about that.

I had a serious brain fart!!

Please all, forgive my idiocy

reply to post by stumason


Personally I would say that

it did not always need to be the case that we appeared as high as we have recently

Would sound, to the morally bankrupt as permission to fudge the figures.

Basically Barclays were complaining that they look bad because the other banks were fudging the numbers and they are told that they really didn't need to keep looking bad, nudge nudge wink wink.

I think the bank of England, is a bit like the Federal reserve. In its own square mile, with its own law, not even british. A bit like the Vatican and Washington? So theres no honour among`st the banksters. I wonder what else will come out of all this mess. Maybe the truth for once. Although I dont think there should be another enquiry. Just send in the Police and let them deal with it. Crimes have been comitted so let them go to jail, like any other normal person. In fact never mind the police doing it. Let the people who lost their homes and money do it.

Hahaha

I have daydreamed about this day on numerous occasions!! And now it's coming true. I just knew that when Bob went down he wasn't going to go quietly!! Especially now that he's not getting his hush money/bonus!



On a side note, I've been wondering if all those resignations earlier this year have anything to do with this??

Originally posted by Threegirls
reply to post by CX

 

Er sort of.... I am really sorry about that.

I had a serious brain fart!!

Please all, forgive my idiocy

Lol no worries, you could brain fart all day and you still wouldn't reach my total on this site.

CX.

Er, would this have anything serious of consequence for anyone behind it?
can a conviction for peice fraud or whatever be made against who?
What about the 15 freakin trillion dollar scam at the bank of scotland?why arent they investigating that rip off?
bernanke and that other numskull of his signed off personally on that one!
There was NO gold to back the depost of 15 trillion $ in BoScotland....they lent it out anyway and it earned another ten trillion even though it doesnt exist!
jeesus h on a crutch whats the birts doing over there?
That lord (Blackthorne i believe,) put it before the house of lords...and nothnig happened..because Sassoon got involved!
Q:How many lamp posts in a square mile?
A: Enough to hang a lot of thieveing bankers!

reply to post by CX



I am a 5 year old. Do i get any stars for this one? It might add to my collection of brag points. Really, that is what this implication stuff is all about. I better than you because i say so, because i took it from you because you are a sheep and therefore you deserve your downfall because people like them can do it to you, so they THINK, they better attitude. Seems like these people have a MENTAL disease. NO?

Originally posted by cloaked4u
reply to post by CX

 

I am a 5 year old. Do i get any stars for this one? It might add to my collection of brag points. Really, that is what this implication stuff is all about. I better than you because i say so, because i took it from you because you are a sheep and therefore you deserve your downfall because people like them can do it to you, so they THINK, they better attitude. Seems like these people have a MENTAL disease. NO?

Hi there, apologies if i sound thick or if i'm jumping to conclusions, but is your comment a sarcastic dig at a) me, b) the thread author, or c) the banks?

Like i say, apologies but i couldn't quite grasp your comment.

ETA: Re-reading that, i guess you're talking about the mentality of the banks, and that maybe english is not your first language? If so, i apologize. Not sure they have a mental illness, but these people do seem to suffer from some sort of delusion at times. That they are above everything, that they are untouchable.

CX.

Britain is a very corrupt nation, no doubts.There are secret slush funds of trillions controlled Jacob Rothschild as stated by EU member of parliament Ashley Mote.Britain's future is comparable to the banana republic of Zimbabwe once all the scams and ponzi schemes of the Monarchy and the Rothschild are exposed.

reply to post by ludwigvonmises003


I have nothing but contempt for this country's politicians / bankers / corporate bosses / MSM / judiciary etc, the incestuous realtionship between them and the systems and institutions that support and maintain them, however, likening this country to Zimbabwe is pretty much wide of the mark.

Nations come and go - the UK will survive regardless of the fate of the current banking and government systems - underestimate the people of the UK at your peril.

Just another excuse and opportunity for some Brit bashing ludwig?
You are so predictable, rarely, if ever, have anything constructive to offer threads you post in and are really quite inane.

reply to post by Freeborn


I am stating that UK could suffer from hyperinflation /galloping inflation like Zimbabwe. .That seems to the plan,inflate and bankrupt everyone,the Rothschild way.If the peasant nations don't obey then destroy them Pax britannica style.

This is not just about Barclay's there are other banks involved. You can't control the Libor rate unless you are colluding with other banks. There is long way to go with this investigation. Barclay's are just the first to be exposed.

I am convinced that not only the BoE knew what was going on, and pulling the strings, and have done for some time, but also the government, both the Labour and coalition governments., and possibly even the Tory government in the 90's.

This is nothing more than the scum who got caught trying to drag other people down with them. I hope it does escalate and the entire system unravels as a result, and the people finally wake up to how deep and hard we have been screwed by these evil creatures over the decades.

reply to post by ludwigvonmises003


Inflation dropped to 2.8% in the UK in June - hardly hyperinflation is it.

Interesting to note that inflation in your beloved India rose to 7.55% in May.

The UK is not about to be crippled by hyperinflation.

As for the rest of your post I really haven't got a clue what your talking about.
Clarification in simple, layman's terms would be appreciated.

Sitting here watching Bob Diamond being questioned, it is quite clear that he was always aware of Libor rate fixing, the Bank of England was always aware of it (and that all of the banks were doing it) and he really 'loves Barclays'.

He does not mention the impact his company has had on customers, little guys. He is only concerned about the reputation of Barclays and the rest of the staff.

It is also obvious that he has been warned about implicating the Bank of England even though it is obvious that to all of them that they already were aware and had not taken any action. The issue had been raised in the media previously and no-one took notice.

The amount of prosecutions brought against Barclays is enough to demonstrate the culture at the bank has been toxic, particularly for the vulnerable ie borrowers and small businesses.

I want to add for the benefit of the 'monitors' (not mods or staff) that I am just a mum, not particularly educated, I am one of the 'little people'. I GET IT, most of us out here get it. I am also well respected by those who know me, they listen to what I say now, partly because you have helped to open their eyes. They/we/you are all waking up to the truth.

You, the people in powerful positions are corrupt and are at the very end of this game. It's game over.

John Mann MP said what we all want to say to you all.

"You are either complicit, or you are incompetent"

You will receive no severance or compensation, any of you.

That goes for lots of MPs and corporate tools too.

MWAHAHAHAhahahaha....