The LIBOR Scandal is the Biggest Scandal in History - Every Human on the Planet has been Ripped Off!

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posted on Jul, 5 2012 @ 07:42 AM
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LIBOR rates are what EVERY loan rate is set by, mortgages, business loans, credit card rates. Sixteen banks set the rate every day through a series of phone calls. These rate agreements were treated as an inside cartel and the bankers used them to make TRILLIONS of dollars.

Every major bank is involved. Not just Barclays, every bank. The communist/socialist financial rag, the Financial Times, (joke) called last week for the immediate firing of every banker in an executive position. There is no semblance of ethics at all in the system.

The British press and the British political system is all over this, but you will hear almost nothing from the US MSM. It's too big, it will be cause tsunamis of law suits, and it is the beginning of the end for the banking cartel.

Here's a great video which explains it all for you:

Matt Taibbi, Rolling Stone contributing editor, and Dennis Kelleher, president and CEO of Better Markets, analyze the Libor interest rate-rigging scandal engulfing the banking industry with "Viewpoint" host Eliot Spitzer.



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posted on Jul, 5 2012 @ 08:06 AM
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When a scandal(crime) this BIG is allowed to get out, whatever is on it's heels we can't see yet, is going to be that much bigger. Don't focus on the smokescreen, focus on what the smoke is trying to hide in the background.

"Something wicked this way comes."
edit on 7/5/2012 by Klassified because: Clarity, and Woodwardjnr is right.


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posted on Jul, 5 2012 @ 08:08 AM
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It's always called a scandal when done by bankers and politicians, but a crime when done by the man on the street.



posted on Jul, 5 2012 @ 08:09 AM
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I agree with everything you have just said, but the sad reality is that none of these will get arrested.

Bob Diamond has to face an inquirey by MP's (oh god the fear he must have!) and that is all at the moment. Labour was calling for an enquiry to be done by judges, but Cameron decided it would be done by MP's because it was swift and quick (aka, just get the info on the top and leave the rest unpublished). The best we can hope for is something like the Leverson enquiry, but then again the Murdoch's are still out with no charges held against them.

My tip to everyone out there??

Leave your current job, get a new one in a bank, steal as much money as possible until you get caught, appologise and resign from your job. By the looks of things, that should be enough for you to not need a prison sentence, because leaving your job and saying sorry is enough to make sure you've learned your lesson.



posted on Jul, 5 2012 @ 08:12 AM
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It is fraud by the elite on the masses and they will get away with it unless people change their banks and organise protests.



posted on Jul, 5 2012 @ 08:14 AM
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off-topic post removed to prevent thread-drift


 



posted on Jul, 5 2012 @ 08:25 AM
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Fantastic Video. Thanks for posting. Please forward to your friends and spread the news.

It's very clear that contrary to the republican platform that govt. needs to get out of private business, govt. should be regulating these businesses. Sorry but time after time these banks and big businesses will screw everyone around them just to make a dollar. With the lack of keeping these businesses in check, there is no accountability and that is why you are seeing a rampant display of corruption in all aspects of business.

These clowns should be serving 10+ years behind bars for this. Enough is enough.



posted on Jul, 5 2012 @ 08:25 AM
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This is huge. Apparently, Bob Diamond sent out an email before he was forced in to answer questions that claims he was told to manipulate rates basically directly from members of the British government. If thats true it has the potential to get really ugly.

www.rollingstone.com... 04



posted on Jul, 5 2012 @ 08:38 AM
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Not available outside the US.

Just thought I'd let you know.



posted on Jul, 5 2012 @ 08:42 AM
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You know what's crazy about this financial mess.

In the end, Berny Madoff was just a scapegoat.



posted on Jul, 5 2012 @ 08:42 AM
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Originally posted by detachedindividual
Not available outside the US.

Just thought I'd let you know.


not available out side US, will some one who can watch it please give those who want to watch it and can't, a basic synopsis please.

(grambler thanks for making the effort to post a synopsis
edit on 5-7-2012 by The X because: (no reason given)



posted on Jul, 5 2012 @ 08:49 AM
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This is huge... it's almost too hard to fathom the scale of this thing..



posted on Jul, 5 2012 @ 08:57 AM
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OK, so now it's in the mainstream, but does this surprise ANYBODY???



posted on Jul, 5 2012 @ 08:58 AM
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Originally posted by The X


not available out side US, will some one who can watch it please give those who want to watch it and can't, a basic synopsis please.


Basically they are saying that Barclays admiting that they fudged the LIBOR numbers is the biggest financial scandal in the history of the world. They explain that LIBOR is the rate that banks lend to each other, and that the top 16 banks all contact each other every morning to give there numbers.

They then explain that this is basically the bedrock for the whole financial system, and that trillions of dollars would have been affected, basically all financial institutions. They also explain how it would have taken much more than one of these banks to do this, and more than likely all 16 of these banks were involved.

They go onto to say the problem is the whole financial system is rotten to the core and that the to big to fail banks have been corrupt since the early 2000's.

Also they mention how the opposition in Britain is actually trying to hold peoples feet to the fire over this, but there is no difference in the partys in the good ole US, so no ones really paying attention in the US.

Thats the jist of it. Matt Taibbi in the video writes for the Rollingstone and is awesome. Heres a link to his blog where you can read up on whats going on.

www.rollingstone.com...



posted on Jul, 5 2012 @ 09:00 AM
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reply to post by The X
 


That's weird, because I'm in France and it's playing fine.
Here's Taibbi's synopsis:

Why is Nobody Freaking Out About the LIBOR Banking Scandal?

And other than a bunch of outrage and statements from Dennis Kelleher, that I already cited, that's pretty much it.



posted on Jul, 5 2012 @ 09:01 AM
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Am in the uk and it's saying restricted content on this vid now....

wonder why?...lol



posted on Jul, 5 2012 @ 09:04 AM
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Originally posted by truetrigger
Am in the uk and it's saying restricted content on this vid now....

wonder why?...lol


I think I have another we can view, if the OP can confirm that this is the same debate?




posted on Jul, 5 2012 @ 09:04 AM
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Originally posted by idealord
reply to post by The X
 


That's weird, because I'm in France and it's playing fine.

Yeah, here in Brazil, it plays just fine as well.

This thing is BIG man, the proof that we've all been waiting for might be at our doorstep.
This thread needs to get on the front page ASAP.



posted on Jul, 5 2012 @ 09:05 AM
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reply to post by detachedindividual
 


That's it! Thanks...



posted on Jul, 5 2012 @ 09:05 AM
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reply to post by idealord
 


Its strange that so many high level bankers have resigned of late and that there was a thread on here saying mass arrests in the banking sector would being very shortly.

I wonder if these "re-signers" knew what was coming and if indeed "leaking" this info is part of the plan to get away from a totally unsustainable monetary system?





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