Saturday, April 27, 2013

Did they just apologize to us?


John asked me to post this....


Everything Is Rigged: The Biggest Price-Fixing Scandal Ever

Illustration by Victor Juhasz

April 25, 2013 1:00 PM ET

Conspiracy theorists of the world, believers in the hidden hands of the Rothschilds and the Masons and the Illuminati, we skeptics owe you an apology. You were right. The players may be a little different, but your basic premise is correct: The world is a rigged game. We found this out in recent months, when a series of related corruption stories spilled out of the financial sector, suggesting the world's largest banks may be fixing the prices of, well, just about everything.

You may have heard of the Libor scandal, in which at least three – and perhaps as many as 16 – of the name-brand too-big-to-fail banks have been manipulating global interest rates, in the process messing around with the prices of upward of $500 trillion (that's trillion, with a "t") worth of financial instruments. When that sprawling con burst into public view last year, it was easily the biggest financial scandal in history – MIT professor Andrew Lo even said it "dwarfs by orders of magnitude any financial scam in the history of markets."

That was bad enough, but now Libor may have a twin brother. Word has leaked out that the London-based firm ICAP, the world's largest broker of interest-rate swaps, is being investigated by American authorities for behavior that sounds eerily reminiscent of the Libor mess. Regulators are looking into whether or not a small group of brokers at ICAP may have worked with up to 15 of the world's largest banks to manipulate ISDAfix, a benchmark number used around the world to calculate the prices of interest-rate swaps.

Interest-rate swaps are a tool used by big cities, major corporations and sovereign governments to manage their debt, and the scale of their use is almost unimaginably massive. It's about a $379 trillion market, meaning that any manipulation would affect a pile of assets about 100 times the size of the United States federal budget.

It should surprise no one that among the players implicated in this scheme to fix the prices of interest-rate swaps are the same megabanks – including Barclays, UBS, Bank of America, JPMorgan Chase and the Royal Bank of Scotland – that serve on the Libor panel that sets global interest rates. In fact, in recent years many of these banks have already paid multimillion-dollar settlements for anti-competitive manipulation of one form or another (in addition to Libor, some were caught up in an anti-competitive scheme, detailed in Rolling Stone last year, to rig municipal-debt service auctions). Though the jumble of financial acronyms sounds like gibberish to the layperson, the fact that there may now be price-fixing scandals involving both Libor and ISDAfix suggests a single, giant mushrooming conspiracy of collusion and price-fixing hovering under the ostensibly competitive veneer of Wall Street culture.


Why? Because Libor already affects the prices of interest-rate swaps, making this a manipulation-on-manipulation situation. If the allegations prove to be right, that will mean that swap customers have been paying for two different layers of price-fixing corruption. If you can imagine paying 20 bucks for a crappy PB&J because some evil cabal of agribusiness companies colluded to fix the prices of both peanuts and peanut butter, you come close to grasping the lunacy of financial markets where both interest rates and interest-rate swaps are being manipulated at the same time, often by the same banks.

"It's a double conspiracy," says an amazed Michael Greenberger, a former director of the trading and markets division at the Commodity Futures Trading Commission and now a professor at the University of Maryland. "It's the height of criminality."

The bad news didn't stop with swaps and interest rates. In March, it also came out that two regulators – the CFTC here in the U.S. and the Madrid-based International Organization of Securities Commissions – were spurred by the Libor revelations to investigate the possibility of collusive manipulation of gold and silver prices. "Given the clubby manipulation efforts we saw in Libor benchmarks, I assume other benchmarks – many other benchmarks – are legit areas of inquiry," CFTC Commissioner Bart Chilton said.

But the biggest shock came out of a federal courtroom at the end of March – though if you follow these matters closely, it may not have been so shocking at all – when a landmark class-action civil lawsuit against the banks for Libor-related offenses was dismissed. In that case, a federal judge accepted the banker-defendants' incredible argument: If cities and towns and other investors lost money because of Libor manipulation, that was their own fault for ever thinking the banks were competing in the first place.

"A farce," was one antitrust lawyer's response to the eyebrow-raising dismissal.
"Incredible," says Sylvia Sokol, an attorney for Constantine Cannon, a firm that specializes in antitrust cases.

All of these stories collectively pointed to the same thing: These banks, which already possess enormous power just by virtue of their financial holdings – in the United States, the top six banks, many of them the same names you see on the Libor and ISDAfix panels, own assets equivalent to 60 percent of the nation's GDP – are beginning to realize the awesome possibilities for increased profit and political might that would come with colluding instead of competing. Moreover, it's increasingly clear that both the criminal justice system and the civil courts may be impotent to stop them, even when they do get caught working together to game the system.

If true, that would leave us living in an era of undisguised, real-world conspiracy, in which the prices of currencies, commodities like gold and silver, even interest rates and the value of money itself, can be and may already have been dictated from above. And those who are doing it can get away with it. Forget the Illuminati – this is the real thing, and it's no secret. You can stare right at it, anytime you want.

48 comments:

  1. No they didn't just apologize. Rather, as I posted with the link to this article a few days ago, it must be that the hippies are the only ones left with the balls(and access to MSM and the sheeple)to get the story to stick. Whether or not any other outlet picks it up and runs with it(forget the State owned BBC) is another thing.

    Full article is by Matt Taibbi in Rolling Stone.

    ReplyDelete
    Replies
    1. Thxs CB, I read it when it was posted. I just forgot who had turned me onto it. What the article exposes is so overwhelming that I still fail to grasp the enormous swindle that continues unabated to this day.

      Delete
  2. Well this price fixing is far from the only thing that is rigged.
    EVERYTHING is rigged against us the people. I can't name one thing that is not rigged, maybe even the price of girl scout cookies.
    Just look at your phone bill or your cable bill or electric bill.
    Look at all the various charges, even charging you for being a customer. You pay your telephone service, but then they charge you an 'access' fee?? How can they expect you to order up a telephone, and not include access to it?
    Just sayin'

    ReplyDelete
  3. Geno's got a really good "sniffer".

    I just logged on after the Blackhawks lost tonight. I usually check ever place else I ususally go, and just before I came here, I was at John MacHaffie's site. THIS article geno has here is the one that caught my eye as the most important one of the day, and it was buried back on page 4 already, over there. I come here, and Geno put this up about 11 hours ago, already!!

    GREAT "sniffer"!!

    Manipulating a $500 Trillion market? NOBODY really adresses, nor speculates where this money goes, yet most importantly WHAT it is used for.

    My NUMBER ONE suspect:
    Chemtrail Poison-Spewing Planes-Of-Death Program!!

    ~darylluke.

    ReplyDelete
  4. OOOps!!!

    When I wrote the above, I had missed Geno's first line at the top of the post.This came from John.

    John,

    So it takes US investigators to uncover something going on on your soil and no authorities there did anything about it, if they knew about it? I thought you told us banking there was all cleaned up? Or, will the lords there read this and act like they were unaware and take it under consideration, only to bury it & it(investigations/arrests) never sees the light of day?

    Come over and buy Geno a cold beer and hash it all out already, okay? Maybe he can help you figure out whose side you are really on, too. Stranger things have happened!!

    ~darylluke.

    ReplyDelete
    Replies
    1. It came from me to help alert all parties. Monday this will hit our Lords systems. It won't be buried for sure. If you ever watch how we rip into our Bankers at Parliamentary Commissions, you will see the difference. Here, there are no such secrets. The Board of RBS are now being sued as individuals for $6B for negligence by the Shareholders. Diamond at Barclay's was forced out. Many have been fired.
      You read it because I provided it. How unaware is that?
      We cross check on each other. Then- we act.
      Have you ever seen a Bulldog let go without taking your leg with it? Be assured, it's in play.

      Delete
    2. The ONLY side I am on is humanities. I am Politically indifferent to most of the Shysters as per Bankers also. Either side of the pond will be questioned and challenged.
      It's about Right, or Wrong, not sides. Exposing corruption.

      Delete
  5. Btw....John?

    SCREW your singularity-crap!! I looked into it and it is pure evil, dude. PURE EVIL!!

    ~darylluke.

    ReplyDelete
    Replies
    1. darylluke
      Singularity is coming. Agreed, how we control it is key. Neither you, nor I, can or will stop progress. Used wisely, it opens our development as a species 1,000 fold. Used badly, agreed, we create a monster spawn. No one can ignore that fact now, that if we do not develop it, others will and are doing so right now. Your own Agencies have full programs committed to it. As do ours. But so does China and Russia. Over a decade has passed since we started. We have made huge progress. Non of us can lose ground, the stakes are too great. Such colossal technology applied for good, can do such good. But agreed, applied for control, opens huge issues. However, faced with the reality, it's well forward in China, and the US, do we do nothing? Truth is, it's coming. Nothing will stop it. It IS the next evolution of our species.

      Delete
    2. John,
      Thanks for not contributing anything lately, it suits our present needs. ;)

      Delete
    3. Vernor Vinge makes your case when he states that if the technological Singularity can happen, it will. Even if all the governments of the world were to understand the "threat" and be in deadly fear of it, progress toward the goal would continue. In fiction, there have been stories of laws passed forbidding the construction of "a machine in the likeness of the human mind". In fact, the competitive advantage; economic, military, even artistic; of every advance in automation is so compelling that passing laws, or having customs, that forbid such things merely assures that someone else will get them first.

      It's normal to fear the unknown, but the more I know of the singularity, the more I fear, and for those unforgiven and the ones who will go screaming.


      Do not go gentle into that good night,
      Old age should burn and rave at close of day;
      Rage, rage against the dying of the light.

      Though wise men at their end know dark is right,
      Because their words had forked no lightning they
      Do not go gentle into that good night.

      Good men, the last wave by, crying how bright
      Their frail deeds might have danced in a green bay,
      Rage, rage against the dying of the light.

      Wild men who caught and sang the sun in flight,
      And learn, too late, they grieved it on its way,
      Do not go gentle into that good night.

      Grave men, near death, who see with blinding sight
      Blind eyes could blaze like meteors and be gay,
      Rage, rage against the dying of the light.

      And you, my father, there on that sad height,
      Curse, bless, me now with your fierce tears, I pray.
      Do not go gentle into that good night.
      Rage, rage against the dying of the light.

      --Dylan Thomas

      Delete
    4. darylluke,
      He is your singularity at its best. Sent to me via email this morning.

      PETMAN: The DARPA Robot That Looks Human
      Posted: 27 Apr 2013 04:00 PM PDT
      DARPA Robot Looks Human Petman Tests Camo Clothing for Chemical Protection Watch for a few seconds. Imagine this guy knocking at your door to conduct a police manhunt for a suspected...

      Delete
    5. http://dailybail.com/home/petman-the-darpa-robot-that-looks-human.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+TheDailyBail+%28The+Daily+Bail%29

      Delete
  6. The nearer your destination the more you're slip sliding away...

    The COMEX default and economic collapse nears as 99% of ALL gold sales in the last 3 months was thanks to primary broker and agent of the FEDERAL RESERVE, JP Morgan. You can't make this stuff up - it can ONLY happen when and if the collapse is at hand.

    http://www.youtube.com/watch?v=SYhZ3FAgyc4&feature=em-uploademail

    ReplyDelete
    Replies
    1. Geno has been given an extra report on this to help you all see the extent of Metals duplicity and Global scamming hidden inside Canada as yet another US controlled operation.

      Delete
    2. From John:


      From Richard Russell, April 25th
      The US is now borrowing money to pay for the interest on our national debt. The US now borrows roughly 46 cents for every FRN that it spends. We’ve finally come to the point where our foreign creditors no longer want to lend money to the US to cover our outrageous debts. What’s next? The Federal Reserve is now buying the US’s bonds. How does the Fed pay for the bonds? The Federal Reserve pays for the bonds with money that it CREATES out of thin air. This process is systematically shrinking the purchasing power of their "FRN." And worse, the world is fully aware of it. Almost every nation is now moving to protect itself against the shrinking purchasing power of the FRNs in their reserves. So far, Americans seem totally unaware of what is happening to the FRN. The government is lying about inflation in our lives. Yet we see inflation in our energy and gas bills, in the price we pay for food at the supermarkets, in the cost of imported goods, in our medical bills, in college tuition, and in almost everything else.
      The real danger in all this is that the move away from FRNs is accelerating. At some point in the weeks or months ahead, the "escape from the FRN" will break out into the open. At that time interest rates will suddenly and automatically rise, as their FRN is forced to defend itself (higher rates render their FRN more attractive to our creditors). When rates start to rise, the bond market will begin to crumble. The exact timing of all this is impossible to predict. But that doesn’t matter — the implications of a bond crash are so ominous that they transcend precise timing. The time to prepare for safety is now.
      Ultimate safety lies in actual gold in your possession. If the US government really cared about its people, it would now (like China) be urging Americans to accumulate gold for their protection. Instead, Uncle Scam insists that gold is not money, and worse — does its best to hold the price of gold down for others to accumulate.
      The physical gold and silver market continues with high demand.

      Delete
    3. OK crushing the USD the Soros plan the same one he played on Malaysia and the Pound Sterling. For him this is sport and game. Soros plan has been public for more than 6 years.

      He is just a grown-up enriched punk turned mass murder who started by profits taking jewelry and valuables from people he jailed and killed in my book is 5x worthy of the grave 6 decades ago.


      Delete
    4. There are those who think he is just another toupee wearing member of the inner family of actors playing the part of SORROWS... a figure head... a target... a decoy....

      No time to research the claim right now but consider it.

      Delete
    5. Hugh,
      I love Shawn at SGTreports...

      Also, another great place to go and get a good overview of what is happenings is his site The Liberty Mill: http://thelibertymill.com/
      Just scroll down to the bottom of the page and you have access to the latest from many of the key sites providing up-to-date information on our financial systems and their lack of accountability.

      Get Real.

      Delete
    6. Another good site is Peak Prosperity... http://www.peakprosperity.com/

      They have Crash Course: http://www.peakprosperity.com/crashcourse

      The Crash Course seeks to provide you with a baseline understanding of the economy so that you can better appreciate the risks that we all face.

      Get Real

      Delete
  7. Welcome home John...?

    http://www.zengardner.com/act-of-terror-the-british-police-state/

    ReplyDelete
  8. "We are witnessing the physical detachment from the perceived reality, and soon the denial party will end. We have already seen the physical run on guns and ammo that has been relentless for months. We are now witnessing that same panic buying in precious metals. The final two real markets will be in energy and food, and in that order. When that happens, you will see why Thomas Hobbes said, “No arts; no letters; no society; and which is worst of all, continual fear, and danger of violent death: and the life of man, solitary, poor, nasty, brutish and short.”

    Would anyone care to establish the odds of a RV occurring prior to the total destruction of the dollar thereby rendering the RV irrelevant? It seems to me that even if a RV does happen prior, there will be scant time available to either stock up on survival goods or to get out of the country if that's your plan of action.

    ReplyDelete
  9. If you think proving to captcha that you're not a robot in order to post is hard now just wait until the "singularity" occurs and we're living in a world full of transhumanists trying to convince the blog gatekeepers we're really human afterall and not some automaton trolls.

    What a hoot 'n' nanny state of affairs that's gonna be...

    ReplyDelete
    Replies
    1. Read up on the Cybernetic Manifesto.
      That lays it all out for you. The long and end game. Managed immortality. A whole new consciousness. Won't that confuse the Ragheads and Pulpit bashers.
      Education will help each nation evolve. Well, until they try with Jr again.

      Delete
    2. @John,
      Are you saying the Cybernetic Manifesto will be the new paradigm for the masses in our approach toward any and everything?

      It comes across very NewAge in presentation....

      Delete
    3. Its not what I seek or suggest, Just what IS in serious play right now.
      But, there are huge advantages - IF handled correctly. Our best Scientists,Teachers, Mathematicians,Doctors, Engineers, etc who only reach full awareness by mid 50's to 60's are lost due to aging diseases. Cells degenerate. Correct that, we can regress aging, extend lives by hundreds, then in time thousands of years. Of course there are side issues, but huge gains if our best minds are applied on developing new frontiers with all the applied knowledge and experience. Wisdom comes with age. We can correct so many genetic faults our " Mythical" Creator goofed up on.
      Views of the ignorant are simply being ignored as science races on.
      Imagine being able to fit a simple chip containing multi languages, your own global Sat Nav etc. Huge gains.
      Replacement limbs and organs. Why lose loved ones needlessly? There are up sides. Of course there are side issues, but progress will not be stopped. It IS coming.

      Delete
    4. all a result of experimentation on people and animals in sickening Frankenstein measure deep below the Earth because old white men didn't want to die....

      Delete
    5. Your right to die is a free choice. Who has the right to stop real progress. Pioneering Doctors can save vast numbers of lives by keeping them safe from aging diseases. Of course there are vast issues, but gains also. Try living with a child with a genetic illness , then tell me it's not right to do all possible to cure it by better sciences. In time, we can even create a device to help you beat the casino machines and get your money back. Seriously Geno, if we can save sick children, help replace faulty Genes, the omnipotent God F up with big time,its a fair challenge and right for others to chose to save their loved ones. I do Hospital cover and know just what a screw up the DNA helix is. We can and must improve it. Let ignorance die, not humanity. Lets step beyond the Dark Ages and let our species step into the light. Death is a choice, so why not life? Why lose so many talented and able people needlessly. Think of the real potential also. Death is such a waste of valuable lives. At least, with an option, we can explore alternatives. We won't stop it so lets try to guide it.

      Delete
    6. Oh Bullcrap.... Most of the diseases are induced by your insane vaccines and you experiment on generations of children.... I return to the truth....

      Don't bullshit a bullshitter....

      From the Eugenics nuts we get another 100 years of FrankensteinMindFuckers....

      Clean water, organic food and stop chemtrailing us....

      This is a no bullcrap zone....

      I have decided not to post the cybernetic Luciferian Rationalization....

      Delete
    7. Post it...we can decide ourselves

      Delete
    8. Do you snap at a restaurant owner to "seat you!" If you did they would seat you in the parking lot.

      The link was provided yesterday.

      However, I posted it anyway.

      I don't have to do this. You can start a blog and run it the way you choose. I don't get a salary and the only thing I care about is taking on liars... And the declarations of saving children is the biggest lie they tell perpetually while killing children.... not to mention selling them into sex slavery.

      Delete
    9. We are on the same page for mutual abhorrence of liars & scammers at least. The hardest part is finding them out. I sure as hell would not personally support anything involving child sacrifice & sex slavery... proponents of that ilk deserve to die a slow and painful death.

      Delete
  10. This Singularity crap is just that. It is a mere Plan of wicked mankind, but it will never be permitted to come to this 'transhuman' day dream. Trying to replace God.
    Notice too that John tried to sell us on the 'good parts' and left out the nightmare part? But today he begins to acknowledge it.
    Well I say keep it all. one on one conversations would become totally useless and meaningless.
    Nauseating.

    ReplyDelete
    Replies
    1. Coming soon...(tomorrow) The Computer loves you manifesto... It was programmed for your sins.

      No, not printing because I like it.... just awareness.... hate that word more and more.

      Delete
    2. One of the reasons I approach the notion of singularity with caution and a degree of fear and trepidation, with the understanding that I've only been introduced to it recently and therefore have not studied it at any length, there are many things that seem askew, out of the natural order of things.

      For example, it's easy to imagine a superhuman intellect with the ability to write an epic poem or even compose a classic concerto for the ages. Creating art on par with natural, "gifted" human beings is only one half of the equation. Who will be there on the other side with the inherent sensitivity to truly appreciate it's own creations?

      Embarking on this transhumanist highway seems to imply that we are in a rush to get to our destination; forgetting momentarily in our haste for perfection that the end is often far less satisfying and immeasurably more gratifying when we instead pull over to the side of the road, taking stock of what is and just soaking in the nuances of life's incredible journey.

      At this point, I'd settle for 40 acres and a mule; a porch with a view, a comfy rocking chair and some good sipping whiskey...

      Delete
    3. Hugh - I totally agree. Pull off to the side of the road in the mountains, and look out over in the early morning and see the fog drifting; smell the fresh air, watch the sun come up over the tops. Feel the warm air, and drink a cup of good morning coffee out on the deck.
      Recall the old days at summer camp as a kid for a week with all your friends. The weiner roasts in early fall. The hayrides thru the country.

      Something these wonderful upcoming robotic 'people' will never know anything about, being so 'intellectualized they are void of enjoying the simple good life.' And they call this 'evolving into improvements' ...since theres something so messed up about the wonderment of morning mountain air and how to ENJOY life.
      I smell tyranny and control on the drawing board.

      Gee, arent we all just tickled to 'death' lol.

      Delete
  11. As for a dollar crash, its fiat anyhow.
    And surely they will have to come up with some other new dollar for use......unless, they decide to go to the demonic cashless

    ReplyDelete
    Replies
    1. I wrote an essay on fiat that I will post soon.... It's not the bad guy.... wouldn't it be just as bad to have dollars backed with gold that all belongs to (fill in the blank elitist family?)

      Have you watched the Money masters all the way through?

      It explains it.

      Corruption is the villain not system.... all systems are victimized....

      Fiat allows for a huge abundance of cabbage we can all wheel and deal in.... but a so called backed currency puts a finte value that lessens what is available....

      Granted fiat in the wrong hands as it was is hugely dangerous.... but the very people who bought everything up now want to cement power with the gold back system....

      It is imperative to understand the distinctions....

      I have watched the money masters probably 15 times and it is simply fantastic history lesson.... a way to be proud of the men who stood tall in our history....

      Delete
  12. Rumors for years that a United States Treasury note backed by gold/silver/commodities will replace the FRN. No longer: "Backed by the full faith & credit of the US Government" , but will be :"Backed by secured gold/silver/commodities". John was implying as much some time back.

    Another plan bandied about is have two FRN's.Those in country having "X" value, and out of country FRN's having "Y" value. Good luck with that one!! JFK had some sort of plan, and ACT enacted for this, which was one reason he was killed.Some say the primary reason.... Who knows?

    ~darylluke.

    ReplyDelete
    Replies
    1. There are new plans in place to issue Fed US Dollars again as $100 dollar notes in October to protect their hold on your throats,and because no other organization has the number of lying, cheating, parasitic Thieves and Fraudsters who will cover up the truth as blatantly as the Fed NY operation. So, while the Treasury will take greater control, the Fed show still goes on. There simply are not the Metals in store to underpin an Asset Backed Currency just on Metals. It needs vast Global Asset resources to share the load and give Global safety nets Daryll. Which means the Fed scam goes on! Americans still carry this parasite on their backs. Unfair and UNCONSTITUTIONAL! Go back the the Founders,this is EVERYTHING they fought and died to avoid. This is NOT the Lawful constitution.
      BRICS will hurt the petrodollar. But, the world needs to face up to a Global need now and chip in to support the real burden of a True Reserve Currency. America can no longer carry this cost alone, and fraudulent books are not the answer. The world also has to Put Up now.

      Delete
    2. So I am right.... Our controllers will RV without the GS.... they will continue the fiat dance and basically this is your way of breaking the news that RV is happening before GS?

      Delete
    3. No,GS is still imminent first. With it vast good we can do. Exactly as I have indicated to you. First we have to get it freed. Masonic Lodge games tried to stop release via Zurich leading today. So many Special Interests are at work interfering. It's a minefield of Diplomacy. Once the GS do free up, we can do so much good.Right now, its the Varmints stopping it for Self Interest. RV's are a huge and complex dynamic.Every cheating, thieving nation wants Forex Rate advantages. We now have a true World Issue agreeing a balanced rate level to restart our new economies. You, as a group, are seeing and debating real issues. The rest of the world is simply ignorant of the key realities. Treat the issues with the respect they deserve and your views can be heard. But please, do see the big picture and think it through. Real world?

      Delete
    4. "It's a minefield of Diplomacy."

      "Diplomacy is the art of saying "nice doggie" until you can find a rock". --Will Rogers

      Delete
  13. And the Artistic Taxicab driver reports from England:

    https://www.youtube.com/watch?feature=player_embedded&v=NHS53KAos8A

    ReplyDelete
    Replies
    1. I rather enjoyed that.... maybe I should feature it?

      Delete
  14. Milstar,

    I agree with geno, this vid was GREAT!! I loved it!! (Wish I could swear & cuss freely here!)

    "Zig effin' heil!!" Made all great point about LORD GREEN!!

    ~darylluke.

    ReplyDelete