Such a prescient, beautiful sentiment.

Monday, 2 July 2012

Why Now?

LIBOR Scandal Is Not A New Story!

2011 may seem far away. However the manipulation of inter-bank lending "clubs" by politicians had to be on the cards the day Snotty became Chancellor. Cheap money buys, or indeed bought, cheap votes. His "No more boom and bust" was said in the belief his ability to pressure banks to hide their scams and ponzi schemes meant he was "the saviour of the world"!

Naturally his fellow travellers of the Mandarin class loved his duplicitous and plotting obsessiveness and used it to further their own EU agenda. That these crooks seduced the bankers into following their lead in manipulating interest rates meant the banksters felt bullet proof.

This whole scam underwrote Snotty's bank bail out mechanism, wherein the real state of the banks'barren  equity coffers could be hidden and tax payers income used to fill the massive holes caused by their explosive, casino gambling habits.  Naturally all this could not go on without a similar useage agreed by The EU crooks. As we see from the link, their tiny excursion to visit suspected fraudsters disappeared tout suite! No doubt once the Snotty method of controlling money supply had been adopted back in 2007 it was not sensible, from the political classes viewpoint, to look to hard at the deep corruption going on. Let's be sure about this. The financial collapse has come about due to trillions of dollars, euros and pounds being drained away from the system via fraud and money laundering. Senior political and banking figures have conspired to hide their culpability always believing another fool would turn up to be sold bonds and "goodies", which in reality were worthless. Ask the Greek people.  Huge sums of money were diverted to further the EU expansionism in the belief this would keep the plates spinning. It did until Greece ran out of money. Suddenly the false promises of cheap money and low interest repayments was exposed as fraudulent manipulation.  The Boy, as wet behind the ears as Bliar, was told this low interest environment was the way to go. The UK could fund its ever increasing borrowing and debt liabilities via low interest bond issuances. Now since The LIBOR was and remains no longer a true indicator of banks' underlying asset strength, we are really up the creek. However, the euro situation becomes even worse when we consider that 44 institutions, rather than the LIBOR 15, are involved.  It is suggested the number of members in EURIBOR makes it less liable to this manipulation, forgetting we have a much larger number of Snotty afficiendos on board, together with the crooks in The EU Commissioners' offices. If it happened in London it sure as hell did and is happening in Brussels. One wonders how much those hidden actions have influenced Merkel's climb down. Of course to attack The City to deflect attention away from the euro and Brussels debacle is welcome to those empty of decency and honesty. All this of course has yet to mention The USA. Now LIBOR rates, if I'm correct, are based on dollar exchange rates, EURIBOR  euro. Now which would you say is the best bet? Which is more likely to withstand the unfolding scandal of manipulation? How many EURIBOR promissory bets are desperate to switch out of their currency and have secretly done so? Is all this merry-go-round why the World's economy is so shot? Where has all the genuine wealth gone? I suspect mostly to drug barons and the people who have been able to be part of the whole nastiness. Berlusconi might be a good example. For sure there will be a huge number of politicians in some way or other happy to entertain the Oligarchs and their ilk and stoop to their level. One wonders where the likes of Mandleson and The Kinnocks get their obscene wealth. What a mess and not a politician in sight with a jot of honest decency.

Here, from 2007 is a nice example of Snotty's public utterances hiding his actual behaviour!

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