or what it has done, and how it has manipulated ALL interest rates, around the world! Libor stands for London Interbank Offered Rate. It's so ridiculous, I don't know whether to laugh or cry.
Two days after I saw this same news floating in cyberspace, Shah Gilani also caught on it, and wrote the following article for moneymorning.com, one of the main websites in the Finance
From my understanding is the bank sets the lending rate that we borrow at while they pay a lower rate. Another way to lower or raise our rates to make money. If that is wrong I would love to know also.
Between 2005 and 2008, the Barclays staff who submitted estimates of their own interbank lending rates were frequently lobbied by its derivatives traders to put in figures which would benefit their trading positions, in order to produce a profit for the bank.
And between 2007 and 2009, during the height of the banking crisis, the staff put in artificially low figures, to avoid the suspicion that Barclays was under financial stress and thus having to borrow at noticeably higher rates than its competitors.
What is wrong here, is what is, and has been wrong, ever since banking and trading has been done with a click of a button (since late 1980's)! Intentional manipulation of money markets! Not to benefit the 99%, only the banks, and why the whole world is in financial crises right now. Just like during the Nasdaq "tech bubble" when people invested in dreams (ie dot com companies that simply didn't even exist), or more recently, the sub-mortgage loans which collapsed the economy.
Now we are finally getting to the root of the problem. The banks themselves. Nothing is too big to fall, only too big to oversee. Unless you are a crooked banker or business person, I would be elated by these news trickling out day after day
if anyone thought "derivatives" was a tough concept to wrap your brain around it, don't worry, neither can many "professional" people in finance...(ah, they may have done some homework by now)!
however, this "liborgate", as they now call it in england, is fairly easy: it was set up to STEAL and CHEAT by artificial manipulation of interest rates with a click of electronic buttons. Created from thin air, only to the benefit of no one else, but the banks/banskters/cabal!! in layman's terms;
a world wide financial scam
Libor and Barclays are ONLY a tip of the iceberg, considering what will follow.
but for all desperately waiting disclosure and "mass arrests", IT IS HAPPENING RIGHT NOW!
I'll attach this link here, read it, research it, and come up with your own conclusions. we Lightbearers shed the Light and share knowledge, the rest is up to every individual what they do with it.
another clip of interest to all who are wondering what has been going on with the disclosure: http://www.youtube.com/watch?v=eL5hqvTWkYg
it is a speech by gracious whistleblower Lord Blackheath, in Feb 2012, speaking to empty rowes of "lords" of parliament, regarding a $15 trillion fraud, naming HSBC, Geitner and federal bank (last two,the biggest crooks in my opinion!) et al
It is, and has been happening, now, people! baby steps, in a world of 7 billion. mass arrests are happening now, maybe not covered in mm yet, but we have been living in a sinister Net of lies, manipulation of financial markets, brainwashing our own thought processes, controlled by the cabal, to the point, it is hard to get accustomed to using our own brains and resources again. wake up,look around, ask questions, exchange ideas and thoughts, do not waste another moment watching tv!
It all has to start from dismantling the financial system beacause every single being on this earth can related to the printed paper, called money
Libor scandal spelled out in the msm. Goodbye to the banking cabal:
you can skip to 2min mark. this is major media: