View RSS Feed


LIBOR "trainwreck"

Rate this Entry
There was a guy (Greg Hunter: on our radio show last night talking about this.

Both he Ellen Brown (author of the article I linked to) say that the big banks are going to get "whacked" by RICO lawsuits from states, municipalities, and class action individuals across the U.S.

RICO statutes allow victims to recover triple damages.

Hunter said, and I agree, that when the LIBOR scandal broke, the U.S. MSM barely indicated that it was news - he indicated that the big banks strongly influence what the MSM emphasizes or de-emphasizes.

I have zero curiosity about banks and finance.

I am certain there is nothing deep involved - just infinite layers of tedious linguistic and legal indirection, in order to make theft as easy as possible (In my opinion, people who are fascinated by all of the arcane financial details, are probably not very smart, but are certainly very greedy - I see the same thing concerning most people with deep interest in the Law.).

But, I do fear and become enraged about the merciless austerity measures that bankers will try to get politicians to impose upon the 99% of people who were not involved in any way, in order to pay for these same bankers' crimes.

And, I do fear and become enraged about the currency being intentionally inflated in order to pay bank lawsuits.

I think that the entire financial system is a total fraud - the Federal Reserve, a group of PRIVATE banks, does whatever it wants, with no legal oversight.

According to Hunter, when judgments (or, do you prefer, "judgements"?) begin being awarded against the big banks as a result of the LIBOR rate fixing, the Federal Reserve will not let the big banks default.

He said that instead, the Federal Reserve will give those banks the money to pay the judgments.

The result will be that once again 99% of the people will end up paying - inflation will go "through the roof".

In other words, the Federal Reserve will give the big banks billions, or even trillions of dollars for free. And that money, is not more than paper. Basically, the plaintiffs will be paid with paper, that will be approximately worthless. But, every penny that an individual owes, will be tracked by the latest technological means, and a debt of just one cent will follow him forever - and the interest on the one cent will also have to be paid.

The entire financial/political system is a "cesspool", the paid-off politicians try to just ignore huge thefts - because, they are funded by the thieves.

Ellen Brown did offer one ray of hope, bank nationalizations - but can you imagine how much damage would have to be done before the politicians who receive the bank cash, would propose and agree to such a measure?

(Inflation doesn't matter if you can always stay ahead of it, right? For instance, if inflation increases by 1000%, that's good if your income simultaneously increases by 10000%, right? I think that's how the thieves do it. I bet many of them become "aroused", thinking about the 99% of the people whose incomes simultaneously increase by 0%.)

Submit "LIBOR "trainwreck"" to Facebook Submit "LIBOR "trainwreck"" to Digg Submit "LIBOR "trainwreck"" to Submit "LIBOR "trainwreck"" to StumbleUpon Submit "LIBOR "trainwreck"" to Google Submit "LIBOR "trainwreck"" to Twitter