Spiritual Forum

Everything is Rigged: The Biggest Financial Scandal Yet ...THE SCAM WALL STREET LEARNED FROM THE MAFIA

Posted by Krishna Kalki on April 30, 2013 at 9:41pm in Alternative Media, World Events & News
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.THE SCAM WALL STREET LEARNED FROM THE MAFIAFull Article @http://m.rollingstone.com/entry/view/id/37616/pn/all/p/0/?KSID=f3f8b1cc101567ecfd931ffe215d595e
Views: 11

You need to be a member of Ashtar Command - Spiritual Community to add comments!

Join Ashtar Command - Spiritual Community

Email me when people reply –
Follow

Latest Discussion

Most Popular Discussion

Topics by Tags

Monthly Archives

Latest Activity

John Jancar commented on Malcolm's blog post BASIC AND URANIAN ASTROLOGY ANALYSIS: the 1811 horoscope of Venezuela and the 2026 Delta Force operation that succeeded in capturing Nicholas Maduro (and his wife).
"This HEIST of Venezuela, can't go unpunished, and thankfully the Chinese and Russians have already made firm, they want Maduro released and that this act was against international law.

Just man, this MADMAN TRUMP HAS TO BE STOPPED lol If that even…"
54 seconds ago
John Jancar left a comment on Comment Wall
"The Draco ships, apparently, are like that lol Like when you see a Draco ship, you know it lol And I guess, well I'm not a frickin Draco, but we need better designs for our ships lol Our, I'm talking like an alien here."
6 minutes ago
John Jancar left a comment on Comment Wall
"Well the look is important too lol I want something that is gonna be like, whoa, when people see it lol A saucer seems underwhelming to me, but what do I know lol"
7 minutes ago
Drekx Omega left a comment on Comment Wall
"So you mean the aesthetics, rather than the function...? I would suggest that because the vector is not aerodynamic flight, an almost limitless freedom can be applied in designs....Some "look" good, others less so..depends on taste..
As for Chinese…"
9 minutes ago
John Jancar left a comment on Comment Wall
"I mean here is a design for a stealth fighter lol The Chinese made, now this looks badass lol Okay, this is something worthy of humanittyyyyy.

How the hell do I add images lol I been off this site so long, I forgot how to put images lol In any…"
12 minutes ago
John Jancar left a comment on Comment Wall
"I just think they can design something more appealing than a cigarette lol Okay, or cigar, ohh look at this cigar type craft. I mean it just seems bland.

In any case, I get it lol It's perfect almost, for space, and air, and underwater, I mean a…"
16 minutes ago
Drekx Omega left a comment on Comment Wall
"No John, the egg-shaped craft, as with other designs, do not requite aerodynamic principles to vector....They don't fly in the conventional sense...so the term vector is used here...

Currently, outer Earth's secret space program "Black Manta"…"
18 minutes ago
John Jancar commented on Malcolm's blog post BASIC AND URANIAN ASTROLOGY ANALYSIS: the 1811 horoscope of Venezuela and the 2026 Delta Force operation that succeeded in capturing Nicholas Maduro (and his wife).
"Does anyone really believe, this is about freedom and democracy, coming from the US government, that's a crock lol How many elections have they meddled in, how many. Their OWN elections aren't even real lol

Just ugh. And of course, the nitwits on…"
19 minutes ago
More…

New Blog Posts