Users Online Now:
Donate To GLP
Back to Forum
Back to Thread
REPLY TO THREAD
THE ECONOMY & YOU # (Daily Updated Videos & Articles)
Ms Sans Serif
In accordance with industry accepted best practices we ask that users limit their copy / paste of copyrighted material to the relevant portions of the article you wish to discuss and no more than 50% of the source material, provide a link back to the original article and provide your original comments / criticism in your post with the article.
[quote:RoXY:MV8xNTc4NDI2XzMyMDk4OTA3X0UwQzZBQUE=] [b]LIBOR: the 'mega-scandal of all mega-scandals' is upon us[/b] Madison Ruppert, Contributor Friday, July 6, 2012 Activist Post The London Interbank Offered Rate, or LIBOR, scandal is growing by the minute and is shaping up to be one of the largest, if not the single largest, financial scandals of all time. This has the potential to make the massive conflicts of interest at the Federal Reserve and the $16 trillion in “emergency loans” given out by the Federal Reserve look reasonable. For the uninitiated, as it were, the scandal centers on British financial institution Barclays, the former CEO of which testified yesterday before the British Parliament. Bob Diamond’s testimony on July 4, 2012 was almost painful. Diamond fell back on the incredibly tired excuses used by the criminals in the financial sector which were accurately summed up as “a long version of ‘It was awful, but don’t blame me.’” LIBOR is, to put it in a crudely simple fashion, is the fluctuating rate at which banks can borrow from each other. However, this isn’t just a rate which affects UK banks. Indeed, the LIBOR is used as an indicator for many of the world’s various fluctuating rates spanning a wide range of so-called “financial products.” This is because the LIBOR is used as a rough indication of the level of confidence between one bank and another, with high rates indicating a low level of confidence and uncertain financial stability. [b] CONTINUE: http://www.activistpost.com/2012/07/libor-mega-scandal-of-all-mega-scandals.html[/b] [/quote]
Economic Armageddon and You
Wondering about the American economy? This animated video explains inflation, stagflation, recession and more, all in 5 minutes.
NB: UPDATES AT LAST PAGE
Pictures (click to insert)
Big Round Smilies
Aliens and Space
Friendship & Love
Misc Small Smilies
View All Categories
Next Page >>
Disclaimer / Copyright Info
with questions or comments about this site.
"Godlike Productions" & "GLP" are registered trademarks of Zero Point Ltd. Godlike™
Website Design Copyright © 1999 - 2017 Godlikeproductions.com
Page generated in 0.004s (3 queries)