Sunday , 9 December 2018


Tag Archives: London Interbank Offered Rate

The "LIE-BOR" $candal Explained

The LIBOR scandal is, in effect, "the world's biggest banks stealing money that would otherwise have gone toward textbooks and medicine and housing for ordinary Americans, and turning the cash into sports cars and bonuses for the already rich. It's the equivalent of robbing a charity or a church fund to pay for lap dances."

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The “LIE-BOR” $candal Explained

The LIBOR scandal is, in effect, "the world's biggest banks stealing money that would otherwise have gone toward textbooks and medicine and housing for ordinary Americans, and turning the cash into sports cars and bonuses for the already rich. It's the equivalent of robbing a charity or a church fund to pay for lap dances."

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LI(e)BOR: All You Need to Know – and Why You Should Care

The very nature of the ques­tion used to solicit rates from the contributing banks to establish the LIBOR (London Interbank Offered Rate), tells you all you need to know. The banks are asked, in effect, “At what rate could you bor­row funds, were you to do so by ask­ing for and then accept­ing inter-bank offers in a rea­son­able mar­ket size just prior to 11 am?” The bank is sup­posed to sub­mit a rate where they think they could bor­row, not where they actu­ally bor­rowed, or where they would lend to other con­trib­u­tors...and, as such, LIBOR has always had an ele­ment of “games­man­ship” if not out­right lying. [Here's what you should know about what LIBOR is, how it is established and why you should really care.] Words: 1100

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Derivatives: Their Origin, Evolvement and Eventual Corruption (Got Gold!)

The term “derivative” has become a dirty, if not evil word. So much of what ails our global financial system has been laid-at-the-feet of this misunderstood, mischaracterized term – derivatives. The purpose of this paper is to outline the origin, growth and ultimately the corruption of the derivatives market – and explain how something originally designed to provide economic utility has morphed into a tool of abusive, manipulative economic tyranny. Words: 3355

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