Friday, July 13, 2012
The finance world knows; the jig is up and they need to trade in their worthless derivative backed assets for something real. This should keep the property bubble in New Zealand inflated, at the same time the government here is selling off any State Owned Asset they can. All this so Elites here can stuff their offshore bank accounts and Go Bags. For a backgrounder, check this out.
Posted by Takwira at 8:06 AM
Tuesday, July 10, 2012
The World As It Is: Dispatches on the Myth of Human Progress A collection of Truthdig Columns by Chris Hedges Keep up with Chris Hedges’ latest columns, interviews, tour dates and more at www.truthdig.com/chris_hedges. http://www.truthdig.com/report/item/how_to_think_20120709/
Posted by Takwira at 10:02 AM
Thursday, July 05, 2012
The Barclays Bank Libor-fixing scandal currently being investigated in the UK is huge. Libor is the cost of inter-bank borrowing between the 18 largest banks in the world. Trillions are traded between banks every day. The rate is set by contacting the 18 largest banks in the world and asking them what they would charge a brother bank; the top and bottom four are thrown out and an average is derived from the middle 10. This forms the basis for all lending: because all profits, at each stage are derived from the Libor rate, published each day. For Barclays to fix the rate, there would have had to have been at least four other co-conspirators for any price they quote to move the rate. It was an increase in the Libor that brought down Lehman Brothers and Bear Stearns. This was the trigger for the 2007 - 2008 collapse. Stop reading about Tom and Katie, Wimbledon, or Higgs boson particle. This should get us off our asses and in the streets.
Posted by Takwira at 10:23 AM