Titanic “too big to jail” Banks and LIBOR Iceberg

Titanic sinking by Willy Stöwer / Wikimedia

“The USFed, Bank of England, and Euro Central Bank are directly implicated, casting corrupt light on the central bank franchise system. (…) Leave aside the difficult questions as to why and how the LIBOR fraud was revealed, and why and how the crime was not shoved under the rug as usual, and what higher power is controlling and orchestrating the maneuvers. LIBOR and Barclays lie at the heart of the Western banking cartel and power structure, labeled corrupt to the core. The big banker brush fire has begun. It is raging…” Jim Willie (1)

“Since 1994, the mythical Strong Dollar Policy had necessitated a two prong strategy: that of keeping rates low because weak currencies are typified by high interest rates; and the price of gold must be suppressed as it stands as an historical alternative settlement currency – and they don’t want the alternative to appear “strong”. (…) Libor – or the London Inter-Bank Offered Rate – is one of the lynch pins in setting [rigging] global U.S. Dollar interest rates. (…) It has EVERYTHING to do with making the American Dollar look viable as the world’s reserve currency.” Rob Kirby (2)

“Does this mean that the US and UK financial systems can only be kept afloat by fraud that harms purchasers of interest rate swaps, which include municipalities advised by sellers of interest rate swaps, and those with saving accounts? The answer is yes… Paul Craig Roberts, Former U.S. Assistant Secretary of the Treasury for Economic Policy (3)

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Titanic Banks Hit LIBOR Iceberg: Will Lawsuits Sink the Ship?
Antitrust violations, wire fraud, bid-rigging, and price-fixing

by Ellen Brown
Global Research

At one time, calling the large multinational banks a “cartel” branded you as a conspiracy theorist.   Today the banking giants are being called that and worse, not just in the major media but in court documents intended to prove the allegations as facts.  Charges include racketeering (organized crime under the U.S. Racketeer Influenced and Corrupt Organizations Act or RICO), antitrust violations, wire fraud, bid-rigging, and price-fixing.  Damning charges have already been proven, and major damages and penalties assessed.  Conspiracy theory has become established fact.

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Ellen Brown: Why the US Senate won’t touch Jamie Dimon

Image: Fletcher6 / Wikimedia Commons *

“… financial analysts Jim Willie and Rob Kirby think it may be something far larger, deeper, and more ominous. They contend that the $3 billion-plus losses in London hedging transactions that were the subject of the hearing can be traced, not to European sovereign debt (as alleged), but to the record-low interest rates maintained on U.S. government bonds. (…) The low rates are maintained by interest rate swaps, called by Willie a “derivative tool which controls the bond market in a devious artificial manner.”

Ultra-low interest rates MUST be maintained to prevent the debt from overwhelming the government budget.  Near-zero rates also need to be maintained because even a moderate rise would cause multi-trillion dollar derivative losses for the banks (…)”
   Ellen Brown

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Ellen Brown: How Goldman Sachs captured Europe

Eagle In Flight by Jeff Ratcliff / FreeDigitalPhotos.net *

“Goldman Sachs and the financial technocrats have taken over the European ship.  Democracy has gone out the window, all in the name of keeping the central bank independent from the “abuses” of government.  Yet the government is the people—or it should be.  A democratically elected government represents the people.  Europeans are being hoodwinked into relinquishing their cherished democracy to a rogue band of financial pirates, and the rest of the world is not far behind.”  Ellen Brown

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Ellen Brown: Imposing austerity on Canadians could have been avoided

”Why are governments paying private financiers to generate credit they could be issuing themselves, interest-free?”

Between 1939 and 1974, the government actually did borrow from its own central bank.  That made its debt effectively interest-free, since the government owned the bank and got the benefit of the interest.”

The difference is simply that a publicly-owned bank returns the interest to the government and the community, while a privately-owned bank siphons the interest into its capital account, to be re-invested at further interest, progressively drawing money out of the productive economy.”     
Ellen Brown

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