The LIBOR Scandal Is a Sham Engineered by Central Banking Elites?

The Biggest Banking Scam Ever ... British bank Barclays (LSE: BARC.L - news) is dead centre of a storm involving the manipulation of inter-bank lending rates, particularly Libor (the London Inter Bank Offered Rate). What is truly breath-taking is the sheer scale of this fraud. According to one estimate, around $350 trillion (£223 trillion) of lending and derivatives is priced off Libor. That's enough to pay for the whole of UK Government spending for around three centuries at current levels. Thus, if misconduct by banks caused Libor to increase by a mere one tenth of one basis point (0.001%), this amounts to $35 billion (£22 billion) a year in extra interest – that's roughly the UK's annual budget for transport and close to as much as council tax brought in last year. One official claims that 20 other banks helped to rig interest rates and that Barclays is poised to 'blow the whistle' on wrongdoing at its co-conspirators. It's also likely that criminal charges could be brought against the ringleaders of this worldwide fraud. – YahooFinanceUK

Dominant Social Theme: The sky is falling and we need to regulate the banks.

Free-Market Analysis: We've written two articles about the LIBOR scandal and yet we haven't had a bit of impact! How surprising is that?

Well ... not very surprising. Nor are we surprised. The Internet Reformation is not based on individual revelations. It is a process not an episode. It is an accretion of misaligned facts, a gradual buildup of cognitive dissonance that is engendered by the free flow of information on the web.

So we will wait ... and see.

Even ten years ago the power elite that runs central banking around the world could have gotten away with this massive fraud. But over time the alternative media will chip away at the nonsensical accusations swirling around the banks that create LIBOR.

People, already thinking for themselves (and more and more will), will see in this great, orchestrated showpiece that they are being tricked. A kind of malign "bait and switch is going on."

You can see our previous articles here:

Barclays LIBOR Corruption a Phony Ploy to Strengthen the Bloomberg/Qatar QIBOR?

Barclays Scandal Worse and Worse ... Whatever it is!

Financial Crime Must Be Punished!

The article we have listed last is of special import because the subject was a poll that asked people whether bankers should be prosecuted for "crimes" and came out just as the LIBOR "scandal" was breaking.

Now, some may find this to be a beneficial coincidence but we will say with considerable certitude: This Is All a Big Scam.

We're seeing the formulation of a full-blown dominant social theme before our aching eyes. It doesn't make any sense otherwise. It's all just promotional propaganda.

The idea is that top British banks conspired together to "rig" the price of LIBOR. But the entire financial industry is rigged from beginning to end, starting with the price and volume of money.

Central banking is the predominant theme of the monetary world – of the global economy, actually. All around the world, small groups of men under the supervision of the BIS meet regularly to determine (or "fix") the price and volume of money.

Yet we are to believe that the paltry price shaving performed by LIBOR banks is an expression of ultimate criminality while central bank price-fixing on a day-to-day and sometimes hour-to-hour basis is beneficial?

The larger central banks screwed interest rates into the ground after the 2008 financial deflation. And it has come out that the Bank of England encouraged Barclays (and presumably other banks) to keep rates down.

The LIBOR system of determining rates is itself subjective and determined by a group of banking insiders. To believe that LIBOR has not been manipulated throughout its lifecycle is to believe in fairy tales.

Why does the world need a predetermined interest rate anyway?

Why can't banks simply charge what they choose to charge? They used to.

What is wrong with competition? Or regional interest rates?

Well ... according to John D. Rockefeller, "competition is a sin."

And for the people at the top of the economic pyramid, it certainly is. The world is run by this criminal cartel and, as we have long observed, they have no compunction about sacrificing their own.

If there is a less grim side to what is going on, it has to be in the crumbling certitude of top industry bankers that they are not Masters of the Universe after all. They are actually pawns of a sort that are about to be sacrificed on the Great Chessboard of world power.

An apparent handful of dynastic families run things at this point in time, though the Internet Reformation is chipping away at their power, which is based on secrecy and which has been thoroughly exposed in the past decade.

They use dominant social themes to frighten Western middle classes into giving up power and wealth to specially prepared globalist institutions. These are fear-based promotions and one of the biggest ones is that the financial industry is the enemy and that only regulatory authority can cure the problem.

Of course, what is never noted is that certain institutions and individuals are above the law. These top entities secretly pull the levers of government for their own purposes and benefits. The process is called mercantilism.

A Bank for International Settlements (BIS) messenger can travel all around the world without a visa and without being searched. Detaining a BIS official is recognized as a crime the world over. Some people and groups are above the law.

But not banking executives. As we've pointed out numerous times, they are mere clerics in the scheme of things. Like politicians, generals, top scientists, etc., they are gofers for those who control the hundreds of trillions that pour off central bank printing presses every day.

Now these top controllers, threatened by the Internet, have embarked on a final push to subdue the financial industry and bring it totally under their control. They are evidently and obviously planning neo-Pecora hearings and this is the reason to orchestrate this latest "scandal."

We've predicted the hearings. We even believe we know who is going to run them. You can see some of the articles here:

Wall Street's Darkest Hour, Then and Now?