LIBOR & MONEY LAUNDERING SCANDALS - INTERVIEW WITH DUKASCOPY TV

         

Please find below a link to an interview with Dukascopy TV and David SMITH

http://www.dukascopy.com/tv/#80893

I am very pleased that my message is reaching an ever wider audience

CORBETT REPORT RADIO INTERVIEW – LIBORGATE SCANDAL

CORBETT REPORT RADIO INTERVIEW – LIBORGATE SCANDAL

Please find attached a link to a radio interview between myself and James Corbett, founder and owner  of the Corbett Report

http://www.corbettreport.com/corbett-report-radio-172-liborgate-explained-with-david-smith/

The Corbett Report provides a weekly podcast as well as interviews, articles and videos about current events and suppressed history from an independent perspective.

LIEBORGATE - CORRUPTION - CONFLICTS OF INTEREST & CONSERVATIVE PARTY POLITICS

As a supplement to my Blog  LIEBORGATE COINCIDENCES please find an update from another blogger, The Slog who also has  a passion for the truth and transparency. Well done, you beat me to it.

In addition to the crooked banks who have reported Libor falsely, other UK based  "dramatis personae" in this global scam include the following:

"Michael Fallon is Deputy Chairman of the Tory Party, a senior member of the The Treasury Select Committee ("TSC"), and a senior Board member at Tullet Prebon – a company described to me last night by a City insider as “dominating the Libor sector”. At least three of the major institutions reporting on Libor rates are known to be Tullet clients. Fallon may thus have been questioning one of his clients when he interrogated Bob Diamond of Barclays last Wednesday.

Angela Knight was until recently the CEO of the BBA, an organisation on behalf of which she gave misleading Libor evidence on at least one occasion. She is a non-Exec director of Tullet Prebon, and she used to be a Conservative MP.

Michael Spencer  is the founder and CEO of ICAP, the largest Libor-sector money brokerage in Europe, he used to be the Tory Party’s Treasurer, and he (and his company) last year donated £1.3m to the Conservative Party. In 2010, Spencer was censured by the City for selling £45m of ICAP shares three weeks before issuing a profit warning.

Terry Smith is the CEO of Tullet Prebon. Derek Tullett, founder of inter-dealer broker Tullett Prebon, was listed as ‘a major contributor’ to Tory Party election funding during 2010. On his Board he has collected both Fallon and Knight, and although Fallon says Tullet’s “helped to nail the banks” that must in turn have put Angela Knight into an awkward position, she being the UK’s greatest defender of both the Banks and Libor. Smith spent the first five years of his life working on the investment side at Barclays, and is an Associate at the Chartered Institute of Bankers."

In the UK the Serious Fraud Office is FINALLY initiating an inquiry. It is a very revealing that when the SFO  advised 2 years ago that they had no funding to make an investigation, specifically into the Libor matter , they were subsequently underfunded even more, by government cuts.

Perhaps this time there will be such an avalanche of public outrage, that the sleazy greedy incestuous elite running the UK at the moment, will finally be held accountable for their acts. 

The only historical parallel to today's situation, which comes to mind, is  Oliver Cromwell's speech when he dismissed the Long Parliament in 1653. His words echo so true today

"It is high time for me to put an end to your sitting in this place, which you have dishonored by your contempt of all virtue, and defiled by your practice of every vice; ye are a factious crew, and enemies to all good government; ye are a pack of mercenary wretches, and would like Esau sell your country for a mess of pottage, and like Judas betray your God for a few pieces of money.

Is there a single virtue now remaining amongst you? Is there one vice you do not possess? Ye have no more religion than my horse; gold is your God; which of you have not barter'd your conscience for bribes? Is there a man amongst you that has the least care for the good of the Commonwealth?

Ye sordid prostitutes have you not defil'd this sacred place, and turn'd the Lord's temple into a den of thieves, by your immoral principles and wicked practices? Ye are grown intolerably odious to the whole nation; you were deputed here by the people to get grievances redress'd, are yourselves gone! So! Take away that shining bauble there, and lock up the doors.

In the name of God..Go"

And for those who think in their arrogance, that they are untouchable and above the law, never forget that in deepest crisis, the greatness of Britain has always been to produce a man equal to the task Nelson, Wellington, Churchill to name but a few.

This time will be no different, but to those presently in power and opposition, I can only echo Cromwell's words:

"In the name of God .....Go".

LIEBOR COINCIDENCES

LIEBOR COINCIDENCES

Mr Diamond acquitted himself admirably yesterday, in front of the inquiry. Having been subjected to hostile cross examination in court in a previous life, I remembered the techniques I was taught to use by my lawyer, to deflect and frustrate the questionner. Diamond followed these to the letter, being the grey man, submissive, evasive, unclear, forgetful … the list goes on. I was most bemused by Mr Mann having said “you are either a liar or incompetent”, or words to that effect, to which Diamond replied “is that a question”? Anyway well done Bob, you outclassed them all easily, as one would expect from one of the smartest and ruthless international bankers on the block.

Having viewed the woeful "question time" performances of the would be investigators, David Cameron made the correct investment banking decision, of leaving the losing team in place to pursue the inquiry. No professional judge, just amateurs, quick and dirty to “satisfy” the public.

As for the other ex victim Marcus Agius, the reinstated Chairman of Barclays, it may interest you to know he is also Chairman of … The British Banking Association, (“BBA”), which of course “fixes” the LIBOR rates daily. They even have  a direct link to the LIBOR charts on their home page. Much to my surprise however, Mr Agius has just given up the Chairmanship of the BBA, but who knows he may be back next week.

Anyway do not worry too much for his welfare because even if he ends up in the dole queue, his wife Katherine, the daughter of multibillionaire banker Edmond de Rothschild, should be able to keep him in pocket money.

And what of Angela Knight the Chief Executive of the BBA, who resigned a few short weeks ago. She also has directorship positions with Tullett Prebon, where she is a member of the audit committee.  Tullett Prebon, per their website, operates as an intermediary in wholesale financial markets facilitating the trading activities of its clients, in particular commercial and investment banks…. No potential of conflicts of interests here of course.

           

LIEBORGATE

LIEBORGATE

This is the biggest financial scandal that has ever existed and the implications for politicians and bankers alike, in the US and UK in particular will be colossal.

Very simplistically, banks finance themselves on a daily basis, by borrowing from other banks. Some sixteen Global Too Big to Fail banks provide information about their cost of borrowing from other banks daily, to the British Bank Association,(“BBA”). The BBA then “fixes “ independently the rate, which is known as LIBOR (London Interbank Offered Rate).  This rate is the foundation for virtually all international financial transactions globally.

These interest rates are used on USD 10 Trillions of LIBOR based bank loans, and on some USD 350 Trillions of derivatives contracts. Thus if the rate is suppressed by even 0.1% (10 Bips), this has an impact of transferring USD 350 Billion per annum from the lender to the borrower.

The lenders can be pension funds, insurance companies, private savers, and the borrowers and beneficiaries frequently the banks, who use  these rates  to calculate the cost of financing their own high risk bets in the derivatives markets etc.

Thus by fixing a much lower rate, the banks favor their own books to the detriment of every saver on the planet. Think of the possible implications for J P Morgan with a derivatives book exceeding USD 70 Trillion.

It is not possible for a bank to fix anomalous rates  in isolation, as they all are in constant touch, and there is a clear paper trail of actual rates,  and only the all too familiar wilful blindness of the banks concerned, the BBA and the regulators can make this possible.

The smoking gun in this matter has been in existence at least since 2008 and despite many appeals from aggrieved parties no investigation has been made.

Now, with the departure of Mr Diamond at Barclays, and his lamentably unconvincing  performance on TV,  we have the tip of a gigantic iceberg appearing. It will very soon engulf the Global banks, The Bank of England, the Federal Reserve, the Treasury and of course the politicians who went along with or encouraged this global economic rape.

They are all running for cover and trying to line up scapegoats. but it is hard to imagine that they will escape the wrath of the general public. They may understand little about financial matters, but  can all understand that the banks robbed their savings account by cheating on the interest rate paid.

I attach a link to a very powerful interview on the subject:

http://maxkeiser.com/2012/07/04/max-goes-ballistic-al-jazeera-talking-barclays-libor-cameron/