'
Let’s stop playing games, lock these criminals up and claw back every dollar they ever made.'<blockquote>'So even the layperson can understand these are the most important interest rates in the world and are used to price hundreds of trillions in ponzi (and legitimate) products. The key thing however is that the bankster crooks are going to try to spin this as if they were only doing it during the height of the crisis and were working diligently with the Central Bank cabal to “save the financial system, planet earth and potentially the solar system as a whole.” The mainstream media is mainly reporting this as a financial crisis phenomena. This is patently untrue.
In fact, as we see from the UK’s Financial Service Authority (FSA) in this Final Notice to Barclays, the bank derivatives traders were in many cases instructing others where to price LIBOR in order to make their positions profitable..'
-
My Two Cents on LIBOR-GATE, July 3, 2012</blockquote>
'..The Liberal Democrat leader should get Cameron and Osborne in a room, and go hell for leather on genuine banking reform..'<blockquote>'Re-imposing the separation would prevent investment banks from betting with ordinary deposits, exposing them to the full force of the market. At a stroke, our banking system would be far safer and the “too big to fail” issue largely resolved.
That would be anathema, of course, to the “banking titans” who rely on government cash for survival and from whom politicians, in turn, receive campaign donations and cushy jobs once their political careers have expired. Yet now, after several years of bank-induced economic torpor, and this shocking Libor scandal, our deeply corrosive banking status quo is finally under serious threat.
For all the attempts to smother these realities in Vickers-own-brand fudge, Glass-Steagall already has some very influential backers. The Bank of England Governor, Sir Mervyn King, has boomed that its removal, and the “breathtaking” scale of the bank bail-outs, has created the “biggest moral hazard in history”.
“People say I’m old-fashioned,” quips former Federal Reserve boss Paul Volcker. “They say banks can no longer be separated from non-bank activity – but that argument got us to where we are today”.
John Reed, the former Citigroup chairman, says a new Glass-Steagall would “go a long way towards building a more robust financial sector”. This is highly significant, seeing as Citigroup was effectively formed by a merger facilitated by Glass-Steagall’s removal. The vocal support of Lord Lawson for a fully split banking sector is also of great importance, not least because he was the Chancellor who implemented “big bang”.
..
The British public is desperate to see measures that tame our banks and make our financial system safer. We’ve reached a historic crossroads.
Nick Clegg needs to forget Lords reform and focus on what really matters. The Liberal Democrat leader should get Cameron and Osborne in a room, and go hell for leather on genuine banking reform. Argue, cajole and insist, Mr Clegg. Threaten to bring the Government down if you have to. But this split needs to happen and someone needs to get it done. There really is no alternative.'
- Liam Halligan,
'Liborgate’ could trigger crucial banking reform, July 7, 2012</blockquote>
'..In China this has evolved into government sponsored systemic corruption with Western motivations of greed and criminality. It infects every level of the private and public sector.'<blockquote>'Fraud is central to the Chinese system, it has emerged via virulent mutation of the ancient tribute system. In the past, these tribute systems reflected an ancient form of private regulatory order. In the past there was often a limited basis for the rule of law to govern transactions. Throughout Chinese history, trade relied on systems of tribute to ensure secure business and political outcomes.
These old systems were still essential throughout Asia up until only a few decades ago because, transacting parties could not rely on the rule of law to ensure the security of terms governing a transaction. In China this has evolved into government sponsored systemic corruption with Western motivations of greed and criminality. It infects every level of the private and public sector.'
- Craig Tindale,
The End of the Communist Dynasty, June 3rd, 2012</blockquote>
Context Banking Reform<blockquote>
'..a gradual corruption, on the American continent as well as in Europe, of the traditional principles of accounting..' - Jesús Huerta de Soto'..Like monetarists, Keynes held no capital theory .. the role time plays..' - Jesús Huerta de Soto(The looting of China) - '..Russia and China will pay a price.' - Clinton'[<a href="[
en.wikipedia.org] Witte</a>] had written to the Tsar stressing the urgent need for political reforms at home.' (
Context Reform)
'..Assad to the International Criminal Court..' (..
begin..)
'..ethics in particular .. absolute principle of ethics..' - '..deze fundamentele ethiek..'(Electric Universe) - '..History speaks only to those people who know how to interpret it on the ground of correct theories.' - Mises</blockquote>