20 votes

Reuters: Tim Geithner Now Implicated in LIBOR Scandal

Bank of England says took Geithner Libor views on board

By David Milliken and Timothy Ahmann
Fri Jul 13, 2012

(Reuters) - The Bank of England confirmed on Friday it had received U.S. recommendations to overhaul the Libor benchmark at the heart of a global rate-rigging scandal, saying it had passed them on to the banking group responsible for the rate.

Documents obtained by Reuters earlier on Friday showed that U.S. Treasury Secretary Timothy Geithner pressed the British central bank in June 2008 to make changes to the way that the widely used interest rate benchmark was set.

Read more at Reuters

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Reading comprehension fail

"Implicated"? According to the report, Geithner was suggesting changes to prevent the type of scandal that happened.

Kind of like a heading that says, "Ron Paul implicated in real estate bubble."

Chickens coming home to roost

Geither to Bernanke to The Whitehouse... and from there to heads of other central banks.

The entire global monetary system is a fraud.

"One resists the invasion of armies; one does not resist the invasion of ideas" Victor Hugo

The question no one asks is often the most important...

My question would be at what point did the scandal become exposed? We know the fed commits financial crimes daily, yet there are no hearings for the federal reserve. So what in the world prompted the LIBOR scandal to become uncovered? Any time these insiders are drug before the people on TV you can rest assured it is part of a bigger scheme, and that it is being used to mask another bigger fraud. Just like the bankers and Wall St. execs getting bonuses after the bailout, no heads rolled, no convictions were to be had, yet now this comes to light, what give?

Always remember:
"It does not require a majority to prevail, but rather an irate, tireless minority keen to set brush fires in people's minds." ~ Samuel Adams
If they hate us for our freedom, they must LOVE us now....

Stay IRATE, remain TIRELESS, an

To quote Office Space

It is time some bankers start doing time at "Federal pound me in the a** prison".

These crimes are heinous.

"One resists the invasion of armies; one does not resist the invasion of ideas" Victor Hugo

I figure this plays into ....

a new bank, and/or, currency consolidation scheme.

____

"Take hold of the future or the future will take hold of you." -- Patrick Dixon

Bingo. 'Lookie at all the

Bingo. 'Lookie at all the fraud committed by those nasty bankers! If only we had a better system that could PREVENT THAT FROM EVER HAPPENING AGAIN.' Oh but we tried that already after the great depression, didn't we? Glass-Steagal anyone?

Exactly

What humans fail to see is that if we have so called free markets then why does the value of our labour repeatedly go down. It is measured in 'money'. The value of our currency isn't increasing folks. Its going down day by day. Commodity prices tells us! It's solid proof that the system is rigged. They dupe us by calling it inflation and a debt problem and pretend it's something very important to act upon. Which they never do by the way! It's STILL here ;o)

We can measure value based on our performance inside this system. What are we most concerned about. Is it important to us to be in centre of things at all times/perform well as they say. Or dow we REALLY care for the general public.

If we do care we must terminate all kinds of monopoly. This includes 'money'. Unless the system is completely transparent to us all we cannot allow a little number of people to run such an important service in our countries. Simple as that!

It destroys people. The bad guys included. It moves us away from all aspects of true freedom and honor.

I've always had this feeling

that if/when the 'crash' happened, we would constantly be surprised at how the current crisis of the moment was so much larger than the last batch. The last few events and especially this one seem to follow that trend and it makes me wonder how many larger and larger ones are yet to come before some switch is flipped somewhere and life as we know it follows a different path.

It's a good day.