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Taibbi/Rolling Stone | Everything is Rigged: The Biggest Price-Fixing Scandal Ever

By Matt Taibbi | Rolling Stone | April 25, 2013

"Conspiracy theorists of the world, believers in the hidden hands of the Rothschilds and the Masons and the Illuminati, we skeptics owe you an apology. You were right. The players may be a little different, but your basic premise is correct: The world is a rigged game. We found this out in recent months, when a series of related corruption stories spilled out of the financial sector, suggesting the world's largest banks may be fixing the prices of, well, just about everything."

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I think he has reached the new Glenn Beck level....

...that is to say, "my life will never be the same again." And he will dig for more. He does have
helluva' good writing skills when he's on fire.

I feel dumber by the second...

Anytime the subjects of economics and finance come up, I find them interesting, but boy do they make be feel stupid. I just can't wrap my brain around a lot of this stuff. I'll be sitting in the cheering section for all you expert number crunchers on here. :)

They make it this convoluted on purpose. It really isn't

complicated.

They make it appear so, to mask their criminal activity.

It is a traditional con. (confidence trick)

They lead you to believe that they know what they are talking about and you don't or can't.

So you trust them with your money.

They steal it.

Then they use circular logic and absolutely superfluous language to 'explain it away' and a few will put up pretenses like Mr. Taibbi here to show that some people are doing bad things, and we need to close (only) that one loophole.(leaving THEIR loopholes open)

Rinse. Repeat.

Try reading Austrian economics - it's much more interesting and makes sense.

I'm just talking about

other DP posters :)

Fiat financial power = imposed idolatry

The system we are dealing with has assumed and usurped the Just Powers of the People simply because we, and a few generations before us, appear to have waived and abandoned our God-given rights, one of which is to determine the value of our time to worship God according to the dictates of our conscience; and to know how that applies to ourselves, our families, neighborhoods, towns, counties, states, nations, and world; past, present, AND future!

Idolatrous systems of faith and finance have risen and fallen when some novel ideal is set up with an image, a priest class, and laws that demand obedience or penalty. Novelty becomes normalcy, as the early demands seem tolerable enough. Then, as their corruption of power increases without equal or greater constraint from us; it becomes more obvious that our worship, the power determine the quality of our lives, and the power to put to us to death, are no less than their obvious goals.

COVETOUSNESS, n.

1. A strong or inordinate desire of obtaining and possessing some supposed good; usually in a bad sense, and applied to an inordinate desire of wealth or avarice.

Out of the heart proceedeth covetousness. Mark 7.

Mortify your members--and covetousness which is idolatry. Colossians 3.

Noah Webster 1828

Find out just what any people will quietly submit to and you have the exact measure of the injustice and wrong which will be imposed on them. - Frederick Douglass

You forgot

to mention that it opens the door for usury. Many excellent points you bring up.

This is the article that got my posting privileges revoked:
http://bklim.newsvine.com/_news/2013/05/12/18212165-dr-stan-...

I just hope those that believe in reptilians or illuminati

Run with this version. Now that it is going public and can be a structure normal people can understand, they should stick to its simple to understand message. No more rolling eyes, just solidarity with the the fact we are being screwed by the powers that be.

Bad pairing

George Washington spoke of the "Illuminati." It is what they called themselves, it is not "conspiracy theory."
And as for the lizard thing, I hold out a 5% chance that anything might be true... They have the morals of reptiles... lol!

This is the article that got my posting privileges revoked:
http://bklim.newsvine.com/_news/2013/05/12/18212165-dr-stan-...

SteveMT's picture

There goes another conspiracy theory now proven correct!

We're running out of conspiracy theories as one-by-one they are becoming proven facts.

Thanks for posting this

Shared on Twitter.

LL on Twitter: http://twitter.com/LibertyPoet
sometimes LL can suck & sometimes LL rocks!
http://www.dailypaul.com/203008/south-carolina-battle-of-cow...
Love won! Deliverance from Tyranny is on the way! Col. 2:13-15

Best article I have read this year.

Excellent. Thanks for posting it.

www.youtube.com/truefictions

I try to change people every day. Do You?

"Every Thing Is Rigged"

Geez, ya think? If you had the money and power that these entities have, wouldn't you? I mean do think they LIKE the sport of of a level playing field? Yeah right leave it to chance.

God forgives always. Man forgives sometimes. But Nature never forgives.

What amazes me

is that nooone except Ron Paulers seem to notice that these type of manipulations come from the centralization of power. They continually look to some "god-like" regulator who is supposed to be all knowing and incorruptible. Why are they so blind? The power of money has to be put back in the hands of the people who trade their labor and this massive banking economy who pushes paper and produces nothing needs to go the way of the dodo.

"Endless money forms the sinews of war." - Cicero, www.freedomshift.blogspot.com

right all this happened with

right all this happened with the largest governments ever to exist on planet earth

yeah you would think that they would look to those who

had been aware of this for decades for the answers of what to do. You would think they would surmise that the guys who had this whole thing figured out might also have the answers on how to fix the problem.

Baby steps I guess...this is a good start

I'm SHOCKED! SHOCKED to Learn There's Gambling In This Casino

All seriousness aside, such wholesale theft and gaming of the financial system on this order of magnitude at the expense of the 99% for the aggrandizement of the 1% could only happen under a fiat currency regime. Interest rate volatility on 10-year Treasury yields in the years and decades after the US abandoned the post WWII Bretton Woods agreement has been 7 to 8 times greater than in the early 1960s when the dollar was still linked to gold. The one crucial element that is needed for any derivatives market to succeed and flourish is volatility. If monetary reform were to re-establish a link between the US dollar and gold, it would make most interest rate and foreign exchange derivatives as obsolete as buggy whips.

Ed Rombach

These parts were gold...so to speak

Saying the Libor submission process is not competitive is sort of like pointing out that bank robbers obeyed the speed limit on the way to the heist. It's the silliest kind of legal sophistry.

But Wise eventually outdid even that argument, essentially saying that while the banks may have lied to or cheated their customers, they weren't guilty of the particular crime of antitrust collusion. This is like the old joke about the lawyer who gets up in court and claims his client had to be innocent, because his client was committing a crime in a different state at the time of the offense.

"The plaintiffs, I believe, are confusing a claim of being perhaps deceived," he said, "with a claim for harm to competition."

"It's now evident that there is a ubiquitous culture among the banks to collude and cheat their customers as many times as they can in as many forms as they can conceive," he said. "And that's not just surmising. This is just based upon what they've been caught at."

One way to imagine it would be to picture a racetrack where a giant curtain is pulled over the track as the horses come down the stretch – and the gallery is only told two minutes later which horse actually won. Anyone on the right side of the curtain could make a lot of smart bets before the audience saw the results of the race.

STFU rolling stone, if you merely looked at the fifth bank of

pittsburg you'd of noticed popular mechanics and rolling stone are hearst companies financed by the stooges.

the pretension of these bozos who get into high places and think when they figure something out so does the world...

well fuhk you sir, fuhk the rest of these mainstream dildo waddling buttholes who listen when they choose.

we never needed beck, nor rolling stone, nor any other piece of shit fake financed crap outlet.

these guys put ads on 200 year old monopoly paper and think their shit doesn't stink.

"Let me issue and control a nation's money and I care not who writes the laws."
- Mayer Amschel Rothschild

"give me control of my own permaculture and I care a lot about what makes law"

-Permaculture Republican

If you want to beat the

If you want to beat the banks...there is only one way. Disengage from the matrix.

Stop buying all the useless crap nobody needs. Only keep enough in the bank to cover bills...store the rest of your wealth in gold/silver and other hard assets. Learn new skills. Plant a garden. Put in a well with a hand pump. Put up solar panels. Get a few chickens. Start an aquaponic system. Get guns & ammo and learn how to defend yourself. Homeschool your kids. Get the hell off Facebook and limit what you do online. Quit watching the boob tube. Stop using cell phone tracking devices. Stop eating GMO food. Stop drinking fluoridated water.

If you haven't walked away by now, what are you waiting for?

“Let it not be said that no one cared, that no one objected once it’s realized that our liberties and wealth are in jeopardy.”
― Ron Paul

Bartender! I'm buying this man a drink! I like the way he thinks

LOL! I have to quit sleeping in, you keep stealing my best lines!
I'll try to add something useful. I have not scrolled down, ut if there are any replies they are likely something like "But John C, How do I do that? I'm stuck on the hamster wheel."
One step at a time. First thing I did was look at my bills. When I first woke up, it was quite a list. I dropped my landline phone and cable (the whole TV got the boot) and curbside trash pickup, put a woodstove in, started cutting up and paying off the plastic, the foo-foo coffees stopped, no more supporting Hollywood, I won't even rent a "Red box" movie... You know what I got, in addition to a big chunk of my money back? A big chunk of my TIME back. Once I cut the funding of my own hypnosis, I suddenly had PLENTY of time for a few chickens and a garden.
Zero your efforts in on that worthless FRN. STOP TOUCHING THEM as much as you possibly can. And not cheating by using plastic or checks. Just try to circulate the least money you can. Yes, I still have to spend FRNs at the grocery store. That is where the garden and chickens come in, reduce how many of them you circulate at the store. And when you have to shop, keep it as local as possible.
It gets to be fun, my neighbors think I am a "pushover" because I won't take money when I do favors for them. It is stuff like pull some weeds, grab something while I'm in town, stuff that does not cost me money so I don't need to recoup any losses. By refusing the money when I offer, I get paid in things like chocolate cake, a book on alternative energy, garden stakes for the garden that was tilled for me... And yes, there is one couple who "take advantage" but... they are not evil, just fell for some of the lies, a few too many. I'm just trying to love my way through it, they cost me nothing but time that I freely offer, so I am trying to not let them aggravate me. I am hung up on the way they ask for help, at the last minute and by whining and beating around the bush, I get to play this guessing game about what it is they need. I had a sister like that and it hits me at a very deeply ingrained level.... Just SPIT IT OUT!!!! Arghhhh!
Have a great day, and rather than tell you to get out of my head, I'll invite everyone else to join us here!

This is the article that got my posting privileges revoked:
http://bklim.newsvine.com/_news/2013/05/12/18212165-dr-stan-...

;). I think people are

;). I think people are scared that might actually LIKE what happens once they disengage from the system.

“Let it not be said that no one cared, that no one objected once it’s realized that our liberties and wealth are in jeopardy.”
― Ron Paul

Did someone steal your account ?

That's the best comment I've seen you make - I think the best Idea, if you can pull it off.

Maybe you are familiar with this book ? It goes over some of the ins and outs of what you are talking about, though a bit more extreme than is feasible for most people

"The Man Who Quit Money is an account of how one man learned to live, sanely and happily, without earning, receiving, or spending a single cent. Suelo doesn't pay taxes, or accept food stamps or welfare. He lives in caves in the Utah canyonlands, forages wild foods and gourmet discards. He no longer even carries an I.D. Yet he manages to amply fulfill not only the basic human needs-for shelter, food, and warmth-but, to an enviable degree, the universal desires for companionship, purpose, and spiritual engagement. In retracing the surprising path and guiding philosophy that led Suelo into this way of life, Sundeen raises provocative and riveting questions about our relationships with money and the decisions we all make, by default or by design—about how we live and how we might live better."

http://www.amazon.com/Man-Who-Quit-Money/dp/1594485690

I'm hoping it is a sign

that the "collective consciousness" is shifting in such a way that us "oddballs" are no longer so rare...
Yes, I have seen that story. That guy got to a level I do not expect to achieve, but he is a fine living example of what can be done if you just make the decision to do it.

This is the article that got my posting privileges revoked:
http://bklim.newsvine.com/_news/2013/05/12/18212165-dr-stan-...

Actually this is all legal and required by law and by design.

http://www.llsdc.org/attachments/files/105/FRA-LH-PL63-43.pdf

Congress passed this law to save us from the bankruptcy they had built. They borrowed and borrowed and lived beyond their means.

Congress promised Federal Reserve members 6% profit after expenses on their paid in reserves (originally in gold).

Anything over 6% is paid to the US Treasury as a franchise Tax.

Lobbying is an expense (spare no expense). Executive Salaries and fancy buildings are an expenses.

Lobbyist explain to Congress what regulations will help members maximize the franchise tax paid and what competitors are threatening future income.

And if the members fall short of the 6% profit, Congress promises to bail them out.

The dual mandate of maximizing employment and stabilizing (manipulating) prices is part an parcel of the whole package.

Congress created the Federal Reserve and uses it to maximize it spendable income.

Congress will not bite the hand that feeds them and does not have the gold or money to return to Federal Reserve members, besides owing another $17 trillion.

Congress has created an unquestionable debt. They have failed the country in every way possible, all because the Constitution gave Congress the authority to borrow on the credit of the United States.

If we End the Fed, the bill comes due.

In 1835 Andrew Jackson paid off the foreign creditors. In 1872, Congress borrowed from foreign creditors.

Here's the score, measured in Gold:
http://pricedingold.com/dow-jones-industrials/
http://pricedingold.com/us-gdp/
http://pricedingold.com/2012/08/29/us-federal-debt/

Houston, we have a problem. We are debt slaves and Congress is like a child with a credit card.

Bankers see guns as a problem if they decide to send in the repo men.

So the terms of new credit is gun confiscation.

Free includes debt-free!

No creditors, no debt.

Put a bounty, dead or alive on the lot of them.

Jubilee!

We forgive everyone, even the banksters. NO creditors, no debt. Everyone has a clean slate upon which to build an honest life. Then we make usury punishable by death.

This is the article that got my posting privileges revoked:
http://bklim.newsvine.com/_news/2013/05/12/18212165-dr-stan-...

bankers and lawyers...they

bankers and lawyers...they know this is the easiest solution for the people which is why they are fighting so so hard for gun control.

Due process makes certain demands.

Congress is authorized by the Constitution to borrow. It was a mistake.

And the people did not object. Now 142 years later the people object.

This is a problem. Congress has neither the Gold nor the currency to meet its debts. The US is bankrupt. If we renege the interest rates will skyrocket.

Smarter head that mine are needed to find a way out of this morass.

Free includes debt-free!