The uncovering of the worst kept secret in the world and subsequent criminal investigation, the fixing of the LIBOR by no less than 20 different European Banks, well below the market rate of interest is either proof that:
- The oligarchs have lost control of the narrative and the wrong information fell into the hands of
principledthe wrong people.
- The oilgarch bankers now realize that the jig is up and it’s all about being the last one standing when the smoke clears and the pichforks are cleaned of their blood
I’m sure there’s a third or fourth potential interpretation of all of this, but the question you should be asking yourself is simply, “Why/How did this information wind up in the hands of someone willing to act on it? And, more importantly, why now?”
Once you start asking questions like that and assume that there are no coincidences then it becomes more likely that #2 is the dominant scenario and what started with JPMorgan’s (NYSE:JPM) CEO Jamie Dimon having to admit to a ridiculous trading loss in public, which has since grown in potential size by more than 400% since Dimon’s initial disclosure, is beginning to reach something close to end-game where bankers will begin going to jail for the crime of stealing multiple billions of dollars and euros from savers with loans and bond coupon payments tied to a fraudulent LIBOR that has been at the heart of the ability of the central banks to hold this ridiculous monetary regime together for the past 3+ years that they neither should have nor should anyone (except those with ties to the banks themselves) have ever wanted.Previous Post » DJIA Top Volume Leaders In Focus: Bank of America, General Electric and JPMorgan