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LinkedInWell, some of you by now have probably heard that the former CEO of Britain's Barclay's Bank resigned over the LIBOR scandal, and has accused the bank -along with others - of "fixing" interest rates. I have to be honest: when I saw this, I simply laughed: The Biggest Financial Scam In World History Now the LIBOR is simply an acronym for London Inter-Bank Offered Rate, the rate at which banks extend credit to each other, similar in effect to the Federal Reserve's rate. Now, as usual, The Daily Bell has been following this story, and I cite their most recent article on the LIBOR … [Read more...]
ECONOMICS, PHYSICS, AND THE RECENT FINANCIAL MELTDOWN
April 7, 2012 By
Readers of my books, and in particular, Babylon's Banksters, will know of my fascination for the field of "econophysics," the field of economics as modeled by physicists who entered that discipline ca. the early 1980s, using their techniques of modeling in quantum mechanics and applying them to economic systems. IN my researches over the years, one of the things that has repeatedly stuck out like a sore thumb to me in reading ancient texts and studying ancient monuments from the point of view of an engineer or physicist (and I am neither by the way), is the persistent presence in those texts … [Read more...]