BARCLAY’S FORMER CEO: BANKS WERE FIXING INTEREST RATES!? NO! SAY ...July 9, 2012
Well, 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:
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 "scandal" here, for it points out the cognitive dissonance of the culture we live in, for in this case, the cognitive dissonance is caused by the central banksters themselves:
"The article we have listed last is of special import because the subject was a poll that asked people whether bankers should be prosecuted for "crimes" and came out just as the LIBOR "scandal" was breaking.
"Now, some may find this to be a beneficial coincidence but we will say with considerable certitude: This Is All a Big Scam.
"We're seeing the formulation of a full-blown dominant social theme before our aching eyes. It doesn't make any sense otherwise. It's all just promotional propaganda.
"The idea is that top British banks conspired together to "rig" the price of LIBOR. But the entire financial industry is rigged from beginning to end, starting with the price and volume of money.
"Central banking is the predominant theme of the monetary world – of the global economy, actually. All around the world, small groups of men under the supervision of the BIS meet regularly to determine (or "fix") the price and volume of money.
"Yet we are to believe that the paltry price shaving performed by LIBOR banks is an expression of ultimate criminality while central bank price-fixing on a day-to-day and sometimes hour-to-hour basis is beneficial?"
(For the whole Daily Bell approach, with its own previous articles on the subject, see The LIBOR Scandal Is a Sham Engineered by Central Banking Elites
In other words, when non-central banks conspire to fix interest rates, it's criminal, but when central banks do it, it's ok.
The reason goes to a point I first made in Babylon's Banksters. The real philosophical discussion that needs to be had about the nature of money, is not about what it is and what it represents, but about who it represents. The need for such a discussion is now upon us with a vengeance, for there are those advocating, on one end of the spectrum, a return to some sort of bullion backed money, others (like the Rothschilds), have been advocating a global currency backed by the land of the world itself(hence their interest in promoting a new "Gaia" religion, after all, money and the temple, as I pointed out in that book, have a millennia-old history of entanglement), while still others have been advocating the state issuance of debt-free money, the latter heretics particularly villified as reviving Lincoln grennbackery, JFK United States notes folly, or, neo-Nazi Feder notes.
If money represents a who, then it stands to reason that those who use it, and who it ultimately represents, must be a part of the conversation of what it is, and who gets to issue it, and what policies will be pursued. The plutocriminal oligarchs have, of course, been quite successful at excluding the vast majority of people over whom they would rule, from that conversation. It is time, however, for everyone to (1) become informed on the philosophical discussions of money, from the von Mises Austrian school to the Lincoln greenbacks, colonial scrip, and neo-Federism that others advocate. And (2) it is time for the discussion to include everyone. We envision, so to speak, a metaphorical "gate crashing" at the next meeting of the Bilderbergers, and, perhaps, a new slogan: "No money issuance, without representation." In short, it is time to inject ourselves into the conversations from which we have been excluded.
See you on the flip side.