Bank of England colluded in interest rate Libor scam


The Bank of England has been implicated in a scandal in which banks rigged a key interbank lending rate to maximise their profits.

In an email, Barclay’s chief Bob Diamond relates a conversation in which Bank of England’s deputy government Paul Tucker told his bank to manipulate Libor rates and bring them down in line with the rates of other banks.

http://www.guardian.co.uk/business/2012/jul/04/bank-of-england-deputy-libor

The Libor scandal is focussing attention of parliament for the first time on the banking system and how it really functions.

The fractional reserve banking system, invented by the Rothschild dynasty, means that modern banks can print money out of thin air and charge interest.

However, their capacity to pull off this scam depends on backing from a central government bank with a monopoly right to issue legal tender or money to the banks for their day to day business. Central banks can also print money to keep on making interest payments – bond buying — when the country can no longer afford them, sparking hyperinflation.

Getting this „money“ for low interest rate while charging high interest rates allows banks to make huge profits from the interest rate difference in spite of the fact they have no money.

Barclay’s chief Bob Diamond actually refers to this scam in his email when he notes that the banks do not have to put up any money up front.

The interest bank fixing scam goes far beyond the UK and involves the Federal Reserve and the ECB. 

Involved in the Libor scam are also political figures.

While a tiny group of creditors who understand how this scam work get richer and richer, the UK is descending into a third world country with mass poverty, hunger, unemployment, and a collapsing university system and military capability.

The UK’s bank balance sheets are four and half times the annial GDP, notes Liam Halligan in The Telegraph.

“Because the UK’s banking sector is absolutely enormous, with balance sheets totalling more than four-and-a-half times’ annual GDP. In proportionate terms, this is more than seven times the size of all US banks,” he writes.

 http://www.telegraph.co.uk/finance/comment/liamhalligan/9366983/Italy-has-won-this-euro-battle-but-not-the-war.html 

Halligan pleads for genuine banking reform but this may not be accomplished without root and branch political reform including abolishing the Saxe Coburg Gotha monarchy, at the heart of the establishment network.

Far from being a centre of democracy and freedom, the UK is emerging as a centre of Globalist corruption far beyond the City of London and the UK government’s support of a fascist EU government in Brussels. The UK’s largest drug company GSK caught red handed trying to mass poison the UK and European population with the Pandemrix jab in a hyped pandemic.

The Queen gave a knighthood to the CEO of GSK in May underlining how deep the personal corruption of the monarch is. Bank of England chief Mervyn King and many of the other key bankers have also been given knighthoods.

Given the closeness of Prince William to the Queen, it is to be feared that the genocidal gene goes all the way to the youngest generation. William recently joined a group of investment bankers financing a major vaccine programme for Africans.

http://www.arkonline.org/about-us/our-partners

The devil is a murderer AND a liar. If Prince William joins in the tradition of lying as well as murdering, it should not surpise anyone given the record of his father and his grandparents.

It is time for the English to rise up and get rid of this disastrous Saxe Coburg Gotha freaks so heavily involved in the fractional reserve and vaccine scams and who apparently want to turn the UK into a 1984-style totalitarian society.

One Response to Bank of England colluded in interest rate Libor scam

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