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"The Illuminati Were Amateurs" - Matt Taibbi Explains How "Everything Is Rigged"

Tyler Durden's picture




 

From Matt Taibbi of Rolling Stone, back to his best, most floral of writing styles:

Everything Is Rigged: The Biggest Price-Fixing Scandal Ever

The Illuminati were amateurs. The second huge financial scandal of the year reveals the real international conspiracy: There's no price the big banks can't fix

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.

You may have heard of the Libor scandal, in which at least three – and perhaps as many as 16 – of the name-brand too-big-to-fail banks have been manipulating global interest rates, in the process messing around with the prices of upward of $500 trillion (that's trillion, with a "t") worth of financial instruments. When that sprawling con burst into public view last year, it was easily the biggest financial scandal in history – MIT professor Andrew Lo even said it "dwarfs by orders of magnitude any financial scam in the history of markets."

That was bad enough, but now Libor may have a twin brother. Word has leaked out that the London-based firm ICAP, the world's largest broker of interest-rate swaps, is being investigated by American authorities for behavior that sounds eerily reminiscent of the Libor mess. Regulators are looking into whether or not a small group of brokers at ICAP may have worked with up to 15 of the world's largest banks to manipulate ISDAfix, a benchmark number used around the world to calculate the prices of interest-rate swaps.

Interest-rate swaps are a tool used by big cities, major corporations and sovereign governments to manage their debt, and the scale of their use is almost unimaginably massive. It's about a $379 trillion market, meaning that any manipulation would affect a pile of assets about 100 times the size of the United States federal budget.

It should surprise no one that among the players implicated in this scheme to fix the prices of interest-rate swaps are the same megabanks – including Barclays, UBS, Bank of America, JPMorgan Chase and the Royal Bank of Scotland – that serve on the Libor panel that sets global interest rates. In fact, in recent years many of these banks have already paid multimillion-dollar settlements for anti-competitive manipulation of one form or another (in addition to Libor, some were caught up in an anti-competitive scheme, detailed in Rolling Stone last year, to rig municipal-debt service auctions). Though the jumble of financial acronyms sounds like gibberish to the layperson, the fact that there may now be price-fixing scandals involving both Libor and ISDAfix suggests a single, giant mushrooming conspiracy of collusion and price-fixing hovering under the ostensibly competitive veneer of Wall Street culture.

Why? Because Libor already affects the prices of interest-rate swaps, making this a manipulation-on-manipulation situation. If the allegations prove to be right, that will mean that swap customers have been paying for two different layers of price-fixing corruption. If you can imagine paying 20 bucks for a crappy PB&J because some evil cabal of agribusiness companies colluded to fix the prices of both peanuts and peanut butter, you come close to grasping the lunacy of financial markets where both interest rates and interest-rate swaps are being manipulated at the same time, often by the same banks.

"It's a double conspiracy," says an amazed Michael Greenberger, a former director of the trading and markets division at the Commodity Futures Trading Commission and now a professor at the University of Maryland. "It's the height of criminality."

The bad news didn't stop with swaps and interest rates. In March, it also came out that two regulators – the CFTC here in the U.S. and the Madrid-based International Organization of Securities Commissions – were spurred by the Libor revelations to investigate the possibility of collusive manipulation of gold and silver prices. "Given the clubby manipulation efforts we saw in Libor benchmarks, I assume other benchmarks – many other benchmarks – are legit areas of inquiry," CFTC Commissioner Bart Chilton said.

But the biggest shock came out of a federal courtroom at the end of March – though if you follow these matters closely, it may not have been so shocking at all – when a landmark class-action civil lawsuit against the banks for Libor-related offenses was dismissed. In that case, a federal judge accepted the banker-defendants' incredible argument: If cities and towns and other investors lost money because of Libor manipulation, that was their own fault for ever thinking the banks were competing in the first place.

"A farce," was one antitrust lawyer's response to the eyebrow-raising dismissal.

"Incredible," says Sylvia Sokol, an attorney for Constantine Cannon, a firm that specializes in antitrust cases.

All of these stories collectively pointed to the same thing: These banks, which already possess enormous power just by virtue of their financial holdings – in the United States, the top six banks, many of them the same names you see on the Libor and ISDAfix panels, own assets equivalent to 60 percent of the nation's GDP – are beginning to realize the awesome possibilities for increased profit and political might that would come with colluding instead of competing. Moreover, it's increasingly clear that both the criminal justice system and the civil courts may be impotent to stop them, even when they do get caught working together to game the system.

If true, that would leave us living in an era of undisguised, real-world conspiracy, in which the prices of currencies, commodities like gold and silver, even interest rates and the value of money itself, can be and may already have been dictated from above. And those who are doing it can get away with it. Forget the Illuminati – this is the real thing, and it's no secret. You can stare right at it, anytime you want.


 

 

 

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Sat, 04/27/2013 - 09:15 | 3505293 TrulyStupid
TrulyStupid's picture

You've been welll trained in denial...and no doubt proud to be a Beta.

Sat, 04/27/2013 - 14:53 | 3505819 Kelley
Kelley's picture

Rolling Stone is a leftist rag, but Taibbi lays out the facts of worldwide financial corruption better than anyone else ever has.

Sat, 04/27/2013 - 08:53 | 3505274 Amagnonx
Amagnonx's picture

Apparently because you can see 2% of whats going on in plain sight, then thats the whole story - 'look no further' Taibbi says - 'theres no illuminati all is revealed.'

 

The banking story is an important part of whats going on, but it is far from the whole story - and just because the advancement of the plan is so massive it can no longer be hidden, does not mean the plan is revealed.

 

The plan continues, and although I have some respect for the work Tiabbi is doing - the hubris of saying that this bit of economic chicanery is the whole story and all you need to know is disingenuous.  Yes, they intend to seize all private property and leave you with nothing - that is the plan.

 

Here are some of the other things we can look forward to if the economic takeover needs a little boost - they may not all be executed - but they are either ready to roll out, or near completion;

 

EMP blast - 'solar flare' they will call it.

Pandemic - brought to you most recently (almost) by Bayer.

Global drought - courtesy of high intensity antenna arrays

Nuclear war - courtesy of 'insert any old excuse here'

 

The two possibilities below are generally considered wildly unliekly - but there is some evidence that work has been done on them

Alien invasion - with 'real' aliens and hyper tech - products of genetic engineering-and secret adv tech

Return of the messiah, with nice drug induced euphoria, courtesy of aerial spraying and project blue beam.

If you think you are fkd because the economic situation is going south - then you are unestimating how fkd you really are.  There is some chance BTC will fk them on the economic side of things, they still got a lot of nasty sht they can pull though.  Say thankyou Mr Rotchild - whoever, or whatever you are.

Sat, 04/27/2013 - 13:59 | 3505724 Herd Redirectio...
Herd Redirection Committee's picture

Microchips

Google Glass

Are more likely 'companions' for an alien invasion or 'return of the messiah', IMO.  If you could directly stimulate the release of endorphins, dopamine, etc.  Inducing euphoria, rage, etc.  Maybe the tech doesn't exist just yet, but nothing would surprise me at this point, esp. if you told me MIC tech was 15-20 years beyond what is available to the public.

Sat, 04/27/2013 - 09:15 | 3505288 rsnoble
rsnoble's picture

Of course the last resort is always dropping bombs.  Problem now is all these crazy bastards have 1000's of nukes.  How's that for security? LOL.  It's got way too out of hand.

Sat, 04/27/2013 - 09:41 | 3505303 Sathington Willougby
Sathington Willougby's picture

Yeah I need Rolling Stone to popularize what was obvious in 2008.  Really you think livestock give a shitty lite beer about the Libor?  Give me lower rate on free housing.  With cheese.  Do whatever it takes, I want riskless returns on my bullshit govt savings plan.  Make sure I have enough spending money to plug every gap with my BMW with my pissy tv watching girlfriend bitching me out while I text some other shallow skank.  

Plus I had the stonecutter's song memorized long before that.

My name is Poochie D and I rock the telly I'm half Joe Camel and 1/3 Fonzarelli.  I'm a rappin surfer from gangster city I'm a kung fu hippie you the fool I pity.  Word.

Sat, 04/27/2013 - 09:39 | 3505316 therearetoomany...
therearetoomanyidiots's picture

Funny how the 'rolling stone' writer 'extrordinaire' can't seem to say it, to mention that helping facilitate all this mess is the very current administration, the 'chosen one', the god.   The one Rolling Stone informed us was so cool and hip (though he wears mom jeans and rides bicycles with a helmet on).  

Yes, don't get me wrong, this has been going on, but Obama and his puppet Holder have done NOTHING to prosecute any of the banksters.  NOTHING. 

Sad, really, that the left is so fucking stupid.

Sat, 04/27/2013 - 10:11 | 3505357 Clint Liquor
Clint Liquor's picture

Crony-Capitialism is ignored by which-ever party is in power. Much like Republicans are only fiscally responsible when the Democrats are in power and the Democrats are only pro-civil liberties and anti-war when Republicans are in power.

Sat, 04/27/2013 - 11:08 | 3505440 therearetoomany...
therearetoomanyidiots's picture

Sadly, this used to be less of a true statement.   I may even have to disagree, because it seems neither party really seems to give a shit, ever, period.  Just look at the internet tax that will be law in one month's time.

Unfortunately, you and I and the others on here, and a handful out in the pastures of America are aware.   Otherwise, there would be pitchforks and torches descending en masse onto DC. 

 

 

Sat, 04/27/2013 - 12:43 | 3505610 DelusionalGrandeur
DelusionalGrandeur's picture

Tthis shit is get esWhat I Don't Get...Where Is The Outrage From The Masses? I Mean Is Everyone That Complacent, Or Just That Tired? Maybe It doesn't boil down that easily (thank sweet baby jesus with currly brown hair and blue eyes I think I just found the settting that was pascal casing everything I write.)
into two groups (tired or complacent) but somethings gotta break these people out of their slumber, right? It's like the majority are all suffering from stockholm syndrome. I don't get it and never claimed to but this shit is getting old.

Sat, 04/27/2013 - 14:15 | 3505744 Herd Redirectio...
Herd Redirection Committee's picture

Stockhold Syndrome is a pretty good analogy.  Cognitive dissonance is what is directly stopping people from getting it. 

It = "the government is NOT looking out for your best interests"

Sat, 04/27/2013 - 15:07 | 3505841 Lost Word
Lost Word's picture

Perhaps Everyone intelligent enough to understand the Problem also knows how Absolutely Overwhelming the task to fight against the Power which is increasing exponentially.

Sat, 04/27/2013 - 14:06 | 3505734 gwar5
gwar5's picture

Yes, they're all fucked up traitors but I'd still much rather have Romney/Ryan in the White House when the collapse comes. 

 

Obama can't wait to disarm and start killing Americans who oppose a new martial law regime. People gotta be nuts to want a marxist Obama in there after his friend Bill Ayers has already said he's OK murdering 25 million Americans who can't be 're-educated'.

 

Sat, 04/27/2013 - 09:42 | 3505317 therearetoomany...
therearetoomanyidiots's picture

Pass me another beer...

Sat, 04/27/2013 - 09:41 | 3505320 Blue Vervain
Blue Vervain's picture

Why would this not have happened?

Sat, 04/27/2013 - 10:47 | 3505396 resurger
resurger's picture

no shit matt

Sat, 04/27/2013 - 18:50 | 3506428 paint it red ca...
paint it red call it hell's picture

Now we know it's all a conspiracy , lets get jon stewart to make fun of it then we can all go ponder things having real societal impact like where to eat supper and the meaning of bitcoin.

Sat, 04/27/2013 - 10:47 | 3505397 F. Bastiat
F. Bastiat's picture

Taibbi's a well known marxist.

Sat, 04/27/2013 - 12:43 | 3505613 earleflorida
earleflorida's picture

in the end... marx's will be proven correct-- but sadly his doctrine will be emasculated by his own handlers...

Sat, 04/27/2013 - 13:50 | 3505709 gwar5
gwar5's picture

Marx was a racist and a pedophile. He never worked a day in his life and mooched off of Engals, who mooched off his own parents.

 

Marxism is an immoral crime against humanity and was never meant to progress beyond the Dictatorship of the Proletariat. It was always a lie to create dictatorship. Former marxist victims stongly advise the immediate burning all marxists in the public square in the name of self defense of humanity. 

 

 

Sat, 04/27/2013 - 15:52 | 3505905 earleflorida
earleflorida's picture

"How Stalin Distorted Marxism?"      4/4/11

http://www.politicalaffairs.net/how-stalin-distorted-marxism-2/

Note:   nixon, kissinger and the nwo globalist grand plan was for a socialist/democratic world? capitalism was to be married with globalism in virtual hybrid connected fluid fiscal dependent society[ies]... strategically and methodically indoctrinated by western white-washed sanitised communism in todays neoliberalism fascism that is interbreeding rapidly in the whole of the polarized america's!

 a nascent covert venture, perpetuated by undeclared wars and endless civil wars by the propaganda machine oracles... where surragation of all ideologies becomes a foster child of a 'Machiavellian Marshall Law', and... nor knot a one-off gordian be tied for fear of segregation-- naught even a living breathing soul shall be enlightened from the throes of indifference when the rubiconic drawbridge... of a universal moribund hegemonic curse is finally lifted!?  

this is what thy morrow bringeth...

Sat, 04/27/2013 - 15:38 | 3505899 F. Bastiat
F. Bastiat's picture

How so?

Sat, 04/27/2013 - 16:56 | 3506105 earleflorida
earleflorida's picture

the authors of the winning side of history have time on their side? they forget about the yin and yang. think of time in minute's for the moment,... in your lifetime it is insignificant at most. now think of those same minute's in the origin of our [parallel? Quantum& God`Particle] universe which ironically translate into lightyears. as the illusion begins to manifest in your [ones] mind that time itself, is but a simplistic benchmark for the past and future where there is no begin, nor end...

marx's was a realist and pragmatist... a deep altruistic thinker

Ps. Stalin and Mao were psychotic madmen, period... and let's not forget Hitler who started the ball rolling --egg'd on by the fucking british empire

around and around we go...

Sat, 04/27/2013 - 18:11 | 3506353 F. Bastiat
F. Bastiat's picture

Marxism is based on an incorrect interpretation of the nature of mankind.

 

In truth, the nature of mankind is aggressive, selfish, and sinful. As far as I know, only Christianity interprets the true nature of mankind correctly, which is why Western civilization has generally flourished over the past 1,000 years or so.

 

On a related note - Hayek wrote extensively about the reasons why "The Worst Get on Top", in "The Road to Serfdom" - the relevant chapter of which is online here:

http://www.savageleft.com/poli/rts-ten.html

 

 

Sun, 04/28/2013 - 00:24 | 3506907 earleflorida
earleflorida's picture

Hayek's , 'the road to serfdom' and not so looked upon writings is in open display upon my bookshelfs as are all Marx's writings... just a quick about-face for my immediate reference in my library.   

Ps. i'm going to mention chief justice rehnquist as being an integral part of america's judicial history over the last four decades and how he played a pivital part in commerce/finance and politic?   as an enlisted gi during wwii... as were thousands of others, given copies by the war [state] dept. of hayek's 'road to serfdom' to read and keep. rehnquist cherished it his entire life.

Ps2. w. rehnquist was a barry goldwater man... and literally saw how being honest and fearless crushed barry's presidential bid. ironically it was nixon that nominated him to the supreme court.      'Biographies: A Rehnquist Legacy'  http://uspolitics.about.com/od/biographies/a/rehnquistLegacy_2.html  And  Activism v. Judicial  Courts __  'The Most Activist Supreme Court in History"

http://www.bsos.umd.edu/gvpt/lpbr/subpages/reviews/keck205.htm                           

lastly,... Marx, Keynes, Hayek, and the Crisis of Capitalism-- PartI 

http://www.marxist.com.com/marx-keyes-hayek-and-the-crisis-of-capitalism-part-one.htm

bonus primer:    http://en.wikipedia.org/wiki/Friedrich_Hayek      ** several controversial book reviews gave hayek great angst

primer #2:   the sharing of the noble prize in 1974... and how the rothschild's misfeasor co-opted this once great institution and why where at the crossroads of today?     http://en.wikipedia.org/wiki/List_of_Nobel_Memorial_Prize_laureates_in_Economics

 

Sun, 04/28/2013 - 08:33 | 3507224 F. Bastiat
F. Bastiat's picture

The nature of mankind is aggressive, selfish, and sinful.

Marx failed to account, or openly ignored, that inherent fact of mankind's nature.  Only Christianity correctly interprets it, at least as far as I know, and that has accounted for the general success of Western civilization over the past 1,000 years or so.

Frankly, Marxism is little more than a primitive counter-Christian quasi-religion.

Sun, 04/28/2013 - 16:29 | 3508084 earleflorida
earleflorida's picture

edit links:    http://uspolitics.about.com/od/biographies/a/rehnquistLegacy_2.htm

http://www.marxist.com/marx-keynes-hayek-and-the-crisis-of-capitalism-part-one.htm

http://www.socialist.net/marx-keynes-hayek-and-the-crisis-of-capitalism-part-two.htm        [combined '3' part series, incl. in part II]

http://en.wikipedia.org/wiki/Judicial_activism         *{this is why our country is divided when individuals that are supposed/ sworn to uphold the letter of the constitution and its articles become subjective v. objective__ eg. wedge issues that resurface like clockwork when a new justice tips the scale --- it becomes political and the he'll with judicial justice}    

*** 'Rigging the Courts, the Supreme COURT!!!' ***

jmo   

Sat, 04/27/2013 - 10:53 | 3505403 ITrustMyGut
ITrustMyGut's picture

rather than tearing down small voices, even when only begginning to hit the mark..we should celebrate..

Is matt perfect here? no. But neither Mullins or Griffin will ever get this level of exposure. I suspect he went farther than the editors would have wished...

this piece is certainly closer to the mark than the theatrical, histrionic, misinformation the likes of beck or limbaugh..will ever produce.

so...lets think before we once again, attack a messenger that has the backbone to put just a bit more truth into the mainstream..

facts are this: the populace didnt become so tramatically programmed and propagandized over night.. we were subjected to decades of incremental obfuscation. The awakening process has to work equally incrementally, or we loose those that just might be the tiniest bit open to hearing the truth...

I celebrate matt's effort.. and Rolling Stone for publishing it...

Sat, 04/27/2013 - 11:37 | 3505477 therearetoomany...
therearetoomanyidiots's picture

I cannot celebrate a man who worked tirelessly to put the current political system in place.  Sorry. 

This is putting mud in the cracks after the levee breaks. 

Sat, 04/27/2013 - 10:57 | 3505409 quo vadis
quo vadis's picture

Goddammit, there must be an enclave of virtuous wise men somewhere who will allow me to safely trust in mammnon...

Is there no material place in this fallen cosmos to find genuine refuge and consolation?

Sat, 04/27/2013 - 11:47 | 3505446 hooligan2009
hooligan2009's picture

i hear that feeding chickens in the shower is good for an episode or two :>)

Sat, 04/27/2013 - 10:57 | 3505415 boogey_bank
boogey_bank's picture

Tyler,

in Your not so humble opinion,

the banksters cabal is actually able to fix the price of bitcoin?...

and when our society will finally implode will they be able to fix the price of lets local exchange and trading system?

Sat, 04/27/2013 - 11:24 | 3505459 DelusionalGrandeur
DelusionalGrandeur's picture

Lady Justice Is Fucking Dead And This Country Needs An Enema. I Just Don't Fucking Get It Anymore....Forget Throwing Offenders In Prison To Set An Example, Cut Their Fucking Heads Off In Public For the Rest Of This God Forsaken Planet To See...

Oh Yeah And Fuck You Bernanke, You Potus Cum Sucking Devil, You Should Be First At The Gallows.

Sat, 04/27/2013 - 11:35 | 3505478 WmMcK
WmMcK's picture

Better than shouting in all caps, but the Pascal casing is still annoying.

Maybe just upper the key words -- like "Fuck" and "Cum" ?

Sat, 04/27/2013 - 11:49 | 3505503 DelusionalGrandeur
DelusionalGrandeur's picture

It's A Stupid Setting On My Phone I Can't Figure Out...Believe Me It Pisses Me Off To No End! No Matter What I Do It Constantly Capitalizes The First Letter Of Every Word.

Sat, 04/27/2013 - 13:14 | 3505660 IridiumRebel
IridiumRebel's picture

minE doeS thE lasT letteR oF eacH worD....fuckinG annoyinG aS helL

Sat, 04/27/2013 - 12:32 | 3505602 joego1
joego1's picture

I think this stuff has been going on since the  begining of humanity. The difference now is that we have the internet to bitch about it.

Sat, 04/27/2013 - 12:52 | 3505621 earleflorida
earleflorida's picture

governments... and not central banks, control the treasury-- there has never been a truly independent central bank, period!

Sat, 04/27/2013 - 13:33 | 3505688 gwar5
gwar5's picture

Turnip trucks everywhere are in bewildered awe of you.

 

Sat, 04/27/2013 - 14:15 | 3505749 earleflorida
earleflorida's picture

and how is your tulip garden growing,... when an edible is just that-- in ones pouch? rather than a gullible fluff furrowing in a lowbrows empty register bin...

no, seriously... which came first-- the tulip or the turnip?

here's a hint... one can sustain you, and the other is for show and yet the one for show has purcahsing power if it is brought about to sustain oneself?

but all is in vain for the master owns all that is borrow'd upon... so let the rentier proxy gaggles be forwarned, that it is nein, that baggard's thy neighbor's poverty...

Sat, 04/27/2013 - 13:28 | 3505678 gwar5
gwar5's picture

Matt Taibbi is admitting Mel Gibson was right.

 

 

Useful idiot Matt Taibbi seems shocked! to discover that private bankers are not altruistic Fellow Travelers he was led to believe they were during all those cocktail parties. He's still a brain-dead, chickenshit enabler if he doesn't start going after them by name:  Blankfein, Dimon, Soros, Geithner, Greenspan, Bernanke, Obama, Holder, Paulson, etc.   

Let's get to work Matt.....

 

 

Sat, 04/27/2013 - 14:24 | 3505765 earleflorida
earleflorida's picture

dew drop inn... when you have purged your self-conTroll,...

stfu

Sat, 04/27/2013 - 13:58 | 3505641 ToNYC
ToNYC's picture

Science says all history is a rigged game we play and get played; the winners win their own life, the losers whine all day and night. Lifers hear it all later, since they heard it all before... what's left of the daily bsstory made for cashing today before its early expiration.

Sat, 04/27/2013 - 14:08 | 3505740 rosiescenario
rosiescenario's picture

Anyone purchasing SWAPS was damaged by the rate fixing, but since they "should'a known they were dealing with crooks, then there are no damages" .

 

I am coming to a better understanding of exactly why the DHS has seen the need to buy more ammo than our military on an individual basis....from our TBTF banks, to our Federal courts, to our elected officials all are crooked.

 

Tax payers might just get a bit upset when they find that their tax dollars bailed out these banks and paid the salaries of judges and elected officials also under the banks' control.

Sat, 04/27/2013 - 14:09 | 3505741 LetsGetPhysical
LetsGetPhysical's picture

YAWN. Wake me up when you name names and finger the current administration. Matt is another Obama dick sucker.  He talks endlessly about the "vampire squid" and somehow leaves out that the white house is filled with them.

Sat, 04/27/2013 - 14:20 | 3505758 earleflorida
earleflorida's picture

sorry,... but, we [i won't] don't shoot the messenger that bears fruit

Bravo Matt!!!

Sat, 04/27/2013 - 14:18 | 3505753 Atomizer
Atomizer's picture

Matt, it’s an accent old system that has been rebranded thru religion & the money changers. Your next article should outline solutions in coping with the root cause. Just advice.

 

Start here:

http://www.clubofrome.org/

Sat, 04/27/2013 - 14:27 | 3505770 ToNYC
ToNYC's picture

How to Kill an Algo. Think like an algo. I get my best fills in flash crashes. fill bell rings? cash out. rinse repeat. beat the band at ibkr. latwttb'kster

Sat, 04/27/2013 - 14:48 | 3505814 steelhead23
steelhead23's picture

"Famously, one Barclays trader monkeyed with Libor submissions in exchange for a bottle of Bollinger champagne, but in some cases, it was even lamer than that. This is from an exchange between a trader and a Libor submitter at the Royal Bank of Scotland:

SWISS FRANC TRADER: can u put 6m swiss libor in low pls?... 
PRIMARY SUBMITTER: Whats it worth 
SWSISS FRANC TRADER: ive got some sushi rolls from yesterday?... 
PRIMARY SUBMITTER: ok low 6m, just for u 
SWISS FRANC TRADER: wooooooohooooooo. . . thatd be awesome

Screwing around with world interest rates that affect billions of people in exchange for day-old sushi – it's hard to imagine an image that better captures the moral insanity of the modern financial-services sector."

Folks need to understand that criminal behavior, particularly successful criminal behavior, is addictive, probably more addictive than nicotine.  In short, seeking a profit motive in every decision in this sad tale is silly - yes, there was profit involved - for the Swiss franc trader - but old sushi was hardly the reward the primary submitter wanted.  He was hooked on the thrill of being able to provide someone else with a profit - a magical power - and the hope for good profit-making Karma.  Rehabilitation requires not just incarceration, but being forced to thoroughly review the real outcomes of his actions - unless he dies from eating rotten sushi first that is.

Sat, 04/27/2013 - 14:51 | 3505820 besnook
besnook's picture

isn't it ironic that people are so willing to accept "conspiracy theories" without question when money is involved but not when power(.gov) is involved even though everyone should realize money is power and power is money, one and the same.

 

Sat, 04/27/2013 - 16:05 | 3505976 Atomizer
Atomizer's picture

It is ironic schlock. Open your wallet, read the debt note statement. ‘This note is legal tender for all debts public and private’. Flip to the back, ‘IN GOD WE TRUST’.

 

So let me understand. I’m super rich if I should hold trillions of USD based on unpayable debt obligations. The Federal Reserve steps in to buy back the debt on dollars in circulation. When the valuation of USD is compromised with debt interest, the US Government asks for a stimulus program to offset compounded interest pay back. At the end of day, we calculate this as GDP?

 

In closing, those who hold the most money hold the least amount of liquidity. Why? The more debt notes they hold on unpaid debt requires more money to be injected into system to avoid devaluation/wealth deprivation.

 

Look forward to all constructive criticism..  

Sat, 04/27/2013 - 16:51 | 3506119 Winston Smith 2009
Winston Smith 2009's picture

Here's the basis of the entire scam in 9 minutes:

http://www.youtube.com/watch?v=Kwen2OoXLs0

Unfreaking believable, but completely true.

"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." --- Henry Ford

 

Sat, 04/27/2013 - 16:50 | 3506116 theprofromdover
theprofromdover's picture

And people are surprised there is a worldwide economic depression?

All that money being sucked out of the system into a derivatives circle-jerk.

 

Sat, 04/27/2013 - 17:43 | 3506285 Iam Yue2
Iam Yue2's picture

Nothing is what it seems. Nobody is who they seem.

Sun, 04/28/2013 - 01:10 | 3507005 bunnyswanson
bunnyswanson's picture

NothinsAsItSeems was my screen name during 9-11. 

Element of surprise is essential.  Had they gotten this far if it was announced?

"Attention American Shoppers, Investors, Workforce and Losers!  Your nations' wealth will be drained and then transferred via loans/investments into developing nations due to a workforce and retirement far too costly to rationalize.  It has been decided the plug will be pulled and your status will be eliminated over the course of a decade through a cull."

Thank you for your business, The Banks.

Sun, 04/28/2013 - 03:49 | 3507064 All Risk No Reward
All Risk No Reward's picture

Hi Matt,

WHO, exactly, do you think is the group that defined money as debt and own enough of the mega banks to control them?

Why would they stop at merely owning mega banks and not mega corporations of all types?

The Illuminati is the OWNER CLASS of which this man speaks...

George Carlin

https://www.youtube.com/watch?v=9dY4WlxO6i0

Sun, 04/28/2013 - 14:45 | 3507712 monad
monad's picture

I recall an interview MT gave when he was being applauded for the mortgage fraud piece. Paraphrasing, he stated that he's not in it to be martyred by TPTB like Casolero or Webb.
Take what you can get.
Good book: Cloak and Gown by R Winks
Don't blame me, I voted for Kodos.

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