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And Now The Fed Gets Dragged Into LiEborgate

Tyler Durden's picture




 

As was first reported two days ago, and confirmed today, Barclays' natural response to allegations it single-handedly manipulated the interest rate complex for up to $500 trillion notional in IR-sensitive swaps and other products (it didn't - everyone else did it too), was to drag everyone into the scandal, starting off with the Bank of England (and about to drag Whitehall into it too), and specifically the man who was next in line for governorship of the English Central Bank: Paul Tucker. What does this mean? Well, as we suggested also two days ago, now that the natural succession path at the BOE has been terminally derailed, it brings up those two other gentlemen already brought up previously as potential future heads of the BOE, both of whom just happened to work, or still do, at... Goldman Sachs:  Canada's Mark Carney or Goldman's Jim O'Neil. Granted both have denied press speculation they will replace Mervyn King, but it's not like it would be the first time a banker lied to anyone now, would it (and makes one wonder if this whole affair was not merely orchestrated by the Squid from the get go... but no, that would be a 'conspiracy theory'.) Yet the fact that Goldman is hell bent on global domination by stretching its tentacles into every monetary policy administration is no secret: it is only a matter of time before GS also runs the English CTRL-P macros. More interesting is that in addition to the BOE, Barclays today also dragged America's very own Federal Reserve into the fray.

From MarketWatch:

Barclays also said in the document that the lender believed other banks were making Libor submissions that were too low during the credit crunch. “The evidence shows that the intent was to protect Barclays from the unfounded negative perceptions by bringing Barclays Libor quotes closer to the pack but not to affect the ultimate rate,” the bank said.

 

Barclays also cited subsequent research by the New York Federal Reserve staff members that, according to the lender, concluded that banks’ Libor quotes were systematically below their borrowing rates by 39 basis points after the Lehman bankruptcy. “Barclays own submissions for tenors of 1 month to 1 year Libor were higher than actual Barclays trades on 97% of the occasions when Barclays had actual trades during the financial crisis,” the lender said.

Translating the bolded: the Fed knew all along that Barclays self-reported levels were impossible. And did nothing. Which of course was not an issue until 2 days ago. Now that heads are rolling, it is.

So we wonder: will the captured and corrupt congressional critters even pretend to have the guts to escalate LiEborgate on US soil, where the real bodies are buried, or will everyone continue to tiptoe around the issue, hoping it just blows off on its own? If the latter, look for many new and exciting $0.99 apps to hit the iTunes store in the next 12-24 hours. After all must keep the fat, lazy, easily distracted muppets, occupied with cool retina displays and even cooler games where stuff happens fast without draining the battery for hours.

 

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Tue, 07/03/2012 - 13:19 | 2584415 Colombian Gringo
Colombian Gringo's picture

Banksters of the world unite! You have nothing to lose but your heads.

Tue, 07/03/2012 - 13:22 | 2584427 SilverTree
SilverTree's picture

OH PLEASE PLEASE PLEASE PLEASE PLEASE PLEASE PLEASE PLEASE PLEASE PLEASE PLEASE PLEASE PLEASE PLEASE PLEASE PLEASE!

Tue, 07/03/2012 - 13:35 | 2584498 camaro68ss
camaro68ss's picture

Once these contracts are found to be illegal, by law they are null and void instantly.

so what happens next?

Tue, 07/03/2012 - 13:40 | 2584519 Comay Mierda
Comay Mierda's picture

LAWSUITS GALORE

Tue, 07/03/2012 - 13:41 | 2584531 camaro68ss
camaro68ss's picture

wouldnt you have a CDS event instently?

 

i guess not because its not happening

Tue, 07/03/2012 - 13:48 | 2584544 Comay Mierda
Comay Mierda's picture

no credit event, just barclays and cohorts sold swaps to everyone and their mother pitching higher interest rates, then manipulated rates even lower to pocket profit.

when will muppets learn? whatever the banks recommend, ALWAYS do the opposite

Tue, 07/03/2012 - 14:00 | 2584612 derek_vineyard
derek_vineyard's picture

someone get the broom...ill hold up the rug

Tue, 07/03/2012 - 14:51 | 2584818 sunaJ
sunaJ's picture

I love the defense coming out of Barclays:  During the height of the credit crunch, Barclays ordered its inner-circle to manipulate the Libor lower (You see!  It wasn't OUR fault, we were told to do it by the BoE). 

 

It is not difficult to see that the cheap credit and graft were had earlier, and profits already in corporate salaries.  ONCE THE CREDIT MARKET WAS BROKEN, banks started ratcheting up credit and were asked not to by BoE.  This is because we were in a credit crisis brought on by much of the very fraud of which we speak.  Once again, government is late to the party and no enforcement was even in sight.   Gotta love the scapegoating game when it gets down to brass tacks, though.

Tue, 07/03/2012 - 14:56 | 2584845 Mark Carney
Mark Carney's picture

It's all a lie, do not believe them.

 

-Mark

Tue, 07/03/2012 - 21:22 | 2585741 disabledvet
disabledvet's picture

i am surprised they didn't say "why are you blaming just us when we all are doing it" myself. that's normally how these things go down. anywho what's going on is truly "Out of the Box"..and has been for some time. ANYONE who says or implies otherwise is a simpleton. The question that should be asked of course is "who get's the higher rate"? So far it's been Greece, Ireland and Portugal. Now it is (or isn't?) Spain. Is it Italy? Is it Belgium? How about Hungary? You can blame fractional reserve banking all you want...but the real problem is the breadth and depth of US capital markets is it not?

Wed, 07/04/2012 - 03:50 | 2586175 The Big Ching-aso
The Big Ching-aso's picture

 

 

This is all nothing a brand new shiny pair of prez cufflinks on t.v. couldn't fix.

Tue, 07/03/2012 - 23:18 | 2585924 Al Gorerhythm
Al Gorerhythm's picture

Not if the ISDA has anything to say about it.

Wed, 07/04/2012 - 00:48 | 2586043 dolce vita
dolce vita's picture

A; owes B

B; owes C

C; owes A

A; "where the hell did C go ? they owe me for this CDS , cuz i owe B......."

Notice that faint wiff?................Shit now hitting the perverbial fan.

Tue, 07/03/2012 - 14:14 | 2584676 knukles
knukles's picture

Maybe no direct CDS events...

But what about all the floating rate notes set off of LIBOR?
That was manipulated downwards.
All them holders of them notes had coupons that were fraudently set tooo law, depriving them of their rightful income.

Which means in many structured deals (CDOs, etc) many floaters did not generate the income necessary to pay the coupons on the senior/junior/sub, etc notes what may indeed have led to income deficiencies, events of default and liquidations of deals.... and many people HURT!

I don't mean to open up a hornet;'s nest or anything

Quick!
Go buy some CDS on the folks writing Barclay's D&O and E&O insurance!

 

Tue, 07/03/2012 - 14:30 | 2584757 Liquid Courage
Liquid Courage's picture

Heh, heh ... he said "floaters".

 

Not sure if accidental, but nice imagery there.

a) back in the day knew a girl who worked part-time at Woolworth's. Part of the daily pre-opening routine was to remove all the "floaters" from the 25 cents/fish Goldfish tank. Nice.

b) next to an actual drowning, the worst thing that can ruin a Lifeguard's day is for someone to launch a "floater" into the pool. Better.

Tue, 07/03/2012 - 15:51 | 2585005 macholatte
macholatte's picture

 

 

My all time favorite floater.......

 

Caddyshack

http://www.youtube.com/watch?v=TPxiXGr9nFM&feature=related


Tue, 07/03/2012 - 16:57 | 2585223 ToNYC
ToNYC's picture

The Salomon Brothers Treasury bid-rigging scandal in 1988 brought down the house. This LIeByOurRates was everyday love in Financial Engineering. There is no engineering in a gamed engine; it exists to lie and steal and performed by acting like a judge to fool the stupid humans who think they are going to give their money to the nice man or woman who will come back with more for you.

Tue, 07/03/2012 - 13:41 | 2584520 Kitler
Kitler's picture

That's easy... I would just get some new and better judges to declare them legal again.

Tue, 07/03/2012 - 13:44 | 2584539 EscapeKey
EscapeKey's picture

They won't be. Not in a million years.

Foreclosuregate was an example of systemic corruption. And the net result? Oh if we pay $40bn, of which you give us $30bn, we'll brush it under the carpet and act as if nothing happened.

I mean, fuck me, if a peanut-sized $10bn fine is the net result of an issue the size of foreclosuregate, then why even pretend there's any kind of regulatory oversight?

Tue, 07/03/2012 - 14:13 | 2584674 dark pools of soros
dark pools of soros's picture

and where do those 'fines' actually go??  any % allocated to victim compensation?? Thieves robbing from thieves

Tue, 07/03/2012 - 14:15 | 2584690 EscapeKey
EscapeKey's picture

They will no doubt go straight into the coffers of the Treasury, helping to "bridge" the deficit, thereby "helping us all" (especially those on bidless government contracts).

Tue, 07/03/2012 - 15:03 | 2584858 shanearthur
shanearthur's picture

Captured my feelings exactly. I've learned a boatload reading this site the last six months, but even without that knowledge, I suspected the whole damn system was corrupt beyone repair. Now I know beyond doubt it is.

Tue, 07/03/2012 - 13:46 | 2584551 MsCreant
MsCreant's picture

I kept asking this about everything associated with real estate. All dem loan was given on false pretense. All dem houses was sold on false pretense. All dem loans was sold into MBS on false pretense. All dem taxes went unpaid under dem false pretense. None of dem is null or void, or so it seems.

Tue, 07/03/2012 - 14:18 | 2584706 CalibratedConfidence
CalibratedConfidence's picture

Two words:

Litigation arbitrage

Tue, 07/03/2012 - 13:22 | 2584429 Popo
Popo's picture

It would seem that Bernanke is guilty of fraud.

(again).

Tue, 07/03/2012 - 13:46 | 2584546 CPL
CPL's picture

Same thing will be done to curb the excesses of the system as the last time.

Tue, 07/03/2012 - 13:48 | 2584562 MsCreant
MsCreant's picture

It would seem you can't be a banker and be innocent of fraud.

Tue, 07/03/2012 - 13:58 | 2584604 t_kAyk
t_kAyk's picture

Sure you can, I see these banksters every day, strolling around all free and easy doing gods work. 

Tue, 07/03/2012 - 13:59 | 2584608 strannick
strannick's picture

Or be a banker and convicted of fraud

Tue, 07/03/2012 - 13:51 | 2584579 knukles
knukles's picture

Nah.
He can just plead ignorance.

Tue, 07/03/2012 - 14:09 | 2584661 CheapBastard
CheapBastard's picture

"There's never one roach."

 

Tue, 07/03/2012 - 13:22 | 2584432 gmrpeabody
gmrpeabody's picture

Relax..., Eric Holder is on it. Er... huh..., nevermind.

Tue, 07/03/2012 - 13:31 | 2584476 SilverTree
SilverTree's picture

You mean, in it.

Tue, 07/03/2012 - 13:38 | 2584518 Bob
Bob's picture

No doubt Issa has been salivating over the chance to link Holder to something like this. 

Or not.  He knows his masters. 

Tue, 07/03/2012 - 13:42 | 2584536 Debt-Penitent
Debt-Penitent's picture

Meh, the Puppet Of The United Status-Quo already has all the culprit's names filled into the next Presidential Directive form. 

He just needs a date when it won't look so obvious.

Tue, 07/03/2012 - 14:03 | 2584632 Mesquite
Mesquite's picture

He is in something...and it smells...

Tue, 07/03/2012 - 14:01 | 2584619 Xibalba
Xibalba's picture

QUICK!!! Media Blackout!

Tue, 07/03/2012 - 13:24 | 2584433 Dr. Richard Head
Dr. Richard Head's picture

So perhaps the mass arrests of the banking cabal that have subjegated the world's population in debt/tax servitude will comence and the guilty finally be held accountable?  That, I am going to be voted to the seat of POTUS tomorrow.

Tue, 07/03/2012 - 13:29 | 2584461 Widowmaker
Widowmaker's picture

Not even a chance.

The solution is new money, and new money institutions from top to bottom.

If you are a banker you will be lucky to live.

Tue, 07/03/2012 - 13:47 | 2584557 Debt-Penitent
Debt-Penitent's picture

The solution is new money, and new money institutions from top to bottom.

If you are a banker you will be lucky to live.

What?

You must be on drugs!

You and who's Army will implimenmt that?  I assure you, the current current military WILL defend the current financial institutions...upto and including...

Tue, 07/03/2012 - 13:51 | 2584575 Debt-Penitent
Debt-Penitent's picture

Never forget:
The financial districts fund policy.
Policy sets agendas.
Agendas set political directives.
Political directives always are fulfilled by military might.

Tue, 07/03/2012 - 15:12 | 2584882 Conchy Joe
Conchy Joe's picture

The New Pledge of Allegiance...

 

Tue, 07/03/2012 - 21:26 | 2585747 disabledvet
disabledvet's picture

name one that is being funded by them currently.

Tue, 07/03/2012 - 13:24 | 2584440 Divided States ...
Divided States of America's picture

This is effin unbelievable.

Libor - rigged

NBA Draft - rigged (New Orleans getting 1st overall pick)

Lottery Draws - rigged

Stock market - rigged

FX rates - most likely rigged

Holy fuck, tell me what isnt rigged these days.

 

Tue, 07/03/2012 - 13:26 | 2584447 surf0766
surf0766's picture

Welcome to Amerika. All your rigs belong to us.

Tue, 07/03/2012 - 13:28 | 2584456 The Gooch
The Gooch's picture

All your rigs are belong to us!

fify

Tue, 07/03/2012 - 13:34 | 2584495 surf0766
surf0766's picture

I am new to this country . PLease excuse my marx.

Tue, 07/03/2012 - 13:47 | 2584559 CPL
CPL's picture

It's all left Engels to the rest of us.

 

<rimshot>  Little commie humour for tuesday.

Tue, 07/03/2012 - 15:39 | 2584980 francis_sawyer
francis_sawyer's picture

US Justice Dept... nigged... Oh wait!... (PS... I love "junks")...

Tue, 07/03/2012 - 13:37 | 2584512 walküre
walküre's picture

I tell you what is not rigged.

My hog and beef production is not rigged. The animals wouldn't live another day if I started feeding them derivatives. They need the real stuff.

So tell me, why are we still accepting derivatives in exchange for our hard days work?

I'd like to be paid in real stuff for my real wares because they eat and shit for real and they really feed you. Unless your veggie then I can fix you up with some real corn as well.

You get what I'm saying?

Tue, 07/03/2012 - 13:50 | 2584573 MsCreant
MsCreant's picture

For real!

Tue, 07/03/2012 - 14:01 | 2584599 hedgeless_horseman
hedgeless_horseman's picture

 

 

My hog and beef production is not rigged.

Your hog and beef production may not be rigged, because these days it is hard to fool the scale.*  However, hog and beef futures, sales, processing, distribution, and retailing are all rigged to high heaven.

Disintermediation, bitchezzz!!!

 

*In ye olde tymes, fooling the scale is exactly how hog and beef production was rigged.

Tue, 07/03/2012 - 14:05 | 2584639 Marginal Call
Marginal Call's picture

I don't know.  All them cows that get fed distillar's grain, that seems kind of rigged to me. 

Tue, 07/03/2012 - 14:16 | 2584698 silverserfer
silverserfer's picture

Silver would be a good exchange for you.

Tue, 07/03/2012 - 14:20 | 2584716 strangeglove
strangeglove's picture

Stuff them with
Tungstun Bitchez then serve!

Tue, 07/03/2012 - 14:54 | 2584833 whatsinaname
whatsinaname's picture

Reminds me of a Design & Manufacturing conference I attended in Chicago recently - entry fee 55 bucks. Right across the hallway was a Morningstar Investment conference - entry fee 975 bucks. Enough said.

Tue, 07/03/2012 - 15:28 | 2584951 Bunga Bunga
Bunga Bunga's picture

Burgers are rigged too. Think of the Pink stuff.

Tue, 07/03/2012 - 14:08 | 2584651 Lofty
Lofty's picture

Don't see too many old sailing vessels around these days

Tue, 07/03/2012 - 15:27 | 2584948 Miss Expectations
Miss Expectations's picture

My brother-in-law was an All American soccer player.  The olympic team selection is rigged, too.

Tue, 07/03/2012 - 16:32 | 2585131 Stoploss
Stoploss's picture

FX rates most definitely rigged.

Storms on Jupiter is all i got on no rigging.

 

Im not even sure of that either..

Tue, 07/03/2012 - 13:41 | 2584529 twocents
twocents's picture

Procrastinators of the world unite! ...... Later

Tue, 07/03/2012 - 13:54 | 2584590 t_kAyk
t_kAyk's picture

Dyslexic's of the world, untie!!

Tue, 07/03/2012 - 13:46 | 2584550 runlevel
runlevel's picture

I just keep reminding myself that the italians got their day with mussolini. Someday we will too. Bernankini? 

Tue, 07/03/2012 - 14:14 | 2584683 Stuart
Stuart's picture

nothing is going to come from this.   C'mon, we all know they're all (including central bank execs) on the phone as we speak/type trying to figure out a way to deep six this whole issue so it's forgotten about in the press's 12 second memory span. 

Tue, 07/03/2012 - 14:41 | 2584797 The Gooch
The Gooch's picture

Hello General, It's Bennie...

Tue, 07/03/2012 - 16:58 | 2585225 ZeroAvatar
ZeroAvatar's picture

That's right, just lay low, like Conzine.  It'll all blow over!

Tue, 07/03/2012 - 14:24 | 2584736 Imminent Collapse
Imminent Collapse's picture

"Every normal man must be tempted at times to spit on his hands, hoist the black flag, and begin slitting throats."  - H.L. Mencken

Tue, 07/03/2012 - 14:57 | 2584848 t_kAyk
t_kAyk's picture

Mencken has some good ones... 

"All men are frauds. The only difference between them is that some admit it. I myself deny it. "

"A good politician is quite as unthinkable as an honest burglar."

"All government, of course, is against liberty."

Tue, 07/03/2012 - 15:02 | 2584857 resurger
resurger's picture

aha! Kosher Style...

Tue, 07/03/2012 - 16:33 | 2585135 The trend is yo...
The trend is your friend's picture

It is so Surreal.  How does one stop the squid when it can regrow it's limbs

Tue, 07/03/2012 - 13:19 | 2584418 Troll Magnet
Troll Magnet's picture

Bullshit!  I don't believe it!  I refuse to believe it!  Ben Bernanke is a good man!  There's no way he'll do something like this.  I mean...He went to Princeton, didn't he?  

Tue, 07/03/2012 - 13:27 | 2584450 EscapeKey
EscapeKey's picture

Well, that's the thing.

Head over to student-occupied Reddit, and you'll find tons of Keynesian economics students who, though they willingly bash bankers and their complete lack of morals, but at the same time will defend the BLS, the CFTC, and the Fed to the bitter end.

Completely ignoring that it's the same people in those institutions. But somehow, the second someone goes to the Fed they are beyond criticism.

Tue, 07/03/2012 - 14:09 | 2584655 CPL
CPL's picture

lol, Reddit.

 

 

Tue, 07/03/2012 - 15:15 | 2584900 Carl Spackler
Carl Spackler's picture

The song remains the same...Power corrupts. Absolute power corrupts absolutely.

Those Princeton Keynesian phonies just want to be associated with the absolute power, so they pick a side in the game. Keynesian philosophy relies upon [corrupt] central control to function.

The better alternative to corruption is broader decentralization of power and structures. 

The problem, however, is that the muppets and American Idol junkies of the world cannot act responsibly, so they want to be controlled by a centralized and absolute power center. (Maybe, it is better to declare "sink or swim" time and go from that point forward.)

Anyway, such is where we are at today.

Tue, 07/03/2012 - 13:49 | 2584567 CPL
CPL's picture

Does anyone think the situation would have been different if he attended Harvard?  lol!

Tue, 07/03/2012 - 13:57 | 2584601 Troll Magnet
Troll Magnet's picture

Yes!  If he went to Harvard, he would be even honester than he already is.  Like Larry Summers, Obama and all of them good guys.

Tue, 07/03/2012 - 14:03 | 2584633 CPL
CPL's picture

"Honester"

Now a verb.  You should copyright that and sell it like it bacon wrapped steak.  Politicians seeking reelection would owe you a buck every lie that falls from their lips.  You would be the first billionaire in under a week and I'm being conservative with the billion.

 

 

Tue, 07/03/2012 - 14:02 | 2584627 EscapeKey
EscapeKey's picture

Well, perhaps he'd then have studied economics textbooks the result of Carnegie-funded think tanks rather than Rockefeller-funded think tanks.

Tue, 07/03/2012 - 14:08 | 2584652 CPL
CPL's picture

Either or a half a dozen of the same.

 

Princeton, Harvard, Yale...rich kid babysitting services and employment deferral services.

Tue, 07/03/2012 - 14:19 | 2584714 knukles
knukles's picture

But he never worked for Goldman....

 

Tue, 07/03/2012 - 13:20 | 2584420 Lost Wages
Lost Wages's picture

"Goldman Sachs rules the world."

-Alessio Rastani

Tue, 07/03/2012 - 13:22 | 2584428 THX 1178
THX 1178's picture

I think he got his stuff from Kiyosaki.

Tue, 07/03/2012 - 13:26 | 2584445 Unprepared
Unprepared's picture

That clip would definitely feature in the "Why the fiat system collapsed?" documentary.

Tue, 07/03/2012 - 13:23 | 2584422 jomama
jomama's picture

oh what a tangled web we weave when first we practise to deceive

Tue, 07/03/2012 - 13:21 | 2584424 WALLST8MY8BALL
WALLST8MY8BALL's picture

Deerhoof - "I Did Crimes for you"

This is a stick-up! This is a stick-up!
Smash the windows! Smash the windows!
The people are wrong!
The leader is strong!
Guerilla surrender
I did crimes for you they're coming true
I did crimes for you they're coming true
I did crimes for you you're coming too
Smash the windows! Smash the windows!
People leader guerilla! People leader guerilla!
I did crimes for you they're coming true
I did crimes for you they're coming true
I did crimes for you you're coming too
This was a stick-up! This was a stick-up!

 

Tue, 07/03/2012 - 13:31 | 2584475 EscapeKey
EscapeKey's picture

Yeah no fucking shit. They are all controlled by the BIS, who in turn, is controlled by the central banks.

So of course they they have "well-established relationships" with other central banks. They are one and the same.

Tue, 07/03/2012 - 15:13 | 2584891 samsara
samsara's picture

 

The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent private meetings and conferences."                                                                                                                                               

"The apex of the system was to be the Bank for International Settlements in Basle, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank . . . sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."                                    -- Carroll Quigley, "Tragedy and Hope", 1966, pg 324

 

 

 

 

Tue, 07/03/2012 - 16:24 | 2585106 EscapeKey
EscapeKey's picture

One of the best books I ever read.

Also, I can recommend "Diamonds, Gold, and War", which largely concurs with Quigley, in the sense that Rhodes was definitely into setting up his secret society. Also an eye opener; I did not know that the British were the inventors of concentration camps (2nd Boer war). But hey, it was only bad when Hitler did it.

http://www.amazon.co.uk/Diamonds-Gold-War-Making-Africa/dp/1416526374/ref=pd_sim_b_1

Tue, 07/03/2012 - 17:13 | 2585264 newworldorder
newworldorder's picture

RE: Samsara:

 Quietly, ever so quietly - Quigley's words have come to pass as in the US , most of the population does not know much if anything about the BIS, Central Banks, various trade agreements, Euro zone, History, Politics or Geography.

 They know even less about the invented rich uncle from Mars called the FED with its endless supply of created money, available to bail out any private or government entity in need on any continent.

 The vast fortunes of the late 19th and most of the 20th centuries have been passed down to families, foundations, trusts, think tanks and academic institutions. The new world order ideas of British and American robber barrons are embedded in the thinking of the elite and financially powerful sitting at the controls of power in political, academic and financial circles.

 Good luck to us all.

Tue, 07/03/2012 - 13:24 | 2584438 Widowmaker
Widowmaker's picture

The Fed is a fraud circle-jerk in a box.  Manipulate and masterbate.

The definition of unsound money is in elitist hands.

Corporations before people - unsustainable.

 

 

Tue, 07/03/2012 - 13:36 | 2584500 eclectic syncretist
eclectic syncretist's picture

The Fed is a creation of the government designed to end run the constitution.

Tue, 07/03/2012 - 13:32 | 2584442 Harnar
Harnar's picture

.

Tue, 07/03/2012 - 13:26 | 2584446 The Gooch
The Gooch's picture

MUTINY ALAS!!!

Tue, 07/03/2012 - 13:27 | 2584449 fuu
fuu's picture
We sat around the pile.
We sat and laughed.
We sat and laughed and
Waved it into the air!
And we did it just like that.
When we want something,
We don't want to pay for it.
Tue, 07/03/2012 - 13:29 | 2584462 The Gooch
The Gooch's picture

Comin' down the mountain!

Tue, 07/03/2012 - 13:38 | 2584515 WALLST8MY8BALL
WALLST8MY8BALL's picture

My girl, she's one too!

Tue, 07/03/2012 - 13:27 | 2584453 Itch
Itch's picture

It makes you wonder, would we have got to this point without the blogosphere? Would the FT have dared to get the ball rolling? Me thinks not. Shits' getting interesting.

Tue, 07/03/2012 - 13:27 | 2584454 moskov
moskov's picture

Does that mean US T-Bills are also being Lie-broed ?

Tue, 07/03/2012 - 13:52 | 2584580 hidingfromhelis
hidingfromhelis's picture

Don't LIBOR me, bro!

Tue, 07/03/2012 - 13:28 | 2584457 PaperBear
PaperBear's picture

Up the food chain, munch, munch.

Tue, 07/03/2012 - 13:29 | 2584465 Inthemix96
Inthemix96's picture

Come on boys and girls, let the shooting comence.

Two silver eagles for a bullet in dimons head.  Any takers?

Tue, 07/03/2012 - 13:36 | 2584503 Vuke
Vuke's picture

Inthemix96, read your post again and think about it. Waterboarding is the least of your worries.

Tue, 07/03/2012 - 13:39 | 2584522 camaro68ss
camaro68ss's picture

drone strike on Inthemix96 in 3...2....1

Tue, 07/03/2012 - 14:07 | 2584646 Inthemix96
Inthemix96's picture

Satire my good man, satire.

It must be my English sense of humour mate.  And by the way friend, fuck NSA and GCHQ, yous boys give them far too much credit.

They couldnt organise a piss up in a brewery, trust me, I have had a fair few few run ins with her majestys finest here, and I can say in all honesty shit has better standards and procedures.

And anyhow, I never posted that, it was my evil follwer who is trying to discredit my love of central bankers.

And to the watchers out there.  Come on then, come get some.  You seem to be a little out numbered.

Tue, 07/03/2012 - 14:33 | 2584770 EscapeKey
EscapeKey's picture

I heard of some idiots getting "visits" by England's finest for posting antisemitic comments on Facebook:

http://www.jewishjournal.com/sci-tech/article/scottish_police_arrest_6_over_anti-semitic_facebook_page_20120517/

Free speech, as long as you agree with us.

Tue, 07/03/2012 - 14:51 | 2584827 LULZBank
LULZBank's picture

Sorry mate, cant upvote you.

Tue, 07/03/2012 - 14:54 | 2584836 magpie
magpie's picture

In fact, you only need to run riot. Or bore your minders to death. Whatever suits you best.

Tue, 07/03/2012 - 15:32 | 2584963 Victorio
Victorio's picture

Wow.

Could you do us a favor and post a bit in the future.

Just curious on how you will be faring in the next few days.

Cheers

 

Tue, 07/03/2012 - 13:29 | 2584466 midgetrannyporn
midgetrannyporn's picture

The fed is a larcenous criminal organization. Lying is a way of life for a joo banker.

Tue, 07/03/2012 - 13:29 | 2584468 Plymster
Plymster's picture

4th of July.  Nice day for a revolution.

Tue, 07/03/2012 - 13:53 | 2584585 CPL
CPL's picture

http://www.astro.com/nat/natus2_e.htm

 

Or the end of an era according to star charters.

Tue, 07/03/2012 - 23:32 | 2585953 Cathartes Aura
Cathartes Aura's picture

for what it's worth, your link is to one of the few astrologers I respect, Liz Greene (UK).

and she doesn't give the dates of Pluto opposing amrka's Sun, nor the Pluto return - a few years out yet, but there's still plenty of "potential" in the aspects as they apply (move towards exactitude).

Pluto archetype is to burn back the fields (old, dead) leaving a fallow period for reflection prior to implementing a new planting (what is dead provides fertile soil for rebirth).

RIP, after the fire.

 

Tue, 07/03/2012 - 13:32 | 2584478 paint it red ca...
paint it red call it hell's picture

Ron Paul and Campaign for Liberty audio update on the audit the fed bill HR 459

 

http://chooseliberty.org/auditrphf3.aspx?pid=0703

Tue, 07/03/2012 - 13:32 | 2584479 PaperBear
PaperBear's picture

The banksters balls in a vice being crushed without mercy.

Tue, 07/03/2012 - 13:33 | 2584486 third world
third world's picture

i pray for oneil in boe, because, at least, we won't have to read how were his last trips around the world and his well-based opinion about the real world ...

Tue, 07/03/2012 - 13:33 | 2584487 PaperBear
PaperBear's picture

Will it get kicked upstairs to the Bank for International Settlement ?

Tue, 07/03/2012 - 13:33 | 2584489 rsnoble
rsnoble's picture

I always heard that when tshtf there'd be a lot of finger pointing going on. They'll wear them fingers out just like the can has been vaporized.

Oh and look..........the hft's have successfully blasted thru resistance on bullshit volume again. HUGE SURPRISE!!!! Not!
It's ok, the real resistance line is coming up shortly, all too easy to reach on a holiday week. No fireworks till after the 4th sorry.

Tue, 07/03/2012 - 13:35 | 2584496 Central Wanker
Central Wanker's picture

The dark core of counterparty risk starts surfacing. If you're dealing with a banker, you're dealing with a liar.

This might be bullish for gold. Just might :-)

Tue, 07/03/2012 - 13:36 | 2584499 SmoothCoolSmoke
SmoothCoolSmoke's picture

I still thnik 7/9 is the start of the slide to 1170.  EU stiill FUBAR, bad earnings start rolling in.  Slide continues right to the start of...... yep, Jack-ass-son Hole, and QE3. 

Tue, 07/03/2012 - 13:37 | 2584507 Benjamin Glutton
Benjamin Glutton's picture

Most GOP only interested in being fascist and furious...

 

 

95% of the rest of congress only interested in covering their own ass.

 

 

Once again the FED RES has violated their charter by participating in an ongoing criminal conspiracy.

Tue, 07/03/2012 - 13:48 | 2584563 francis_sawyer
francis_sawyer's picture

color me shocked...

Tue, 07/03/2012 - 13:37 | 2584509 AlamoJack
AlamoJack's picture

Idle not all ye Bankers Rastafarin.  The tribal wolves are headed down your alley salivating and wide eyed as they howl for your reckoning.  Swim quickly and desparately my salmon bankers.  Swim, swim ye swindlers of old, like the salmon heading upstream.

Tue, 07/03/2012 - 13:39 | 2584517 twocents
twocents's picture

Over my dead body GS control the BofE.

Tue, 07/03/2012 - 14:01 | 2584621 Inthemix96
Inthemix96's picture

Cough cough,

Dead, meet body.

Tue, 07/03/2012 - 14:13 | 2584681 centerline
centerline's picture

my god, a zombie posting on ZH!

Tue, 07/03/2012 - 13:39 | 2584521 LawsofPhysics
LawsofPhysics's picture

Let's see, aren't there a number of dead men that have pointed the finger at the Federal Reserve?

Will this time be any diferent?

Tue, 07/03/2012 - 14:14 | 2584684 Mesquite
Mesquite's picture

And two Presidents...

Tue, 07/03/2012 - 13:40 | 2584526 caimen garou
caimen garou's picture

oh what tangled webs the fools weave!

Tue, 07/03/2012 - 13:46 | 2584527 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Where is Lizzy360, the Zero Hedge contributor, to once again defend Mark Carney, the Bank of Canada, and also the science of economics, finance, and possibly the Bank of England and Goldman Sachs?  Is she furiously writing an article for Tyler Durden, who likely is painstakingly wading through the equity bears horrible calls to boost his ratings?

Or maybe he is on a conference call with Mike Krieger, the newest member of his blogroll.  What a great blogroll Tyler!  The most popular blogs out there!  Good thing you are so focused on content, and not blog hits!  Good thing you have defended those that actually have real ideas instead of propping up schills and liars like Biderman and Max Keiser.

Hey here is an idea!  Maybe if we all buy silver, we could crash JPM! 

Or maybe if we focus on the clowns and their big shoes we can get popular, because that matters.

Tue, 07/03/2012 - 14:01 | 2584616 MsCreant
MsCreant's picture

Mr. Lennon Hendrix,

I adore you.

You have let some venom poison your soul just a tinge. You can heal from this. You are too smart. Do not be divided from us or we WILL be conquored. And they will laugh at us as we bicker over the scraps of honor, status, etc., while they pocket our treasure.

Tyler may be after blog hits, but that is his job. The message has to get out, things can get a little yellow and hyperbolic at times while that is going on. I have peace with that because there is the comment's section (and fight club) where this shit can get worked out, in public.

Peace my brother man.

Tue, 07/03/2012 - 14:17 | 2584704 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Thx Ms,

I understand this may seem out of context.  Yet where is this blog going when Central Bank apologists get to contribute because they are in finance, the only articles are from stock bears, the only people on the blogroll are there due to their popularity, and content matters not.

SInce you mention the word war, what type of war is Zero Hedge fighting when we belittle the people of the world like Tyler did above, yet do not focus on ways to take down the system.  Do you not remember the conversations we had about buying silver to crash JPM, here on the blog over two years ago?  How is it that Zero Hedge has remained silent all this time about that?  How is it that Tyler let's Keiser lie about the idea?  How is it that Krieger, the one who Keiser says told him about the idea, gets to post his dribble, when we could have already taken down the system. 

We could have already focused our attention to take down the system, but instead we sit in chairs just like the muppets but instead of watching The Bacholerette we watch Biderman tell us how much money he made of of facebook in one breath and then tell us of the coming deflation in the next.

What happened to Project Mayhem?  Where did the dream go?

Tue, 07/03/2012 - 14:29 | 2584753 tip e. canoe
tip e. canoe's picture

"Already the foreboding sky grows dark and silent!"

--Renzo Novatore Arcola, January, 1920

Tue, 07/03/2012 - 15:38 | 2584978 Miss Expectations
Miss Expectations's picture

Here's a slide show of the approaching storm clouds that hit my neck of the woods on 7/1.  They match how I've been feeling and it was very scary:

http://www.wect.com/slideshow?widgetid=56769

Tue, 07/03/2012 - 14:13 | 2584679 chinaguy
chinaguy's picture

Jeeze LH take a breath...this financial blog, like most, got about 3-4 months before the mouth breathers took over & the traders went elsewhere to find content...actually, this blog got about 6 months because it wouldn't dummy down it's commentary - forcing many to either educated themselves to the new terminology or go back to reading Yahoo Finance or Business Insider...

At least ZH is still on top for spotting trends months ahead of MSM.

So, stop crying over split milk & stop posting after drinking too much.

Tue, 07/03/2012 - 14:20 | 2584718 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

chinaguy, get fucked.  You act like having a blog sell out isn't a big deal, which is exactly the problem.  'Oh, what eva, we sold out, but we still spot trends'.  Way to go.  You get a cookie.

This is, or maybe, was, Fight Club.  Remember?

This is where we figured shit out.  This is the place the Buy Silver - Crash JPM was organically created.  Now it is a popularity contest of bears and Central Bank apologists.

Tue, 07/03/2012 - 14:47 | 2584815 dark pools of soros
dark pools of soros's picture

are you just fucked that you went all in on silver @$38 or something??

you talk about figuring things out but only pony up the buy silver plan.   you can't break manipulation by just buying physical.. they can go paper leverage 1 to trillions, it doesn't matter. 

You want answers?  send your regards to Gaddafi.  He had them, lived them, and died for them

 

http://www.youtube.com/watch?v=rzyZJWDCs4I

 

 

Tue, 07/03/2012 - 14:58 | 2584844 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

There is easily enough fiat to take all the silver off of the shelves.  We should organize a silver bomb and all go buy as much silver bullion as we can on the same day.  $28 is a great price to do it at.

We would strip JPM of their naked shorts, put massive weight against the dollar, and take back the money supply in one fell swoop.

I will be buying on July 13th.  Join me, take down the fiat system that enslaves us all.

BUY SILVER!

Tue, 07/03/2012 - 20:29 | 2585666 putaipan
putaipan's picture

and if maxk pics this up and runs with it (stacy? hint.hint) and credits zh we'll all shed a collective tear you are not acknowledged for it. sheesh-

Tue, 07/03/2012 - 15:05 | 2584861 LULZBank
LULZBank's picture

I would'nt be surprised if he did. Let them live in their dreams. You cant wake the already awaken.

They think they know to bring the financial system down and the Banks dont know it. They will buy all available physical silver overnight and show 2 fingers to all these gung ho silver warriors.

 

Tue, 07/03/2012 - 15:50 | 2585000 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Awaken the sleeping giant that is real money.

July 13th, buy silver!

Tue, 07/03/2012 - 15:17 | 2584914 Bay of Pigs
Bay of Pigs's picture

Manipulation can't be broken?

Perhaps it will crash under its own weight of fraud and corruption. 

Tue, 07/03/2012 - 18:30 | 2585434 dark pools of soros
dark pools of soros's picture

just think long and hard what just happened to Gaddafi.  They went out and crushed a nation for nothing else but their isolated prosperity.

Making farms in the desert from the aquaduct. Libya was positioning itself to prosper even if it stopped selling oil and kept it for itself.  All with no debt and planning to spread the use of gold backed money all across Africa.

EVERYTHING ZH COMMENTORS WISH FOR GADDAFI DID

so what is your end game? Hope that they just kill each other or get bored and then only honest people take power??  REALLY??

 

Tue, 07/03/2012 - 13:43 | 2584528 falak pema
falak pema's picture

FED dragged like Louis Xvi from Versailles to Paris. My, are the americans mixing their independence day with french Bastille day. I always felt that Bazooka Ben had a vague ressemblance with the last Romanov who got shot in the dark. 

So he will have a choice; either he plays at Louis or at Nicholas II. Imagine getting knocked off for a libor, its not even a nice whore, its just a dot in the ocean of fiat pimpernels. I prefer scarlet to red but then I'm prejudiced against the bolsheviks and prefer a clean blade to a shot in the back. 

Tue, 07/03/2012 - 13:46 | 2584549 francis_sawyer
francis_sawyer's picture

Look over here... It's the 4th of July

Look over there... It's the Wimbledon finals

Look over yonder, it's the Tour de France & Bastille Day

Wait a minute!... We have the London '12 Olympics (with the Wembly Stadium "all seeing eyes" overlording the whole event)

Encore?... RNC & DNC clown shows...

Shit ~ I'd better start working on my mock fantasy football drafts...

Wait a minute!... What was that problem you were talking about?

Tue, 07/03/2012 - 13:52 | 2584581 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Gold prices were trending on Yahoo's Top 10 yesterday :)

@#6!

Tue, 07/03/2012 - 14:27 | 2584746 dark pools of soros
dark pools of soros's picture

hopefully the elite spoiled brats will destroy each other..  does Benny have a daughter?  Would be a great catfight with Diamond's girl

http://dealbreaker.com/2012/07/bob-diamonds-daughter-releases-statement-re-fathers-firing/

 

 

Thu, 07/05/2012 - 02:19 | 2588054 jomama
jomama's picture

8/10 would bang

Tue, 07/03/2012 - 13:47 | 2584555 FeralSerf
FeralSerf's picture

Just doing G-d's work.

Tue, 07/03/2012 - 13:51 | 2584577 The Gooch
The Gooch's picture

Bullish on contract killing!

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