The Bank Of England Made Me Do It

Tyler Durden's picture




 

Wonder who was pushing Barclays to manipulate its rate? Why none other than the English Fed. From BBG:

  • BARCLAYS SAYS BANK OF ENGLAND CALLED ON OCT. 29, 2008 ON LIBOR
  • BARCLAYS SAYS DIAMOND MADE NOTE OF CALL
  • BARCLAYS SAYS DIAMOND RECEIVED CALL FROM PAUL TUCKER
  • BARCLAYS SAYS TUCKER SAID `CERTAIN' BARCLAYS DIDN'T NEED ADVICE
  • BARCLAYS SAYS TUCKER SAID DIDN'T ALWAYS NEED TO BE SO HIGH (Supposedly LIBOR)
  • BARCLAYS PROVIDES COPY OF DIAMOND'S CALL NOTE
  • BARCLAYS SAYS DIAMOND DIDN'T BELIEVE HE HAD GOT INSTRUCTION
  • BARCLAYS SAYS DEL MISSIER CONCLUDED INSTRUCTION HAD BEEN GIVEN
  • BARCLAYS SAYS DEL MISSIER TOLD RATE SETTERS TO LOWER RATES

In other words, a central banks was directly and indirectly involved in manipulating interest rates. Say it isn't so. Fast forward two months when the BOE's Tucker testifies that the Chairsatan made him do it.

And below is the "note"

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Tue, 07/03/2012 - 10:31 | 2583644 GeneMarchbanks
GeneMarchbanks's picture

How is this news?

Tue, 07/03/2012 - 10:32 | 2583652 The trend is yo...
The trend is your friend's picture

This should be good for another 50 es points

Tue, 07/03/2012 - 10:36 | 2583685 bsdetector
bsdetector's picture

If he walks with a pension we'll know they bought his silence.

Tue, 07/03/2012 - 10:38 | 2583708 Cursive
Cursive's picture

@bsdetector

TPTB (namely the BOE) could have either of them silenced (permanently) in a matter of moments.

Tue, 07/03/2012 - 10:46 | 2583742 BaBaBouy
BaBaBouy's picture

Well the Lie Bore soiled undies are on display in the open.

 

So how about the GOLD manip thats been heavy for 25 Yrs plus???

 

GOLD to the Moon, Bitchez... (Its Commin')

Tue, 07/03/2012 - 10:51 | 2583782 Bananamerican
Bananamerican's picture

"the Chairsatan made him do it"

...for the children.

or was it "to" the children?.....i get confused

Tue, 07/03/2012 - 11:04 | 2583832 TheDarkKnight
TheDarkKnight's picture

If they do it to LIEBOR why can't they do it to gold too?

 

http://en.wikipedia.org/wiki/Gold_fixing#Process

 

 

The current five participants in the fixing, who must be members of the London Bullion Market Association, are:

 

Yeah now just wait and watch for gold to SKYROCKET.

Tue, 07/03/2012 - 12:48 | 2584110 sunaJ
sunaJ's picture

If I understand the timeline correctly, most of the blatant LIBOR manipulation took place prior to 2008.  In OCTOBER of 2008, BoE official calls Diamond and suggests that Barclay's LIBOR rates could be lower.  Is this because after 2008, the banks (and especially Barclay's) realized that the LIBOR rates must come up to be more in compliance with reality, and then were asked by the BoE to bring them back down?  

If that's the case, the blatant fraud had been occurring for years already and only got attention from BoE when banks started trying to reset the LIBOR higher in a bid to cover their tracks.

Tue, 07/03/2012 - 13:01 | 2584346 strannick
strannick's picture

Barclays, BOE. Eventually the buck just gets passed back to Satan.

Tue, 07/03/2012 - 10:38 | 2583711 Temporalist
Temporalist's picture

This should last as news for another 15 minutes when Anderson Cooper comes out of the closet for the third time.

And in other news, Tom Cruise says the Bank of England made him break up with Katie.

Tue, 07/03/2012 - 10:42 | 2583732 lostintheflood
lostintheflood's picture

And in other news, Tom Cruise says the Bank of England made him break up with Katie.

 

please get it right!  i read huffpo and it said katie broke up with tom...

Tue, 07/03/2012 - 10:43 | 2583743 Temporalist
Temporalist's picture

My apologies to the Thetans.

Tue, 07/03/2012 - 11:27 | 2583964 Alpacanio
Alpacanio's picture

In other news... Anderson and Tom are Hollywoods newest couple!

Tue, 07/03/2012 - 10:52 | 2583787 Stoploss
Stoploss's picture

Sub prime crisis "containment" exposed..

 

Wake the fuck up..

Tue, 07/03/2012 - 11:55 | 2584112 Not Too Important
Not Too Important's picture

How about all the pension and retirement funds that were tied to LIEBOR rates and lost money? Probably into the hundreds of billions worldwide, if not more.

How soon before all the state/province DAs file lawsuits? Will they sue the BOE, in addition to the big banks? How about the US AG? Well, we know the answer to that one.

I suppose the big question right now is, if war breaks out, does all this go away?

Tue, 07/03/2012 - 12:00 | 2584143 Citxmech
Citxmech's picture

Bingo, and

Bingo.

Tue, 07/03/2012 - 10:57 | 2583813 battle axe
battle axe's picture

More importantly Andy Griffith just died. 

Tue, 07/03/2012 - 11:05 | 2583834 tocointhephrase
tocointhephrase's picture

How is this news? Here you go:

news/n(y)o?oz/

Noun:
  1. Newly received or noteworthy information, esp. about recent or important events.
  2. A broadcast or published report of news.
Tue, 07/03/2012 - 11:20 | 2583918 William113
William113's picture

This is news because its reminds everybody that these bankers all come from the same tribe. This is what happens when one small group of people get way to much power. Wait until Barry O wins the fixed election and then ask HOW IS THIS NEWS.

Tue, 07/03/2012 - 10:31 | 2583650 francis_sawyer
francis_sawyer's picture

Next thing you know they'll be telling us we live in a democracy...

Tue, 07/03/2012 - 10:33 | 2583667 Buckaroo Banzai
Buckaroo Banzai's picture

But but but... ah, fuck it.

Tue, 07/03/2012 - 10:32 | 2583654 Acet
Acet's picture

I didn't want to do it, twas the voices in my mind that made me do it!

Tue, 07/03/2012 - 10:32 | 2583657 holdbuysell
holdbuysell's picture

Cockroach theory says this will get to the Federal Reserve before this is over.

Tue, 07/03/2012 - 10:45 | 2583751 ArkansasAngie
ArkansasAngie's picture

Only if the light is turned on.

 

Tue, 07/03/2012 - 10:55 | 2583802 EscapeKey
EscapeKey's picture

Nah, the intermediaries will all die of totally unrelated heart attacks.

Tue, 07/03/2012 - 11:28 | 2583972 Arkadaba
Arkadaba's picture

in hot tubs

Tue, 07/03/2012 - 10:33 | 2583664 DeadFred
DeadFred's picture

The only interesting or novel thing here is how the sharks are turning on one another

Tue, 07/03/2012 - 10:34 | 2583676 Buckaroo Banzai
Buckaroo Banzai's picture

The center cannot hold, it seems.

Tue, 07/03/2012 - 10:44 | 2583706 hedgeless_horseman
hedgeless_horseman's picture

 

 

London's sharks do not live forever.

The Physical Impossibility of Death in the Mind of Someone Living

 

Tue, 07/03/2012 - 10:51 | 2583788 john39
john39's picture

all part of the theatre.   they will collapse the banks, and offer banker heads up to placate the masses.   They will use this publically generated outrage and anger to create their next control mechanism(s) like global currencies, digital currencies, supernational banks etc.   don't fall for it.

Tue, 07/03/2012 - 11:12 | 2583876 i-dog
i-dog's picture

Exactly.

Tue, 07/03/2012 - 10:56 | 2583800 Bananamerican
Bananamerican's picture

"London's sharks do not live forever"

the only good shark is a tranched shark...

Tue, 07/03/2012 - 10:50 | 2583735 Sudden Debt
Sudden Debt's picture

They could go for the pliers tactic like Hanibal did with the Romans, it worked over and over again.

let them think they are winning, pull back in the center, circle movement from the sides and... SQUEEZE!! SLAUGHTERHOUSE 2 BITCHEZ!!!!!!

or like Alexander! SQUEEZE AND CAVALERY FROM BEHIND!! YIiiiHAAAA!!!

 

 

Tue, 07/03/2012 - 10:47 | 2583764 gjp
gjp's picture

We can only hope.  It's held against the odds for far too long, and done a tremendous amount of damage along the way.

Tue, 07/03/2012 - 16:20 | 2584024 HardlyZero
HardlyZero's picture

MAJOR TIPPING POINT.

High DEBT can not be financed if interest rates go UP.

This could be a major 'interesting time'.

Prepare now.

Tue, 07/03/2012 - 10:37 | 2583694 CosmicDebris
CosmicDebris's picture

No fucking doubt.

Tue, 07/03/2012 - 10:40 | 2583720 resurger
resurger's picture

word

Tue, 07/03/2012 - 10:50 | 2583765 Shizzmoney
Shizzmoney's picture

When societies disintergrate/revolt, it is usually not led by the poor class (minus the French Revolution, which was a total revolt), but a dissention amongst "elites" and well-to-do middle intellectual middle classes (ie John Adams).

Look at the American Revolution.  It was basically a disagreement between "elites" on one end of the pond vs anohter on how to live their faith, ownership rights, tax/representation, and of course, the fight over who gets to print and use, what currency (which was the main reason).

Benjamin Franklin wasn't a poor man when he came to 1750s Philly.

Then, it all resets, and the "elites" against herd the sheep back into their barns. 

There a book called, "Taming Democracy", which is a must read for anyone on this board.  Political Upheaval is really a tale of two cities.

Tue, 07/03/2012 - 10:58 | 2583811 EscapeKey
EscapeKey's picture

During a revolution, part of the bourgeoisie and upper class trade places, but apart from that, no real societal change happens.

1984.

Tue, 07/03/2012 - 13:17 | 2584414 terryfuckwit
terryfuckwit's picture

Exactly... great to see the scum getting shafted by the scum. Doesn't really matter how good your funny hand shake is or how far you roll the old trouser leg up....still all eminently shaftable... watch them start screaming for the law

Tue, 07/03/2012 - 10:37 | 2583666 Captain Benny
Captain Benny's picture

Oh snap, the system continues the big unwind.  Bigger news in the days to follow... get your popcorn ready and stock up on butter!

Sounds like the shit is hitting the fan at the Morgue nowdays as well.... I'm really hoping for some fourth of July fireworks, maybe they'll put up a good show.

Tue, 07/03/2012 - 10:34 | 2583672 doomandbloom
doomandbloom's picture

so 2005=2008 was fine?

Tue, 07/03/2012 - 10:41 | 2583674 Dr. Engali
Dr. Engali's picture

A central bank manipulating interest rates...who would have thunk it? Next thing you will be trying tell me that the Easter bunny doesn't really exist.

Tue, 07/03/2012 - 10:36 | 2583690 Cursive
Cursive's picture

This is an attempt to place the blame on del Missier.

Tue, 07/03/2012 - 10:46 | 2583756 financial apoca...
financial apocalyptic contagion's picture

clearly some1 has to take the hit

but no way the BoE comes out unscathed unless the FSA is in on this. oh wait.. fuck

Tue, 07/03/2012 - 10:37 | 2583695 DavidC
DavidC's picture

"Fast forward two months when the BOE's Tucker testifies that the Chairsatan made him do it".

It wouldn't be in the least surprising given Timmah's meddling in Europe and trying to get them to be 'more proactive'.

DavidC

Tue, 07/03/2012 - 10:37 | 2583696 tocointhephrase
tocointhephrase's picture

"Its a puppet"

Brian Conley

Tue, 07/03/2012 - 10:37 | 2583697 Conman
Conman's picture

I agree non news really, all the CBs manipulate rates openly and the markets love it.

Tue, 07/03/2012 - 10:38 | 2583709 CreativeDestructor
CreativeDestructor's picture

Is there anything or anywhere not rigged by these cunts?!

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