Blast From The "Devil's Advocate" Past: Barclays On Libor Manipulation

Tyler Durden's picture

In retrospect, this may be one of the funnier "research" notes to have come out of Barlcays in the past 5 years.

h/t Mehmet Turk

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daccord's picture

I wish Canada had a zerohedge

LongSoupLine's picture

...and I wish regulators read Zero Hedge.

GetZeeGold's picture



I'm not sure they can even actually read. Maybe we should test them.


That's probably against union rules maybe we'll never know.


Dr. Kenneth Noisewater's picture

ZH doesn't feature enough naked titties and gangbangs to get regulators' attention.

GetZeeGold's picture



He's got a pretty good point.......and he's a Doctor to boot.


No I didn't check his credentials......he says he's a Doctor.....that good enough for me. Hell give the cat a Nobel Prize....those things are pratically free.


Dr. Engali's picture

The thing that kills me is that people aren't pulling money away from these crooks right and left. I just don't get it, especially the big money, unlike the sheep they have to be aware of what's going on. Maybe they are and they just don't care.

fonzannoon's picture

Where are they going to go? I hear people ask that a lot...."where am I gonna go with the money"?

LawsofPhysics's picture

Physical anything, land, PMs, guns, all kinds of machinery, etc.   Folks in our neck of the woods are getting organized, talking to one another about a regional plan once the currency dies.  It now not a question of if, but rather when.  Same thing happened in England when they lost the reserve currency.  Just remember, ALL eCONomies are really local, always have been.

TheFourthStooge-ing's picture


Physical anything, land, PMs, guns, all kinds of machinery, etc.

Just ordered a lathe and a mill from Grizzly. As supply chains wither, the throwaway society will become a memory. The repair business will see a resurgence, and the ability to fabricate replacement parts will be a distinct advantage.

AGuy's picture

Hard to do that in countries implementing capital countries. And its not as if another bank elsewhere or another paper currency is any less risky. We live in a "Mad Money" World!


ghengis86's picture

Gold bars
Real Estate (talking acreage here)
A big fucking safe in the basement

If that doesn't work, try the local credit union ?

Don't know, but for fucks sake I know I could get creative if I had millions that I didn't want to be Corzined

writingsonthewall's picture

Don't know, but for fucks sake I know I could get creative if I had millions that I didn't want to be Corzined


...that's because you would assume you had WORKED for it - however those with millions are idle layabouts who merely exploit others to gain wealth.


Therefore they're not that bothered about losing it.

Only people who EARN money are worried about losing it - it has value to them.

BigJim's picture

From what I can make out, the vast majority of money managers are herd creatures... you rarely see a zebra or wildebeest off on its own. But when the herd starts moving, I think there'll be a stampede. At the moment, no one wants to look 'stupid' enough to listen to 'conspiracy theories' (ie, reason). Dollar lose its reserve status? Pshaw! No one at my club thinks that! A lot of these people don't even understand the monetary system, however, so they're blind to all the underlying macro shifts.

Kyle Bass and Hugh Hendry are the exceptions, not the rule...

digitalhermit's picture

Bitcoins. Non-confiscatable, no capital controls, no taxes. It's already happening.

firstdivision's picture


lol at the thought of plants "favoring" natty.  not like a coal plant can magically start using gas to generate. 

LongSoupLine's picture

a lot of irony with " devil" being used in their subject title.

HoofHearted's picture

Awesome research note. Irony in every place, with a little bit of crow thrown in on the side. Please, Sir, may I have another?

TheFourthStooge-ing's picture

It's not so ironic if you consider that they really are advocates for the devil.

Abner Doon's picture

George Hartzman's Wells Fargo Whistleblower INTERNAL USE ONLY Evidence Dump

aleph0's picture


They sure can make things sound "nice" .

The ability to Spin things so nicely is surely a well paid profession these days .. like lobbying.


ParkAveFlasher's picture

Our well-supported analysts at Barclay's surmise that common foxes (Vulpes vulpes) are both far too cute and far too furry to steal the hen while farmer is away, and anyway, could not, with their paws, which lack opposable thumbs, and with their gait, which is squarely on four limbs and not two, facily unlatch the coop door and gain entry to said coop in a manner which would be conducive to the practice of hedged ISO-certified poultry extraction which itself is over-regulated by at least five absorbed and insured administrative entities.

LeisureSmith's picture

There does not appear to exist any strong empirical evidence to justify suggesting that what i'm writing makes sense in any significant way.

Zola's picture

@Dr Engali - just like many knew Madoff was a Ponzi and were still invested. These people and pension funds that are managed by such idiots deserve to lose and NOT BE BAILED OUT

onebir's picture

Chinese walls working well for once :p

Bogdog's picture

That may be the funniest thing I've ever read on ZH.