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Presenting The Real Lie-bor Submission Process
William Banzai clarifies the process by which Lie-bor submissions are turned into entirely irrelevant (and yet massively important to trillions of dollars of derivatives) interest-rate settings.
Source: William Banzai
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Where's the diving board and lifeguards?
Nice to see Banzai7 is still on his game. :>)
The ZH community has been one of the most enlghtening groups of people I have ever had the chance with whom to associate. What an absolute pleasure and horror at the same time.
An expert said we needed to get a backhoe to investigate this problem , but instead we got Maxine Waters.
Easy mistake.
That's just wrong....It's funnier than hell, but it is still wrong.
Reconnect the hose...
That thing really sucks.
good shit wb.
>>>Hypothetically<<< ;-) it woud be neat to get someone - maybe Anonymous - to hack CSPAN or (I assume) some sort of internal Congress and/or White House closed circuit feed and run a repeating loop of WB7 classics.
I'd include the Maxine Waters one as a guest submission.
Pete
Part of me wants to believe that you are going to off-load the holding tanks.
Which one is the hoe?
"The ZH community has been one of the most enlghtening groups of people I have ever had the chance with whom to associate. What an absolute pleasure and horror at the same time."
Charles Dickens - "IT WAS the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, it was the season of Light, it was the season of Darkness, it was the spring of hope, it was the winter of despair, we had everything before us, we had nothing before us, we were all going direct to Heaven, we were all going direct the other way- in short, the period was so far like the present period, that some of its noisiest authorities insisted on its being received, for good or for evil, in the superlative degree of comparison only."
http://en.wikipedia.org/wiki/A_Tale_of_Two_Cities
Yup, that Dicken said it better than this dick. So yeah, what he said.
This truly is the age of contradictions.
Who gathers knowledge gathers pain.
Ecclesiates 1:18
What a great red pill quote!
The diagram does not show the leaching field, which is an errorobic system that waters and fertilizes the bankers' bonus pools and politicians' re-election accounts.
It looks just like a mudbath and they charge you $200 to wallow in it for an hour (for your health!).
In China, they say it brings good luck.
May you live in interesting times is more like it. It's actually a curse in China.
I think:
1. The ponzi has stopped growing
2. Investors are taking their money out of the system
And the collapse has accelerated and gaining traction.
Time for scum to turn on each other for their own survival.
I believe you are right and the proof is in the fact that Barclays' head was thrown under the bus or so it appears. Does anyone have news of what his outgoing package of grift was?
Only salary, no bone-us.
http://www.bbc.co.uk/news/business-18779089
Word round the camp fire is twenty mil ...
Not two.
I wish somebody would flush a cherry bomb or M-80 down the "LieBor Submission Desk"!
Patients... Time and pressure. Someone will blink.
Gives a whole new meaning to trickle down.
The old "don't piss on my head and tell me it's raining" type of thing?
Except its shit and they tell you its hail.
making bets based on liebor is like buying options on leverage to bet against the banks selling you said leverage and options. Sorry sir, you lose again. /funny
It's a shit-show to be sure but ultimately LIBOR is just an appendage of ZIRP (LIBOR tracks fed funds pretty tightly). And it's not even obvious that Barclays et al realized one net additional dollar in earnings from any (extra) rate manipulation anyway.
This is very much a sideshow. ZIRP will screw just about everyone in the end. Wake up and smell the poached frogs people.
When my son was around 3 he loved to play with pvc pipes and screw them all together with the connecting pieces, bends and joints. I thought he was expressing his engineering genes. Now I'm frightened that instead he may have been expressing an affinity for market manipulation.
"Modern finance" involves bending lots and lots of shit pipes.
The market, like the internet, is a series of tube. It is not a truck, it is not something you just dump on - http://www.youtube.com/watch?v=_cZC67wXUTs
what happened if (and when) the pipes leak?
Bend more? Loads of fun (eh, shit).
Or, is it Modern Finance 201?
A whole new definition of "Turd Herder"!
WB- Thanks again for my daily dose of humor. Sometimes I think you spoil us with your frequency of posts and I catch myself wondering, "Where the hell is my Banzai fix?", but that is just testiment to your skill in unmasking the baffonery... as it hapens in real time. We are blessed by your take on current events and I just can't get enough of a good thing. Thank you again from another member of the peanut gallery.
Whatever happens - DO NOT FLUSH!
OT. Why is Red Search in Motion Eeffing tanked today? Beuler?
Time for a visit from the "suck truck" to clear out this mess....
Shitter was full.
http://www.youtube.com/watch?v=NmRdysFIdkY
We need Mike Rowe from Dirty Jobs to show us how to clean up the system.
Long hemp and 30 cap. magazines. BTW, that picture resembles a pressure cooker to me, of shit that is.
Brilliant again, WB. Thanks.
speaking of toilets there are many moments in this 65 sec clip where
BoE Paul Tucker looks as if he just ate a shit sandwich.
http://www.youtube.com/watch?v=JLq0KD7CVw4
...
ps: good work on that schematic! funny.
l have been ruined - every time I click on a ZH Banzai post, I start chuckling before the damn page even comes up - like Pavlov's damn dog.
But this one is a classic LOL - partly for me because I put in a septic system on the homestead about 15 years ago after finally giving up on the maintenance the Clivus required, and kind of understand anerobic decomposition and leach fields and stuff like that - the anology to LIEbor is perfect!
My only question is whether the CEO scum should float that high, but they do get to skim off the top, so I guess that is correct.
Gentlement of ZH: for your consideration -
http://en.wikipedia.org/wiki/Pulitzer_Prize_for_Editorial_Cartooning
Seriously - WB7 should be nominated for his consistently accurate and perceptive visions of our world economy. Who has the chops to do this?
WB7 reached behind the bowl and let loose a tsunami of brilliant fecal matter visual combat. ZHers have responded with great enthusiasm with appropriate comments and observations.
We the shit.
Really.
Speaking of lies,Kitco showed the gold and silver lease rates drop way into the negative for a day or two,and now that info on the charts has been "vaporized" and new charts don't show the huge couple day drop into negative .55 area anymore.
Kitco is very decietful and changes their data and charts all the time to hide the negative rate "raid" for gold to be leased (payed to take)for one year and 6 month rates.
Jon Nadler is a shillof the gov,and bankers.
Kitco's collective ass has deeper boils than Jon Nadler, shockingly enough. They are not "well-liked" by the Quebecois government:
http://www.kitco.com/pr/1037/article_06072012161304.pdf
Doesn't surprise me that their charts are now getting the "traitment speciale".
I will be on Fox Buainess tomorrow at 11:30 EST (or 11:40am) to discuss the Senate hearing on LIBOR fixing.
http://confoundedinterest.wordpress.com/2012/07/06/libor-fixing-and-the-...
Maybe check your terminology before you go on, the BoE's changed the name of its official rate a few times in the last decade or so:
http://en.wikipedia.org/wiki/Official_bank_rate
Post it on youtube for Foxless ZHers if you can... Good luck :)
Anyone actually watch FoxFiction Biz?????
The fascist controlled media is selling LIBOR fraud and theft as a scandal and not a crime . Egland has the same corrupt two tier justice system as the USA . Transparency International . org tracks world corruption since 2007 the USA hasfallen from 20 to 24 on the scale now lower than Chile but higher than the UK . Some belive that corruption can cost up to 1% of a countries GDP from lost investment . Who wants to invest with fraudsters .
I liked your comments until you got to that "Transparency Int'l" item: please don't mention a group originally funded by Goldman Sachs, JPMorgan Chase, Citigroup, BofA, UBS, etc.
Forgot the Telfon-a-la-King coating on the Tucker-Tubes. For crucial slipperiness during the 'post-open-pit-direct-dump arse-extrication announcement' manoeuvre. (POPDDAEAM - pronounced 'Potsdam' in BoE parlance. Usage "fTucker pulled off a fine Potsdam at the TCSC, don't you think?")
Eventually, the ole' honey tank gets full ... just like it is now. Time to clean it out so we can feed the muppets.
http://vimeo.com/24854061
Here's something that may have escaped many:
Septic systems are designed to fail. Their very design demands that ultimately they must ceae to be able to function. Thus, WB has the perfect analogy for LIBOR rate setting, but with a little flare.
Sheer Insanity
You can’t support the Fascisti and not expect Fascism!
We have to categorically state that there is no qualitative difference between FoxFiction, CNN, NPR and Amy Goodman’s Democracy Now! --- none will ever address the real issues --- it’s always political theater!
We still have to battle on voting rights because those who fought for it once, allowed themselves to either be overshadowed by the Fascisti, or to now support them.
Please don’t mention to us the name of Andrew Young, who once took bribes from the BCCI, and worked for them as a consultant, and is now a member of the lobbyist group for the international super-rich, the Bretton Woods Committee (brettonwoods.org).
Please don’t mention to us the names of Rep. Conyers or Charlie Rangel; we recall meeting with them many, many years ago, when the Black Congressional Caucus was bribed (received heavy donations) to create and successfully lobby for the passage of the legislation which removed defense-related jobs from the prohibition list --- thereby allowing them to be offshored with the affiliated tax breaks for shipping those jobs out of the country, along with a chunk of the GDP.
In the present, the disingenuous Joe Biden, just prior to a national tour for campaign contributions, goes public with a positive pronouncement for Gay marriage, thus “causing” President Obama to do likewise --- and their contributions rose considerably as a result.
Simpleton Gaytards are ecstatic --- ignoring the fascist record of the Obama administration on due process, habeas corpus, and their Gestapo raids for preemptive arrests of activists.
Ignoring the Obama administration’s financial support in the overthrow of the democratically-elected Honduran government; ignoring their tacit support for the Saudi military incursion into Bahrain to shoot the protesters there; ignoring the abomination of the Obama administration’s war on whistleblowers and obscene use of the Espionage Act in the subversion of democracy.
Support the Fascisti, and you have fascism!
Today Wall Street presents the electorate with the usual fascisti choices: Barack Obama and Mitt Romney, assuring the continuation of the fascistic march to neoserfdom oblivion.
Only the most ignorant, the most simpleton, the most morally lazy, would embrace either of those depraved characters!
Highly paid propaganda specialists proclaim that America has made much progress as the latest Wall Street stooge in the presidency is only half-white instead of all-white, much like one retail brand claims to smell better than its competitor.
Negative! It stinks to those of us who refuse to support the Fascisti!
All politics have been reduced to one part branding giveaways to Wall Street (cap-and-trade for the oil companies and banks) as a positive for the public welfare or the environment, with the other side attacking it for nonsensical reasons (not the obvious and truthful ones).
Wall Street will now enjoy their second-tier bailout in the guise of a health insurance bill which ensures a one-half trillion dollar money flow --- but does nothing to increase access nor decrease costs, with the staged legal battle to ensure the Supreme Court’s decision to set the legal precedent for the privatization of taxation.
Vile cretins, claiming to be democrats and progressives, seek donations for ever more giveaways to Wall Street!
Democracy has long been lost --- the Fascisti have long since won.
The treason of the people is moot.
Some choice come November!
Between red shit or blue shit!
The best choice seems to be NO choice.
http://www.youtube.com/watch?v=HeMGqTwWA6U
Why not?
http://www.huffingtonpost.com/2012/07/09/chase-lawsuit_n_1659210.html?ncid=edlinkusaolp00000003