Friday, December 14, 2012

LIBOR Manipulation - The Biggest Fraud In The History Of The World

And, every major bank in the world was likely in on it.  Good article.  Sickeningly so.  By the way, Alan Greenspan’s fingers are all over this for his neoliberal, completely bullshit belief system that banks and corporations would do a better job of regulating themselves than any democratically-controlled government agency.  Greenspan is was nothing more than an incompetent Soviet-style bureaucrat who believed the rule of man, corporate self-regulation, was superior to the rule of law of democracy. 

I will say this is not the biggest fraud in the history of the world as is remarked in this article.  The biggest fraud in the history of the world was the Corporate Personhood Supreme Court ruling 150 years ago that guaranteed we would some day end up a fascist nation and right where we are today.  As remarked on here before, at that time the Supreme Court was excluded from recent bribery laws that made buying politicians illegal for the first time in our nation’s history.  Yes, a surprise to most is that up until the mid 1800s, Washington politicians actually used to hand out cash on the floor of Congress as John Boehner does today.  And, just as today, do it legally. 

But, as Boehner remarks in the above video of him handing out corporate bribes, it’s not illegal.  Hahahaha.  "Sometimes the law defends plunder and participates in it. Thus the beneficiaries are spared the shame and danger that their acts would otherwise involve. But how is this legal plunder to be identified? Quite simply. See if the law takes from some persons what belongs to them and gives it to the other persons to whom it doesn't belong. See if the law benefits one citizen at the expense of another by doing what the citizen himself cannot do without committing a crime." -- Frederic Bastiat

So, it seems obvious that a way around this new legislation in the mid 1800s was to bribe the Supreme Court, still a legal act, to get an end around by legalizing political bribery of all politicians through an absofrickinglutely laughable Supreme Court decision that corporations are people - Corporate Personhood.   This opened the floodgate of corporate money and corporations created to funnel money into a fascist political system.  Once that happened, elites and corporations could legally bribe Congress and presidents under the corporation-granted rights of citizens to give money to political campaigns.    This dynamic ensured the Supreme Court remained stacked with corporation-friendly and Corporate Personhood-friendly judges.   You know, because corporation-bribed politicians picked the Supreme Court justices. 

And, you thought fascism was something we had to worry about becoming.   If you open your eyes, it becomes manifestly obvious that we have always been a fascist political system with democracy chafing underneath it.    Ever wonder why Common Sense progress is always such a struggle in this nation? ……………  Thomas Paine would most certainly be imprisoned by the corporate state.  Or, most certainly on a watch list of prospective terrorists.

That was the biggest fraud in the history of the world.  Bar none.  Then everything that flowed since in corporate fraud is a result of that landmark case with global implications.  Global implications because of how courts around the world use precedence and rulings in other nations to defend their own rulings.  So, it perpetuated a global corporatocracy we see today.  And, a major part of that was the legalized bribery of Congress in 1913 to pass the fascist Federal Reserve Act that outsourced democracy’s banking and money to private, for-profit criminal Wall Street fascist oligarchs.   The current Libor scandal and all of the other Wall Street frauds naturally flows from this.  Even if Libor is set in Britain, the original Corporate Personhood decision by the American Supreme Court  plays a pivotal role in its use today. 

We need a public banking and monetary system that serves democracy, democratic economics and human development.  Instead we continue to mound regulations on a criminal private, for-profit system that isn’t even consistent with democracy, democratic economics or human rights.   No amount of regulation will democratize private, for-profit banking. 

Washington, the whorehouse of whorehouses.

posted by TimingLogic at 11:08 AM

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