Sunday, Jul 22, 2012
"Fraud is the lesser evil"
Libor rigging, interest rate swaps et al are parts of a bigger IR rigging scandal perpetrated by the BoE and the Fed to mask the insolvency of their banking systems (by supporting prices of assets on their balance sheets) and to stimulate demand for their Treasury bonds despite budget and trade deficits. Savers and buyers of IR swaps (incl. municipalities/local authorities - advised by the sellers of those swaps) are harmed by the fraud. Why do politicians collude? Because if they called the BoE/Fed to account the latter would ask: "do you want IRs to rise? have you the money to bail out insured depositors? and what would IR rises do to real estate? and do you want gilt prices to collapse, wiping out bond funds and a lot of wealth? "No", they reply, "fraud is better than collapse"
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines