Word out today that Deutsche Bank is under investigation for LIBOR rate rigging has sent it’s shares down substantially.
Of course we know that they were ALL IN ON IT so that means many more “announcements” are coming. Here are the 18 banks that form the committee to set LIBOR:
- Bank of America
- Bank of Tokyo-Mitsubishi UFJ Ltd
- Barclays Bank plc
- BNP Paribas
- Citibank NA
- Credit Agricole CIB
- Credit Suisse
- Deutsche Bank AG
- JP Morgan Chase
- Lloyds Banking Group
- Royal Bank of Canada
- Société Générale
- Sumitomo Mitsui Banking Corporation Europe Ltd (SMBCE)
- The Norinchukin Bank
- The Royal Bank of Scotland Group
- UBS AG
It is important to note that of these 18 banks that colluded to set phoney LIBOR rates, 9 of these banks are “Authorized Participants” colluding to rig the gold and silver markets in the phoney Gold and Silver ETF’s (GLD & SLV).
Barclays Capital Inc
Citigroup Global Markets Inc.
Credit Suisse Securities (USA) LLC
Deutsche Bank AG
JP Morgan Securities Inc.
Merrill Lynch (Bank of America)
RBC Capital Markets, LLC,
UBS Securities LLC
Like a tidal wave as it approaches shore the scandals are mounting.
May the Road you choose be the Right Road.