( Lucas : The blame game has started that makes it only interesting and gets us in the blaming more and more insights in those who have robbed us, deceived, enslaved us. The truth will come out whatever way. Soon the old will vanish from the screens and out of existence. We will see the new emerging.)
The Libor scandal is about to get a whole lot worse. And, that’s the good news.
Not only are at least twenty more big banks under investigation as part of a massive fraud to manipulate interbank lending rates that affect some $800 trillion in loans and derivatives, but the Bank of England is about to take center stage in the scandal. Continue reading
Posted in Article, Links, my writings, reblog
Tagged 2012, 7 July, Bank of England, Central Bank, Disclosure, Earth, Forbes, Free market, It's Not Libor Stupid Central Banks Are The Problem, LIBOR, London Interbank Offered Rate, news, Shah Gilani, spiritual, Spiritual evolution, World
The Bank for International Settlements has issued a stark warning to central banks across the world that they are putting their credibility and independence on the line through lax monetary policy.
On Friday, ECB President Mario Draghi announced ECB to Accept BBB- Rated Debt (One Step Above Junk) as Collateral. Reaction from the German central bank was immediate: Bundesbank Swipes at Draghi as European Fault Lines Deepen
“We’re critical of this,” Bundesbank spokesman Michael Best said yesterday. In terms of collateral, “we won’t accept what we don’t have to accept,” he said. Continue reading
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Tagged 2012, 25 June, Central Bank, Disclosure, Earth, ECB, European Central Bank, Is There A Limit On Central Bank's Ability To Inflate?, Mario Draghi, Mike Shedlock, Mish, news, spiritual, Spiritual evolution, World
The message of the day is “damn the consequences, the casino bar shall remain open”, whatever it takes, no matter the consequences to taxpayers who will be responsible for the bar tab.
Bank of England Launches Two New Stimulus Packages
The BBC reports Bank shares jump on new business support plans Continue reading
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Tagged 15 June, 2012, Bank of England, Casino Bar Shall Remain Open : ECB "On Standby" Promising Liquidity For Greek Election Fallout; Bank Of England Launches Two New Stimulus Packages, Central Bank, Disclosure, Earth, ECB, European Central Bank, Financial Times, Greece, Mario Draghi, Mike Shedlock, Mish, news, spiritual, Spiritual evolution, World
Central bank action seen as “act of desperation” | euronews, world news. 1 december 2011 link to article including video
Stock markets had their best day in more than two years after six of the world’s richest central banks announced a coordinated effort to push more dollars into the financial system.
By increasing liquidity the unilateral move boosted confidence but was seen as an act of desperation to help those banks with exposure to governments in the euro zone.
With political leadership still arguing over how to stem the single currency crisis the bank action took the pressure off ministers meeting in Brussels for a while.
“The EU is going through a very difficult and I would add a dangerous period, no doubt about that. Since the summer, it’s no longer a problem in this or that country. The trouble has become systemic,” warned European Council President, Herman Van Rompuy .
In Brussels the pressure to protect the vulnerable members of the euro zone has become intense with many urging the IMF to step in. Germany however is still insisting the zone’s weakest members have to reform.
Meanwhile despite Greece being granted its latest bailout tranche yesterday, the new government is set to face its first serious test against union opposition in the form of another general strike.
Copyright © 2011 euronews