Machholz's Blog

What is truth?

Central Banks Rigging the Markets, Regulators Blind to LIBOR Fraud

Interest Rates

Interest Rates (Photo credit: 401(K) 2013)

By: Brady_Willett

Thanks to a series of colossal failures that were impossible to hide, we now know that Futures Commission Merchants (FCMs) could instantly access billions of dollars that did not belong to them. Thanks to incriminating emails and ongoing settlements, we now know that a horde of banks can collude to rig key interest rate benchmarks for decades. This is what we now know after decades of malfeasance. Just imagine, then, what still goes on behind the curtain. Then again, with central banks printing trillions in fiat currencies in order that they might openly manipulate interest rates and market prices, it is abundantly clear that curtains are becoming optional. Consider the following: 14 central banks, representing a combined $16 trillion in bond and equities capitalizations, have followed the U.S. Federal Reserve down its zero percent path and have, already, printed more than $9 trillion. As Marc Doss from Wells Fargo notes, “That’s like creating the second-largest economy in the world out of thin air.”[1]

Leaving the Fed alone for the moment (something they should have done to the markets in 2008), our journey starts with a recap of two of the most scandalous events in financial market history. These and other stories help expose the suspicious actions/inactions of regulators and policy makers, and comment on the sense of skulking uncertainty that has become embedded in the financial markets. We leave it to you to conclude whether the greater good is being served by those entrusted and empowered to marshal change.

MF Global

More than a year has passed since MF Global (MFG) filed for bankruptcy. You may recall that MFG made massive leveraged bets in European debt, and when these bets started to come under pressure $1.6 billion mysteriously went missing from customer accounts. Below are some highlights and opinions of events thus far, starting from the CME‘s timeline……………………………

full article at source: http://www.marketoracle.co.uk/Article38905.html

 

About these ads

Author: machholz

I started this Blog to get out of my system the absolute rage that I have for the corrupt politicians and their Banker Buddies. I’m an ordinary guy, married with kids, and have firm opinions of what is right and what is wrong. I’m not afraid to say it even when it makes me unpopular. I reproduce news all manner of articles, but will always confirm the source of the articles; this is a compliment to the source of such news pieces. But if you do not agree with this and you are the original author, I will take down any article when requested to do so. I do not assume that the author of the news articles share with my views, I include news articles to give readers another slant to my views or to illustrate what the mainstream news media say on the relevant topic. The opinions expressed are my own but I do not accept liability for them, If I have offended you or made a factual error please put on record the truth by leaving a comment. In addition, my thoughts and opinions change from time to time...I consider this a necessary consequence of having an open mind. This weblog is intended to provide a semi-permanent point in time snapshot and manifestation of the various memes running around my brain, and as such any thoughts and opinions expressed within out-of-date posts may not the same, nor even similar, to those I may hold today. For the record I am currently an Independent political activist and am not affiliated to any political party

Comments are closed.

Follow

Get every new post delivered to your Inbox.

Join 2,237 other followers