What is Libor?
In a most basic definition, to be easily torn apart by bankers or economists, LIBOR is a banks reported rate they can borrow for. Some may think, “Well banks don’t borrow money, people do.” Banks borrow money for rates less than they loan it out. That is how they make profits. When you put money in your bank account, you “loan” it to the bank.
On June 27, 2012 the United States Commodities Futures Trading Commission, the CFTC fined Barclays a mere $200 Million penalty for manipulation and false reporting concerning LIBOR and Euribor benchmark interest rates. Using Libor fraud, Barclays has been able to literally steal from a monetary fund worth over 500 Trillion dollars.
What comes after trillion? Get your quads ready to hold up a quadrillion dollars.
As money flows through the hands of banks, especially world lending banks that have roots dating back over 1000 years (Rothschild), the banks take pieces of those funds as another source of income. Some account types they may set up separate corporate entities to process through (this is important). For credit card transactions, the fees can range from 1-4% of the transfer and the interest rates can be exorobitant. Every time the money moves, the banks take a little. While one bank may lose and need a bailout, another bank owned by the worlds elites will move the losing banks money through the winning elite bank who takes a small piece. A small piece of 500 trillion is still a very big piece.
It was found by the CFTC that during the global financial crisis in late August 2007 through early 2009, as a result of instructions from Barclays’ senior management, the Bank routinely made artificially low LIBOR submissions to protect Barclays’ reputation from negative market and media perceptions concerning Barclays’ financial condition.
How would making low Libor submissions help Barclays?
In the United States in 2008, around 60 percent of prime adjustable rate mortgages and nearly all subprime mortgages were indexed to the US dollar Libor. In 2012, around 45 percent of prime adjustable rate mortgages and more than 80 percent of subprime mortgages were indexed to the Libor. American municipalities also borrowed around 75 percent of their money through financial products that were linked to the Libor.
The lower the Libor rate, the more money moves. People refinance, Banks refinance, people borrow more, banks borrow more. Remember, every time the money moves, the banks processing that movement make money. BUT… There is more to the story…
Imagine you could control the worlds 5 largest banks. You set up all 5, telling investors that 4 of the banks can get loans for 1% interest rates. One of the banks borrows from the other 4 at 2% rates and investors shy away from this bank because it seems this bank starts off losing. So investors outside your little circle don’t realize it but you slowly sell away your part of four of the banks, while at the same time working with them to keep these rates low. Your fifth bank, the one that you still own, has actually been borrowing money from the other four banks for less than 1% and the other banks are not actually able to get the 1% rate anymore even though they tell investors that. Your fifth bank has invested in strong secure assets while the other four were center stage financing unaffordable home loans and usury credit cards. People quit paying the other 4 banks but you don’t care anymore. Remember you sold those banks and profited. You have your fifth bank that is booming. And because you were smart, this fifth bank is still able and willing to process every financial transaction in the world since the other 4 failed.
That is Libor Fraud at it’s finest… A 200 million dollar fine for Barclays after years of skimming from over 500 trillion dollars of money movement each year…
1/4% of 15 Trillion = $37,500,000,000 37.5 Billion dollars
1% of 15 Trillion = $1,500,000,000,000 1.5 Trillion dollar