This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

'Non-Conspiracy' Theorists Are Saps for Wall Street

VANCOUVER, Canada ( Bullion Bulls Canada) -- Conspiracy nut.

Looking for a cheap laugh at a social gathering? Simply dig up some "conspiracy theory" that may have leaked into the view of the masses, point at the "conspiracy nuts" who propound this hypothesis and then make some derisive remark.

"Everyone knows" that all conspiracy theories are ridiculous, and thus all conspiracy theorists are "nuts." The mainstream media tell us this all the time. But what happens when we are not dealing with conspiracy theory? What happens when we're dealing with conspiracy fact?

Those who have been vacationing on a distant planet may not have heard of LIBOR, the London InterBank Offer Rate, and the basis for (according to the bankers themselves) more than $500 trillion in human commerce. It is produced through anonymous data, submitted by the largest of the Western big banks, and the integrity of this system is 100% dependent on the honesty of these bankers.

For those readers who are not currently shaking with laughter, you must have missed the Reuters article where one-quarter of the Wall Street executives who responded to a public survey expressed the opinion that crime was now a way of life in banking. Of course, the more interesting number is unknown: What percentage of Wall Street executives would have expressed that opinion if it were not a public survey?

Not surprisingly (in a process "regulated" only by other bankers), in early 2012 the conspiracy to rig the LIBOR interest rate was revealed . Originally, the U.K. government and the corporate media attempted to peddle the fairy tale that Barclays Bank had "colluded" alone to rig an interest rate set collectively by more than a dozen big banks. But this conspiracy of one fantasy was soon abandoned. As of this writing, several of these banks are now "strongly suspected" in this criminal conspiracy, as the international investigation into the largest financial crime in the history of commerce "advances" at an almost imperceptible pace. Meanwhile, the crime continues.

The same big banks are still colluding to set the LIBOR rate, in a process that is still totally lacking any "independent safeguards" -- i.e., having someone other than the criminals police themselves. We thus now have the two largest conspiracies in the history of humanity side by side, by dollar value (roughly 10 times as large as the entire global economy).

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
AAPL $127.60 2.28%
FB $83.09 2.87%
GOOG $535.38 2.16%
TSLA $205.27 -0.74%
YHOO $44.66 0.46%

Markets

DOW 18,034.93 +208.63 1.17%
S&P 500 2,100.40 +19.22 0.92%
NASDAQ 4,994.6020 +62.7870 1.27%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs