LIBOR, TSA, AND BANKS:TYRANNY REIGNS AS WORLD SHRUGS IN APATHY

If there was ever a clear sign that we are being conditioned to accept whatever bullshit the bankers, governments and corporations will give us, this week has taken the cake. New demeaning TSA rules, a banking scandal that should be on the front page of every newspaper and the lead story on every newscast but isn't, and a public being groomed to take it all up the ass and like it. Unbelievable.



Let's start off with the American Gestapo: The TSA. First, it was revealed that TSA agents may test any drink you have on you even after you have passed through security. If it's already made it through security, why should you have to test it? Are your security procedures so lax that deadly weapons can make it through your checkpoints? Oh that's right, you are so busy looking at the naked people and fondling Captain Kirk, that real weapons get through with alarming regularity. This is yet another case where your security measures suck, so you double down by blaming the passengers who just want to get Des Moines to see their Nana. Any TSA agent that checks my drink can just keep it, most likely by wearing it.



If that wasn't outrageous enough now comes word that like some twisted game of Red Rover, any time a TSA agent yells FREEZE, all passengers are supposed to stop and be quiet. We are not dogs, yours to command at your whim and this type of conditioning is truly scary. How long before this same principle gets applied to the police, to security at stadiums, to anywhere? People should be avoiding planes at all costs at this point until the airlines realize that this type of Nazi behavior won't be tolerated. And for all you schmucks out there who say you don't want a bomb on board so what's a little fondling, give me your fourteen year old daughter and watch me as I put my hands ALL OVER her for ten minutes and tell me you won't be a little pissed. It's all fun and games until it happens to you. This type of crap has to stop because if a terrorist ever does get on board a plane he won't last ten seconds. He would have barely enough time to stand up, yell "ALLAH AK...." and before ever finishing that sentence, have ten people on top of them including a ten year old boy, a grandpa from Florida and a crippled person in a wheelchair, before he could utter another syllable. We got it when it comes to airline safety so how about fixing those power lines that seem to be down everywhere.



On that note, this seems to be a continuing issue here in the states and it is nothing new. An ice storm we had here a few years ago left one town in the dark for weeks, causing the power company to experience a real PR nightmare and boatload of fines. Now comes word that the same thing is happening in Ohio where after a rather routine thunderstorm, people still don't have power ten days later. Poor staffing is being blamed and a lack of preparedness, the same that we saw here. Companies are downsizing past points where they can even be sustainable so the people at the top can maintain their lavish lifestyles. Vote for any GOP candidate this fall and watch this problem get far worse. The Tea Party morons seem completely against spending, especially on infrastructure, but then cry like babies when the power goes out and they can't figure out why. Because no one is spending any money on anything you asses! Because you're more worried about the stupid deficit than keeping bridges from plummeting into the river below! A recent survey found eighty percent of people who associate themselves as Tea Party members do NOT want money spent on infrastructure. I sincerely hope it is the lot of you on that next collapsing bridge when it goes down because of your idiocy.



Then we have the banks and the LIBOR scandal which now may go back as far as the 1980's. Think of all the money lost in what can only be described as the biggest insider trading scandal of all times. Banks rigged the market, bet on the way they knew it would fall and screwed the average investor in the process who was still playing by the rules. Trillions upon trillions were gained while the average Joe got nothing but an empty bank account. I have known for years the stock market was rigged and even I was astonished at the level of greed here. As the interests rates rose or fell, millions of US mortgages were affected, especially anyone with an APR, and all credit cards.



By fixing the rate, banks were able to gain the market as they knew where the LIBOR rate would be on any given day. Using credit default swaps and knowing for a fact where the interest rate would lie tomorrow and beyond, banks were able to affect $350 trillion dollars in the derivative market with no risk. I sure would like to walk into a casino one day and know which ball the roulette wheel would spin out every time. That's exactly what the banks did. Here's some emails from Barclay's:

"Hi Guys, We got a big position in 3m libor for the next 3 days. Can we please keep the libor fixing at 5.39 for the next few days. It would really help. We do not want it to fix any higher than that. Tks a lot." (September 13, 2006, Senior Trader in New York to Submitter)"For Monday we are very long 3m cash here in NY and would like the setting to be set as low as possible ... thanks" (December 14, 2006, Trader in New York to Submitter)

"Always happy to help, leave it with me, Sir." (March 20,2006, Submitter's response to a request)"Done ... for you big boy ... " (April 7, 2006, Submitter's response to swaps trader requests for low one-month and three-month U.S. Dollar LIBOR)

Nothing to see there right? Want to know why the interest rate at every bank for savings accounts, CD's and the like has been dropping for decades? The banks have conspired to keep rates low which has lead to negative growth in these kind of formally safe havens for cash. France and Denmark are now selling bonds at a negative interest rate which makes no sense.  They are basically saying "Invest in me and lose money." Why? US bonds are no better as their rate of return is lower than the inflation rate, even the made up one the government keeps trotting out.



So because of fixing the LIBOR rate, the average investors has lost billions of dollars in total, while the ones in the know made that same amount. I believe that is called theft. Over a period of thirty years, the rate of theft is astronomical, probably into the hundreds of trillions range. Want to know where your raise went? Into bankers pockets that's where.



Most big banks make most of their money off of derivative trading with less than 10% from depositors money. So when they keep coming up with new fees, it's to offset losses on the market rather than inflation or rising costs. Most of these banks profits have come from taxpayer subsidies so we are in effect financing their gambling addiction.



The FED and SEC are in bed up to their eyeballs with the banks so don't expect any help from them. It was recently noted that many higher ups in both organizations own stock or work directly for the very companies they are supposed to be overseeing. No conflict there?



This is why I believe we should have a low that states if you want to work for the FED, SEC or any high level government positions, you should not be allowed to hold any stock for you or your spouse. The insider trading going on at these levels has got to stop and until it does, we will never be free.