A scandal over rate-fixing is about to hit the US
© Phil Noble / Reuters / REUTERS
A branch of Barclays bank is seen in northern England.
It may seem like just another obscure banking scandal at a 322-year-old British bank, but there are a number of good reasons why you should care about the LIBOR rate-rigging scandal now roiling the world’s biggest and most powerful banks, including that it probably cost you money if you own a mortgage.
In late June, Barclays paid $453 million to regulators in the U.K and the U.S. to settle accusations that it had tried to influence LIBOR, or the London interbank offered rate -- a benchmark interest rate that affects the price at which consumers and companies across the world borrow funds.
The rate, which is fixed via a poll of banks by the British Bankers’ Association, an industry group in London, is the benchmark for setting payments on some $360 trillion worth of financial instruments, ranging from credit cards to more complex derivatives, such as futures contracts.
The potential scope of the unfolding scandal, now acquiring global significance, is enormous. Other banks that have disclosed that they are under investigation for LIBOR manipulation include big U.S. banks, such as Citigroup and JPMorgan Chase, and also HSBC, Deutsche Bank and the Royal Bank of Scotland.
Comments
NESARA?
why should we be worried about a banking scandal hitting the US?
Is not NESARA going to negate all debt?
Is not the banking system being intentionally imploded to bring about the new banking system backed by precious metals?
I cannot find the congruity between what you preach and what you post.
Your post is a 3d fear based article. YOUR INTENTIONS ON POSTING THIS CREATE FEAR FOR THE HOMEONWNERS!
"...it probably cost you money if you own a mortgage."
YOUR CONVICTIONS ABOUT HOLDING THE LIGHT AND FOCUSING ON THE GOOD SEEM TO CONTRADICT..AS YOU HAVE PREVIOUSLY STATED..
"Is this the way you keep focusing on Love and the best outcome? Each time one does focus on such things, it bring them into their Life."
NESARA
I think what you are missing here is that in order for NESARA to take place, this scandals have to be reported and the Mass Arrests have to take place BEFORE NESARA actually happens....
This is a GOOD kind of fear, because its waking people up who are still asleep and sheeples for the dark cabal. Once people REALLY see whats going on, through the media, that's when everything will fall into place.
Namaste
You should discern the source
You should discern the source it comes from. This is a Main Stream Media article talking a MSM language. It simply shown what's being reported in the MSM world.
The reason we post it is to show how things are reported in that world. Our Mission is to include all information. The source is always mentioned so it should not be difficult to tell the difference. In order to bring Heaven on Earth we also need to know what's going on on Earth as a Whole to better understand the Whole picture and shine the Light for every=One.
Blessings