The LIBOR fixing "scandal" was just a normal day at work

It is surprising that anybody is surprised about any of this, here's a good list of some of the financial scandals of the past two decades, I'm sure there are plenty more. It never seems to dawn on people that this is all part of the plan, it's just that every now and then they either cross the line or get found out.

What doesn't raise any eyebrows at all, is that when The Powers That Be became aware that Barclays et al were deliberately pushing down LIBOR to make the banks look more credit worthy than they were, instead of The Powers That Be doing something to stop it, they just turned it into official government policy - bailing out banks via Credit Guarantee Scheme and Special Liquidity Scheme, investing £66 billion in the most bankrupt two, reducing the base rate to 0.5% (well below inflation) etc etc.

The stuff going on at EU level is even more insane, the banks and the governments have merged into one huge cartel sloshing money back and forth at each other with absolutely no plan of how any of it is ever going to be repaid.

Even ignoring all these "scandals", there is a view that the whole nature of banking - being allowed to split the zero into a loan and a deposit and to earn money from the interest margin - is fraudulent, as this enables them to take a slice of output ("rent") without actually producing anything.

This is just how bankers work, they will never stop doing it, because they - and the landowners - are the people for whose benefit the whole country is being run. They are the main beneficiaries of and probably the main drivers behind Home-Owner-Ism; most of the business tax changes introduced by the current lot favour banks in particular and make things even worse for productive businesses. And what it all boils down to is the get-rich-quick culture, which is human nature I suppose, but in this country the get-rich-quick people are those who are worshipped and celebrated most, starting with people who boast about how much money they've made on their house.

Diamond Geezer