History’s Largest Financial Crime that the WSJ and NYT Would Like You to Forget
To review the bidding, the LIBOR bid rigging cartel was the largest cartel in history, manipulating the prices of an estimated $300+ trillion in assets. That is a figure considerably larger than the world’s combined GDP. … Until recently, I called the LIBOR cartels the largest in history by at least three orders of magnitude. The rigging of foreign exchange (FX) “markets,” however, is so large that that I now have to say that they represent the two largest cartels in history by roughly three orders of magnitude. Both cartels consisted of most of the world’s largest and most elite banks.
Categories: 02 China
,08 Wild Cards
Stephan A. Schwartz
As this report spells out, “By 2030, Asia-Pacific countries will comprise nearly two-thirds of the global middle class, dwarfing the projected one-fifth for Europe and North America combined.” Along with climate change this is one of the great geopolitical meta-trends that will define the 21st century. In the U.S., one has to also add The Emerging White Minority Trend. And yet you will find barely a mention of this anywhere in corporate media. Why is that do you think? Austerity economics and deregulation have virtually destroyed the American middle class, certainly made it a shadow of its former self. In those European countries which embraced Austerity Economics a similar process has been going on. At the same time India, China, the Asia-Pacific nations, are creating a middle class that will dwarf its White counterpart. Power will shift. Our intransigence concerning climate change, means leadership will go elsewhere, and will increase the speed of this transfer. We are going into a different world. And because profit is our only cultural priority, we are doing it rather badly.
5 Reasons America Should Fear the Global Middle Class
The problem is not Greece, the problem is in how the EU set up its finance and banking system. And yes, unless we get a serious reform going, the EU is likely to see economic collapse.
The U.S. And EU Will Collapse Regardless Of Economic ‘Contagion’
Never forget this: The EU is in trouble not because of Greece, but because of forced supranational interdependency. The EU by all rights should not exist, nor should any centralized supranational single currency system.
Patrick L. Smith
We restarted the Cold War: The real story about the NATO buildup that the New York Times won’t tell you
Our leaders and media push time-worn nonsense about American innocence, while taking aggressive moves. Look out
As of this week, leaders who know nothing about leading, thinkers who do not think and opinion-shaping poseurs such as Tom Friedman are confident enough in their case to sally forth with it: The Cold War returns, the Russians have restarted it and we must do the right thing—the right thing being to bring NATO troops and materiel up to Russia’s borders, pandering to the paranoia of the former Soviet satellites as if they alone have access to some truth not available to the rest of us.
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