FedUpUSA

LIBOR: This Should Be Front & Center In All Campaigns!

 

I’m going to say it once more.

Then I’m going to simply hoist up the “told you so” flag when this hits the Libertarian Party square in the face as the State apparatus here, and the national apparatus and Johnson’s campaign, have entirely refused to address this issue.  (As have virtually ALL the candidates in the other two parties who are currently running for election or re-election.)

As the investigation into the LIBOR interest rate-rigging in the United Kingdom becomes a financial scandal of tsunami-like proportions, some analysts are openly wondering whether 16 of the world’s largest banks have perpetrated the biggest fraud in history.

…..

Early analysis suggests that for a period of several years before and after the 2008 financial crisis, the London interbank offered rate (LIBOR) was manipulated to such an extent that a family with a $100,000 mortgage would have been $50 to $100 worse off a month because of the fixing.

$100/month per family x ~100 million families = $10 billion stolen per month in the United States alone.

Or $120 billion per year.

For several years.

In the United States alone this is quite-plausibly a half-trillion dollar heist.

And yet….. we have stony silence from Democrats, Republicans, and Libertarians.

Libertarians, who take an oath called the “Non-Aggression Principle”, which states that one does  not believe in the initiation of force to achieve political or social goals.

But as has been proved time and time again in recent years, oaths are cheap.  They’re throw-aways.  They’re political foils and the people taking them are often frauds, swearing freely that they believe in something and then intentionally turning their back on acts that would require them, under that oath, to stand and act, as doing so is politically inexpedient.

This appears to apply even when the subject matter at hand is the largest organized theft ever committed in human history.

Silence is consent and those who swear to an oath and then fail to perform as it directs are hypocrites and liars.

Those politicians and political parties who do not get in front of this and do everything in their power to call for and enforce the law, including prison time, clawbacks and dissolution of the firms involved are in fact giving active consent.

And no, I will not support those who countenance and support theft. 

I will in fact actively oppose them.

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