LIE. BORE.

The LIBOR scandal is so annoying precisely because it is NOT a scandal.  It is stale news, dressed up as a scandal, masquerading as a big deal.

We knew in 2008 – 2009 the rates were fixed.  And that’s what central banks do for a living.  The mainstream are getting hold of this now for reasons I don’t understand.  They want something to be done now.  But what?  And why?

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