The $800 Trillion Scandal: How Banks LIBOR Lies Affected You Posted by Jerrald J President on July 9, 2012 at 11:20 PM dailyfinance/2012/07/09/the-800-trillion-scandal-how-banks-libor-lies-affected-you/ jerraldpresident.info// “By messing with the LIBOR benchmark rates that are tied to an estimated $800 trillion of securities, the offending banks essentially played with matches in the middle of the worlds largest house of leveraged cards. The combined gross domestic product of all the nations of the world is only about $70 trillion, so the towering mountain of LIBOR-connected securities out there climbs into the realm of leveraged derivatives like those that nearly brought the global financial system to its knees at the height of the 2008 credit crisis”. WTH is $800-Trillion dollars? If the entire world’s economy is only $70-Trillion, how do you get to $800-Trillion dollars? Wake up world the economic terrorist in London and New York are going in for the kill! By JJP
Posted on: Tue, 25 Mar 2014 21:57:08 +0000
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