Barclays computer fraudBarclays has been fined $3.75 million by FINRA for “losing” over a decade of incriminating chat messages regarding Libor manipulation.
A $3.75 million wrist slap for erasing any incriminating evidence of criminal fraud sounds like a pretty good deal to us, as we suspect that the firm’s “loss” of 10 years worth of instant messaging data likely kills any serious hopes of prosecution for LIBOR manipulation fraud.

Jamie DimonIn the latest Keiser Report, Max interviews gold expert Alasdair Macleod about 400 ounce London .995 gold bars being sent to Switzerland from Arab holders and melted down to 1 kilo .9999 bars, thus moving gold from the London standard, to the new better Chinese standard – suggesting we may be entering a post-petrodollar world. In which case, petrodollars could be flowing back into NY in pure dollar form to cause high inflation. And, finally, Max and Alasdair suggest that unless you rig gold markets, your forex and libor rigging won’t work.

Nationalized Freddie Mac is reportedly suing 12 of its its bankster masters including JP Morgan, BOA, RBS, and Citi among others over $3 billion in losses tied to manipulation of LIBOR rates from 2007-2010.

The Freddie Mac suit appears to confirm what we suspected in 2012 that JP Morgan and Bank of America were simply fabricating their borrowing rates.  Why then, we might ask, has neither Bank of America nor JP Morgan Chase been charged by regulators, when banks with much less blatantly false LIBOR rates have been fined over half a billion dollars???

Bart ChiltonThe CFTC’s Bart Chilton was on CNBC’s Squawk Box today, and stated that TBTF banks must end their brazen, flagrant manipulation.
Chilton was referring to LIBOR manipulation, and specifically RBS, who has just been fined over $600 million for their role in LIEBORGATE.

While we couldn’t agree more with Mr. Chilton, we are all still waiting to see the CFTC address the alleged silver manipulation in the same manner as the already broken LIBOR manipulation scandal…rather than drag their supposed investigation into its 5th full year. (particularly after Mr. Chilton personally advised the Doc in July 2012 that he expected a resolution of the CFTC’s silver investigation and an announcement by September 2012)

Chilton’s full interview and rant on how the banks must end their brazen, flagrant manipulation is below:

US regulators are reportedly pushing for criminal charges to be filed against Royal Bank of Scotland employees over LIBOR manipulation. Perhaps they should consider investigating and filing criminal charges themselves against any and all JPMorgan and BOA employees who participated in LIBOR rate fixing, as BOA and JPM’s submitted LIBOR rates were massively more extreme compared to the benchmark than Barclay’s over the same time period.

United States regulators seeking a settlement with Royal Bank of Scotland over alleged Libor manipulation want the bank to plead guilty to criminal charges in addition to paying a penalty, the Wall Street Journal reported.

UBS has reportedly agreed to pay $450 million to settle a probe over LIBOR manipulation.  Please recall that Barclays was reprimanded by officials at the BOE for NOT manipulating their LIBOR rates as effectively as their counterparts at Goldman Sachs and JP Morgan Chase, and yet to no surprise, not a single one of the most egregious manipulators have been charged by authorities.
Supposedly Chilton, Gensler, Shapiro, and the rest of the CFTC are still investigating… at least until the story is completely forgotten by the financial MSM.

ZURICH–UBS AG (UBS) is close to a settlement with U.S. and U.K. authorities and is expected pay more than $450 million over claims that some of its employees reported false Libor rates to boost the bank’s profit, the New York Times reported Sunday, citing anonymous officials briefed on the matter.

Bloomberg has released an excellent interview with one of our favorite market commentators (and perhaps the harshest and most vocal critic of the Fed outside of Ron Paul), Jim Grant.

Grant eloquently informed Bloomberg that there are no markets anymore, only interventions:
There is a systematic manipulation of values carried out by our central banks world over.  They sit on money market interest rates, they muscle around the yield curve, and they levitate asset prices on the theory that higher stock and corporate bond prices will make us happier and more inclined to spend.

When Bloomberg’s blonde responded by asking, What’s the harm? Grant responded:
We haven’t got enough time to go through every item of harm.

Grant does go on to inform the Bloomberg hosts what he expects as a result of market manipulation/intervention to infinity by the Western Central Banks:  I am expectant that these massive and unprecedented central bank musclings and interventions are going to backfire in the shape of inflation and higher interest rates. 

Grant’s Full MUST WATCH interview below:

A group of black-tie anti-bankster activists recently crashed the Investment Banking Awards by making it on-stage and presenting Barclays executives with an award for LIBOR manipulation innovation.  Perhaps next year the activists can recognize Blythe and Jamie for innovative manipulation of the silver market.

The Investment Banking Awards are the Oscars of the financial world. Dished out for so-called ‘innovation’, some of the world’s richest bankers gather together to congratulate each other on devising ever more creative ways to make obscene sums of money.

One of 2012’s most profitable scams was the bankers’ ‘innovative’ approach to a key interest rate called LIBOR. Virtually every bank at the event was involved in illegally colluding to rig LIBOR, ensuring that they would always be the winners in the multi-million pound bets they were making on the markets.

When we noticed that this money-spinner had been overlooked in the ceremony, we decided to show up and make sure the LIBOR-riggers got the recognition they deserve.

Full clip of the activists presenting the award (and then immediately being ushered off-stage) below:

The LIBOR scandal is baaaaack as the Telegraph has discovered court documents which reveal internal messages between Royal Bank of Scotland traders whoboasted about operating a “cartel” that made “amazing” amounts of money by rigging interest rates‘.

Just when the banksters thought that had successfully removed the LIBOR scandal from the public consciousness thanks to assistance from the London Olympics, it appears the scandal is about to become greater than ever.

In this explosive interview focusing on the metals, The Doc & TF discussed the massive reduction in the cartel’s net short position in silver, the LIBOR manipulation scandal, the new downturn in the US, the manipulation of ALL markets, and physical supply issues with gold and silver.

Full MUST LISTEN interview and transcript below: