Home / Top Headlines / The Dark Heart of the Libor Scandal
Create your free RINF account:

Create your free RINF account:

- New RINF digimag

- Daily news updates to your inbox

- Exclusive members only forum

Digimag features lost interview with Brian Haw, examines political corruption, health myths exposed & more. 

Please check your email to confirm your account!

The Dark Heart of the Libor Scandal

Mark Vorpahl  |

Though, for most, the London Inter-Bank Offer Rate (Libor) interest rate fixing scandal appears to be distant and far too complex to understand, its potential consequences may be as economically devastating as a world war.

The Libor is used to set payments on $800 trillion worth of financial instruments. It sets the prices that people and corporations pay for loans and receive for savings. Given that the fraud impacted $10 trillion in consumer loans, the Libor scandal will likely leave a long list of previous financial scandals that contributed to the Great Recession look like child’s play.

It also pulls back the curtain on the mechanisms behind the world economy, its anti-social priorities, its willingness to gamble away the future of billions of people, and the government’s collusion in these operations. The Libor scandal reveals that the “invisible hand” Adam Smith spoke of in explaining how a capitalist economy regulates itself has been transformed into the trained hand of a swindler.

Read More.

Create your free RINF account:

Create your free RINF account:

- New RINF digimag

- Daily news updates to your inbox

- Exclusive members only forum

Digimag features lost interview with Brian Haw, examines political corruption, health myths exposed & more. 

Please check your email to confirm your account!

Become a member for free

- Daily news direct to your inbox

- Free edition of the RINF digimag

- Exclusive forum access

& much more

Please check your email