Big Banks Have Criminally Conspired Since 2005 To Rig $800 Trillion Dollar Market

We noted Friday:

Barclays and other large banks – including Citigroup, HSBC, J.P. Morgan Chase, Lloyds [15], Bank of America [16], UBS, Royal Bank of Scotland [17]– manipulated the world’s primary interest rate (Libor) which virtually every adjustable-rate investment globally is pegged to.

That means they manipulated a good chunk of the world economy.

We actually understated the impact of the Libor scandal.

Specifically, more than $800 trillion dollars worth of investments are pegged to the Libor rate. As the Wall Street Journal reports [18] today:

More than $800 trillion in securities and loans are linked to the Libor, including $350 trillion in swaps and $10 trillion in loans.

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