The political establishment and the media have relentlessly promoted the myth that the crisis in Detroit and in cities across the US is a product of overgenerous spending on social services and benefits,…
Tag: interest rate
The Detroit bankruptcy is looking suspiciously like the bail-in template originated by the G20’s Financial Stability Board in 2011, which exploded on the scene in Cyprus in 2013 and is now becoming the model globally. In Cyprus,…
It’s been five years since a few academics and journalists began to dig up evidence that something was wrong with the London Inter-Bank Offered Rate, or LIBOR (pronounced appropriately as “lie-bore.”) The data that curious researchers were…
WALL STREET CONFIDENCE TRICK: How “Interest Rate Swaps” Are Bankrupting Local Governments “Far from reducing risk, derivatives increase risk, often with catastrophic results” – Derivatives expert Satyajit Das, Extreme Money (2011) The “toxic culture…
Source: CNTV