Latest Posts
View the latest posts in an easy-to-read list format, with filtering options.
View the latest posts in an easy-to-read list format, with filtering options.
Multi-part posts on a particular topic, grouped together in "series" pages.
Look through our blog archive by year / month, or in a massive title list.
11/01/2024 - The current crisis in the Zionist state was not caused by the events of October 7, 2023, nor even... Read More
10/31/2024 - The British controlled Palestine from 1917-1947 in the aftermath of World War 1. But the rise of J... Read More
10/30/2024 - Judge Napolitano interviews Chief Master Sergent Dennis Fritz who worked with classified material... Read More
Read over 100 books written by Dr. Jones, available to read for free online. Several of the books have also been translated into different languages, and are also available to read for free. The only time you pay is when you purchase a physical version of a book.
View Full Book List
Read a variety of tracts that condense a topic into a short, single page format. These tracts can be read for free online, or physical copies can be purchased in bundles. If you are subscribed to the FFI Newsletter, you will receive new tracts when they are released.
View Full Tract List
Just in case some of you thought I was over-reacting to this scandal. It seems that I almost underestimated the problem. I stand corrected.
http://www.sfgate.com/opinion/reich/article/Wall-Street-sleaze-keeps-growing-3705814.php
Wall Street sleaze keeps growing
Just when you thought Wall Street couldn't sink any lower....
Suppose the bankers are manipulating the interest rate so they can place bets with the money you lend or repay them - bets that will pay off big for them because they have inside information on what the market is really predicting, which they're not sharing with you.
That would be a mammoth violation of public trust. And it would amount to a rip-off of almost cosmic proportion - trillions of dollarsthat you and I and other average people would otherwise have received or saved on our lending and borrowing that have been going instead to the bankers. It would make the other abuses of trust we've witnessed look like child's play by comparison.
Sad to say, there's reason to believe this has been going on, or something very much like it. This is what the emerging scandal over "Libor" (short for "London interbank offered rate") is all about....
There are really two different Libor scandals. One has to do with a period just before the financial crisis, around 2007, when Barclays and other banks submitted fake Libor rates lower than the banks' actual borrowing costs in order to disguise how much trouble they were in. This was bad enough. Had the world known then, action might have been taken earlier to diminish the impact of the near financial meltdown of 2008.
But the other scandal is even worse. It involves a more general practice, starting around 2005 (and continuing until ... who knows? It might still be going on), to rig the Libor in whatever way necessary to assure the banks' bets on derivatives would be profitable.
This is insider trading on a gigantic scale. It makes the bankers winners and the rest of us - whose money they've used to make their bets - losers and chumps.
People are supposed to go to prison for insider trading. Are they too big to fail, to big not to bail out, and too big to go to jail? Will the regulators themselves go to jail for bribery? Will the morally-challenged Justice Department step up to the plate? We will see.
Barclays has one huge advantage over the other banks. They were lucky enough to be the first ones caught. That means they get to get all the plea deals by ratting out all the other banks.
This is gonna get messy.
Dr. Stephen Jones has been writing blog posts since 2005 on a variety of topics from Bible Studies to World News, and he has been writing books since 1992. Dr. Jones' most important writings came after God brought him back into the full-time ministry in 1991. It is here that all his earlier years of searching the Scriptures began to come into clear focus. He combines a knowledge of the Old and New Testaments with a personal revelation of God that began and developed during the "wilderness" period of his life, which he often refers to as God's True Bible College... Read More
We are only able to do what we do because of your support. If you feel led to support this ministry, we deeply appreciate it
