Berto Jongman: Legalized Financial Crime — LIBOR & Foreign Exchange Manipulation by City of London and Wall Street Excused By US & UK “Authorities”

03 Economy, 07 Other Atrocities, 10 Transnational Crime, Commerce, Commercial Intelligence, Corruption, Government
Berto Jongman
Berto Jongman

History’s Largest Financial Crime that the WSJ and NYT Would Like You to Forget

To review the bidding, the LIBOR bid rigging cartel was the largest cartel in history, manipulating the prices of an estimated $300+ trillion in assets. That is a figure considerably larger than the world’s combined GDP. … Until recently, I called the LIBOR cartels the largest in history by at least three orders of magnitude. The rigging of foreign exchange (FX) “markets,” however, is so large that that I now have to say that they represent the two largest cartels in history by roughly three orders of magnitude. Both cartels consisted of most of the world’s largest and most elite banks.