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News Link • Corruption

Libor Scandal to Reveal Metals Manipulation?

• The Daily Bell
 The market for determining one of the world's key interest rates was a "cesspit" and banks cannot be trusted to be honest in several other major markets, the deputy governor of the Bank of England has warned. Paul Tucker told MPs that Barclays' abuse of the Libor system may be only one part of the banks' dishonesty over crucial financial information, suggesting that other markets should now be investigated. An official inquiry into Libor – which helps determine interest rates for householders and businesses – should be broadened to include several over markets where banks are trusted to report their own data, he said. UK Telegraph

1 Comments in Response to

Comment by Ed Price
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If you can scrape together an extra $100, buy a couple of Bitcoins. Their value with relation to the Dollar might not remain as great as it is right now - almost $47 per bitcoin at the MtGox exchange - but with the revelation that banks and bank officials cannot be trusted, bitcoin value will probably rise. Two month ago, bitcoins were selling for about $10 each compared with the $47 today. A few days ago they almost reached $50.

Why bitcoins over gold and silver? Because of the kind of manipulation gold and silver are going through.

Bitcoins are new. Big banks and bankers have not jumped on the bandwagon. But even if they do, because of the way that bitcoins are used and transfered - peer to peer, over the Internet, by non-bankers - they will probably be far harder to manipulate than gold and silver.

Get in now, while the bitcoin system is young. Spend that $100 on bitcoins. If bitcoins fail, somehow, and you lose your hundred, oh well. It won't be the first hundred lost. But if they move like they just might, up real fast (really the dollar going down), you just might be sitting on a fortune.

Who can you trust? Not the banks! And doubly so since they paint such a rosy picture that they can be trusted - your friendly bank teller is such a nice person. But holding dollars while inflation is rampant - as it has been for decades - is really loss through the devaluation of the dollar.

Three bitcoin "exchanges" where you can currently buy bitcoins by depositing cash in the bank (anonymously, if the bank doesn't ask for your info):    - some hidden fees are involved    - straight-forward, but with problems in their history    - new kid on the block, with some simple, innovative ideas

And, then, for the lists of bitcoin exchanges:

The main bitcoin site is

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