Gilly wrote:
BARCLAYS FINED $3.75M AS 10 YEARS OF INCRIMINATING LIBOR CHAT MESSAGES “DISAPPEAR”
December 27, 2013
SOURCE: MAX KEISER
On Thursday 27 December it was reported by Reuters that Barclays “accidentally lost” 10 years of instant chat message data, over the period LIBOR was known to be rigged, killing off any serious hopes of a prosecution for USD LIBOR manipulation.
Financial campaigners have questioned whether investigations into LIBOR would confirm the presence of cartel like activity in currencies other than Japanese Yen, to which previous fines levelled against RBS, UBS, Barclays and ICAP relate.
The rest of the article is here...
www.blacklistednews.com/Barclays_fined_%...539/0/38/38/Y/M.html
Where does the money they're fined go?
Good question.
I'm assuming revenue coffers, that said where does most of that money go, surprisingly the biggest drain is pensions and thats because of the greying population growth.
Then theres the tax credits and debt payments which are prolly around 50 bilion apiece by now.
The immigrants and doleys are a drop in the ocean compared to those ofc but all this is merely propping up the banking and private sector by stealth. The more unemployed people the lower the salaries you can offer, boosted by workfare ofc, then you have tax credits propping up wages which again benefits businesses and you have debt payments benefiting bankers.
You then also have the public pension system which tops up the private pensions which also suck donkey balls.
A few million quid here and there is no skin off the bankers noses, after all, it reduces profits which means they'll be paying less taxes!!
The game is so rigged and so transparent now, its why I've lost all faith in the political process and even the entire monetary system.
TBH I fail to see how it can be fixed, its just a drug addiction that will kill us all in the end if it goes on long enough.
