Monday, December 31, 2012

Why I Won't Watch This Video

Because it has to be idiotic.

When I saw this tweet from HuffPo, I said to myself, if the video is about LIBOR or High Frequency Trading, I am not going to watch it:


So I click through and this is the headline:

Matt Taibbi: Libor Scandal Is 'The Biggest Financial Corruption Case In History' (VIDEO)

Those shouting from their laptops about LIBOR claim that the major banks manipulated world interest rates. Think about that for a minute: WORLD INTEREST RATES. It requires the printing of trillions of dollars by Ben Bernanke to just manipulate U.S. interest rates and somehow, without using a penny of real money, but by posting prices out of line with real market prices the banks, Taibbi and his types claim banksters manipulated world rates. Does Taibbi have any clue as to what supply and demand curves look like? Does he have any clue as to how difficult it would be to move the supply and demand curves for global interest rates by simply posting non-market prices. There's no doubt banksters try to con and screw each other, but this is done at the margins and has little or nothing to do with a person taking out a mortgage or buying a CD.

Bernanke manipulating the money supply is a scam.

Social Security is a Ponzi scheme.

And Obamacare is an up and coming scam.

All three of these scams will hurt millions of people for years and years--big time hurt. The LIBOR "Scandal" will do no such thing. It's the difference between a dog pissing on a hydrant and the storm surge from Hurricane Katrina and the resulting levee system that failed catastrophically. Taibbi is amazingly focused on the pissing dog.

Whatever he says in the below clip has to be garbage.


  1. Haha, can't get the video to play. It says it's blocked on this domain!

  2. They don't want traffic from informed people?