Solarbird (solarbird) wrote,

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wow, that's... bracing!

You know how I haven't posted much econ lately? And how I really get into that only when it gets really interesting? Well, if you've been reading me a while, you do, and you also know what kinds of things get me interested. If I weren't going to Clallam Bay this weekend, and on tour in Canada the week after that, I'd be working up posts tonight.

As it is, I'm going to try really hard not to look at this for the next few weeks. I haven't dug too deep yet, but this LIBOR-fixing thing that's been coming out the last week or so is very interesting. The amount stolen by this market-rigging action is staggering. We're talking tens of billions of dollars in higher mortgage interest charges in North America alone. We're talking trillions of dollars in total monetary flow affected.

We're talking breathtaking levels of theft here.

(And Zero Hedge thinks there's lots more.)

Now combine that with this. I mean, I don't blame the non-respondants; I wouldn't either. We re-fied to get further out of range of, aheh, certain companies. But US$9B is a lot to completely ignore. If people really, really start to get it...

Okay, right, I'm getting started again; must put it aside. Maybe all this will blow over. But right now, things are starting to look really, really interesting again. Do with that what you will.

Echoed via dw:ソ-ラ-バ-ド-のおん. comment count unavailable comments at Dreamwidth.

Tags: economics
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