Libor still manipulated and rigged
There is no need for hard evidence to come to the conclusion that the Libor still is manipulated/rigged (BBC source). Insiders report that Libor rate manipulations are still being run. The reason is that nothing in the system has been changed, that made the manipulations possible and the consequences for the banks are laughable. In The New York Times you find a clear sketch how the Libor is fixed.källa
1. Fines are pocket money and self produced out of thin air
"EU imposes record 1.7bn euro fines on major intl banks over rate-rigging" reports Russia Today. "Libor scandal: EU slaps six banking giants with $2.3-billion fine, biggest penalty yet for rigging lending benchmarks" writes Finacial Post. "Libor Fixing Scandal: US Hits RBS with $50m Criminal Fine" informs International Business Times. This sounds high but compared to the unlawful gains it's peanuts. Nobody knows how much the banks earned on cheating people all over the world since 1984, when the Libor was introduced. What is never discussed is, that the banks create their fines themselves, out of nothing. That's why the "huge" Libor fines are just smokescreen.
2. No criminal prosecution against top bankers
"The Failure To Punish Wall Street Criminals Is The Core Cause Of Our Sick Economy
U.S. Attorney General Eric Holder said:
I am concerned that the size of some of these institutions [banks] becomes so large that it does become difficult for us to prosecute them when we are hit with indications that if you do prosecute, if you do bring a criminal charge, it will have a negative impact on the national economy, perhaps even the world economy
Because of the fact that the Libor fines are low and self produced the only really effective sanction would be criminal punishment for the highest-ranking banksters. But that never happens, but it should!
3. Regulators knew about Libor rigging and slept
"New York Federal Reserve knew about Libor manipulation four years ago" reported The Denver Post. "Thanks to the New York Federal Reserve, we now know that both the Fed and the Bank of England could see and were being told that something was awry with the London interbank offered rate (LIBOR) already in late 2007." is the complaint of Time Business & Money. "Regulator Slept as Rabobank Rigged Libor, Lawmakers Say" warns Bloomberg.
Why that? The FED (private owned) and all the other regulators are controlled by the same banks that rig the Libor, because those have most money collected from their fraud with Libor and the banking Ponzi scheme in general.
4. Politicians fail to get control over the Libor
5. Control over Libor fixing using self-certification not possible
A daily conference call between a handfull of Big Banks is fixing the Libor rate. It's a self-certification system. It's obvious that the lack of outside control invites to abuse. Such an important instrument as the Libor should of course be under public control. As long as the Big Banks fix the Libor themselves without control they remain to manipulate. Nobody is able to stop them, because they are and have the ultimate power on this planet. That must be changed immediately. Otherwise the "The Biggest Financial Scam In World History" will proceed and damage all countries, municipalities and people.