International Banking Actuality Part 37

  • Aired:  07/18/12
  •  | Views: 62,163

Banks submit false data to manipulate the Libor interest rate, either for the good of the entire economy and all of mankind, or possibly to just benefit themselves. (5:05)

>> Jon: WELCOME TO "THE DAILY SHOW," MY NAME IS JON STEWART!

WE'VE GOT AN EXCELLENT... WE HAVE AN EXCELLENT EPISODE FOLLOWING, OBVIOUSLY, WHAT WAS A

WONDERFUL ENCOUNTER SESSION WITH THE AUDIENCE.

(LAUGHTER) WHERE I THOUGHT WE LEARNED A LOT ABOUT EACH OTHER.

(LAUGHTER) MY GUEST TO WANT THE GREAT SIGOURNEY WEAVER, THE SHOW "POLITICAL ANIMALS."

SHE PLAYS A NEO-CON PAN SDA.

(LAUGHTER) NO?

THAT'S... THAT'S NOT THE SHOW.

YOU HAVE TO ADVOCATE MITT THAT'D BE A PRETTY (BLEEP)ING SHOW.

NEO-CON PANDAS.

TONIGHT WE START WITH OUR CURRENT ECONOMIC WOES.

WE ALL KNOW WHERE TO PLACE THE BLAME FOR OUR WOES.

>> MORE REGULATION WILL STRANGLE THE PRIVATE SECTOR.

>> STATES ARE GOING BUST AND CITIES ARE GOING BUST.

THEY'RE IN DIRE FINANCIAL SHAPE BECAUSE OF PUBLIC SECTOR UNIONS.

>> THE UNCERTAINTY FACING SMALL BUSINESSES ARE CRIPPLING JOB CREATION IN OUR COUNTRY.

>> Jon: GOT IT!

(LAUGHTER) TOO MUCH REGULATION, GLEDY PUBLIC SECTOR UNION PENSIONS.

UNCERTAINTY.

(LAUGHTER) THE STALLION OF THE FREE MARKET CANNOT RUN WILD WHILE SADDLED

WITH THESE PROGRESSIVE SACRED COWS FEEDING AT THE TROUGH OF...

I...

(LAUGHTER) I WENT TO A FARM OVER THE BREAK.

(LAUGHTER) IT WAS A PETTING ZOO.

(LAUGHTER) IT WAS A KENTUCKY FRIED CHICKEN.

(LAUGHTER) LOOK, MY POINT IS THIS: WHY YOU GOTTA MESS WITH BUSINESS?

YOU GOTS TO LETS BUSINESS BE BUSINESS IF YOU WANT THE ECONOMY TO PROSPER.

ALTHOUGH THERE IS ONE OTHER ISSUE THAT ALSO SEEMS TO BE CAUSING SOME ECONOMIC DISTRESS

I'VE BEEN HEARING ABOUT RECENTLY.

>> LIBOR.

>> LIBOR.

>> THE LIBOR RATE.

>> Jon: (AS JERRY LEWIS) THE LIBOR RATE WITH THE LIBOR.

WHAT IS THAT?

THE PERCENTAGE OF MONEY THAT MUST BE SET ASIDE FOR GOVERNMENT WORKERS' RETIREMENT ACCOUNTS

THAT HAVE SLOWED GROWTH?

IS THAT LIBOR?

I'LL WRITE DOWN WHAT I THINK LIBOR IS AND THEN YOU TELL ME.

>> IT'S THE INTEREST RATE THAT THE WORLD'S BIGGEST BANKS CHARGE

EACH OTHER TO BORROW MONEY.

>> Jon: OKAY, I DO NOT THAT V THAT.

(LAUGHTER) I WAS DRAWING THE MYTHICAL HALF WILD BOOR HALF LION.

(LAUGHTER) THAT WAS RUMORED TO HAVE KILLED ACHILLES' BROTHER JIMMY.

(LAUGHTER) THE GREEK.

(LAUGHTER) LIBOR IS THE RATE THAT BANKS USE WHEN LENDING MONEY TO EACH OTHER.

AND SO LIBOR BECOMES THE BENCHMARK FOR, REALLY, ALL MONEY LENDING ON, LET'S SAY, EARTH.

CREDIT CARDS, STUDENT LOAN,

ADJUSTABLE RATE MORTGAGES.

IF YOU SEE A NUMBER OUTSIDE THE BANK'S PLACARD WITH BALLOONS TIED TO IT IT HAS BEEN SET IN

SOME WAY BY LIBOR.

SORRY, I INTERRUPTED YOU.

>> THIS LIBOR RATE WAS MANIPULATE BADE NUMBER OF BANKS DURING THE FINANCIAL CRISIS.

>> Jon: WHAT AN ATTRACTIVE YOUNG... WAIT, WHAT DID SHE SAY IN (LAUGHTER)

VERY SWEET LADY JUST DELIVERED TERRIBLE NEWS!

I'M GOING TO NEED TO SEE SOME VERY CONCRETE EVIDENCE THAT BANKS KNOWINGLY AND DELIBERATELY

SUBMITTED FALSE LIBOR RATES.

>> BUT WHAT WE'RE NOW SEEING VERY CONCRETE EVIDENCE OF IS

THAT THE BANKS DELIBERATELY AND KNOWINGLY SUBMITTED FALSE DATA.

(LAUGHTER) OKAY, THE BANKS SUBMITTED FALSE DATA.

PROBABLY FOR THE GOOD OF THE ENTIRE ECONOMY, AS A LIQUIDITY ENHANCEMENT THAT SERVES ALL OF

MANKIND AND...

>> ...TO BENEFIT THEMSELVES.

(LAUGHTER AND APPLAUSE)

>> Jon: BANKERS!

NEVER TRUST ANYTHING THAT RIMES WITH WEST BANKERS.

(LAUGHTER) YOU MAY BE THINKING, HOW DO YOU MANIPULATE THE WORLD'S MOST

CENTRAL KEY INTEREST RATE?

PROBABLY GOT TO GO CRUISE "MISSION IMPOSSIBLE" DROP IN WITH A LASER SECURITY SYSTEM AND

HACK IN USING REMOTE CONTROL NANO TECH SPIDER DRONES.

OR...

>> IT'S ARRANGED BY A TRADE GROUP OF BANKS IN LONDON EVERYDAY AROUND LUNCHTIME IN

LONDON ABOUT 16 BANKS SUBMIT TO THE BRITISH BANKERS' ASSOCIATION

DAY THAT THAT IS AN ESTIMATE OF HOW MUCH IT WOULD COST THOSE BANKS TO BORROW FROM EACH OTHER.

>> Jon: YOU KNOW, THERE ARE ALL THESE CONSPIRACY THEORIES ABOUT

THE WORLD'S FINANCIAL SYSTEM BEING CONTROLLED BY SIX ILLUMINATI MEMBERS IN THE

BASEMENT OF THE VATICAN.

Loading...