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Libor Scandal Reflects a Cesspool of Financial Fraud


By Stephen Lendman - Posted on 07 July 2012

  Libor Scandal Reflects A Cesspool of Financial Fraud

 

by Stephen Lendman

 

At issue is a bad barrel, not a few rotten apples. Western banking is rife with fraud. The business model of major banks is grand theft.

 

UK-based Barclays bank was caught in a Libor rigging scandal. Other major banks are involved. Expect more to come out. How much and who's named remains to be seen. More on that below.

 

Libor and Euribor are mechanisms used to set interest rates.

 

Euribor stands for the Euro Interbank Offered Rate. It's one of the reference rates for interbank lending.

 

Libor is the acronym for London Interbank Offered Rate. It's a fundamental rate-setting benchmark. It's set daily between UK banks for overnight to 12 month durations.

 

It's produced for ten currencies with 15 maturities. It represents the London market's lowest cost of unsecured funding. It's the primary global short-term rate benchmark. 

 

Since the 1980s, it expanded exponentially in importance. London's status grew as an international financial center. It's the world's largest. 

 

Over 20% of all international bank lending occurs there and more than 30% of all foreign exchange transactions. 

 

Over 240 of the world's largest banks operate key parts of their international business there. It's the world's "cowboy finance capital," says economist Jack Rasmus.

 

In the 1980s, libor began growing in importance. Demand grew for an accurate measure of the real rate at which banks and other financial institutions could borrow from each other.

 

It affects the price and availability of capital. The higher Libor goes, the greater the borrowing cost for business, individuals, real estate and other loans.

 

Libor anchors contracts for multi-trillions of dollars. One analyst said it's like plumbing. When working well, it isn't noticed. When not, all hell breaks loose.

 

It's a vital factor in the interest rate swaps market. These contracts let one bank or other organization pay a fixed rate of interest on a given amount of money from another financial institution.

 

In turn, it pays a floating rate like Libor. The global swaps market approaches $350 trillion. 

 

According to the Bank for International Settlements:

 

"(I)nterest rate swaps are the largest component of the global OTC derivatives market."  

 

"The notional amount outstanding as of June 2009 in OTC interest rate swaps was $342 trillion, up from $310 trillion in Dec 2007."  

 

"The gross market value was $13.9 trillion in June 2009, up from $6.2 trillion in Dec 2007."

 

In theory, it lets lenders and borrowers minimize the risk of interest rate changes. It doesn't always work that way.

 

Nonetheless, without a mechanism in place, banks might not lend at fixed rates. They pay depositors floating ones. If rates rise, so do costs. If they exceed revenues, crises follow.

 

Predatory Capitalism Failed

 

Rodney Shakespeare is Professor of Binary Economics at Trisakti University, Britain. He's a financial expert. He's a regular on the Progressive Radio News Hour.

 

He said Libor rigging affects "a thousand trillion dollars" in contracts of one sort or other globally. It exceeds global GDP 15 or 20-fold.

 

Barclays reflects a corrupt system. Other major banks operate the same way. Western politicians permit it. "They uphold the doctrine that whatever banks do is right."

 

They're failing. They're zombie banks. The entire system is corrupt. It's crumbling. Barlays is in the center of the UK storm, but watch out. Expect more globally, much more. It's coming.

 

The seriousness of what's known is that a system portrayed as just and sound is failing. At issue is rampant speculation at the expense of stimulating real economic growth.

 

Casino capitalism doesn't work. Economies suffer. So do ordinary people. The entire banking system risks collapse. Buying time alone is possible. Barclays is part of a far greater unresolved problem.

 

John McMurtry calls it the cancer system. The longer it goes unaddressed, the worst things get. "Organic, social and ecological life" harm grows.

 

Life-system collapses define the problem. Societies are consumed. Humanity suffers.

 

The system is too corrupt to fix. At issue is clearing it out and replacing it with an entirely new paradigm. 

 

Central bankers and complicit politicians bear full responsibility for what's happening. They're heading economies for a worse disaster than the Great Depression.

 

As stated above, Western banking is rife with fraud. One scandal follows another. The latest involves Libor rigging. It's not new.

 

Last February, the Wall Street Journal headlined "Traders Manipulated Key Rate, Bank say," saying:

 

According to an Ottawa court filing, "Canada's Competition Bureau said a bank it didn't identify has told the agency's investigators that people involved in the alleged scheme 'were able to move' interest rates."

 

"People familiar with the (scheme) said the 'cooperating party' is (Switzerland-based) UBS AG."

 

An investigation affected banks and traders in North America, Europe and Asia. No one was charged with wrongdoing.

 

At issue was Libor rigging. 

 

Documents said regulators were also examining "alleged attempts to fix the prices of certain derivative financial products linked to Libor." 

 

Parties involved "entered into agreements to submit artificially high or artificially low" quotes.

 

Traders "used emails and instant messages to tell each other whether they wanted 'to see a higher or lower yen Libor (rate) to aid their trading position(s),' according to court documents."

 

Traders "would then 'communicate internally' with the person at their bank who was responsible for submitting the Libor quote, before letting each other know if this attempt to influence the quote had worked."

 

The Canadian watchdog said six banks were involved: Citigroup, Deutsche Bank, HSBC, JP Morgan Chase, Royal Bank of Scotland, and UBS.

 

All major banks commit grand theft. It's standard practice. Corrupt politicians turn a blind eye. So do regulators. Western banking is rife with fraud.

 

All markets are manipulated up or down for profit. Enormous amounts are made. Governments and banks collude. High volume program trading drives prices either way. Nothing gets reported unless scandals erupt. 

 

None the wiser ordinary investors get trampled. Financial history includes many examples of major financial institutions getting a free lunch at the public's expense. 

 

Methods include market manipulation, insider trading, front-running, theft and conspiracy, misrepresentation, Ponzi schemes, false accounting, embezzling, appointing industry favorites as regulators, tax frauds, profiting from loans that fail, creating phony financial products, and assuring world financial capitals are banker occupied territories.

 

Barclays is the tip of the current scandal. Traders in London, New York and Tokyo colluded to manipulate Libor. Top executives and traders are involved.

 

They bear full responsibility for the 2008 financial crisis and what followed. They're up to their ears in fraud today. Media scoundrels report an illusion of stability. Government probes are toothless.

 

A City of Baltimore/Charles Schwab et al class action lawsuit names Barclays, RBS, HSBC, Bank of America, Citigroup, JPMorgan Chase, UBS and Deutsche Bank.

 

Perhaps future suits will charge Goldman Sachs, Wells Fargo, and major European banks not named above. They're all in it together. CEOs and other top executives conspire with each other and traders to commit fraud. Why not when corrupt politicians wink and nod and let them do it.

 

Bill Black says manipulating Libor is easy. What's coming out reflects "the largest rigging of prices in the history of the world by many orders of magnitude."

 

Top executives are directly involved. They have to be because they set policy and stand to gain hugely from fraud-driven profits.

 

The US Commodity Futures Trading Commission (CTFC) says:

 

"US dollar Libor is the basis for the settlement of the three-month Eurodollar futures contracts traded on the Chicago Mercantile Exchange, which had a traded volume in 2011 with a notional value exceeding $564 trillion."

 

The Wall Street Journal estimates $800 trillion. These type numbers are unfathomable.

 

The Financial Times headlined "Barclays boss discussed Libor with BoE," saying: 

 

"The bank admitted that it lowballed estimates of its borrowing costs from late 2007 to May 2009 because it wanted to reassure investors of its strength during the financial crisis and it believed other banks were doing the same." 

 

"It also admitted that its traders improperly influenced the rate submissions from 2005 to 2008 to make money on derivatives."

 

On the one hand, said Barclays, rogue traders committed fraud. On the other, bank executives submitted lower daily Libor rates than true costs to assure higher profits.

 

In the wake of the scandal, Chairman Marcus Agius and CEO Bob Diamond resigned. They and other banking crooks should be prosecuted and imprisoned. 

 

Since banker caused crisis conditions erupted in fall 2007, no senior executive faced charges. Expect none now to be held criminally liable. At most complicit banks are assessed hand-slap fines. They're then free to steal again. It's standard practice.

 

On June 30, London Guardian writer Will Hutton headlined "Let's end this rotten culture that only rewards rogues," saying:

 

"The Barclays rate-rigging scandal has once again exposed a world where men and women with little skill and no moral compass can become very rich very fast."

 

"Investment banking is an organised scam masquerading as a business. It is defined by endemic conflicts of interest, systemic amoral behaviour and extreme avarice." 

 

"Many of its senior figures should be serving prison sentences or disgraced – and would have been if British regulators had been weaned off the doctrine of 'light touch' regulation earlier and if the Serious Fraud Office’s budget had not been emasculated by Mr. Osborne (UK Chancellor of the Exchequer)." 

 

"It is a tax on wealth generation and an enemy of honest endeavour – the beast that is devouring British capitalism."

 

It's far more than Britain, of course. It's global, unchecked, and hugely destructive. Regulatory oversight is absent. Mary Schapiro heads America's SEC. 

 

She turns a blind eye to fraud and abuse. She protects Wall Street, not investors. She lets banks self-regulate, and why not. She's a consummate insider.

 

As former head of the Financial Industry Regulatory Authority (FINRA), she promoted self regulation. She also ran the the National Association of Securities Dealers' (NASD) and Commodity Futures Trading Commission. She's an expert at quashing fraud investigations.

 

So are UK Financial Services Authority (FSA) officials. Instead of regulating, they collude. Political leaders from major parties are involved. Duopoly power runs Britain and America. 

 

Tories, New Labor, Republicans and Democrats prioritize what serves bankers. The economies of both countries are financialized. Casino capitalism runs them. Whatever bankers want they get. Stealing is legitimized without saying so.

 

Whitehall and Washington operate the same way. They facilitate fraud. It's institutionalized. 

 

Politicians profit hugely from generous campaign contributions and high-paying jobs when leave government. Central bankers know what's going on and fuel it with bailouts and easy money.

 

On July 1, the London Telegraph headlined "Libor scandal: How I manipulated the bank borrowing rate," saying:

 

"An anonymous insider from one of Britain's biggest lenders – aside from Barclays – explains how he and his colleagues helped manipulate the UK's bank borrowing rate. Neither the insider nor the bank can be identified for legal reasons."

 

He gave presentations. He explained how Libor was rigged. It's easy, he said. No checks exist. Penalties for getting caught hardly matter.

 

"(E)veryone" knows what's going on and "everyone" does it. Fraud is part of the system.

 

A Final Comment

 

Ellen Brown describes a "Wall Street Protection Racket of Covert Derivatives....Prop(ing) Up US Debt," saying:

 

"Interest rate swaps are now over 80 percent of the massive derivatives market." Wall Street giants operate a "protection racket of a covert derivatives trade in interest rate swaps."

 

"The derivatives casino itself is just a last-ditch attempt to prop up a private pyramid scheme in fractional-reserve money creation, one that has progressed over several centuries through a series of “reserves”—from gold, to Fed-created “base money,” to mortgage-backed securities, to sovereign debt ostensibly protected with derivatives."

 

Libor is a vital factor in the swaps market. The cost of money affects them all. Privately created money at whatever interest rate bankers set "is the granddaddy of all pyramid schemes."

 

Despite "a quadrillion dollar derivatives edifice propping it up," eventually it'll collapse. Money power in public hands could prevent it. It's "ready to replace the old system when it comes crashing down," says Brown.

 

Corrupt politicians won't return money control to public hands where it belongs ahead of time to avoid it. 

 

They benefit handsomely by standing pat. Why mess up a good thing by becoming honest.

 

Stephen Lendman lives in Chicago and can be reached at lendmanstephen@sbcglobal.net. 

 

His new book is titled "How Wall Street Fleeces America: Privatized Banking, Government Collusion and Class War"

 

http://www.claritypress.com/Lendman.html

 

Visit his blog site at sjlendman.blogspot.com and listen to cutting-edge discussions with distinguished guests on the Progressive Radio News Hour on the Progressive Radio Network Thursdays at 10AM US Central time and Saturdays and Sundays at noon. All programs are archived for easy listening.

 

http://www.progressiveradionetwork.com/the-progressive-news-hour

It is becoming more and more obvious, how ABSURD the notion and central class myth of all  class systems is, namely that they represent a social unity and civil society that is based on social power and social justice.  In fact, class systems represent parasitical ruling classes and shore up this injustice with parasitical class hierarchies, that develop deliberately, partial and divisible middle layers into mercenaries, shock troops, class whores, and class shills/thugs by fracturing their inherent social, middle postion, into a subordinated, class position serving all class systems.  Historically, such a class mechanism destroyed, deformed social power and social justice that can only exist if there is social control over civil society producing social agencies that have control over wealth and labor.   Those fully balanced, developed middle layers are indivisible, independent from class forces and class hierarchies, no matter what level of technical and productive level exists, whether it was the social Matriarchy or the Social Enlightenment.   The Social Matriarchy, with its low levels of productive wealth relations called  primitive communism helped humanity to survive because it had social control over its clans, and this social principle would become, milleniums later, in the social ideas of the Social Enlightenment, proclaiming the need for the same indivisible, independent, fully balanced middle classes, whose inherent historical role, social agenda, was to dissolve the class hierarchies, thus destroying 5 milleniums of class history and its Patriarchal class mechanism.  


The class deformed Human nature was deliberately mislabled by the Patriarchy, through its religious class myth, The Garden of Eden and"original sin," to hide their own historical class role, in enslaving Humanity through its class hierarchies, with its partial, corrupted middle layers.    To end the distopia, class corruption by ALL class systems, the world must turn right side up the Patriarchal class mechanism, thereby  restoring, reconstructing the social historical mechanism, that makes social power, social control, as it was in the Social Matriarchy, an automatic, de facto, and permanent, outcome.  The world must rid itself of the notion that class parties, class politicians must represent social classes, BECAUSE IN FACT THEY CANNOT, as Elephants cannot birth kittens.   Only social parties with a social agenda, whose social principle was part of the Social Matriarchy and  linked to Social Enlightenment ideas, can dissolve all class hierarchies, breaking Patriarchy and class history into oblivion, and therefore, truly represent social power, social justice and become truly independent, indivisible forces.  We must end  the permanent class systems with their totalitarian, Orwellian class principles, threatening Humanity and the world with global slavery, permanent war and global Fascism, by inverting, the inverted totalitarianism, of class history, back on its feet, to its true social Human nature: 


Live From TPP San Diego: The Whores of the 4th Estate. WHAT MEDIA?!


http://www.opednews.com/articles/Live-From-TPP-San-Diego--by-Brett-Redmayne-Tit-120706-124.html


excerpt:


"Where's the Press?!!"


Any political reporter in this modern apocalyptic world, must, by obligation, be the rival of their media counterparts who, either represent and defend scoundrel media, or gladly present the facts adverse, or deliberately left out, by their rivals' allegiance to an opposite moral agenda. All journalists are emissaries of the first amendment because we are the rivals of power, greed, corruption, hypocrisy and lies. Today, truth must be the rival of Main Stream Media.


From the Iraq war to the NDAA, from the Patriot Act to the current fraudulent news about Syria; from the lies about Iran's nuclear program to zero coverage of the American domestic drone surveillance program; and from NAFTA to ( Trans Pacific Partnership) TPP ,it is what the Media deliberately leaves out that is the BIG lie. Certainly, The New York Times has been discredited many times in recent years for fraudulent reporting and is no longer the nation's Newspaper of record. Rival journalists proved that. Truth is partly missing from MSM coverage, or the story is not covered at all. Such is the case here at TPP. This supports lies and hypocrisy and makes MSM the adversary of true journalists. The ones   who still seek, and offer, the whole truth..."


THE CLASS LIBERALS OVER AT NPR RADIO HAVE ALSO DEGENERATED INTO SUPPORT FOR CORPORATE, EMPIRE FASCISM.  GLENN GREENWALD EXAMINES THESE CORRUPT, CLASS SHILLS/MERCENARIES, MANY OF THEM ZIONIST APOLOGISTS, "TERRORIST EXPERTS" DEFENDING FASCISM, MORPHING, DEGENERATING, DEVOLVING THEMSELVES AND THE DEMOCRATIC PARTY AS FASCISTS THEMSELVES:


 


Various matters


Peter Bergen's drone propaganda; State Department admission on human rights; unpopularity of NATO's Libya war














 

Ignorance helps racism, Fascism, especially the Fascist Tea bagger know nothings, who falsely equate totalitarian markets with "Free markets" , just as the class thugs, Obama, defends fascist secret trade talks, and fascist, criminal foreign policies, war crimes, and War criminals.   We must expose these DIVISIBLE, SCAPEGOATING YAHOOS, FASCIST, REDNECKS, SHOCK TROOPS FOR FASCIST CAPITALISM AND GLOBAL FASCISM.  We must take down their FASCIST MATRIX, divide the FASCIST SHOCK TROOPS, ourselves by exposing their idiocy, immorality, amorality , with CLEAR LOGICAL , MORAL, SOCIAL OUTCOMES, that can embarrass them for being class thugs/mercenaries for the SECOND AXIS OF FASCISM, U.S. /NATO/ISRAELI FASCISM.   We must expose their non sensical, up side down arguments, and point out who the real terrorists are, OUR STATE TERRORIST, FASCIST EMPIRE and its mercenary fascist yahoo/know nothings.   They must be OVERCOME with IDEOLOGICAL SOCIAL ARGUMENTS, to avoid another NAZI GERMANY, FASCIST CAPITALISM, WESTERN FASCISM:  THE REAL WAR CRIMINALS ARE WESTERN ELITES, NOT ITS WHISTLEBLOWERS WHO EXPOSE THEIR NAZISM, FASCISM!!!!!


Who Is So Hell-Bent On Getting Assange?


http://www.opednews.com/articles/Who-Is-So-Hell-Bent-On-Get-by-Paul-Sedkowski-120706-881.html


excerpt:


Julian Assange is not a US citizen, and yet some influential Americans are calling him a "traitor" and trying to pin "espionage" on him. WikiLeaks has published information about virtually all the major governments and corporations around the world, and yet he's portrayed as specifically "Anti-American," without a shred of proof to that effect. He's a publisher, yet they insist on calling him a whistleblower. He's an eloquent advocate for transparency in government, and yet they call him a terrorist. Even though his (carefully redacted) WikiLeaks releases haven't seriously harmed any of the wrong-doers they exposed (sort of makes you wonder why, doesn't it?), he's nevertheless accused of having blood on his hands! So why is America so dead set against him? Methinks the lady doth protest too much.


Hell Hath No Fury...


And as if all that wasn't enough, Assange has been accused by two one-night-stand lovers (furious, once they found out about each other) of having unprotected sex with them. This, in the media's eyes is enough to decry him as a "sex offender" and occasionally even - get this - gay!. Because that's what gay people do - have sex with multiple partners of the opposite sex. Hence the gaiety.


And yet, he's not been charged with any crime - sexual or otherwise - and is, ostensibly, "only" wanted for questioning. He immediately agreed to the questioning. In the UK. But they ignored that request. When he previously showed up for questioning - in Sweden - they released him without charge, dismissing the case as meritless.


But that was then. Soon afterwards they wanted to question him so badly they even issued a European Arrest Warrant for him, and placed him under arrest which has been going on for well over 500 days. No trial, no discussion, just brute force and endless hypocrisy. Still think Assange's persecution is not politically motivated? Wanna buy a bridge?


Meanwhile prominent pundits and even politicians in the US call for his... assassination! Kinda makes you wonder, doesn't it?   And for all of Assange's trials and tribulations, the mainstream media - who have previously been only too happy to publish the scoops his organization unearthed, happily taking credit for the real journalism which wasn't of their doing - now pile onto him a daily dose of slurs and accusations which would make even Osama bin Laden blush, deep under water where he's said to have found his new home.




 


None of the above adds up. Someone's got it in for Assange, and it's got nothing whatsoever to do with the law. Not a goddamned thing. But who?


Red-Handed But Not Red-Faced


Even the most brainwashed among the American and the international public, if given but a cursory outline of all the known facts, might struggle to understand the manic fervor with which Assange is being persecuted. Could it really be that the US wants to punish him so badly for merely publishing low-level secrets which he didn't steal, and which - as has already been demonstrated - haven't caused even a tiny fraction of the mayhem and bloodshed they were supposed to have unleashed?


Unlike Bradly Manning, who is at least a US citizen and in whose case the US may, arguably, have valid legal arguments for prosecuting him (though not torturing and persecuting, as they have done), Julian Assange should be totally in the clear. He's only exercised his right of freedom of speech in a Free World. He's certainly not abused that freedom, but rather has done everyone a Nobel-Prize-worthy favor. Quite unlike some other Nobel Prize winners I could mention...."


YES, THE NOBEL PEACE PRIZE COMMITTEE GAVE A PEACE AWARD TO A WAR CRIMINAL WORSE THAN BUSH......OBAMA, JUST AS CLUELESS AS THE FASCIST ELITES AND THEIR YAHOO FASCIST MERCENARIES.   OF COURSE MERCENARIES CAN COME BY WHOLE NATIONS, FASCIST PROXIES, LIKE ISRAEL WHICH JOINTLY REPRESENTS THE WESTERN FASCISM, TOTALITARIAN FACE OF GLOBAL LATE CAPITALISM.   ISRAEL, LIKE ALL OTHER CLASS STATES IS A FAILED, CORRUPT, FASCIST STATE THAT MURDERS AROUND THE WORLD LIKE THE U.S. FASCIST EMPIRE.  THE WHOLE HISTORY OF CLASS SYSTEMS IS ITSELF A FAILURE FOR THE SOCIAL CLASSES HAVING BEEN ENSLAVED, CO OPTE, CORRUPTED TO SERVE PARASITICAL FASCIST THUGS:  AN ISRAELI POINTS OUT THE NAZISM OF ARIEL SHARON AND NETANYAHOO AS FAILED, TOTALITARIAN FASCIST THUGS:


Poisoning Arafat


http://www.opednews.com/articles/Poisoning-Arafat-by-Uri-Avnery-120707-620.html


excerpt:


"FOR ME, there was no surprise. From the very first day, I was convinced that Yasser Arafat had been poisoned by Ariel Sharon. I even wrote about it several times.

It was a simple logical conclusion.


First, a thorough medical examination in the French military hospital where he died did not find any cause for his sudden collapse and death. No traces of any life-threatening disease were found.


The rumors distributed by the Israeli propaganda machine that Arafat had AIDS were blatant lies. They were a continuation of the rumors spread by the same machine that he was gay -- all part of the relentless demonization of the Palestinian leader, which went on daily for decades.


When there is no obvious cause of death, there must be a less obvious one.


Second, we know by now that several secret services possess poisons that leave no routinely detectable trace. These include the CIA, the Russian FSB (successor of the KGB), and the Mossad....


WHAT WAS previously a logical probability has now become a certainty.


An examination of his belongings commissioned by Aljazeera TV and conducted by a highly respected Swiss scientific institute has confirmed that Arafat was poisoned with Polonium, a deadly radioactive substance that avoids detection unless one specifically looks for it.


Two years after Arafat's death, the Russian dissident and former KGB/FSB officer Alexander Litvinenko was murdered in London by Russian agents using this poison. The cause was discovered by his doctors by accident. It took him three weeks to die.


Closer to home, in Amman, Hamas leader Khaled Mash'al was almost killed in 1997 by the Mossad, on orders of Prime Minister Binyamin Netanyahu. The means was a poison that kills within days after coming into contact with the skin. The assassination was bungled and the victim's life was saved when the Mossad was compelled, after an ultimatum from King Hussein, to provide an antidote in time....."


 


JEWS WHO BECAME VICTIMS OF GERMAN FASCIST CAPITALISM, WESTERN FASCISM, HAVE NOW BECOME PARTNERS IN GLOBAL FASCIST CAPITALISM, AND A SECOND ROUND, SECOND AXIS OF FASCISM UNDER A FASCIST ISRAEL AND FASCIST US./NATO ALLIANCES.  JEWS WHO FOCUSED ON THE HOLOCAUST EXCLUSIVELY, WITH ITS INHUMANITY, GENOCIDE, BUT FAILED TO LINK IT TO THE CLASS SYSTEM OF LATE CAPITALISM, NOW HAVE BECOME FASCIST MASTERS THEMSELVES, HAVING LEARNED NOTHING FROM THE HOLOCAUST, EXCEPT TO APE IT, BECOME IT.........CREATING VICTIMS AROUND THE WORLD, AS JEWS ONCE WERE.


 TODAY THE WORLD IS DIVIDED BETWEEN WESTERN FASCIST ELITES, GOVERNMENTS, CLASS PARTIES, CLASS POLITICIANS AND A SOCIAL PUBLIC OPPOSED IN THEIR MAJORITY AGAINST THEIR TOTALITARIAN POLICIES.   SAD TO SAY, MORE THAN HALF STILL VOTE FOR THESE CLASS, MAINSTREAM PARTIES , ENSLAVING THEMSELVES, BUT CLEARLY THEY OPPOSE THEIR TOTALITARIAN AGENDAS, FASCIST CORPORATE AND FOREIGN POLICIES.    IT REFLECTS IN THE DIVISION BETWEEN OBAMA, FASCIST DEMOCRATS/REPUBLICANS,  FASCIST WESTERN GOVERNMENTS TRYING TO PROSECUTE WIKI LEAKS, JULIAN ASSANGE AND MANNING WHO ARE HEROES TO THE WHOLE WORLD:


Assange's Last Stand?


http://www.opednews.com/articles/Assange-s-Last-Stand-by-Justin-Raimondo-120707-895.html


excerpt:


"They may get him, but he'll go down in history as a hero



If there was ever a clear-cut case of good versus evil, then surely it is the contest between Julian Assange and most of the world's governments. They hate him because he exposed their lies, their manipulations, and their routine violations of the most elementary rules of human decency. By publishing virtually the entire corpus of messages sent to and fro between Mordor Washington and their Nazgul diplomats in the field, WikiLeaks has given us the true history of the world in modern times, or, at least, a good glimpse into its secret underside historians rarely uncover.


The release of the "Collateral Murder" video showing the shooting of journalists and innocents in Iraq by our cackling wise-cracking US military pilots was arguably the tipping point in the public relations battle, after which support for continued prosecution of the war even among the political elites dropped precipitously and never recovered. It was the 21st century equivalent of the infamous photo of a napalmed Vietnamese children running down a road, an icon of another unpopular and utterly immoral war. That's why Bradley Manning, who probably supplied the video to WikiLeaks, has been held incommunicado for over a year, subjected to treatment the UN defines as torture. He will never get a fair trial in the US


OBAMA IS A FASCIST DEMOCRAT LINKED TO WESTERN FASCISM, AND HAS BECOME THE SECOND ROUND , SECOND AXIS OF WESTERN FASCISM, AS GLOBAL FASCISM........WHO MUST BE STOPPED, EXPOSED, RIDICULED, LIKE THE FASCIST REPUBLICANS, BOTH DEFENDING FASCIST CAPITALISM, FASCIST EMPIRE, FASCIST MILITARY ALLIANCES.    WE ARE AT WAR WITH THEM , IDEOLOGICALLY, THEY ARE HEIRS TO NAZI GERMANY.


US, Britain seek to foment World War III over Syria: Analyst (video)

 


 

HILLARY, OBAMA, WESTERN FASCISTS ARE PROMOTING FASCIST REGIME CHANGE, REGIONAL WAR, GLOBAL WAR, PSYCHOPATHS, WARMONGERS, WHO ARE MENTALLY ILL TO RISK THE WORLD TO NUCLEAR WORLD WAR III.

 

 

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