Apr 10, 2017

BREAKING | The Independent | Apr 10, 2017 | Bank of England implicated in Libor rigging scandal by secret recording, BBC reports | ... According to the BBC, the secret 2008 recording adds to evidence that the central bank repeatedly pressured commercial banks to push their Libor rates down during the financial crisis ... | Blogger: Same bank, that knew, together with central banks, of Libor flaws in 2008. The Governor of the Bank of England, Mervyn King, by the end of 2008, described the Libor to the UK Parliament saying "It is in many ways the rate at which banks do not lend to each other, ...it is not a rate at which anyone is actually borrowing.. Same bank, that has associated with former Deutsche Bank traders charged by US in Libor probe.. Same bank, that has associated with ex-Barclays Libor traders, jailed for more than 6 years.. Same Bank, that acts as gold custodian for about 100 customers, including central banks and international financial institutions, LBMA members and the UK government. In 2016, Prince Charles was shown Bank of England's vaults where 400,000 gold bars worth £100BILLION are stored.. |

Libor, or the London Interbank Offered Rate, is the rate at which banks lend to each other and it sets a benchmark for a whole host of financial products, including mortgages and loans for retail customers Getty



https://en.wikipedia.org/wiki/Libor_scandal
https://www.bullionstar.com/gold-university/bank-england-gold-vaults
http://www.independent.co.uk/news/business/news/ex-barclays-libor-traders-jailed-sentencing-6-years-jay-merchant-tom-hayes-a7125496.html
http://www.dailymail.co.uk/news/article-4010724/Prince-Charles-shown-Bank-England-s-vaults-400-000-gold-bars-worth-100BILLION-stored.html