Faith & Freedom - Bank Collapse Corrupt Core
Posted by David Alan Carmichael at 9/18/2008 5:47 PM 
Categories: Religion, Government and Politics, News and Media, Freedom
Categories: Religion, Government and Politics, News and Media, Freedom
Download | Duration: 00:54:46
The biggest financial institution collapse in history is occurring and it is hardly being noticed. David reviews the parallels to the 1929 crisis and the fundamental flaw with our quasi-governmental credit based currency. Andrew Jackson's 1832 Bank Veto is right on point.
Definition of LIBOR - London Inter-Bank Offer Rate. The interest rate that the banks charge each other for loans (usually in Eurodollars). This rate is applicable to the short-term international interbank market, and applies to very large loans borrowed for anywhere from one day to five years. This market allows banks with liquidity requirements to borrow quickly from other banks with surpluses, enabling banks to avoid holding excessively large amounts of their asset base as liquid assets. The LIBOR is officially fixed once a day by a small group of large London banks, but the rate changes throughout the day.
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