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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 Email address removed .
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.
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