Marine Links Thomson Reuters JP Morgue to Obama's Lehman Libor Fraud

United States Marine Field McConnell has linked Thomson Reuters insiders to JP Morgan Financial Morgue allegedly built for or with top officials in the Obama administration to hide evidence of a Libor fraud on the shareholders of Lehman Bros by the Worshipful Company of International Bankers.

John McArthur, Thomson Reuters Libor trustee and Harvard mentor of Barack Obama and Mitt Romney

Obama lectures on use of Libor (?) leveraged lease to liquidate bank assets

“In a stunning revelation by a court-ordered investigation, it has come to light that JPMorgan Chase and Citigroup helped script the downfall of Lehman Brothers Holdings - the biggest bankruptcy in the US corporate history by demanding more collateral and changing guarantee agreements. "The demands for collateral by Lehman's lenders had direct impact on Lehman's liquidity," said Anton Valukas, the officer investigating the bankruptcy in a Manhattan federal court. In a report that ran over 2000 pages and cost the exchequer $38 million also blamed former Lehman Executive and the auditor Ernst & Young of certifying misleading statements about the bank's finances. New York-based Lehman collapsed in September 2008 with $639 billion in assets. The examiner also noted that Warren Buffett, who runs investment firm Berkshire Hathaway, was of the view that Lehman appeared not to be sincere enough to warrant his help. Valukas also said of Barclays' purchase of Lehman's North American brokerage that a "limited amount of assets" were "improperly transferred to Barclays," and that the value of the assets may not be "material."”

“Libor Rigging: The Tip of the Iceberg Posted Friday, 13 July 2012 The aberration first manifested itself as a Q3/07 trading phenomena. We get a clue as to what the underlying is when we examine the composition of J.P. Morgan’s derivatives book from a control period – Q2/07 – through to Q4/07: http://news.goldseek.com/GoldSeek/1342184400.php Here we see the less than 1 year Swap component of Morgan’s book grow from 25.2 Trillion in Q2/07 to 32.8 Trillion in Q3/07 before reverting back to 24.7 Trillion in Q4/07. The 7.5 Trillion “bloat” in Morgan’s book – coupled with the plunge in rates and failing U.S. Dollar Index - in Q3/07 tells us the J.P. Morgan was a MASSIVE PLAYER in the very “short end” of the curve [centered on 3 month credit space]. We can discern that Morgan was an ENORMOUS purchaser of 3 month U.S. T-bills [likely as hedges for trades being conducted with the ESF brokered through the N.Y. Fed trading desk] – this is what caused the “blow-out” in the TED Spread as well as the Eurodollar Future/Libor spread and put the brakes on a major break down of the U.S. Dollar Index. Their book “re-coiled” 3 months later when these positions matured. At the onset, commercial Banks – fearing a financial market meltdown – immediately became extremely risk averse and actually started to raise rates: But the “Free Markets” were overwhelmed by J.P. Morgan’s rate rigging / defense of the dollar. Ladies and gentlemen, 7.5 Trillion dollar interventions into the 3 month credit markets are not and never will be the work of Commercial Banks or Bank Holding Companies. Interventions of this kind are EXCLUSIVELY the work of National Treasuries / Central Banks. The late 2007 dichotomy between Libor [Eurodollar Futures] and 3 month U.S. T-bills was brought on – not because Libor was “broken” – but by the U.S. Treasury’s Exchange Stabilization Fund [ESF] pursuing/inflicting Imperialist U.S. monetary policy – brokered through the N.Y. Federal Reserve - on the world through the trading desk of J.P. Morgan Chase.

Moving Forward to the Barclays Libor Rigging Scandal Much of the recent guffaw about Libor fixing has centered on London based, Barclays Bank Plc. The gist of the allegations against Barclays being – in the aftermath of Lehman Bros. collapse in the fall of 2008 – Barclays consistently posted higher Libor rates than competing banks who are also polled daily by the British Bankers Association [BBA] for their Libor rates. It has been said by some, like Zerohedge, that Barclays was attempting to influence [rig] rates higher than they otherwise should have been: …. So, while Lehman was in the death-throws of collapsing – after Barclays couldn’t be induced to touch them with a “barge pole” - J.P. Morgan “advanced” 138 billion [collateral perhaps?] to Lehman so they could “perform/settle trades” –– mostly, if not all reimbursed/paid for by the Fed. While this “stabilizing trade” was being instituted – short term rates simultaneously careened down to zero from 200 basis points [2 %]. Then, in the immediate aftermath of the collapse – J.P. Morgan’s less than 1 yr. component of their swap book grows by 8 Trillion in one quarter while their overall book was contracting by more than 6 Trillion in notional??? I hope I haven’t lost anyone here because these facts are MUCH STRANGER AND HARDER TO BELIEVE THAN FICTION. What appears to have happened here: J.P. Morgan did not want to be identifiable as the originator of 8 Trillion worth of less than 1 yr. Swap instruments – so they pre-funded Lehman to strap these positions on - positions they KNEW IN ADVANCE they would inherit once Lehman’s collapse was official. This way – no more unwanted attention would be drawn to J.P. Morgan [the Fed / U.S. Treasury in drag]. Barclays clearly knew how bad the whole situation was – being the last ones to see the horror that was Lehman’s books - and were likely the only counterparty in the proceedings who acted in an informed, financially responsible manner.” [But have subsequently been extorted through Thomson Reuters Wag the Dog media to hide the evidence in the JP Morgue so Obama officials cn claim to have saved the capital system while destroying Lehman Brothers to maintain the monopoly over global credit pools for the Worshipful Company of International Bankers]”

More to follow.



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