Pakistan

Saturday, June 30, 2012

The days of “deceitful manipulation” by the Western institutions are numbered

The economic system of the West is rotten to the core. The UK authorities have fined Barclays Bank for manipulating a key interest rate called Libor. This is a rate at which banks borrow from each other. Trillions of financial transactions use Libor as a benchmark every day.

Governor of Bank of England, Sir Mervyn King has called for a “real change in the culture” of the banking industry after Barclays Bank was fined for the “deceitful manipulation of one of the most important interest rates”.

The West thrived by colonizing nations around the world. After the end of colonization the West started to manipulate the global economy because it was hard for the West to enjoy the high standard of living.

The days of “deceitful manipulation” by the Western institutions are numbered. The countries around the world are resisting the manipulation by the West. The time is coming when common people of the West will overthrow the corrupt Western establishment.

0 Comments:

Post a Comment

Links to this post:

Create a Link

<< Home