{"id":34438,"date":"2018-05-22T06:30:21","date_gmt":"2018-05-22T11:30:21","guid":{"rendered":"http:\/\/olduvai.ca\/?p=34438"},"modified":"2018-05-22T06:30:21","modified_gmt":"2018-05-22T11:30:21","slug":"lie-bor-pitchforkers-rejoice","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=34438","title":{"rendered":"Lie-Bor: Pitchforkers Rejoice"},"content":{"rendered":"<header class=\"entry-header\">\n<h3 class=\"entry-title\"><a href=\"https:\/\/capitalistexploits.at\/2018\/05\/lie-bor-pitchforkers-rejoice\/\">Lie-Bor: Pitchforkers Rejoice<\/a><\/h3>\n<\/header>\n<div class=\"entry-content\">\n<p>There\u2019s a bit of a hullabaloo going on at the moment about LIBOR. And in truth, it is a pretty big deal.<\/p>\n<p>Yes, even bigger than whether or not Stormy Daniels got jiggetty with an old guy wearing a wig. And get this\u2026 even bigger than\u00a0<a href=\"https:\/\/capitalistexploits.at\/2018\/05\/dear-social-media-giants-look-out\/\" target=\"_blank\" rel=\"noopener\">Kanye\u2019s man-love for the same guy.<\/a><\/p>\n<p><strong>What is LIBOR?<\/strong><\/p>\n<p>Let\u2019s start here.<\/p>\n<p>Whether you know it or not, LIBOR has for decades played an integral part in the cost of your beer. That\u2019s because it has provided a means to determine the cost of debt in everything \u2014 from student loans and mortgages to complex derivatives.<strong>\u00a0<\/strong><\/p>\n<p>What happens is this\u2026<\/p>\n<p>A daily survey is taken from 15 of the largest banks in the world.<\/p>\n<p>In this little test each bank submits a quote estimating how much it would be charged by the other banks to borrow money across a range of durations without any collateral being put up.<\/p>\n<p>All the rates are then tossed into a baking dish, baked, and the pie that comes out is an average rate known as LIBOR.<\/p>\n<p>It stretches across 7 different maturities and 5 currencies, and,\u00a0together with Euribor, it is the primary benchmark for short-term rates across this ball of dirt we call home.<\/p>\n<p>Thomson Reuters publishes it midday and pretty much the entire financial community involved in debt markets of any kind (and plenty who\u2019re only tangentially connected) furrow their brows and sip their long blacks while scanning these very rates in order to more intelligently make critical business decisions, which ultimately affect the cost of your beer.<\/p>\n<p>And so, as you can see, it is <em>very<\/em> important.<\/p>\n<p>How big?<\/p>\n<p><strong>$350 Trillion!<\/strong><\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Lie-Bor: Pitchforkers Rejoice There\u2019s a bit of a hullabaloo going on at the moment about LIBOR. And in truth, it is a pretty big deal. Yes, even bigger than whether or not Stormy Daniels got jiggetty with an old guy wearing a wig. And get this\u2026 even bigger than\u00a0Kanye\u2019s man-love for the same guy. What [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[63,8785,20205,195,20204,431,1421,13081],"class_list":["post-34438","post","type-post","status-publish","format-standard","hentry","category-economics","tag-banks","tag-capitalist-exploits","tag-cost-of-debt","tag-debt","tag-euribor","tag-interest-rates","tag-libor","tag-thomson-reuters"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/34438","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=34438"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/34438\/revisions"}],"predecessor-version":[{"id":34439,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/34438\/revisions\/34439"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=34438"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=34438"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=34438"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}