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Bingoboingo: http://logs.nosuchlabs.com/log/trilema/2019-10-25#1948177 << To be clear they wrote their contract in a way that allows then to charge interest specifically LIBOR + 12% on late payment rather than declaring immediate default and suspension of service.
mircea_popescu: ed locally ; and libor +6% (no less than 7%) for "cartera general". in dolars, OF COURSE.
mircea_popescu: in other utter lulz, argentine bank (banco ciudad) takes out half page ad on the back of the main newspaper here to advertise how "tus proyectos no tienen fronteras", because the chief whore started with "proyectos" and now everyone's fixated on that word. the deal they offer ? 36 month loans, libor +5% (no less than 6%) for "grandes empresas" ie, "google's list of sites that we pretend are relevant to all searches" implement
BingoBoingo: Linked to LIBOR
williamdunne: >https://en.wikipedia.org/wiki/Libor_scandal
williamdunne: >Remember the Libor scandal and interest fixing cartel?
davout: "As a global index leader and administrator of ICE LIBOR, ICE Futures U.S. Dollar Index and many other notable benchmarks, we are pleased to bring transparency to this market."
Pierre_Rochard: but really I’d cast blame on the lemmings who use LIBOR for everything and anything
mats_cd03: kolinko: funny enough, thats how LIBOR was pegged. didya catch how LIBOR ended up rigged?
mircea_popescu: jurov well... it happened with libor :D
mircea_popescu: basically the libor was a scam, the forex is a scam too. fiat is about as bad as bitcointalk
mircea_popescu: this is why the libor originally existed : so banks can liquidify each oth\er
benkay: is this some tie between libor and monetary base inflation?
MJR_: apparently the swaps market is also rigged like LIBOR
mircea_popescu: MPBOR, moar serious than LIBOR
mircea_popescu: http://business.time.com/2012/12/20/libor-scandal-yep-its-as-bad-as-we-thought/
mircea_popescu: much like the euribor/libor/etc
mircea_popescu: people always knew libor is shit.
mircea_popescu: for the reason recently discovered : libor was fixed.