Rigging the LIBOR

Interest rates in foreign currency in Israel are always LIBOR plus. The plus could be negotiated, not so LIBOR that descended from Har Sinay (where God resides in a burning scrub). Now we are notified that LIBOR was not the sacred word of God but of a cabal of cheating goyische pirates. We (I mean all the world) were being robbed all the time. The Economist: The rigging of the LIBOR (London Interbank Offered Rate) betrays a culture of casual deshonesty. London as a financial center is kaputt.


What now? The money will look for a secure place and honest guardians. New York is the best, Frankfort is    good, Singapur will take Asia. .