Guest Post: Ireland, Please Do the World a Favor and Default

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Sun, 11/28/2010 - 22:00 | 759950 MsCreant
MsCreant's picture

Put the IRE back in Ireland.

Sun, 11/28/2010 - 22:32 | 760020 masterinchancery
masterinchancery's picture

Amen sister!

Sun, 11/28/2010 - 22:54 | 760060 Cleanclog
Cleanclog's picture


People of Ireland - get really noisy and visible about your displeasure that your futures are to save the banks, yet again.  Do what it takes to make the budget vote on December 7 become a NO to the EU and IMF package.  Default, repudiate, whatever to not have this structure truly destabilize your futures.  

The banks took the risk.  Let them suffer the consequences.  You should not have to slave to bail them out again.

Hurry.  Loud and obvious.  Make your protests count.  Everyone.  Doctors, teachers, cabbies, sewer treatment workers - leave your desks, offices, classrooms, and protest!

Sun, 11/28/2010 - 23:30 | 760108 chopper read
chopper read's picture

AND IF YOUR LEADERS DO NOT LISTEN, THEN REVOLT AND EXECUTE THEM.

http://www.zerohedge.com/forum/how-do-we-arrive-eve-our-collapse

 

finally, know this scoundrel by his name. understand who he is.

http://en.wikipedia.org/wiki/David_Rockefeller

 

Mon, 11/29/2010 - 00:07 | 760197 kujo
kujo's picture

I believe there is a system to help out the 'lads' back in Ireland in some cities in this country. I bet a few silver eagles could go a long way bring about some change on the Emerald Isle again.

Sun, 11/28/2010 - 22:02 | 759956 Cleanclog
Cleanclog's picture

European Bailout 2 (EB2) is going about as well as QE2 so far.

Sun, 11/28/2010 - 22:03 | 759958 Jason T
Jason T's picture

Debt based money system bitchez!  Mathematically guaranteed to blow up in your face.

 

Sun, 11/28/2010 - 23:31 | 760116 chopper read
chopper read's picture

exactly. 


know this scoundrel by his name. understand who he is.

 

http://en.wikipedia.org/wiki/David_Rockefeller

Sun, 11/28/2010 - 22:08 | 759961 Spitzer
Spitzer's picture

An Ireland default would shoot the Euro to 1.80.

All that debt distruction would certainly push the Euro to all time highs.

Europeans better dump their gold before its too late

Sun, 11/28/2010 - 22:05 | 759963 Belrev
Belrev's picture

This is ultimately a mathematical event and not in the hands of the evil ones. Though they will do all they can to delay the inevitable and avoid being sprung up on the trees.

Sun, 11/28/2010 - 23:36 | 760126 chopper read
chopper read's picture

 

i agree with your identified outcome, but not that we are absent 'evil ones'. 

 

 

“For the first time in its history, Western Civilization is in danger of being destroyed internally by a corrupt, criminal ruling cabal which is centered around the Rockefeller interests, which include elements from the Morgan, Brown, Rothschild, Du Pont, Harriman, Kuhn-Loeb, and other groupings as well. This junta took control of the political, financial, and cultural life of America in the first two decades of the twentieth century.”

 

- Carroll Quigley

 

“The drive of the Rockefellers and their allies is to create a one-world government combining supercapitalism and communism under the same tent, all under their control … Do I mean conspiracy? Yes I do. I am convinced there is such a plot, international in scope, generations old in planning, and incredibly evil in intent.”

 

- Congressman Larry P. McDonald, 1976, killed in the Korean Airlines 747 (Flight KAL007) th at was shot down by the Soviets in 1983

 

 

 

PLEASE, know this scoundrel by his name. understand who he is.

http://en.wikipedia.org/wiki/David_Rockefeller

 

http://www.zerohedge.com/forum/how-do-we-arrive-eve-our-collapse

 

Sun, 11/28/2010 - 23:57 | 760169 fleur de lis
fleur de lis's picture

Yep, these are the same central vermin bankers who carefully manipulated monetary systems so as to fund both world wars, and all the vile revolutions of the 20th century, sending millions of people to violent deaths. Would someone please explain to me how they are any better than serial killers and why their punishment should be any less severe?

For all their money they're still trash.

Mon, 11/29/2010 - 18:08 | 762722 chopper read
chopper read's picture

they are routine stewards of holocausts.  ...if ever there were a time for common men to rise up.

 To be, or not to be– that is the question:
Whether 'tis nobler in the mind to suffer
The slings and arrows of outrageous fortune,
Or to take arms against a sea of troubles
And, by opposing, end them.

Sun, 11/28/2010 - 22:08 | 759968 Selah
Selah's picture

Collapse, Bitches!

We need a total collapse, and the longer we kick the can, the more total the collapse. I do not expect this to be "fun", but it is what society needs. Look around at how society is progressing.

The governments are doing a great job to ensure that we have a total collapse.

Sun, 11/28/2010 - 22:08 | 759969 liberal sodomy
liberal sodomy's picture

I'm in for 10k of aid if they do.

Sun, 11/28/2010 - 22:09 | 759971 NotAlwaysSo
NotAlwaysSo's picture

Not going to happen. The oligarchs are forever safe, the world has been tamed. The human race is officially domesticated.

Sun, 11/28/2010 - 22:22 | 760004 MarketTruth
MarketTruth's picture

"Give me control of a nation's money and I care not who makes the laws." -- Rothschild... Same family that owns the Federal Reserve, ECB, IMF and others.

Sun, 11/28/2010 - 22:33 | 760022 NotAlwaysSo
NotAlwaysSo's picture

Brilliant family. Evil, but brilliant. We should emulate them.

Sun, 11/28/2010 - 22:43 | 760036 Croesus
Croesus's picture

I can think of better things to do with them, besides emulating them. Isn't the world shitty enough already, because of "people" like them? Do we really need more of them?

 

 

 

 

Sun, 11/28/2010 - 22:55 | 760062 delacroix
delacroix's picture

we should castrate them, for trying to molest, our children, and grandchildren

Sun, 11/28/2010 - 22:57 | 760070 NotAlwaysSo
NotAlwaysSo's picture

We can't touch them, that's the whole point.

Sun, 11/28/2010 - 23:41 | 760133 chopper read
chopper read's picture


“For the first time in its history, Western Civilization is in danger of being destroyed internally by a corrupt, criminal ruling cabal which is centered around the Rockefeller interests, which include elements from the Morgan, Brown, Rothschild, Du Pont, Harriman, Kuhn-Loeb, and other groupings as well. This junta took control of the political, financial, and cultural life of America in the first two decades of the twentieth century.”

- Carroll Quigley

 “The drive of the Rockefellers and their allies is to create a one-world government combining supercapitalism and communism under the same tent, all under their control … Do I mean conspiracy? Yes I do. I am convinced there is such a plot, international in scope, generations old in planning, and incredibly evil in intent.”

 - Congressman Larry P. McDonald, 1976, killed in the Korean Airlines 747 (Flight KAL007) th at was shot down by the Soviets in 1983

PLEASE, know this scoundrel by his name. understand who he is.

http://en.wikipedia.org/wiki/David_Rockefeller

 

http://www.zerohedge.com/forum/how-do-we-arrive-eve-our-collapse

Sun, 11/28/2010 - 22:55 | 760064 hardcleareye
hardcleareye's picture

“I have two great enemies, the Southern army in front of me and the bankers in the rear. And of the two, the bankers are my greatest foe.” Lincoln.

Sun, 11/28/2010 - 22:09 | 759972 RafterManFMJ
RafterManFMJ's picture

Bankers sayz, "What we really need is a global war" 

Sun, 11/28/2010 - 22:10 | 759974 Shameful
Shameful's picture

What is really amazing is the ROI on bribes...errr...campaign contributions. I mean think about it. With a big sack of unmarked bills you can make all your risks disappear. Got to think it's way cheaper then buying a CDS and the counter party risk is tossed on the people. What a deal!

Sun, 11/28/2010 - 22:13 | 759982 lynnybee
lynnybee's picture

Our children & grandchildren must live free........please default for all our sakes.

Sun, 11/28/2010 - 22:13 | 759983 Mitchman
Mitchman's picture

Unfortunately, from what I read, all of the political parties, except for Sinn Fein, are committed to some aspect of the bailout and unless someone comes forward NOW, even with the election, the bailout package will survive in its current form.

Read this op/ed:

http://counterpunch.com/browne11262010.html

Sun, 11/28/2010 - 22:18 | 759998 liberal sodomy
liberal sodomy's picture

sinn fein is the nancy piglosi wing of what is left of the shambles of "Irish" government.

Sun, 11/28/2010 - 22:23 | 760006 AbandonShip
AbandonShip's picture

great site! I used to read daily and was a print subscriber.  Might go back again.

Mon, 11/29/2010 - 06:41 | 760536 tip e. canoe
tip e. canoe's picture

"The global colonial edifice proved to be a house of cards, and when Ireland whipped one away the whole structure wobbled and began to collapse."

Sun, 11/28/2010 - 22:14 | 759984 AUD
AUD's picture

While outright, as against currecy inflation, default might seem the best way forward, does anybody stop & think what happens to the many millions of ordinary depositors who have their 'life savings' 'entrusted' with the banks who are on the hook for all this bad debt?

I think the article posted by Sandeep Jaitley on ZH a couple of months ago had the best description - they would be destitute - banks would fail, all interbank payments would stop, the economy would ground to a halt, people thrown out of work.

While the burden of bad debt can be increased by currency inflation it will be, until it can't be.

Sun, 11/28/2010 - 22:16 | 759996 Shameful
Shameful's picture

Risk sucks. We have taken for granted that all banks are safe, clearly this is not the case. There is still risk, but it's just moved in this case to the people. Besides if there is infinite bailouts that leads to infinite moral hazard. Does anyone think the banks will clean up their act so long as they can expect infinite bailouts?

Mon, 11/29/2010 - 19:01 | 762887 jonytk
jonytk's picture

Hey, all banks are safe now in Europe,

U MAD ??? XD

 

Sun, 11/28/2010 - 22:31 | 760015 Hubbs
Hubbs's picture

Thanks for providing the opposite view, which begs the question, who makes up these bond holders? Wealthy folks who are whinning because they may lose some of their jet set travel vacations, or the working smucks who have saved over their lifetimes so they would have at least a little cushion for retirement?

Sun, 11/28/2010 - 23:20 | 760098 AUD
AUD's picture

who makes up these bond holders? 

Most likely the pension or superannuation fund where your 'retirement' is. Wealthy folks & working schmucks alike stand to lose everything in the event of a major default sending bond prices to zero.

I think that's why governments have reacted the way they have over the last couple of years. They (as in at least some people in the Treasury dept.) know the money ain't there, and never was there & never will be there.

Governments are never going to admit that they have been screwing the people since at least the First World War & anyway, as I said above, it's too late to turn back without disastrous consequences. The game of musical chairs must continue

Sun, 11/28/2010 - 23:50 | 760151 Sean7k
Sean7k's picture

The governments are run by the bankers. They are proxies. This bailout is designed to make the bankers whole at the expense of Ireland's infrastructure and pension plan. Default Ireland and build a new economy on sound money. Just ignore the aussie banker.

Mon, 11/29/2010 - 00:29 | 760246 AUD
AUD's picture

The governments are run by the bankers. They are proxies

As usual you have it backwards. The banks are proxies for the government. In return for monetising the governments debt the banks get their own 'free lunch'.

Without the protection of government the bankers would have to work for their lunch.

And me a banker? You're a funny guy.

 

Mon, 11/29/2010 - 06:44 | 760538 tip e. canoe
tip e. canoe's picture

who makes up these bond holders?

see for yourself

http://golemxiv-credo.blogspot.com/2010/10/who-are-bond-holders-we-are-b...

Sun, 11/28/2010 - 22:34 | 760023 Eally Ucked
Eally Ucked's picture

Don't worry about depositors, bottom 80% does not have any deposits! Like in America, whatever they have is their house at imaginary price and few bucks at the bank. As you see they want to use their pensions too for bail-out, lost money, so they don't have to worry.

Sun, 11/28/2010 - 22:55 | 760067 Spitzer
Spitzer's picture

exactly

Sun, 11/28/2010 - 23:58 | 760174 chopper read
chopper read's picture

exactly, exactly.  agreed.

 

i cannot wait to see those who are halfway up the bureaucratic power structure (food chain) begin to defect in favor of the people when they realize their one-world-government plan is collapsing around them.   

 
“For the first time in its history, Western Civilization is in danger of being destroyed internally by a corrupt, criminal ruling cabal which is centered around the Rockefeller interests, which include elements from the Morgan, Brown, Rothschild, Du Pont, Harriman, Kuhn-Loeb, and other groupings as well. This junta took control of the political, financial, and cultural life of America in the first two decades of the twentieth century.”

- Carroll Quigley

“The drive of the Rockefellers and their allies is to create a one-world government combining supercapitalism and communism under the same tent, all under their control … Do I mean conspiracy? Yes I do. I am convinced there is such a plot, international in scope, generations old in planning, and incredibly evil in intent.”

- Congressman Larry P. McDonald, 1976, killed in the Korean Airlines 747 (Flight KAL007) th at was shot down by the Soviets in 1983

http://www.zerohedge.com/forum/how-do-we-arrive-eve-our-collapse

Sun, 11/28/2010 - 22:36 | 760028 Double.Eagle.Gold
Double.Eagle.Gold's picture

Depositors, the little guy, are made whole. It's the power elite that get screwed by a bank default, stock holders first, bond holders second.

This is the way it works and I'd much prefer this than passing this mess on to future generations.

Sun, 11/28/2010 - 23:27 | 760111 AUD
AUD's picture

Made whole by whom?

A bank default does not mean there is any money for the depositors. A government guarantee just means the risk is spread around through currency inflation, which means we're back to square one.

Mon, 11/29/2010 - 00:32 | 760250 traderjoe
traderjoe's picture

Refund the depositors in a new sovereign currency - issued without debt and without interest. Make the conversion 1:1 - can be done over a weekend. Stores would be open on Monday.

Sun, 11/28/2010 - 23:00 | 760074 Psquared
Psquared's picture

So they borrow to pay loans in the hope of what? That a fairey godmother will leave them some money?

I have borrowed from Peter to pay Paul before. It doesn't work. Sooner or later you have to default or pay down the principal. Here they are increasing the principal so making it that much harder for the poor fairey godmother.

Sun, 11/28/2010 - 23:03 | 760077 Sean7k
Sean7k's picture

What a laugh. The "millions of ordinary depositors". How about the German, French, British and American bankers? They are the ones at risk. The ordinary people will be ravaged by the selling of their country's infrastructure and pension plan. 

Take your sad defense of bankers and shove it up your arse.

Sun, 11/28/2010 - 23:22 | 760101 AUD
AUD's picture

Take your sad defence of Government & shove it up your arse.

Sun, 11/28/2010 - 23:51 | 760154 Sean7k
Sean7k's picture

Best you can do banker troll? How droll.

Mon, 11/29/2010 - 00:00 | 760179 chopper read
chopper read's picture

amen.

 
“For the first time in its history, Western Civilization is in danger of being destroyed internally by a corrupt, criminal ruling cabal which is centered around the Rockefeller interests, which include elements from the Morgan, Brown, Rothschild, Du Pont, Harriman, Kuhn-Loeb, and other groupings as well. This junta took control of the political, financial, and cultural life of America in the first two decades of the twentieth century.”

- Carroll Quigley

“The drive of the Rockefellers and their allies is to create a one-world government combining supercapitalism and communism under the same tent, all under their control … Do I mean conspiracy? Yes I do. I am convinced there is such a plot, international in scope, generations old in planning, and incredibly evil in intent.”

- Congressman Larry P. McDonald, 1976, killed in the Korean Airlines 747 (Flight KAL007) th at was shot down by the Soviets in 1983

http://www.zerohedge.com/forum/how-do-we-arrive-eve-our-collapse


know this scoundrel by his name. understand who he is.

http://en.wikipedia.org/wiki/David_Rocke

feller

Sun, 11/28/2010 - 22:14 | 759987 Big Corked Boots
Big Corked Boots's picture

I am a big Charles Hugh Smith fan. He gets it.

Unfortunately the rest of the world does not. The bankers have us by the balls, and the squeeze is just starting.

Do NOT follow this link or you will be banned from the site!