Ireland Demands Rescheduling Of Bailout Terms, Or How Dublin Went From M.A.D. To S.A.D.

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Thu, 05/12/2011 - 14:32 | 1268814 Cognitive Dissonance
Cognitive Dissonance's picture

"Ireland  wants to reschedule debt issued under its EU/IMF rescue package and will not accept less favorable treatment than other bailed out countries in changing the deal......

Those damn peasant nations are getting down right uppity. Time to slap some sense into them.

Release the hounds!

Thu, 05/12/2011 - 14:37 | 1268847 LawsofPhysics
LawsofPhysics's picture

mmmm, free hound meat.

Thu, 05/12/2011 - 14:38 | 1268855 Cognitive Dissonance
Cognitive Dissonance's picture

We know what is next......right? Population re-training via police action. Here is how Madrid did it.

Thu, 05/12/2011 - 14:45 | 1268869 LawsofPhysics
LawsofPhysics's picture

That one seems a bit thin, but I guess lean meat is better for you anyway.

Thu, 05/12/2011 - 14:56 | 1268921 Cognitive Dissonance
Cognitive Dissonance's picture

Hound....it's what's for dinner.

Thu, 05/12/2011 - 16:31 | 1269411 Overflow-admin
Overflow-admin's picture

LMAO

I just was going to say that ;)

Thu, 05/12/2011 - 16:44 | 1269438 I only kill chi...
I only kill chickens and wheat's picture

Dogs of war and men of hate
With no cause, we don't discriminate
Discovery is to be disowned
Our currency is flesh and bone
Hell opened up and put on sale
Gather 'round and haggle
For hard cash, we will lie and deceive
Even our masters don't know the web we weave
One world, it's a battleground
One world, and we will smash it down
One world ... One world
Invisible transfers, long distance calls,
Hollow laughter in marble halls
Steps have been taken, a silent uproar
Has unleashed the dogs of war
You can't stop what has begun
Signed, sealed, they deliver oblivion
We all have a dark side, to say the least
And dealing in death is the nature of the beast
One world, it's a battleground
One world, and we will smash it down
One world ... One world
The dogs of war won't negotiate
The dogs of war don't capitulate,
They will take and you will give,
And you must die so that they may live
You can knock at any door,
But wherever you go, you know they've been there before
Well winners can lose and things can get strained
But whatever you change, you know the dogs remain

Pink Floyd, "The Dogs of War"

Thu, 05/12/2011 - 14:34 | 1268817 Mountainview
Mountainview's picture

Greece, Ireland, Portugal, Greece, Portugal, Ireland....Spain and round and round it goes....

Thu, 05/12/2011 - 14:35 | 1268820 hambone
hambone's picture

Cue scene from Blazing Saddles w/ gun to own head...

Thu, 05/12/2011 - 14:59 | 1268952 camaro68ss
camaro68ss's picture

Can the house of cards fall already

Thu, 05/12/2011 - 14:35 | 1268821 bobby02
bobby02's picture

Core EU is fucked - they just don't realize it yet. Either pay the cost of bailing out PIIGS or pay the cost in an increase in euro-denominiated debt premia that will follow an EU sovereign default. Wonder which is less?

Let the Games continue!

Thu, 05/12/2011 - 21:30 | 1270398 downwiththebanks
downwiththebanks's picture

The problem comes from giving all that welfare to the banker-gangsters to spend on a spending spree of hookers, drugs, and free money for use at the gambling den!

But it's much better to focus on the effect rather than the cause when the cause is you.

Thu, 05/12/2011 - 14:36 | 1268826 SwingForce
SwingForce's picture

Off Topic, can anyone tell me why AGQ & ZSL are BOTH down? These are leveraged silver etf's, ZSL is the inverse, so 1 should be up. Thanks.

Thu, 05/12/2011 - 14:46 | 1268877 Cash_is_Trash
Cash_is_Trash's picture

Saw same shit, dunno

Thu, 05/12/2011 - 14:58 | 1268942 Bam_Man
Bam_Man's picture

Extreme intraday volatility causes tracking errors.

Stay away from 2x inverse ETF's, they are pure portfolio poison. 

Thu, 05/12/2011 - 20:01 | 1269104 buzzsaw99
buzzsaw99's picture

info is available on most funds

http://www.proshares.com/funds/tbt.html

Thu, 05/12/2011 - 14:40 | 1268838 Iriestx
Iriestx's picture

Two choices Ireland:

1.  Nut up and go IRA-style on politicians, bankers and their families.

2.  Roll over and accept your fate as a slave.

Thu, 05/12/2011 - 16:56 | 1269499 I only kill chi...
I only kill chickens and wheat's picture

I think I'm doing it backwards, closing out my IRA's to "Nut up"

Trijicon ACOG® (Advanced Combat Optical Gunsight®)

Thu, 05/12/2011 - 17:21 | 1269603 ZFiNX
ZFiNX's picture

We Irish are no man's slave.. We will gladly die before we let any foreign scum tell us what to do.

 

IRA 4 EVER

Thu, 05/12/2011 - 14:39 | 1268856 buzzsaw99
buzzsaw99's picture

It's not even all of Ireland, it's like half. Good luck getting your money back suckers!

 

hahahahahahahaha!!

Thu, 05/12/2011 - 14:45 | 1268882 Sudden Debt
Sudden Debt's picture

NONO!! ALL THE MONEY IS STILL THERE!!

Just go to the end of the rainbow and when you see a leprechaun sitting on a big kettle, you say:

GI'ME BACK MA MONEY BITCH!!

And you'll have it all back payed in gold.

Thu, 05/12/2011 - 14:46 | 1268874 pappacass
pappacass's picture

Yeah, bit of an auld head fake there from Howlin.  He just needed to come up for some air. 

Thu, 05/12/2011 - 14:48 | 1268891 Clowns on Acid
Clowns on Acid's picture

Ahhh...(while sipping on me Guinness)

"The Oirish, the men that God made mad,

 For all their wars are merry,

And all their songs are sad."

- G. K. Chesterton

Thu, 05/12/2011 - 14:48 | 1268906 CrashisOptimistic
CrashisOptimistic's picture

Just to remind folks, the Swaps decide everything.

Credit default swaps on Ireland, Greek, etc debt would trigger on any default or restructure and there are billions upon billions of them owned by banks all over the world and . . . those . . . banks . . . have . . . refused . . . to . . . divest.

They have been begged, ordered, pressured and threatened to divest, and they have not done so.  Instead, they inform their Prime Ministers that they have vast holdings of the swaps and if those countries default, the swaps will trigger and bankrupt Germany, and France, and England and the US.  

And so, Mr. Prime Minister, you need to keep taxpayer money flowing (because eventually it will go in the banks' pockets).  

It is the indirect result of oil depletion.  The banks know there can never again be any growth, so they arrange to grow their piece of the shrinking pie.  

Forever.

 

Thu, 05/12/2011 - 20:14 | 1270161 Escapeclaws
Escapeclaws's picture

Extortion?

Thu, 05/12/2011 - 21:32 | 1270412 downwiththebanks
downwiththebanks's picture

Capitalism. 

Fri, 05/13/2011 - 03:00 | 1270957 Ahmeexnal
Ahmeexnal's picture

Humanity?

Thu, 05/12/2011 - 14:48 | 1268908 sangell
sangell's picture

Ireland doesn't really have a sovereign debt problem. It has a broken bank problem. It can export that if it has the guts.

Thu, 05/12/2011 - 15:05 | 1268961 CrashisOptimistic
CrashisOptimistic's picture

That's a bit of a difference without distinction, but your conclusion is valid.

The swaps exist on both soveriegns AND Irish (or Greek) bank debt.  The point is not the underlying entity.  It is the refusal of banks globally to divest their swap holdings and close them out.  

They have reasoned it out.  In a world with oil capped growth, their conduit into taxpayer money is simply holding swaps and terrorizing politicians.

Thu, 05/12/2011 - 15:55 | 1269232 bingaling
bingaling's picture

Fully loaded weapons of mass destruction - I am not a big fan of Putin but if the situation was the same in Russia he would not hesitate to put people at the banks behind bars and break up the banks and give the banks business/assets to those willing to divest the swap holdings .

Thu, 05/12/2011 - 20:13 | 1270163 Escapeclaws
Escapeclaws's picture

Putin is a sociopath. You admire sociopaths?

Thu, 05/12/2011 - 21:37 | 1270426 downwiththebanks
downwiththebanks's picture

I admire people with the temerity to face up to the banker-gangsters who think the world revolves around their drug binges, welfare checks, and trips to the casino.

Moreover, to be a banker-gangster is to be a sociopath.

Thu, 05/12/2011 - 21:35 | 1270417 downwiththebanks
downwiththebanks's picture

This is the point Tyler willfully refuses to acknowledge, in all of its manifestations.  

Much easier to create idiotic diversions by blaming the silly muppets rather than the thieves telling them how to behave and what to say.

Because doing so puts blame where it belongs - don't want that.

Thu, 05/12/2011 - 14:57 | 1268939 beastie
beastie's picture

Fooking idiots. Shower of gobshites running/ ruining the country.

Did you know 70% of Irish mortgages are variable?

Did you know Debtors prison is still on the books?

http://screwtapefiles.blogspot.com/2011/05/new-taxes-heading-our-way.html

Thu, 05/12/2011 - 15:00 | 1268954 Bam_Man
Bam_Man's picture

Do they serve Guiness with the evening meal in Irish debtor's prison?

Thu, 05/12/2011 - 15:02 | 1268970 slewie the pi-rat
slewie the pi-rat's picture

"Irish Reveal New Negotiotiating Tactics Upon Discovering EU Has Vaseline"

Thu, 05/12/2011 - 19:33 | 1270038 forexskin
forexskin's picture

SLEWIE - glad to see you back and cheering the lubing of the 'gears'

Thu, 05/12/2011 - 15:07 | 1268977 nah
nah's picture

aint it the bible says a bailout for a bailout.....

Thu, 05/12/2011 - 15:04 | 1268978 Eally Ucked
Eally Ucked's picture

Ireland decided to take banks debt on their own books. Now they are in situation of credit card holder making 4000$/mth and after costs he's left with 200$ and his interest on CC is 300$ now he has choice to say fuck it or borrow more and pay it counting on miracles down the road. 

Thu, 05/12/2011 - 15:06 | 1268985 falak pema
falak pema's picture

hard place and a rock...in that order...for the PIIGS.

Thu, 05/12/2011 - 15:09 | 1269002 slewie the pi-rat
slewie the pi-rat's picture

listen!  it turns out we can offer you enslavement on much better, easier terms.

really?  where do i sign?

Thu, 05/12/2011 - 15:11 | 1269012 Silver Bug
Silver Bug's picture

They either reschedule for them, or they let them default. The end result will be that they default no matter what, if they know what is good for them. But if the banks want to keep this game going and squeeze as much juice out of them as possible. They know what they have to do.

 

http://ericsprott.blogspot.com/

Thu, 05/12/2011 - 15:11 | 1269013 carbonmutant
carbonmutant's picture

The Irish are a special case...

Thu, 05/12/2011 - 15:14 | 1269014 Eireann go Brach
Eireann go Brach's picture

The lads from the Easter 1916 Rising era must be turning in their fucking graves watching this pathetic groveling going on, tell the EURO, Trichet and all the wankin fucking bankers to go Fuck themselves and let the ensuing doiminos fall as they may.

"They think they have forseen everything, but the fools! the fools! the fools! they have left us our Fenian dead; and while Ireland holds these graves "Ireland unfree shall never be at peace." 

Padraig Pearse

Thu, 05/12/2011 - 15:19 | 1269036 Theta_Burn
Theta_Burn's picture

+1

Thu, 05/12/2011 - 15:20 | 1269044 carbonmutant
carbonmutant's picture

+10

Thu, 05/12/2011 - 15:20 | 1269053 dexter_morgan
dexter_morgan's picture

++

Thu, 05/12/2011 - 15:59 | 1269206 hedgeless_horseman
hedgeless_horseman's picture

+ Wolfe Tone...

"To subvert the tyranny of our execrable government, to break the connection with England, the never failing source of all our political evils, and to assert the independence of my country--these were my objects. To unite the whole people of Ireland, to abolish the memory of all past dissentions, and to substitute the common name of Irishman, in the place of the denominations of Protestant, Catholic, and Dissenter--these were my means."

Thu, 05/12/2011 - 20:20 | 1270179 zippy_uk
zippy_uk's picture

So has Ireland fallen fowl of the Euro, or is the Euro about to fall fowl of Irish politics?

If I was a Eurocrat I would be shitting bricks about Ireland

Thu, 05/12/2011 - 15:19 | 1269037 dexter_morgan
dexter_morgan's picture

What, the Guinness supply running low?

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