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Ireland Given 24 Hour Ultimatum To Take Bailout Or Be Responsible For Pan-European Contagion
Domino 2 is done. Europe's banks are about to be rescued again as Europe's taxpayers foot the bill. In other news, former SAC star money manager Ron Insana says Ireland does not seem to be that much of an issue.
From the Guardian:
An increasingly isolated Irish government was coming under mounting pressure tonight to seek a European or International Monetary Fund bailout within 24 hours amid fears that contagion from its crippled banking sector might spread through the weaker eurozone countries.
Portugal, Spain, the European Central Bank and opposition parties all urged Brian Cowen's coalition government to remove the threat of a second crisis in six months by putting a firewall between Ireland and its partners in the 16-nation single currency.
With finance ministers from the eurozone due to hold emergency talks tomorrow night, financial markets were expecting Dublin to finalise negotiations with the EU over the terms of a deal to allow Ireland to rescue banks laid low by the collapse of the country's construction boom.
"The Irish problem is spreading, but it could get more volatile," said Ashok Shah, chief investment officer at London Capital, a fund management firm. "They have to get this bailout, they have a period of time before it gets impossible, before nasty things happen. The longer they leave it, the more difficult it will get."
Portugal has seen its borrowing costs rocket along with Ireland's as speculation has grown that it too may have to consider a bailout. Its finance minister, Fernando Teixeira dos Santos, told the Wall Street Journal his country had been hit by a contagion effect caused by fears about Ireland's ability to pay its debts.
"I would not want to lecture the Irish government on that," he said. "I want to believe they will decide to do what is most appropriate for Ireland and the euro. I want to believe they have the vision to take the right decision.
And some other front pages for tomorrow:
h/t @Lizzie363
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The harder they come, the harder they fall, one and all.
Not sure if this will apply to the people or the machine:
Well they tell me of a pie up in the sky
Waiting for me when I die
But between the day you're born and when you die
They never seem to hear even your cry
CHORUS:
So as sure as the sun will shine
I'm gonna get my share now of what's mine
And then the harder they come the harder they'll fall, one and all
Ooh the harder they come the harder they'll fall, one and all
Well the officers are trying to keep me down
Trying to drive me underground
And they think that they have got the battle won
I say forgive them Lord, they know not what they've done
CHORUS
ooh yeah oh yeah woh yeah ooooh
And I keep on fighting for the things I want
Though I know that when you're dead you can't
But I'd rather be a free man in my grave
Than living as a puppet or a slave
CHORUS
Yeah, the harder they come, the harder they'll fall one and all
What I say now, what I say now, awww
What I say now, what I say one time
The harder they come the harder they'll fall one and all
Ooh the harder they come the harder they'll fall one and all
I bet the countries just outside the EU fraud banking complex of free trade (and easy fraud) are doing comparatively much better and the real liquidating hasn't even begun.
The least strong and least rich countries lose the MOST when they get involved in fraud systems. It's set up to DO THAT.
The people of the EU will have learned the same lesson as the U.S. states when it comes to federal power. It looks good on paper, in a war against a bigger threat, but it screws you in every other conceivable way. Federal power is a massive control fraud. Add private banking control of the currency and splash a little corporate citizenship law and limited liability, all out fraud.
Total destruction.
+32.33, uh, repeating of course.
Not all of them.
A lot of debt in Hungary, for instance, is denominated in Swiss francs. And as that currency has shot up in value relative to the forint, the hungarians have been screwed. Imagine you are paid in forints from your job but the forint has lost, say, 25% of its value compared to the swiss franc. But you have to make your mortgage payment in a certain number of swiss francs. You are screwed.
The Czechs are probably okay, though.
The Swedes, god bless 'em, were the only ones anywhere, not Japan, the U.S. or anywhere in Europe, who did the right thing and tore up their banks instead of screwing all their citizens. Go Sweden!
all will be okay...
phew...
Guinness will be valued like gold. Leave the Euro and start over.
I hope not, I was hoping my gold would last longer than a piss up!
The good thing is that I do not see the Irish in a Serfdom situation. Too much bitter in the blood. They should fuck the Bond holders. You will drink Busch, Piel's, Milwaukee's best et al. Taste like shit, but gets the job done. the Irish are fighters, while most world wide are candy ass. Now is a Bobby Sands moment! (wrong or right, it's about the fight)
So I'm thinking that all this sounds familar and then it comes to me, it's right out of a Bill Still documentary. Let's hope the Irish decide to print their own debt free money and show the world how it's done before their finance ministers & top politicians get murdered.
The expulsions of the German speaking peoples from Sudenten Czech in 1945-46 was pretty wasn't it ?
Competitive devaluation - Merkel's and now Lagarde's comments about an effective default must be aimed at reducing the value of the Euro, at the expense of the European periphery economies like Ireland.
Thanks. I appreciate getting 24 hours notice that the world as we know it may end. Time to stock up on something.
I have NH land. 5 acres for an escape cabin. Not expensive as I paid 8K.
I am Carioca
See you in the foothills in NH neighbor. I'll bring the coffee and sugar.
Most of us have been prepping for it in the last 2 years.
"May you be in heaven half an hour before the devil knows you're dead."
- One of the needle points my grandma had in the kitchen along with spoon collections (never did understand the Irish elderly and their affection for collectable spoons)
I have a few spoons. .925 sterling. ;-)
Mine are pewter from Franklin Mint. American Revolution.
I suspect that Irish MPs will be fearing for their lives if they go ahead and sign for an IMF Loan. "Increasingly Isolated" Ireland? The MPs are not isolated, they got a lot more to worry about from the IRA if they sign on the dotted than they do from some Suits from France and Germany. Seriously folks, there will be mucho Violence if the MPs buckle to the IMF.
I think some Bankster Pigmen are shitting bricks right now in Brussels. If Ireland Stands Tall, the rest of the PIIGS will follow suit. Thus begins Global Thermonuclear Currency Annhiliation.
RE
Well its been a real long relationship probably 50 billion years but we Brits and the Goats on the Isle of Man are really gonna miss you over there,but don,t worry we,ll meet again real soon as we are on our way as well.As our great Sage,Luminary and Z-part actor Gordonius Brownus Pantus said " We,ve beaten Bust " just before he pressed the button on the computer and sold off half the countries Gold reserves at the worst possible price and time,a real modern example of a bad lad gone badder,he sealed our fate and long term relationship,but we,ll be there with you soon both without a pot to piss in,locked forever in a death spiral,how romantic.........................
Well we all know how the Greek story ended. The ECB "solved" the problem. It will be the same for Ireland, and then Italy, Portugal, Spain, etc. Nothing to see here, move along.
I'm tempted to agree - if the Irish refuse to play ball, why wouldn't the ECB just buy their bonds to keep down the yields?
Or get the Fed to do it. The Bernank likes bonds, no?
Because this is a bailout for the ECB. A fifth of ECB funding is now in Irish banks. If Ireland or its banks blow up just now then Europe's largest insolvent bank will explode too. Or would, if it didn't have its getaway machine purring. Nonetheless there would be a huge political stink, as well as a financial crisis as some other dodgy European banks fess up to their Irish holdings. So the ECB is playing rough in order to dump the problem on the EU member states and (of course!) Ireland.
At this rate they'll be playing golf with bamboo shafted clubs
Hahaha! Begging for a bailout = being "responsible." Funny, I always used to think being responsible meant owning up to mistakes.
is your mortgage current?
Risk assets are still selling off.
ES futures, oil, gold now trading at the lows of the session.
But looks like an attempt by the PPT to put a bid in and rescue bonds.
Tanks! Would never have known
But that goes against the Fed's madate of high stock prices.
Erin Go Bragh!---less ! :)
I'm not sure that would be a good thing.
Too many parties can manipulate markets, too many points of leverage.
Daily news is market making.
Merkel also isn't in a particularly strong position domestically. She lost a key domestic election a few months back in May. A bail out set against the back drop of a weakening political situation in Germany might finish her. Save Ireland, generate more domestic anger and strengthen the Euro to the detriment of German exports or sacrifice Ireland and let the Euro weaken to the benefit of the German economy and her political career.
Though I suppose the bankers are in charge of this one.
Wonder if it is worth buying some OOTM puts in some of these http://www.ft.com/cms/s/0/7db51bd6-cd8b-11df-9c82-00144feab49a.html#axzz15Ot5dWtx just in case the Irish domino does fall? Notice the horribly incompetent state-bank RBS is once again the idiot at the top of the pile.
RBS being owned by the British government makes this an amusing situation, Ireland surrendering to the IMF to save banks in London.
RBS didn't and doesn't benefit from the Irish government's banking bailout; it's being taken care of by London. Bloody lucky for the Irish that. Cheers Alistair!
I don,t think many people realise the reality of whats going on here,all these collapsed economies can,t pay their debts,bailouts only buy time while weakening the rest of the banking system as well as taking out so many millions of consumers,therefore who is going to purchase the world out of depression.Sooner or later the debts will spread to healthy economies which along with currency wars,stock markets devoid of reality,bond market bubbles,etc,will cause complete chaos,huge swings and Gold and Silver will head over the horizon.Anyone who things the Globalisation of the markets does not effect them with events like this better think again.Ah well better get another 100 ozs Silver tommorrow when I go shopping.
Death of a thousand cuts -- it's not the cuts that kill, it's the blood loss!
deleted
Reccommendation:
1. Buy Euro Now on the dip
2. Sell when Irish Bailout Announced
3. Portugal and Spain, Rinse and Repeat
Past performance is no guarantee of future results. Caveat Emptor
-------------------
Does anyone really think that they're not going to take it ? Come on...the "free world" depends on them....lol ; We'll most likely rally a bit, then we'll hear from US that FED is contemplating the letter from the 12 Angry Men and the EURO will tank.
That's why this market's a joke. Fundamentals are meaningless.
Seems to be what's happening right now. Euro turned on a dime and started higher. I think the Euro in relation to the dollar will continue to stay at these levels with or without an Irish bailout.
I wouldn't be surprised to see 1.40 again.
What actually gave it impetus is that the EURUSD pair is bouncing here off a long-term Fibonacci retracement level @ 1.35633.
It won't hold.
Unless yer in gold. RRRrrrrrr mateys!
There getting that zone prepped for the global bank IMHO.
The Irish are perpetual slaves. I don't look for this time to be any different. Blowhards behind their beer, tough on women and children, but kissing the boots of the oppressors. Prove me wrong, sons of Erin.
your opinion does not matter.
To say "prove me wrong" is arrogant, disrespectful and
-IMHO satanic consciousness--
and -BTW -my opinion does not matter either.
The Irish are perpetual slaves. I don't look for this time to be any different. Blowhards behind their beer, tough on women and children, but kissing the boots of the oppressors. Prove me wrong, sons of Erin.
I dare you to say that shit in Boston.
"thart shart"? does that sound about right? You deed sayr "in Bawston" right?
Be dog wide my little sham-feen or I'll claim ya and bate yer arse until even the blue bottles have to shake their heads and say, "oh the state of that lil' whacker la..."
I am afraid you may be correct - our history is not a noble one in many ways yet yet there is always hope.
Many of us were disgusted with the excesses of the credit boom and are feeling wounded and used.
Yet some are saying we should stand and fight these flying monkey man.
Men such as Tom mcgurk who writing in the Sunday business post stated we need to engage in another land war.
Wether there is a critical mass of people open to such arguments and prepared to fight is open to debate.
Speaking as one of the disgusted, I fear we are in the minority. Too many of the critical masses are too busy spending the leftovers from reduced mortgage payments on christmas tat.
I despair.
If you stand around and do nothing your nation will be stolen lock,stock and barrel,the banks were privately owned entities who assumed risk was a thing of the past,you could lend to whoever you wanted,at whatever terms and all you had to do was insure against loss,totally insane, but why should the public purse (unborn infants will pay the debt) indemnify private risk.Don,t think we are gloating in England,we are just not as far down the road yet.There has to be some kind of unifying of nations and people to say enough is enough and default to save something from the ashes.
One of the best books I ever read was "How the Irish Saved Civilization" by Thomas Cahill.
Do it again boys!!!!
"The Year of the French" by Thomas Flanagan but they lost that one too-1798. The Irish never saved anything.
I didn't junk you but thanks for the recommendation. Mine is about how during the Dark Ages the only remnants of written history or any literature existed in the Irish monasteries and that is how civilization survived. A darned good book.
I suspect the Saracens might not agree.
Both the Saracens and Italians got their Classics from the Byzantine libraries. There was quite a bit of Civilization left around during the Dark Ages, including written texts.
The Ornament of the World: How Muslims, Jews and Christians Created a Culture of Tolerance in Medieval Spain by Maria Rosa Menocal
Thanks. And here's something I hope you enjoy as much as I did:
Sailing from Byzantium: How a Lost Empire Shaped the Worldhttp://www.amazon.com/Sailing-Byzantium-Empire-Shaped-World/dp/055338273...
It basically gives a more global view of things, from the formerly Western Roman Empire, the Arab view, and the Russian view. He points out how the Arabs did indeed get the Classics from Byzantium, which later migrated elsewhere, including Spain.
Of particular note was how Italy (and later the Renaissance) was influenced directly by the Italian effort to save the Classics. Which was done by a handful of people, and financed by one.
Even more noteworthy was the author's observation that periods of learning are rare throughout human history; and typically last about 200-300 years. If you consider that the Enlightenment was the start of the most recent period, then we're coming to the end of this period about now.
The start of a new Dark Ages is something to consider.
"If you consider that the Enlightenment was the start of the most recent period, then we're coming to the end of this period about now."
- should read "The Endarkenment".
Thanks all for the great recommendations. I love this site.
But the Irish still have to HOLD THAT LINE!!
They'll sit down over their usual 7-course meal - a sixpack and a potato - and then mutter: gimme da $$$$$$$$$$$$.
....and then came the moneylenders to fuck shit up......
If it wern't for the Normans there'd be no culture in GB, nothing but mafia in Sicily and the crusades would never have happened.
So if the Crusades never happened, then we wouldn't have fractional reserve banking owned lock, stock and barrel by the Rothschild Bank?
Anyone have a time machine?
I certainly can't argue with that.
Too bad it was all buried at Nag Hammadi.
The prime minister has to be given a way to save face. If he caves, he'll look like a weenie (not that he doesn't already).... EU has to buy him a house or something. Make it worth his while....no ?
Hell yes I want a rescue and I'll take another E100B loan too!
HAHAHAHAHAHAHA!!!
You guys haven 't mentioned that Ireland has a big election Nov 25 and a lot of these press leaks are from the opposition. The PM is from a coalition and it's a weak one. The opposition is going to claim he has mismanaged everything and win the big seat at risk. His majority will shrink and probably disappear in other elections of 2011. The opposition will NEVER cave. That's why the pressure is NOW.
I heard a rumor that Ireland plans on accepting the bailout.
Ummmm...you know, your really reliable source aside, I rather think a bailout of Greece is up to...ummmm....Germany.
And...ummmm...word out of Germany is, and I'm paraphrasing here, "Piss off and default."
So we shall see there, bob.
Cdad
IMF ~ More dollars.
Ummm...Spalding...where do you think the IMF gets $? From the country of International Monetary Fund?
Seriously...is there something in the water tonight? Maybe huge doses of wishful thinking slipped in with the fluoride?
Ummmmm....Cdad..... Thats the point uncle sugar/USA.... Always a bid/floor/churn under said dollar.Once again for the slow of foot' Dollar denominated debt. Its a global spider web. Every day more and more dollars needed/wanted/borrowed to fund debt servicing.
See " Confessions of economic hit man" for insight into the dollar/debt game its global and its in the trillions credit market debt has doubled over the last 8 years 160 trillion. This is not denominated in renminbi .... Lol'
Spalding...yeah, I get it...your call. However, your call is simply the status quo. Ummmm...things have changed.
Did you catch Nowotny's interview? Ever see a chap so uncertain? Have you noticed the relative implosion of the Euro?
And have you noticed here in the US...average American Joe is awake...and pissed off? And you think the Fed will just write a check for Ireland? That is your plan?
And did you notice...Ireland and Portugal are flipping the bird at the banksters?
Seriously, Spalding...any lamo could make the call that "all is the same as yesterday." It works...until it doesn't...which I think is right about now. Good luck with your Irish bonds, Spalding.
Harry was just through here...he is looking for you...
Perhaps you ought ease up off of whatever bottle you've been drinking from yourself.
Make sense or STFU.
I'm not sure how to approach this.
I wasn't talking about Greece?
EU wants Ireland to accept a bailout but Ireland wants it on their terms. See if Ireland refuses a bailout than the ...shit...is...on and we go back to crisis mode.
If Ireland refuses to get bailed out:
-Spreads blow out and cause a shock wave through the financial universe
-Hedge/Pension fund managers get blown across the trading floor and bang up against the dry erase board.
-The electorate gets pissed off and storms shit....flying monkeys come down and swoop up government officials and bring them to George Soros' dungeon where he sucks them dry of blood.
-Women and children will fuckin' cry.
-Other scary crap that makes grown men shit/piss their britches.
- pants, filled.
The Flying Monkeys part is pretty compelling. I'd sneak into that movie.
Potato Famine II, brought to you by the European Central Banks.
Classic Cartoon - No Bailout Needed Here.....
http://1.bp.blogspot.com/_boO_BV8n9ko/TOHeXYKtKLI/AAAAAAAAITg/CYnKl4og9Jc/s1600/5dmp.JPG
Chart: EURUSD
Channel.
http://99ercharts.blogspot.com/2010/11/eurusd_1974.html
http://www.zerohedge.com/forum/99er-charts
I know next to nothing about this stuff, so don't laugh, but how about this for a solution for Ireland. Don't laugh too hard
1) stop bench marking Irish pension funds to German bonds and switch to sovereign annuities,
2) this should bring down the yields of Irish bonds,
3) sell a bunch of new bonds to the pension funds,
4) secretly load up on silver!
"secretly load up on silver"
if you know how to do it - there is a Nobel prize for innovations...JPM is collecting the scrap...there is none left...
Domino 2 is done.
Let's see...G, now I(1)...next up: P, I, S.
When it comes to Italy I bet the Germans take their vig out in trade...
More like "P, I, S, B, L, L, H, R, S, U and maybe P and maybe B--thought the latter two are doubtful."
Breaking News: Ireland plans to drop Euro, adopt Potato currency.
Ireland plans to change its currency from the Euro to the Potato, a new currency convertible to potatoes, according to an "in the know" source who wishes to remain anonymous until the official announcement of the "switcheroo". The Irish Finance Minister shortly will announce a one week bank holiday during which Irish bank deposits denominated in Euros would be converted to Potatoes. The new Irish currency will be redeemable in potatoes and issued in these denominations:
One Pound of Potato Note
Five Pounds of Potatoes Note
Ten Pounds of Potatoes Note
Twenty Pounds of Potatoes Note
One Hundred Pounds of Potatoes Note
Five Hundred Pounds of Potatoes Note
One Thousand Pounds of Potatoes Note
Squabbling over what variety of potato will be depicted on each Note is delaying the Note printing process. Lobbyists for the two most popular varieties of potato, the Rooster and Kerr's Pink, are waging a behind-the-scenes last-potato-standing cage fight to win the coveted prize: engraving of their potato on the face of the One Thousand Pounds of Potatoes Note. Less ""floury" varieties will have to be content to be depicted on the lowly One or Five Pound Note.
One other hurdle is how to cushion the "switcheroo" to repay bondholders of Irish bank debt with Potato Notes rather than Euro Notes. Bondholders are not big potato eaters and prefer to eat caviar, foie gras, escargot, Wiener Schnitzel, and children of future generations. To sweeten the deal for bondholders, for each one million Pounds of Potatoes bond conversion, the Irish Finance Minister plans to add a one-time issued Note for one thousand pounds of Irish blood pudding, a traditional Irish sausage made from pig's blood, onions, herbs, spices, oatmeal or barley.
During the bank holiday the Irish Finance Minister intends to convert Euro (EUR) to Potato (PTO) at the rate on One Euro = Two Potatoes. For those interested in Forex trading, here is handicapping of key exchange rates assuming the Irish launch the Potato next week:
PTO/USD = .68
PTO/EUR = .5
PTO/GBP = .42
PTO/CHF = .67
PTO/YEN = 55.75
The reckless debt acquired by Irish banks is forcing the Irish government to abandon the Euro and establish its own currency and control over monetary policy. To rebuild public confidence in the Celtic Tiger, Ireland has decided to establish a hard currency redeemable in hard potatoes. When asked why Ireland is choosing potatoes rather gold to back the new currency, the "in the know" source responded, "Well, you can't eat gold, can you now. Hi di-diddly-idle-um, diddly-doodle-idle-um,diddly-doo-ri-diddlum-deh."
When asked about the potential for a bank run in which the Irish public demands their Notes be redeemed for potatoes, the "in the know" source responded, "Well, if you go to the bank in a bank run and redeem, say, Notes for 10,000 Pounds of Potatoes, what, pray tell, are you going to do with 10,000 pounds of potatoes?...sell them to the all the other lads who redeemed thousands of pounds of potatoes? And how many pounds of potatoes can you carry out of the bank...10,000 pounds? There arent enough wheelbarrows and donkey carts in all of Ireland to cart away the potatoes in a bank run, so there will be no bank run. Argh, isn't that the beauty of the switcheroo. Too-ra-loo-ra-loo-ral,..come on, sing along....
"Too-ra-loo-ra-loo-ral, Too-ra-loo-ra-li,
Too-ra-loo-ra-loo-ral, hush now, don't you cry!
Too-ra-loo-ra-loo-ral, Too-ra-loo-ra-li,
Too-ra-loo-ra-loo-ral, that's an Irish lullaby."
http://kids.niehs.nih.gov/lyrics/irishlull.htm
Well, it made me laugh.
Perhaps, if the Irish wake up from their media induced slumber, they will realize that accepting the bailout means they will be slaves to the system for all eternity and the bankers will walk away with all the money they ever need! (Bankers in Dublin but mostly bankers on WALL STREET get the money!!!)
I am amazed that the Irish (and the supposely fearsome IRA) have allowed themselves to be sooo controlled by the Western Elite Banks.
But then, the Irish havn't exactly been exalted by all for their critical thinking.
Why oh why have the irish gone like sheep to the slaughter?
(because back stopping the faulty loans of their banks is doing exactly that).
But that begs the bigger question; when one tells the Big Western Banks
to go F... themselves , that means an end to immediate credit.
Ergo.. that equates to ... (at least for awhile)... pay as it goes.
Not many people or countries prepared for that.
And that in a nutshell is the essence of the problem.
Everyone seems out to offload the heavy lifting to someone else.
Untill one is prepared to be out of debt, pay ones bills on the spot...
they're a serf, a slave, a DEBT SLAVE.
Not a good way to go through life.
They don't need foocking credit! They can just re-issue Irish currency (sorry, cant remember what it was) as debt free sovereign money. Just convert EU dollar in the country for Irish currency 1/1 and default on all foreign held (specially banks) held debt. Starting again from zero is like going thru bankruptcy. They can use their taxes to control the inflation on the sovereign and tell the EU banks to sod off!
Ireland, tell them to fuck off. Acknowledge that you sense a non-zero solution to the offered bargain.
Remind them, Game Theory always defeats the weak. When told your the weak link, just smile back.
Ireland , you are a prowd people .. Tell the IMF to go to Hell.
Default on the debt... start over fresh .. new Ireland
currency... set the trend... make the bankers un-employed
now they are the ones out of work.. they are the ones
putting their houses up for sale... The sun will still come
up like before... Hey Greece , do it too... reject the Euro...
Shut down the IMF , Shut down the Federal Reserve..
Freedom Now....
TELL EM TO GET FUCKED IRELAND!
Flogging Molly: What's left of the flag
http://www.youtube.com/watch?v=Qlym4eLWHFA
His eyes they closed
and his last breath spoke
he had seen all to be seen
a life once full
now an empty vase
wilt the blossoms
on his early grave
walk away me boys
walk away me boys
and by morning we'll be free
wipe that golden tear
from your mother dear
and raise what's left
of the flag for me
then the rosary beads
count them 1 2 3
fell apart as they hit the floor
in a garb of black
we must pay respect
to the color we were born to mourn
walk away me boys
walk away me boys
and by morning we'll be free
wipe that golden tear
from your mother dear
and raise what's left
of the flag for me
In its place grew
an angry festered wound
full of hatered and remorse
where I pick and scratch
till the blood it matched
silent rage that now fills my lungs
for there are many ways
to kill a man they say
with bayonet, axe or sword
but son a bullet fired
from a shapeless guise
just put the shell of a Thompson gun
walk away me boy
walk away me boys
and by morning we'll be free
wipe that golden tear
from your mother dear
and raise what's left
of the flag for me
from the east out to the western shore
where many men and many more will fall
but no angel flies with me tonight
though freedom reigns on all
and curse the name for which
we slaved our days
so every men chose Kingdom Come
But sure as night turns day
it's the passion play
oh my god
what have they done
with madman's rage
well they dug our graves
but the dead rise again you fools
walk away me boy
walk away me boys
and by morning we'll be free
wipe that golden tear
from your mother dear
and raise what's left
of the flag for me
walk away me boy
walk away me boys
and by morning we'll be free
wipe that golden tear
from your mother dear
and raise what's left
of the flag for me
Dropkick Murphys - Fields of Athenry
http://www.youtube.com/watch?v=rplbo1Uw0Xo
"They have to get this bailout".... LOL, No they dont. Hash Browns and Tator Tots and wiskey is all they need.
May you be in heaven half an hour before the devil knows you're dead.
May you be in heaven half an hour before the devil knows you're dead.
May you be in heaven half an hour before the devil knows you're dead.
May you be in heaven half an hour before the devil knows you're dead.
May you be in heaven half an hour before the devil knows you're dead.
May you be in heaven half an hour before the devil knows you're dead.
May you be in heaven half an hour before the devil knows you're dead.
May you be in heaven half an hour before the devil knows you're dead.
May you be in heaven half an hour before the devil knows you're dead.
May you be in heaven half an hour before the devil knows you're dead.
May you be in heaven half an hour before the devil knows you're dead.
May you be in heaven half an hour before the devil knows you're dead.
May you be in heaven half an hour before the devil knows you're dead.
Some Irish rebel music. http://www.youtube.com/watch?v=NmnJ1FZv9ZU&playnext=1&list=PL73C715365E4...
http://www.youtube.com/watch?v=iTBXbm4JFxU&feature=related
This is an old classic:
F*** the British Army
http://www.youtube.com/watch?v=NscSGuqr2QU&feature=related
Tell them you'll take the loans if you can pay them back in Guiness, whiskey, sheeps wool, and potatos. At least that will provide some benefit to the economy.
Go Eire, tell the bankers to take their deal and shove it up their arse!
All these Debt. notes need to just be shut down...
Hair - Cut for the Big Shot Bankers
Default PIGS , then the USA ..
Ben Bernankee out of work.., a guy looking for a job...
What would Bono do?
Say three Hail Mary's?
Establish tax exile in the Netherlands.
Lend To Me
I'm Irish
Well, we've seen this before. We've been here how many times these past 2 years? The dominoes are about to fall, the contagion appears unstoppable, a market meltdown is at hand. Then, the Fed comes up with yet one more creative means of delaying the inevitable.
The Fed is unbelievable. How they come up with all new unexpected, unpredictable ways to realign their interests time after time is extraordinary. Maniacal.
I have to admit, I underestimated their mastery of creative self-preservation. Consequently, I fairly expect the Fed will come up with some new extend-and-pretend solution to the renewed Euro crisis---a new fix we never considered.
Correct, the fed is remarkably resilent... just like a cockroach.
Duct tape?
Did I pick the wrong day to open an account with Chase? I couldn't resist the $150 offer to open a checking account. The catch is I have to keep the account open for 6 months. I guess JP Morgan Chase will still be around in May, maybe.
giving aid and comfort to the enemy is wrong-- and make no mistake, they are exactly that.
The No-Shop Zone by Karl Denninger Black Friday is coming.Christmas is coming.
And you, Dear Friends, have a choice to make.
You can ratify - or reject - the illicit $600 billion tax increase that Bernanke just landed on our economy with his ill-conceived and outrageous "Quantitative Easing" nonsense - especially the most-vulnerable members of our economy - the poor and working poor, who are disproportionately impacted.
How?
Simple: DO NOT DO BUSINESS THIS HOLIDAY SEASON DIRECTLY, OR WITH ANY MERCHANT THAT BANKS WITH:
These are the four largest banks in America. They are the ones who disproportionately benefited from the bailouts, and who continue to hold hundreds of billions of dollars on their balance sheets of HELOCs and other home loans that are worth far less than what they are claiming.
These are also the banks in the middle of Foreclosuregate. I remind everyone that Citibank's former Chief Underwriter said, under oath, that Citibank was knowingly making bad loans - 60% by 2006 and 80% by 2007 - and selling them off in securities to pension funds and other investors. Instead of being forced to eat these bad loans and be closed as a consequence they were bailed out with our taxpayer money, and still are by Bernanke's "Quantitative Easing."
Exercising your lawful right to refuse consent to this is simple: Ask the merchant you are considering purchasing from who they bank with. Be cordial. If it's one of the above, take your business somewhere else and tell them why.
If you have accounts at these banks: Close them and move your money somewhere else - to a local bank or credit union.
To Merchants: You can avoid this. Close out your merchant and deposit relationships with these institutions. Use a local, community bank instead. If you're a large chain, use someone other than these four. There are alternatives and choices.
We as consumers must choose. We have every right to deny these institutions any benefit from our business, and to continue to do so until every one of their so-called "assets" is marked at the market, transparently, and the Federal Reserve's "accommodations" that are making possible the hiding of losses - both QE1 which created a huge ramp in oil and commodity prices, and QE2 which is doing more of the same, along with severe damage to the value of the dollar, is withdrawn and in fact reversed.
We have the choice to withdraw our consent to the inappropriate levying of an effective $600 billion tax on Americans via higher prices for gasoline and basic foodstuffs - a tax that disproportionately hits the poor and middle class. A tax that is seventeen times the size of George Bush's "Tax Cuts", yet was unilaterally enacted by Ben Bernanke without Congressional authorization or debate.
Freedom of association includes the freedom not to associate and not transact. I elect to do so for any firm that banks with these four "monster banks" who literally ate our nation's prosperity.
JOIN ME IN THIS PROTEST, STARTING NOW, AND DENY THESE INSTITUTIONS ANY ABILITY TO PROFIT FROM YOUR ECONOMIC ACTIVITY.They did tell you that there is a $35 a month account fee right? Lets see... ($35x6)-150=$60 benny bux for Mr. Chase. The house wins. Next!!
The poor Irish, they're going to wish the the Emerald Isles had the potato famine to worry about again.
Bring it on, me boys - cataclysm builds character.
"I would not want to lecture the __________ govt. on that," he said. "I want to believe they will decide to do what is most appropriate for _______ and the euro. I want to believe they have the vision to take the right decision."
They may want to put a firewall between Ireland and the rest of Europe, but if done the next 6 months will have another one of the PIIGS in the country slot to have a firewall erected around them. The nerve of some of those countries, they are running scared because Ireland's problems is their problem and they know it. 24hrs, just 24hrs, Just making this comment tells me that the other PIIGS are that far away from having to request help. They must be on egg shells truly.
Let me know when the sex tours to Ireland start. I wouldn't mind seeing my rod inserted into a tight firebush.
You forgot the Giggidy-giggidy.
William Fitzpatrick?
Patrick FitzWilliam?
When someone raises the spectre of "contagion" there are 2 possibilities. First, there's no realistic chance of it becoming contagious (ex. domino theory circa 1964). Second, the contagion has already spread and is out of control.
solution: tax everyone who claims to be Irish on St. Patricks day
Fight the good fight, boyos.
Since when did the Guardian start quoting Ashok Shah from London capital? What? I suppose Ireland has spent enough time out of the limelight, now our only use is to contaminate the rest of Europe it seems... i would gladly plant the poison into its neck with my own teeth.
So the news this morning looked something like this...
EU: Ireland you take this fucking money or else...
Portugal: Uh... me too.
Greece: Hey guys remember that loan you're giving us... turns out we're going to need a little bit more.
I would pull the trigger, just for a change...
Don't worry, the news channels are all covering Prince William getting married now....Phew, we were close to an Irish collapse there, thank goodness something more important cropped up.
The Irish have funding through mid 2011. They are not near collapse. However, they are very near telling the IMF to go fuck itself and prepare for a credit event.
The two things are very different...and hat tip to the Irish for doing what has to be done.
Come mid 2011...maybe you will be correct, but somehow I think the Irish can take that and do what has to be done...contrasted with the Greeks which seem hopelessly disconnected from reality...but that is another subject.
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