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Ireland Sells Out Its People To UK, Germany Bankers, Will Apply For Rescue Tonight
And so the can has been kicked down the road one more time as Ireland's Brian Lenihan has just sold out his country to the IMF, the ECB and the Fed for a few extra years of puppet control. RTE reports
that EU Finance Ministers are due to hold a conference call later this
evening during which Ireland is expected to make a formal request for a
financial rescue package. What is not discussed is how the Irish people,
now likely furious at being manipulated over a lost cause will express
their anger over being the latest sheep used to bail out Europe's ever
more insolvent banking system. They can at least sleep soundly, that
they won't be the last. After today's rescue of Ireland, the vigilantes
will focus their undivided attention on Portugal and Spain - perhaps
these two countries will be a little less timid when it comes to
rescuing Germany's banking oligarchy.
From RTE:
EU Finance Ministers are due to hold a conference call later this evening during which Ireland is expected to make a formal request for a financial rescue package.
An EU source said the request would be approved during the call.
It follows confirmation by Minister for Finance Brian Lenihan that he would be recommending to the Cabinet this afternoon that an application be made to the European Union and the International Monetary Fund.
Speaking on RTÉ's This Week, Mr Lenihan said he will propose the application to this afternoon's meeting of the Cabinet.
The Minister confirmed that discussions with the agencies had concluded yesterday evening.
Ireland will now be formally applying for a rescue programme and formal negotiations will begin.
He confirmed that the amount of money involved amounted to 'tens of billions' of euros but denied suggestions it would be as much as €70 or €80bn.
Also, remember Paulson's bazooka dud? It's baaack.
He suggested most of the money would be used to cover the Government
deficit for the next few years, while most of the money assigned to the
banks would be from what he called a 'demonstration of firepower' that
would only be drawn down if required.
Lenihan seems to realize that allegations of his treacherous nature are about to kick into high gear, accompanied by violent demonstrations, riots and strikes.
The Minister said he had not misled the country over the past week nor did any of his Cabinet colleagues intend to mislead people.
He said it would the height of irresponsibility to have a General Election now, and that the priorities for the country were having the four-year plan and Budget in place.
Mr Lenihan said no concrete figure had been arrived at and that figure would be the subject of negotiations.
Of course it would be "highly irresponsible" to hold an election just after the Minister of Finance has been exposed to be the latest puppet in the global banker arsenal. After all, the people may actually let him know how they feel about betrayal.
One thing that apparently was not discusses was the imminent austerity that would grip the country far over and above what the country would do on its own theatrical ways. After all, Ireland has just ceded complete sovereign control over to the tyrranical trio of Jean Claude Trichet, Dominique Strauss-Khan and Ben Bernanke. Welcome to the club.
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How can any of these nations actually claim that there's democracy - government for the people and by the people. What a joke. Shouldn't there be a national referendum or something - which decides whether or not they take the bailout or go it alone ?
The best leverage a debtor has is the debt they've already incurred. Not taking the bailout would be a huge win for Ireland. Take a vote ! I would guess that the vote would fail and the banks would have to take the hits or have someone else step to the plate and offer to bailout the banks.
What a stupid way for a nation to act (taking the bailout). Cowards. Now they become subservient to the rest of the zone. Staying independent has the best rewards in the long run.
I think we may look back at a few days ago, when the long term UST, Portugal and irish bond yields blew out with the Greek CDS, as the beginning of the bond vigilantes reign of terror. That could be the multi generational inflection point that marks the downfall of this whole fuckin hindenburg economy.
The Irish PM, Brian Cowen, will be making a statement at 2015 Dublin time. That's in 18 minutes.
I hope the treasonous bastard utters the words 'I resign'.
The Irish PM's statement should be live on Sky News in 10 mins - http://news.sky.com/skynews/LivePlus
The bailout is reportedly less than 100 billion Euros.
Talk (kick the can) is cheap. Read the Martin Armstrong article posted above and then get ready.
Mo' money - that's the ticket! As the old saying goes, there are only two types of purely paper money, those that are already worthless and those that are going to be.
Max Keiser:
Ireland warned it will have to stump up state assets in bailoutCanada has done the same and we will one day beg the IMF for a bailout. They will steal all our gold in exchange for some paper.
agreed.
and the ruling elite who dominate the IMF will sit at the top with their boots on your neck.
...unless we fight back.
This day has been inevitable ever since the Irish government made the stupid, senseless promise to bail out its banks. The Irish banks are so far underwater and so big relative to Ireland's economy, there was just obviously no way the Irish people could afford to do that without an international bailout. And the really annoying bit is having to listen to Cowen and Lenihan pretend they stood up for Ireland's sovereignty. They stood up for the German and other foreign banks that stupidly lent their cronies billions, and they're sticking the Irish people with the bill, albeit at EU-subsidized interest rates.
"albeit at EU-subsidized interest rates." That's the really cool part of this "bail-out" thing. The rates WILL change when the loans renew.
I say fuck the bankers. Leave the Euro. Hand the banksters one Iro for every Euro and let them deal with it. After all it is all backed by property they financed. Why should they even be mad about it. They made the fucking loans.
Generational brain drain coming to an Ireland near you. Well done, Cowen, you bloated, fucking traitor.
"Ireland Sells Out Its People To UK, Germany Bankers, Will Apply For Rescue Tonight"
The above contains a typo. It should read : UK Sells Out Its People in bail out of Ireland.
$222B UK bank exposure to Ireland.
STFU.
them jugs just gave me a massive chubbar!
From this perspective it should be abundantly clear that bankers as legally sanctioned usurers and faux creditors have no place in a democratic society. They are neither desirable nor necessary.
They should be no more welcome than slave owners, political dictators or murderers. They have no right to insinuate themselves into economic relations as the only legal arbiters of debt and credit.
But having done so, they have impaired every other freedom inherent to the democratic ideal and continue to prevent a truly free market economy from taking shape.
http://endtheecb.ning.com/profiles/blogs/banks-have-no-place-in-a
This isn't debt slavery for Ireland. They are getting a loan to pay back loans... ponzi. Who says they'll ever pay it back? Who says they'll ever implement austerity?
It must be obvious to you huge brains on ZH that none of the sovereign debt will ever be paid back. It is the bankers and the creditors like China that are screwed, not the rest of us. They let it grow too big and no matter how hard they squeeze they can't get more blood out.
You have the positions of power exactly turned around. It is an act of DESPERATION for a creditor to give more money to a debtor.
it does not need to be paid back. it only needs to continue until the next collapse and further consolidation of assets and power.
Isn't it patently OBVIOUS now that the problem is not this government or that government, this level of government or that, or this party or that party, or even bankers...? The obstacle is the institution of coercive government, PERIOD...
the culprits are debt-based monetary systems and fractional reserve counterfeiting.
designed by bankers to serve bankers.
collapse is inevitable everywhere these mechanisms exist.
so again capitalism is prevented from working
If the excuse is that a default triggers too many CDS payouts
then why the f*ck aren't all these derivatives banned from now on and the rest null an voided
iif anything is too big to fail then its too big
Darwin would rise in his grave
Its meant to be that when people make bad loans and take on too much debt they go under and the prudent take over who havn't gone into debt
The Irish governmnet needs to go under and then be replaced with hopefully
a better bunch and the banks bond holders need to take the hit
all peoples deposits at all affected banks are bailed out
not the bond holders
utterly disgusting