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"If the Irish government does what it says it intends to do, which is its legitimate right, which is to deny their obligations to meet the debt of foreign banking institutions operating on Irish soil, run by the British Empire's Inter-Alpha Group, that means the toppling of the entire damned system," Lyndon LaRouche stated yesterday."
Could Ireland be the "King Edward III" of todays global banking system?
I would be happy if they just became Iceland #2.
go for it, ireland. you don't owe the money...don't let them rob you
Iceland is doing great now..Even started prosecuting some of the players that caused the shit in the first place..h/t to iceland...
So how long until Iceland gets put on the Terrorist list and we start invading them too?
they dont have re's or oil..there safe for now..Maybe later will invade for there clean h2o...
Why invade later if you could buy them up today for even less than a song?
much easier to haarp their volcanoes...
Iceland are in Hot Water. In a nice kinda way.
They should do that, I don't see why they haven't. I think that many of the nations leaders and big business players are in tight with the supra national banks and groups and they tend to do their bidding rather than what their country needs or wants. Ireland has close to 7 million people all total. And if you take away the retired or underage etc., you may have a working population of 3 to 4 million people. That isn't enough people to pay back in taxes the debt that the international banks want, Ireland owes hundreds of billions of dollars in debt (much of it private debt via construction loans and every other loan you can think of, actually I read somewhere that privately they owe 1.2 Trillion). The EU is doing everything they can from these countries just saying screw it we default and we won't pay this debt, see ya.
When this game ends, it will end with a loud bang.
Creditanstalt keeps drifting through my mind. Dunno why...
Everytime the $ falls below a particular level...bad news from Europe start ...been happening for some time now...
Pure coincidence. Honest.
In a stunning coincidence, this happens just in time to bring the POSX (usdx) back from the edge of the abyss.
LOL. Good catch.
Have to wonder how long this can play this game successfully. Already "the bounce" seems less and less each time.
At the end of last year, 2010...
Lindsey Williams said the powers that be plan to collapse europe first and then the $dollar (the $dollar being completely dead by the end of 2012).
He also said oil to $150-$200 a barrel because of middle-east troubles. Nice call there so far.
All an orchestrated collapse. When you're looting/robbing, it's always best for it to be organised and preplanned.
and then burn it all down when you are finished, leaving the peasants to fight among themselves about what happened.
Could not give two shits what a crackpot preacher had to say about finance.
so does that make caring about what bernanke says is different?
I would buy and bet on the Irish people if there werent PM's like Silver and Gold to get me that 10% and then some
With Asia (Japan) already melted down, if Europe keels over, the US is next.
That is the plan. Europe, Japan and China all collapse. The US is then up. If all the other sovereigns have defaulted, who does the US default upon? Its own citizens.
Help me out here .... don't have access to CDS Who has the largest exposure to the Irish debt? Which banks / indicies get hit hardest?
Why, the taxpayers, of course.
My mistake, meant to say "which GGE (gov guaranteed entity) is most likely to require bailing out by some new taxpayers if the debt the Irish tax payers were lumbered with defaults?
it doesnt matter, they all mark to market shit...
This graphic illustrates the situation quite well. It shows debt exposure by country, but figuring out which specific banks are holding most of the debt shouldn't be too hard.
Excellent ... thanks.
Germany, Spain and Brittain are looking pretty shabby with both Ireland and Portugal spluttering?
Indeed. Which is why Ireland has them over a barrel in terms of re-negotiating the terms of the so-called 'Bailout' last year.
Would Merkel and Sarkozy really take the chance of Ireland deciding to default on debt of that magnitude? They can't afford to. If they push their current grandstanding brinksmanship too far for local political reasons, they might just end up crashing the Euro, the Eurozone banking system and, of course, the global banking system.
Even if they do negotiate a haircut their (German, Brittish) banks and sharemarket will surely take a significant hit. If the only danger going short is that the Irish accept the debt and work extra hard to pay more taxes to service said debt ..... It's a pretty safe bet :-)
"Even if they do negotiate a haircut their (German, Brittish) banks and sharemarket will surely take a significant hit."
That is why they would never negotiate a reduction on the principle, they will just arrange for a payback over a much longer timeline, with a somewhat lower interest rate (and probably some ECB or IMF underwriting thrown in). Their interest rate will still most likely remain punitively high, but not unbearable. Changing the terms of their debt makes so much more sense. Once they get through that, the bond pump-monkeys will be all over the deal. They will crow about the need to rebalance your portfolio and include more sovereign debt - because it has proven to be secure, and offer a reliable return over time.
At best, with new terms the banks holding Irish debt will be allowed to "Mark to Model", and no losses will have to be realized in their holdings. It's all a game, and they make the rules to ensure a win every time.
Don't forget the "sweetener" usually thrown into the deal, a couple of billion for the politicians to use now, to buy votes.
"a couple of billion for the politicians to use now, to buy votes."
Now, is that money payable to the electorate, or to those who are charged with counting the votes?
"It's not the people who vote that count. It's the people who count the votes." (Josef Stalin)
Nice quote, but has not been validated as attributed.
Italy owes $1.4 trillion, $511 Billion just to France!
Now I know why France was jumping into Libya.
shall we take a moment to mourn the passing of Elizabeth Taylor, a great actress and a babe in her own right. Thanks for the memories..........
You think that is something, how about Lingerie Football League tryouts this Sunday. http://www.newsnet5.com/dpp/sports/sports_blogs_local/lingerie-football-league-to-hold-open-tryouts-sunday
Are you not entertained?
Er .....thanks for the mammaries?
you beat me to it.
Yes she was au naturale, no plastic involved on that body....ha ha ha
thanks for the mammaries.
The Irish are unfortunately squarely in the cross-hairs of the syndicate.
Once the IMF has their claws/fangs deep enough inside, watch it become another victim of the IMF debt-grip. The faster you rise (Ireland was astromonmical story), the harder, faster and deeper they will fall.
And whiel Ireland is meddled with, keep an eye on Spain, the big Kahuna, the one that will shake Europe and South America.
Isn't glow-ball-ization just grrrrreat?
At this point only the dumbest banks, those most closely associated with their own governments and who have no mark to market.
Citi will be the only one profiting from this. Look for a volume surge on a big buyer in cash bonds just before the ECB comes to the rescue.
This market is so rigged that if the TBTF's are saying periphery Europe is going down, I can guarantee they are not.
Ummmm, this may or may not be a dumb question, but, how high does Ireland intend setting their rates if Yields are topping 9.9-10%?????????
This is like borrowing from Peter twice to pay Paul once.
you mean "robbing Peter to pay Paul."
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