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Irish Spreads Jump As Country Is First To Officially Double Dip

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Thu, 09/23/2010 - 08:06 | 599431 Hot Shakedown
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http://www.youtube.com/watch?v=D22TlYA8F2E

Off Topic: Hopefully, there is still time to get people to pay attention and effect change at the state level -- then federal. This is not about  right wing - left wing or conservative - liberal.

It is about how the people of this country are about to be fuc*ed again by the international banking cartel that curently controls the "quantity of money" in our debt based system. We need to go back to the original, government contolled sytem WITHOUT fractional reserve lending and do away with the current (privately controled) "Federal" Reserve system that is creating and forcing the US (and world) into another depression.

This video highlights the ORIGINAL symbolism seen in Baum's "the Wizard of Oz" which has been surpressed. It is a fascinating history of monetary - banking system beginning with pre- Ceasar Rome (in brief) leading to Henry I, son of William The Conqueror,  thru 17th century -- then focuses (majority of film) in the US from 16th century - present.   MUST SEE. 1 hr 51 mins. -- it will change your perception of everything. Released 1 month ago. www.secretofoz.com

Thu, 09/23/2010 - 08:24 | 599453 Voluntary Exchange
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End the Fed yes, but replace it with freedom to choose what an individual uses for money. Having  a government that likes free money in charge of a forced fiat currency is a recipe for continuing theft through inflating the currency and deficit spending.

Thu, 09/23/2010 - 08:35 | 599475 LeBalance
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Effect change at the State level?  Do tell.  By what means?

Thu, 09/23/2010 - 08:07 | 599432 Deflation
Deflation's picture

Lucky Charms, Bitchez

Thu, 09/23/2010 - 08:12 | 599434 themosmitsos
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Department of Truth & Unicorns is a CLASSIC line AND I'M STEALING IT. Heads up ;)

[but it really shoulda been Dept of Truth & Leprechauns!] ;)

Thu, 09/23/2010 - 08:16 | 599437 Samsonov
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Also from the Department of Unicorns was Maria Bartiromo's interview with Spain's PM Zapatero yesterday.  The whole interview about economic difficulties was conducted in the past tense.  Maria, all whored-up for the chance of meeting Slick Willie at the Clinton Institute, actually asked how the problems were solved.  It was pure propaganda.

Thu, 09/23/2010 - 08:21 | 599448 bada boom
bada boom's picture

Speaking of propaganda.  I hear that she has a role in the new wall st movie.

Talk about mixing reality with make believe.  Or should I say, make believe with reality?

Thu, 09/23/2010 - 08:16 | 599439 eigenvalue
eigenvalue's picture

OMG, my silver is down by 1%!! What a tragedy! :-(

Thu, 09/23/2010 - 08:46 | 599482 EscapeKey
EscapeKey's picture

Gold just bounced off 1288, and is now up to 1293. The manipulation... it isn't working as well as it used to!

Thu, 09/23/2010 - 08:24 | 599459 jbc77
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This is great news. I put on a levered short postion on the EX pre-market yesterday. If I can just get some shitty housing data on the U.S for August I'll be cooking with gas. Scares me a little though because ZH readers know all too well these numers coming out are ALWAYS on the rosy side and thats being kind.

Thu, 09/23/2010 - 08:32 | 599470 Tense INDIAN
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should i say a spread of 1000 bps is when we hear "Ireland has DEFAULTED on its DEBT"

Thu, 09/23/2010 - 08:36 | 599477 lizzy36
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But the Spanish Prime Minister declared the crisis over yesterday.

And as we all all know, according to Bernanke in 2006, Sub Prime was contained.

 

Thu, 09/23/2010 - 08:37 | 599478 Lord Peter Pipsqueak
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This gentlemen is a prime example of what the Irish government is throwing billions of Euros of taxpayers money at, to prevent it from falling to a reasonable price,at todays rates 725,000 euros is $544,000.That's right 1,400 sq ft for $544,000.That's $390 per sq ft.

http://www.myhome.ie/residential/brochure/26-gledswood-avenue-clonskeagh-duboln-14/126450

Thu, 09/23/2010 - 08:47 | 599493 EscapeKey
EscapeKey's picture

That's insane. I have a friend who goes to horse racing in Ireland, who says attendance is down sharply, and the entire city has a depression-feel to it.

To then see the pricing of this house astonishes me.

Thu, 09/23/2010 - 09:56 | 599640 Yorick7
Yorick7's picture

It's far worse than that, €725k is actually $966k.  Thats your million dollar home dude.  Wanna buy any Euros?

Thu, 09/23/2010 - 08:40 | 599481 Prof Quagmire
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  Ireland has secret weapons: the Blarney Stone and Jameson's.  Sounds like the pm is already trying them out.

Thu, 09/23/2010 - 11:08 | 599858 HarryWanger
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Don't forget Guinness!

Thu, 09/23/2010 - 08:40 | 599483 gwar5
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In spite of everything he's put them through God still loves the Irish, he just loses track of them sometimes because they blend in with the angels.

 

 

 

Thu, 09/23/2010 - 09:04 | 599518 virgilcaine
virgilcaine's picture

TD excellent work but calling the "Irish Pm a drunk" was uncalled for.. would  Mr Obama ever be called such ? as He enjoys his beer.

Mr Cowen is not the sharpest fellow but I had to express my displeasure in the choice of words.

 

These are tactics the Elitist's and MSM use. 

Thu, 09/23/2010 - 09:18 | 599545 Bill Lumbergh
Bill Lumbergh's picture

I think that refers to where he might have had a bit much to drink the night before an interview:

http://www.huffingtonpost.com/niall-odowd/irish-prime-minister-was_b_717682.html

Thu, 09/23/2010 - 09:38 | 599591 scratch_and_sniff
scratch_and_sniff's picture

No, he's not a drunk, he was born like that.

Thu, 09/23/2010 - 09:53 | 599631 Lucky Guesst
Lucky Guesst's picture

I'll do the honors. Obama is a drunk liar. He is also a drunk cheat and a drunk thief! Most devastating to our Country is the fact that he is a drunk idiot! In fact, he would do less harm if he would just get drunk and STFU!

Thu, 09/23/2010 - 09:25 | 599565 Josephine29
Josephine29's picture

On the question of the Irish PM being somewhat the worse for wear even the Financial Times is getting in on the act of referring to his radio interview as it talks of recent economic news having a sobering effect...

On the way things are getting out of hand for Ireland I saw this last week on notayesmanseconomics. and it is looking rather prescient to me.

"As Ireland has strengths that Greece did not have for example she ran a much better fiscal policy before the credit crunch and took more decisive initial steps to respond she in my view could add to those strengths by again acting decisively and calling in the EU/IMF to help her."

http://notayesmanseconomics.wordpress.com

Thu, 09/23/2010 - 09:27 | 599570 virgilcaine
virgilcaine's picture

A way to soften them up for Austerity.. Was it fair to call Ms Merkel a "Nazi in a Pantsuit"?  Mr. Blair a  "Book Writing War Profiteer"?  All are fair game I presume.

Thu, 09/23/2010 - 09:51 | 599628 Macker
Macker's picture

While the irony that all the Irish banks are being bailed out is not lost on me, please distinguish between Allied Irish Banks (known as AIB), which is still in private hands to an extent, and Anglo Irish Bank (not known as AIB) which is an absolute basket case and has been nationalised. This is the bank costing 25-35 billion.

Thu, 09/23/2010 - 12:39 | 600086 Lord Peter Pipsqueak
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Another gem of an article regarding the Squid's dual role of advising the NTMA(the Irish govt's treasury agency) on the purchase of Quinn Group by Anglo Irish bank(which the Irish govt has bought and is honouring its debts) and at the same time buying bonds in the same Quinn Group "for its clients".

Quinn owes Anglo 2.7 billion euros and Anglo thinks it has a better chance of recouping more of the debt if it buys Quinn outright,regarding the obvious conflict of interest in such a deal a Squid spokesperson said:

""All investment banks have Chinese walls in place to avoid and manage potential conflicts of interest [in general]," she added. "We are highly confident of the effectiveness of our Chinese walls."

Nothing to worry about there then.

http://www.independent.ie/business/world/goldman-plays-dual-role-with-quinn-group-2349547.html

 

 

 

 

 

 

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