Infinite Unknown

(No such thing as man made global warming Max.)

YouTube Added: 09.08.2012

Description:

France, back in a recession for the 2nd time in 3 years. Italy’s economy contracting point seven percent in the last quarter: And for the powerhouse, Germany: its Industrial, construction and manufacturing all slumped for June: The euro- zone debt crisis continues to threaten the survival of the 17-nation currency bloc, affecting non-Eurozone members, like the UK, where the Bank of England said it did not expect the UK to grow out of a recession. But the more alarming picture: the lack of growth, whether its for each country, developing countries, or the global economy as a whole.

Tags: Anglo Irish Bank, Banking, Bonds, Debt, Economy, EU, Europe, France, GDP, Germany, Global News, Government, Greece, Ireland, Italy, Paul Craig Roberts, Politics, Sean O´Grady, Society, Spain

- Anglo Irish Bank’s ex-CEO arrested for fraud (USA Today, July 24, 2012):

DUBLIN – Fraud detectives arrested the former chief executive of Anglo Irish Bank and charged him Tuesday over a conspiracy to hide colossal losses at the bank that brought the nation to the brink of bankruptcy.

Tags: Anglo Irish Bank, Banking, Crime, Economy, Fraud, Global News, Sean FitzPatrick

YouTube Added: 24.03.2012

Tags: 9/11, Anglo Irish Bank, Bailout, Banking, Barack Obama, Bonds, Bundesbank, Congress, Debt, Deutsche Bank, Economy, EU, Europe, Fed, Federal Reserve, Germany, Global News, Gold, Government, Insider Trading, Ireland, Military, Obama administration, Politics, Society, Stock Market, Terrorism, Terrorists, U.S., Wall Street, War

Commentary:

- Ireland’s Credit Rating Cut Five Levels By Moody’s With Negative Outlook

Ireland has been completely bankrupted and destroyed by the elite.

Nationalized Anglo Irish Bank losses are the worst in the entire world!

The elite puppet government and the elite puppet banksters have even stolen the pension reserve funds:

- And Now … Ireland: Pension Reserve Funds To Be Spent On The Banksters

Iceland didn’t bail out the banksters:

- Iceland: Economy Exits Recession

If Spain needs a bailout, it’s game over:

- Spain’s Credit Rating on Review by Moody’s

And this is the best place to be:

- Why is Greenland so rich these days? It said goodbye to the EU!

Complete list of bondholders inside, and BBC footage of Sir Eveylyn de Rothschild.  The deceased Guy de Rothschild, pictured, no longer exploits the masses for banking profit, but his progeny carry on his legacy effectively.

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Scroll down for VIDEO of Sir Evelyn de Rothschild…

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U.S. taxpayers finance approximately 20% of the IMF’s budget.

Guess what, Ireland.  Brian Lenihan and Brian Cowen just sold you down the IMF river.  Why?  To bail out bank bondholders and giant European banks.  Of course! That’s what governments are for these days, apparently.  And they’ll tell you that the bailout policy is all for you own good.   And for little old ladies and pensioners and orphans.  Just don’t tell that to the cancer patients.

Yep, another nation made IMF debt slaves on behalf of the international banking cartels.  And Goldman Sachs and Rothschild & Compagnie are on the list.

Check it out below — Guido Fawkes’ blog has acquired the list of Anglo-Irish Bank’s bondholders.

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From Guido Fawke…

Anglo-Irish Bank did not represent a systemic risk to the Irish economy, it wasn’t a high street bank like AIB or the Bank of Ireland. If it had been allowed to go the way of Lehmans the only losers would have been shareholders and bondholders. The Irish state stepped in and nationalised a bank that was basically run by crooks lending to property speculators.

• The Irish people are taking losses that should rightly have been shouldered by bondholders.

Every child in Ireland is being bequeathed a huge debt at birth to protect the interests of foreign, mainly German, bondholders – why?  Guido was once a bond trader, it was always understood that sometimes the bond issuer defaults.

• That is the risk investors take.

So why is Dublin’s political establishment so keen to protect foreign investors at the expense of future generations?  Guido has obtained the list of foreign Anglo-Irish bondholders as at the close of business tonight.  These are the people whom Dublin’s politicians really seem to care about:

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Great analysis of the list from the Golem XIV…

Continue reading »

Tags: Anglo Irish Bank, Bailout, Banking, Economy, Global News, Goldman Sachs, Government, Ireland, Politics, Rothschild, U.S.

Unbelievable!

Wake up Ireland and watch this:

- Jesse Ventura Conspiracy Theory: Wall Street

UP to €15 billion from the National Pensions Reserve Fund, set aside when the Celtic Tiger was still roaring, is likely to be used to recapitalise three of the country’s banks.

Amid speculation last night that the rate of interest to be charged on the EU/IMF bailout could be as much as 6.7%, Fine Gael’s finance spokesman Michael Noonan said that kind of rate was “far too high” and unaffordable on any reasonable projection of growth.

The Department of Finance said the interest rate had still not been finalised, but given that much of the loan would be repayable over nine years the rate could be higher than the 5.2% charged to Greece but would not be as high as the 6.7% being quoted by some brokers.

Meanwhile, Anglo Irish Bank, which was downgraded to junk status yesterday evening, is expected to be closed swiftly, together with the Irish Nationwide Building Society, under the EU/IMF loan plan.

Officials hope to finalise the details of the €85bn package later today and have EU finance ministers approve it tomorrow.

The emphasis in the plan is to avoid drawing down money from the bailout and rely in the first place on money from the Pension Reserve Fund for the banks, and on the €20bn the state borrowed earlier this year to part-fund next year’s national budget.

Economist at the Economic and Social Research Institute, John FitzGerald, said he believed it would be a good idea to use the money in the pensions fund to recapitalise the banks, and keep the EU/IMF funds in reserve in case they needed further money later.

Continue reading »

Tags: Anglo Irish Bank, Bailout, Banking, Economy, EU, Europe, Global News, Government, IMF, Ireland, Pension, Politics

50 billion euros is an awful lot of money for the Republic of Ireland.

Finance Minister Brian Lenihans is bankrupting Ireland, looting the people and is financing the elite banksters of the world that are 50 billion euros richer.

Never was robbing a bank more easy, risk-free  and lucrative.

The media is always telling the people about the losses and never about the elite criminals who made a fortune and are on the other side of those intentionally bad investments.

See also:

- Nationalised Anglo Irish Bank Posts €8.2 Billion Losses For Half Of 2010!

- Anglo Irish Bank losses are the worst in the entire world

- Ireland: Central Bank Hid Property Crash Forecast

“The Irish banking system is at rock bottom today,” Lenihan said today.

(30 Sept.) Bloomberg — Ireland is preparing to take majority control of Allied Irish Banks Plc and pump extra cash into Anglo Irish Bank Corp., raising the cost of repairing the financial system to as much as 50 billion euros ($68 billion).

“The Irish banking system is at rock bottom today,” Finance Minister Brian Lenihan said today in a Bloomberg Television interview in Dublin. He rejected speculation Ireland will need outside help. “It can only revive from now because it’s recapitalized and reformed,” he said.

Ireland’s deteriorating finances fueled investor concerns that it would become the first government after Greece to tap the 750 billion-euro rescue fund set up by the European Union and International Monetary fund to stanch the debt crisis. Irish bonds have plunged this month, sending the yield on 10-year securities to higher than any other euro nation except Greece.

The cost of bailing out the country’s banks may ultimately rise to about 50 billion euros, under a “stress case” scenario for Anglo Irish, according to figures published by the country’s finance ministry and the central bank in Dublin today. The base case estimate is about 45 billion euros, the figures show. Allied Irish may need as much as 3 billion euros.

Continue reading »

Tags: Allied Irish Banks, Anglo Irish Bank, Banking, Economy, Global News, Government, Ireland, Politics

See also:

- Moody’s Downgrades Ireland’s Credit Rating

- Anglo Irish Bank losses are the worst in the entire world

This is totally absurd!

Nationalised Anglo Irish Bank today posted losses of 8.2 billion euro (£6.7 billion) for half of 2010, claiming it was still battling through an exceptionally difficult period.

The state-run bank, which has been funded by 23 billion euro (£18.9 billion) of taxpayers’ money, said it expects further losses as more assets are shifted off the bank’s books.

“The new management of Anglo Irish Bank is working to significantly restructure the bank’s balance sheet, risk profile and culture in order to restore viability,” the bank said.

A breakdown of the six monthly returns showed it transferred 10 billion euro (£8.2 billion) of assets to Ireland’s so-called state controlled bad-bank, the National Asset Management Agency (Nama), set up to try to clean up troubled loan books of Irish lenders.

The bank said it suffered loan impairment charges of 4.8 billion euro (£3.9 billion) and a loss of 3.5 billion euro (£2.8 billion) over the transfer.

Anglo Management said it was grateful for the continuing support of Finance Minister Brian Lenihan.

Continue reading »

Tags: Anglo Irish Bank, Banking, Economy, Ireland, Taxpayers

See also:

- Anglo Irish Bank losses are the worst in the entire world

• Moody’s cuts Ireland’s sovereign bond rating by one notch

• Move will add to fears over Europe’s debt crisis

• IMF pulled €20bn finance deal for Hungary at the weekend

Moody’s cut Ireland’s credit rating this morning, citing weaker growth prospects and the cost of rebuilding the country’s crippled banking system (The Guardian)

Credit ratings agency Moody’s has downgraded Ireland’s debt rating, adding to investor jitters about the state of Europe’s heavily indebted economies.

The agency cut Ireland’s sovereign bond rating by one notch to Aa2 this morning, citing weaker growth prospects and the high cost of rebuilding the country’s crippled banking system. It added that the outlook was stable.

But the downgrade comes after the International Monetary Fund and the European Union pulled a €20bn (£17bn) financing deal for Hungary over the weekend. Talks broke down on Saturday after the European commission voiced concerns over the newly elected Hungarian government’s budget plans.

This means Hungary will not have access to remaining funds of €5.5bn in its €20bn credit line, agreed two years ago, until a review is completed. Hungary’s currency, the forint, plunged more than 2.5% against the euro on the news and bond yields surged by up to 30 basis points.

Ireland’s downgrade came ahead of a bond auction tomorrow. Continue reading »

Tags: Anglo Irish Bank, Bonds, Bundesbank, Debt, Economy, EU, Euro, Europe, GDP, Germany, Global News, Government, Hungary, IMF, Ireland, Moody's, Politics, Rating, Spain

Those were the good old days!

LOSSES posted by Anglo Irish Bank are the worst by any bank in the entire world, according to new data from a prestigious financial journal.

The taxpayer-owned bank’s loss in 2009 of €15bn was far bigger than those of giant US, Japanese and German banks, according to ‘The Banker’, an industry magazine listing the 25 biggest losses.

Anglo, which is hoping to split itself into a so-called ‘good’ and ‘bad’ bank, managed to lose almost more money than the two next biggest loss-makers put together, the magazine reveals.

Anglo, nationalised since January 2009, has already set a record with its 2009 loss — the largest ever posted by an Irish company.

Many experts believe such losses may never be recorded again in Irish business. And to cope with future losses, the Government is committed to pumping over €22bn into the bank.

Destruction

The scale of destruction wrought by the bank is clear when compared with other banks that reported smaller losses. For example, Royal Bank of Scotland, one of the largest banks in the world, lost only a quarter of what Anglo lost last year, the survey reveals.

US lender Citigroup, once the world’s largest bank, only lost half of what Anglo lost in 2009, despite taking a massive hit during the subprime crisis. Most of the 25 banks surveyed lost money because of the subprime crisis, whereas Anglo’s losses came from property lending. Continue reading »

Tags: Anglo Irish Bank, Bailout, Banking, Economy, Global News, Government, Ireland, Politics, Taxpayers