Nov 02

water_dublin

- ‘Unprecedented mobilization’: Hundred-thousand rise against Irish water tax (Common Dreams, Nov 1, 2014):

Over 100 demonstrations held across Ireland protesting austerity scheme to tax, privatize water supply

Update 2:20 EST:

Protest organizers Right 2 Water estimate that over 150,000 people came out to protest the water charge scheme. In a statement released Saturday afternoon, they wrote: “Despite torrential rain, our expectations have been massively exceeded, with well over 150,000 people coming out in every neighbourhood, town and village to send a clear message to the Government: water is a human right, and we demand the abolition of domestic water charges.”

Earlier: Continue reading »

Tags: , , , , , ,

Sep 29

- Revealed – the Troika threats to bankrupt Ireland (The Irish Independent, Sep 28, 2014):

Honohan: ECB officials agreed to threaten Ireland with bankruptcy if the government tried to burn bondholders

The threat was made at a high-level teleconference meeting, details of which have been revealed for the first time by the Central Bank governor, Dr Patrick Honohan.

Mr Honohan, who famously told the nation Ireland would be entering the Troika bailout programme live on radio as government ministers were publicly denying it, also revealed he was kept out of loop about the meeting. Continue reading »

Tags: , , , , , , , , ,

Aug 20

- Wall Street banks ‘may desert UK for Ireland’ if Britain leaves EU (RT, Aug 19, 2014):

Wall Street banks could abandon Britain for the Republic of Ireland if the UK decides to leave the EU, senior figures in the industry have reportedly said. This is despite a Forbes report that names London the world’s ‘most influential city’.

Changes to EU banking rules could see London stripped of its financial preeminence. Some major institutions including Bank of America, Citigroup and Morgan Stanley are believed to be drawing up plans to desert the City amid concerns the UK is drifting further from the EU.

This is despite a Forbes list of “The World’s Most Influential Cities 2014″ which ranked London as the most influential city in the world, because it attracts more than double the amount of foreign direct investment deals than New York, which came in second. Continue reading »

Tags: , , , , , , ,

Jun 09

- Rathlin Island family plan to export Irish seaweed to Japan (Sunday World, June 8, 2014):

A small island off the north coast has emerged as an unlikely potential supplier of edible seaweed to Japan – a country whose own stocks have been hit by the Fukushima nuclear disaster.

Tags: , , , , ,

Nov 29

- Europe’s Peak Youth Unemployment Gets Peak-er (ZeroHedge, Nov 29, 2013):

Despite a ratings ‘upgrade’ Spain’s youth unemployment rate has re-surged to a record 57.4% (just below that of Greece which still tops the scary chart list at 58%). Italy and Portugal also saw notable rises (despite the former’s record low short-dated bond yields) at 41.2% and 36.5% respectively. Ireland and France saw modest improvements but overall the Euro-zone’s youth unemployment just keeps rising. In spite of all the rhetoric from Merkel, Van Rompuy, and Barroso, 24.4% of Europe’s under-25 population is unemployed

Tags: , , , , , , , , , , , ,

Aug 30

- 1,000 Irish people emigrate a week (Irish Examiner, Aug 30, 2013):

Almost 1,000 Irish people left Ireland each week last year to find work abroad — the highest figure since the recession began in 2008.

According to the latest CSO figures, 50,900 Irish people emigrated in the 12 months to April. Overall, 89,000 people left the country in this period — an increase of 2.2% on the 87,100 in 2012.

The exodus has primarily affected young people, with more than 40,000 of those leaving the country under the age of 24. Around the same number were aged between 25 and 44.

Almost a quarter (21,900) of all people leaving the country went to Britain, while 17.3% (15,400) went to Australia.

Continue reading »

Tags: , , , ,

Jul 22

- Euro Area Government Debt Rises To New Record High (ZeroHedge, July 22, 2013):

While the European economy may be moving in a straight line from upper left to lower right, the same can not be said for the level of debt in Europe, which has taken on the inverse trajectory. As per the just released quarterly update of Euro area government debt, in Q1 2013, total government debt in Europe as a % of GDP just hit a new all time high of 92.2%. This compares to 90.6% in the previous quarter, and up from 88.2% in Q1 2012.

The proud Q1 debt-to-GDP outliers, where the local economies are expected to continue plunging and thus send the stock markets (if mostly that in the US) surging, are the following: Continue reading »

Tags: , , , , , , , , , , , , , , , , ,

Jun 25

And rightfully so.

Traitor Bush was beyond horrible, Obama is even worse.



YouTube Added. 21.06.2013

Flashback:

- LIAR Obama Promised To Label GMO Food In 2007 (Video)

- More Obama Lies: Obama on Why He Opposed Individual Mandate: Forcing Uninsured to Buy Insurance Is Like Forcing Homeless to Buy Homes

- Elite Puppet President Obama Exposed

- MSNBC Exposes President Obama’s lies: FED GAVE Banks Access to 23.7 TRILLION DOLLARS NOT $700 Billion!

- Barack Obama Lies 7 Times In Under 2 Minutes!!!!! (Video)

- EXPOSED: Barack Obama, Rahm Emanuel and the Chicago Political Syndicate – Total Corruption (Video)

Liar in Chief  (Barack Obama Campaign Promise – October 27, 2007):

- Obama: ‘I will promise you this, that if we have not gotten our troops out by the time I am President, it is the first thing I will do. I will get our troops home. We will bring an end to this war. You can take that to the bank.’ (Video)

I ask you how many of our soldiers and how many civilians have died because of this lie?

Tags: , , , , , , , , , , , , , , , , ,

Jun 24

- Anglo-Irish Picked Bailout Number “Out Of My Arse” To Force Shared Taxpayer Sacrifice (ZeroHedge, June 24, 2013):

The Irish people, who sacrificed their sovereignty and billions of Euros, are waking this morning to a stunning revelation that the bailout to save Anglo-Irish was engineered by the Bank’s leadership to game as much money as possible from the central bank. The Irish Independent has secret recordings from the period in 2008 – below – that show senior management luring the State into giving it billions as they admit the EUR 7 billion number was “picked out of my arse.”

The bottom-line is that the bank knew they were in trouble and so decided to game the Central Bank and their regulators knowing that once the State began the flow of money, it would be unable to stop: “If they (Central Bank) saw the enormity of it up front, they might decide they have a choice. You know what I mean? They might say the cost to the taxpayer is too high . . . if it doesn’t look too big at the outset… if it looks big, big enough to be important, but not too big that it kind of spoils everything, then, then I think you have a chance. So I think it can creep up… [once] they have skin in the game.” Will there be an Irish Spring as the conspiracy theory of the banking bailout now become conspiracy fact?


YouTube

Via The Irish Independent,

Taped telephone recordings (from the bank’s own systems) from inside doomed Anglo Irish Bank reveal for the first time how the bank’s top executives lied to the Government about the true extent of losses at the institution.

Anglo itself was within days of complete meltdown – and in the years ahead would eat up €30bn of taxpayer money. Mr Bowe speaks about how the State had been asked for €7bn to bail out Anglo – but Anglo’s negotiators knew all along this was not enough to save the bank.

The plan was that once the State began the flow of money, it would be unable to stop.

Mr Bowe is asked by Mr Fitzgerald how they had come up with the figure of €7bn. He laughs as he is taped saying: “Just, as Drummer (then-CEO David Drumm) would say, ‘picked it out of my arse’.”

Continue reading »

Tags: , , , , , , , , ,

Jun 12

- Europe’s EUR500 Billion Quasi-Quantitative Easing (ZeroHedge, June 12, 2013):

Submitted by Mark J. Grant, author of Out of the Box, Five Eurozone countries now have loans for half a trillion Euros.

These members of the Euro currency union are receiving loans from the one of two bailout funds which are financed by the other 12 Eurozone members. On top of that are the emergency loans from the International Monetary fund (IMF) and bilateral loans from the solvent countries to the bankrupt nations. Continue reading »

Tags: , , , , , , , , , , , , , ,

May 06

- Bank Of Ireland Doubles Mortgage Rates, Homeowners Fear More To Come (ZeroHedge, May 2, 2013):

With the Bank of England cutting its wholesale interest (bank) rate to historic lows and now the ECB slashing 50bps off its key rate (as well as remonstrating on the reduction in fragmentation across European nations), it is perhaps perplexing (or simply too obvious) that a bank would raise its mortgage rates. As the Daily Mail reports, government-owned Bank of Ireland (BOI) doubled mortgage rates for 13,500 customers in the UK leaving homeowners with huge increases in their monthly payments. The bank, exploiting small print in the legacy mortgage contracts, will hike the interest cost for 1-in-14 homeowners from 2.25% to 4.99% (raising the spread over the bank rate on these loans from 1.75% to 4.49%). Anger is rife as customers complain “it’s all very frustrating,” adding that they thought this was a ‘tracker’ mortgage but BOI defends their massive rate hike on increased funding costs and the need to maintain higher levels of capital. The disconnect between wholesale gorging provided by the Central Bank and wholesale gouging of the real economy grows ever wider it seems.

Via The Daily Mail,

Thousands of homeowners are facing a huge increase in their mortgage repayments after the Bank of Ireland doubled rates overnight.

will affect some 13,500 UK customers,

Continue reading »

Tags: , , , , , , , , , ,

May 05


YouTube Added: 03.05.2013

Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Apr 27

- Europe’s Fauxterity In Three Simple Charts (ZeroHedge, April 27, 2013)

Tags: , , , , , , , ,

Apr 12

- I Illustrate How The Irish Banking Cancer Spreads To The UK Taxpayer And Metastasizes Through US Markets! (ZeroHedge, April 12, 2013)

Tags: , , , , , , , , , , , , ,

Apr 12

- Carmen Reinhart: “No Doubt. Our Pensions Are Screwed.” (ZeroHedge, April 11, 2013):

“The crisis isn’t over yet,” warns Carmen Reinhart, “not in the US and not in Europe.” Known for her deep understanding that ‘it’s never different this time’, the Harvard economist drops the truth grenade a number of times in this excellent Der Spiegel interview. Sweeping away the sound and fury of a self-serving Federal Reserve or BoJ, she chides, “no central bank will admit it is keeping rates low to help governments out of their debt crises. But in fact they are bending over backwards to help governments to finance their deficits,” and guess what, “this is nothing new in history.”

After World War II, all countries that had a big debt overhang relied on financial repression to avoid an explicit default. After the war, governments imposed interest rate ceilings for government bonds; but, nowadays, she explains, “monetary policy is doing the job. And with high unemployment and low inflation that doesn’t even look suspicious. Only when inflation picks up, which is ultimately going to happen, will it become obvious that central banks have become subservient to governments.”

Nations “seldom just grow themselves out of debt,” as so many believe is possible, “you need a combination of austerity, so that you don’t add further to the pile of debt, and higher inflation, which is effectively a subtle form of taxation,” with the consequence that people are going to lose their savings. Reinhart succinctly summarizes, “no doubt, our pensions are screwed.”

This will take 3 minutes to read – read it. Understand what she is saying. Continue reading »

Tags: , , , , , , , , , , , , , , , , ,

Apr 07

- Ireland, You May Very Well Be Bust & I Make No Apologies For What I’m About To Show You (ZeroHedge, April 7, 2013)

Tags: , , , , , , , , , ,

Mar 30

- Betray Your Bank Before Your Bank Betrays You (Bloomberg, March 28, 2013):

What’s a Slovenian with several hundred thousand euros in the bank supposed to do? Spread it out among at least a few different banks, that’s what. Or move the money out of the country, while it’s still possible.

Imagine what must be on the minds of any savvy depositors still left at Nova Kreditna Banka Maribor d.d., now 79 percent- owned by Slovenia’s government. It was one of only four lenders in October that failed the European Banking Authority’s latest capital-adequacy test, a ritual best known for how lax its standards are. One that flunked was Bank of Cyprus Pcl, where uninsured depositors face 40 percent losses as part of the country’s bailout terms. Another was Cyprus Popular Bank Pcl, also known as Laiki Bank, where uninsured deposits will fare far worse and the bank is being shut.

Cypriot banks’ customers were complacent after uninsured deposits went unscathed in Ireland, Greece, Spain and Portugal, the first euro-area countries to seek international rescues. Slovenians won’t have that excuse should their country be next.

Continue reading »

Tags: , , , , , , , , , , , , ,

Mar 16

- For Everyone Shocked By What Just Happened… And Why This Is Just The Beginning (Zerohedge, March 16, 2013)

Tags: , , , , , , , , , , , , , , , , ,

Mar 16

- After Cyprus, Who Is Next? (Zerohedge, March 16, 2013)

Tags: , , , , , , , , , , , , , , , , , ,

Feb 10

- “China Accounts For Nearly Half Of World’s New Money Supply” (ZeroHedge, Feb 8, 2013):

When it comes to the creation of money in China, and specifically the asset side of the ledger, or loans, there is much more confusion than consensus, primarily because nobody knows who it is that is creating the money: private or public entities, SOEs, the PBOC, regional banks, shadow banks, or your next door neighbor.Another thing that is largely misreported: what the actual assets pledged as collateral to new loans are. Because while it is well-known that corporate debt in China is now greater as a percentage of GDP than in any other country, the comprehensive picture is still confusing (albeit GMO did a fantastic summary recently of what is known) as reporting standards are still non-existent, and the government flat out lies about its balance sheet.

Yet one very simple shortcut to get a sense of what is truly happening in monetary China is to peek at the liability side of the consolidated balance sheet, and one line in particular, namely deposits. Because unlike in the US, where the vibrant equity Ponzi scheme has rarely been stronger, in China it is still all about the cash and as a result the bulk of the newly created money once again return back to the banking sector in the form of a deposit. Ironically, that is what banking should be about (instead of the entire industry being a glorified hedge fund) although in China even this practice has gone on way too far, and like in Europe, has long passed the point where there is real collateral value backing up the new money created (which explains the emergence of various letters of credit collateralized by copper still not dug out of the ground which reappear every time Chinese inflation spikes above 5%).

So how do deposits look when comparing the US and China? Well, after having less than half the total US deposits back in 2005, China has pumped enough cash into the economy using various public and private conduits to make even Ben Bernanke blush: between January 2005 and January 2013, Chinese bank deposits have soared by a whopping $11 trillion, rising from $4 trillion to $15 trillion! We have no idea what the real Chinese GDP number is but this expansion alone is anywhere between 200 and 300% of the real GDP as it stands now. Continue reading »

Tags: , , , , , , , , , , , , , , , , , , , , , ,