The banksters, not content with looting and destroying Cyprus are now intent on pillaging bank deposits of the innocent in other nations too, like Ireland.
Kiss Those Euros Goodbye as of today, all of the puzzle pieces for an Irish government cum ECB via Germany confiscation of Irish bank depositor money is in place
Could this happen in the US? Possibly. However, there are 300 million guns in the United States. Were we to wake up one morning and find the banksters had stolen our bank deposits, I’m guessing more than a few of those guns would start being used by cranky, maladjusted, paranoid conspiracists refusing to take it up the ass from the banksters. Just saying…
Who are the global warming deniers? Greece financial crisis. Irish are 10 billion euros in the red due to fall in tax revenue, now want to be sharia-compliant financial center of Europe (you read that right.) Syria barbarity. Western-backed barbarity in Libya, Ivory Coast. Murder of Syed Shahzad, Asia Times journo, in Pakistan.
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With Steve Hynd of Newshoggers, Josh Mull (@joshmull) and myself.
Greece may default, Ireland can’t sell more debt, Spain may fess up to hiding debt. Norway has frozen loans to Greece. Protests against banks are spreading.
The banksters may no longer be able to force countries to pay for bonds that banks knew were dicey and never should have bought in the first place. Instead, bondholders may (and should) be forced to take writedowns on their “investments” whether they like it or not. Insolvent banks must fail rather than forcing people in debtor nations like Greece, Ireland, and Spain to prop up their rotting, corrupt corpses.
It seems the banksters believe in harsh capitalism for everyone but themselves. Hey, bonds can be risky and writedowns are always a risk. Insolvent entities should fail. That’s what capitalism is about, right?
But not for the banksters. They want everyone else to bail them out, always and continually. But their game may be ending soon.
In the wake of the collapse of the Irish government, finance minister Brian Lenihan suspended capital injections for Allied Irish Bank, the Bank of Ireland, and EBS Building society until elections are held on February 25.
Fine Gael leader Enda Kenny said Anglo Irish Bank will not get another cent if his party is elected. However, the Chairman of Anglo Irish Bank said Anglo needs another â‚¬15bn.
Screw the bankers and the bondholders. The people of Ireland should not have to pay for the greed of their bankster class. Iceland defaulted on their debt a while back, let their banks fails, and have started criminal proceedings against some of the greedhead bankers who created the mess. Their economy is now recovering.
Now it appears Ireland will do the same, as should the United States.
Bloomberg states the obvious
Unlike other nations, including the U.S. and Ireland, which injected billions of dollars of capital into their financial institutions to keep them afloat, Iceland placed its biggest lenders in receivership. It chose not to protect creditors of the country’s banks, whose assets had ballooned to $209 billion, 11 times gross domestic product.
“Iceland did the right thing by making sure its payment systems continued to function while creditors, not the taxpayers, shouldered the losses of banks,” says Nobel laureate Joseph Stiglitz, an economics professor at Columbia University in New York. “Ireland’s done all the wrong things, on the other hand. That’s probably the worst model.”
Ireland along with the US, that is. Obama has cheerfully shoveled hundreds of billions of taxpayer money to the big banks and changed accounting rules so they could price their garbage assets at whatever they wanted. What do we have to show for this? The recession is still here. Unemployment and foreclosures are much too high. And those banks are still insolvent.
Meanwhile, Iceland, who put the interests of their citizens and country before those of the banksters and bondholders, is recovering. This country should do the same.
TheTrudgnCurmudgn in L.A. puts a face on it.
Was watching the news recently and saw something that really bummed me out. They where doing a story about all the people that went to the sports arena because they where loosing their homes and where looking for relief in the form of a re-finance. Suddenly, there on the screen was a good friend of mine. They chose him at random to be interviewed. I watched in horror as he told his story. Here was a guy who is a damn good musician and a hard worker and he’s about to lose his house.
Maybe by now you’re saying, “Old news. We see that all the time now a-days”. And, you’d be right”¦. except this was a friend of mine and that made it personal.
Connect the dots. Bailing out the banksters leads directly to more people losing their homes.