Economy Rigging 1

IRELAND IMF PACT, DAY VIII ~ SALVATION OF THE EURO CURRENCY PROJECT OR SOMETHING ELSE AFOOT IN THE CORRIDORS OF POWER? November 29, 2010

Filed under: Uncategorized — bashstreetkidjailbreak @ 3:55 pm

WILLS COMMENTS :

I urge everyone to look at this blog post at this link. It appears to reveal the hidden facts on the Ireland banking debacle and the Germans involvement, go too now : Golem XIV – Thoughts: Who bankrupted Ireland?

So the sequencing of the Irish IMF bailout has all the hallmarks of a race to save Ireland and its banks and its economy or, a race to save the Euro currency project or a race to stop a banking meltdown in Germany triggered from the outside which would end in the Euro going up in a puff of smoke.

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Look here at this interesting USA take on Europe and Ireland and Germanys woes : Europe’s Debt Domino Effect – CNBC.com

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I’m putting up this fascinating blog comment in it the poster pins down this idea that its the salvation of the euro underway.

By Anon..’What happened last night in my view was that the EURO was bailed out. There is in fact a war going on to save the euro and if you think there will be no human casualties then you are wrong because I can assure you some pensioners will not survive this winter post pension cuts who may survive without them. The battle line and front at the moment is here in Ireland. Tomorrow the battle may be in Portugal, Spain Belgium or wherever. So we have to survive all of this.

Ireland for the last number of years is like a junkie hooked on cocaine. We now have to come off it and get the fiscal problem sorted whereby tax revenues match spending rather than living on cheap credit. We have been given a line of credit to achieve this goal. When we achieve this we can then say to the banks in Europe that the debt which we all know is not repayable (truthful commentators like Constantin et al have made it clear to us) that they can torch the senior bondholders AT THAT STAGE.

For those of you who are unable to decipher what the market is saying my view is that the markets are telling us that the EURO is not a workable currency for peripheral states. The markets will prevail in the end as they always do no matter what artillery or ammunition the authorities throw at it. The European authorities may well have won this battle to save the Euro but sooner or later they will lose the last battle which I feel will be fought in Spain and in any war the only battle which counts to win the war is the last battle.

So Constantin keep up the good work for telling the truth. The debts are too big to pay back but we Irish will let the European banks know this when it suits us to tell them which will be when we have closed the structural deficit in our fiscal position to the place where we are earning our way again.

How do I know this? You told us so. Our politicians can tell the Europeans at the right time that we don’t need the euro because multinational exporters don’t rely on the Irish financial system and when the domestic economy achieve equilibrium with tax revenues and spending we won’t need to borrow from European banks either.

Sometimes David it is in the best interests of our country for our politicians to lie through their teeth to their colleagues in Europe.’

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Anon II ..

I feel that it is in actual fact of no importance whosoever is in charge insiders, outsiders, Lenihan, McWilliams, Constantin or anyone else when the time comes to burn the bondholders in three years time or so. A bust financial system is a bust financial system. The mathematics will be so overwhelmingly stacked against Ireland there simply wouldn’t be enough paper in the world to print to inflate away the losses and save the Euro.

This isn’t going to stop at 130bn or 230bn or 330bn this will roll on and on and on until the European governments realise that the renegade German bankers, sociopaths in my view, who have taken advantage of nonexistent regulation in Ireland have totally and utterly fucked the European Financial system.

The German authorities have some cheek if they think that an ill suited toxic containment vessel like the IFSC in Ireland with the “safety valve” of Irish regulation whatever the fuck that is, is responsible for the financial Armageddon unleashed on Europe by THEIR Bankers.

And why is that? because only the German banks had the financial firepower to unleash through such a shoddy containment weld as the financial regulation/restraint mechanisms of Ireland, the unimaginable financial Armageddon now being unleashed on the citizens of Europe.

I have never been more convinced that when I voted no twice to Lisbon that I did the right thing for my country, the country I love, because what we witnessed the other night was the shafting of the citizenry of Eire by the high priests of the Euro for the politically expedient reasons of saving the Euro from what renegade German bankers have done to Europe’s financial system and currency.

As if we the Irish of ALL people didn’t have direct experience handed down from generation to generation of what huge empires do to small countries like ours when it suits them for politically expedient reasons. In case anyone reading this post needs an explanation come here to the west of Ireland and observe the mass graves of famine victims which bear silent witness to gentleman’s genocide or visit your descendants in the US and elsewhere the legacy of 25% of our population being “dealt with” when converting the failed landlord tenant system to more profitable agricultural use.

You asked the question Wills who is in charge? The answer to that is the same answer you would get if you asked a roman soldier in the time of Jesus or a descendant of yours in the year 4010.

THE MARKET IS IN CHARGE. IT ALWAYS HAS BEEN.

Anon III

No the market is not in charge far from it.

The core capital controls the market. Never forget that. One of the reason JC threw them out of the temple. It was not the act of money lending but the usury. That was an act against fellow man to enslave him.

Rockerfeller worked that the enslavement value of money after toiling hard in a field for a few days when he promised himself never to be enslaved by money but make money his slave. So Rockerfeller put his own interest first and JC had put the interests of others before himself. Forgive the ramblings and I am not a religious nut its just that I have this thing for ‘fractional reserve banking’.

So you put some money into the system next you encourage its take up then you improve its availability by delivering credit and every thing is going fine. The ease of access becomes ever so convenient in fact its availability outweighs the reality of paying it back.

Now the system goes into over drive and many of the participants in the so called free market begin to take bigger risks to gain more to be better than the others and gain more favour in the system securing greater access to the money funding.

Some realise that in order to retain your achieved state you need to run faster as if you do not others will grow greater and your access to the system may diminish and your value in realtion to the system lessens.

Now the game enters a new level and Mr Sharp Practice arrives at your door and service in a suit with a briefcase full of technical tools wrapped in amoral packaging and you learn to run faster. Hey man look at them go and now the herd instinct takes over and the behaviour of the market takes to a frenzy level. And one day the music stops and everybody has to position themselves on their chair of endeavors and the only way they can is if they can prove title to the chair. The only way to provie title is via the balance sheet expressing your ‘true net worth’ that is you have the money they created and that which you clawed from the system. At this point your credit worthiness is of no tangible benefit nor are the overvaluations that you may try to retain in your asset books.

The thing is there are never enough chairs to go around. If you are not in the inner circle you can never know this. If you are in the inner circle you are always aware of this fact that the amount of money in the system always falls well short of the debt that was permitted to be created by the core capital who controls the market. The only way you can peer into this little secret is look at the rules of capacity utilisation.

Anyway I had a look at Mr Malone’s author of Debt Generation. I admire him he is one smart guy. As for Hypo Bank and Defra they got badly stung by a Teachers union in the US who were sold a pup in subprimes which ended up on the Germans laps courtesy of an Irish Bank. And yes there was and still is a lot of illegal behaviour in the banks and IFSC encourages such and regulators are as useless as a sheriff without guns and even if he did get a gun I doubt if they would permit him have any bullets because at the end of the day he is one of them.

All the participants know the music is about to stop and they are all trying to get rid of their debt and so far they got 55bn out of Ireland and intend getting as much of the 65bn plus the 17bn from the pension fund already in the bag. This contagion crap is only a smoke screen. And the greatest lie of all is the too big to fail one and a clear indicator is Japan.

Anon IV

The Market is always in charge. If you have the capacity to create something of value and trade it for some other thing of value you will create your own market. You don’t need cash.

We as a nation can get around this problem of toxic international finance by reintroducing our own currency even without the permission of our government as free citizens if we so choose.

McWilliams did it when he introduced the marble as a viable currency in Kilkenny during the recent festival. I have failed miserably to try and get the members of this board to start trading in electronic gold but at least I tried.

We should back any new currency with a defacto gold standard to make sure it couldn’t be devalued by printing more of the stuff.

As regards Usury all major religions are against it as far as I know but Usury itself is not the problem. Canada’s banks haven’t failed even though they have usury in their system.

The all perverse and pervase greed of the sociopaths in control of the world’s financial system is where the problem is.

Anon V

No the market is never in complete charge therefore it is not in charge. The core capital permits a certain amount of latitude that is gives it a little free will especially regards pushing credit into the system.

Gold is not the answer. It still enables manipulation and control of the market by the core capital holders. It plays even more into the hands of the core capital holders.

Yes Canada’s banking system seems to have achieved the right balance. Can they keep out the corruptness?

Anon VI

If you are prepared to barter goods and services with me for my goods and services then there is no need for capital at all. Core capital or not we can’t be controlled or manipulated so long as we control the land we stand on. The market will decide however what he value of your goods versus mine is.

I come from a small farm in the west of Ireland and posses the skills to provide a living for myself from the land without even the need trade with anyone else if I so choose.

So long as people can add value to something and are prepared to barter it with their neighbours then we will always be in control irrespective of what those who control Fiat money decide to do with it.


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