The National Treasury Management Agency, which borrows money on behalf of the State, has sold €600m of Treasury Bills this morning.
The yields, or the cost of borrowing the money, fell compared with an auction two weeks ago when more debt was offered.
Treasury Bills, or T-Bills, are a way of securing short-term funding, and they must usually be re-paid within months rather than years. The NTMA sold €400m of T-Bills maturing next April and €200m maturing in February.
The offer was oversubscribed six times, indicating strong demand, and so on
but is this the real story or well aired spin?
The question is who the hell is buying these bonds this debt from a bankrupt country???
The ECB !
Who controls the ECB?
Why the very bondholders we owe the money to in the first place! The German Big Banks of course
Now why would they do that?
They are buying these bonds in order to give the impression that there is a market for Irish Government Bonds when there is no market for these worthless promissory notes
We are broke full stop. They have given away all our money and we cannot earn enough to pay off our nation debts and the commitments they have entered into with the bank guarantees which comes to about 650,000,000,000:00 Billon Euros
We simply don’t have enough earnings capacity (currently 34 billion in total tax revenues) but as long as we have a capacity to just pay the interest they are happy to just keep us stringing along
Like a drug dealer strings along a junkie with a little free be every now and then.
Or like a money lender in the poor city areas they are happy to keep giving to the poor as long as they meet their interest payments
If there were no bidders they would be in serious trouble because the spreads in government long-term debts would soar, and they would lose everything and Irish government would have to default on its debts
Like them, money lenders would be out of business if everybody pays off their debts and that is not what they want
In a nutshell there are trying to manipulate the Government debt by giving the illusion that there is a healthy demand for these bonds when there is not and hopefully sell it on to some other smuck down the road in the form of new nicely packaged debt with a rating of AAA
Now what do you call a system that tries to sell worthless assets, that sells you a lie?
Another example of this fraud is the Pump and dump system in cheap stocks
It works like this
Your respectable brokerage calls you up and tells you that a certain stock is undervalued and you should buy it straight away because others will find out soon and you will lose your opportunity to make a killing on the stock’s price rise
Now you decide that you will take up some of this stock and you buy 1000 shares
a few days later the price goes up you buy 5000 shares and the stock price goes 30 % you now buy 20,000 shares and the stock price goes up again you are now up 120% so now you want to sell your stock suddenly the stock price collapse through the floor and the quote price is now showing a loss to you
So what happened? Well you turned out to be the only one buying into the market and as long as you were buying you knew no better and the price was going up
But now you want to sell to someone else only there is no other person that wants to buy your worthless stock so you call a broker and he offers to sell them for you and the spin swindle starts all over again
by the way 10 year Irish bonds have gone up to 5.69%, up 0.008, why is that??
the government spin is still not working