What is truth?

Archive for June, 2013

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This beautiful land 2

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Keiser Report: Debt Death Camps

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This beautiful land

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100 things Ireland could have got for the price of one Anglo Irish Bank…

Brian M. Lucey

With the #anglotapes this week it seemed to me a good time to recall those heady days of August 2010 when we had spent only 25b on Anglo. At that time Ronan Lyons and I penned this little piece in the Sunday Business Post…

This week, it was announced that the EU had approved a further injection of our taxpayer money into additional capital for Anglo-Irish Bank . This brings the total as of now to  almost €25bn. This is money going into a bank that is essentially in wind-down over the coming decade, money that the Irish citizens and taxpayers will not see again, as it is shoring up the balance sheet of a bank that had too much imaginary wealth. And that is not the end of the money, many fear.

So just how much is €25bn that we are having to borrow for Anglo? In one way…

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Trust

“Austerity and Evections will push people to open revolt”

By Thomas O Cléirigh

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The Banks have no legal or moral right to dictate to the Irish people, the Irish government have totally lost all credibility and are no longer the legitimate government of this republic.

We the people are slaves to no one, least of all to a bunch of “Gombeens” and the cheerleaders of corrupt bankers and their pals in Europe .We have now got to make a stand and if this means open revolt so be it! Throughout this crises we have taken everything that was thrown at us as we looked on and saw the gangsters who have brought this financial meltdown upon us be rewarded,and the attempt by the collaborators within the Irish government to keep the same old system in place by passing the blame for this catastrophe and the enormous costs on to the shoulders of the ordinary downtrodden citizen whilst the elite within the political system carry on sucking us dry as they feather their own nests whilst preaching the Austerity gospel according St Angela in Berlin.

Arise noble people of Ireland and take back our country from the corrupt financial vulchers and their henchmen who infest the Dail .

Yesterday at the GPO I bore witness to the testimony of an X cocaine addict, he told the assembled 250 demonstrators he was sentenced to 3 years jail for the theft of 400 Euros worth goods whilst under the influence of the drug from a well known retailer, he rightly asked why was he put into jail when bankers have stolen billions from the people of Ireland and they were rewarded with golden handshakes of   up to 600,000 euro pensions.

This is the society our corrupt political system is maintaining and the same old gombeen politicians are also in bed with the gangsters in the Bank .the central bank governor is also a member of the boys club as are the top union bosses and our national airwaves are well under the control of the vastest interests who by hook or by crook will push us into financial slavery. They have already stolen our national independence and we are now paying interest of Euro 1,000,000,000:00 every month on Private held Bank gambling debts that we are not responsible for. This is not our debt and we should have done exactly the same thing Iceland did and arrest the previous government ministers and all directors of the various Bank directors on charges of fraud and corruption and dereliction of duty.

If the Government are now set on allowing the same toxic bankers to steal the homes of the ordinary citizen then we are on course to an all out revolution and I will be in the front line.

Kenny ,Noonan and Gilmore are  guilty of incompetence at best and treason at worst .They have broken every promise in their election manifesto and I blame them for the countless lives lost in the meantime by desperate citizens forced to take their own lives as a result of these leaches who are continuing to collaborate with faceless bondholders and hot money men in the IFSC . The system is rotten and our political system is infested with self enriching leaches out to get as much as they can for themselves.

All thrust has broken down between the people and the Government, Kenny and his band of collaborators are no longer acting in the best interest of the people of Ireland and they should all go or be pushed off the stage!

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People of Ireland and fellow citizens come stand up and take back our country!

Thomas O Cléirigh

180,000 Irish mortgages in arrears: Next up, mass evictions or revolution?

By Pat Flanagan
Irish Mirror

Grim figures show tens of billions owed by a generation of Irish people
Homeowners are sitting on a debt time bomb with over 180,000 mortgages in arrears, shocking new figures have revealed.
Almost one in five home loans, worth €25.5 billion, were not being fully repaid at the end of March, the Central Bank confirmed.
And between January and March, bailed out banks took back the keys of more than 160 homes as the problem escalates.

Comment: Same old Land War by other means. Tenant evictions have returned to Ireland, and so has the need for boycotting (ostracising) anyone involved in this malicious practice of collecting usury on behalf of the banks.

The grim data revealed:

  • Those in arrears of more than 90 days has reached over 95,000 or 12.3% – up from 11.9% in the previous three months
  • Over 142,118 private households were behind with their repayments in the first quarter of this year
  • On the landlord and investment side, 39,371 buy-to-let mortgages are in trouble.

David Hall of the Irish Mortgage Holders’ Organisation said: “A generation of Irish people are now locked into an endless battle of attrition with the banks.
“In order for those in debt to return to contributing to the economy, we need effective, swift, fair and certain resolution to the household debt crisis.”
Around 95,554 private households were in arrears of over 90 days at the end of March – up from 92,349 at the end of the previous quarter.
The number of those in arrears for about two years and more had also increased from quarter to quarter – from 23,523 at the end of December to 25,940 at the end of March.

full article at source:

Resignation Of Central Bank Governor Sought.

Resignation Of Central Bank Governor Sought.

Mortgage Strike Called.

Christian FitzWilliam for WordPress Euro Blog: 30th. June 2013 ©

Calls grow for the resignation of Irish Central Bank Governor Mr. Paddy Honohan following the publication of its new repressive and draconian Code of Conduct on Mortgage Arrears. Below is an open email to Leo Varadkar sent to me today concerning same.

Hot on the heels of the release of the “Anglo Tapes” by the Irish Independent, timing could not have been worse for the Central Bank and the Irish Government.

 

Many are asking why Minister Noonan allowed such “Famine Era” legislation to be promulgated. Charles Stewart Parnell must be turning in his grave. Was somebody asleep at the wheel of this train wreck?

 

Next Thursday on the 4th. of July at 9AM a demonstration is planned outside the former Anglo HQ on St. Stephen’s Green with a “Mortgage Strike” being called for until guilty bankers have been criminally investigated and placed behind bars.

 

I think this issue is just beginning to gain momentum and I would not want to be in the shoes of Paddy Honohan for love nor money.

 

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An Open Email to Minister Leo Varadkar

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Dear Minister Varadkar,
With great sadness  I must say “shame on you”.
Your comments recently in the Irish media regarding struggling Irish homeowners was disgraceful and most disrespectful.
Yes some people are taking advantage of the Irish financial crisis and are opting  for “strategic default” but the majority of people in difficulty are going through financial “hell”.
Minister you seem to forget that hundreds of thousands of Irish folk have lost their jobs and careers over the last 5 years. How does one fully pay a mortgage with limited or no income? Nearly 70 billion Euros of “grace” has been granted to Irish  banks yet, strangely  no, sympathy or support is being granted to common folk.
Why have you so lost all principle?
The changes to the Central Bank’s Code of Conduct announced last Thursday is a disaster to genuine struggling homeowners. For instance:
1.       The 12 month moratorium on  legal action is gone.
2.       “Harassment” for payment of arrears can commence immediately for those mortgage holders who do not “co-operate”. Co-operating means assisting in the active repossession of their home. How perverse a request.

3.        The option to have an independent review of the bank’s decision to repossess, through the office of the Financial Ombudsman, has been abolished. This requirement to have an independent body of appeal was a key pillar of protection recommended by the Government’s own report on Mortgage Debt. commissioned by the Dept. of Finance.

In other words your government says one thing but does another. You have abandoned the Irish credit consumer.
Your comments last Saturday on Irish radio displayed as much arrogance and mis-understanding of the true nature of this crisis as shown by Mr. Drumm in the recently disclosed “Anglo” Irish tapes.
Shame on you and your government Sir.
Respectfully I call upon you and your government to seek the immediate resignation of Central Bank Governor Mr. Patrick Honohan and have the repressive July 2013 Central Bank Code of Conduct repealed immediately.
Sincerely,
Rodney Shrewsbury

 

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The Anglo effect on austerity

Brian M. Lucey

drummerSeamus Coffey has a good nuanced discussion on his blog on Anglo options a la 2008. Despite what some might think, there were alternatives to the Guarantee. In any case, the evolution of general government debt since the start of the crisis is startling. In 2007 we had a GGD of €47.2, at end 2012 it was a whopping €192.5, an increase of €145.3. Of that we can allocate €30 or 20.6% to anglo. So a simplistic calculation is this : 1/5 of the total adjustment we have to make is down to Anglo. 1/5 of tax increases, spending and payroll reductions, down to Anglo. Ponder that…not really a laughing matter is it David?

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