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Archive for the ‘Budget 2009’ Category

Preliminary Report Into Ireland’s Banking Crisis 31 May 2010

After reading the Preliminary Report into Ireland’s Banking Crisis one can only come to the conclusion that Cowen and Lenihan are Guilty of “Gross Incompetence and Dereliction of Duty”
And should resign immediately and be brought before the courts
on charges of economic treason !

Preliminary Report Into Ireland’s Banking Crisis 31 May 2010

Lenihan raising house prices

 

Extract from article in namawinelake  ( click on text)

On the Minister of Finance.

What business does he have telling us that prices are now realistic? What prices is he referring to? On what basis are prices realistic? To whom are they realistic? If prices are realistic does that, as the Independent aver, equate to prices being at the bottom? Maybe but let’s remember that the Minister must also on occasion don the leader’s hat and tell us to cheer up, it will get better and we will rebound and I know that we must believe that.

I wonder whether if the Minister donned the realist’s hat he would believe his own words at this point in time. If the Minister had just spent €54bn of the State’s money on gold, I wouldn’t expect him to say anything other than “buy gold today and get as much of the stuff as you can”. Time will tell.

 

Machholz comment

Spot on, this guy (The Irish Government) has at a stroke become the largest property owner (through his creation of the largest fraud in Irish history NAMA) in Europe if not the world.

I deal in the financial markets on a Daly bases and have done so for the last 15 years, buying stock and selling stock, hedging through options .It is common practice to see an action in the various markets called “pump and dump” this is done with 98% of the time of worthless stock

Large chunks are bought for pennies and the talked up, by analysts who get themselves on to such media channels Fox news, yahoo Finance and cbsmarketwatch and a whole host of other news outlets ,pumping the message that this is the time to buy this sh**

This of course is precisely what Lenihan is now trying to do, talk up the stock (Property) (mostly worthless stock)

The last time a Minster from this Government told people to buy property, (Berti Ahern) He said that if you were not getting into property now you were a fool, we all know what happened then!

I have over the years bought and sold property and always kept to a few rules when ,buying as there is only one rule when selling and that is sell at a profit.

 When buying

  • find out what rent you would get for the property

    Let’s say you will be getting 800 euro per month, and that rents are stable and not going down. This would then give an annual rent of 9,600:00 Euros

  • Multiply this figure by 10, this gives you 96,000.000:00Euros .This is the maximum you should pay for this building period!

    Why 10? , because this is the highest interest rates are likely to go. And with this system you will always get someone to rent and thus pay the mortgage.

  • Do not listen to the estate agent with regards to a price for the property; His or her interest is completely different to yours.
  • Ballpark value of average property is dependent on availability of credit from the banks

    And location .values can be arrived so

    The average working wage is currently 28,000:00 Euro and I believe falling because of the government’s income tax measures to pay off the huge bailout of the banks and their cronies in the Building industry.

    The stated policy of the Banks is to give only two and a half times salary and that is with conditions attached

    So 28,000:00 X 2.5 = 70,000:00 Walla, average price one should pay for a property in Ireland

    This formula works all over Europe (Germany, France etc)

  • So based on these figures we are nowhere near the bottom ,with 500,00 on the dole and approx 56,000 leaving the country, approx 23,000 young students leaving as well who do you think is going to buy all 300,000 empty properties around the country??


     

we need reform now!

The current Irish Government are responsible for the financial disaster the country is in,
With the establishment of NAMA the Government is trying to socialize the enormous losses that the Banks and their Developer buddies have encored.
Corruption is rife and now a new monster burocratic system is being created, where X politicians will have jobs for life and the same corrupt developers will be able to manipulate the housing market all over again
While the people are being robbed of their homes, savings, pensions, and education for their children, that same gangsters are running the country
This has to stop!
Join the CAB to-day and get things moving
Come on! Get active in your own area now!
We as a country need new faces and not the same old tired faces that have being around using the system to suite themselves.

X TD’s car-park Perks

 

Just in case you missed this

George lee was photographed yesterday getting into his car at the Leister House car park

Question is this car park space subject to the new car-park tax of 200 per year?

Did you know that X  TD’s are entitled to park their cars at the said car park for Life even when they are no longer TD’S?

George clearly is keeping this perk!

Tell the people the truth about the Markets & NAMA

Do you really want to know what is really going on in the market place?
Ever heard of the “Rigged Market capitalists system”
Are you ready for this news??
Ernst & Young auditors of Anglo Irish Bank now working for NAMA ,
The same auditors for Lehman Brothers .
This is criminal , allowing this to go on, they should all be in Jail !
We must have a new Irish people’s political party that will stop this fraud in its tracks.
A political party that will prosecute all the individuals responsible for this criminal conspiracy
They must be brought to justice
We the people must have our pound of flesh!

The Foxes minding the Chickens

The Governments intention to hold the inquire in the banking collapse in Private is an outright attack on Irish democracy

Having beaten down the will of the people to use the exiting democratic means to challenge them

We find that they are in total control of all the machinery of the state and they are using them to maintain their hold on power.

A recent poll on the performance of the governing parties is a complete farce.

The same radio station went out and asked the general public about the results and not one out of the members of the public supported the so called results of the earlier poll.

The News Media in this country is heavily infested by the ruling political elite

That is why there is a revolution going on with the whole way we access news to-day.

Bloggers are organizing themselves all around the country and demanding the same access as the established news media and probing into local corrupt practices within local county councils

(See for example https://mail.google.com/mail/?hl=en&shva=1#all/12654e2d240b57cd )

if you are want to start making a difference to the way the country is being run and get involved in direct action, you could start to-day by tacking action and fight for your right to be heard .

It’s your country and not the personal property of Brian Cowen, Brian lenihian, The Greens or indeed any of the political parity’s currently sitting the Dail

If you believe in an open economy, free enterprise, competition social justice

Then please get in touch and start an action group in your own area and help us to formulate a manifesto to challenge the established con artists that lurk within the current political system.

Join the CAB to-day

Bertie Ahern’s exemption from Tax

Extract taken from www.thestory.ie


The 2006 capping of the exempt income has – as artists’ lobby group, Visual Artists warned – resulted in some high-earning individuals moving their tax residency abroad. The most infamous case, of course being U2, who moved their tax residency to The Netherlands.

However, a stark majority stayed, obviously, as it’s almost always awkward to uproot.

Bertie Ahern’s claiming of the exemption is notable for two reasons, one perhaps less noteworthy than the other.

Firstly, it illustrates just how little civic responsibility the man feels for the situation the country finds itself in today, something that will surprise few. Ahern is already in receipt of a number of State pensions, these total more than €120,000. He also has use of a State car 24 hours a day, every day, which transports him wherever he wishes to go at no personal cost. On top of this he receives a TD’s salary of more than €100,000. He also earns, or has earned, considerable amounts from private speaking engagements, though it is said business is slow these days for ‘the architect of the Celtic Tiger’. In short, he’s not in search of a few pence to rub together, unlike many PAYE workers and private sector taxpayers as of late. Still, he actively sought the exemption on a book ghost-written by Richard Aldous for which Ahern received more than €400,000 in an advance when he could have left the money in the nation’s coffers. This is where, I argue, it is needed and should be. He did so knowing it would cause controversy and offense.

A well written article indeed well done

However I beg to differ on one small point

I do not believe that anybody having earnings over the average industrial wage should be able to avail of this exemption from income tax , period!

There should be a ban on all public servants from gaining financially from their knowledge of having being a Public servant

Just my humble opinion!

Spot the difference

 

This is a part of an article that David McWilliams wrote see link

http://www.davidmcwilliams.ie/2010/01/06/iceland-shows-importance-of-putting-people-before-banks

Yesterday the, largely ceremonial, president of Iceland stood up for what is right. He decided that it was not democratic for the Icelandic government to insist that the Icelandic people pay foreign depositors who deposited money in Icelandic banks that subsequently went bust.

The president refused to sign the parliament’s bill, which would have penalised the Icelandic people for the mistakes of the executives of the Icelandic banks. He concluded that this was not reasonable as the banking mess was not the fault of the average Icelander. Iceland will have a referendum on the issue now.

This move implies that Iceland might jeopardise its access to IMF funds as well as definitely knock back its aspirations to join the EU.

The official line peddled by the international bureaucrats is that standing up for the small guy undermines Iceland’s credibility. However, the president decided that if credibility in the eyes of the foreign investors comes via hoodwinking the average Icelandic citizen into footing the bill for a mistake the financial markets facilitated, then it was better to be not credible.

Comment


I wrote to the Irish President on the 12.11.2009

See below

Dear Madam President,

The Nama Bill was passed in the Dail this afternoon by 81 votes to 62.

This is the single biggest fraud perpetrated on the Irish people and all 81 TD’s that

Voted for this will be held accountable!

Nama will buy property loans with a supposed book value of 77 billion Euros, according to the Government

Brian Lenihan has estimated that the loans are currently worth about €47 billion.

On what bases could he possible justify this valuation?

Who exactly is being bailed out, none other than foreign entities with no allegiance to Ireland

Why anybody would take anything that this person says seriously, judging on his past record and bearing in mind that this person is responsible for the crises in the first place along with his incompetent cohorts !

By overpaying by €7 billion, the Government hopes to avoid bankrupting the banks

What a laugh, somebody should tell him that they are all ready bankrupt, (morally, socially, and financially)

These Banks have in the past stole from their own customers, the revenue and have being shown to be corrupt and found trying to manipulate each other’s shares and yearly accounts

The Bill will now be sent to President Mary McAleese

I appeal to you, the President, Mary McAleese

Not to sign this piece of legislation and as President to protect the Irish constitution which guarantees all the people the right to be heard?

The 500 green party members had their vote and now the vested interests in the Dail have had their say

We the ordinary people want to have our say, call a referendum on NAMA

Demand that this be brought before the people now!

Sincerely

This is the reply I got !

Conclusion

Our Presidency is just another link in the chain that is strangling Irish Democracy

No sooner has the current president set foot in the Aras she has immersed herself into the game of staying in power and sod the rest of the ordinary people

What a difference the Irish president sends out the above letter and supports the foreign bond holders but the, president of Iceland stood up for what is right. He decided that it was not democratic for the Icelandic government to insist that the Icelandic people pay foreign depositors

The Icelanders at least have a true Man of the people in their President

We on the other hand have yet another stooge for the ruling elite


CAB Join up to-day !

Citizens Association of the Bewildered
(CAB)

As stated before I remain convinced that we must put pressure on the powers that be

Again to-day Brian Cowen fob off the Idea of an investigation into the Banking meltdown that he and Brian Lenihian help to cause

He also poured water on the notion to revisit the previous financial regulators negligence

We can make all the comments we like and David McWilliams will eventually move on to the next topic

I believe that it has its uses, like b ringing likeminded individuals together to discuss the grave matters facing the Irish Nation.

But I am not satisfied anymore just talking about things I want to do something and I want to fight back I want to bring the fear I have every day, to the very people that have caused this incredible damage to our country

These people have blood on their hands, just look at the suicide’s statistics

There comes a time when you just have to stand up and take action !

Who will join me?

To all Irish patriots out there join


CAB  
 now

(Citizens Association of the Bewildered)

This new association is dedicated to taking the fight into the streets of Ireland to take back our country from the incompetent political leaches that have destroyed our independence, handed us over to unscrupulous bankers and their masters the foreign bond holders

This club is for people willing to fight using all available means to take back our country from the corrupt politicians in Lenster House who have sold out their own people to enrich themselves

You can get in touch with me  at  bewilderedcitizens@gmail.com

Only if you are willing to fight for what you believe in.

Any help is appreciated but do something!

Let the people have their say!

“Deep divisions” are opening up in Irish society and attempts are being made to drive a wedge between public sector and private sector workers, Eamon Gilmore told the annual conference of Labour Youth in the Mansion House Dublin last night.

He said Friday’s huge turnout of both public and private sector workers at the Irish Congress of Trade Union’s (Ictu) national day of protest showed “workers are not going to lie down and meekly accept being singled out by Fianna Fáil and the Greens”.

“The Government is saying that the €4billion that needs to be found in this budget must be achieved by targeting those on social welfare; those who work in the public service; and those who are dependent on public services.

More at link

http://www.irishtimes.com/newspaper/breaking/2009/1108/breaking21.htm

Mr Gilmore, it surprises me to think that you did not anticipated this strategy from the Government and its media cronies, but what is more surprising is that you stated on TV last week to David Williams that if NAMA was passed you in a future Government would not change anything with NAMA

This has to be the shock of the year for me and thousands of others that thought you could be the obvious choice to replace Brian Cowen!

It is now not as clear to me if I should vote for Labour.

In light of this revelation, I call upon you now to demand an immediate General election.

You can stop NAMA from ever happening then,

(That is if you are really determent to stop it)

We the people have the right to vote on this ourselves don’t you think?

 

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