By Thomás O Cléirigh
As I write this I am hearing on the Irish radio that the finance minster is in Talks to formalise the “Cyprus Bank bail in” system for a European wide execution .If you are an Irish depositor get your money out now as these crooks will be taking a hefty slice of you hard earned money to contribute to the next phase of the Irish Bank bailout madness!
The public are been kept in the dark as to the real ramifications of this so called new fiscal measures, now been formalized to secure the European banking system from total collapse. Make no mistake we the citizens are been set up once again for a massive fall and we will have to foot the bill that is sure to come by the autumn. Allied Irish Bank is Bankrupt and the only way for this toxic corrupt zombie bank to survive will be the wholesale robbery of its customers A LA Cyprus! I just checked again on the RTE website to hear once again the news podcast but the item is no longer to be found!
The public are been kept in the dark!
See also: http://thepressnet.com/2013/05/13/if-i-provide-proof-that-the-entire-irish-banking-system-is-a-sham/
By Thomás O Cléirigh
Questions have to be made about Irish Bank practices during the so called housing boom and you don’t have to be a genius to figure out that the banks took shortcuts that are still been hidden from the unfortunate clients/victims of the corrupt banks .Why should the mortgage holder, who is now nursing massive losses, now have to pay for the ( at best )incompetence and in so many other cases downright fraudulent practices by the banks and their agents???May I remind everyone not one banker has come before the courts and in fact all of the disgraced directors are enjoying lottery pensions and we the downtrodden taxpayers are footing the bill for their millionaire lifestyles.
Where is the justice we are guaranteed by our constitution?? if corrupt politicians, union bosses and bankers can exploit the resources of our country and impose austerity on the rest of us?
Wake up citizens of Ireland! Fight back !
Your Home, your Emotional Wellbeing and Security, that is what the Courts affect when they facilitate the Banks by ruling in their favour at repossession hearings, in almost 100% of cases the entire merits of the case are decided on three simple questions,
- Did the borrower, borrow the money?
- Is the Borrower making payments?
- If not, when was the last payment made?
That is it in a nutshell, the process is started by the Bank’s with the sole objective of steering the Court proceedings to a point where the Borrower is either not present or stands in the intimidating environment of the Court, alone, unprepared and unrepresented. There is not a snowball’s chance in hell of the outcome being anything other than the Borrower losing their home.
The Judge will not consider any evidence, motion or pleading which is not presented to him in a certain fashion which complies with the Court rules, so hope on the part of a borrower is non-existent.
Now we must consider the Bank, which is applying to the court for an order to take the home from the distressed Borrower, the very Bank which was complicit in creating the conditions which gave rise to the domino effect of degenerating personal finances and eventual inability to pay that culminated in the Borrower being in Court
full article from our friends over at “Awaken Longford” link here http://awakenlongford.wordpress.com/2013/02/04/what-does-your-home-mean-to-you/
AIB (Photo credit: Wikipedia)
THE Government has been accused of standing back as AIB “bleeds the ordinary householder dry” following the bank’s decision to hike up its variable-interest rate for the second time in two months.
The State-owned bank shocked its customers earlier this week when it announced that it would be raising its interest rate by 0.5 per cent to 4 per cent — two days after the bank had paid €1bn to senior unsecured bondholders.
The bank, which has received a €21bn bailout from the taxpayer and is now 99.8 per cent owned by the State, increased its interest rate, despite the ECB halving its rate in the last 12 months…………………………………..
full article at source:http://www.independent.ie/business/personal-finance/property-mortgages/government-is-letting-aib-bleed-homeowners-3251571.html
The unfortunate customers of Permanent TSB have been sucked dry now for the last 3.5 years with interest rates of 6% .I have been warning about this bank’s policy to fleece their own customers in an effort to build up their balance sheets as a result of their criminal behaviour during the so called boom years. See link: http://www.irishtimes.com/newspaper/finance/2012/0523/1224316551107.html
The bottom line here is the equally corrupt government that is now sitting in Lenster House is allowing the State Banks to run amok again and this time the customers are paying the tab in an unending cycle of hidden bank charges ,no credit and penal interest charges on overdrafts (If you’re lucky enough to have one!) This shower of Gombeens in the Dail are speaking with forked tongs and are crying crocodile tears. Close all your bank accounts and go to the post office or your local Credit Union.
Josiah Charles Stamp President of the Bank of England in the 1920’sPresident of the Bank of England in the 1920’s and the 2nd richest man in Great Britain, 1880-1941)
This German poster is a quote is from him translation underneath !
taken at the Occupy Hamburg site!
“The modern banking system manufactures money out of nothing. The process is perhaps the most astounding piece of sleight-of-hand that was ever invented. Banking was conceived in inequity and born in sin… But if you want to continue to be slaves of the bankers and pay the cost of your own slavery, then let the bankers continue to create money and control credit”
Image via Wikipedia
Building the Great Pyramid: The Global Financial Crisis Explained
This essay was accepted as evidence and published by the British Parliament, House of Commons, Treasury Committee.
When the financial crisis erupted at the end of September 2008, there was an unusual sense of incredible panic among banking executives and government officials. These two establishment groups are known for their conservative, understated approach and, above all, their stiff upper lip. Yet at the time they appeared to the public running about like headless chickens. It was chaos. A state of complete chaos. Within a few weeks, however, decisions were made and everything seemed to returned to normal and back under control. The British Prime Minister Gordon Brown even famously remarked that the government “saved the world.”
But what really caused such an incredible panic in the establishment well known for its resilience? Maybe there are root causes that were not examined publicly and the government actions are nothing more than a temporary reprieve and a cover-up? Throwing good money after bad money, maybe?
Money Making Machine
In order to answer these questions we have to examine the basic principles on which the banking system operates and the mechanisms that caused the current crisis. Students at the A-level are taught about “multiple deposit creation,” It is the most rudimentary money creation mechanism for banks, which if administered properly serves the economy and public at-large very well. In the deposit creation process a bank accepts deposits and lends them out. But almost every lending returns soon to the bank as a deposit and is lent again. In essence, when people borrow money they do not keep it at home as cash, but spend it, so this money finds its way back to a bank quite quickly. It is not necessarily the same bank, but as the number of banks is limited (indeed very small) and there is — or was — a very active interbank lending. In terms of deposit creation the system works like one large bank.
full article at source: http://gregpytel.blogspot.com/2009/04/largest-heist-in-history.html
By Keven M O Brien
In an article I wrote for Seeking Alpha last month, I discussed how Bank of America (BAC) stock could either completely tank relatively quickly – or be an excellent buy if you are willing to take on some of the additional risk associated with owning it. When BAC was hovering near $5.00/share, I was very concerned that anything much below that level would really cause the short sellers to swarm it like vultures and completely sink
it.Bank of America released third quarter earnings this past Monday and
surprisingly turned in a profit, compared to the third quarter of 2010 when it
had a $7.3 billion dollar loss. See here for more on these results. The third quarter results did reveal that Bank of America is now behind JP Morgan Chase (JPM) as America’s biggest bank.
full article here: http://seekingalpha.com/article/301409-bofa-weathered-a-storm-but-risk-still-persists.
As a trader of BAC stock I thought this might intrest some of you!