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Posts tagged ‘Odious debt’

We must not pay the Anglo Irish Bonds!

By Thomás O Cléirigh

2nd week in Lubeck 2013 009

This Zombie house( Anglo Irish Bank)  should have been burned down 5 years ago! The people of Ireland have been rightly screwed and the top directors are still living a lifestyle very few people in Ireland can now have .The Gangsters who brought our country to its knees and have effectively made financial slaves out of the rest of us have long gotten, their ill gotten gains safely away and the puppets in Lenster house are quietly supporting the other gangsters from the other corrupt banks. An Ex Attorney general was amongst them. The financial landscape in Ireland is littered with X politicians who are supposedly looking after the” public interests” on the various bank boards.(If you believe in the tooth fairy that is) These traitors, in the current government are no better that the Fianna Fail gangsters who sold us out to the hidden moneymen and now we are subject to this Muppet  Anglo Bond show. Kenny and Noonan will go down in Irish History as nothing more than an Irish version of the collaborating Vichy Government in France in the last war!

Our country is been stripped of its entire means to deliver a proper health service to its people and our people are been forced to pay new penal poll taxes to pay interests on debts that are private debts from privately owned Banks.

We are not libel for these debts and our politicians are themselves mouthpieces for our new masters who have emerged from the shadows of corruption! They have abandoned our people to these faceless slave traders and as long as they receive their annual 30 pieces of silver they will continue to deliver us up to these financial slave traders .We must rid ourselves of this” Odious Debt “and the puppets that call themselves our government. The republic of Ireland in no more and the self-serving leaches that dance around Lenster House are nothing more than puppets and enforcers of the dictates coming from our unelected masters in Europe!

The ever increasing tax load on the shoulders of ordinary people of Ireland is only paying the interest of the private debts of fraudulent Bankers and their pals the incompetent politicians who continue to force our people to bail their gangster buddies out.

We the people of Ireland must now refuse to pay another cent to these champions and cheer leaders of the financial slavery they have imposed on all of us! We must now refuse to lie down and comply .Debt is a excellent form of control and the fear of not being able to pay your bills is now a dally cause of great concern to every household in the country .People are been forced to comply with the dictates of the faceless unelected autocrats in Europe. We must rid ourselves of these leaches that are sucking our country dry.We must not pay the Anglo Irish Bonds!

Stand up and take back our country from the gangsters in Lenster house and their banker buddies.

Roll on the 2nd Irish republic!

People of Ireland get up off your knees

By Thomás O Cléirigh

Ireland Jul-Aug2012 105

I am so frustrated by the absolute incompetence of our gombeen politicians. On east coast radio this morning I had to endure the utter tripe and garbage, coming from a 25 year old TD from Fin Gael who hasn’t worked a single day in a real job and yet this Gob***t has the gall to preach to us the downtrodden taxpayers ,why we should continue to pay these new poll taxes and stealth taxes , as we see local services disappear from our local communities .This self centred leach, is just an example of the latest batch of Liars, and puppets who are been groomed to take the helm on the good ship “Austerity Ireland” as she sails into “Financial oblivion”. whilst at the same time topping up on his expenses and pension entitlements.

Our country is been raped and pillaged and gangsters who are running the government .The Banker autocracy is well entrenched into the very fabric of our society .The same bankers are now more powerful and are dictating policy .We will never be able to remove these criminals as they do not come up for election and no matter what current political party gets into the Dail these crooks will still have enough power to force their interests to be placed about that of the ordinary people of Ireland  . The latest budget was dictated to the current puppet government and any new revenues collected will only go to paying off the “Odious debts” of gamblers and downright gangsters. Our local TD’s are only out for themselves and have proven to gutless liars who are well able to come on to the local media and waffle on about the “Greater good” .This is of course as long as they continue to enjoy lottery salaries and perks Obama would be embarrassed  to take .

Our natural resources are been sold off to crooks and murderers and I for one do not and will not recognize the legal right, or moral right of the current government to continue in office. I believe  our constitutional rights are being eroded and stolen from us by the collaborators who infest  Lenster house .People of Ireland get up off your knees and do something to-day, join the many new citizens groupings such as Direct democracy

God Bless and have a Merry Christmas

Machholz Blog

https://www.youtube.com/watch?v=8-SiYQ8s_6I

If there was ever a justification for a revolution this has got to be one! I am too sick and disgusted with all of the gangsters who have had a hand in covering up this scandal and betrayal of the Irish people.

NAMA Wine Lake

On Wednesday, it almost seemed a throwaway question that revealed that AIB had in August 2012 shovelled €1.1bn of the €20.7bn taxpayer bailout into its pension fund to plug a hole which put at jeopardy “super pensions” payable to former executives at the helm of the bank during the boom which has now spectacularly turned to bust; it should be said that the pension fund also pays the more bread-and-butter pensions of former AIB employees who might have been on modest salaries. The transcript of the hearing is not yet available, so the deputy who first extracted the information from the AIB CEO David Duffy isn’t getting credit on here at this juncture.

Since Wednesday, there have been a number of messages received in confidence on here which suggest that we have just scratched the surface of bank pension funds and how they were managed prior to the bust, their…

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To all the children of Eire “We are being raped slowly and repeatedly”

By Thomás O Cléirigh

Fellow countrymen and woman we are being raped slowly and repeatedly and we are being held down by our own corrupt puppet politicians!

For the past four years I have been forced to pay subprime interest rates on my mortgage(6%) even though I have never failed to pay my mortgage “Ever” I have always had at least 3 months payments in advance my account. I am one of 80,000 customers of the Permanent TSB who are been forced to pay this penal interest rate to this corrupt and toxic bank stuffed full of gangsters! As a variable rate mortgage customer I am been forced to pay the gambling debts of this corrupt financial institution. Kenny and his co-Gombeens in Leinster house are as far as I am concerned ,they are just as corrupt and are lying Basta**s who should be taken out and Shot for their participation in the financial enslavement  of the Irish Nation.

We the Irish people collectively,  are been forced to service odious debt that are helping to keep  faceless gambling  bondholders in business ! These hidden money men are destroying our communities, they are enslaving our children and are robbing our countries natural resources and the current government are colluding with this hidden enemy! The time has come for all true patriots to come together and form “The resistance” We have no choice now but to take any and all action! The time for waffle is well past as every day more and more of our country is been stolen to enrich the Insider elite who have bought their way into the Dail. Ireland get up off your knees and stand up and fight back against the infested Dail and the hidden money men who are sucking us all dry!We must default ,we must send these leaches packing now!

A message to the servants of the Irish people

Response to latest article from David Mc Williams

(“The numbers that continue to damn us“)

By Thomás O Cléirigh

I have been calling on the Irish government to default on this odious debt but the puppets in government have no say as the have sold themselves and the rest of us into financial slavery. I am now living in northern Germany and I am now here over a year and when I go back to Wicklow Town on family visits I am always shocked at the total lack of activity in the town .

More and more shops are just going through the motions of opening for business but everyone tells me they are struggling. The town is like a ghost town from around noon there is no one the main street .I wouldn’t be surprised to see a tumbleweed roll straight past me !More and more shops are closing down. At least 5 out of 13 households are contemplating moving abroad for work next year . I was the first to go. Looking at the current situation, I am horrified at the sheer incompetence of our political masters. They seem to be deliberately forcing our youth out of Ireland but the sad fact is more and more Dad,s and Mom’s are also leaving !

There is no hope on the horizon, as the gombeen and ,stroke politicians are firmly entrenched in the corrupt political system we have  and there is no prospect of real political change. The codgers walking around Lenster House have been there and their Fathers or Aunties for as long as I can remember giving themselves lottery perks and pensions as we see according to the latest figures .

 “According to the report: “Accrued pension entitlements of public servants are a significant liability of the state. At end December 2009, a total of €116 billion had accrued in respect of occupational pensions payable to public servants.
Those liabilities represent the estimated present value of the cash payments that fall to be met over the next 60 years in respect of pensions earned at December 31, 2009.”

This is the product of the pay-as-you-go system which is government public sector pensions. The problem is not just that the state doesn’t have the money, but that the public sector pension bill is rising at a ridiculous rate.
This time last year, the same report estimated the public pension liability at €108 billion at the end of 2008. In only 12 months, the estimated liability has increased by a whopping €8 billion”

This is immoral and totally indefensible! The current crop of gangsters in the Dail ,who are  running the country are not facing up to reality, they are completely committed to the cause of Angelika Merkel and her new 4th Deutsche Reich! The plight of the ordinary citizens is of no concern to these insider Boys and Girls, as long as they can withdraw their lottery salaries and pensions they will continue to march us down the path of financial Armageddon. I have called for a default in the past and I do so again.

We simply cannot pay this odious debt and we should never have never allowed our corrupt government to do so .The Irish people must stand up and demand full repayment and compensation for this forced destruction of our State. The gross mishandling of our state’s finances must not be rewarded the civil servants ,Bankers and politicians connected with this disaster must not be allowed to benefit with large pensions and perks .

We must stop rewarding incompetence in all government offices and civil servants must now be forced to accept the fact that we do not nor can we afford the unbelievable pensions they were promised by corrupt politicians in the first place. A message to the servants of the Irish people welcome to the real world! People get fired every day and do not have automatic rights to lottery pensions.

As a citizen of Ireland I do not accept that the servants of the people should be given rights way above those experienced by the vast majority of the citizens they are supposed to be serving! Come on boys and girls get real we just can’t afford this party any longer.

Deal with it! The party is over!

Telling tales about our ‘Productivity’?

Odious Debt Lawyer Wanted - Work for The 99%

Odious Debt Lawyer Wanted – Work for The 99% (Photo credit: infomatique)

By Dr. Constantin Gurdgiev

Irish labour productivity per person employed is at 136.9% of the EU27 average, which makes us the second most productive economy in the Euro Area and the third most productive in the EEC. Of course, the thing that jumps out in the chart is the massive over-performance in output terms by two other ‘special’ countries: Luxembourg and Norway. This should ring lots of alarm bells when it comes to trusting the above data to base actual comparative assessments on

full article at source: http://trueeconomics.blogspot.ie/

Comment:

No surprises here as we all know, the government sponsored figures crunchers  are only manipulating the data and coming out with the “right picture” making the government look good and on top of an otherwise disastrous economic policy!

Forcing the people of Ireland to take on massive odious debts of the corrupt banks and debts resulting from their own incompetence and economic treachery! Nothing coming from the government   sponsored   Quango’s and their mouthpieces can be trusted .

The real truth is that we are worse that Greece and there is no possible way we can service the imposed odious debts placed on our shoulders by mouthpieces of the conmen and woman in Berlin! Time to be truthful and bit the bullet tell Berlin go take a hike and squeeze somebody their own size like France or Italy!  As for the collaborating puppet government in Lenster house, economic terrorists the lot of them!

Charge of the Lie brigade

That’s what it says on the final reminder to pay your Household Charge (the new property tax being introduced here in Ireland). They manage to combine meaningless bullshit, calculated deceit and veiled threat all into one brief phrase. That shows flair.

Don’t pay the charge and your neighbors suffer, it seems to say. As if central government is lowering its funding to local authorities by precisely the amount the household charge should raise. Of course, central funding for local spending will be reduced by far more than the household charge was ever going to raise – even if everyone could pay, never mind will. The shortfall will eventually be made up by allowing local authorities to raise the charge. So central government can keep lowering its contribution, effectively raising taxes while avoiding blame.

Neat.

source: http://i.doubt.it/2012/03/27/charge-of-the-lie-brigade/

Comment:

This Poll tax is nothing short of state sponsored extortion, racketeering and state bullyboy tactics now seem to be the order of the day! You have got it in one ,the gangsters and sell-outs in the current government, whom by the way, have abandoned their duty to uphold the interests of the Irish people, have instead allied themselves with the ever increasing dictates coming from “our friends” in Berlin)

These gutless politicians are using this as an excuse to starve the local councils of funds and shove the dirty work(of tax collection) on to the shoulders of council workers by making them call to citizens doors “reminding” them to pay this unjust poll tax. This is just the start of an ever increasing annual tax that home owners can look forward in the future. All taxes that are raised are going towards the interest payments on the private debts that were foisted on to the Irish citizens.

These debts may I remind everyone  are private bank losses “Odious Debt” that the Irish taxpayers have no responsibility for .The blatant blackmail of our country be the servants of Deutsche Bank in the ECB have ensured that our small country will have to endure a generation of financial slavery as a result of our gutless politicians and their absolute betrayal of their constitutional duty to put the interests of the people of Ireland before the interests of Berlin and its banker dictatorship.

This Government has no right to impose this odious debt on to the Irish Nation and they certainly do not have the right to impose unjust taxes on behalf of foreign interests that are destroying the very fabric of our communities .We need to come together and fight for our rights enshrined in our constitution!

The End of the Eurozone?

It is my contention that in the case of people of Ireland are is a similar position we are been forced to take on the private debts of our private and corrupt banks by our equally corrupt politicians and the sorry fact is that established political parties are united in their stance that the public have to pay back these private debts .The politicians are Eger to end their golden years in plumb jobs in Europe and also enjoy enormous pensions while impoverishing their own people .we see that it is quite feasible to repudiate these debts legally, I propose that we the people of Ireland refuse to take on such a burden and tell the politicians they can pay these debts themselves  they are getting paid well enough  to do so !.Make no mistake this is a clear case of case of Odious Debt. The panel in this  video clip ,is no wiser that the ordinary man in the street of Dublin ,Athens or Madrid with regards to a solution of this problem .We the people will not comply an become financial debts slaves to Gamblers.

“Odious Debt”

In international law, odious debt is a legal theory which holds that the national debt incurred by a regime for purposes that do not serve the best interests of the nation, such as wars of aggression, should not be enforceable. Such debts are thus considered by this doctrine to be personal debts of the regime that incurred them and not debts of the state. In some respects, the concept is analogous to the invalidity of contracts signed under coercion.

The doctrine was formalized in a 1927 treatise by Alexander Nahum Sack, a Russian émigré legal theorist, based upon 19th Century precedents including Mexico’s repudiation of debts incurred by Emperor Maximilian’s regime, and the denial by the United States of Cuban liability for debts incurred by the Spanish colonial regime. According to Sack:

When a despotic regime contracts a debt, not for the needs or in the interests of the state, but rather to strengthen itself, to suppress a popular insurrection, etc, this debt is odious for the people of the entire state. This debt does not bind the nation; it is a debt of the regime, a personal debt contracted by the ruler, and consequently it falls with the demise of the regime. The reason why these odious debts cannot attach to the territory of the state is that they do not fulfil one of the conditions determining the lawfulness of State debts, namely that State debts must be incurred, and the proceeds used, for the needs and in the interests of the State. Odious debts, contracted and utilised for purposes which, to the lenders’ knowledge, are contrary to the needs and the interests of the nation, are not binding on the nation – when it succeeds in overthrowing the government that contracted them – unless the debt is within the limits of real advantages that these debts might have afforded. The lenders have committed a hostile act against the people, they cannot expect a nation which has freed itself of a despotic regime to assume these odious debts, which are the personal debts of the ruler.

More here: http://thepressnet.com/2010/12/15/odious-debt-and-the-irish-nation/

“Odious Debt” and the Irish Nation

It Is the Personal Debt of Those Who Ordered It

There is an established legal principle that people should not have to repay their government’s debt to the extent that it is incurred to launch aggressive wars or to oppress the people.

These “odious debts” are considered to be the personal debts of the tyrants who incurred them, rather than the country’s debt.

Wikipedia gives a good overview of the principle:

In international law, odious debt is a legal theory which holds that the national debt incurred by a regime for purposes that do not serve the best interests of the nation, such as wars of aggression, should not be enforceable. Such debts are thus considered by this doctrine to be personal debts of the regime that incurred them and not debts of the state. In some respects, the concept is analogous to the invalidity of contracts signed under coercion.

The doctrine was formalized in a 1927 treatise by Alexander Nahum Sack, a Russian émigré legal theorist, based upon 19th Century precedents including Mexico’s repudiation of debts incurred by Emperor Maximilian’s regime, and the denial by the United States of Cuban liability for debts incurred by the Spanish colonial regime. According to Sack:

When a despotic regime contracts a debt, not for the needs or in the interests of the state, but rather to strengthen itself, to suppress a popular insurrection, etc, this debt is odious for the people of the entire state. This debt does not bind the nation; it is a debt of the regime, a personal debt contracted by the ruler, and consequently it falls with the demise of the regime. The reason why these odious debts cannot attach to the territory of the state is that they do not fulfil one of the conditions determining the lawfulness of State debts, namely that State debts must be incurred, and the proceeds used, for the needs and in the interests of the State. Odious debts, contracted and utilised for purposes which, to the lenders’ knowledge, are contrary to the needs and the interests of the nation, are not binding on the nation – when it succeeds in overthrowing the government that contracted them – unless the debt is within the limits of real advantages that these debts might have afforded. The lenders have committed a hostile act against the people, they cannot expect a nation which has freed itself of a despotic regime to assume these odious debts, which are the personal debts of the ruler.

Patricia Adams, executive director of Probe International (an environmental and public policy advocacy organisation in Canada), and author of Odious Debts: Loose Lending, Corruption, and the Third World’s Environmental Legacy, has stated that:

by giving creditors an incentive to lend only for purposes that are transparent and of public benefit, future tyrants will lose their ability to finance their armies, and thus the war on terror and the cause of world peace will be better served.

A recent article by economists Seema Jayachandran and Michael Kremer has renewed interest in this topic. They propose that the idea can be used to create a new type of economic sanction to block further borrowing by dictators.

Jubilee USA notes that creditors may lose their rights to repayment of odious debts:

Odious debt is an established legal principle. Legally, debt is to be considered odious if the government used the money for personal purposes or to oppress the people. Moreover, in cases where borrowed money was used in ways contrary to the people’s interest, with the knowledge of the creditors, the creditors may be said to have committed a hostile act against the people. Creditors cannot legitimately expect repayment of such debts.

The United States set the first precedent of odious debt when it seized control of Cuba from Spain. Spain insisted that Cuba repay the loans made to them by Spain. The U.S. repudiated (refused to pay) that debt, arguing that the debt was imposed on Cuba by force of arms and served Spain’s interest rather than Cuba’s, and that the debt therefore ought not be repaid. This precedent was upheld by international law in Great Britain v. Costa Rica (1923) when money was put to use for illegitimate purposes with full knowledge of the lending institution; the resulting debt was annulled.

The launch of the Iraq war was an unlawful war of aggression. It was based on false premises (weapons of mass destruction and a connection between Iraq and 9/11; see this, this, this, this, this and this). Therefore, the trillions in debts incurred in fighting that war are odious debts which the people might lawfully refuse to pay for.

The Bush and Obama administrations have also oppressed the American people through spying on us – even before 9/11 (confirmed here and here) – harassment of innocent grandmothers and other patriotic Americans criticizing government action, and other assaults on liberty and the rule of law. See this. The monies borrowed to finance these oppressive activities are also odious debts.

The government has also given trillions in bailouts, loans, guarantees and other perks to the too big to fails. These funds have not helped the American people. For example, the giant banks are still not loaning. They have solely gone into speculative investments and to line the pockets of the muckety-mucks in the form of bonuses. PhD economist Dean Baker said that the true purpose of the bank rescues is “a massive redistribution of wealth to the bank shareholders and their top executives”. PhD economist Michael Hudson says that the financial “parasites” have killed the American economy, and they are “sucking as much money out” as they can before “jumping ship”. These are odious debts.

Bush, Cheney, Paulson, Geithner, Summers and others who ordered that these debts be incurred must be held personally liable for them. We the American people are not responsible to creditors – such as China, Saudi Arabia – who have knowingly financed these illegal and oppressive activities which have not benefited the American people, but solely the handful of corrupt politicians who authorized them.

source http://www.globalresearch.ca/index.php?context=va&aid=17580

Comment:

It is my contention that the people of Ireland are is a similar position we are been forced to take on the private debts of our private and corrupt banks by our equally corrupt politicians and the sorry fact is that established political parties are united in their stance that the public have to pay back these private debts .As highlighted in the above article ,we see that it is quite feasible to repudiate these debts legally I propose that we the people of Ireland refuse to take on such a burden and tell the politicians they can pay these debts themselves  they are getting paid enough  to do so !

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