Just sit back and tap your toes.
Showing posts with label Ireland. Show all posts
Showing posts with label Ireland. Show all posts
Monday, 30 April 2018
Friday, 13 May 2016
THE MASS GRAVES OF IRELAND
"As no Jewish person
would ever refer to the "Jewish Oxygen Famine of 1939 - 1945",
so no Irish person
ought ever refer to the Irish Holocaust as a famine."
ED Noor: This site is chock full of facts and information on the destruction of Ireland. Yes, Britain is blamed, but we know at that time, as in the present day, Britain and its institutions served largely as a golem for the deeply integrated Jewish banking community that ran international monetary affairs (including Commonwealth interests for the nobility) from the City of London. The destruction of Ireland is almost complete at this present time. The nation has been bought and sold by the European Union, its people decimated by financial fraud and massive immigration. There are SO MANY Big Lies in history; this is just one of many. (IMHO the greatest lies in modern history that must be exposed thoroughly are the Hollowco$t and 9/11.)
What was done to Ireland is, wherever I looked, STILL blamed on a potato famine and, in some despicable instances, being used for the justification of the use of GMO's in the EU!
Is Britain's cover-up of its 1845-1850 holocaust in Ireland the most successful Big Lie in all of history?
The cover-up is accomplished by the same British terrorism and bribery that perpetrated the genocide. Consider: why does Irish President Mary Robinson call it "Ireland's greatest natural disaster" while she conceals the British army's role? Potato blight, "phytophthora infestans", did spread from America to Europe in 1844, to England and then Ireland in 1845 but it didn't cause famine anywhere. Ireland did not starve for potatoes; it starved for food.
Ireland starved because its food, from 40 to 70 shiploads per day, was removed at gunpoint by 12,000 British constables reinforced by the British militia, battleships, excise vessels, Coast Guard and by 200,000 British soldiers (100,000 at any given moment) The attached map shows the never-before-published names and locations in Ireland of the food removal regiments (Disposition of the Army; Public Record Office, London; et al, of which we possess photocopies). Thus, Britain seized from Ireland's producers tens of millions of head of livestock; tens of millions of tons of flour, grains, meat, poultry & dairy products; enough to sustain 18 million persons.
Please read: The Mass Graves of Ireland
Dehumanization, an important part of the process.
While the people were being starved, they were also being shipped abroad to America and Australia to serve as "indentured slaves".
For more on this topic:
THE IRISH SLAVE TRADE ~ THE WHITE SLAVES THE SLAVES THAT TIME FORGOT
Tuesday, 1 March 2011
IRELAND FACES BIGGEST TEST IN MODERN HISTORY AS EU/IMF CONDUCT ECONOMIC BLITZKRIEG
Take heed America,
you are on this hitlist as well.
Stand behind your Irish brethren
and support them
in their struggle against the rapacious bankers.
.
Ireland’s election called a “transformative moment” in nation’s history: a “pencil revolution” at the ballot box
Ireland’s election called a “transformative moment” in nation’s history: a “pencil revolution” at the ballot box
The Fianna Fail party has been annihilated at the polls: the party locked Ireland into an 85 billion euro loan from the EU/IMF at an interest rate of 6% and relinquished sovereignty
New government has just days to stop transfer of tax payer money to foreign bondholders following draconian EU/IMF budget passed in December
85% of the income tax revenue will be used to service the EU/IMF loan by 2012 in an economic BlitzkriegEU insists Ireland must pay banks setting stage for “collision” with new Irish government
Spirit of independence of 1916 awakening as country faces crushing taxation without representation by imperial-style EU administration
Irish voters have delivered “electoral Armageddon” to the Fianna Fail government that saddled tax payers with the obligation to pay interest on a mountain of private bank debt.
Interest on the national debt
is set to consume an 85%
of the country’s income tax revenues by 2012,
according to The Telegraph.
Fine Gael won the most seats in the 166-seat Dáil at 76 and looks set to form a government with the Labour party, which won around 37 seats. Sinn Fein trebled its seats to win 15, including Donegal South West.
Fianna Fail was relegated to the wilderness with 20 seats in an annihilation of historical proportions for the first government in the eurozone to lock its people into an EU/IMF loan.
The stunning ousting of the country’s ruling party that has ruled for 61 of the past 80 years has been called the “pencil revolution” and compared with the uprisings in the Middle East but without bloody street battles.
Fine Gael and Labour leaders met today to discuss at top speed how to deal with the interest payments on the EU/IMF loan.
Money will be taken from the Irish tax payers very fast in an economic “Blitzkrieg”. The EU/IMF have plans to repay 60 per cent of holders of non-guaranteed, unsecured senior bonds by the end of 2012, with bondholders getting €5.7bn this year and €7bn in 2012.
Banks have already received €53bn, or 33 per cent of GDP, since 2008. At the same time, GDP contracted by 11 per cent between 2007 and 2010.
The high voter turn-out at the election of 70% and the wipe out of FF at the polls suggests that the population has understood that corruption among the Irish and EU political and financial elite have caused the worst economic collapse in modern Ireland’s history, and want a government that shows the steely spirit of 1916 to rescue the country.
Polls show huge numbers of voters described themselves as “very angry” and “outraged at what is, in effect, the biggest transfer of wealth from the people of Ireland to foreign entities in history under the pretext of having to pay interest on a paper debt.
Vienna Economics Professor Franz Hörmann explained in a report in Der Standard how banks can create money ~ and also debt ~ out of thin air using the fractional reserve banking system.
He also explained how they can use the fair value accounting rule to amass fraudulent losses on their books that can also be used as a pretext to suck real capital from taxpayers as long as government leaders acquiesce in the fraud.
The FF government and ECB helped fuel a property bubble by easy credit and they subsequently burst the bubble.
The ensuing property losses gave the banks a pretext to declare themselves in liquidity problems and get billions in real capital in the form of tax payer money in return for paper losses.
The EU and IMF are insisting that Irish taxpayers hand over their money to foreign bondholders at a brutal pace, leaving a new government little time to reverse the biggest transfer of wealth from the country to foreign entities in history before key summits in March.
“The cost of servicing Irish bank debt and the EU-IMF bank loans will consume 85 per cent of Ireland’s income tax revenue by 2012, a burden that a majority of voters find intolerable.” reports Bruno Waterfield.
An average Irish family will have to pay
about £3,900 a year in extra taxes,
and most to the banks.
This burden comes after the FF leadership saddled the Irish people with private bank debt obligations which amount to about 135 billion in a backroom deal.
In November, 2010, FF locked the country into an 85 billion euro loan from the EU/IMF at an interest rate of about 6%. They also relinquished sovereignty to the EU and IMF and passed an EU/IMF budget in December 1010 to raise taxes by 5 billion and cut spending by 10 billion Euros.
This triggered early elections and the wipe out of the FF party at the polls last Thursday in a warning to the EU and IMF and banks that voters have had enough.
Enda Kenny is set to attend at an EU summit on March 11, and on March 24 and 25.
Kenny has said he will try persuading his European counterparts to cut the interest rate on the EU loan. But it is not clear how this will help Ireland significantly given the size of the national debt and the pace at which it is being repaid.
According to EU officials, the Irish voters have no say, however, report the media. There will be taxation without representation in a development that puts the EU on the same footing as the colonial British Empire.
The German and French governments are pressing for an embryonic EU fiscal union, which is just another method for looting EU taxpayers who are increasingly opposing the extraction of their money by banks via the European Stability Fund.
The Irish people will never acquiesce in the open looting of their economy by the EU, German and French officials on behalf of the banks in what can only be described as an economic “Blitzkrieg” setting the scene for a collision, as the Telegraph reports.
Labour could reject Fine Gael and its polices on privatization, austerity and income cuts and form a government with Sinn Fein and Independents and make a fresh start.
German economist Hans-Werner Sinn recently said that Greece should readopt the Drachma, recognizing that there is no way out of a eurozone country caught in the EU/IMF bank debt trap other than setting up a new currency and detaching a country’s economy from the blood sucking banks that control the apparatus of the EU government.
It should conduct an inquiry into the banking crisis and bring those responsible to account.
This was an economic crime comparable in the devastation it has wrecked to a war crime.
Ireland should strike out on a new path with full confidence, showing leadership and giving an example to the downtrodden people and tax slaves in the EU Empire.
It freed itself from the grip of the British Empire ~ and this is the same whatever mask or names the EU and IMF may give to their robbery of the Irish people.
With its back against the wall, Ireland has nothing to lose as it is. Following the EU and IMF path will result in the rapid and total destruction of the country.
The spirit of courage and independence of 1916 is surely required to make a clean break.
Any new Irish government should surely write off the paper bank debts, restructure the banks to separate the commercial from the investment or property arms and if it brings the eurozone currency built on debt to its knees in doing so, all the better.
Ireland is already entering a so-called debt-death spiral with soaring unemployment, falling tax receipts, growing mortgage defaults and banks requiring ever more bailouts, forcing the government to borrow more until it is finally pushed into a default.
Given the fact that euro is set to disintegrate anyway under inflationary pressures created by the way the ECB’s buying up the sovereign bonds of the growing numbers insolvent eurozone nations, Ireland would be advised to leave the euro altogether and adopt the punt again, something that would bolster its already strong export sector.
Saturday, 27 November 2010
100 000 IRISH TAKE TO THE STREETS TO PROTEST PROMISED CUTS
November 27, 2010
More than 100,000 people gather in Dublin
to demonstrate against four-year austerity plan to reduce debts
- Henry McDonald Dublin
- guardian.co.uk, Saturday 27 November 2010 14.23 GMT
More than 100,000 Irish citizens took to the streets of Dublin today to protest against the international bailout and four years of austerity.
Despite overnight snow storms and freezing temperatures, huge crowds have gathered in O’Connell Street to demonstrate against the cuts aimed at driving down Ireland‘s colossal national debt.
So far the march has passed off peacefully although there is a huge Garda presence with up to 700 officers on duty working alongside 250 security guards for the Irish Congress of Trade Unions.
Among the marchers there is deep anger that most of the more than €80bn (£67bn) from the EU and the International Monetary Fund will be given to shore up Ireland's ailing banks.
Marching in the rally was Irish builder Mick Wallace who has had to lay off 100 workers due to the crash in the construction industry. Wallace said it was time the Irish became more militant.
"We should be more like the French and get onto the streets more often. Because our politicians go over to Europe and tell the EU that our people do not demonstrate, they don't take to the streets. It's time we changed that and openly opposed what is going on," he said.
Placards carried by the marchers reflect the mood of anger and humiliation at having to be bailed out by the EU and IMF. One was designed to look like an estate agent's billboard and read: "3,599 square miles For Sale. Full Planning Permission Granted".
The protest has not halted at the GPO in Dublin, the scene of the 1916 rising where trade unionists and workers are denouncing the government's cost cutting programme which will take €15bn out of the Irish economy over the next four years.Read more at:
GLOBALISTS PANIC: EUROZONE ON VERGE OF COLLAPSE
For people who think they are so smart, those bankers and insatiable international thieves don't figure things out very well. We are fast approaching the time when sheer numbers can change the course they think they have set us upon. Europe, as usual, takes the trendy lead. Read on...
November 27, 2010
Growing political resistance in Ireland and Germany to handing over money to banks is forcing the ECB to buy up sovereign debt
Hyperinflation is logical result of the crumbling eurozone pyramid scheme
German economists suggest creating a eurozone with two currencies
Merkel admits that the euro collapse could spell the end of the Globalist’s European Union
There has been a massive sell off of bonds as Irish government’s chances of pushing through an IMF/EU austerity budget suffered a setback after Sinn Fein won a by-election in Donegal on Friday, shaking the faith of markets in the ability of governments to keep the euro pyramid scheme going.
In an election that could one day be seen as a turning-point in history when the Globalists and EU tide of power finally began to be turned back, Sinn Fein’s Pearse Doherty took 40 per cent of the votes, reducing the Fianna Fáil-Green party coalition’s majority to just two in the 166-seat Irish Dail or parliament and making the government reliant on two independents to pass a draconian IMF budget in a vote on December 7th unless opposition deputies vote for the budget or abstain.
But political winds will continue to blow against the banks because the ruling coalition is expected to be decimated in elections in the new year as the people of Ireland wake up to the fact that about half their tax revenue is going to be sent to overseas banks in return for nothing and for nominal paper debts.
The government is being increasingly perceived as a political oligarchy that is making the people hand over their assets to banks such as the Royal Bank of Scotland, Deutsche Bank and Hypo Real Estate under the pretext of needing to pay interest on artificially-engineered, fractional reserve property debts.
The bank-controlled IMF and EU have dictated the pace of the transfer of wealth as well as who is to have to pay most to the banks in a four-year budget due to be voted on on December 7th.
The realization that they are now serfs toiling for a colonial banking cartel, being taxed to the hilt but without any representation has sparked the biggest political storm in Ireland since the country gained its independence.
As the markets digest the fact that politics will force the European Central Bank to continue to buy bonds and prop up the Irish banks because accessing assets in Ireland and also being pooled the 720 billion euro European financial stability fund is going to be difficult, traders began a massive sell off of bonds, rushing to get out of the market before the entire euro pyramid scheme collapses.
Slovak Prime Minister Iveta Radicova poured fuel on the fire when she said that the European financial stability rescue mechanism resembles a pyramid scheme rather than a long-term solution.
“We are close to a system similar to a pyramid scheme and the moment will come when the whole system will collapse like a house of cards,” Radicova said on Wednesday.
Austria’s Der Standard said that the Euro bailout scheme is going “from bluff to bluff.”
More than the Irish crisis, the remarks of German Chancellor Angela Merkel that investors will have to accept a “haircut” unnerved banks as it became clear that they will be not able to access the substantial assets of Germany in return for their non-existent, fraudulent, fractional reserve paper debts, ensuring the imminent collapse of the euro currency.
If banks cannot unlock the assets of Germany and other countries as interest payment for their fraudulent “bonds”, the ECB will have to step in and buy up sovereign debt, cementing the awareness that servicing the eurozone debt is without any basis in real-world economics and that it really is a pyramid scheme that can now only lead to hyperinflation and the collapse of the euro currency.
Political resistance among Germans to handing over almost all their tax revenues to pay for the eurozone bailouts under a “transfer union” that even violates German laws is growing.
Kai Konrad of the Max Planck Institute calculated that the transfer union could cost Germans 260 billion euros a year: the last budget for all of Germany was 300 billion euros, according to Die Welt.
The difficulty of persuading the German people to accept this transfer of their wealth to the banks and the small group of wealthy investors behind them will only grow when they realize that banks like Hypo Real Estate have engineered those same debts through various schemes involving subsidiaries such as Depfa in Ireland.
A sufficiently strong police state is clearly not yet in place to contain the civil unrest.
The Germans' growing anger at their own government could be one reason why Bild newspaper has so far not run a campaign branding the Irish as irresponsible for asking for a bailout.
Too many people are waking up to the fact that the banks who engineered the crisis will be the only recipients of these “bailouts”; that the budget cuts are leading only to an ever deepening recession; and they are directing their anger at Berlin and the EU.
Given the fact that the Germans were never given a vote over the introduction of the euro or the Lisbon Treaty, the dawning realization among them that the European Union is, in fact, an autocratic tax collecting arm of the banks and corporations draining away all their wealth could spell the end of the Globalist’s EU project.
The euro currency looks set to collapse , fragmenting into different currencies before a transition to a new global currency run by the IMF, which already has SDR in place, can take place.
Other problems for the banks are looming with Greece. Der Standard reports that no one knows how the gigantic, fractional reserve and derivative debt burden of Greece is going to be financed after 2013 if the Germans are not going to be hoodwinked into doing it.
The Greeks are already handing over 53.5 % of their annual tax revenues to the banks to service an artificial debt, which is growing exponentially, not shrinking.
The massive flight from bonds sparked by the realisation the euro pyramid scheme is about to collapse is pushing up interest rates, but plans to double the 750 billion euro rescue fund to 1.5 trillion are just part of the bluff, notes Der Standard. Plans to introduce a Eurobond will also not go down well in Germany.
The question now is: what next?
German economist Hans-Olaf Henkel has suggested that two currency zones should be created when the euro breaks up.
However, it is clearly in the interests
of the people of all Europe to ditch the euro
and the EU altogether
and set up new national currencies,
leaving the printing of money to the government
and not booking the creation of money as debt
just as it is in the interest of the people
of the USA to regain control
of the privately owned Federal Reserve.
Tuesday, 23 November 2010
ONE WORLD COUNTDOWN TO WORLD GOVERNMENT
I rarely give orders. But if I could, I would order you all to watch this short film of dire importance. This is IT. Please give over 12 minutes to watch this and learn what is happening to us all financially. These British owned banks must be dealt with now. It is endgame. Now.Stay tuned for more.
Irish PM Dissolves Government;
Spanish Banks Face Debt Challenge;
Greece May "Shut-Down";
Meaning of "Guarantee";
Should Ireland Ditch the Euro?
Mish's Global Analysis and Trend Report
Things continue to simmer in Europe with problems appearing on multiple fronts in Ireland, Spain, Portugal, and Greece.
Things continue to simmer in Europe with problems appearing on multiple fronts in Ireland, Spain, Portugal, and Greece.
Here are a few of highlights: Irish Prime Minister Brian Cowen announced he would step down once a series of fiscal packages and budgets were in place next month; Portugal Struggles to Meet Deficit Goal; High Frequency Economics Ltd. says Greece May ‘Shut Down’ on Cash Shortage.
After a look at a few articles I take a look at suggestions for Ireland to abandon the Euro, and a critical look at the meaning of "guarantee".
The New York Times reports, Irish Leader to Dissolve Government After Budget Passes.
Prime Minister Brian Cowen said late Monday that he would step down once a series of fiscal packages and budgets were in place next month, acceding to the demands of the opposition and its coalition partner, and injecting the threat of political instability into a financial crisis that already has markets on edge.
Earlier in the day, the minority Green Party declared that the public had lost faith in the government after its acceptance of a $100 billion rescue package over the weekend and that it would pull out of the government. It called for elections early next year, when a second round of austerity measures, forced on Ireland as a condition of the bailout, will be put before voters who have already suffered through three years of recession.
Ireland faces a stark choice between accepting cutbacks in popular middle class social programs or rejecting them and jeopardizing the rescue package, which would invite default. Most analysts expect that Mr. Cowen, whatever the condition of his coalition, will be able to pass the budget — even though it will have put into law such severe measures as a decrease in the minimum wage (one of the highest in Europe) and changes to the country’s generous child benefits.
The always churning Dublin rumor mill is now in overdrive, with speculation mounting that a back bench revolt might be brewing as Fianna Fail ministers contemplate the possibility of going into a new election with a new party leader.
The 2011 budget is to be presented before the Irish parliament on Dec. 7. It will call for six billion euros in savings and will be the first major hurdle that the government must clear to prove to the European Commission and the international Monetary Fund that this recession-battered country can come together and pass brutally painful budgets.
Bloomberg reports European Banks Drop on Concern of Ireland Contagion
Bloomberg reports European Banks Drop on Concern of Ireland Contagion
European banking stocks fell, led by Bank of Ireland Plc and Banco Santander SA, on concern that countries including Portugal and Spain may need external help to fix their finances.
Bank of Ireland, the country’s largest lender, plunged 19 percent to 39 cents in Dublin trading. Santander, Spain’s biggest, dropped 4 percent to 8.19 euros in Madrid. The 53- member Bloomberg Europe Banks and Financial Services index fell 2 percent.
Credit Default Swaps Soar as Portugal Struggles to Meet Deficit Goal
Yields spreads in Portugal have declined seven consecutive days although Credit Defaults Swaps suggest a different picture as
Portugal Says Will Do Everything to Meet Deficit Goal
Portugal Says Will Do Everything to Meet Deficit Goal
Portugal will do all it can to meet its target of cutting the budget deficit to 4.6 percent of gross domestic product next year, Finance Minister Fernando Teixeira dos Santos said after Ireland became the second euro country to seek a rescue.
The yield premium that investors demand to hold Portugal’s 10-year bonds instead of German bunds narrowed to 404 basis points today, on track for a seventh straight daily decline, after a euro-era record of 484 basis points on Nov. 11. Portugal carried out its last bond sale of the year on Nov. 10 and faces its next redemption in April.
“The Irish bailout announced over the weekend will likely provide some relief to peripheral bonds, but this could be short-lived, with Portugal likely to soon return under the markets’ spotlight, as the government is finding it hard to meet its fiscal targets,” said Luigi Speranza, an economist at BNP Paribas SA in London.
Credit-default swaps tied to Portuguese debt jumped 29.5 basis points to a one-week high of 447 basis points, the biggest increase since Sept. 27, according to data provider CMA.
Portuguese Prime Minister Jose Socrates on Nov. 24 will face the country’s first joint general strike in 22 years as the two biggest labor organizations protest the austerity measures.
I concur with the assessment of Luigi Speranza who thinks any rally in bond spreads relative to Germany will be short-lived.
"Credit Negative Development" in Spain
Moody’s says Spain Banks Face Debt Challenge as ECB Cuts Cash.
Spanish banks may struggle to refinance covered bonds as the European Central Bank’s plan to reduce liquidity supports forces lenders to tap debt markets at record-high yield spreads, Moody’s Investors Service said.
The higher cost of refinancing is a “credit negative development” for covered bond issuers, “especially if the ECB pulls back its support,” Moody’s analyst Tomas Rodriguez-Vigil Junco wrote in a report today. Spanish lenders have about 70 billion euros ($96 billion) of covered bonds coming due in the next two years, the analysts wrote.
Spanish Banks rated below A1, the fifth-highest investment grade, face the biggest refinancing burden because they account for about 50 percent of the total mortgage covered bonds due next year, the Moody’s analysts wrote.
Potential "Shut-Down" in Greece
Bloomberg reports Greece May ‘Shut Down’ on Cash Shortage.
Parts of Greece’s government may be forced to “shut down” as early as next week if the country isn’t able to cover a revenue shortfall after its European Union partners delayed its next tranche of aid money, High Frequency Economics Ltd. said.
“With a big tax revenue shortfall, cash requirements are surely greater than the 6.5 billion euros ($8.95 billion) Athens was meant to receive next week,” Carl B. Weinberg, chief economist at Valhalla, New York-based High Frequency wrote in a note to clients today.
“Unless the government gets funds soon after Nov. 30, it will run out of cash,” Weinberg said. “If so, the government will have to shut down, at least in part.”
Ireland should "do an Argentina."
Dean Baker writing for the Guardian says Ireland should 'do an Argentina'
Ireland is currently experiencing a 14.1% unemployment rate. As a result of bailout conditions that will require more cuts in government spending and tax increases, the unemployment rate is almost certain to go higher. The Irish people are likely to wonder what their economy would look like if they had not been rescued.
The pain being inflicted on Ireland by the ECB/IMF is completely unnecessary. If the ECB committed itself to make loans available to Ireland at low interest rates, a mechanism entirely within its power, then Ireland would have no serious budget problem. Its huge projected deficits stem primarily from the combination of high interest costs on its debt, and the result of operating at levels of economic output that are well below full employment – both outcomes that can be pinned largely on the ECB.
It is worth remembering that Ireland's government was a model of fiscal probity prior to the economic meltdown. It had run large budget surpluses for the 5 years prior to the onset of the crisis. Ireland's problem was certainly not out of control government spending; it was a reckless banking system that fueled an enormous housing bubble. The economic wizards at the ECB and the IMF either couldn't see the bubble or didn't think it was worth mentioning.
The decision to make Ireland's workers, along with workers in Spain, Portugal, Latvia and elsewhere, pay for the recklessness of their country's bankers is entirely a political one. There is no economic imperative that says that workers must pay; this is a political decision being imposed by the ECB and IMF.
This should be a huge warning flag for progressives and, in fact, anyone who believes in democracy. If the ECB puts conditions on a rescue package, it will be very difficult for an elected government in Ireland to reverse these conditions. In other words, the issues that Ireland's voters will be able to decide are likely to be trivial in importance relative to the conditions that will be imposed by the ECB.
The other point that should be kept in mind is that even a relatively small country like Ireland has options. Specifically, they could drop out of the euro and default on their debt.
A British racist cartoon during the created Potato Famine that killed millions.
What Can't Be Paid Back, Won't
There is much more in the Guardian article regarding what went wrong in Argentina and why, and how the IMF did everything it could to sabotage Argentina. It is an interesting read well worth a look.
My only point of major disagreement is with Baker's suggestion that Ireland could drop out of the Euro. While Ireland certainly "could", such a move could also cause hyperinflation, a loss of faith in the currency.
Default is another matter. The austerity measures imposed by the IMP practically beg for default. Will the next government go along with any budget agreement Prime Minister Brian Cowen works out now?
I suspect not, nor do I think Ireland should, although they may try for a while. What can't be paid back won't. The sooner Irish citizens realize this, the better off Ireland will be.
The critical point made by Baker is "The decision to make Ireland's workers pay for the recklessness of their country's bankers is entirely a political one. There is no economic imperative that says that workers must pay; this is a political decision being imposed by the ECB and IMF."
"the minstrel shows often featured grotesque caricatures of Irish and Black men and women being sexually inappropriate, drinking excessively, joking, laughing, acting like children, being overly aggressive, just a step above animals. The Irish and blacks were often paired against each other, spurned forward by the acceptance of the dominant white culture. Here is a drawing of a black man being weighed against an Irish man and the two coming up equal."
Firepower of Stupidity
I repeat what I said in Irish Citizens Sold Down the River in "Firepower of Stupidity"
Today the Irish Government sold its citizens into debt slavery by agreeing to guarantee stupid loans made by German, British, and US banks. Those loans fueled one of the biggest property bubbles in the world. Ireland has since crashed.
Why the average Irish citizen should have to bail out foreign bondholders is beyond me, but I do note that the same happened in the US with taxpayers footing an enormous bill for Fannie Mae, Freddie Mac, and AIG.
No matter what stupid thing banks do, prime ministers and presidents are all too willing to make the average taxpayer foot the bill for the mess. That by the way, is one reason why we get into these messes in the first place.
By agreeing to take on that debt, and sticking it to the Irish taxpayers who will be forced to accept various austerity measures to pay back that debt, Irish Prime Minister Brian Cowen and Finance Minister Brian Lenihan just sold Ireland down the river.
For additional insight on how the crash affects Ireland, please see Ghost Estates and Broken Lives: the Human Cost of the Irish Crash
Ireland at Crossroads
Ireland is at a major crossroads. The fact that Irish Prime Minister Brian Cowen is willing to step down helps.
I agree that Ireland certainly needs reforms. Lowering the minimum wage will help create jobs. So will reducing benefits. Both need to happen regardless of what labour parties might think.
However the biggest job creation effort will come from Ireland telling the ECB and IMF to stuff it. There is no reason Irish citizens should have to pay back the foolish guarantees made by Brian Cowen.
Cowen will be gone soon enough, and the next PM can and should have different thoughts about the meaning of "guarantee".
German Chancellor Angela Merkel last month called for bondholders to foot more of the bill of European bailouts. I agree. It's time to hold her to her word.
Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
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Disclaimer:The content on this site is provided as general information only and should not be taken as investment advice. All site content, including advertisements, shall not be construed as a recommendation to buy or sell any security or financial instrument, or to participate in any particular trading or investment strategy. The ideas expressed on this site are solely the opinions of the author(s) and do not necessarily represent the opinions of sponsors or firms affiliated with the author(s). The author may or may not have a position in any company or advertiser referenced above. Any action that you take as a result of information, analysis, or advertisement on this site is ultimately your responsibility. Consult your investment adviser before making any investment decisions.
NOW FOR A LITTLE IRISH/BRITISH HISTORY.
THE BRITISH GENOCIDE OF THE IRISH
AND THE BATTLES OR THE IRA AGAINST IMPERIALISM.
IS THIS A CONTINUATION OF
THAT SAME STRUGGLE?
IT CERTAINLY LOOKS LIKE IT FROM WHERE I SIT.
Francis A. Boyle, a professor of International Law at the University of Illinois, finding that the British violated sections (a), (b), and (c) of Article 2 of the CPPCG and committed genocide, issued a formal legal opinion to the New Jersey Commission on Holocaust Education on May 2, 1996.
Law professor Charles E. Rice of Notre Dame University likewise issued a formal opinion, also based on Article 2, that the British had committed genocide.
Law professor Charles E. Rice of Notre Dame University likewise issued a formal opinion, also based on Article 2, that the British had committed genocide.
Professor Daniel Ritschel of the University of Maryland notes:
The most important historiographical debate revolves around the issue of British responsibility for the Famine. (4) Irish nationalist have long charged the British with the crime of genocide. Among more recent examples of such views, the New York-based Irish Famine/Genocide Committee commissioned in 1996 a report by F.A. Boyle, a law professor at the University of Illinois at Urbana-Champaign, which concluded that:
Clearly, during the years 1845 to 1850, the British government pursued a policy of mass starvation in Ireland with intent to destroy in substantial part the national, ethnic and racial group commonly known as the Irish People.... Therefore, during the years 1845 to 1850 the British government knowingly pursued a policy of mass starvation in Ireland that constituted acts of genocide against the Irish people within the meaning of Article II (c) of the 1948 [Hague] Genocide Convention.
If you want to understand the roots of the hatred between the Irish and the British, check out the great book "Paddy's Lament". Once you understand how the British treated the Irish as a sub-human species, you can start to appreciate the hatred that is seen in Belfast.
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