Friday, 6 May 2011

Beware - Starving Beast lashes out

Irelands public debt now stands at €120,000 per worker, a staggering figure. Instead of growing the economy organically, they rushed into Europe and the Eurozone, binged on "new found wealth" that never existed in the first place and declared themselves "Celtic Tigers".

In a VERY sinister move, the Irish government has decided that rather than simply default and upset the private bondholders (banks, hedge funds) that it owes, it will raid the private pensions and savings of Irish citizens instead.

Iceland understood that the money owed by Icelandic banks was not the responsibility of Icelands citizens and refused to cover the debts of speculators. Iceland is free of the European Central Bank and diktats from the EU to behave. Ireland is not. The Irish States greed to control the banking sector has enslaved the Irish the very banks it sought to control. Banks that are STILL leaking money like a sieve. And the ever more impoverished citizens of Eire are being dragged through bankruptcy to ensure that the European Central Bank and following list of creditors get their money if necessary by outright theft of private savings and pensions.

The drunken landlord of the Shamrock Inn is raiding the pockets of his customers at gunpoint to pay back the loansharks he paid to renovate the beer garden. Europe demanding that Irish taxpayers pump yet more into the banks owing them money is like the Bank of England demanding that the debts of Northern rock be covered by Newcastle Council taxpayers.

I wish them well with that. Greece IS about to default, causing a Portuguese and Spanish crisis that will cripple the Germans and very possibly end the Eurozone as we know it. Ireland needs to tell it's State to stop throwing good money after bad and simply hold up it's hands and go back to digging potatoes.

I urge you to read an excellent evaluation of the situation by Morgan Kelly in the Irish Times.

There are only two types of people in Ireland. Geniuses and EEjets. Time to get rid of the EEjets that signed up for slavery to a banking cartel

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