Today, Monday 20th February 2012, AIB pays an unsecured bond of £750,000,000, which translates to approx. €911,300,000. There are those who say that the bank bonds payments is a dead issue, that it doesn't matter anymore; almost a billion euro going from an Irish bank to a British financial institution at a time when our economy is going through the floor, when Irish business is crying out for investment the banks can't afford to offer - that doesn't matter? €19bn in bank bonds leaving our economy this year, €55bn leaving over the next four years, that doesn't matter? What's left in the Irish banking system to invest in Irish business?
While that money is going out our overseer government will be carrying out the orders of our new slavemasters the ECB/EU/IMF troika and bringing in austerity budgets combining increased taxation/spending cuts of €3.8bn (2012), €3.5bn (2013), €3.1bn (2014), €2bn (2015) - we're going to GROW our way out of this mess? Oh, AND we're going to destroy €3.1bn every March 1st?
Comical Kenny and Happy Gilmore fiddle on...
Sunday, 19 February 2012
Monday, 13 February 2012
The Dirty Dozen w/e Feb 19th 2012
The next 12 on a long list. On Wednesday Anglo will pay €2.3m, Bank of Ireland will pay €271.6m; next Monday AIB coughs up €864.6m, all unsecured bonds. If those latter two big bonds were from Anglo there would be more outcry, but where do you think BoI and AIB will get those funds, from whom? Yes, they're making money for jam now on the ECB's latest inter-banking scam, but much of the cash for these bonds is coming from the overcharged Irish public, much also from the 'injection' of billions from the Irish exchequer. Please - Anglo is by far the most toxic, but directly or indirectly, ALL these banks are giving our money to their failed bondholders; we should protest every cent.
Monday, 6 February 2012
The Dirty Dozen w/e Feb 12th 2012
All I'm showing here are the next 12 bonds that will be paid out by the Irish banks; the complete list would simply swamp people, over 300 bonds yet to be paid, totalling €55bn for the years 2012/13/14/15. Again I ask - from where will this money come?
Those banks do have many of our billions still in their coffers, and the easy money they're going to make from the ECB's 'Longer Term Refinancing Operation' con-job will also help their balance sheet (banks across Europe get money from the ECB at 1%, with which they purchase various government bonds paying 6% - and who do you think is going to foot THAT bank-profit bill?), as will the extra they get from refusing to pass on the ECB base lending rate cuts, but €55bn in four years? They'll be back to us, begging bowls out yet again.
Next bond up is €20m today, Monday, unsecured, from EBS; that will be paid without a single remark from any of our media, as was another €20m unsecured bond from Anglo on Friday last, even as pressure is put on every government department to find savings of a million here, a million there. Is it just too much hard work for our media generals to try and understand what's happening?
Those banks do have many of our billions still in their coffers, and the easy money they're going to make from the ECB's 'Longer Term Refinancing Operation' con-job will also help their balance sheet (banks across Europe get money from the ECB at 1%, with which they purchase various government bonds paying 6% - and who do you think is going to foot THAT bank-profit bill?), as will the extra they get from refusing to pass on the ECB base lending rate cuts, but €55bn in four years? They'll be back to us, begging bowls out yet again.
Next bond up is €20m today, Monday, unsecured, from EBS; that will be paid without a single remark from any of our media, as was another €20m unsecured bond from Anglo on Friday last, even as pressure is put on every government department to find savings of a million here, a million there. Is it just too much hard work for our media generals to try and understand what's happening?
Sunday, 29 January 2012
The Dirty Dozen w/e Feb 5th 2012
You know what really amazes/maddens me? Last week our national media made a great song-and-dance about the €1.25bn unsecured Anglo bond, but ignored completely the fact that on the Monday, Anglo also paid an unsecured bond of €30.7m. I mean, we couldn't do with that €30.7m for ourselves?
Coming up this Friday, another unsecured Anglo bond, this one for €20m, and an equally unsecured €20m from EBS. The Ballyhea/Charleville weekly protest, which last Sunday marched for the 47th week, isn't about one or two big bonds, it's about all the bonds, the big and the small, it's about the Promissory Notes, it's about resisting this very basic injustice that's being visited on Ireland on an ongoing basis.
The world of finance knows this debt isn't ours but the ECB can say to our government, 'Pay this money or else', the implied threat - according to Minister Leo Varadkar - being that if we don't, a bomb (metaphorically speaking, we all hope) will go off in Dublin. By any measure, that's extortion, and with menace. Forget all the side-issues - resist this crime against the people of this country, expose it for what it is.
Coming up this Friday, another unsecured Anglo bond, this one for €20m, and an equally unsecured €20m from EBS. The Ballyhea/Charleville weekly protest, which last Sunday marched for the 47th week, isn't about one or two big bonds, it's about all the bonds, the big and the small, it's about the Promissory Notes, it's about resisting this very basic injustice that's being visited on Ireland on an ongoing basis.
The world of finance knows this debt isn't ours but the ECB can say to our government, 'Pay this money or else', the implied threat - according to Minister Leo Varadkar - being that if we don't, a bomb (metaphorically speaking, we all hope) will go off in Dublin. By any measure, that's extortion, and with menace. Forget all the side-issues - resist this crime against the people of this country, expose it for what it is.
Monday, 23 January 2012
The Dirty Dozen w/e Jan 29th 2012
One year ago every Fine Gael and Labour TD proclaimed that it was wrong to pay these failed private bank bonds, accusations of treachery and treason against Fianna Fáil; today we have Leo Varadker, Eamon Gilmore, Brendan Howlin and company telling us that not only is it the right thing to do, it's the ONLY thing to do.
A person of strong principle and conviction will not be easily persuaded that wrong is right - what does this tell us then about all those politicians? A few will make their weasly two-sides-of-the-mouth comments but not one government TD will stand four-square with the people against the ECB on this issue, not one man or woman of principle, not one with strong convictions.
This Wednesdday we will pay the famous €1.25bn Anglo bond (details here - http://namawinelake.wordpress.com/2012/01/22/black-wednesday-the-payment-by-ireland-of-e1250m-to-anglo-bondholders/); for 46 weeks and counting, in Ballyhea and Charleville we've been protesting the payment of ALL these bonds. Sure, that's an obscene sum on Wed, but what of the two bonds being paid today, both unsecured? Nearly €31m by Anglo, how much good would that do in this country today?
Anyway, here they are, this week's dirty dozen. Enjoy.
A person of strong principle and conviction will not be easily persuaded that wrong is right - what does this tell us then about all those politicians? A few will make their weasly two-sides-of-the-mouth comments but not one government TD will stand four-square with the people against the ECB on this issue, not one man or woman of principle, not one with strong convictions.
This Wednesdday we will pay the famous €1.25bn Anglo bond (details here - http://namawinelake.wordpress.com/2012/01/22/black-wednesday-the-payment-by-ireland-of-e1250m-to-anglo-bondholders/); for 46 weeks and counting, in Ballyhea and Charleville we've been protesting the payment of ALL these bonds. Sure, that's an obscene sum on Wed, but what of the two bonds being paid today, both unsecured? Nearly €31m by Anglo, how much good would that do in this country today?
Anyway, here they are, this week's dirty dozen. Enjoy.
Thursday, 12 January 2012
The Dirty Dozen w/e Jan 22nd 2012
No change this week, except 'the big one' - Anglo on Jan 25th, €1.25bn unsecured - is that bit closer. I urge you though - look also at the other bonds, at the last two in the new dozen in particular. Two unsecured bonds, one from AIB, the other Bank of Ireland, and coming to over another €1bn between them. These payments are killing Irish banks, and by extension killing Irish business, which by extension again is killing all growth and with it, our chances of getting out of this hole.
Sunday, 8 January 2012
The Dirty Dozen w/e Jan 15th 2012
No change in the dirty dozen for this week but money does begin to change hands in the coming days, starting with a couple of Irish Life & Permanent bonds this Wednesday, one for €8m, the other for a mere €3 - sure what would that get you these days? A few of our senior citizens kept comfortable, who gives a damn about that?
Then there's the €1bn Anglo bond on Jan 22nd, the even more substantial €1.25bn from the same zombie bank three days later, but sure look, if the choice is between paying these failed private bonds or imposing greater and greater pain on everyone in this society, well, there's only one answer really, isn't there?
Then there's the €1bn Anglo bond on Jan 22nd, the even more substantial €1.25bn from the same zombie bank three days later, but sure look, if the choice is between paying these failed private bonds or imposing greater and greater pain on everyone in this society, well, there's only one answer really, isn't there?
Subscribe to:
Posts (Atom)