Comments on: Sphincter-nomics

By: ahimsa

ahimsa — Thu, 20 Jan 2011 00:54:29 +0000

months later..

Joe Higgins, Irish Socialist MEP, calls it like it is.

http://www.youtube.com/watch?v=uah_BVTmHeM&feature=player_embedded

European Commission President, José Barosso, defends european banks and international markets, lays all responsibility with Irish, Europe to the rescue.

sigh

By: William

William — Sun, 28 Nov 2010 23:43:06 +0000

Bill ,Dublin,
This bailout for Ireland is a bailout for the Euro. It keeps the Euro alive at the expense
of the Irish citizens.The bondholders are simply private gamblers in a casino betting with their own money to make even more money. I say tough,.If they back a loser then tough. They seem to be on a winner no matter what happens.Ireland has to be the first contry to stop this capitalist blackmail or we will all be burned forever. The Bondholders ,i.e ,German,British, French and others lent money to reckless Irish banks without due diligence and so be it. Tough.tough and tougher again. The Banks and the markets WILL NEVEER take away the country we enjoy and a country that we love.
We the Irish people do not owe one cent to the "PRIVATE " gamblers but We as a Nation would never default on a Sovereign debt.
The Irsh people will rise to that challenge, as always. We have a proud history of beating tough times in the past and by Jesus we will do it again. The MONEY LENDERS have to be dealth with
so that the they feel the losses when they have a "beaten docket" i.e a loser.
Yours Sincerely
Bill Copeland.

By: wirplit

wirplit — Thu, 25 Nov 2010 11:19:08 +0000

I could hardly believe it that Ireland in its attempt to cut its deficit had gone so far as to cut its minimum wage as it makes the people suffer for its banks…
but then I looked at the statistics and Lo! Ireland had the highest in the EEC apart from Luxembourg. ( Germany doesn't have a comparable one) at 1461 euros per month. In the UK its 1169. Portugal is 554 while Poland is so far down at 317. Maybe that partly explains the muted response so far in Ireland to the cuts. When they start applying the IMF medicine to Portugal for example it will be much much worse…

By: lu

lu — Wed, 24 Nov 2010 14:05:16 +0000

2pm Nov 24 2010. Xanu-FF announce Euro Bank's bail out. Irish people delighted, revolt put off.

By: adamgilbey

adamgilbey — Wed, 24 Nov 2010 13:24:12 +0000

http://tv3.ie/shows.php?request=tonightwithvincentbrowne&tv3_preview=

By: alexlondon

alexlondon — Wed, 24 Nov 2010 11:52:05 +0000

Rather than PIIGS, we should have a chronological series - how the dominoes fall - the only question really being whether all this financial mucking about can stop them falling. Not looking good so far.

G-I-P-S-I-F-UK-J-US

Reads quite nicely too. Forget "drinking the Kool Aid", we're drinking the "Gipsi Fuk Jus"! Doesn't taste very nice.

By: Urgent Marxist

Urgent Marxist — Tue, 23 Nov 2010 23:25:54 +0000

Try scraping a shaving gold off your bullion bar to pay at the greengrocers ;)

A bank has to go soon, it just a question of which one and how much collateral damage is wrought in the backdraft.

By: Dope Addict

Dope Addict — Tue, 23 Nov 2010 18:31:22 +0000

money in there pocket has no intrinsic value

This is hardly news, nor does it automatically mean that our monetary system is a ponzi scheme. Money is an abstract representation of goods & services. That's all it is. One can fashion a ponzi scheme using money but, as you say, money itself has no intrinsic properties. Its value is whatever people agree it is.

If a bank or a country uses the cash form to manipulate the value of goods & services this says nothing about the intrinsic value of money.

You can choose to trade in cash representations of goods & services, or metal representations of good & services. It's up to you. But if you want to accumulate wealth or maintain what you already have, you'd do better to hold something of value to everyone, like land. You can at least grow food on land.

Just as there's nothing intrinsically special about money, there's nothing special about gold, either. If people won't exchange it for something you need, it's worthless.

By: Tam

Tam — Tue, 23 Nov 2010 15:42:35 +0000

@Sean

'And of course I keep the larder full and the cellar topped up.'

Sounds like all all Golem's blog followers would do well to invite themselves round to Sean's gaff when the apocalypse arrives..

(yes, I know I've got too much spare time today...)

By: Sean

Sean — Tue, 23 Nov 2010 15:22:44 +0000

Ive took all my money out of Banks years ago, its good to see you Guardianistas catching up!

Gold and copper seem to be a better store for my labour. And of course I keep the larder full and the cellar topped up.

I dont think you have all really grasped the nettle as yet, yup cdos ect are a big pile of bull, but they are a product of the fractional reserve banking system and fiat money which is a big pile of bull and is a ponzi scheme initself.

And as for those govt pensions you guardian readers (sorry cant help myself today) so love are also a great big ponzi. But hey the unborn do not vote.

Whenever I talk to ordinary folk, if there is such a thing and try to explain the them that the money in there pocket has no intrinsic value or that when they hand over their money to the bank it legally does not belong to then AND they then take it round the back and and a multiplier to the cash, they look at me as if I have just come from the planet ZOG. And they are right too its a mad system.

FFS, All the Irish banks passed the ECBs stress test in July..if you are looking for fraud I would start there.

http://www.irishtimes.com/newspaper/breaking/2010/0723/breaking13.html

And now Irish Democracy whats left of it is being shafted by the Euros telling them when and if they can have elections(not in so many words, but read between the lines)

If you really wont to bring this issue to a head and confront the politicians and bankers I suggest you lobby Irish Mps and get them to vote against the upcoming budget, not mess about trying to take little bits of cash of the the cash machine.

Nice site of Cdos here.
http://www.mortgagerates.info/dyk/cdos/

IF you take these figures out of the 8 Trillion US housing bubble you are still left with a 6 and half trillion bubble.

I am with Dean Baker on this one, Ireland should rebel and rebel right now!

http://www.guardian.co.uk/commentisfree/cifamerica/2010/nov/22/ecb-ireland-bailout-argentina