I am so sorry your very first post got bumped into spam. It sometimes seem to happen with first posts and I don't know how to stop it.

THANK YOU for your very kind comment. PLEASE consider posting again.

I am sure I speak for everyone here when I saty we would value your thoughts and stories from where you live. I should have checked earlier and if I had I woud have found your post sooner. I was away and got back to find leaks in my roof. That's my excuse and I'm sticking to it. We do need tostick together and work out between us a new and honest assessment of our situation and our desires both individually and collectively . We can do it. i believe we have already started to do it here in these pages. I am glad you have joined us and can add your thoughts to ours.

It's not that hard is it. And it's a good way to keep the hockey stick going. I think it's funny that your bubble can only burst after we stop their silly games.

So the holders of Senior unsecured debt could mount a legal challenge to block the restructuring or ensure that deposit holders lose out too which is politically unfeasible.

Through which court's jurisdiction this would happen is a mystery and the Zerohedge guys think the legal narrative will be the new form of misdirection to deflect public anger away from the likes of Goldman et al.

As you keep saying Golem, the sovereignity of a nation resides in it's people, not it's Government or in Brussels or in a court. If the people of Ireland can raise their voices over the din of obfuscatory yammering from the financial-political classes then they're perfectly entitled to tell the bond holders to feck off.

As far as I know, there are no legal reasons. Any there may be in Ireland's case would NOT be due to the nature of a standard bond contract but due to some made-on-purpose extra agreement Ireland's politicians intentionally agreed with the bond holders specifically to make sure the Irish people could not protect themselves.

Are you now or have you ever been in the past a polyglot? Do you now or have you ever in the past knowlingly associated with polyglots?

Γεια, είμαι ευτυχής να ακούσω τις σκέψεις σας στους τραπεζίτες βαμπίρ στη γλώσσα σας και να τις μεταφράσω. Ένας κόσμος. Μια αγάπη.

Hallo, bin ich glücklich, Ihre Gedanken auf den Vampirbankern in Ihrer Sprache zu hören und sie zu übersetzen. Eine Welt. Eine Liebe.

Bonjour, je suis heureux d'entendre vos pensées sur les banquiers de vampire dans votre langue et de les traduire. Un monde. Un amour.

Ciao, sono felice di sentire i vostri pensieri sui banchieri del vampiro nella vostra lingua e di tradurrli. Un mondo. Un amore.

Dia duit, Tá áthas orm a chloisteáil do smaointe maidir le baincéirí na vampire i do theanga agus iad a aistriú. Amháin domhan. Amháin grá.

hi hpy2ear ur
thtz n vmpire
bnkrs n ur
lngage n
trnsl8
1 wrld 1 lv

I'm curious as to what legal reasons exist regarding burning the bondholders. I am operating under the assumption that when the crash hit, the Irish govt said "we'll guarantee everyone's (bondholders') money."

I can't imagine this took the form of a written contract. Therefore I'd be suspicious of those claiming "legal reasons." Seems perfectly legitimate to me if the govt decided "you know what, we've decided we're not going to cover your debts. Sorry."

Though perhaps they're referring to the agreement with the ECB & IMF, in which case they'd just have to default & tell those bodies to eff themselves, if they wanted to burn anyone.

I'm guessing the 3 (?) major political parties in Ireland are all banding together so that voters don't have a choice between a party that wants to pay & a party that promises not to pay.

I am an IT contractor for one of the Big Four in the U.S. who has been doing everything possible over the last year to secure a full time position with said institution. After hearing your voice (among others including Yves Smith, William K. Black, etc.) I am seriously reconsidering that decision. It's so difficult to balance job security and looking out for myself and my family with my conscience which tells me that this is NOT An institution that I want to be associated with.

I also purchased my first home in 2006, at the height of the bubble, with a "responsible" 30-year fixed loan, though it was 100% financed. The house has since lost over 30% of it's value ($60,000) and it is simply not large enough to raise a family in. As a result, and I thank you and others for helping me see the big picture, I stopped paying my mortgage several months ago and am waiting out the foreclosure process. I have never used credit cards and, in fact, the only credit I've used in my life was to secure the loan for my home! Good riddance I say… We will stay here as long as we can, until we are forced to leave, at which point we will rent a bigger place for less money. Maybe eventually we will save up enough to purchase a home in cash, but I will never again borrow money.

This is a tumultuous and frightening time. On the plus side, we don't need much to be happy, and we have very little to our names that we fear to lose. As long as we have each other, a warm place to live, and food to eat, maybe a deck of cards and a cribbage board, we will find a way to be happy. I have a strong IT skill set that employers seem to value, so my hope is that no matter what happens, barring a complete collapse of technology and infrastructure, I will remain employable and will be able to provide for my family.

Working for one of the big four and being right in the heart of the real estate crisis makes everything you write incredibly relevant to my life. Your words are like an oasis in a desert of misinformation, crony-ism, and those taking advantage of the very real fear and anger that anyone who is paying attention to feels.

The things that set you apart are your articulateness, your humility, your passion, your COMPASSION, as well as the wonderful audience that you have garnered that come together to discuss and debate, and with whom you actively engage.

All that is to say – thank you. Your words are heard and they make a difference. I am so happy to hear that your readership has increased, as it is absolutely deserved. I hope that others out there like me will post and tell you their stories, as we are all alone out here and trying to do the best we can for our families in a scary world that seems so stacked against us.

Especially Germany and France.

Maybe there's another GolemXIV out there blogging in Hungarian…