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Sunday, November 21, 2010

The death of the Irish Republic

Well, the traitors have managed to achieve the death of the Irish Republic tonight.

It was done without a shot fired in anger. Perhaps some shots should be fired in anger. After all, so many people have died on this island for so much less.

The world is talking about Ireland being 'bailed out.' I took a call from an elderly relative tonight, joking about tapping me for a loan, since Ireland is obviously now swimming in EU and IMF euros.

The world, and more importantly the Irish victims, clearly have no idea what is really going on. It's quite simple, quite dastardly and quite horrific.

Two Irish banks, run and operated by corrupt bankers, borrowed billions from European banks and billionaires like Roman Abramovich and lent the money out to property developers in Ireland and elsewhere.

Those property developers fuelled a property bubble, assisted by their pet politicians in Fianna Fail, and are now largely going bankrupt, with only unfinished houses to offer in repayment of their loans.

So the Irish banks have no money coming in from the developers. And their big depositors are worried about their viability, so they have taken their money in recent weeks and shifted it elsewhere. Now the Irish banks have next to nothing to pay off the billionaires with.

Except a foolish government guarantee, provided by the Fianna Fail crooks who have long been the developers' proxies in power. That irrational, illegal guarantee holds that the Irish taxpayer will repay any debt owed by these corrupt banks.

The billionaires want their billions back. They gambled and they lost, on a speculative market. But when you're hyperrich, you don't ever lose. You just change the game until you win again. And that's what they have done. The bank's bondholders pressurised Ireland and Europe to ensure that those debts would be repaid.

At the end of the line is the Irish taxpayer, who has received nothing tonight. Rather, the Irish taxpayer now owes 80 billion euro that they didn't owe before. That money will come from Europe to Ireland and be owed by Ireland to Europe. But Ireland won't see a penny of it.

Instead, it will go to the banks who will give it back to the billionaires.

And we will be paying off those debts for the next two decades.

This, in short, is corporate welfare gone mad. It is treason, conducted by the government on the people of Ireland for the benefit of foreign billionaires. A side-effect is that the country will now effectively be run by Brussels. The Euro-state begins here.

So for anyone languishing under the delusion that Ireland received anything tonight, let's be clear, all Ireland got was a debt that it didn't accrue. All Ireland got was the blame for bankers' mistakes. All Ireland got was the removal of its sovereignty.

It's a times like these that I get nostalgic for the paramilitaries that plagued my youth in Northern Ireland. If ever there was need of them, it is now.

Listen to how a nation dies today:


Peter Slattery said...

Excellent post. The situation is absolutely insane.

The Shaved Ape said...

It's sad and pathetic. Are there any countries with responsible governments?

vamvax said...

This is the death of all Republics, not only the Irish one.
What we all live, i think, is an economical word war (the first). Our only chance is to stand together: All the people on this planet...

I live in the g of the "piigs"...

JC Skinner said...

We hear too much about PIIGS and nowhere near enough about market vulture CUNTs - Corrupt Unelected Nation-destroying Terrorists that they are.