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Austerity and what your Government Should be doing for You


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If all nations are in debt and all citizens are to be forced into lifelong austerity to pay off “their” creditors then the most important question in the world becomes:
Identifying the creditors and asking why they have precedence over the  lives of people who did not create this problem.

 Think clearly about this for a moment

Austerity” means your lives and your  children’s lives will be less free for decades. Since all nations are “in debt” then their must at its core  a group of private creditors benefiting from this situation.
Government’s everywhere have the moral right as representatives of the people to weigh and balance private citizens rights against those of a small minority of other citizens. . It is moral and right for the governments to identify the core group of private people hiding behind all the debt shell entities who are supposedly “owed” money by these countries citizens.Those citizens likely never voted for the debts anyway.

Austerity for millions is not an acceptable situation for for the ordinary Citizen why should he  recognize, take on the ill borrowed, non voted, “debts”  of others . Why is it the  politicians serve the interests of the  “creditors” rather than the people they are purported to represent.
Millions of people should not be forced into a lifelong form of loss of freedom (which is what “Austerity” really means on an individual level for each citizen) as a result of putting false debts unto the backs of their governments.

So folks time to get off your ass and make your Government work for you

The banker’s guide to owning it all……………


1. Become majority lender in an economy of people with assets you want.

2. Encourage indebtedness by loaning generously while securing on assets of interest.

3. Loosen lending standards until the assets you seek to capture are attached.

(this makes the economy debt dependent)

4. Once debts are significant for the bulk of the population, sharply tighten lending standards. <– Economic shock – Onset of deflation

5. Backstop losses with public guarantees if possible. This is gravy if one can get it.

(Fannie and Freddie guarantees, for example)

6. Permit default ‘without risk’ on the assets you wish to seize to maximize wealth transfer.

(Stall foreclosure, stay repossession orders etc

7. Stall the economy to maximize default positions and deplete private liquidity. <– We are here

8. Successively ratchet the economy downhill, while bettering secured positions.

9. In a series of large actions, seize all security for default. Target the assets of greatest interest first.

(This deals a heavy economic blow and can help cause the ratcheting required for step 8.)

10. Transfer asset ownership, but retain prior owners as renters where possible.

(This reduces public lashback and helps maintain the asset for resale)

11. Once the bulk of assets of transferred, write them down to leverage the public financial backstop.

12. Buy up as many remaining assets on the cheap as possible. Hide this action.

13. Hyper inflate to destroy the external claims on wealth. <– Onset of hyperinflation

(This destroys treasuries, gov’t bonds, currency. Ensures free title on new assets. May cause war.)

14. Stabilize the currency or devise a new one, resume lending at a reasonable pace. Sell the assets back, secured of course, at your chosen price in new currency.

Hyperinflation is only a risk to the wealthy if the population has the assets.

Make note of that statement. It is key to timing the shift from deflation to hyperinflation.

via The banker’s guide to owning it all…………… | Awaken Longford.

via The banker’s guide to owning it all…………… | Awaken Longford.

Public not liable for massive debt


A letter to the Independent that is worth reprinting- short, concise and to the point

Between them Sean Dunne, Sean Quinn and Bernard McNamara have managed to run up debts of over €3bn. By some crazy notion we, the public, are being told we are to pay these debts back to the people that the above people got the money from.

The logic to this is way beyond my comprehension. How we even manage to discuss such a ridiculous scenario is way beyond me.

We, the public, have absolutely nothing to do with these debts – and the sooner we tell the people who loaned this money to the likes of the Seans and Bernards, the quicker we can get our lives back to where we can look forward and not be stuck in this cloud of negativity and depression.

David Hennessy,

Broomhall Business Park,

Rathnew, Co Wicklow

via Public not liable for massive debt – Independent.ie.

via Public not liable for massive debt – Independent.ie.

Four years of crisis, and still no clear deal on mortgage debt


MAYBE THE LOW turnout in the children’s referendum is not that surprising. There comes a time when people – having been respectful, patient and tolerant – have to say enough. We as citizens are taking a significant amount of pain for the wrongdoing of banks, bankers and regulators. When a government cannot mobilise its people to vote for child protection , maybe – just maybe – the biggest alarm should go off.

ranslate what the bank is offering you – no advice, just translation. MABS provides an excellent service but that’s because their staff are dedicated and trusted by the public, not because of the leadership shown by the minister or the Citizens Information Board. Only creditors including banks have benefited from this inaction.

Insolvency Bill

Now we are given the Insolvency Bill, which is being promoted as our saviour. Vested interests both politically and professionally will welcome the Bill, but its extremely difficult for debtors to achieve any real protection within the Bill. The banks have a veto and there is no independent oversight of the decisions a bank might make. As a senior figure in the Central Bank has suggested, banks are like teenagers. I say it might not be advisable to leave teenagers in a free house unsupervised.

This Bill will also promote the tiering of debtors, where professional insolvency practitioners will naturally select those who can pay for insolvency services and leave those who cannot to fend for themselves. As currently presented, in order to apply for bankruptcy you will have to jump over more hurdles than there are in an Olympic race track.

There is a need for expert assistance to be available to mortgage holders to ensure their interests are protected in relation to dealing with banks and other creditors. The failure of Government and banks to deal with this crisis has made a difficult situation becoming close to unmanageable. With figures for the third quarter due out soon showing those in arrears the time has come for action.

I with others who feel equally strongly are working through a new organisation the Irish Mortgage Holders Organisation to advocate on behalf of debtors, to work to bring long term solutions and systems  to over indebtedness and to allow this great country move forward.

David Hall was one of the co-founders of New Beginning in 2010. In July 2012, David and other concerned citizens established the Irish Mortgage Holders Organisation (IMHO) to help consumers tackle the increasing burden of personal debt. In addition to IMHO, David owns and runs Lifeline Ambulance Service. David also founded the Make-A-Wish Foundation in 1992.

via Column: Four years of crisis, and still no clear deal on mortgage debt.

via Four years of crisis, and still no clear deal on mortgage debt.

Noonan Letting the Cat Out of the Bag


The statement today by the minister for finance, Michael Noonan, calling on the European Central Bank to make a “declaration of intent” about some kind of solution in relation to the Anglo-Irish Bank promissory notes is a clear sign of desperation by a government that has neither the political will nor the courage to challenge this illegitimate and odious anti-people debt dumped on the backs of our people.

The Irish establishment has been claiming almost every time they come back from these jamborees that they have struck a deal; but no sooner have they their backsides back in their Mercs than their “deal” unravels.

This is the first time that any Irish minister has publicly admitted that there is strong link between the government’s budget strategy and the repayments of this odious debt. This he did when he stated: “It would help me doing the budgetary arithmetic if something could be arranged” in relation to the promissory notes.

The sick, the poor, pensioners, those who need and use government services and all working people are paying and will increasingly pay an unbearable price for a debt that is not the people’s. Our people are being crucified to pay the debts of bankers and speculators and to keep the EU and Irish elite in the wealthy life-style they believe is theirs by right.

There is no shortage of capital in Europe: it is estimated that nearly €3 trillion is accumulated within the EU that cannot be invested do to the fact that there are to few investment opportunities outside of financial speculation. All this unused capital is in the hands of the very same banks and speculators that demand the payment of this odious debt.

How can the Labour Party stand over massive cuts in spending while making the people pay for this corporate debt. �What we need from this government is a declaration of intent to stop paying this debt, to repudiate it as an anti-democratic imposition on our people by the external troika in co-operation with our own internal troika.

via Irish Left Review | Noonan Letting the Cat Out of the Bag.

via Irish Left Review | Noonan Letting the Cat Out of the Bag.

Nama to repay Euro seven point five billion Euro by the end of next year


The Boss of NAMA Brendan McDonagh said the agency was in a strong cash position and that additional debt repayment was likely before the end of 2012.

“This is a commitment under the country’s agreement with the troika and is important in terms of investor perceptions of Ireland,” Mr. McDonagh said.

Ireland’s beleaguered construction sector represented just six per cent of the entire value to the economy last year, compared with 23pc during the heady days of the building boom in 2006.

This is €7.5bn of Irish bank debt going to pay international banks in the main German for losses incurred by Anglo and other banks.

If these foreign banks lost the money through bad deals, should we be handing over this money to them?

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