NAMA and John O'Donoghue

dermo88

There is something in Indonesian culture called a "Wayang Kulit". It translates literally as "Shadow play"

Now, Indonesians love to complain about corruption in their developing nation. But meanwhile, in a nation that claimed to be the wealthiest in the world, second to Luxembourg, an even bigger shadow play now takes place.

The speaker in the Parliament, called Ceann Comhairle in Dail Eireann, has been found to be excessively claiming expenses.

Frankly speaking, were I to engage in the equivalent with my employer, I would wear the famous designer shoes of the Robert Mac Alpine brand. They are unique in that people (apparently) pay, or repay good money NOT to wear them, for they are made of concrete.

Meanwhile Irish people are up in arms over the expense claims by the Ceann Comhairle.

Bad as it is, it is......a distraction from the real issue.

A Guarantee to the Banks of 490,000,000,000 Euro.

What on earth is that. In the bad days in the 1980's, we talked of problems in the hundreds of Millions, in Irish Pounds, or Sterling. NOW....Hundreds of Billions.

Politely, wait for the censorship.

What the **** is 490 BILLION ****ING EURO when its at home.

Its 120 Billion Pints of Guinness on draught at the average Irish pub. Enough to keep every man woman and child on the planet pissed drunk at Irish Prices for a week.

So tonight I will run the truth, and I shall be proven right.

Are you patriotic?

Don't be, for money is the greatest whore on the planet.

I say no more and no less. Get your money out of Ireland if you have more than 10,000 Euro in there. Get out, get out now.

Lenihans guarantee expires in September 2010.

You need only look at what happened in Argentina in 1999-2002.

(a) Phase one.

Argentina pegged their Peso at 1-1 to the US Dollar. It was chronically overvalued.

(b) Phase two.

Deflation

Argentina had no comprehension of falling prices, or their local currency RISING in value.

(c) Phase three.

Local currencies reintroduced, in the provinces, as they could not pay in pegged Argentine Pesos at 1-1 US Dollar.

(d) Phase four.

Restrictions on withdrawals from ATM's.

(e) Phase five.

Reality bit, and the Peso devalued 300%. It is now A$3,80 to US$1,00, instead of the old 1-1 rate.

What does Ireland have in common. Irish people would like to claim, "Nothing at all", but the reality is harsh. Here it is"

(a) Civil servants paid 25% more than the tax paying private sector.
(b) A populist government, playing the same style of divisive politics as General Peron and his whore wife Evita. Just ask any Argentine what they think of them both, and its not much, if they are from the tax paying productive people, who are far worse and more snobbish than any Ross O Carroll Kelly types in Ireland. I suppose a murder or two outside Annabels is in order, but they'll get bailed out easily, unlike their normal counterparts from Dublin 24 who get stitched up on a smaller charge for a lot less.
(c) A currency and a people demanding Swiss or Scandinavian standards and wages, but wanting to pay third world prices.
(d) A people getting third world standards at Swiss prices.

Something has to give, and this is what happens next.

(a) A parallel non International traded currency is introduced for internal trade. Just look at what has happened to the Icelandic Krona, or even the Malaysian Ringgit in the wake of their crises. Neither currency is now traded Internationally.
(b) This is used to pay Social Welfare, Civil Servants and taxes..
(c) Following Greshams Law in that bad money drives out good, this drives out circulating Euro in the Republic of Ireland. You need only look at how quickly Sterling notes disappeared from regular circulation in 1979 when the Irish Pound, AKA Charlie Haugheys Peso, even though Sterling was hardly anything special at that time either.
(d) Restrictions on withdrawals from Bank Accounts via ATM imposed, at EUR1,500 maximum per month, after the guarantee expires in 2010.

Am I doom mongering? Should I commit suicide? But consider this, can you find 150 ounces of Gold per person in Ireland right now to pay off the mess?

Answers on a postcard please.

lmimmfn

we just need over 40,000Euro worth of gold per person

I think your theory is far fetched, however NAMA will destroy this country for the next 20 years if it passes, they say we have no alternative but there are always alternatives. The people of Ireland have 0 responsibility in bailing out banks and developers, why it was even considered is an absolute disgrace.

For the moment there shouldnt be any reason to move your money, but that may change in a few years time when we have insane taxes to pay off NAMA, with very little consumer spending due to everyone being crippled financially resulting in more and more job losses.

Maybe the whole country going bankrupt will be a good thing for our country? if we cant pay the public service surely its size will be reduced without unions complaining and moaning and striking all the time?

NewDubliner

lmimmfn wrote: »

Maybe the whole country going bankrupt will be a good thing for our country?

When you go bankrupt, the vultures move in. Do you know what that means?

Long Onion

dermo88 wrote: »

Its 120 Billion Pints of Guinness on draught at the average Irish pub. Enough to keep every man woman and child on the planet pissed drunk at Irish Prices for a week.

Oh my sweet God NO! NAMA is going to stop the country getting drunk for one whole week! Oh the humanity ... :rolleyes:

dermo88 wrote: »

You need only look at what happened in Argentina in 1999-2002.

(a) Phase one.

Argentina pegged their Peso at 1-1 to the US Dollar. It was chronically overvalued.

(b) Phase two.

Deflation

Argentina had no comprehension of falling prices, or their local currency RISING in value.

(c) Phase three.

Local currencies reintroduced, in the provinces, as they could not pay in pegged Argentine Pesos at 1-1 US Dollar.

(d) Phase four.

Restrictions on withdrawals from ATM's.

(e) Phase five.

Reality bit, and the Peso devalued 300%. It is now A$3,80 to US$1,00, instead of the old 1-1 rate.

Sh1t folks, we should immediately re-value the punt in case this happens to us ... ummm ... oh yeah ... :rolleyes:

dermo88 wrote: »

Am I doom mongering?

Yes

dermo88 wrote: »

Should I commit suicide?

Best ask Darwin

dermo88 wrote: »

But consider this, can you find 150 ounces of Gold per person in Ireland right now to pay off the mess?

Outside speaker connections and teeth, Gold has no more intrinsic value than money so what is your point?

Stark

Long Onion wrote: »

dermo88 wrote:

Should I commit suicide?

Best ask Darwin

Or Bertie.

RGDATA!

NewDubliner wrote: »

When you go bankrupt, the vultures move in. Do you know what that means?

might be more helpful to people if you spell out what you mean instead of using metaphors.