irish central bank reprinting punt notes in case of euro collapse

emmet the rover

have heard it from two diffrent sources within the broad bank sector. any taughts.
from what i understand there are several legal hurdles to overcome before the reinstatment of ourown currency both irish and euopean. but its a intresting idea to discuss

Cavehill Red

emmet the rover wrote: »

have heard it from two diffrent sources within the broad bank sector. any taughts.
from what i understand there are several legal hurdles to overcome before the reinstatment of ourown currency both irish and euopean. but its a intresting idea to discuss

Been denied in an answer to a parliamentary question last month.

SafeSurfer

Cavehill Red wrote: »

Been denied in an answer to a parliamentary question last month.

It was denied the notes were being printed in Ireland.

jc84

No harm having a contingency plan, would be very smart idea and probably won't be needed but with the way things are going the euro could collapse without any warning

delta_bravo

Here's my thought: it's bullish*t

emmet the rover

thats why i posted it in this section

Cavehill Red

SafeSurfer wrote: »

It was denied the notes were being printed in Ireland.

No, I'm pretty sure it was outright denied. Our notes and coins tend to come from abroad in any case.

SafeSurfer

Cavehill Red wrote: »

No, I'm pretty sure it was outright denied. Our notes and coins tend to come from abroad in any case.

Mr Fleming asked Mr Noonan "when the Irish Central Bank last printed Irish punts currency; and if he will make a statement on the matter".

In response, Mr Noonan said: "Irish pound bank notes were last produced in 2001. Euro notes and coins came into circulation on January 1, 2002. Irish pound bank notes ceased to be legal tender on 9 February, 2002."

http://www.independent.ie/national-news/state-denies-rumour-it-is-printing-the-punt-again-2886886.html

emmet the rover

the same way there was no bailout from the imf despite there members being in dublin. until the goverment admitted there was a bailout.

sorry if i dont believe the irish goverment

MarkR

These are not the coins you are looking for. *twiddles fingers*

mikom

SafeSurfer wrote: »

Mr Fleming asked Mr Noonan "when the Irish Central Bank last printed Irish punts currency; and if he will make a statement on the matter".

In response, Mr Noonan said: "Irish pound bank notes were last produced in 2001. Euro notes and coins came into circulation on January 1, 2002. Irish pound bank notes ceased to be legal tender on 9 February, 2002."

Fast forward a few months and a new currency is released, but not called punts........... probably more like Cunts.

meglome

My take on it...

People with an agenda are pushing the idea internationally, that the Euro is on the way out.
There would need to be quite a number of people in on it and we're not known for keeping secrets - but there's not one smidgen of evidence.
Even if the Euro was fukked there would be no need to print new currency in advance. (And we're far from the collapse of the Euro)

The Outside Agency

There are many investors who can make money from a loss of a confidence in the euro.

There are also many more who will benefit from the new bailout package currently being prepared by EU ministers.

The bailout package will get passed, wallstreet will get their usual bonuses, we'll kick the can down the road for another 2-3 years and see the cost of living spiral upward while wages continue to decrease.

Governments will say they can't afford to fund education, health and other services while continuing to sell off state assets to foreign investors that we bailed out.

Call me a doomer but overall, nothing is going to improve until people take the power of issuing money back from banks, bankers are destroying people for their own greed.

"Well, first of all, the Federal Reserve is an independent agency and there is no other agency of government which can overrule actions that we take." - Alan Greenspan

Duke Leonal Felmet

emmet the rover wrote: »

have heard it from two diffrent sources within the broad bank sector. any taughts.
from what i understand there are several legal hurdles to overcome before the reinstatment of ourown currency both irish and euopean. but its a intresting idea to discuss

What does 'within the broad bank sector' mean?

Are they caterers in the staff canteen?

fontanalis

emmet the rover wrote: »

the same way there was no bailout from the imf despite there members being in dublin. until the goverment admitted there was a bailout.

sorry if i dont believe the irish goverment

Sorry if I don't believe the equivelant of an email forward.

Jeboa Safari

How long would it take to print enough new currency for Ireland anyway?

SafeSurfer

The way pay packets are going about 45 minutes.

UBd

two shopkeepers in the southeast quoted "pence" to me last week...

"that'll be seventy two pence please"

all those in favour say aye


Aye

WakeUp

I was told about this a few months ago and posted it another thread in CT's. The notes have already been printed and some banks already have them. I think there is something to this story.

Duke Leonal Felmet

WakeUp wrote: »

I was told about this a few months ago and posted it another thread in CT's. The notes have already been printed and some banks already have them. I think there is something to this story.

Any evidence, other than hearsay?

meglome

WakeUp wrote: »

I was told about this a few months ago and posted it another thread in CT's. The notes have already been printed and some banks already have them. I think there is something to this story.

Is this going to be like pretty much every single last thing we're told in here is going to happen imminently? (i.e it didn't/doesn't happen)

meglome

meglome wrote: »

Is this going to be like pretty much every single last thing we're told in here is going to happen imminently? (i.e it didn't/doesn't happen)

Hey remember all those worse, non-specific, crashes that were coming?
Wasn't the last one meant to be in march?

And then there was something that was supposed to happen last month, which might have been a comet...

And a while ago there was all those forced vaccinations we'd be getting, or being shot for not getting...
Or before that when the swine flu mutated in the Ukraine and was going to kill us all while the elite had the real vaccines...
Or before that when the swine flu was the depopulation plan finally being enacted...
or before that when the swine flu was going to wipe out all the Mexicans

Oh and then there was the European superstate and conscription that the Lisbon treaty was meant to bring us...

And before that I think it was a comet again...

I really should go make a list.

Duke Leonal Felmet

King Mob wrote: »

meglome wrote: »

Is this going to be like pretty much every single last thing we're told in here is going to happen imminently? (i.e it didn't/doesn't happen)

Hey remember all those worse, non-specific, crashes that were coming?
Wasn't the last one meant to be in march?

And then there was something that was supposed to happen last month, which might have been a comet...

And a while ago there was all those forced vaccinations we'd be getting, or being shot for not getting...
Or before that when the swine flu mutated in the Ukraine and was going to kill us all while the elite had the real vaccines...
Or before that when the swine flu was the depopulation plan finally being enacted...
or before that when the swine flu was going to wipe out all the Mexicans

Oh and then there was the European superstate and conscription that the Lisbon treaty was meant to bring us...

And before that I think it was a comet again...

I really should go make a list.

Please do, I could do with a lift this morning!

Monty Burnz

WakeUp wrote: »

I was told about this a few months ago and posted it another thread in CT's. The notes have already been printed and some banks already have them. I think there is something to this story.

There's no way in hell this could be kept quiet. Not a hope. So it's just not true.

Duke Leonal Felmet

Monty Burnz wrote: »

WakeUp wrote: »

I was told about this a few months ago and posted it another thread in CT's. The notes have already been printed and some banks already have them. I think there is something to this story.

There's no way in hell this could be kept quiet. Not a hope. So it's just not true.

Not if they were printed on UFOs!

jackiebaron

WakeUp wrote: »

I was told about this a few months ago and posted it another thread in CT's. The notes have already been printed and some banks already have them. I think there is something to this story.

Told by whom? Can anyone provide any solid evidence? This is not like moving statues or UFOs. Surely if they are printing someone must know something. But in all honesty how long would you need to print enough new "punts" to put into circulation for the first few days should a changeover occur? A week or two? ... the majority of money doesn't physically exist anyway, it's just columns in a spreadsheet or digits in a database.

Duke Leonal Felmet

A mate of mine told me that the central bank are not printing Irish Punt notes and coins.

I reckon there is something to this.

Monty Burnz

Duke Leonal Felmet wrote: »

A mate of mine told me that the central bank are not printing Irish Punt notes and coins.

I reckon there is something to this.

PROOF!

jargon buster

What difference does it make what notes you are using?
The notes are only worth what people believe they are worth, thats how money works.
if the Euro fails then any punts are going to be worth exactly the same as a failed Euro.

Any punts coming onto the open stock exchange will have to be valued against another currency to give them value and as they can only replace the Euro then they will be worthless.

Duke Leonal Felmet

jargon buster wrote: »

What difference does it make what notes you are using?
The notes are only worth what people believe they are worth, thats how money works.
if the Euro fails then any punts are going to be worth exactly the same as a failed Euro.

Any punts coming onto the open stock exchange will have to be valued against another currency to give them value and as they can only replace the Euro then they will be worthless.

Why do you assume a floating punt?

How is the value of a floating currency calculated, in your world?

jargon buster

Why print punts , why not use shirt buttons or shells off the beach?

Duke Leonal Felmet

jargon buster wrote: »

Why print punts , why not use shirt buttons or shells off the beach?

An ingenious sidestep. By the way, some cultures do use such mediums of exchange.

jargon buster

Some cultures do use alternatives as a medium of exchange however they may have issus trading with other countries, do you envisage Ireland being its own little entity?

Without the currency being backed by other countries belief in its value then that exactly what they will end up as.

In fact I have printed off some of my own currency, do you want some in exchange for your house, I will give you a good deal.

Duke Leonal Felmet

jargon buster wrote: »

Some cultures do use alternatives as a medium of exchange however they may have issus trading with other countries, do you envisage Ireland being its own little entity?

Without the currency being backed by other countries belief in its value then that exactly what they will end up as.

In fact I have printed off some of my own currency, do you want some in exchange for your house, I will give you a good deal.

Having fun with that strawman?

You still haven't addressed a single question I put to you. I wouldn't dare assume that you don't have a clue about economics, so I presume you are cooking up something good.

Any time now.

jargon buster

Why do you assume a floating punt?

Because Ireland currently has one in the Euro, so the assumtion is a replacement would do the same.
Care to enlighten me as to the alternative?

How is the value of a floating currency calculated, in your world?

Supply and demand.

riposte

I don't know whether they are printing punts or not ........ but the euro is doomed. The Irish Government has made every other Conceivable mistake so ........ not having a plan B would be par for the course.

Duke Leonal Felmet

jargon buster wrote: »

Why do you assume a floating punt?

Because Ireland currently has one in the Euro, so the assumtion is a replacement would do the same.
Care to enlighten me as to the alternative?

How is the value of a floating currency calculated, in your world?

Supply and demand.

1) A fixed exchange rate mechanism, like the punt was for the vast majority of its existence. Christ, even a lazy Google would have told you that. Oh, and let's not forget that the Irish Pound is still pegged to the Euro, where €1 = £0.787564.

2) Hell of an answer. It's as if I asked you to describe how a satelitte enters the atmosphere and crashes to Earth, and you respond with 'gravity'.

Look, I don't need you to explain it to me, because I know that you don't know, and because I spend 1/6 of my life so far learning why currencies change, and now it is pretty much what I do as a job now. I just wanted everyone else here to see that you were talking drivel, and I have acheived that.

Thanks.

jargon buster

If you just wanted to measure dicks then you should have just said so.
Supply and demand is how all currencies work isnt it?
If people lose faith in a currency then how much is it worth?
My point remains, it matters not if you wish to use punts or Euros, if the markets/people accept it as value then you are OK if not then you are screwed.

As long as you got your little ego boost then thats fine.
I would need an ego boost if I spent a 6th of my life wasting time number crunching.

Duke Leonal Felmet

so guys will we have Irish Punts in our wallets in the forseeable future?

Definitely.

fontanalis

Duke Leonal Felmet wrote: »

A mate of mine told me that the central bank are not printing Irish Punt notes and coins.

I reckon there is something to this.

Are you Ali G, and is your mate called Dave?

jargon buster

DLF wrote with regards the punt being in wallets in the foreseeable future

Definitely.

To coin a phrase:
Any evidence, other than hearsay?

rmacm

jargon buster wrote: »

To coin a phrase:
Any evidence, other than hearsay?

There isn't because people who throw around these rumours either believe almost everything they read or hear on conspiracy theory websites without any thought or they have a vested interest in seeing the Euro collapse.

Duke Leonal Felmet

jargon buster wrote: »

DLF wrote with regards the punt being in wallets in the foreseeable future

Definitely.

To coin a phrase:
Any evidence, other than hearsay?

Can you not tell I'm taking the mick? You seem to take everything really literal. Worryingly so.

Duke Leonal Felmet

fontanalis wrote: »

Duke Leonal Felmet wrote: »

A mate of mine told me that the central bank are not printing Irish Punt notes and coins.

I reckon there is something to this.

Are you Ali G, and is your mate called Dave?

No. No, I am not.

jargon buster

Can you not tell I'm taking the mick? You seem to take everything really literal. Worryingly so.

Well seeing as you have added nothing to this thread in the way of anything constructive apart from trying to pretend you knew something about economics I would consider your presence here nothing more than trolling.

great to see you being honest about it though :rolleyes:

Duke Leonal Felmet

jargon buster wrote: »

Can you not tell I'm taking the mick? You seem to take everything really literal. Worryingly so.

Well seeing as you have added nothing to this thread in the way of anything constructive apart from trying to pretend you knew something about economics I would consider your presence here nothing more than trolling.

great to see you being honest about it though :rolleyes:

No back-seat modding, my boy.

Like I said, I already demonsrated your complete lack of knowledge in something that you feebly attempted to have some authority in. I'm content with that.

If anyone is ready to produce some evidence other than opinion or hearsay on this printing of punts story, I'd say we can safely consider it to be horse****. My work here is done. Toodle-oo!

:-)

jargon buster

Like I said, I already demonsrated your complete lack of knowledge in something that you feebly attempted to have some authority in. I'm content with that.

..by doing a google search?
Trying to prove someone has a lack of knowledge in something is not exactly proving you are well versed in the subject matter is it?
You have as yet provided nothing at all constructive to this thread apart from trying to pick holes in other people.
You still havent disproved my "supply and demand" comment although you po pooed it.

I sense you are simply a "google search" expert although if you produced something worthwhile to discuss you could prove me wrong.

OwlsZat

I also heard that notes were indeed being printed.

However this decision to comission the required presses to be made would have been a big money decision. I really doubt we could spare the wonga with the IMF practically running the show.

meditraitor

A very reliable friend of mine says we are going to join the UK, a printing press in Norn Irn is working on pounds with Martin McGuinesses head on one side and the queen on the other.

OwlsZat

Than god your friend is reliable, I would have been sceptical otherwise!

kerry365

We want to be careful here. Up to now we have always been in the dark so nothing new about these 'punts' and who can blame us for speculating. What may happen is that Europe devalue the Irish Euro - call it the new worthless Euro (or the Punt) and just come along and say (for example to make calculation easy) your Irish Euro is now worth half its value and you have to live with it. .. the other 50% will go towards our huge debt we owe Europe. Same treatment for Greece....Like something you could only dream up.....