Rothschilds controlling NAMA?

My prediction is within 10 years the IMF will be in Ireland sorting out our budget, because there is not a snowballs chance in hell that NAMA will work.

It is created to protect the vested interests of the powerful few who fooked this country up with the property bubble. Its ludicrous. It has been suggested that all property prices have to do is rise by 10% in the next 10 years for NAMA to work, apart from the fact that isn't true, thats not going to happen. Unless of course the government has an interest in artificially inflating the house prices...

I'll go into more technical detail about why I think NAMA definitely won't work in its current form and why I think its criminal etc. in another post tomorrow, bit tired now.

Also it pisses me off how most people seem more worried about headshops than the fact that the government is gambling not only ours, but our children, and probably grandchildrens future on this ****ty plan.(Why won't somebody think of the children!!:pac:)

If anyone wants a good place to read about NAMA, I'd suggest reading Gurdygiev(definitely spellt wrong) a lecturer from UCD stuff about it, its pretty good.

EDIT: Also, just about the bubble in general I think this graph is an accurate reflection on where we've been and where we are headed.


Here's the actual graph. I reckon, we're either in the bull trap, or the return to normal part of the above schematic.

My name is URL wrote: »

The bailing out of fat-cats is necessary if the country is to be bailed out unfortunately. They've done the damage and everyone knows that, and we'll all hopefully refuse to put up with the obvious over-zealous use of credit in future..

NAMA is there to 'buy back' assets from the private sector at a time when the private sector is unable to make those assets pay for themselves. In time the situation will improve and the assets now managed by the state will go towards helping that improvement develop into growth.. if it's done right

Keep drinking that cool aid your on and live in la la land and wake up in the horror story when you been scammed

NAMA is a SCAM

Simple the property NAMA needs to buy was bought by the banks for example
~2 Billion Euros (of the total 165 Billions Euros in total involved )
NAMA will value it at possibily as low as 50% of its original value fork out 1 Billion for the property using tax payers money
They say in the future the property will increase in value to ~75% of the original price or about 1.5 Billion Euros and the tax payers will gain 0.5 Billion profit

The reality is best case is the property is really worth ~0.6 billion euro so we will pay 0.4 Billion Euro more than it was worth

Then the issue is the time span for the assumed rise of the property is 10 years and even if the property sld at 75% of it value the cost to borrow the 1 Billion Euro will eat up most of this assumed profit

The reality is when the property is worth ~30% of it original value in ten years time the tax payers stiffed for 0.4 bilion will also pay the interest on this loan which could easily be another 1 billion

So we might endup paying more than ~ 1.4 Billion for stuff that is worth ~0.6 Billion
If the total the tax payer after ten years forks out is more than ~2 Billion Euros for this crap property the banks will be laughing all the way to the banks big fat bonus pay cheques:pac:
singing "BANKERS SCAM PAY WONDERFULLY"

If we assume that is the case for all the 165 Billion on the line we could end up as tax payers owiing more than 165 Billion for stuff that is worth less than 55 Billion

The great great grandchildren will still be paying for that mistake and COWEN will go down in History as the biggest edit that sold Ireland out for a bankers song and allowed the Rotchilds to take over the Republic worse than the English crown ever did

But you can be sure most all the polititions who voted in the NAMA SCAM in ten years from now will get thier rewards in secret bank accounts in the CAMEN ISLANDS:pac:

I figure the lawns of Leinster house are not big eneough to stack the condemend

Here is the more technical explanation of the numbers involved
http://thestory.ie/2009/12/08/nama-and-risk-reports/
and they say the property is worth 30% of its original purchase price

thestory.ie wrote:

Given the perilous state of Irish economy, and the extent of the property-related exposure for Irish banks we see as reasonable (or potentially even generous) a 45-50% average recovery rate on the stressed loans. This implies that the expected final losses on the entire 6-banks pool of €165bn in property exposure (ex-Poland) will be closer to 25-30%, or €50bn. For anyone who thinks that this figure is unrealistic, a recent McKinsey study showed, that out of $2 trillion of impaired assets the eventual writedowns may total $1.5 trillion or 67%.

WE need to convert into Icelanders LOGIC ASAP and say "NO" we the people did not vote for this scam and then we throw out the regime of leechers and let them pay for it from thier pockets

Ball aprk if we get stiffed with NAMA for 165 Billion Euros thats extra dept to the tune 40,000 per head or 120,000 per average family and factor in Interest in that and we could be staring easily a person dept of ~ 120,000 and ~ 500,000 euro per family .
Thats all dept you and your family could owe in 2020 before you buy or rent a car or house to live in

It will probaly take three years for NAM to totoally get going and we can expect the banks to keep things proped up until 2012 to 2013 so it looks like NAMA wasnt so bad
Then Expect the Rotchilds Bankers to pull the plug on the bath water when NAMA is well and truely used up and a new Regime is in power and they can balme the Cowen regime for the mess but wew the tax payer will get it in the neck

If we allow NAMA to get going we are TOTALY FOOKED

Derry

Mahatma coat wrote: »

;)D:D:D:D


Really is a sad day for the world when people Actually WANT to live here in Brisneyland

Next thing ya know they'll be Talkin up Rockhampton :eek:

I have a secure job here, but was offered a similar one in Australia, and although I have family and friends here, I'm considering taking it, because I reckon by the time my kids(if I have any) grow up Ireland will be a 3rd world country.

Oh Yeah, Movin to QLD Still wont get you away from the Rothschilds, Who do you think is Purported to be Railroading Advising the State government to Sell off its Profitable Assets