New Irish Banking Crisis on the way, AIB in trouble.

skimpydoo · 12-04-2013 02:15AM #1

Max Keiser has something that won't be mentioned by the Irish media. Be very afraid. At 12:45 in the video we get shocking news on AIB.

shedweller · 12-04-2013 02:52AM

"Cyprused"

Love it!

I remember when i was an aib customer and they installed these stupid "airlocks" to get in and out of the premises. I was intrigued enough to ask yer one behind the desk what they were for. I asked her were they to keep customers out or robbers out. Of course she said they were to keep robbers out but now i'm beginning to think they will do a damn good job keeping customers out when a run on aib looks likely.
Having said that, all the big players will have exited stage left by then, just like the big players did in Cyprus and joe soap is left picking up the tab.

Same as it ever was.

12-04-2013 03:01AM

shedweller wrote: »

i'm beginning to think they will do a damn good job keeping customers out when a run on aib looks likely.

Or they could just, I dunno, lock a door?

General General · 12-04-2013 03:25AM

Still waiting for Silver to hit $100 an ounce.

Cavehill Red · 12-04-2013 03:36AM

An official investigation found that the silver market on the COMEX (where silver and gold is traded) is being manipulated by a massive short position held almost entirely by JP Morgan. But the investigation also concluded that no law had been broken :eek: and therefore it will be allowed to continue.
Silver occurs naturally in the Earth at a rate of about four times as common as gold, which is c. 60 times the price and is also likely having its price manipulated, according to research by people like GATA (who are obviously not disinterested parties, but that doesn't mean their research isn't rigorous.) Silver is also used up in industrial use at a much higher rate than many other metals, including rare earths, and is only mined these days as a side product produced by copper mines and the like.
Even if silver were not a monetary investment, its true price ought to be a lot higher than it is, and it would be were it not for the manipulation of a flood of paper silver estimated at 100 times the amount of actual silver in existence.
So Keiser's analysis isn't wrong. Silver will inevitably hit $100 per ounce, and possibly even after a parabolic rise which could happen quite quickly if the market manipulation factor was resolved, either (unlikely) via legislation, or else by a sudden demand for delivery on silver contracts that exposes the fractional leverage of paper silver.

wonderfullife · 12-04-2013 03:41AM

17:34 onwards

Well said that man!!

You have several levels of capital structure in a bank. You have depositors on the bottom who don't think of themselves as investors, who avail of bank services for a very very low risk for a very small return on storage of their capital. Then you have Junior and Senior Bondholders who assume risk voluntarily in exchange for a materially higher return than the depositors. Then higher again on the hierarchy you have the Equity stakeholders who assume even more risk for presumably an even higher return.

I believe you should wipe out all investors who (voluntarily) assume risk if a bank goes bust - as that's what you assume risk for (the bank going bust or it doing well).

wonderfullife · 12-04-2013 03:44AM

Actually that whole segment on the Irish banks is terrific, well worth the watch. The dude explains it pretty well in lay man terms.

charlemont · 12-04-2013 03:48AM

The "I love to pay my household tax, property tax, water tax, because I'm a sucker" brigade will be creaming their pants with excitement at this news..

Bail-out 2, Because we love getting fúcked so much, Lets get ****ed again..Hooray !!

I love how the presenter disses RTÉ as complacent in financial terrorism, Another reason not to contribute TV license money..

wonderfullife · 12-04-2013 04:07AM

His point at the end is also very well made.

That if Ireland goes down the Cyprus road and whips money out of our accounts to bail out those eejits who ran AIB, Anglo and the rest into the ground, it's got to change the very concept of banking. Who the fcuk will want to put money in a bank for sh1te interest rates if there's a risk of those shenanigans!!

Or to quote the man himself:

there's just not enough fools out there to do that. There's plenty of fools who will do it but not enough to capitalise a bank

At times like these i feel a whole lot better about being broke

Chucken · 12-04-2013 04:07AM

Timothy Maxwell "Max" Keiser is an American broadcaster and film-maker.

I'll be afraid :rolleyes:

wonderfullife · 12-04-2013 04:11AM

Chucken wrote: »

Timothy Maxwell "Max" Keiser is an American broadcaster and film-maker.

I'll be afraid :rolleyes:

He may very well be..... but the dude commentating on our banking seems to know his stuff :rolleyes:

http://en.wikipedia.org/wiki/Reggie_Middleton

mikom · 12-04-2013 04:11AM

The government sycophants will be at their desks at about 8.00 or 9.00.
Expect their replies on this thread to start appearing around then.

wonderfullife · 12-04-2013 04:18AM

charlemont wrote: »

The "I love to pay my household tax, property tax, water tax, because I'm a sucker" brigade will be creaming their pants with excitement at this news..

Bail-out 2, Because we love getting fúcked so much, Lets get ****ed again..Hooray !!

I love how the presenter disses RTÉ as complacent in financial terrorism, Another reason not to contribute TV license money..

....glad you have your back-story ready for when they come knocking

12-04-2013 04:24AM

This post has one purpose & one purpose alone.

To scare people into a bank run.

Get f*cked OP.

SeanW · 12-04-2013 04:29AM

If I was with AIB (and not broke lol) I'd be getting my money the f*** out and putting it into something else. The Eurocrats and our own worthless political class have made it clear that the ordinary people must pay 100% of the cost of any bank problems. In Ireland they dumped loans onto the government (i.e. the taxpayer) to pay every bond 100c to the Euro, in Cyprus they couldn't do that so they just declared "bank holidays" and imposed a "tax" on bank savings ...

kneemos · 12-04-2013 04:33AM

Every financial comentator fancies themselves as fortune tellers these days I have yet to hear of one of them being right in their dire predictions.

SeanW · 12-04-2013 04:34AM

Deleted User wrote: »

This post has one purpose & one purpose alone.

To scare people into a bank run.

Get f*cked OP.

The government/central bank is supposed to prevent bank runs by ensuring that deposits or safe or providing deposit insurance to RETAIL customers, hence no need for a panic withdrawl. Ensuring the liquidity of the banks was the central reason for setting up Central Banks in the firstplace, the reason for founding, for example, the Federal Reserve "System" in the U.S. whereas before the Treasury simply printed specie claim notes to gold, and gold/silver coins (an arrangement IMO that was far superior to the paper money of today).

But what we now have from our political overlords is a situation where bondholders are a sacred cow and now, retail depositors are on the hook for bank failures.

In fact IIRC one of those Eurocrats in Brussels stated explicity that retail deposits are no longer safe in the case of banks needing to be recapitalised. That should be a warning to people not only to investigate the soundness of the banks before opening an account or adding funds to it, but more crucially, when to get money out before the SHTF, as it was alleged German etc. banksters did with Cyprus.

wonderfullife · 12-04-2013 04:34AM

Deleted User wrote: »

This post has one purpose & one purpose alone.

To scare people into a bank run.

Get f*cked OP.

430am is an early start for a bit of AIB over-time.

wonderfullife · 12-04-2013 04:41AM

kneemos wrote: »

Every financial comentator fancies themselves as fortune tellers these days I have yet to hear of one of them being right in their dire predictions.

True but throw enough darts at a dart board and you'll hit the Bullseye sooner or later. And this guy Hamilton seems to hit the bull more than most.

Bottom line, State guarantee on deposits is not worth the paper it's written on. By that i mean they will, of course, do everything they can to uphold their 'word' but if it's Bust or Backtrack, i'm pretty sure they'll shoot for backtrack.

wonderfullife · 12-04-2013 04:54AM

mikemac1 wrote: »

In 2008 Joe Duffy started a mini bank run

http://www.independent.ie/business/irish/lenihan-lash-at-joe-duffy-banks-panic-26478869.html

The only source on this thread is a random blogger who has 3,000 subscribers and wants more

I would highly doubt his target audience is Boards.ie or anybody in this country, mind you.

Also, a way to boost a reputation is to make more correct calls and predictions. He doesn't have the traction, name or personality to generate a run on a bank to fulfill his own prophecy either.

So he'll either be right or wrong, but someone with no vested interest making these sort of predictions is someone i'd listen to.

Anyway he made 12 minutes of banking jargon seem pretty interesting so he gets a thumbs up from me.

starviewadams · 12-04-2013 04:54AM

AIB have been found to be telling fibs in regards to the financial reports they filed by this American lad.

Continue believing the shíte RTE feed you when the banks have another 'liquidity crisis',just don't complain when 40-60% of your deposits are gone to pay some millionaires in the US or Germany.

Zebra3 · 12-04-2013 06:04AM

Did somebody mention AIB? Bailout? FG/Lab govt?

http://www.rte.ie/player/ie/show/10129323/

kneemos · 12-04-2013 06:50AM

It would be a suicide mission for any government to even mention touching depositors money.

Solair · 12-04-2013 07:07AM

mikom wrote: »

The government sycophants will be at their desks at about 8.00 or 9.00.
Expect their replies on this thread to start appearing around then.

You mean 9:30!

Three Seasons · 12-04-2013 07:09AM

kneemos wrote: »

Every financial comentator fancies themselves as fortune tellers these days I have yet to hear of one of them being right in their dire predictions.

Morgan Kelly was pretty much bang on back in 2006. Read his articles back then.

Nino Brown · 12-04-2013 07:32AM

kneemos wrote: »

Every financial comentator fancies themselves as fortune tellers these days I have yet to hear of one of them being right in their dire predictions.

http://www.youtube.com/watch?v=2I0QN-FYkpw

galwayrush · 12-04-2013 07:42AM

A.I.B. were bailed out in the past.
No need to panic, the high end of their salary / pension scale won't be affected
by their performance.

12-04-2013 07:47AM

kneemos wrote: »

Every financial commentator fancies themselves as fortune tellers these days I have yet to hear of one of them being right in their dire predictions.

Many financial commentators are only only towing the official line of their paymasters, it's the independent ones who are often more outspoken as they work for themselves.

Cody Pomeray · 12-04-2013 08:03AM

SeanW wrote: »

In Ireland they dumped loans onto the government (i.e. the taxpayer) to pay every bond 100c to the Euro

There is a problem here.

The Troika came to Ireland in November 2010. Our crisis began in earnest in September 2008.

In those two years, we

guaranteed the entire structure of liabilities in Irish banks on behalf of the state, with no EU involvement
made whole every senior creditor with a claim on Irish banks, again, when the EU had no say on this

Yes, we know the troika were opposed to "bailing in" the senior bondholders. But how can you claim that it was forced on Ireland by the troika, when we had being doing it for over 2 years? It looks like we were both reading of the same hymn sheet.

starviewadams wrote: »

AIB have been found to be telling fibs in regards to the financial reports they filed by this American lad.

Not There are two ways of reading the (very clumsy) wording.

"certain Eligible Securities" can mean the same thing as "each of the segregated securities" if you take "certain" to be a term denoting those securities which are Eligible as collateral for ECB funds.

I'm not sure why we should want to read it in a negative way when there is a far more boring, unremarkable explanation.

smash · 12-04-2013 08:08AM

Solair wrote: »

You mean 9:30!

I think he means 'psychopaths' too.

Cody Pomeray · 12-04-2013 08:19AM

Deleted User wrote: »

Many financial commentators are only only towing the official line of their paymasters, it's the independent ones who are often more outspoken as they work for themselves.

On the other hand, if you work for yourself, your income depends on publicity. I have a lot of respect for Reggie Middleton's originality, but his ignoring the unremarkable version of the explanation for the wording suggests a case of publicity hunting.

New Irish Banking Crisis on the way, AIB in trouble.

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