January 9, 2014

Why are we applauding ourselves for borrowing to live like Germans?

Posted in Banks · 238 comments ·

THE “red eye” flight, 7am Dublin to Dusseldorf, is half-empty. You can sense from the resigned, matter-of-fact way most of the passengers behave, that the people — mainly men — are veterans of this route. However, Irish business people in Germany are still a rare enough breed.

Like many German cities, Dusseldorf has plenty of hidden gems but, like much of Germany, it is an undiscovered part of the world for most Irish people. Indeed, the blind spot towards Germany is odd, given our politicians put so much faith in the political class of the Federal Republic.

Few Irish people visit Germany each year. Fewer than 7,000 students learn German in school and beyond Bayern Munich, Mercedes and a few other car brands, not many of us could name many modern German institutions.

That said, the future of Ireland is intertwined with the future of Germany to such an extent that their Bundestag gets a butcher’s at our budget before the Dail does.

As the EI 692 got blown around the place by the tail end of Hurricane Christine, the morning’s papers are full of backslapping over the NTMA borrowing again this week. To the rational person, such celebrating must seem quite extraordinary. It is as if the newspapers are living in some bizarre parallel universe where not being able to pay your bills is a good thing — something to be cheered.

Let’s be clear: the reason that the country is borrowing again is that we can’t pay our way.

In its most simple terms, borrowing to run the country — after five years of austerity — means we still yearn for a lifestyle we can’t afford. Rather than adjust to our means and adopt a lifestyle we can afford, we rent a lifestyle we can’t.

When seen from a relative country perspective, we covet a German lifestyle but as we can’t earn this lifestyle, we lease it.

But who do we lease it from? We lease it from those who are prepared to lend to us, at a reasonable, indeed, very low interest rate of 3.3pc.

If others are prepared to lend to us, surely we have become a better credit and this is a sign of success?

Well, yes and no.

Yes, in the sense that Ireland is seen, by the international markets, as a very low risk. No, in the sense that there is no fundamental economic reason for Ireland to be seen as low risk.

As risk reduces, so does the interest rate that a country must pay on its IOUs. Normally, interest rates fall because the overall debt burden has fallen. This makes perfect sense because as the debt burden falls, there is less of an onus on the debtor (in this case the country) to come up with money to pay the creditor every year. The debtor’s balance sheet is therefore improving.

So interest rates should fall in response to falls in the overall debt burden. The debt burden falls if the growth rate in income improves because debt is always expressed as a percentage of income. If income rises, the ratio of debt to income falls. Unfortunately, this has not happened in Ireland. In fact the debt-to-income ratio has got worse, not better. Look at the chart, which I swiped from the website of the Nobel prize-winning economist Paul Krugman.

Figure 1: Getting worse quicker!

The State of the euro

What we can see is that Irish interest rates have fallen — which is good; during a period when the actual public debt has risen — which is bad.

This development makes no financial sense.

However, it is what is happening all over Europe. Again look at the chart. We see that as debts have got worse, interest rates have fallen. How could this be that interest rates are falling at a time when debts are rising? The only way to explain this is that ultimately someone else is going to pay our debts. There can be no other explanation, or at least, this is what financial markets think.

But who could be that buyer of last resort?

I was thinking about this question as we landed, passed through customs and drove out on to the Autobahn. Sitting in the lovely “Zum Golderen Einhorn” cafe in Dusseldorf’s old town, the answer to the question comes. Of course, the buyers of last resort must be these people all around me. These industrious, frugal Germans might not realise it yet, but the people who are lending money to Ireland think that, at the end of the day, these Germans will pay the bill.

HOW otherwise could Ireland’s debts be still rising but our interest rate on that debt be falling? If the Irish growth rate was taking off like a rocket, maybe growth would reduce the debt, but this isn’t likely to happen. At best, growth will still be about half the 3.3pc rate of interest on the new IOUs.

Has anyone told them that they are on the hook to pay for a lifestyle that the Irish, Spanish and others want but can’t afford?

And what if they say no?

The last few months of coalition building in Germany have been one long argument about, amongst other things, how to ringfence the German taxpayer from the bills of the periphery. Despite the fact that the German politicians — right and left — are adamant they will not pay, the financial markets are behaving as if the redoubtable Germans will eventually stump up.

If they do not, there will be a massive bond crisis in Europe and Ireland is likely to be in the firing line. My guess is that the ECB will start buying bonds this year in order to save the Germans the strain, but this too is up in the air.

As for Ireland celebrating the fact that we are getting more in debt, it reminds me of a day in my local in 2005 when a developer was buying drinks for his mates to celebrate the fact the banks had lent him, that day, some unfeasible amount to buy some site or other. We know how that story ended.

On the day the Irish establishment celebrates more and more borrowing, do you think I should share my 2005 story with the German woman enjoying a coffee at the next table?


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  1. Austerity, The History Of A Dangerous Idea


    Since the better part of 6 years I am studying the economical, political and historical aspects of this so called “crisis”, I prefer the term global heist. Studying both fractions, leaving out the conspiracy bull, from the academic world, I finally came to ask a simple question:

    “What is the real reason for the ongoing austerity ponzi scheme propaganda?”

    Here is an answer that I consider the most plausible.

    Warning: This is a Mark Blyth lecture, hence you have to be capable of following scottish high speed accent, but it is worth every minute to concentrate!

    My favorite quote from this, as usual highly entertaining lecture, is when he asked about what happend to the biritish economy from 1850-1914 with a debt to GDP ratio of 240%:

    “They ran the whole damn world, Reinhard/Rogoff …95%…. MY ARSE!”




    On Mark Blyth:

    Mark Blyth is professor of international political economy at Brown University. He is based in the Department of Political Science, but his research begs and borrows from multiple fields. He is particularly interested in how uncertainty and randomness impact complex systems, particularly economic systems. He was a member of the Warwick Commission on International Financial Reform that made a case for macro-prudential regulation. He is the author of Great Transformations: Economic Ideas and Institutional Change in the Twentieth Century (Cambridge: Cambridge University Press 2002), and most recently, Austerity: The History of a Dangerous Idea (Oxford University Press 2013). His academic writings have appeared in such places as the American Political Science Review, the Review of International Political Economy, and the Journal of Evolutionary Economics, while his more popular writings have appeared in Foreign Affairs and Foreign Policy magazine.

  2. Oh , and David, another qoute from the above video: “The ECB is a faked central bank!”…precisely!

    • Dorothy Jones

      Gruess dich Georg: apropo ECB, Karlsruhe ruling on OMT’s is due this summer

      • Hi Doro :)

        Yeah, I know, but what do you expect?

        20 years ago, the Maastricht ruling, they already undermined their very own democratic institutional position. Ever since, show me a single ruling that was not in the sprit of “Yes….BUT.”

        In my view this court has practiced nothting but constant perversion of justice….Rechtsbeugung.

  3. michaelcoughlan


    Maybe Gunther and his Frau will pay in a way you don’t expect. If Ireland closes the gap between income and expenditure to less than 3% the politics changes on favour of us. In otherwords if the fine jailers decide to tell the European banks that the game is up an a lot of the parked debt HAS to be written off as you have said all along Ireland will be able to borrow in the markets as they will view us as low risk because 1) we will be paying our way 2) the legacy debt is written off 3) McWilliams has always said markets are forward looking.

    The losses will hit german banks and fall on Gunther and his frau in extra taxes to pay for the losses. It’s time for them too to take 6 years of pain for the destruction THEIR banks have visited upon THEIR Country.



  4. Yeah, I think you SHOULD share it with her David.

    Tell her what feckless incompetents the Irish really are.

    Go for it!

    • +1

      Oh the irony, if it turns out that having fled Ireland, I’m still gonna end up on the hook for the stupidity of the ‘feckless incompetents’ I left behind.

      • You did the right thing fleeing this shitehole liam. There’s a whole world out there that has never even heard of this kip.

        • Deco

          You know that a lot of people in Ireland would be annoyed that we would be that irrelevant :)

          Green jersey (superficial) patriots and the like.

          You are correct. We are largely irrelevant. And it is liberating to know it. LIBERATING.

          Therefore we should accept that we ARE irrelevant, and that be liberated from the pointless stage acting and attention seeking, and posturing.

          And BECOME FREE.

  5. cooldude

    I think the LTRO system that Draghi introduced at the ECB can explain this contradiction of falling interest rates on higher debt. Through this system the ECB will pay 100 cent on the Euro for all sorts of dodgy mortgage backed securities from the struggling commercial banks. These securities are in reality only worth maybe 60-80 cent so it is a super deal for the banks. In return for this favor the ECB seems to be insisting that the banks buy up their own countries bonds as can be seen from the high amount of our bonds bought by our “stuggling” banks. The end result is like two drunks holding each other up as they wander home after a rough night. It also results in the ECB becoming a sort of “bad bank” for all the crappy assets the banks want to get rid of. Not exactly a sound system but it’s just as bad in the US where the FED are openly buying over 70% of the US issue. This is basically a ponzi scheme where more and more debt is simply added to the ponzi.

  6. Irish PI

    IF there is anything positive about this,the German man on the street would rather see his money going to the Irish as a loan rather than to the “lazy Greeks”. Their attitude is well at least Paddy is making the effort to pay up and sort out the problem,while Zorba is still dancing around with his hankie and drinking Ouzo. No problem Paddy if you want another loan,but this will come with lots of conditions attached.
    Now the big question is,can we be smart enough to say no thanks?

  7. redriversix

    I would just like to say that this Bond deal is fantastic..3 Billion euro over 10 years at 3.3% …just great.

    I’d Like to thank Michael our Finance Minister and of course now …..

    “E.U Finance Minister of the year”

    Congratulations Mike,well done buoy.

    Now,I know getting into debt has not been easy..it has been a “job of work” but we have now , I believe.. turned the corner

    To increase our National debt by 28% in times of austerity has not been easy..but with great sacrifice,determination and hard work we got there.

    A brief mention or our interest payments…now..I know many of you were nervous about these..but were doing alright now..we never have to pay off the capital ,just pay the interest..I am told there will be a lot of opportunities for those of you who fail to get reelected , I’m lookin at you Eamonn haha !!….

    Oh,and a quick thank you to Joan….Great coup on getting G4S into Social Welfare department..Well done Joan..Well done

    Anywho..well done all..keep up the good work……if we continue so successfully with debt as we have been…. the Country will be sold off in no time…

    Great Shtufff
    now who is for cake ?…Leo ? ah go on its your favourite…. Black forest Gateaux…its even after comin all the way from the flippin Black forest…wha ?? hahahahah !!!…………

  8. Deco

    We are morally imbalanced, as a precedent to financial imbalance.

    We are borrowing because we are financially imbalanced. The promise of the institutional state greatly exceeds the delivery. In terms of performance as well as in terms of financing.

    In fact not just morally, but intellectually, Ireland Inc is in never-never-land. The sumes don’t add up. And societally, we are on a prolonged, definite course towards becomming an absolute hell hole. A hell hole where people on barely sufficient wages to feed themselves and two kids are paying 52% marginal tax, and 23% VAT/sales tax, ridiculous excise taxes on cars/fuel ( a necessity in Ireland, unless you want a super mortgage), etc…

    In return the institutional state provides “top ups” for CRC directors, FAS junkets, HSE waste, hundreds of quangos, Mrs. Gilmore’s salary, Bertie’s pension, Phil Hogan’s air miles, and Ivor Callely’s mileage. And special tax rates for “investment” by large corporations.

    Folks, Ireland Inc is a flawed societal concept. We are still misleading ourselves. The fact that borrowing is increasing, is merely testament that the whole system is chronically imbalanced.

    The solution, according to NAMA, the banks, and te regime is to have real estate prices back up again at unrealistic levels.

    Not only is the system imbalanced, but the entire country is imbalanced. The Atlantic counties are dying, with the exception of Galway and Cork. Even Limerick is losing people.

    And at the heart of it all is a love affair with gombeenism.

  9. Deco

    If Michael “Feta Cheese” Noonan is the best Minister for Finance in Europe, then Europe is is serious serious trouble.

    I can remember when Noonan promised compensation to Eircom Shareholders who lost on their gamble. He never got the chance to fulfill that promise, because the cost scared the electorate.

    A decade later and he signed up to provide compensation for the Anglo Bondholders, who were also gambling. He never promised that he would do it. Some people who are currently in ministerial office promised that it would not happen. They got into power because they said what made sense to the electorate.

    The Irish people would have been lucky in retrospect if Noonan made the country look like a joke by compesnating Eircom gamblers. The markets would have stopped lending to a country run by a clown. And the banks would have been starved of the finances to go on an almight binge of liberal leniding.

    Nowadays, we have the media (especially the state propaganda quango) talking in repsectful and referential terms about that clown Noonan.

  10. Deco

    Excellent article.

  11. David,

    you might want to consider Mark Blyth to be on your next Kilkenomics shortlist, if you can get him.

    • But nobody addresses the real cause of the financial mess and the following bailout/ins. Mark Blythe starts at the turn of the century and acknowledges debt.

      He does not see the cause of the debt.

      The debt based money system.
      Maybe two others on this site see it.

      Money issued as debt. No money is issued as interest yet the interest must be paid. The interest is paid using money put into existence which means there is not enough money left to pay off the debt principal.

      Another borrower must step up to add more money to the pot so there is temporarily enough for the first borrower to pay the interest and the debt. That leaves an even greater shortage so more people have to borrow to stop the money system collapsing.

      We have reached the stage where no one else can afford to borrow. The interest and the debt now exceeds the productive capacity of the people to support. The debt plus accumulated interest now exceeds all the total money created and in circulation.

      These are the final days before the implosion. It is mathematically impossible to survive.

      Mark Blythe does not see it
      David McWilliams does not see it.
      most on the blog do not see it
      The majority do not see it
      Lemmings over the cliff
      Or more like the herders driving the buffalo over the great buffalo jump.

      There will be no discussion on this blog on this issue. The Ignorance is totally appalling.

      Please, can anyone show me where I am wrong? I sincerely hope they can.

      • whatamess

        You have been shown how and why you are wrong,dead wrong!

        “Single serving”, magic beans of quintessentially illogical ‘metal’ based solutions to our Life/species threatening pandemic of empire is simply your “cowardly evasion of scientific responsibility”.

        The ‘smoking gun’, with a bloody smoke trail better than a Cohiba, is crystal clear for All who ‘choose’ to see the TRUTH, and is unequivocally observed in the consolidation of Graam Leach Bliley Act in ‘late’ 99, which detonated the evil monetary system and resulted in today’s chaos and misery !

        • You Have shown absolutely nothing

          Puffery and stuttering about this or that act bears nothing on the fact of the money creation which will continue unabated despite ang GS or whatever.

          Now tell me, am I wrong about the money supply . If so where. Is it not a Ponzi scheme as operated?
          How will GS or any other act change this.

          Why is this basic fact of the money supply ignored by almost every economist including DMW.


          Get specific whatamess with a legitimate rebuttal.

          • Do not give me any of that rubbish about metals or the personal invective you substitute for evidence. I had a deal of respect for you initially but you have become bonbon2.

            Perhaps you should trace the money system from at least the Bank of England through to the Federal reserve to every country with a central bank to understand the money system threatens the whole world. We are one step from a monetary union of special drawing rights. Then good buy freedom of anything. commandeering the money system is controlling government and you.
            The simple reason GS is let out of the genies bottle is to divert your attention from the real issue so it becomes too late to do anything.

            This money system has murdered plenty along the way including three presidents, others and Saddam , and Kaddafi just the latest. All these proxy wars are about the money system. No doubt when one develops a critical eye. Numerous are the false flag events.

  12. Although a good article it does not mention that there is a working poor in Ireland who are paying for the lifestyle of the fat cat parasites in Ireland and are fleeced with tax also.
    It is likely the same in Germany.

    It is not about Ireland Verses Germany it is about the working poor verses the rich parasites.
    The deers verses the lions.

    • Deco


      The parasties got bailed out. Bank directors, property auctioneers, bank economists, retiring politicians, developers “in NAMA” using the complexities of company law and the limited liability company concept, Quango directors, etc…

      Business as usual.

    • In an inflationary expanding debt based economy the money supply is continually enlarged by issuing new money(currency) into circulation.

      Those who receive it first (Bankers and pals) get to spend it at par.

      At the bottom end of the trough the scraps are already devalued.

      Those at the top get rich, those at the bottom poorer.

      Change the money system to an honest one and equity rules.

  13. Deco

    Why are we learning French at such a level in the Irish education system ?

    Ruairi Quinn will not change this – too committed to Spoiled Brats Revolution. Nobody learns more of the language of the next economic dinosaur of Europe, as we do.

    An example of the Irish institutional state adapting to the “market”.

    • Atlantean

      Deco,- Ireland is blighted by “Education Snobbery” ;

      This sad feature about Irish society has thankfully been remarked upon by Pauldiv / Paul Drivers occasionally.

      “Education Snobbery” does actually do very serious harm to the nation.
      Similarly,- “Inverted Snobbery towards good Education” does very serious harm.
      They both damage people directly, & others indirectly.

      We would be much more adept at French as an another language to have in our skill base if we shortened & simplified — but in the smartest way — the syllabus, & teaching & learning of it.
      Likewise for all the other languages.
      And, likewise with all the other subjects.

      I tend to agree with u that French is increasingly a less important language to learn for winning business.
      This is because France is in “Economic”, & “Truth”, Decline.

      France is controlled by a particular Elite that ;

      “are conscious of an innate intelligence [ the Elite's very own ] that cause them to discount the opinions of their Interlocutors.

      But,- there are some reactions against the Elite there now worth observing at least.

      Mr. President is getting a bit of an armful from the ordinary French now.
      This phenomenon is uniting the 2 otherwise polarised communities there.
      They are both numerous.

      Eirinn go Brach !


      [ Your "Inventor",'Entrepreneur", "Industrialist" , "Writer”, & “Patriot” in Exile ]

  14. as per my above video link, I am having a little conversation with Mark, and would like to suggest that you view this version of his lecture instead of my above link. It goes slightly deeper has more slides and has a different panel as well , but you literally can skip the first 6 minutes, no iddea what the Lady was taking before she made the introduction.


  15. redriversix


    “its all about your approach”..watch for Enda towards the end

  16. Atlantean

    Hi David McWilliams,

    Let’s go forth boldly into the known realm of where the greatest of soldiers have had the courage to change their game for the better.
    Expect not the overdue repentance from the Central Banksters.
    Honor that righteous entrepreneurial opportunity David !
    Compose, & promote, that original economics book per Ireland’s salvation that is begging to be written by you advocating:

    Revocation of ALL “Odious” Debt as spurious, & unlawful etc.
    Certainly, REVOKE from being owed by Irish State that part of the Public Debt which is really Private Debt
    Private Debt was unconstitutionally decided by the then Politicians, & Civil Servants, & other Spivs & Spiveens, of the Irish State under “Coercion” & “Manipulation” by the foreign Banksters ultimately to be Sovereign Debt.
    And, further Revocation of the “Odious” Debt is to be enacted as deemed justified by the righteous Irish State.

    Ban on “Fractional Banking”
    Banks henceforth can loan out from “existing funds” ONLY of same Bank.
    This is the way that Credit Unions operate.
    More specifically per Banks,- Loans can be sourced ONLY from Savings Accounts & / or Investment Funds.
    Loans are forbidden to be sourced from Current Accounts.

    Immediate Re-repatriation of ALL Gold, Silver, & Platinum owned by Irish State.
    Determination of ALL Gold, Silver, & Platinum owned by Irish State is to be done by the best Irish Economists whom after all ARE the Experts in Real Money [ Silver, Gold, Platinum ], & can be relied upon not to jeopardize the Nation, & indeed can be relied upon to valiantly, & judiciously, & patriotically, & honestly, protect the Nation, when faced with ignorant, or traitorous, Politicians or Civil Servants or Spivs / Spiveens or “Pseudo” Economists of that foul ilk be they native or foreign.

    New “Totality per Medium of Exchange” enacted by Irish State

    Withdrawal from Euro System


    Introduction of New System for Medium of Exchange [ Both Money & Currency & Securities ]
    See Elaboration of y] below.


    Outlawing of Fiat Currency being issued by Irish State when it is not backed by Gold.

    Elaboration of y]
    Introduction of New System for Medium of Exchange [ Both Money & Currency & Securities ] ;

    Re ; Money [ Silver, & Gold, & Platinum ; ONLY ]

    Irish State issue Silver Coin, & Gold Coin, as Money
    And, it “introduced”, & “managed”, as outlined by Mr. Hugo Salinas Price

    Private Persons are allowed to introduce their own Money [ Silver , & Gold , & Platinum ]
    As part of Repeal of the Legal Tender Laws,- allow Sound Money [ vis. Gold or Silver or Platinum ] of any physical type to be used in open, & free, competition.
    Let the people decide — with no Restrictions — which form of Money to use for their own “private” Use.

    Re ; Currency

    “The only Fiat Currency that can be issued by the Irish State” is to be Irish State “Treasury issued Currency” ; [ Gold backed Currency, Silver backed Currency, Gold backed Securities, & Silver backed Securities ]
    “Truly” issued by the Irish Government.
    And, it not to have been “loaned into existence” & / nor “charged Interest upon”.
    And, it to be 100% backed by Gold dedicated to this Fiat Currency ONLY.

    Note ;
    Initially,- the Irish State is in danger here of not having enough Gold, & Silver, to back the Currency.
    Thus at first,- Treasury issued Money will not be backed by anything except the “full Credit” of the Irish State.
    However, as Gold, & Silver, is bought, & accumulated,- then an extra form of Gold Money, & Silver Money, can be issued by Treasury.
    These extra forms of Gold Money, & Silver Money, are each :
    of different Names from Gold Certificates / Securities or Silver Certificates / Securities respectively ; See below
    100% backed by Gold, & Silver, respectively.
    These Currency Notes would be fully redeemable for “Gold Bullion” or “Gold Coin”, OR “Silver Bullion” or “Silver Coin”, respectively.
    And,- they would be inscribed with the Statement ;
    “I promise to pay the Bearer on demand”.
    And, all this Gold must be stored in this “The 2nd-Phase Republic” [ i.e. Not "The Pseudo Republic" ].
    And, this Fiat Currency may actually be Electronic ;
    Because,- the Money above [ Gold Coin, & Silver Coin ] should be sufficient for “physical” Media of Exchange.

    Open, & Free, Currency
    As part of Repeal of the Legal Tender Laws,- allow Currency of any persuasion to be used in open, & free, competition.
    This being even if it is private currency such as:
    Fiat Currency of other countries.
    Let the people decide for their own good which currency they prefer for their own “private” Use !

    Specifically Re ; Ireland based Institution issued Currency ;
    Any “Bank”, or “other Institution”, could issue their own Currency;
    But, with the following Pre-condition imposed upon said Institution ;
    The Currency must be 100 % backed by Gold.
    These Currency Notes would be fully redeemable for “Gold Bullion” or “Gold Coin”.
    And,- they would be inscribed with the Statement ;
    ”I promise to pay the Bearer on demand”.
    And, all this Gold must be stored in this “The 2nd-Phase Republic” [ i.e. Not “The Pseudo Republic” ]

    Gold backed Securities
    As the Irish State accumulates Bullion, & Gold Coin,- then the Irish State will issue Gold-backed Securities.
    But, these must be backed 100% by the Metal.
    These Securities Notes would be fully redeemable for “Gold Bullion” or “Gold Coin”.
    And,- they would be inscribed with the Statement ;
    “I promise to pay the Bearer on demand”
    And, all this Gold must be stored in this “The 2nd-Phase Republic” [ i.e. Not "The Pseudo Republic" ].

    Just Reparations from the Conqueror & the guilty Families
    Just Reparations from x] “the Country who enacted”, & “more particularly y] the super powerful families [ Henry Makow will gladly name the names ] who plotted & financed”, over the many Centuries the execution by Foreign Forces, & / or their Irish Enforcers, upon the native Irish People of :
    a] Genocide — by “Fire” or ‘Starvation” or “Slaughter” or “deliberate Plague” — of Millions
    b] Slavery — be it in “Ireland” or “the Americas” or “Australia” — of Millions
    c] Press ganging — into foreign “Military Service” or “Merchant Service” — of Hundreds of Thousands
    d] Exploitation, & Theft, of the Natural Resources
    e] Enforcement of Poverty upon the Vast Majority
    f] Religious Persecution upon the Vast Majority
    g] Sexual Abuse of Hundreds of Thousands [ And,- arguably Millions ]
    h] Theft, & Destruction, of Culture
    inter alia,

    Full & proper — at voluntary service — Audit of the Irish State
    This includes a full appraisal of the condition of the People resident in Ireland, & the Irish People who are in exile.
    Deco is correct about most of the country being sick David.
    It is really a spiritual & intellectual & physical sickness.

    New Constitution for Ireland
    New Constitution for Ireland whereby the Central & First Principle is “The Right to LIFE”.
    And thus,- the immediate & logically Second Principle is “The Right to LIVE”.
    Other Principles extend from the Second Principle.
    I welcome your thoughts on such matters David.

    It sure sucks being a decent person in Ireland !
    And,- the folks are gone more rotten.
    God help an Entrepreneur, Industrialist, Inventor in “The Land of Strokes” who is not in it for Greed !
    God help the Poor & Decent [ "Social Welfare Forlorn" or "Social Welfare Dependent" or "Self-Employed" or "Employee" ] !
    God help us against the Education Snobs !
    God help us against all the Liars !
    God help us against all the Exploitors !
    God help us against all the Cowards !
    God help us against all the Traitors !
    God help the Laborer !
    God help the Patriot !
    God help the good Economist !

    More Proposals will follow.

    Eirinn go Brach !

    Atlantean [ Your "Inventor",'Entrepreneur", "Industrialist" , "Writer”, & “Patriot” in Exile ]

    • Redemption of the money system to an honest moral one

      Retribution for the thieves, and tricksters.

      Roast (Fire) the central bankers

      Restitution for the people.

      Resolution sounds like a best seller!

      • Atlantean

        I agree.

        By the way,I just got an inane comment to my previous post [ Ref. DMW's Article ; Low Rates flatter to deceive ] from someone accusing me of being a “Gold Bug”.

        January 9, 2014 at 8:12 pm
        Sure there’s gold at the end of the rainbows, crocs of it.
        Goldbugs can be seen chasing that rainbow.
        What a sight!

        I refute the Snide Remark ;

        Know Yee All this ;
        I care not for the appearance of Gold, or the prestige of Gold, inter alia.

        Rather ;
        I care for Gold’s Superiority per the Attributes necessary for Sound Money ;
        [ Even, placing it ahead of "Silver", & "Platinum" ]

        Rarity [ R ]

        Medium for Exchange [ M ]

        Catalyst during the Exchange [ C ]

        Storekeeper of Wealth [ S ]

        Fungibility [ F ]

        Portability [ P ]

        Indestructibility / Immutability [ I ]

        Intrinsic Quality / Innateness / Inherent Quality in the Thing itself [ I ]

        Eirinn go Brach !

        [ Your "Inventor",'Entrepreneur", "Industrialist" , "Writer”, & “Patriot” in Exile ]

        • redriversix


          not sure about that “right to life”stuff……surely would be better to do a genealogy test & make sure they can contribute to society in a meaningful way ?

          I mean, things are a bit tight ….aren’t they ?

          Have to cut down on spongers on welfare & all that..

          • Atlantean


            Thank u for ur reply.

            The “Right to LIFE” with its “Right to LIVE” Principle will not preclude dealing with any, & all, situations justly / properly.

            I think that u are referring to foreigners in the Irish State obtaining Social Welfare payments, & other Irish tax payers funded items.

            If they are entitled to them ==> they must be given them if they need / request.

            If they should not be entitled to them ==> the Irish State needs to attend to that.

            “Spongers on Welfare” is an easy phrase to use when the repercussions for saying so are virtually nonexistent.

            The local “real, & substantial” Spongers of the Wealth of the Ireland, & the Irish Nation are to be found in ;

            the “Vulgar Criminal Sector”,

            the “Lawful Criminal Sector”
            [ Many of "the Professional Classes", "Corporate Ireland", inter alia

            the "Apparatus [ But, not all ] of the Regime”

            inter alia

            European Union is a conspiracy against Nations.
            Ultimately,- 1 World Government.
            But,- u know all this already.

            The Irish People now reap according as they sowed their Votes [ Presuming that there was not Vote Fraud by the Apparatus minding the Boxes ].

            I suggest u start reading Henry Makow’s Website.
            He is the Inventor of the Board Game “Scruples” by the way.

            Reading his website will be of great benefit to everyone.


            Eirinn go Brach !


            [ Your "Inventor",'Entrepreneur", "Industrialist" , "Writer”, & “Patriot” in Exile ]

    • cooldude

      Very interesting comments Atlantean. Just one comment on your suggestions.

      In regards to fractional reserve banking the banks do not lend out deposits and this is commonly misunderstood. They keep all deposits as reserves and lend out newly created money which is the source of over 95% of all money. The proof of this is in their accounting where deposits and loans are covered under completely separate headings. So if you deposit 1000 euro in the bank they don’t just lend out 900 and keep a 10% deposit they lend out 9000 (minimum as some are leveraged over 30-1) and keep your 1000 as reserves. So this system of banking is even worse than you think especially when you add in the “shadow banking” world of derivatives but sin sceal eile.

      I think the government should be allowed to issue it’s own unbacked debt free currency. This currency would be backed by the natural resources of the state which are numerous. That is providing they have not all been sold to cover these odious debts. I look forward to more proposals.

      • Atlantean

        Yes, Cooldude :

        U are correct about this point


        I am wrong.

        Thank u for ur courteous correction.
        And, thank u even more so for ur excellent explanation.

        I will amend “The Good Sense” Solution soon.

        By the way,- can we be certain that Credit Unions do not practise Fractional Reserve Banking ?
        I will myself search for the definitive answer to that particular Question this week.

        Eirinn go Brach !


        [ Your "Inventor",'Entrepreneur", "Industrialist" , "Writer”, & “Patriot” in Exile ]

      • Government’s own money being issued from Treasury without the need of a central bank.

        To establish a national currency it is only required to make all central bank notes(euro at this point) fully redeemable for equal amounts in treasury funds. This can be an overnight swap deal. Easily done electronically for the holders savings and bank accounts while cash in hand a little longer.

        People would be given a choice to keep euros or not as at the same time the legal tender laws would be repealed but any dealings with the state would be in national currency. Redeemed euros would be returned to the ECU and the national debt paid off that way.

        There would be no more need for the country to go to the bond market or any other market. Irish Internal interest rates would be close to zero.

        The national budget would run a surpluss being rid of the debt and income taxes could be eliminated and VAT reduced.

        • Atlantean

          Genius of an Idea !

          What say the other famous Commentators on this Blog ?

          And,- it will be very interesting to read what David says in direct response to what u just proposed.

          Eirinn go Brach !


          [ Your "Inventor",'Entrepreneur", "Industrialist" , "Writer”, & “Patriot” in Exile ]

  17. “We know how that story ended”

    “Stock prices have reached what looks like a permanently high plateau. I do not feel there will be soon if ever a 50 or 60 point break from present levels, such as (bears) have predicted. I expect to see the stock market a good deal higher within a few months.” –Irving Fisher, Ph.D. in economics, Yale Professor, 17 Oct 1929

    On 24 October (“Black Thursday”) seven days later the market lost 11% at the opening bell. On 28 October “Black Monday” the Dow lost a record 13%. On 29 October “Black Tuesday, the Dow lost another 12%. After recoveries and more slides, the Dow finally bottomed 8 July 1932 at 41.22, down 89%. –The Money Lender

    We know how this story ended too.

  18. “However, it is what is happening all over Europe. Again look at the chart. We see that as debts have got worse, interest rates have fallen. How could this be that interest rates are falling at a time when debts are rising? The only way to explain this is that ultimately someone else is going to pay our debts. There can be no other explanation, or at least, this is what financial markets think.

    But who could be that buyer of last resort?”

    You the taxpayer of course. Via the ECB and or the FED.

    Firstly the borrowings are added to the national debt to be paid by you.
    ECB prints up the funds(presses the computer keys to produce the required credit entries on the ledger) and the debt is monetized by the central bank itself.

    Did I read somewhere that the ECB cannot make loans to member states to bail them out. No sweat.
    FED steps up and makes loans to large commercial banks who have branch offices in the EU and employing swaps fund the local banks who amazingly have the funds to by the Irish bonds or the money to lend to the corporate entity that does so. US taxpayer on the hook here!! Maybe in exchange for a deal with Germany to not agitate for their gold. (Just my head going in circles ).

    However it is done or why. It is inflationary. Expect interest rates to soar at some point.

    In that perspective the Irish government is the smart kid on the street. Knowing that they have to borrow, get as much as possible, at the below market rate and lock in the rate for as long as possible. We don’t want any “tracker” bonds now do we.

  19. Ban economics and retire all economists

    “The Nobel Prize confers on an individual an authority which in economics no man ought to possess” –Hayek


  20. Welcome Atlantean

    I am wrtiing my daily right now http://www.globalmacro360.com but will be back here later.



    • Atlantean

      Thanks David,

      I look forward to ur active involvement with ur Blog.

      U must attend to “the Elephant in the Room” as outlined in my 1st Post above.

      “Sound Money” [ Gold Coin, & Silver Coin ] for Ireland.
      Get in personal contact with Mr. Hugo Salinas Price [ Billionaire Entrepreneur, & Economist ], without delay David.
      You would be excellent for to introduce the Silver Coin Money system he outlines to Ireland.

      The History Books about the Irish Nation are being written as we speak David ;

      Do not let the Scribes have the opportunity to blame u for ;
      “supporting the Central Banksters & Fractional Banksters Cabal in their plot to destroy the Irish Nation”.
      Indeed, they might blame u for setting in motion the Falling Domino Effect that destroys all the European Nations.
      That is what is being said abroad David.
      Many learned expats of other nations love Ireland for the exceptional people we sometimes produce.
      I am at pains to tell the many I meet who are familiar with u that u were used, & that pretty soon u will advocate the solution that I outline in my 1st Comment above.
      U have the intellect, & talent, & education, for to acknowledge the overwhelming Good Sense of it.
      But, the immediate task is to spend some time reflecting on it.
      Drop all superfluous tasks.
      Attend to the “Elephant in the Room”.

      Also, I suggest that u reflect on Michael Collins from Cork who initially “approached matters in the orthodox way ; Seizure of Government Buildings in 1916 Rising & learnt the folly of that, but then changed tack to approach matters in a comparative unorthodox way ;
      Napoleon qualities there for sure.
      Collins’s, & Napoleon’s, ways were arguably the old sound trusted ways actually.
      And, they won David.
      U have Cork blood in u ;
      Don’t forget that !
      And, u have Scottish & Ulster blood too.
      The Scots are originally Irish, & Cork is laden with Ulster names from all the great fighters ; Battle of Kinsale etc.
      Reflect on Liam Brady from Dublin who was a masterful Midfield General ;
      Arguably the greatest Midfield General in World Football thus far.

      U need to also gather other Great Men to be by ur side.
      It is not enough that just one goes it alone.

      Eirinn go Brach !


      [ Your "Inventor",'Entrepreneur", "Industrialist" , "Writer”, & “Patriot” in Exile ]

      • bonbon

        There are some goldbugs around under the floorboards making the same sounds. Reminds me of the German Siebenschläfer – once they get in the house roof there is no peace at all.

        Legend has it that 7 brothers slept for 100 years. I think they woke up bedazzled by gold from a long time ago.

        • whatamess

          “Reminds me” of Columbus’ (“a long time ago”) slaughtering of the overly trusting Arawak Indians!(who incidentally had zeeero ferric,not to mind an abundance of gold)

          In Columbus’ conquests,or rather his atrocities against humanity with his evil crusades, in search of gold ,slaves and spices,Genocide was in NO way hidden — “In two years, through murder, mutilation, or suicide, half of the 250,000 Indians on Haiti were dead. By the year 1515, there were perhaps fifty thousand Indians left. By 1550, there were five hundred. A report of the year 1650 shows NONE of the original Arawaks ,or their descendants were left on the island”. [ from Howard Zinn’s , “A Peoples’ History of The United States” ]

          Surely, there are lessons to be learned of the motivations of what and WHY Columbus did to the Arawaks of the Bahamas, what Cortes did to the Aztecs of Mexico, Pizarro to the Incas of Peru, and the English settlers of Virginia and Massachusetts to the Powhatans and the Pequots ?”

          NOTHING has changed and population reduction and slavery is an age old ‘tradition!’ and so from English and Spanish gunboat colonialism, we find ourselves with our current day, financial imperialism”.

          That is REAL !

          QE, another Weimar,again has simply has NOT worked (with “92% of the QE going to idle reserves!”) and the immoral and BANKRUPT system of looting empire with it’s “hierarchies of lords and vassals” is coming to it’s tyrannical end.

          This is Observable Fact ! It’s just a matter of timelines now

          HOW it ends and WHAT economic system will resurface from the rubble(will it have the Physical economy’s GROWTH as it’s Focus?) are the REAL questions humanity NOW needs to address( and empire must end ,if REAL LIBERTY, is to draw an embryonic breath )

          “Everything that is right or reasonable pleads for separation. The blood of the slain, the weeping voice of nature cries, ‘TIS TIME TO PART’…”The Rights of Man” demands it [Thomas Paine – Humanist, Philosopher,
          Artisan and Genius ]

          empty what is full , fill what is empty

          Let us intervene with Glass Steagall , before it’s too late !

          • bonbon

            Have a look at Giammaria Ortes:
            The Decadent Venetian Kook Who Originated The Myth of “Carrying Capacity”

            The tale of Aza and Zimi should clear the foggy dew.

          • whatamess


            Zinn also writes “One reason these atrocities are still with us is that we have learned to bury them in a mass of other facts, as radioactive wastes are buried in containers in the earth.

            We have learned to give them exactly the same proportion of attention that teachers and writers often give them in the most respectable of classrooms and textbooks. This learned sense of moral proportion, coming from the apparent objectivity of the scholar, is accepted more easily than when it comes from politicians at press conferences. It is therefore MORE deadly.”


            “Then in 1637 the first American slave ship, the Desire, sailed from Marblehead .It’s holds were partitioned into racks, 2 feet by 6 feet, with leg irons and bars.By 1800, 10 to 15 million blacks had been transported as slaves to the Americas, representing perhaps one-third of those originally seized in Africa.”"

            It is roughly estimated that Africa lost 50 million human beings to death and slavery in those centuries we call the beginnings of modern Western civilization ,at the hands of slave traders and plantation owners in Western Europe and America, the countries deemed , the MOST ADVANCED in the world !!”

            Enda,” a sort of breathing automaton”, is pre-programmed by Angela and Draghi’s banksters to deliver:
            1) Ireland’s looty of natural resources 2) the citizens’ financial wealth and HEALTH
            3) future generations health and wealth ,into perpetual bondage!Ireland is being blackmailed to support this Brutish system of “free trade”, the failed Euro, right up to today’s globalisation and to the point of suicide!!!!!!! …”Here comes Captain Smith!” the Arawaks cried, when they saw strange ships coming ashore and soon “Mass suicides began, with cassava poison”

            With finance centralised in ONLY five or six TBTF,TBTB,TBTM BARBARIC BANKS and their “cunning tricks” of Tavistock style psychological warfare keeping us FRIGHTENED and AFRAID,controlling us!!

            “This is the seed time” for a revival,
            a Renaissance!

            [Just because one doesn't see,or does not want to see the snaffle , doesn't mean it’s not very very Real!]

          • Your references to Columbus and insinuation of his treatment of native Americans as being associated with the above post is despicable.
            What is “reminds you of ” is a sickness of your imagination. Reprehensible.

          • Atlantean

            Hi Whatamess,

            I hope that u change ur Moniker to a positive one.
            Ur current one is very likely self-fulfilling itself now in helping to keep u trapped in ur present perspective.

            Having being a keen observer of this blog for a VERY long time ahead of posting on it,- I do notice a worrying departure from reality by u.

            It is evident that u have got involved in some way with the Larouche Pac Political CULT.
            Even just as a virtual / internet only Acolyte of that officially approved Twit[s] who usess the Moniker “BonBon” is enough to be on the road to Perdition.
            Mr. Larouche despite his considerable talents, & correct perception on many issues [ e.g.'s The Menace of Freemasonry, The Narcotics Empire of the British Royals ] has operated his movement as a CULT.
            Please,- pull urself away from any connection with it without delay.
            I hope to God that u did not give any money to the Larouche Pac organisation.

            I just had a quick peek at this ;
            It may be worthy in its negative criticism of Larouche ;


            Surely,- DMW is aware that BB is ruining DMW’s credibility to be taken seriously as an Economist with an Internet Persona when such a TWIT[S] as BB abounds on his blog.
            Unless of course ………………

            Anyway,- harness ur good talents in a positive way.
            Eat well.
            Sleep soundly.
            Engage in gentle & active exercise if possible.
            Develop a hobby ; Drawing / Sketching, Ukulele, Tin Whistle, Yoga, Computer Chess, Woodcarving, Creative Ideas,etc ; None of these will cost u more than 100 Euro ; Certainly, most of them will cost u less than 50 Euro ; Even some will cost u only the price of Pen & Notebook.

            Do not take DMW’s blog very seriously.
            And, neither for that any other blog.
            Beware of the Mental Bullies that abound on the Internet.
            They are quick to us Political Correctness as a tool against the Truth.
            And, believe in Christ ;
            To hell with the Atheists who are on the offensive against their fellow man.
            Buddha is worth reading too.

            Tony Brogan is a man worth reading avidly.
            He just pulled u on something where u are being irreverent to the thread of argument.
            Do not take it to heart.
            Rather ; Engage with him by actually trying to understand what he is saying.
            His Posts are really very lucid, & helpful.
            In fact ; Brogan has supplied “The Good Sense Solution” to the Grand Bankster Heist.

            Do not forget that along with all Nations,- Ireland is under pernicious & devastating attack on many fronts :
            Economic, Social, Moral, ………

            Life is relatively short.
            Ensure that u are happy regardless of ur circumstances.

            U are a good bloke.
            U got a Brain.
            U got a Heart.
            Look after urself.

            Here,- have a look at what this noble defender of his fellow man has to say about the Banksters ;


            Eirinn go Brach !


            [ Your "Inventor",'Entrepreneur", "Industrialist" , "Writer”, & “Patriot” in Exile ]

  21. I am searching the net on Ordoliberalism and ended at Bruegel Think Tank, reading through the CV’s of scholars, I found EU Commission, Goldman Sucks, IMF, Worldbank etc., and having visited this think tank for the first time, I had the impression that this is kinda filled with “The wrong stuff”, as it strikes me as being over respresented by the usual suspects, which I would call “Yes-men”. How many thousands economists are our universities vommiting onto the streets every year?

    Way too many spread sheet schizophrencis with severe narcisstic personality disorder and tunnel vision, zombified mephistophelian statistic worshippers, parroting the ideological mantras of their employers, dwadling in the Halls of power, armed with their bibles of Hayek, Friedmann or Keynes, stuffing their boots, dreaming of spreads and paying their way for Veuf Cliquot induced hooker sex when they celebrate their next step up the ladder with the charming smile of a chockroach and the social skillsets of a warthog.

  22. A quick real-world reaction to the article then a rare old rant.I suspect there’s 2 things involved in German willingness to fund Ireland.

    1] A long term event-horizon geo-strategic reappraisal of the Euro/EU which factors in the UK leaving and France imploding. It appears the new German plan is to hoover up the marginal ex-nation states first before dealing with the truculuent feckless French. Ireland will be an easy win as it’s shown stoic compliance as it absorbs German cultural values, unlike the upstart Greeks who will have to be given more stern persuasions to ensure they pay for all those Siemen’s submarines that their previous regimes brought from Germany for a future war with Turkey, etc.

    2] A ‘sunk investment’ both financial and philosophical. The only way to square the circle of delinquent lending by German banks [Depfa] to Irish corporates and consumers in the Celtic Tiger era is to flatly deny it was delinquent. If this takes a decade or so of relentless Angela’s Ashes Austerity, then that’s fine. The fact that Ireland is being temporarily resucitated by a temporary export revival to equally delinguent pre-election credit binge GB is a pleasant accident of electoral cycles. Once the reality of the UK’s absurd doubling of National Debt collides with the implosion of it’s Shale Redemption Fantasy, then Mega-Austerity can resume preparing the Irish ex-nation for absorbtion into Germania once the costume drama centenary of 2016 is acted out with the Queen of England clapping along in the VIP guest box with the D4 IFSC trojan-horse types who painted her postboxes green and then trashed the place alongside the Irish Judiciary who, apparently, remain legally loyally pledged to her regime.


    Pope Francis can visit as well to confer some of that Holy Roman Empire/EU/Euro revivalist vibe onto newly faith-hungry destitute Irish folk who haven’t chosen the ‘lifestyle choice’ of emmigration. Canon Law. EU Law. English Law. But not Brehon Law-type independent nation stuff, that would be a bit much.

    Ireland’s lifestyle is funded by Germany, yet, outside the Gaeltacht, the place is culturally fixated on it’s major customer UK (Man U/X-Factor etc) but there’s underlying antipathy/hostility to an imagined Norman-Toraigh-Royal UK and semi-affiliation to US/Aus/NZ/Canada due to 800 year old M.O.P.E Victim Script. Bizarre. Go figure, etc. Most who remain ‘on message’ with The Shadow Troika Regime who survive ‘lifestyle choice enforced emmigration’ and parrot the nostrums of the failed state First Irish Republic for tourists, whilst wrestling with a profound cognitive dissonance in avoiding the fact that they need to be teaching their kids German, watching Bayern and eating Rhine cuisine for the new hybrid Gael-German C21st cultural mash-up!

    Why is the biggest German Xmas market in Brum, not Dublin? Why do mad Brummies embrace German culture (meat/beer/porn/gutteral swearing/Kraftwerk) and why do so many Irish folk flock to the Bull Ring to shop, but not to Dusseldorf? I guess the waves of Angles/Saxons who followed the Norman Vikings left a cultural and linguistic resonance in Mercia that isn’t found in, say, Leinster. So why is Osraige-Leinster, my ancestral sod, now balancing it’s books for Berlin? *scratches head* This Euro/EU/Isles of Wonder stuff is really challenging to get to grips with ‘logically’.. Post-Irish. Post-English: “even better than the real thing” The Diaspora are not just a wallet for the sleveen marketers to raid, the same shower whose ancestors forced ours to emmigrate, etc.

    Overview for first article/response rant of 2014: I see Max Keiser and Stacey Herbert are now also riffing on the absolute baloney that is The Shale Gamechanger. When the abandoned, uncapped rigs and the ponzi drilling rights debacle filters through to reality, expect the next crisis to hover into view. Bitcoin is still the Napster of Cryptocurrencies for credulous Galt’s Gulch types, literall i-Tulip. Satoshi Nakamoto is probably Opus Dei-Vatican Mafioso Bankster. Ireland becomes one vast meat-processing factory, last ancient forests in Albion grubbed for housing start-ups, both islands uplands turn to huge windfarms, Robotics begin to finally trigger Luddite Uprisings, etc. Pope Sun Tzu Machiavelli is forced to show his hand by no-longer timid UN, and Kiklenomics will probably have one more run before going mega/global. I’m on antibiotics for chest infections: how long before their use in Carnism agri-business renders them ineffective for humans and Consumption returns to claim me with COPD due to all the fags I passively smoked via Dad as a lad? 2014 should be a classic year. Sure, it’s all good. It’s all be grand. Etc

  23. Atlantean

    This aspect of “game-changing” Technology should greatly reduce the need for borrowing from financial institutions by homemakers ;


    Rid the country of the parasitic Landlords, & other Spivs / Spiveens who exploit the person looking for a place to call home !

    Give “responsible” power to the people !
    No need for the grand statist-style project here.

    This technology should mean no excuse for the existence of “phony” Advocates / Specialists for “tenants”, & “homeless & roofless” people.
    Those Spivs / Spiveens function as Gatekeepers for the whole crooked & rigged Irish political system.
    There are those who point to they being “registered charities” on behalf of Tenants [ And, Landlords too ], & Homeless & Roofless.
    Nay,- they are the Prevaricators against the decent Tenant, & Homeless & Roofless.
    These Prevaricators exist in the Civil Service Realm & the Quasi-Civil Service Realm [ Quangos ].

    I know that there are decent Landlords.
    They are in the Minority.

    And, I know that there are bad Tenants.
    They are in the Minority.

    Interestingly enough,- most of the nasty Landlords were nasty Tenants prior ;
    Nasty to fellow Tenants, & sometimes the Landlord.

    Landlordism is bad for the Health of :

    decent people who are Landlords
    decent people who are Tenants
    the Homeless & Roofless

    In fact,- Landlordism is what motivated most of borrowing that led to the Grand Bankster Heist upon the Irish State.

    Ban Landlordism !

    And, get adept at this new Technology !

    Eirinn go Brach !


    [ Your "Inventor",'Entrepreneur", "Industrialist" , "Writer”, & “Patriot” in Exile ]

    • bonbon

      Utter nonsense. What led to the disaster is the repeal of Glass-Steagall in late 1999. Look how worried the banksters are :

      AmericanBanker Features a Whistling-Past-the-Graveyard Essay To Dismiss Glass-Steagall

      An “The Banker”, that most read Financial Times rag, gave Noonan the Award of the Year. No mention of Glass-Steagsll, so far from that basket-case.

      • More like the repeal of the gold convertibility clause by Nixon. It followed the closing of honest money by FDR in ’33. In between was Bretton Woods in ’44 granting the US immunity from inflationary actions even though they never balanced the books once since.

        • bonbon

          Nixon repealed Bretton Woods just before resigning. That opened the door to the petrodollar, the S&L collapse which put Air Alan Greenspan in charge. He campaigned untill Glass-Steagall’s repeal. Since then, well, bubbles and explosions.
          Bretton Woods made sure the world could reconstruct after WWII. Glass-Steagall broke Wall Street in 1933 an made sure the USA could reconstruct then. Now we stand before the greatest reconstruction ever seen. And Hamilton’s Credit systems is the way to go, not a Specie Resumption which would literally kill billions.

  24. Dorothy Jones

    Ah now David, I get that flight a couple of times each month and when was it ever *half empty*…. My job is Client representative for 10 construction projects in Germany. Of all the teams of consultants and contractors we deal with from Ireland, none speak the language or have German experience. Having 20 years in Germany under the aul’ belt at this stage with Deutsch, it’s my way to earn a living. The German companies and contractors all have an English speaking contact for these projects. There’s full employment in Germany and that flight is usually fine. Having said that I had to live in Hamburg last year to get a fast-track job completed for a public client which no sane person would touch. The Germans are NOT efficient with regard to costs on public construction projects eh Georg? ;) #ElbPhilharmonie #Stuttgart21 #BERFlughafenBerlin #DeutschePannenprojekte

    • LOL…nope they are not cost efficient, but hey, “What happened in the 90s? The protestants are back!” Hehehehe!

    • bonbon

      Those projects, adding in the Transrapid, and nuclear power, are the target of “Wutburger”, a symptom of the breakdown of civilization. 17 large projects have been blocked. Finance for these “rage activists” always leads to George Soros in one way or another. This has nothing to do with famous efficiency but with the sabotage of it by international finance.

  25. bonbon

    Hearing: Allan Meltzer Warns of Coming “Tidal Wave” Effect of 3 Trillion “Currently Idle QE Reserves”

    Is this what the masters of followship, the front-runners, are banking on? Well look again!

    • “He described it as “a tidal wave” of some $3 trillion in currently idle reserves sitting in the banks”
      Those reserves at a 10% rating can pour 30 Trillion in to the economy in no time flat. A tsunami of liquidity. Hyperinflationary hell.
      That is the US FED
      Then there is the rest of the world doing the same thing

      Get your antidote while you can. Hard assets, paid for property, and honest money.

      • bonbon

        Glass-Steagall is clearly the only way to handle this FED tsunami. Tsunami’s have a problem with “hard assets” like the Fukoshima barrier wall.

  26. bonbon

    Either the “Main Attraction” (great Spielberg movie btw) DMcW, attracts gold which is not magnetic at all, or more correctly, weakly diamagenetic, which would prove the gold is fake, or this is DMcW’s agenda? Or maybe the goldbugs have nowhere else to go, so they all end up in Eire at the end of a rainbow. Looks like the ancients knew something after all.

  27. Atlantean

    Yes ! ! !

    And, that includes the Gold Dinar of Gadaffi that directly challenged the Petro-Dollar.

    The Gold Dinar that was hated by :


    Bernard Henri Levy [ Media fabricated phony ‘Philosopher’ ]

    Francois Hollande

    Then they obliterated Libya, & sodomised Gadaffi.

    Now, the very popular French / Cameroonian comedian Dieudonne [ Dieudo ]is helping to lead the resistance against the French Elite ;

    ”Francois [Hollande] do you feel the Quenelle sliding up your a.. ?”

    And, the 2 otherwise polarized majority communities in France are in unison loving it.

    “Viva la Resistance !”

    Eirinn go Brach !


    [ Your "Inventor",'Entrepreneur", "Industrialist" , "Writer”, & “Patriot” in Exile ]

  28. Atlantean

    Word from New York Hedge-fund source ;

    The USA is so heavily invested in France that if France collapses, the USA will follow.

    Eirinn go Brach !


    [ Your "Inventor",'Entrepreneur", "Industrialist" , "Writer”, & “Patriot” in Exile ]

  29. Atlantean

    It is absolutely clear is that France is at the very edge of a social explosion.
    The French are pissed ; Really pissed !

    In the past the Oligarchy could use the immigration issues to channel this anger towards each other.
    Now there are more and more signs that the immigrants and natives are joining forces against their real common enemy ; The Elite

    Eirinn go Brach !


    [ Your "Inventor",'Entrepreneur", "Industrialist" , "Writer”, & “Patriot” in Exile ]

    • Ryu Hayabusa

      Hello Atlantean,

      Vous avez raison! The French are really really pissed. Well let’s face it, they are normally in a perpetual state of being pi**ed off anyway!! ..but it’s certainly gone up a notch. The vitriol is coming to boiling point.

      This Dieudonné character certainly isn’t helping!

      Won’t be too long afore they’re dunking bodies in the Seine again a le ’61.

      Is it any wonder they make the hair stand up on the Brutish… er British Bulldog’s neck.

  30. Atlantean

    The Quenelle really means ;

    We do NOT trust u, we do NOT respect u, & we do NOT even fear u any more.

    The extra fear for the Elite is that the Quenelle is about to travel across the Atlantic.

    Eirinn go Brach !


    [ Your "Inventor",'Entrepreneur", "Industrialist" , "Writer”, & “Patriot” in Exile ]

  31. Atlantean

    Of course,- Wikipedia.com is not to be ultimately trusted.
    They are “compromised” also.
    They are definitely guilty of “gate-keeping”.

    Anyway, as ever relevant to any of the Themes of our wonderful Host’s Articles,- start digging into this ;


    Eirinn go Brach !


    [ Your "Inventor",'Entrepreneur", "Industrialist" , "Writer”, & “Patriot” in Exile ]

  32. Atlantean

    And, get inquisitive about this too ;
    Go very deep !


    Eirinn go Brach !


    [ Your "Inventor",'Entrepreneur", "Industrialist" , "Writer”, & “Patriot” in Exile ]

  33. Atlantean

    Immediately,- I smell something fishy here with this “Information” ;


    Something / Somebody missing.

    Hmm…………mm !

    Something VIP & “RELEVANT” to yee all here is not in “co-relation” with other Information from Wikipedia.com.

    Deco should like this “INDY-SOURCED” Smokiing Gun !

    Eirinn go Brach !


    [ Your "Inventor",'Entrepreneur", "Industrialist" , "Writer”, & “Patriot” in Exile ]

  34. Eirn go Brach
    Erin go broke

    take your pick

    • Atlantean

      Hi Georg,

      I’ve taken my pick already ;

      Eirinn go Brach !

      But, i admit,- we are near to “broke” now.

      The romantic German has a great love for the real Ireland, & Irish.
      This is duly noted, & appreciated.

      We need u.

      Keep up the Spirit !

      By the way ; I note that Germany has no real Sovereignty ;
      Hence,- a great many vital Truths cannot be discussed in ur society.

      Eirinn go Brach !


      [ Your "Inventor",'Entrepreneur", "Industrialist" , "Writer”, & “Patriot” in Exile ]

      • I used to live in both, the fake and the real Ireland, Dublin & Donegal. Yes, I read the Heinrich Böll diaries, of course, however, I am past patriotism as I do not acknowlegde the borders others have drawn for purposes of their own a long time ago.

        When all this started back in 2008, I called this a class war right away, and to be honest, it was the uninformed me back then saying this out of my guts and life experience, today I can put meat to that bone.

        Sovereignity as in the authoritarian understanding is no longer of any importance, as a moral imperative however, it has never been of more importance.

        We live in times of a class and ressource war, and at the same time the resurrection of a paleo bourgeoise middle class that is activated again for matters of psychological warfare, to distract from the true offenders, find the usual scapegoats and feed them to the mob. Here they make use of the same old same old demons, dormant for a while, but surfaced again with force, different cloths today, no longer brown shirts, but as racist as ever, the pied pipers are out again and the masses slowly started dancing to their tunes.

        There are no truths that can not be discussed.

    • What does ‘go Brach’ mean?

      • Éirinn go brách, known by most as a nationalist and IRA slogan. Ireland forever.

        • Thanks Georg. An utterly meaningless phrase then.

          • Atlantean

            What a sad day for Ireland when an “Irishman” has to confer with a German man as to the meaning of ;

            “go brách”,


            “Éirinn go brách !”

            And, an extra sad for Ireland when upon getting the particular interpretation of it from our resident Humble Visitor “George R. Baumann”,- u declare it ;

            “An utterly meaningless phrase then”

            Eirinn go Brach !


            [ Your "Inventor",'Entrepreneur", "Industrialist" , "Writer”, & “Patriot” in Exile ]

          • Sad day my ass.

            English is my native tongue.

            Do you want to force me to learn another language which is not the one I was born speaking?

            Oh wait, they did force me in this country when I was a kid and it didn’t take. You’ll find that forcing people to do things doesn’t work – it has the opposite effect.

            Forcing kids to do things they don’t want to do is a form of fascism.

            I’ve no problem with learning languages, I can speak fluent Hungarian but I’m not learning a language that I haven’t chosen to learn – neither are my kids.

          • Futhermore, you’re obviously a pull on the green jersey merchant, Mr. Atlantean.

            You drank the kool aid, good and proper.

            As it happens, I support Sinn Fein from a distance (wouldn’t get involved with politics close up – I’m too much of an individualist for that) as they are the best of a bad lot at present.

            The reason I support them (or vote for them occasionally – if I bother to vote – because I don’t really believe in voting) is because they fought against apartheid in the north of this island (which is arbitralily known as Ireland – ‘sovereign’ nations are fake) at a time when one group of people were being prevented from working for a living and feeding their kids, purely because of which brand of fantasy religion they were born into or chose (their choice) to practice.

            And presently they offer what I would consider fairer, if slighty underdeveloped policies particularly with regard to breaking the cabal of corporations, banks and corrupt political parties that has run this place into the ground in recent years, for their own benefit, ripping off the general populace for every penny possible.

            I don’t care about Sinn Fein’s (or anyone’s) attempt to speak a half dead language or wave a meaningless flag.

            Neither do I care about you trying to convince me that I’m missing out on speaking said half-dead language or pulling on your precious green jersey.

            Is that clear enough for you? These are subtle distinctions of perspective and so for you haven’t shown much ability to distingush the wood from the trees.

            Keep trying.

          • Thanks for the inverted commas (” “)

            I am NOT an Irishman.

            I am a man.

            All men are equal no matter what place they were accidentally born.

            Countries do not exist, they were falsely created to control and discrimate against people and to hoodwink individuals like yourself into following the herd and playing by the rules, so that you can be milked for your talents and money every day of your life by those who consider themselves superior than you.

          • superior ‘to’ you rather…

  35. bonbon

    Two letters from 2009 between the Bank of Ireland governor and a named tax adviser which had been copied to late minister for finance Brian Lenihan, have gone missing.


  36. Atlantean

    The Grand Bankster Heist that has officially surfaced in this the 21st Century is really the continuation of Religious [ Atheistic / Satanism ] & Racist war upon the so-called “Cattle” that are said to be the inferiors of the Illuminated Ones.

    It is not a Class War as they would have u deceived.
    To mention just one nation of many trounced, all the Class Strata were targeted for Genocide by the Rothschilds’ Agents “the Bolsheviks” in The Ukraine ; 20 Million at least.

    There are plenty of Truths that cannot be discussed in France, & Germany, & other Police-States, for fear of being imprisoned.
    And,- various Fascist Irish State governments have imprisoned people for reporting the Truth.

    Henry Makow is spot on about the Facts ;


    Eirinn go Brach !


    [ Your "Inventor",'Entrepreneur", "Industrialist" , "Writer”, & “Patriot” in Exile ]

    • bonbon

      Avoiding the Brutish Empire, truthfully the problem now as before, is very Tigerish indeed. Modeled on Rome, as admitted, it is intent on massive population reduction, openly stated from various quarters, including royal attics – a culling of humanity, whether by a crash as Hayek dreamt of, war as Bertrand Russell slavered, or starvation and plague as popular greenism lurch to. None of this is new, it goes back to Gilgamesh and Troy, but with Obama at the thermonuclear hair-trigger it would be over in 60 minutes.
      This is the truth of Aeschylus’ Prometheus Bound, which is why it is banned in classrooms.

    • double face palm

      There ya go, join Bonbon on my ignore list. POOOF

      Henry Makov,yeah right! LOL

      • Atlantean

        U obviously are a conceited individual if u resort to unjustified insults.

        I note that u are a self-contradictory poster as it is.

        Trusting that ur churlish ways are duly noted in the “real” consciousness of the people of Dublin, & Donegal, or whereever in the Island of Ireland & all its Islands, & of the Irish Exiles abroad who are rightfully respectful of the Nationhood & Borders of all States that they travel to or are based in,- I remain a great admirer of ;

        Henry Makow ; http://www.henrymakow.com

        And, come to think of it ;

        Gilad Atsmon also ; http://www.gilad.co.uk/

        Eirinn go Brach !


        [ Your "Inventor",'Entrepreneur", "Industrialist" , "Writer”, & “Patriot” in Exile ]

        • Nationhood and Borders indeed.

          You are the one coming on here insulting people by calling them something they are not and demanding that they learn your half dead language.

          Next you’ll be telling Georg he should learn Proto-Celtic if he happened to be born near the Western Hallstatt zone.

          (I’m not saying he was, it’s just an example)

          Stick your Eirinn go Brach up your arse.

          • Atlantean

            Mr. Byrne,

            I have not demanded in any way that anyone learn any particular language ;
            Not to mind 1 of the official languages in Ireland ;


            Irish / Gaeilge

            However, Adam, the phrase “Eirinn go Brach” is commonly known, & used when possible, by many Irish Descendants who have an interest in the old country, & used by Irish Expats who are rightfully reminding people of the good & special contribution of Ireland.

            Were I tell any sound Frenchman or Hungarian of ur asinine / elitist approach to me who happens to be just a decent Irishman,- I believe that they would personally serve u with a Quenelle.

            Clearly, u are beholden to the Visitor from Western Hallstatt Zone ;
            He has some mental hold over u.
            U do not have to give him a Quenelle ; Even if he wishes u to so serve him.
            Rather,- I suggest that u reflect on his profound conceitedness, & weak character.
            Then,- u will be more a man !
            More an Irishman !
            If u were a German in this same situation beholden to an Irish mental bully,- I would be enthusing for u to be likewise more a man !
            More a German man !
            More a righteous German man !

            And, do not be beholden to any political party also.
            By the by, looks like most of u know who were controlled by the Brits.


            True Irish Republicans would not have tolerated any German Occupation of our country in WW2.
            Because,- true Irish Nationalism is not an anti-British motivation.
            Rather,- true Irish people do not accept being bullied by a foreign occupying power.
            Actually,- true Irish people do not accept any Bullying done to themselves or anyone else either.

            Eirinn go Brach !


            [ Your "Inventor",'Entrepreneur", "Industrialist" , "Writer”, & “Patriot” in Exile ]

          • Like I said, you don’t really get what I’m saying Mr. Atlantean – you are too bound up in conventional thinking.

            ‘official’ language means nothing to me.

            Who / what made or makes it ‘official’?

            Official is a fake construct.

            Nothing is ‘official’ to me unless I want it to be (like you do). I make my own rules for myself, I only abide by the common rules of society because:

            1. I don’t like hurting others unless I have to.

            2. I don’t want to go to prison / pay fines etc.

            3. I don’t want the inconvenience; I have better things to do with my time.

            The corrupt and incompetent governments that have ruled this fake construct called a country (which in reality is a place, an island, at the edge of an Ocean) have no right to declare anything official as it pertains to me.

            I deny / rescind / revoke any such right – I did not give it to them in the first place.

            This nonsense about asinine / elitist is so pathetic it’s barely worth replying to. Loads of people on here, including David have met me in person and know I’m nothing of the sort. You just made that up in desperation and you know it.

            I have never met Georg and don’t care where he was born, or what passport he has, but over the years he’s been a decent contributor. No one makes perfect sense all the time.

            Like I said, all this nationalism, the true Irish, etc. is a load of crap, if you want to fall for it and all its cliches then good luck to you.

            Safe travels, would be big of you to give at least your first name and what sort of entrepreneur you are – that might be more useful that flag waving and chest beasting with your misplaced ‘Irish’ pride.

          • ‘beating’

            What’s happening with the fonts on here?

            They are all mixed up.

          • Atlantean

            Mr. Byrne,

            Please re-evaluate ALL of what I have said from the very beginning of my brief tenure on the Blog.
            This involves going back to the Comment Section of the previous article by DMW, & this very Comment Section.
            The re-evaluation requires being aware of any, & all, of :

            ur prejudices pro or against [ For we all have our current fixed opinions ]


            the various prejudices pro or against that are particular to the fashion of this age


            what I am actually communicating.

            This Task requires having an “Open” Mind ;
            Such a state of mind is difficult to practise ;
            I myself am not perfect in this department I rush to admit.
            And neither are the vast majority of people.
            We are such prisoners of cultures. & habits, & all the various pressures of life that we err through sin of Ommission, & sin of Commission also, to be fair at all times.

            Re ; Ur actual Accusations leveled against me

            Sin of Commission by u ;

            U have mistakenly, & wrongly, ascribed qualities about me that are absolutely not discernible from “overall theme”, & “sub-themes”, & “substance”, & “style”, & “character of me vis-a-vis the context of the various threads”, had u approached matters with a fair & open mind.

            Similarly,- per Sin of Omission by u ;

            U have been amiss by not appreciating the worthiness of what I have written for every person’s benefit.

            It may please u to know that I think of u as an obviously intelligent man, with worthy values no doubt.
            Likewise,- i think so of a great many of the Posters who have contributed to the blog since its inception which includes that “most humble” visitor to our shores GRB.

            As it so happens,- I have stood my ground against some of the aspects of Ireland that u are negatively critical about.
            And, I so often found myself a lone defender for the common man.
            One such aspect is the particular aspect that has asserted itself in the teaching, & use, & the whole shebang, of our Native Language ; Gaeilge.
            It is also 1 of our Official languages for dealings with Irish State, & its Citizens, & its other Residents.

            Perhaps u did not remind urself constantly that prior to my actual contributions here,- I have the advantage of being able to attentively study yee all.
            Through yer writings alone.
            What I ascribe negatively to GRB is supportable from his past communicates.

            As a general note with respect to writing to any audience ;

            A person should be most careful in what & how they write.
            Aye, yes indeed.
            But, they should be even more careful with how they develop their character.

            Please see to it that ur excellent qualities shine, & that u do not commit me a disservice again.

            And,- please desist from being a Nosy Bollox ;
            It is none of ur business what I do in my life.
            This fault of urs has been for sure pegged to u now by the observers of this blog.
            Even other Nosy Bolloxes will reckon u to be a Nosy Bollox.
            But, wait,- there is hope !
            There is Good News !
            U can drop that characteristic.

            And, do not let urself down, or the struggling decent Irish people, & the noble foreign fans of the noble Irish, by acquiescing to Political Correct BS which also involves betraying the Irish Nation.
            Being patriotic is not a matter of “Pride”.
            Pride is a Folly ;
            It is a Sin if u really want to know.
            Rather,- true Patriotism is a matter of being a a righteous brother to ur fellow man from Ireland who has come before u, or is here with u, or is yet to be.
            And, it is a matter of being a righteous man to any foreigner.
            Righteousness means being a true & moral & strong man.
            It often requires the guts to stand up against the local Elite who may be wronging u, or ur fellow Irish person, or wronging a foreigner.
            But, do not think that I am singling u out.
            The vast majority of Irish would coward away from tackling Civil Service Corruption ;
            Especially the Corruption that emanates from the Security Apparatus of the State.
            And these selfish F….’s are very responsible for the whole Grand Bankster Heist of Ireland.
            And, they helped to enact the Dublin & Monaghan Bombings too.
            Check out “The Badger”.
            Amazing what folks will do for to protect their “Cozy Shop” of Landlordism etc as a Side-Earner.
            No ;
            The Irish State will not tolerate Social Justice.

            U surely smell a rat with the foothold that Narcotics have done in Ireland.
            Irish Elite are complicit in this too Adam.
            Including the “Apparatus”.

            Keep up the good that u do.
            This would be excellently patriotic.

            As a further Conciliatory Gesture ;

            The Quenelle would be much better used on Dame Edna Kenny, & the rest of the Irish Freemasons & Freemasonees who are destroying Ireland.

            Viva la Resistance !

            Eirinn go Brach !


            [ Your "Inventor",'Entrepreneur", "Industrialist" , "Writer”, & “Patriot” in Exile ]

          • 1. I don’t have time to go back on all your posts, I scanned them all previously; some of them didn’t make much sense, while others were interesting enough.

            2. I have certain opinions but they are fluid within reason – I don’t follow fashions. I keep my own counsel and have an open mind.

            3. I don’t hold grudges against you, Georg or anyone else, no matter what you say. David allows and enjoys free speech on this blog.

            4. I prefer to deal in the real world, with real names. But if you want to use some made up name that’s your own business. It’s interesting, educational and informative to discuss the different professions and real life experiences that people have on this blog. We can all learn off each other. You can call me any name you want, doesn’t make a difference to me.

            5. I agree with you about the state of this country and the banksters, civil service etc. People in this ‘place’ are being ripped off. However, I am not. I have no loans, never had and never will. I get my PhD studies paid for in full because of the hard work I put in in the past. My approach is to take them (the ‘authorities) for every penny while I am still here, seeing as they are ripping off most normal people in this place. Considering my humble background I see it as a Robin Hood-esque endeavour.

            6. The Irish language means nothing to me – don’t care about it. If you want to speak it that’s your business, but other people (kids) should be made to learn it compulsorily. They should have free choice in whether they do or not.

            7. Patriotism is a load of old cobblers. I am loyal to family, friends, the wider community and accepting of all men and women on this planet within reason (unless they give me cause not to be) but loyalty to an abstract (and non-existent) concept like a country or flag or nation or sovereign is a critical mistake.

            8. Good luck on your travels, come back and see us.

          • kids ‘shouldn’t’ be made to learn the language I mean…

          • Atlantean

            Actually, Adam,- most of the “Gaelgoiri / Irish Language” Crowd are a shower ;
            Intellectual Snobs.
            Vast amounts of time & money, since the foundation of the Irish “Free State” has been entrusted to them for to save, & re-new the Native Language of Ireland.
            It has been on the whole,- wasted.
            Most of the Gaelgoiri’s have been part of a Cosy Shop ; Their own.

            Please Note ;
            What I say is not to take away from the Merits of re-newing the Native language for our own personal use.

            Speaking Irish does not infer that one is a true Irish person ;
            Think of Conor Cruise O’Brien ;
            Fluent in Irish.
            I deeply suspect him of conspiracy in the Dublin & Monaghan Bombings.
            Any other murders of persons done to anyone on any other basis is equally morally wrong also.

            Eirinn go Brach !


            [ Your "Inventor",'Entrepreneur", "Industrialist" , "Writer”, & “Patriot” in Exile ]

          • Well I wouldn’t know about all that but I’ll take your word for it.

            I have nothing against the Irish language per se. Learning languages is great.

            That particular language is just not for me. I don’t have an interest in it and it’s not my mother tongue.

            What I do object to, is anyone (especially kids) being told that they have to do something on a compulsory basis. I’m totally against that. It doesn’t work anyway.

            At the risk of repeating myself, people should have freedom of choice in anything they do.

            I don’t know what a ‘true Irish person’ is nor do I care. It’s just a pigeon hole. People don’t fit into those.

            I’m interested in people from all over the world, not just from one small and inconsequential island where I happened to be born by accident.

  37. bonbon

    For those who should know, the Böll Stiftung is the German Green Party money bags, the Böll who lived in Ireland.

    Glass-Steagall Is Endorsed From a Surprising Corner in Germany

    Jan. 3 (EIRNS)–None other than Sven Giegold of Germany’s Green party, one of the key promoters of the European Banking Union package in the European Parliament who praised the Union as “the biggest breakthrough in European policy since the introduction of the euro,” writes under the headline, “Separate the Banks, But for Real!” for this week’s issue of {Die Zeit}, that whatever is finally planned by the EU Commission on banking reform, is a bureaucratic monster. There will be enough loopholes for bank lobbyists to circumvent the new regulations if there were any to be taken seriously.
    There would have been a much simpler solution, Giegold writes, namely the Glass-Steagall rule, which in 37 pages only made a strict and simple separation of banks, leaving no loophole at all for any lobbyist. Giegold concludes by saying that although this cannot be done in Europe now, it will be on the agenda with the next big financial crisis.
    It seems that Giegold, looking for a popular issue for him to lead the German Green party slate for the European Parliament elections in May, has discovered that real bank separation is a good issue to campaign with. Indeed.

  38. Atlantean

    A number of times I’ve been invited to join the Freemasons.
    But, I have always declined.

    Henry Makow has the inside track about them.

    All the Banksters are Freemasons.

    Here,- get a load of this ;


    Éirinn go Brách !


    [ Your "Inventor",'Entrepreneur", "Industrialist" , "Writer”, & “Patriot” in Exile ]

  39. Atlantean

    This is a Link in above Henry Makow Article ;


    Trusting that I will not be the only Poster to agree to the Veracity of this Feature,

    Éirinn go Brách !


    [ Your "Inventor",'Entrepreneur", "Industrialist" , "Writer”, & “Patriot” in Exile ]

  40. redriversix

    Friday 17/1/14

    Stillorgan Park Hotel 7.30

    My first candid talk on life after debt..not theory ,real experience

    Scrapping fear stress & anxiety..one day at a time

    Moving on with life….

    Protecting yourself & your family

    Putting yourself first & realizing your worth.Learning to let go….

    Failure is a event,not a person..doing the best you can..facing reality…doing a budget..Moving on with life..

    Tickets €15.00 each. Limited to 60,includes Tea/coffee & some Lincoln & Mikado biscuits !

    Glass steagall was a major contributor to financial collapse..but more to it then just that.

    Banking World has been operating a Ponzi Scheme & continues to do so.

    I believe Dollar exit from Gold standard in 71 under Nixon was a major Factor in the issues which grew from this event culminating in the ongoing financial meltdown.

    Keep it simple

    Enjoy your evening


    • bonbon

      British Labour MP: Glass-Steagall Worked, Everything Else Doesn’t
      37 pages is easy to understand, huge piles of legalese are used to block Glass-Steagall.

      But the principle of Hamiltonian Credit, the key to economic revival and literally personal survival is not easy after 40 years or monetarist brainwashing. It is simple but only if you dump the money narrative, whether fiat or metal. It is hard to dump the prevailing dogma, it takes some study, real mental activity.

    • See you there Barry, how do I pay you? Or pay on the night? Do you take bitcoin haha?

      Looking forward to seeing Mr. bonbon there too.

      • redriversix

        Look forward to seeing you Adam…..

        you can pay on the night with bits of anything…haha!

        Bonbon turning up ? interesting thought….that would be cool seeing as Atlantean has slipped under the waves again…


    • spitting three times over right shoulder….crossing my fingers for ya…. you get my drift! LOL

      Hoping for a booked out venue for you.

      I think David McWilliams should come along and do the honor to announce you on stage, he ows you one for all your contributions.


      • redriversix

        Thank you Georg

        Appreciate your kind thoughts.

        thought you could come over & introduce me and take the photographs.lol

        Well………I am sticking my neck out now..! if 10 people turn up and one leaves feeling a little better i will be happy.

        Hope things are good in Germany and you are getting out plenty with the camera..?

        All the best for 2014 Georg


        • I’ll be there for sure Barry.

          Just wondering how you are publicising it?

          Isn’t George in New Zealand?

          • redriversix

            Georg,Are you in New Zealand ?….last I heard you were in Germany ?

            As long as your happy..wherever you lay your hat..


          • redriversix

            Just using Twitter & facebook Adam…

            & word of mouth….First time doing this in a “official” Capacity.

            Have spoken many times as a volunteer in Community Centres around the Country and some Hotels.

            I have limited it to 80 and that may be ambitious but I didn’t really want to make a big deal..just put it out there and see what happens..kinda “O.J.T”
            [ on the job training] ]

            Twitter seems to have been pretty good,,certainly better than expectations

        • Barry,

          They don’t tie the dogs to the fence in Germany, but they do here. LOL

          Hey, I was serious, send a note to David asking him for a favour to make the opening, and perhaops bring a few people along.

          As my impression of David goes, I would not be astonished if he does it!

          All my best

  41. Paul Divers

    A useful little information tool

    Interactive world debt comparison. By hovering over each country you see vital statistics such as population and national debt as a percentage of GDP and the amount of debt per citizen. You can also go back in time.


  42. Paul Divers

    UK Debt Bombshell. National debt: the No-nonsense Guide


  43. Paul Divers

    Lets Look at Africa?

    How Bill Gates Is Helping KFC Take Over Africa


  44. bonbon

    Is this what DMcW is waiting for? Jack Lew to the rescue? Is this perverse?

    Secretary Jack Lew in Europe: Print Money!

    Jan. 9, 2014 (EIRNS)–During a three-day trip in Europe, in which he visited Paris, Berlin, and Lisbon, U.S. Treasury Secretary Jack Lew had one basic message: print money! This demand for more bailouts brought him into conflict, at least with Germany. During a joint press conference in Berlin Jan. 8, despite protestations on both sides of general agreement, German Finance Minister Wolfgang Schaeuble remarked: “It does not help the U.S. deficit, if we add another deficit of the EU to it.”
    Not surprisingly, Lew’s message was thoroughly in sync with that of Wall Street lackey and ECB head Mario Draghi, who held his monthly press conference today in Frankfurt. There, Draghi announced a continuation of the .25% interest rates, and stressed that the bank would take whatever action needed to keep tings afloat. When he was hit by the surprise question of whether the ECB could ever run out of money, he was a bit taken aback — but then said, “No.”
    Another point of tension arose when a journalist raised a comment which Draghi had made in an interview with {Der Spiegel} over a week ago, in which he bemoaned the “perverse Angst” by Germany of inflation. Challenged as to the use of the term “perverse,” Draghi defensively went into an explanation of how “perverse” shouldn’t be confused with “perverted,” reading from a dictionary — to the laughter of the press corps.
    What’s perverse, of course, is the ECB’s entire economic policy–killer austerity, with hyperinflation, = genocide.

  45. Atlantean

    Hello to all Posters on DMW Blog, & all Readers of the Blog, & not least to our talented, & bashful & taciturn in response to direct Questions Re “Real Money Economics” Host,

    I will be taking a sabbatical from the Blog.
    Having to travel again I am, & I surely will be too busy for an unknown period of time.

    But fear yee not that yer sovereign wealth be forgotten,- my aim is to return with even more positive input.

    I thank yee all for their kind reception of me already in my short spell in the Blog.
    I thank those of yee who contribute in a wholesome way to the site.
    I thank the readers who care to read my Posts.

    Ahead of bidding Adieu,- I suggest that yee all treat yer Imput of Posts like Treasury issued Currency Notes.
    Such “Virtual” Input of Posts / Currency Notes [ Fiat ] should be matched by “Real” Input of Worthiness in Character & Action [ Be yee as good as Gold ! ]
    This entails ;

    being mindful of Christ’s great advice ;

    “Be as Wise as Serpents whilst being also as Innocent as Doves.”


    preparing urselves, & yer loved ones, & thence yer communities, & yer Nation [ And, as the case may be ; the Nation yee are in but not native to ], & all its visitors of good heart, & if u can all the Nations of the World, for the onslaught that is surely earmarked for all of us who are deemed to be but Cattle, & those who have been assured are not Cattle but whom nontheless will be classed as expendable also, by the Bankster Illuminated Families, & their Cohorts.

    Yee surely know what is happening in Syria ;
    It is NOT a Civil War.
    It is NOT a war between Muslim Sects.
    It is NOT a war between Muslims & Christians.
    Rather it is a GENOCIDE War by the SATANIC Bankster Families — through their Proxy forces — upon those whom they view as mere Cattle overdue for slaughter.
    Iran is next.
    Then Russia & China.
    Then us.



    Éirinn go Brách !


    [ Your "Inventor",'Entrepreneur", "Industrialist" , "Writer”, & “Patriot” in Exile ]

    • bonbon

      DMcW sure does attract other “main attractions”, it must be magnetic, metallic Narcissism. Narcissist-in-Chief Obama is not the only One , ye gods of olympus !

    • Atlantean

      Correction ;

      100% Gold backe Treasury issued Notes

      Éirinn go Brách !


      [ Your "Inventor",'Entrepreneur", "Industrialist" , "Writer”, & “Patriot” in Exile ]

    • Atlantean

      The GENOCIDE War is directed from The Financial District of London.

      “Miranda” enabled the current Genocide of Iraq.
      “Mandy” too.
      Great Buddies of Jimmy Saville they were.

      Éirinn go Brách !


      [ Your "Inventor",'Entrepreneur", "Industrialist" , "Writer”, & “Patriot” in Exile ]

    • Good luck to you on your travels (seriously).

      Don’t forget your sovereign passport, it’s probably your most prized possession.

      The one with the big manky harp on the front of it.

      The cheek of them to tell me that I have to carry that around with me to visit men and women all over the world.

      They brand cattle too you know.

      One day soon they’ll be told where to stick it.

      • In the meantime I’m just playing their game and smiling with it but….

        wait for it…

        Tiocfaid Ar La!

        • Ryu Hayabusa

          Adam, there’s a Gaelgoir in there somewhere, I just know it!
          Happy New Year to you to boot.

          • Same to you Ryu.

            People are free to learn whatever language they want and good luck to them.

            My point, however (as I’m sure you have realised) is that I won’t put up, under any circumstances, with being told that I HAVE to learn such and such a language due to some historical connection.

            English is my native language and I also learned Hungarian and some French and Spanish for other reasons but if I don’t want to learn Irish, I’m not having someone else criticise it for me.

            Nor am I worshipping any fake sovereignty, nation, passport, flag or jersey, etc.

            That sort of carry on is for lemmings, heading for the nearest cliff.

          • Ryu Hayabusa

            Absolutely, I concur. That was said absolutely firmly tongue in cheek. :)

            This shambolic government being the ultimate case in point.They’re trying to shove appalling cack down people’s throats.. and expecting them to swallow it gleefully like an Oliver Twist. Playing a game of 3 card monty, attempting to convince people that white is black as brazenly as you please.

            The real lemmings are most of the sheeple in Fáil Eireann and the people who continue to kowtow to them.

          • Yep I know you were joking haha.

            I do have a sense of humour hidden in here somewhere.

            I remember a few Irish words from school, but not much. Not interested in learning any more.

            I accept that we do live in a country (for now) as much as I dislike the concept, but I’m a man of the world and one day people won’t be restricted by borders etc.

            This particular country, called Ireland, is a nice place, with massive potential and nice people (much like anywhere else) but it’s been ruined by colonization and then by 100 years of incompetence and corruption, which continues presently.

            It’s hard to see where and when that is going to change. I guess it will improve eventually if we take an optimistic outlook but I won’t be here to see it.

            There’s other places I like more where I will live and ultimately die.

          • Ryu Hayabusa

            Indeed. I heard this the other evening, reminded me of far away climes as it happens. Good tune!


  46. whatamess

    Has our host ‘gone native on us’ thinking or is it ‘feeling’

    when Kyle Bass ‘called it’ a “Mexican standoff” ,or what others refer to as a Catch 22, a rock and a hard place ,no wiggle room ,and all the while, the boom /bust bubbles are hovering precariously over a cactus field ! In such a systemic “closed system” we will be napalm’d again ,and again ,if no intervention.

    Intellectually and morally marooned on islands of gold and spontaneous growth from Tiger poo, an individuals’ Reason and Common Sense has departed, leaving some shipwrecked Tigers here resorting to drinking the sea water to quench their insatiable thirst for monetary tokens (resulting in death by dysentery)

    Even after the stark warning of the LTCM explosion, the undeniably orchestrated trigger event of repealing Glass-Steagall resulted in the unceremonious devouring of currencies and now entire economies. Civilisations next?

    With purpose and human design (and not with “invisible hands” or “dirt-to-prosperity” mantra ) , lets take Glass Steagall off the substitute bench ,to strategically score the winning goal for humanity and then a modern economic model of a future ,designed by science and our creativity can be BORN and not the death by a thousand cuts ,that’s currently in place in the Trans Atlantic region, with Zeeero physical economic growth for forty+ years!!

    That is REAL opportunity for mankind

    Glass Steagall , the archetype of financial reglation, is humanity’s compass to find True North

    “Clarity is Threatening” (Richard Dawkins)


    • Ryu Hayabusa


      Happy New Year to you… belatedly! You came out the other side of the yuletide intact then…? :)

    • michaelcoughlan

      “Zeeero physical economic growth for forty+ years!!”

      Such drivel. No houses, roads, factories, farm buildings, schools, universities, etc etc etc built in the last 40?

      Keep posting whatamess/bonbon. The more you post the more you damage yourself.

      • whatamess


        you refer to that list as physical economic growth ??? ..you’re just so so ‘practical’ Michael,it’s astonishing and frightening! Your list is but table scraps from the derivative cults’ FEAST of $14 Quadrilllllion…..’Spock’ would bitch slap you for being so illogical, considering “the obvious realities!” …’liberal finance’ has delivered casino economics where MOST are loosers,if they even get a single roll of the dice!

        How about US healthcare ,hell, give Ireland’s a mere glance! This is physical economic growth/progress ??…not by a long shot!!! Our growth has been but a single shovel of sand from all the beaches of the world!!…no wonder Lyndon LaRouche’s innovative proposals of MEGA projects doesn’t compute with you.You need software called ‘willing to explore with a truly open mind’

        You have no clue of “a science of physical economy” and that’s a testament to your monetary centric ,free market,pseudo-liberal indoctrination.[If Bonbon was to gift you next week's lotto numbers,your mental rigidity and stubbornness, would prevent you from buying a ticket!]

        I would repost Mr.Bonbon’s insightful link of ‘limits to growth’,and why there are no limits, but really ,why ought i even bother in fairness ? you’re just not interested…[yunno in a previous life, i imagine you were a respected advisor to the Rapa Nui people;) ]

        • whatamess

          This link is one of the very best I’ve read anywhere..( even a more worthwhile read than “The Tower of Babel”, ahem, Basel ;)


          National physical economy vs Imperial finance (represented by concentrated “independent” central bank monetarism, as Bonbon summed it up months ago,in fairness!!…)

          As discussed at length in earlier threads,we NEED a “top down” modern, scientifically principled approach for our economies , NOT the contagion of irrational pursuit of “bottom up” economic models that are entropic, reductionist ,monetary centric ,leveraged by jackals and their synthetic ‘instruments’ of debt and misery and rooooooted in a cultural, yes cultural ‘faith’ in monetarism and a future of spontaneous economic growth,ordering itself in unknowable ways,as was Hayek/Austrian deluded ‘beliefs’ and yunno also the Keynes school too, whose silence betrays it’s allegiances…What a fu**ing sham!!!!!

          Let’s get Real ! But it needs to be us ALL together,the will of the people ,who are MANY ,and the insatiable financial empire, who are few!!!

          Glass-Steagall first, then Hamiltonian National Banking for humanity being “principally engaged” in a designed future, of a science driven political economy !!

          Carpe diem

          We are at the moment of critical mass and “We need men who can dream of things that never were and ask why not!!”

      • michaelcoughlan

        World population 40 years ago 3.85bn.

        World population in 2013 7.


        Huge increasing physical human beings alone. Never mind all the extra infrastructure required to support such a rapid increase In population.

        The only thing reductionists is what was done to your self esteem when exposed to the cult that captured you. That allowed them to take complete control of your mind. I hope your employer doesn’t read the drivel you post on this blog.

  47. Ryu Hayabusa

    Typically O’bama was first in line to lavish praise and wax lyrical about the ‘Butcher of Beirut’

    Don’t think Mahmoud Abbas will be quite as “weepy” on the passing of the rotund Sharon.


  48. Ryu Hayabusa

    Mixed Messages coming from Greece. PM Samaras saying they will exit the bailout this year.
    Evangelos Venizelos warns they need a better deal. Plus talk of needing a 3rd Bailout at end of 2014 on their €240 billion debt pile. (Maybe ‘rescue programme’ would sound more sanguine!)

    As our host D McW illustrated in the above article’s table the disconnect between interest rate and the debt ratio of Europe’s most indebted nations, well it is indeed nonsensical and glaring.. and becoming more pronounced.

    As Greece enters the initial stage of its 6 month term in the rotating presidency it’s current bond rate is hovering just under 8%! This is obviously bananas… Counter reality stuff. 22 months ago the rate demanded was 39/40%!!! Enough said.

    How much longer can this charade endure? Greece can not remain within the euro zone much longer. ‘Euro Zone’,, It’s quickly morphing into the ‘Twilight Zone’


    And who engineered this debacle? …G Suchs.

    • Look beyonf
      g-sucks RYU. they are one of the puppets on the string.
      Look at the money managers, the Rothschilds etc. Look to who controls the BIS. Now you are getting closer :)

      • Paul Divers

        That’s about it. This is why they rely on a consumerist mass media to bombard and turn the brains of the masses to a pulp.

      • Ryu Hayabusa

        Yes Tony. The sticky web has the BIS at its centre.

        In the Greek context, the financial sleight of hand perpetrated by GS allowed them to ‘meet the criteria’ to enter into the currency bloc in the first instance. This has turned out to be an act of sheer folly.

        I acknowledge that the shadowy BIS is the keystone at the top of the credit pyramid! :)

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