January 13, 2014

Waiting in Vain for a Loan

Posted in Banks · 357 comments ·

Imagine the real economy in a pair of tight bottle green flairs, the likes of which you could hide a six back of Harp up. Imagine the perm, the bomber jacket and a luxurious ‘tache’. It is pure 1970s. The soundtrack is somewhere between the Bay City Rollers and Rory Gallagher’s Calling Card. The best footballer in the world, Johan Cryuff, smokes at half time; people make “trunk” calls and drink Cadet Cola. And most crucially, from an economic perspective, like in the 1970s, there is no credit.

Now consider the financial markets where the government borrowed the other day. It is a globally interconnected world, operating 24/7. It’s a  “totes amaze balls” casino, all Nikki Minaj, the XX, I-phone 5’s and Ronaldo preening at half time. And most importantly, there’s loads of credit for the government. It is quintessential 21st century economics.

The State – the most inefficient part of the Irish economy governed by 1970’s work practices – which competes with no one, can get all the money it wants at 2014 rates of interest. In contrast, while the domestic business, which competes all the time, every day, everywhere with everyone in the 21st century 24/7 world, can’t get working capital. It plays by 21st century rules but is governed by 1970’s financial constraints.

Thus the part of the economy with 1970’s work practices has 21st century capital and vice versa.

This past week the papers were full of triumphalist stories about the country borrowing on the financial markets. The spin was that Ireland was in some way unique – a former “bailout” country being able to borrow again. Portugal did the same this week too and it is not even out of its bailout yet! It is part of the large financial casino where money is no object.

But like a real casino the game is rigged.

In reality, the ability of Ireland to borrow is based on the fact that the financial markets believe ultimately the ECB will buy up bonds of peripheral governments and save the Euro from further jitters. So it is not a real market that assesses risk and reward, it is a subsidized one-way bet for lenders.

Legally, the ECB is debarred from buying 10-year bonds, but it will get around this by buying shorter-dated bonds (government short-term IOUs). Because the threat of deflation is very real all over Europe, the ECB knows it is going to have to prevent this. It will do this is by buying government IOUs that at present sit on the balance sheets of the banks and give the banks cash in return, keeping interest rates very low. Thereby it hopes to compel the banks to lend.

This action will have two definite results. First, it means that the central bank is financing the governments via the back door. In addition, while it might inject liquidity into the economies we can be certain that this ECB move will definitely force bond rates down and thus prices up, giving lenders a tidy profit.

That is the 21st century, sleight of hand economy where finance, politics and trader capitalism reign supreme, impervious to its own mistakes, relying on the “too big to fail doctrine”.

Back in the real world, credit in Ireland – and all over Europe – for small businesses is practically non-existent.

The economy here is experiencing a fragile, credit-less recovery- more 1974 than 2014.  Without credit, spending has to come from income and this is what is happening.

Consider the data released this week.

Unemployment fell again last month showing that there is an economic pulse, faint enough, but a pulse nonetheless.

But what is financing this small upswing in local demand, which is thankfully coaxing people to employ other people?

The key to the change in the economy is income.

The most important figure in the real economy is disposable income. Income is everything: Income determines spending. If your income is rising your potential spending and/or saving is rising also.

Far too much attention in Ireland is paid to gross domestic product. It is the figure that those that want to paint a falsely rosy picture of the country, whether they are bond salesmen or government spin-doctors, deploy. But GDP is nothing more than all the production in the economy. Aggregate all the production together and then divide this by the amount of citizens in the country to get a GDP per head figure.

This figure is meaningless because if Viagra sells lots of pills for erectile dysfunction it is production, but it has no real impact on the rest of us. On this basis, Ireland is a very wealthy country indeed. GDP per head in Ireland is €33,000. If used to measure the welfare of the Irish people (vis a vis the rest of the world) everything seems hunky dory.

Be warned – it is lazy shorthand. We know because we live here that this figure is not accurate and it overestimates the wealth of people here.

A much better indicator is disposable income. On Friday the CSO published disposable income for the third quarter last year.

According to the CSO

“On a seasonally adjusted basis, the quarterly gross disposable income of households in Q3 2013 increased by €164m to €21,561m compared to the result for Q2 2013 of €21,397m”. 

The first thing you will notice is that disposable income per head in Ireland is far lower than production per head. It is in fact on 35% lower. By looking at income, we begin to see the economy as it is and not as we would like it to be.

Of this income, spending increased by €215m to €19,754 per head during the three months to autumn and this means that total household saving decreased by €51m in the quarter. The derived gross saving ratio, which expresses saving as a percentage of gross disposable income, decreased from 8.7 per cent in Q2 2013 to 8.4 per cent in Q3 2013.

As the savings ratio falls, we begin to see how the recovery is going to take shape.

People are reducing savings gingerly each month. The process is slow and gradual but it is moving in one direction – towards more not less spending.

Normally at this stage of a 21st century cycle, the banks will aid the upswing by extending credit. However, lending figures published this week show credit falling again as banks hoard cash ahead of the next stress tests later this week.

As a result the real economy is stuck in the 1970s, while in the twilight world of government borrowing, the 21st century reigns.

David McWilliams daily finance and economics newsletter is out now ww.globalmacro360.com. Sign up today.


Subscribe to receive my news and articles direct to your inbox

  1. The realities of state/corporate/consumer debt remain hidden in plain sight, prepping the next leg of the crisis which will unfold once the Shale Ponzi/Cheap Peak Oil clusterfcuk unmasks the charade of inflating the cheap energy Credit Bubble once last time.

    Ireland is currently in the slipstream of the UK pre-election credit binge. When that implodes, with the slightest of raised interest rates, the truth will emerge. The longer Mark Carney avoids/evades the toxic reality of boosting Boomers by “Help To Buy” easy housing credit ‘confidence’ the worse the downswing will be.

    “Deleveraging in the United Kingdom and Spain is proceeding more slowly.
    The ratio of UK debt to GDP has continued to rise and UK households have
    increased debt in absolute terms. In Spain, households have barely reduced
    debt ratios and corporations continue to carry the highest level of debt relative to GDP in our ten-country sample. It could take many more years to finish an orderly deleveraging in the United Kingdom and Spain.”


    The McKinsey report is 2012, but the UK is even more delusional now. As is Ireland. I enjoyed reading it as it covers the whole Nordic response to their 90s debt crisis and shows how far away from sustainable debt the UK and Ireland remain.

    Yes, there is real growth in industrial production of Land-Rovers and Rolls Royces in the UK to sell to China, and I assume there’s some growth in agricultural exports from Ireland, but when China is forced to face reality.


    NB: “Next Big Future” is a Cornucopian Techno-Singularity collective which evades the geo-physical realities underpinning economics in favour of ‘human ingenuity’. Like most economists do.

    • And Alistair Darling will get his job back.

      His true destiny is yet to be revealed.

    • Nobody addresses the fundamentals of debt and credit, Andrew.

      It is the same old Keynes clap trap.
      When the private sector goes into recession the public sector must increase spending and then when the private sector recovers the public sector must “deleverage”.

      Nobody addresses the question of why there was too much credit. Why debt accrued. Why the bubbles grew. Why the bubbles burst. Why there was so much “leverage” that has to be “deleveraged”.

      Looking at the Austrian school of Economists, they are the only ones who have an explanation for the above and what to do about it. They are the ones who warn “A debt based boom will inevitably result in an equally large crash” Always has., always will.

      The fundamental problem as I see it, and repeat ad nauseam, is our money system.

      Every piece of money issued, barring coin, whether digital or paper is issued as a loan; that is a debt. This debt bears interest. The money needed to pay the interest is not issued into circulation at the same time as the initial debt. Therefore the interest cannot be paid without using the money from another source. That means for example if ten people borrowed 100 each for a one year loan, at 3% interest there is 1000 in loans to be repaid plus 30 of interest. Only 1000 of money was issued for the loans. The first nine people will find the money to pay the loans plus interest which is 927. The tenth person is 30 short. The money does not exist for the repayment.

      What to do Andrew? Why loan 100 to an eleventh person. Now the 10th can find the money in existence and takes 30 from the eleventh and pays the loan plus interest.

      However the eleventh is now short 33 and so requires a 12th person to borrow. This process must continue to infinity or the money system collapses.

      This is where we are today in 99% of the world. The money supply must be constantly expanded in order to prevent a world wide collapse.

      However it takes ever increasing speed of addition as the growth of the interest eventually becomes exponential and impossible for the economy to pay. We are at that phase.

      We are in the final stage of an economic boom, the mother of all booms that will collapse under its own weight of interest accrued. We are in the early stages of the mother of all busts.

      Fire , plague, pestilence and war will not avoid this.

      Do you see this Andrew?

      There is a solution. Not without pain, but easily accomplished with the will of the people and determination and proper leadership.

      The current money system must be revoked. Abandoned. Cast off. Thrown aside.

      Fire the central banks who issue this debt based money at interest.
      Replace the money on a weekend reset with money issued from Treasury, debt free bearing no interest. (I’ll not continue with the rest of the necessary changes as they are already presented).

      Andrew, the first thing is to remove the cause of the problem and then the recovery can begin.

      • Tony, I agree there is a crisis with the money system. However, that cannot be solved by Glass Steagall type reforms without imploding the Derivatives Superstructure of Debt.

        Collapse is inevitable and in the debris, many of the ideas of Positive Money type organisations may be useful in attempts at rebuilding the legitimacy of the Nation State, although the true reality of Central Bank integration with Corporations and the betrayal of the Nation State Project is hard to explain to people:


        NB: I do not endorse The UK Column, but merely note with interest their succinct, explosive debunking of the whole Central Bank scam.

        Money is a political and social construct. You can’t discuss it without also discussing the institutions of State, Corporation and Citizen.

        I personally no longer identify with any Nation State project as a protest against the betrayal of the Citizen by the Government and Corporation working to undermine “Patriotism”. This is especially relevant to the history of The First Irish Republic of 1916-2016. Post-Irish, Post-English, Post-”British”, I watch in fascinated despair at the Privatisation of Hope, in the belief that Guns, Gold & Baked Beans is the answer for anyone other than crackpots in Montana and Mayo.

        As a part of this protest, I now only grant allegiance to my family and wider spiral tribes of Osraige-Leinster and Ackers-Mercia. Unless and until the traitorous goverments of the world stop fluffing and being felched by Corporations I have no intention of articulating my rage within their frameworks of cognitive control. Instead, I dismiss and ridicule them. A crucial part of that is to mock “Economics” of every persuasion, the glut of Energy in the last 100 years meant that almost any ridiculous version of the cult would have made a decent fist of producing some version of Industrial Civilisation, but now we face the end of that era and the challenge of finding a sustainable matrix that honours family, tribe, nation-state and, yes, corporation. I’m a Capitalist, but do not accept Blood-Line Capitalism Privilege as exemplified by the D4 crew and the British Royal Family.

        Behind the window-dressing costume dramas of history, there’s very little difference in the staggerign betrayal of Citizens by both the UK and Irish governments who, like every government worldwide, need to sever incubus/succubus links to predator Corporations. Without reform of the Law of Incorporation, everything else is window-dressing.

        Finally, reforming both Money/Credit and the Law of Incorporation is predicated on understanding what Money and The Corporation are proxies for: Energy. No sustainable solutions are possible without addressing the cost, availability and quality of energy. Fusion has been touted since the 50s, it hasn’t happened. Any new ‘bridge economy’ of Renewables is entirely dependent on fossil fuels to be available to construct it. Meanwhile, everyone else has started shopping again and are lost in the trinkets and baubles of i-Device Tamagotchi Culture.

        This is just a sketch, it really needs a book, which I’m working on when not wasting time on Teh Interwebz. Or smoking a spliff in my pyjamas watching afternoon t.v etc.

        • “I personally no longer identify with any Nation State project ”

          Good man Andrew, welcome to the club. It’s an exclusive club of open-minded people.

          Most people don’t even understand the concept that countries, nations and sovereignty etc. are totally false – that’s because they’ve been brainwashed by all this ‘pulling on the green (or whatever colour) jersey’ CRAP all their miserable lives.

          I’m glad I convinced you about this over the last year.

          It wasn’t easy to unwrap you from that TRICK-Colour.

        • whatamess


          “Collapse is inevitable” …As magnus would say ,corrrrrekttt!

          so an orderly or disorderly crash are our choices…

          which is it gonna be?

          Looking to the future,let’s not use our rear view, merican mirrors ,all the time yea? …we might miss what’s Ahead of us?!

          “Fusion has been touted?? since the 50s, it hasn’t happened.” Why do you think that is?It’s a rhetorical question…you know exactly why ,but write your comment like the Science isn’t there maybe,when of course it is and has been for decades?? No oxygen is given to that flame however, by design of course!

          That’s the essence of empire … to suppress progress,and Energy ,as you have said ,is KEY

          where’s the disconnect?

          Strip wall st bare and then we’ll see how big that pyroclastic mountain of debt really is and if we don’t, the laws of physics kick it and that scenario ,won’t even leave “debris” …we are at the 11th hour

          And “Without reform of the Law of Incorporation, everything else is window-dressing” ..i would be very interested for you to expand on that a little another day..just meat on bone stuff,cheers

        • I agree basically with the set of your comments.
          Nation states are what we have still with national currencies.
          You gloss over the singular question of the debt based money supply. It is the cause of the expanding debt and the ever enlarging share of the economy that is attributed to the payment of interest.

          I have constantly refuted the suggestion that a Glass Steagall type adjustment will have ant significant effect to better the problem.

          I will paraphrase, Without the reform of the money system all else is in vain.

          In the absence of any consensus in the community to rid us of the central banking fiat Ponzi scheme then as a private individual I must do what I can to protect myself from the coming deluge.

          As you say, loyalty to self, family , friends and tribe in that order.

          I still believe that a country can protect its citizens by adopting treasury money and repealing the legal tender laws, and doing so immediately will avoid catastrophe.

    • “NB: “Next Big Future” is a Cornucopian Techno-Singularity collective which evades the geo-physical realities underpinning economics in favour of ‘human ingenuity’. Like most economists do”

      How would you like to translate the bafflegab

      • Tony

        The ‘economy’ consists of planetary resources turned into consumer goods and experiences by Industrial Civilisation.

        Some people believe that human ingenuity can overcome any and all shortages of resources within a closed planetary system, usually by inferring escaping The 2nd Law Of Thermodynamics. Such people are Cornucopians who believe in a technological future which results in Singularity whereby human/machine intelligence endlessly adapts and finds solutions to all problems.

        Other, like me, think this is nonsense, and that the crises of Abrahamic Biblical Economics, Carnism and Speciesism are destroying the Capital base of the planet, it’s biodiversity and ancient legacy of fossil fuels in a mad orgy of delusion. The current iteration of ‘economics’ is almost entirely locked within this framework of understanding, hence it is largely redundant.

        A more detailed explanation of some of the ideas underlying my thinking are to be found in the following article by Eric Janszen, though he is only a part of the jigsaw I have pieced together.

        Money is a proxy for Energy. Despite the claims of Shale Evangelists, the costs of energy have not declined precipitously in line with the discovery of a new, abundant source of energy for economic resurgence. The price of energy WILL collapse when the superstructure of ‘money’ which is the Derivatives Casino Economy lurches into its’ next stage of chaos. Meanwhile, most people have breathed a sigh of relief that the engines of credit are whirring again, not realising that this time the deflated balloon will burst spectacularly once the interest rate cycle turns.

        I write in a shorthand but I assure you, it’s hardly ‘bafflegab’! The fact it’s an original analysis of reality disturbs many, but I don’t care about Herd Culture as I’m, y’know, a bit of an Outsider. I trust this clarifies some of my thinking. Thank you for your enquiry.


        PS: Very tempted to join David’s new 360 site for the lulz, but I took a pledge about gambling, as did Eric Janszen. His track record is extraordinary, though he’s musing about the fall in metals and Bitcoin so I’ll wait for his next update before deciding whether to rejoin the casino or ride it out to retirement on basic rations, etc.

  2. McGoo

    David, I don’t see the point of this article. It tells us nothing that we didn’t already know.

    • michaelcoughlan


      I got something new from it. McWilliams identifies that spending is coming from income and not easily obtained credit. Wouldn’t it be great David if we could move that up another notch and get people spending from savings? The banks then could go to blazes.

      • Yeah, that would be great Michael.

        Or even better – herd them into bitcoin!

        Ho ho ho Merry Christmas!

      • Adelaide

        I disagree. I read into it that we have decreased savings and increased spending. Conclusion, people are spending/eating into their savings. This spent cache of extracted savings increases other’s spending power through the Momentum of Money.

        • bonbon

          right, and since they will not eat that fast enough, bail-in is ready for take-off.

          • Adelaide

            Yes, there’s an interesting scenario, how will diminishing savings affect a future Irish bank bail-in? As David said in a previous article, after this year’s bank stress, the money for bank recapitalisation will not be coming from Europe or Irish taxpayers, thus a bail-in, but what if there is insufficient savings at that point in time? Will they grab every meagre deposit regardless? Or will they do a quick calculation now, realise their dilemna and pre-emptively act before any stress test?

          • bonbon

            The bail-in “to protect taxpayers” will come from their deposits. That’s explicitely stated, posted here repeatedly. That’s sophistry, as if you had a choice. The SRM will ensure this. Asmussen from the ECB to Berlin now, said over christmass it must be efficiently done over a weekend to give no chance for a run.

        • michaelcoughlan

          Hi Adelaide,

          Your analysis is incorrect. Let me explain. Its great that bonbon the crazy has responded because I can once again highlight how Nonsensical they are.

          When people work they produce valuable goods and services which they trade for money. In other words they increase the amount of valuable assets available every time they produce something. This in turn leads to an increase in a requirement for extra money to facilitate trade. Otherwise the existing value of the item used as money would increase in value.

          Example; if an economy on an island produces 100 tons of canned fish food every week and the profit is €5k then the extra value added is €5k. The money supply will have to increase by this amount to keep the per unit money item at the same price. Example if the unit of money is
          1 litre of petrol at €1.5/litre the money supply will have to increase by 3333 litres of petrol assuming everything else is equal. MONEY IS ONLY A TOOL. It’s not the bogey man bonbon thinks it is. Idelogues like them and the monetary madmen in control of the fed are the problem.



          • Adelaide

            Hi Michael
            What in Allah’s name are you talking about? Canned fish food? 3333 litres of petrol? What are trying to say, your point is being lost in translation?

          • Atlantean

            Hi Michael,

            U are definitely a smart man.

            But, I think that ur understanding of Money is flawed.

            General Scenario
            OR if u wish
            Closed Economy Scenario ;
            No Import / Export

            Exchange of Value [ Goods & / Services ] can occur without any “extra” Money introduced into that Economy.

            Reflect on 2 of Money’s Attributes :

            Medium of Exchange [ of Goods & / Services ]

            Catalyst [ for the Exchange ; The Money does not get consumed during the Exchange ; Rather it still exists afterwards ]

            Import / Export Scenario

            Think of that as a System that INCLUDES both Parties.

            Then the remainder of above Explanation is true here also.



          • michaelcoughlan

            Hi Adelaide.

            Ok. Lets just say you are a hairdresser. Lets just say hyperinflation has set in and cash is valueless. You have to barter your skill in exchange for the goods and services you require from people with skills you don’t posses or seashells which is now an acceptable form of money to all. In this instance let us assume that seashells are scarce and don’t rot and can only be increased in total number by 6% per year due to the difficulties of recovery from the beach.

            You produce 20 haircuts per day at 1 seashell per hair cut. You earn 20 seashells per day. You trade 17 of those seashells and all your requirements are met. You have 3 seashells profits which you save. Next week you have 3 seashells profit also. Now you have 6 sea shells savings. So long as you keep producing 3 seashells profit per week from that point on you will be able to spend 3 seashells per week WITHOUT having to dip into your savings of 6 seashells.

            Capacity to spend comes from the VALUE ADDED part of the Entrepreneurial activity NOT from the spending of other peoples money. If money isnt available people barter or write iou’s which are a form of asset backed currency.

            Example; a farmer has 30 cows. Each has a calf in the spring so now his heard is 60. He sells 30 in Autumn. His profit in his hand after his expenses derived from his skill to add value NOT from the spending of other peoples money. If he couldn’t sell them he could barter with local butchers or the farm depot or what ever with an iou which would circulate with based on the farmers good name in the community.

            MONEY IS ONLY A TOOL. So long as the individual has a tradable skill that’s what really counts.

          • michaelcoughlan


            To make it even more simple. Lets just say that I produce chickens and you produce spuds. I chicken equals 5kg of potatoes.

            If at the end of the season you have 100 kg of potatoes you can spend them to purchase 20 chickens from me. MONEY doesn’t even enter into it.

          • Adelaide

            Chickens, eggs, sea shells, haircuts, cows, potatoes. Ah yes, forgive me, Michael, now I understand your logic.

          • bonbon

            If a garage mechanic changes the oil for a pimp’s or drug dealer’s auto, has the payment the same economic worth as changing the oil for a farming tractor. For that matter what about a tractor for planting food and the same tractor for biofuel – which oil change has more economic value for the same hourly mechanic’s fee?

          • whatamess


            i think we all know where you are coming from Michael..

            don’t sweat the small stuff dude

          • michaelcoughlan

            hi Bonbon,

            Very strangely I find myself taking you serious on this occasion. The answer to the questions you pose are simple. If a tractor is needed to produce poppies for the drug dealer and the economic value as you put it of the crop of poppies is greater than the equivalent food which can be produced from the same piece of land then the value of the oil change to the drug dealer is higher. If there is only one gallon of oil left to service one tractor the garage guy can auction the oil to determine the highest price which the drug dealer should be able to pay more for than the farmer producing food. The same dynamic applies to the biofuel versus food question. I suspect you know the answer already however.

          • whatamess

            has anyone noticed when they turn the page to “newer comments” that some posts dissappear,and then some time later, reappear…its not a conspiracy theory but ive encountered this plenty of times? just askin if im alone in spotting this…a sortware glitch after 200+comments?

          • “has anyone noticed when they turn the page to “newer comments” that some posts dissappear,and then some time later, reappear”


            I am just looking for a post of Andrew’s that has the lines ‘raving away’ (I use control F on unusual words to navigate the blog – ridiculous) in it but it’s not there.

            It’s a disaster navigating the blog, a total shambles. I think I’ll just stick to the emails in future even if it means I am going to lose some of the context because I am just wasting too much time.

          • whatamess

            “wasting time” is exactly right Adam!!!…this site could function much much better and i don’t imagine it’d be that tough either …maybe 20 dedicated hours by a compooter whizz,job done

        • Read again

          “The derived gross saving ratio, which expresses saving as a percentage of gross disposable income, decreased from 8.7 per cent in Q2 2013 to 8.4 per cent in Q3 2013.”

          The savings rate declined slightly. Still a hefty saving rate. Savings are still increasing!!!!Hello , hello, anybody out there??


      • CorkRob

        It all seems a bit too nicely academic for me. I have a wife and 3 kids and certainly we did not spend nearly €100,000 in disposable income in the last 12 months to Q3 (€19754, x 5). This is a ridiculous figure and shows no relevance for almost 90% of the population who support families on less Gross Income than this in a year.
        The reality for many is far more grim and it will get worse if we do not set about removing the nodding dogs in Government and creating a new political force who understand finance & economics and are prepared to take the hard necessary steps to grow us out of this mess. (PS I am not a Leftie !!!)

        • Atlantean

          Hi Cork Rob,

          Please do not put ur Hopes in Ireland getting a Messiah Politician.

          Unfortunately,- the Caliber of people we have in the country now sucks big time.

          Have u not noticed that most of the folks are gone rotten ?

          Anyway,- please wise up as many people as u can in Cork ss to the overall Scam being pulled on the Irish Nation.

          Ref. This Blog
          The Best Explanation is by TONY BROGAN on this Blog.

          U must stop to do a little bit of new Thinking !

          Ref.Internet Video with Transcipt underneath

          The Best Explanation is by Br. N.
          Br. N for sure is NOT boring.
          He is MOST truthful.
          The Truth is Exciting, & Liberating.
          Be sure to get as many people u can in “The Rebel County” viewing Br N.
          Cork Folks should support Br. N.

          Happy Viewing !


          Excellent Advice for everyone is Christ’s Advice really ;

          Be as Wise as a Snake ; Whilst being as Innocent as a Dove.

          Also, Re ; Savings / Nest Egg ;

          “Exchange” ur Currency [ Euro, UK Pounds, etc ] for Gold Coins & Silver Coins in Mint Condition
          Canadian Maple Leaf Coins
          USA Eagle Coins
          Austrian Philharmonic

          But, difficult for u to do this because Ireland NOT familiar with this REAL / SOUND Money now.


        • Atlantean

          Hi Cork Rob,

          This is alternative Hyperlink for Br N ;
          The Elite are very worried of Br N.
          Br N has “the inside Track”.
          The Info. is coming u could say from the Horse’s Mouth ; And, it is not Horse S…t 8-)



        • Paul Divers

          Tell us about these hard steps please.

    • And how would you ‘see’ it anyway?! – McGoo?!

  3. michaelcoughlan


    “Because the threat of deflation is very real all over Europe”

    When you say this it perplexes me as I see stagflation. If the people in charge are fearful of deflation is it not in the derivatives economy where the banks are making obscene profits and not on main street where real businesses exist?

    The real inflation rates are way higher than offical figures. Like I said before diesel at the pump is 50% higher than 5 years ago. Healthcare premiums like vhi etc are skyrocketing. Public transport costs, taxes, etc etc all higher. Are these increases not a result of the input costs in goods rising due to commodity prises rising as a result of speculation in commodities on the markets? Add to that wages have been slashed. Therefore the real cost to the buyer of filling the car with diesel costing 50% more now than 5 years ago from a smaller weekly wage translartes into stagflation as I see it. Imagine if the liquidity thats been given to the banks to keep them from imploding had to be directly injected into the high street economy to keep going the effect that would have on inflation. It would skyrocket.

  4. Atlantean

    From my detailed Analysis of all the Contributions to this Blog,- I note the following as of MAJOR NATIONAL IMPORTANCE ;

    Tony Brogan ;

    For his superbly logical, & easily understood, & “gripping”, Explanations of :

    The Central Bankster Scam

    The Fractional Reserve Bankster Scam

    The General Flaw of Treasury issued Currency WHEN it is Not Gold backed

    The Economic System necessary to introduce for to SOLVE EVERYTHING.

    Deco ;

    For his brave, & truly patriotic, elegant telling it as it is Re ;

    The Total Stinking Corrupt State that is Ireland

    Politic Class Ireland,
    Corporate Ireland,
    Civil Service Ireland,
    Quasi-Civil Service / Quango Scene Ireland,
    Professional Class Ireland,
    Corrupt Union Leaderships Ireland,
    Media Ireland,
    E.U. Agenda Ireland [ Deviation from just being a Common Market ], False Irish Patriotism,
    Pseudo Intelligentsia of Ireland,
    Pseudo Think Tanks of Ireland,
    The Drinks Industry Corporates of Ireland
    Pseudo Economists
    inter alia


    Lest Deco not see this post,- please, please, my fellow Posters bring it to his immediate, & regular, Attention.

    The country needs Deco’s Affirmation of “THE GOOD SENSE SOLUTION”.

    I think that he is an Engineer ;
    And, it is vital AND urgent that “proper” patriotic Engineers convene, & assert leadership for to save the long suffering Irish citizens from the Dictatorship of the misandrist, & anti-family, & elitest, untouchable pernicious Sociology-Psychology-Political Pseudo Science Complex also.
    The hope is that the Engineers will have a respect for the toil of the Laborer [ Self-Employed, Employee, Jobless, Student, Mother, Father, Child ], & rid us of the Spivs & Spiveens.

    Éirinn go Brách !


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

  5. Atlantean

    This Subject Matter has a close Connection with Economics, & Politics, of Ireland ; Not just the International Scene


    Jimmy Saville, & others of these Rings, operated as Spooks also.
    And, they have been closely linked with the Politicos of Ireland.

    The above MP could not possibly have been “MIRANDA”.

    “MIRANDA” is someone very connected to Irish Political Affairs.

    Yee all have discussed “MIRANDA” a lot on this blog.

    It is a bit of a SHOCKER really when u learn about “MIRANDA”.

    Éirinn go Brách !


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

  6. Atlantean

    Thank u to Pauldiv / Paul Divers for giving the Link to this great Defender of our fellow man ;
    Here is another such Link.



    Éirinn go Brách !


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

    • Tin-foil hat. Lots of CAPS! Jewish conspiracy chestnuts. Aliens and lizards next?

      • Atlantean

        Silly Response


      • Atlantean

        Elaborated Reply


        Ur Reply was :

        Misrepresentation of Substance of above Hypelink
        wrongful Response
        malignant Intent
        lazy Thinking

        & plain “silly”

        Again, thank u to Pauldiv / Paul Driver for originally giving Hyperlink to the Source with the Inside Track on exactly who controls :

        Bank of International Settlements [ BIS ]
        All the Central Banks thereon underneath the BIS
        Fractional Reserve Banking System
        All Politicos who are working against every Nation
        [ Unless u can think of some Exception :)]
        Agenda of Discussion AND Speech deemed “Politically Correct”
        Spooks such as Jimmy Saville ; Any stuff about him in Birmingham by the way ?
        Proxy Terrorists
        inter alia

        Oh, lest I forget,- effectively u & me & David et all also.


        • *sigh* One final response. Confusing/conflating self-organising, self-replicating spheres of power, control and influence with a conspiracy theory about ‘Jewish Bankers’ is profoundly silly. Here’s a dose of reality for you:


          It’s possible to have a debate as to how these spheres of influence emerged but not within the context of the site you link to whose name alone disqualifies it from serious attention, never mind the ridiculous clown “Brother Nathanie” whose video you link to is unintentionally hilarious.

          Please remember that you are legally liable for any racist or libellous comments you make on this or any other website. I post in my real, legal name because I stand by every word I write. Well, except the drunken conspiracy theory raving on Social Media, but that’s all moar lulz stuff and nobody takes it seriously if, indeed, anyone even reads it. You’ve gate-crashed this site like a drunk at a party and it’s time to call the bouncers from the club across the road. Remember: Your “Atlantean” moniker doesn’t shield you from being traced by the Garda or NSA-GCHQ if you cross the line into overt hate speech instead of merely linking to it.

          I have fun with reading out-there ‘conspiracy theorists’ as it can be a useful trigger to serious rational thought, but I can’t see anything useful emerging from your ruminations or those of this pantomime troll “Brother Nataniel”.

          There’s a serious discussion to be had about Nation State goverments gifting the power of credit creation solely to private sector banking corporations, but you’re not part of that discussion. You might want to begin a process of cognitive rehabilitation by educating yourself on the rational debate on this topic:


          It’s a UK link, but y’know, the City, IFSC, Wall St, Illuminati, Bilderberg, it’s all the same, innit? *rolleyes*

          • Savile in Birmingham? Yes. It’s in the hands of the West Midlands Police right now. But, y’know, factual audit trails of evidence stuff linking the Birmingham Six to Hillsborough to South Yorkshire Police to Savile. It’s one thing to suspect/allege, it’s another to prove. I’m into Reality and Legal standard evidence. If you have any on Papal/Royal Knight Savile’s trail of destruction, present it to an Garda Siochana. OK? Cheers!

          • Atlantean

            Look at my Post to immediately previous Article ;

            Young Boy Brian Rossiter murdered in Garda Station.
            Skullduggery in the Investigation too.
            Harrowing Experience for family to get the trickle of justice they got.

            Ineffectual Garda File on Dublin & Monaghan Bombings stolen from ultra High Security Dublin Castle HQ of Garda Siochana [ They who guard the Rich ( incl Themselves ) ].
            Garda involvement in planning & execution of D & M Bombings.
            Same said about Ommagh Bombing ; Certainly MI5 & MI6 Operation in both those Atrocities.
            Looks like Birmingham Bombs were MI5 MI6 job too.

            Also, reflect on Deco’s regular Comments on the Rigged Injustice System ;
            Annabelle’s Nightclub “Murderers” were facilitated with escaping Prison.
            Too Rich & Snotty to Jail !
            Reflect on notorious DPP & Garda handling of little boy MURDERED in Midleton, Co. Cork.
            Little Boy’s body burnt too.

            etc. etc

            Andrew, I think u will agree that there is no Justice there in either Countries.

            At least, UK is more honest with admitting that most of their Coppers are “bent” ; Some also sexually so

            All this Corruption affects the Economy, & Spirit of the Workers [ Employers, Employees, Jobless, Mothers, Fathers, Children ] very negatively.



          • Atlantean

            I just seen ur actual first reply ;
            U are totally out of order with what u said.
            I did not render any hate speech whatsoever.
            Any Links I refer to are totally legally permissible in all jurisdictions.
            In fact the Br Nathanael Link I discovered on this Blog prior.
            Otherwise I did not know of it.

            Actually, it is u — through ur unfair & unwarranted accusations — who is being insulting to any person.
            That is hateful.

            I do notice vast ramblings by urself that do not refer to the Economic-Financial-Political Matter at hand.
            I do not recall any cogent explanation as to Sound Money, or how the Currency System operates emanating from u.

            Everything I have referred to is related to the matter at hand.

            Please develop a sane, & open-minded, perspective.

            Do not be childish & silly.

            The nature of my contributions — sound & legally acceptable as all of them are — do in no way compare to the typical content of most of the main Irish media blogs where in their case they are for the most part indeed laden with tough statements, & tough language also.
            Many are racist etc in my opinion.
            I would never behave that way.

            I deserve an instant apology from u Mr. Andrew G Mooney.


          • “I deserve an instant apology from u Mr. Andrew G Mooney.”

            Guess what? You ain’t getting one. The site you link to is profoundly anti-Semitic. Re-read what I actually wrote. I didn’t say you’d crossed the line, only linked to a site that has. And you’re wrong. There are different laws in different jurisdictions.

            Having perused that site further, it’s beyond offensive. You only make yourself look ridiculous and extremely dodgy by a) linking to it b) protesting when someone calls you out for doing so. If you actually copy,paste and endorse some of the wilder elements of Bro N’s anti-semitic ranting you would certainly be in hot water here in the UK and probably in Ireland. My comment was a caution to you. Your choice. No apology.

          • “Atlantean”

            I post in my real, legal name and I’m quite content with everyone knowing I oppose links to vehemently anti-semitic websites by absurd conspiracy theorists.

            If you’re happy to be associated publicly with Bro N, then I suggest you do the same so your family, friends and co-workers know exactly what thinkers inspire and motivate you. Deal?

          • Atlantean


            U say Jimmy Saville was in Birmingham.

            Did u ever meet him ?
            I mean in the context of u meeting him whilst being an adult only of course ;
            Perhaps at some innocent social function, or some other innocent event.

            Did u have suspicions about him ?

            Dr. Anthony Claire certainly had suspicions about him ;
            This u could discern in a book of Claire’s.
            I read it while Saville was still active in media.

            I had suspicions about him.
            But, I have no power being in a different jurisdiction.
            Had I confided or public uttered my suspicions of Jimmy Saville to u over their in the British Isles,- I reckon the likes of u would just call me conspiratorial.


          • Atlantean

            And, u would have called me something very specific else.

          • Atlantean

            And all would be spurious, & untrue, & unwarranted.

          • Paul Divers

            Here is a list of Bro N’s videos.

            Let people make up their own minds and stop spreading FUD.


          • Paul Divers & “Atlantean” are like two naughty teenage boys in their box rooms playing gangsta rap to annoy their parents.

            Brother Nathanael is an intellectual onanist and anyone who links to his ridiculous drivel as backup for any argument renders themselves a figure of ridicule as well.

            Just don’t be endorsing some of his videos about WW2 if you’re in Germany or you might find yourself doing jail-time. Still, Nazi apologists in the culture of the First Irish Republic aren’t exactly unheard of, are they, President Dev?


          • Paul Divers

            Thanks for enlightening us Andrew.

            Maybe you should define Anti-Semitism for Atlantean.

        • Paul Divers

          actually it was ill thought out. It sounded lazy but when you get a blast of what Andrew is capable of then I can’t wait to see your face.

        • Paul Divers

          It is hard not to like Bro N but Makow is an idiot with an agenda. You can feel it in his writing. Last year he made a prick of himself on-line, so I am told, but to tell you the truth I can’t even be bothered ferreting out the link. I am sure you heard about it all anyway?

          • Atlantean

            Hi Paul,

            Agreed that Makow has an agenda to deliver regularly on a list of favorite themes of his.


            He is definitely trying to return society to being more heterosexual.

            He is very critical about Freemasons.

            I do hope that certain persons are not Masons.

            “Them’s Freemasons have been real bad to native Irish in Ireland.
            Also nasty to true Irish who emigrated to work to The British Isles.
            However, some of descendants of Irish people have since joined them.
            And, this when society in Ireland & the British Isles & USA etc knows how corrupt that the masons are as a whole.
            Despicable to join them if one is of Irish descent so,- in my opinion.
            Despicable to join them even if one is more than 1 generation down from being Irish.
            I believe that Saville was a Mason.
            But, I know that he was not a Spook for Ireland.”

            Not every article on Makow’s site is authored by him.
            Lots of intelligent women comment below the articles.
            Many of them are supportive of him.

            I am not familiar with the controversial moment per Makow last year.
            But, I will search for it later.

            Thanks for that info.

            Have a good one,



          • @”Atlantean”

            “He is definitely trying to return society to being more heterosexual.”

            LOL! You got any pics, dude? You on Grindr?

          • Atlantean

            Per 1 of Makows recurring Themes ;

            Saving Heterosexuality

            It is very difficult for people anywhere to comprehend Scotland having a lesser Percentage of Heterosexuals than England.

            I’m sure Makow would smile at that anecdote ;

            Thence,- he would write an Article on the wonderful Scots [ And,- Picts too ].

            He is much given to highlighting good examples of his values.

          • whatamess

            are you anti-gay Atlantean??

            as d’Unbelievablezz would say,”straight forward enough question,straight forward enough answer required

          • whatamess

            deafening silence from the LOUDSPEAKER??

            ok,are you a “saving hetrosexuality” proponent ?

            “Truthful Y will be respectably admired for having the guts to say it”

            LET’S BE HAVIN’ YOU THEN

      • Paul Divers

        Hi Andrew. Is this link good enough for you?

        Timebomb at Elm Guest House: Pop stars, a bishop and a top politician appear on a list seized by police investigating child abuse at the London hotel in the 1980s


      • I wear my tin foil hat with pride.
        What you cannot defeat by reason first ridicule then……………

  7. Original-Ed

    There was far more activity in the seventies than there is now – traffic jams in O’Connell Street at 2 AM every morning . Absenteeism was out of control – only two thirds of a workforce could be relied upon to turn up on any given day – there was this six day illness benefit system in place, so more income could be had by playing the system with , I seem to remember, one sicky each month. Sick notes and a Spanish Tans were synonymous. Inflation was in double digits, so spend, spend ,spend was the order of the day. The government gave tax breaks on loans for cars and consumer goods and so, hire purchase was big, big business. Only building societies could give mortgages on private homes, so Banks were only for commercial and farm loans – the latter being the biggest as they were the only ones with collateral. They got EU guaranteed prices, drove Mercs and didn’t have to pay tax – a one way bet .

    No road tax on cars and the fact that the government could borrow to fund this madness was hailed by the media as a great achievement and the country rejoiced with the politicians. As one old timer remarked, at that time, its Christmas day every day.

    Then the 80s arrived !!

    Erin go bragh

    • Atlantean

      Glory Days ! 8-)

      Éirinn go Brách !


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

    • bonbon

      And Thatcher, with the British imperial war against Argentina. How many in Dublin were cheering the SAS?

      Was that a warning to Ireland, a softening up for her Big Bang which gave Dublin the IFSC? Gunboat finance. But that is and was the game.

  8. Atlantean

    Lest the above Link not open up for yee,- here is another Link ;

    Different Aspect of same overall Topic.

    Now yee are learning about REAL ECONOMICS.

    Thank u again Pauldiv / Paul Divers for ur original posting of Link to this great Defender of his fellow man.


    Éirinn go Brách !


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

  9. Atlantean

    Edit to above Post ; January 13, 2014 at 11:48 am

    The Post should have included the Title from the Source ;

    Here is the Title ;

    SUNDAY, JANUARY 12, 2014

    And, here again is the Post for context.

    This Subject Matter has a close Connection with Economics, & Politics, of Ireland ;

    Not just the International Scene


    Jimmy Saville, & others of these Rings, operated as Spooks also.

    And, they have been closely linked with the Politicos of Ireland.

    The above MP could not possibly have been “MIRANDA”.

    “MIRANDA” is someone very connected to Irish Political Affairs.

    Yee all have discussed “MIRANDA” a lot on this blog.

    It is a bit of a SHOCKER really when u learn about “MIRANDA”.

    Éirinn go Brách !


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

  10. joe hack

    ….And sally O’Brien and the way she might look at ME!

    Yes in the seventies we got paid in cash, we had unions and apprenticeships but the people believed they all could be millionaires so now we have internships and giant money washing machines down by Liffey…harp is still made but it’s not a cools choice …

    Guess who is not rich and who is …

  11. GLOBALMACRO 360 – Pay per view opportunists go subscribe!

    In addition, credit cycles move rapidly from periods where there is so much credit that it’s almost impossible not to buy to barren periods where there is so little credit that it is impossible to sell. But these moments bring opportunity.

    Typically I try to keep most of my capital in assets which are not too risky and deploy what I term “attack capital” to opportunities where I believe consensus might have things wrong and there is an anomaly that I think I can avail of.

    Annual Membership- €500.00 Get 2 months free

    If you think your financial security is worth that, welcome…

    and of course:

    Nothing contained in this website is intended to be, nor shall it be construed as, investment advice, nor is it to be relied upon in making any investment or other decision.

    David McWilliams shall not be responsible or have any liability for investment decisions based upon, or the results obtained from, the information provided.

    Do not wait and sign up now for the McWilliams daily for only:

    Thereafter, the note, the information and all the ideas will set you back less than the price of three pints a week!

    You could not make it up!


    • Welcome to the sick world of Michael Hasenstab….

      Hasenstab? Yeah, he actually holds 10 billion in Irish fonds, debts, fiat money, speculations, gambling, paper shit pushers that gamble with the misery and the lives of people, entire nations….

      Put all of that useless shower for 3 months into Donegal to dig turf the old way during the midge season, that will teach them a real lesson! Afterwards they could rightly claim that they worked for 3 months in their lives, earning an honest buck.

      They would not last 3 days!



    • bonbon

      Glass-Steagall rains on that parade. It explains why some want the game to continue, while actually working the sidewalk.

    • From his own tweets

      #David McWilliams ?@davidmcw 2h
      For @GlobalMacro360 followers, just executed 50% of the investment we talked about this am. Find out more at


      GlobalMacro360 ?@GlobalMacro360 6m
      Have a good night all! Please checkout http://globalmacro360.com for details of our 2nd investment so far this year.

      and again from his own disclaimer:

      Nothing contained in this website is intended to be, nor shall it be construed as, investment advice, nor is it to be relied upon in making any investment or other decision.


        • LOL in deed! So he is asking to get paid for … no investment advice, but of course… sharing his daily jibber jabber on paper pushing and information aggregation, lurking them in by…Luckily over the years I have worked all around the world, with some of the savviest investors and I still pick up the phone to these guys from New York to Sydney, Hong Kong and London to see what they are up to. … and of course, they don’t chat to Jack fucking Welsh and other fat cats he looks up to.

          I am sure it is all legally sound, or perhaps borderline, who knows, but I beg you… common sense folks! It is camouflaged investment advice, and now just do the numbers….

          Let them dig turf! LOL

        • It falls under the central banking act and various regulations and competency codes such as QFA, APA etc.

          So go on fools, pay him 500 per annum and copy cat his investment strategies, you signed that you are not receiving any investment advice.

    • Georg

      You seem to be disturbed/greatly amused by the idea of a paid subscription content site on the Interweb. Why? Have you never come across one before? Here’s the quote you perhaps think you know but probably don’t:

      “On the one hand information wants to be expensive, because it’s so valuable. The right information in the right place just changes your life. On the other hand, information wants to be free, because the cost of getting it out is getting lower and lower all the time. So you have these two fighting against each other.”


      Does your plumber give you advice for free?

      • whatamess

        don’t be a “foooool” Andrew ;)

        jokes aside,i agree with Andrew of course. A disclaimer is our host protecting himself,simple…i sign a disclaimer when i visit my local ‘go-karting’ club for goodness sake

        and the observations on our host’s new site, could provide valuable insights to a savvy investor,small or big.Remember our host’s observations are a collection of all of his followers/supporters on twitter/facebook etc and of course investment people that he knows himself personally and his OWN reading of the spectrum of investment offerings….

        and David is offering a 2 week free trial ,in fairness!

        [could do with a spliff right now...stress pressure tension and anxiety "AGM" ;)]

  12. Atlantean

    Dear Irish Nation [ 'Sovereign" Debt Slaves to formerly Private Debt of More than just Yee ] ;

    These Folks from “THE CITY” et all are a big Part of the Economic Scheme against the Irish Nation ;



    God help all their Victims.


    Éirinn go Brách !


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

  13. Atlantean



    Now u are paying the Economic Price.

    Éirinn go Brách !


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

  14. Atlantean


    The Organisation “Common Purupose” have garnered themselves immense Power in The Irish State.



    I think that Irish State sends Civil Servants to Common Purpose for “Leadership Training”, inter alia.


    Éirinn go Brách !


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

  15. bonbon

    My God, it’s pure luck the narcissists cannot blog in larger text. The blog would collapse under the sheer weight of the tidal waters !

  16. bonbon

    Yet again DMcW points to the real problem : “Back in the real world, credit in Ireland – and all over Europe – for small businesses is practically non-existent.”

    Correct. Exactly what happened in the US between 1929 and 1932. It took really aduld supervision of the romper room known as Wall Street and London ( nappy change is really overdue – the stink is reaching the heavens ). Adult political economics, Glass-Steagall and the RFC, Reconstruction Finance Corp. All these are expressions of Hamiltonian political economy.

    Lets put politics back into politics, and economics back into economics. No edict by Adam Smith – moral sentiments, vacuspeak (as well shown by Kerrigan), nor metallic sounds can distract.

    • Atlantean

      My dear son,

      I care, & worry for u, as no doubt do most me people acquainted with u.
      U are in my prayers.

      If I get a chance to meet Lyndon, or Helga,- I will be sure to tell them of our concern for u.
      We will have a nice easy talk about u.

      U need to rest now my son.
      Sleep well.



    • Ah Yes, I recalled
      Robbed the people of there savings by doing the banksters request of depriving the citizens of real money and substituting paper fiat at 20 odd dollars an ounce. Then he added insult to injury by devaluing the dollar against gold by 66% to 35 an ounce. That is he robbed the whole world who held US dollars.
      Now only nation stated could redeem dollars for gold. Was it FDR still with no recovery in sight except for the inflationary war effort engineered Bretton Woods and made the UD dollar the world reserve currency. OH yes this was after the infamous lend lease program in the WW11 where Britain paid for every bit of arms aid from the US with the transfer of gold and technology given to the US in exchange for rust buckets that could not put to sea.
      AT the same time US interests were doing business with Axis interests for mutual profit.

      FDR created the conditions for the US to never balance another budget and to flood the world with US dollars in exchange. Exporting their inflation to other nations.

      Then Nixon opened the floodgates by going off the gold convertibility standard and implementing the petro dollar.

      Thus have the worlds finances become controlled by wall street and London and all the while GS was still in effect. GS was the icing on the cake but the cake was well and truly baked. Reinstalling GS as a solution is removing the old icing but the cake is bigger and better and even more are freshly baked.

      Some other topping will easily be found to enhance these cakes. There is now a cake in every country with a central bank. GS in one country will have little effect.

      BUT a country with the education and the courage to leave the central banking system will have no need of a GS as there will no longer be a cake that can have the icing added.

      Lack of credit is no obstacle to business and economic recovery. Too much debt and interest is.

      • bonbon

        You mean he robbed JP Morgan? Who never paid any taxes at all? Time for a Pecora Commission, and put these in the rubber room!

        Why not say you defend JP Morgan, who paid for the Business Plot, an attempted coup on FDR, while all along his cronies put Hitler into power? Smedley Butler certainly whistleblowed that did’nt he?

        And then we have Hayek who praised along with Friedman, Hitler’s nazi economics, with a nudge, smile and a wink of course.
        Now back to DMcW’s credit theme. He obviously is grappling with FDR’s RDC idea, yet cannot drop that JPMC casino from the picture. It must be torture!

        • You are the one tortured bonbon. Trying to pretend I agree with immoral criminal actions.
          Trying to paint a nasty picture instead of dealing with the issue debated/presented.
          I never make a mockery of you or your name bonbon until I am made to defend myself from your nefarious statements.
          Sometimes you are a spiteful , wicked person.
          AKA A nasty piece of goods.

          • bonbon

            You are quoting people without doing your homework, a Tiger trait you brought to Canada. Now decide to carry on quoting these nazis, and Hayek with Friedman were fascists, but do not expect any leeway whatsoever. This is not mockery, not snobbery, but simply truthful. Under no circumstances will the Fabian economics of these nazi’s be tolerated anywhere for too long. Ireland suffered long under Fabian schemes and will not tolerate it again!

      • Atlantean

        FDR conspired to stop Joe Kennedy getting Joe’s 1st born son from becoming a future President of USA.
        Conspired with Churchill he did.
        Probably the Royal Family itself too.
        Actually,- the man credited with the actual assassination is FDR’s son.
        FDR’s son is said to have assassinated JFK’s brother when they were both on a contrived high risk flying Air Force mission to Germany during WW2.
        The hit-job was given to FDR’s son.
        The evidence is very very strong in support of this.

        The Kennedy family are not really unlucky ;
        Moreso, that the Elite have earmarked them for elimination from real power.
        Murders ; Not accidents, & suicides.

        Kennedy’s are Spanner in the Works for the Elite.
        But, Sen. Ed Kennedy learnt his lesson ;
        Chappaquidick was not an accident.
        Rather,- it was a hit job to send the message home to Ted for he to do as instructed by Elite.
        So,- Ted gets fame as a liberal [ "Society Wrecking" really when u look at the outcomes ] politician.
        He became a puppet of the Elite.
        The “Cattle” were corrupted for the Elite’s delight.
        Larouche is actually very good on explaining how the Elite swamped the USA with Heroin.

        And, the Elite are stocking up in Gold & Silver now because they may have to flee the USA.


  17. bonbon

    Banks Win 35:1 Bet Against Civilization; Will Crash Next

    The choice is now between immediate implementation of Glass-Steagall principles, or bank panic and financial crash worse than 2008.

  18. “The most important figure in the real economy is disposable income.’

    Disposable income is defined as that available after payment of income taxes.

    It used to be a more usable metric than today but now with the advent of VAT it is less so. With nearly 25% of disposable income seized by the state and with the calculation of dues fees and tariffs added in not much disposable income is left for discretionary spending.

    20 years ago I sat down with a paper napkin and a pencil and calculated that as an income earner of $65,000 Canadian I was taxed in total to 66% of my total income. Curiously the Fraser institute came out with a study based on similar metrics and was one percentage point different from my calculation.

    That is a lot of tax and meant I worked for 8 months to provide the state services. My income was not extraordinarily high. I also paid huge capital gains taxes that were introduced after I purchased property (that is a retroactive placed tax). This tax was on inflation induced into the property market by the state and central bank policies and not of my doing. By taxing me this way I could not reenter the market at the same level I had exited without increased borrowing .

    Tis a criminal enterprise, defrauding and penalizing productive citizens. No wonder people spend rather than save.

    So in Ireland now, people are saving and funding enterprises from savings and income too. Not being in debt is the way to go. Slow but steady. Remember it is the tortoise who wins the race.

    Do not bemoan the lack of credit for business as it is a trap.
    Now if people cut back their expectation of government support they could legitimately demand a balanced budget and the state would not borrow either. A good thing.

    Better yet.
    Ireland exits the EURO
    Issues a national currency from Treasury at no cost , debt free at no interest.
    Revokes the private debt foisted on to the taxpayer.(Odious debt)
    Pays off the national debt with treasury funds, thus redeeming the fiat currency notes and associated debts.
    Exchanging all central bank fiat notes in circulation one for one with new treasury notes.
    Close the central bank as it is a foreign entity acting in the interests of only the bankers.
    Repeal the legal tender laws to give people the freedom to use whatever money they wish.
    Use the Irish mint to issue gold and silver coin as money. That is Remonetized gold and silver officially. (It is still actually money around the world)
    Instruct the treasury to buy bullion as the nations savings and to issue special treasury notes backed by precious metals, that are fully 100% redeemable for the stated amount of gold or silver.

    Now David THE NATIONAL DEBT NO LONGER EXISTS. The government budget is now in surplus. Taxes can be reduced. Specifically income taxes can be eliminated.

    Now we have a real increase in disposable income. Added to the current trend, do you not think that business would increase. People will save and invest in such business, and people will have the money to spend on such business.

    Taxes are too high, debts are too high, stifling economic activity.
    All is resolved by closing the central bank fiat money system and implementing a national currency from treasury at no debt.

    Your comments on this Please, David.

    • bonbon

      Is that the same Fraser Institute discussed here a little while ago?

      The Open Republic Institute, a member of the Economic Freedom Network established by the Canadian Fraser Institute, in collaboration with its worldwide affiliates, annually updates the Economic Freedom of the World Index. The latest report for 2005 is the 9th edition and rates 127 countries for the right-wing, free market, economic freedom concept. Hong Kong achieves the highest rating and Ireland finishes in eighth place. The Open Republic Institute, based on Shelbourne Road in Dublin 4, provides the Index’s Irish research data. Its Directors are Paul MacDonnell, Constantin Gurdgiev and Moore McDowell.

      Need I say more?

      • michaelcoughlan

        Need I say more?

        Preferably not.

      • bonbon

        Well I will then, if you don’t mind that is?

        The Legacy Of Friedrich Von Hayek: Fascism Didn’t Die With Hitler

        For those who just lapped up a flighty reference, much like the rte news, here it is :
        By this time (1979), Fisher had already furthered the Mont Pelerin subversion by establishing the Fraser Institute in Vancouver, Canada in 1974, the Manhattan Institute in New York City in 1977, and the Pacific Institute for Public Policy Research in San Francisco in 1978. In 1973, Mont Pelerin had also been instrumental in launching the Coors family think tank, the Heritage Foundation, in Washington, D.C. Following the Thatcher victory, Mont Pelerin launched an ambitious overhaul of Heritage, importing a half dozen British Mont Pelerinites in anticipation of the 1980 Presidential run by Ronald Reagan.

        Mont Pelerin again, founding members Hayek, and Friedman of the Chicago School, you know, the Pinochet School.

  19. Dorothy Jones

    Plenty of money to be had from NAMA. They have only spent a small portion of their budget. In fact so much so that senior employees seem to be offering minutes to interested parties: here via @NAMAwinelake, that link which was removed :
    And why, pray tell, is Sindo report of claims NAMA employee offered minutes of NAMA meetings, no longer online?http://www.independent.ie/irish-news/third-man-fuels-nama-leak-fears-29908538.html
    You just have to have the right connections…simple as that. Simony and Nepotism rife. Or else you do something completely different….

  20. Ryu Hayabusa

    Quirky fact of the day:

    In Germany ‘dogging’ is defined as “jogging with your dog”

    For the English interpretation, Frau Angela kindly defer to one Stan Collymore! :)

  21. Ryu Hayabusa

    Amazing how things, situations and events get ‘Lost In Translation’

    Or perhaps your Irish poodle could shed some light on the matter…

  22. Ryu Hayabusa

    In Sverige:

    ‘djogging’ :D

  23. Atlantean

    My Fellow Posters,

    Sorry for my overuse of Capital Letters [ Caps ] heretofore.

    Next time I will be more sparing in my use of them

    More is the pity though that this Blog, does not have a look & feel of Br N’s Comment Section.

    For ur convenience,- I will render the above Links again in brief Posts dedicated to no more than 2 Links.



  24. Atlantean

    Reiteration of Links

    Sun 12 Jan 2014
    Female MP in Pedophile Ring

    This Subject Matter has a close Connection with Economics, & Politics, of Ireland ;

    Not just the International Scene


    Jimmy Saville, & others in these Rings, operated as Spooks also.

    And, they have been closely linked with the Politicos of Ireland.

    • Atlantean

      Any Spreadbetting as to Name of this Brit Female MP ?

      I’m inclined to think that it is one of the most famous names.

      I have in mind a particular one.

      I think not Maggie Thatcher.

      The reporting does not indicate that it was that Puppet for the Elite.

      Although, the Iron Lady who said she would run UK like a Housewife used to have Jimmy Saville over for Christmas during a spell of 15 years or so.


  25. Atlantean

    Howdii all,

    If I ever spot any laudatory mention of FDR again, I will be sure to re-issue with increasing Elegance the Truth about the “appalling” Piece of Filth that he really was.
    I do take it very much to heart that he instructed his son to murder JFK’s brother.
    All just to keep out an Irishman from the Presidency.


    • bonbon

      FDR does get the Wall Street stringers and the proto-fascists really annoyed, does’nt he. It sure brings out the character of the pompous narcissist romping in the joint.

      Glass-Steagall, the adult supervision of the nazi funding apparatus of Wall Street, including JPMorgan, is the issue.

      Eleanor Roosevelt, JFK’s close adviser, had also a great role.

  26. Atlantean

    Octopus “Common Purpose”

    That sinister Organisation “Common Purupose” have garnered themselves immense Power in The Irish State.

    Our Friends the Rothschilds feature in the Articles within the Link about “Common Purpose”


    The Irish State sends Civil Servants to Common Purpose for “Leadership Training”, inter alia.

    “Them’s bad Duuds Bro !”


  27. Atlantean

    Disgusting Peccodillos of “The City” Crowd, & their friends.
    Some names will come as a Shock to u.

    Do not forget that most of these Folks are screwing the Irish Nation of its Wealth too.



  28. http://www.thedailybell.com/news-analysis/34924/Bullish-on-Yellen-A-Very-Good-Article-From-Forbes/

    Forbes say to be rid of the Fed is good policy.
    –Therefore I say, getting rid of any central bank is good policy.

    • bonbon

      Forbes ?
      Forbes Magazine Among More Calls for Glass-Steagall January 6, 2013 .
      With more and more local bankers and business groups in the United States coming out for Glass-Steagall restoration, Forbes Magazine again calls for it in an article published Jan. 4 strongly criticizing the behavior of JPMorgan Chase.

      The piece, “JPMorgan Chase Should Yield Madoff Records,” is well worth a read.

    • Ryu Hayabusa

      I don’t know if the Fed qualify as a Central Bank, akin to a protection racket of sorts more appropriately!

      • bonbon

        The FED was set up with one and only one objective – to stop a Hamiltonian Bank of the USA. That by confederate hangover Teddy Roosevelt. It needs to be brought back under Treasury, modifying Article 13 of its charter, and immediately the 12 banks for Industry get to work.

        • No The reason the FED was formed was to bring the US under the control of the banking empire.
          Paul Warburg was the architect of the design, He from the London house of Rothschild.

          Same family associated with the spouse of Hamilton, that other Rothschild agent. Sounds more and more like bonbon is one of them too.

      • That is the essence of a central bank. To protect the banks themselves , not the people. The people are enslaved to economic serfdom.

  29. http://usawatchdog.com/

    U.S. Bled to Death by China and Harvested for its Organs-Dr. Jim Willie

    By Greg Hunter

  30. Atlantean

    Hi Folks,

    This Female MP is being “indicated” in Scandal ;

    Pity that ; Because she quite the Looker



  31. Atlantean

    Do not forget ;

    The Links such as I have supplied are the sources for Real Juicy Facts about Grand Bankster Heist upon Irish Nation ;

    Guido Fawkes Website is the one that uncovered the List of Bondholders per Irish Debt ;
    NOT the Irish Media ; NOT the Irish Websites ; NOT the Irish Bloggers

    Here is a Page from Guido Fawkes



  32. Atlantean

    How about Ivana Bakic ? ; Frequently on DMW’s Agenda programme on TV3 before.

    I personally cannot stand her.

    Regardless of my sentiments,- this “elected” Politico is arguably ;

    “well liked” ;

    This is my hunch.

    But, she would not be “well liked” by me ; No way Jose !

    Nasty Proponent for Killing of Unborn Children she is so she is.

    • Ivana Badbic as I like to call her :)

      • Atlantean

        Concur 8-)
        Fair Comment about this Politico !

        Lets look her up in Wikipedia.org
        Of course,- I do not fully trust Wikipedia for many topics ;
        And,- obviously with justification.
        But, nontheless, I will insert the Link.
        Afterall,- I reckon this Ivana has a terrible ambition to be in charge of Dept of Finance some day.
        This is fair comment because all Politicos want to get their hands on such power.


        Josey, did u see the spurious, & unjustified, Accusations by the guy from Birmingham above ?

        Andrew G Mooney is meant to be his name.

        He is threatening the aul Political Correct Speech stuff on me.

        Of course,- I would never transgress any law.

        I am too smart for that.

        I am sure that u are too Josey.

        Everyone be careful of his Lordship Andrew G Mooney above now.

        Trying to be a Spook on an aul decent Irishman like myself he is so he is.

        Full, & sincere, Apology from Andrew is well overdue.

        Cheers Josey


        • Paul Divers

          lol. you liven things up around here Atlantean. I’ve not laughed so much since I saw a red top front page with Leon Britain’s face photoshopped on to a babies body wearing pampers. Just dont be a div. Oh an get rid of that daft three line signature.

        • Paul Divers

          So tell us. Why are you paying special attention to one politician?

          • Atlantean

            Well Paul,

            If I was in England during the early 1970′s I would have remarked on, & thence payed special attention to one politician ;

            Margaret Thatcher MP
            Not yet a government minister of any kind.

            She sure would be noted into my book.

            Josey above has also noted Bakic ;

            In fact, Paul, most encounters I have with Irish people today upon they bringing up subject of politics or social engineering or any other aspect of the grating experience encumbered by local Elite upon us ordinary Irish aborigines eventually results in they introducing this Politico as being a particular detestable one in their opinion.



        • “Atlantean” You are not getting an apology, just some more advice. You say you’re in “exile”. Certainly from consensual reality! However, if you mean you’re not in Ireland, have a think about it. Some of the videos by your barmy Bro openly deny the Holocaust. If you’re based in Germany, you might find yourself in trouble if you endorse some of those videos.

          Also, as Ireland Inc bends and spreads for Germany over the next few years, you’ll probably find that Holocaust Denial becomes a crime in Ireland as well. Hope that helps you ‘going forward’

          I’m a total advocate of Free Speech, but also of responsibility. This isn’t America, there’s no 1st Amendment and trust me, Angela Merkel intends to re-engineer the Irish Mind and Irish Culture on all levels before absorbing the corpse of the First Irish Republic into her body-politik. Just sayin’!

  33. Adelaide

    Hi Atlantean
    You know Atlantis sunk under the weight of its own comments. The sheer quantity of its comments drove its inhabitants into the sea first, an awful tragedy..
    Perhaps you show a bit of restraint going forward? Less is more and all that.

    • I think that’s his intention Adelaide – to drive us all underwater.

    • bonbon

      Atlantis went down in a mud volcano and a tidal wave in a day and night according to Plato’s Timaeus, the only source. Most avoid the next bit – it attacked the known Mediterranean world then and all alliances broke down leaving the Greeks of that time (9000bc) alone, who won! That is from Critias. They were not nice at all, Titans, out to erase the cattle as they saw it. It was that atlantean oligarchy that Prometheus undercut. There is much more, but you are on the right track.

      • You had to go back 11000 years to dig some (volcano)dirt.
        Fortunately we don’t have to go back too far to find the skinny on LaRouche corruption.

        • bonbon

          That oligarchy is right now intent on real erasure of billions. Anything to prevent humanity from mastering fusion and rebuilding the ruin that clique has excreted. Taking this view immediately brings Hayek into focus – a mere depopulation goon.

          • How you get from Atlantis to being a depopulation goon. Form of derangement I guess.

          • bonbon

            Atlantis, Titans, never heard of them? When they landed at the Atlas mountains near Morocco, the intent was genocide. Fire was to be kept secret. Reminds me of the Yahoos of Gulliver – they did not cook! As Aeschylus clearly tells, the species was to be eradicated to make way for an improved one. Zeus the greenie Titan.

          • Every invader thinks the same of the conquered.

          • bonbon

            The Zeus model is not new.

            Prometheans be! That is the fight. Not new, but fire, thermonuclear fire must not be Zeus’s toy or weapon, and in fact now cannot be anymore.

            Prometheus unbound.

    • Paul Divers

      I used to sometimes drink in The Atlantis in Clydebank next to the streets that were bombed to smithereens and I can assure you we never showed any restraint in going forward and never have since!

  34. Adelaide

    “Trend in regular savings improves despite lower interest rates”

    Today’s news contradicts David’s article.
    Savings are increasing.
    It goes on to say that increased savings are a sign of consumer confidence while David’s article posits decreased savings are a sign of consumer confidence. Which is it? So many conflicting experts! The confusion! The confusion!

  35. Adelaide

    Alas, I’m no longer confused, I realised in an epiphany moment that the Economists are describing a Quantum Economy, those sneaky brainboxes, the Economy Particle can be in two states at once, both up and down, the Uncertainty Principle negates all prescriptive analysis so any expressed opinion or rather utter guff is simultaneously correct and incorrect. Hence, decreased and increased savings are both positive signs and both negative signs at any given moment. Phew. QE is Quantum Economy. That explains everything.

  36. whatamess

    The Thorium Evolution and Revolution !!

    “One metric ton of Thorium fuel would deliver the same amount of energy as 250 metric tons of Uranium, in a pressurized water reactor…”

    “Most of the residue [in Thorium based Plants] will become inert within 30 years ….and “The most dangerous waste from ‘current’ generation reactors requires storage for 10,000 years”

    “There is enough waste just in the U.S. to power the country for a century…”


    Modern Economics ,enriched by isotopes,not by ‘pieces of eight’

    Fusion will power our physical economic propulsion

      • Thanks for that Paul

        The bottom line is this. Thorium reactors still produce high-level radioactive waste. They still pose problems and opportunities for the proliferation of nuclear weapons. They still present opportunities for catastrophic accident scenarios — as potential targets of terrorist or military attack, for example.”

        • Paul Divers

          Yes exactly.

        • bonbon

          Attack by Obama’a Al Quaeda, well funded by the KSA, are likely anyway, even if gathered around the energy saver candle.

          The population reduction Royals have their sidekicks, that’s for sure.

          The best way to put that game aside is breaking the banks. The funding comes from there.

        • whatamess


          WTF?? c’mon …baseless,throw-away remarks don’t help

          your “conclusions” are you stopping investigating and ending your frustrations with these pacifiers …gee whizzz

          ” Thorium reactors still produce high-level radioactive waste” – WRONG (even if you bothered to read that single article,you’d know why)

          “They still pose problems and opportunities for the proliferation of nuclear weapons “..weak and wrong

          WEAK – just consider,if only for a ‘purring’ moment, biological warfare …( and ought we not built skyscrapers from now on ?pullleeese )

          Wrong – plz read difference between fusion and fission ( and Yes there are DANGERS with fusion …does that stop humanity’s progress?
          i dare say not!

          ” They still present opportunities for catastrophic accident scenarios — as potential targets of terrorist or military attack, for example.”

          - that’s just your ‘practicality’ and total lack of imagination,which unsurprisingly, lands you at your myopic ,largely unscientific based conclusions … Let’s ,once again ,Ignore Science,eh Tony …that’s your bottom line alright it seems

          one truth in life ,be the poet,the painter,the sculptor , and not this guy ,at least not all the time ,for no good Reasons;)

          1 minute

          • Can’t be bothered with you any more.

            The statement quoted was from Paul’s post.

            Where is the support for your contention. I have no time for your snide rambles

      • bonbon

        Thorium and nuclear fusion fire, do refute one British myth – that we are animals.

        Take sides.

        • Paul Divers

          With whom? Larouche Pac (Irish Division)

          • bonbon

            Species – animal or human, users of fire or farts.

          • Either way a danger to the environment.
            One with co2 and the other methane.

          • bonbon

            Thermonuclear fire, E=mc**2, is the only way. The CO2 jingoism is just for certificates – Al Gore being the first CO2 billionaire.

          • Ryu Hayabusa

            Al “An Inconvenient Truth” Gore is it? SpoofferrrMan Al. He ‘s laughing all the way to the er… co2 bank.

          • bonbon

            Al Gore really did gut the economy did’nt he, on the way to the co2 bank? Is’nt it nice of him to declare in that greenie required reading, that 1848 was the Irish’ own fault. So endearing to the Royals, what?

          • As an aside. Can anyone find me a graph that correlates co2 levels with world temperatures. Just asking because I have not found one.

          • bonbon

            There is a graph that links temperature to solar cycles, even at wiki :

            Current cycle looks about over already. Could be another Maunder minimum. Chicago is a taste of what that means right now.

          • whatamess


            (based on a true story *smirk*)

            So Einstein had a few undergraduates and he asked them in a lab tutorial one day to go and split the atom into two equal halves. “Before you do” Einstein told them, “weigh the atom ok!”…They did as they were instructed and it had a mass of exactly 10.0 (no units) ..”Now don’t forget your ancestors and split it into two halves,right down the middle and you ought to have two fives, right??”

            “Right!” they replied.All were agreed and away they went.Some time later, the undergrads came back with a frustrated demeanour ,scratching their heads, as after countlessss experiments, they kept getting the same results:

            4.5 and 4.5 for the two halves ,but where was the missing 1 ?!! Einstein told his lackies ,”God damn it ,it’s time to shape up or ship out for you guys” and got them to again and again repeat this dividing exercise of,the so called, “indivisible”( from Greek “Atomos” a science teacher of mine once said???could be bullshit?)

            After ruling out all instrumentation, environmental and human errors possible, eventually ‘the penny dropped’…the missing 1 was of course the Energy it took to split the binding forces of the atom ! So they knew THEN ,at that moment,that Energy had MASS, which was , well , a scientific breakthrough in understanding

            Where ‘E’ is energy
            Where ‘m’ is mass
            Where ‘c’ is speed of light

            tutorial over;)

          • Ryu Hayabusa

            All credit too the mass of energy.. in fairness. Delightful anecdote.

    • You may power your world with Thorium but that does not preclude the use of pieces of eight.

  37. bonbon

    DMcW, you do indeed bring the issue of credit to the table, however haltingly, but this is the issue. You are in one way or another going to go in direct confrontation with the monetarists of all stripes and especially London and Wall Street acquaintances as FDR’s brilliant intervention becomes more well known. The keepers of this doomed system fear one thing more than Glass-Steagall, and that is Hamilton’s Credit System.
    Here is a link with a great short video from Michael Kirsch
    Generalizing the Principle of Government Credit: Non-Mechanical Economic Cycles

    Kennedy’s “Grand and Global Alliance”
    EIR History Editor Anton Chaitkin tells LPAC’s Michael Kirsch how President John Kennedy moved to overturn the false and treasonous merger of the U.S. government and the British Empire.

    • whatamess

      Credit is the issue for sure, nothing new there, but so many think ,incidental of the WHO is ‘creating’ that money expansion, that it’s the never ending printing of money process that is the main cause of debasing currencies. Of course it’s a significant factor over decades of erosion ,but the Focus, be that in a post mortem approach, or observations of the now, ought to be answering the WHERE all that binary printing ends up — Answer: almost in it’s Entirety, it ends up feeding “the ten ton flea on the one pound dog”

      This never ending, aggressive expansion of money (non –productive debt!!)is channeled in only one direction – to prop up a bankrupt financial empire. When Wall St was deregulated in 99, the banksters’ “Mardi Gras” reeeally began! LEVERAGING combined with a ruthless ,fuck the consequences attitude (unsurprisingly) that the “optical backstops” / Goverments would bail them out, each and every time !! So with that kinda ‘credit line’ at the casino,they leveraged trillions into Quadrillions and THAT caused the significant debasement of currencies? Any comments welcome …

      The greasy bill for this Wall St f**k fest ,lands ,by design, on the taxpayers’ tab and the tab of generations to come!!! The ‘kicking the can down the road approach’ is performing very well for the elite, and the global money markets reflect this,right? The sovereign debt, inherited by, rather foisted upon, the unwitting public seems to have taken on a new dynamic? The RISK factor in the markets indicate low, when MOST indicators would suggest it ought to be the opposite…Why?

      Is it the Future generations that will pay and the banksters believe this as Truth ,in their self serving existence ?!!! The willingness, that is to say there hasn’t been riots and revolt, of the taxpayers to keeeeep paying ( and Governments’ compliance in forcing us pay odious debt) demonstrates an elastic limit that must leave even the vermin bankers astonished!!

      and so we go into another ‘overtime’ and another ,in this can kicking of financial imperialism ….

      I would rather be minus this current financial empire, with ‘unsound’ money ,rather than continue with the current casino system and a ‘sound’ money

      • whatamess

        can’t sleep..Ughhhh…stress is a killer!

        When i wrote above “they leveraged trillions into Quadrillions and THAT caused the significant debasement of currencies?”, the Trillllions of course were imagined into existence anyway,and then with a magic f**king wand,leveraged 30 times over into Quadrillions,of DEBT!! (even some of these bundles of derivative JUNK was sold/mis-sold and there were buyers and there still IS,lots of buyers!!What does that tell you?!!

        I understand that actuaries perform best in their predictions when they collect bundles of ‘identical exposure units’ – like let’s say 10,000 customers,all female,aged between 25 and 45,with full licenses,Full NCB etc…the permutations and combinations here for the bean counters can tell you VERY accurately with these ‘bundles’ the risk factors.It’s a Science !!

        Derivatives however were bundles of toilet paper and the vendors didn’t eeeever know the true values,it didn’t matter!ANYTHING outperformed zeeero return investments,right so they stayed on the shelf and are still there trading well,even the JUNK…talk of polluted waters infested with alligators and rats

        The derivative mountain of debt,FAR exceeding that of any sovereign remeber,is the long shadow cast on the economic battleground of today and that debt can NEVER and will never be paid…and that’s just mathematical Fact !!

        Faced with THIS Reality,our choices are

        split the banks


        perpetual servitude for generations

        • How does ‘splitting the banks” remove the debt from individuals.
          How does it stimulate the economy.
          Please explain to me what splitting the banks means and what the results of such a split are.
          Will it slit foreign branches also.
          Would it have to be a world wide coordinated effort.
          how are these derivatives to be segregated from the original transactions whatever they are.
          Will all the counterparties go bankrupt. Who are they and where are they.

          These are all questions I do not have answers to.

          • whatamess


            “How does it stimulate the economy?”

            GS doesn’t, as such, ‘stimulate’ growth ,but rather Elimates the ROT ,so there can be REAL growth

            “Please explain to me what splitting the banks means and what the results of such a split are”

            It means ending Wall St and all other associated tentacles

            “how are these derivatives to be segregated from the original transactions whatever they are”

            - Who cares ,let the banksters scurry right into the oil drum…”My grandmother showed me how”;)

            “Will all the counterparties go bankrupt. Who are they and where are they”

            not sure there Tony!!…maybe Bonbon can weigh in here?

        • Ryu Hayabusa

          And carefully wrapped inside the toilet paper were fistfuls of congealed shite and lumplets of ‘fatberg’

          You are right, as the Herbert Stein quote goes… “If something can not go on forever, it will stop”

          A large cog in this corrupt machine is going to seize and it’s gonna splutter and conk out. Needs more than the usual routine overhaul though.

          Money doesn’t suit the Irish anyway! :O


          “Who does everyone in the world owe money to? …and why don’t we just kill the b****rd &relax?”

      • Your synopsis is good.
        Your last statement has another option. it is;
        Be minus the current cartel and change the money to treasury funds.

        Eliminate the source of the credit and debt money and there is nothing left to leverage.

        So close the central bank

        Replace all fiat debt based currency with treasury money issued without debt and no interest.

        Revoke the odious debt.

        Pay the rest of the national debt with treasury funds.

        Repeal the legal tender laws.

        Monetize the monetary coins and metals.

        There will now be no national debt and thus a positive balance of the national budget.

        Repeal income taxes to reduce the budget surplus.

        Thus everyone gets a boost in their disposable income and off we go.

        It is a logical plan that allows all the leveraged banks to go broke and good riddance to them.

        For a national bank we use the post office as we used to. It is a national institution working for the people rather than the central banks who work for the bankers.

        • whatamess

          no purposeful strategy for growth

          that’s just letting our future to chance,and we are being held against our will ,fathoms under the sea,by the financial octopus

          no thanks Tony

          we can be so much more creative

      • Atlantean

        Good Post Whatamess ;

        Now u are getting close to the proper understanding of :

        the Scam

        & Solution to the Scam.

        More is the pity that u are just 1 of the very few Posters here who is taking the trouble to actually read Brogan’s superb explanations.

        I say this because upon reading, & reflecting upon, his Explanations,- a Poster could but only be a champion of his Analysis.



        • whatamess

          if money was the main problem to solve,Tony would easily get my vote

          but empire,mountains of odious debt and zeeeeero physical economic growth are the problems we face

  38. Ryu Hayabusa

    I know this is a bit off topic but… laughter is the best medecine. :D


    Pastor Tim pulled off a 1 minute Sermon so he could catch a 49ers playoff game.

    It’s all in the delivery really.

    “There’s some bread &some wine up here on the table, you feel free to help yourself!” :)

    Apparently he ran the regular service subsequently in case anyone got all sacrilegeous on poor oul Tim.

    • Ryu Hayabusa

      ‘medecine’ should be ‘medicine’

    • whatamess


      there’s a story i heard as a young fella ( an urban legend i’m sure) but your post reminded me of it

      The local parish priest in west Cork ,after his sermon one Sunday morning, decided to discuss his observations of the local primary school where he had spent a week interviewing for new teacher posts.

      From the pulpit, he delivered a barrage of criticism and abuse of the teachers there,and ended by saying “These teachers are NOT fit to teach PIGS,not to mind young children of wonderful imagination !!”

      Well for a week, it was all that parish could speak about! you can imagine

      The following Sunday’s 11am mass was PACKED ,with attendance never seen before,in anticipation of the PP’s, post sermon ad lib !

      When that moment arrived,he quietly said ,” I understand there has been much disquiet among the congregation regarding my comments last Sunday about the teachers at our local primary school and i would like to make a retraction ”

      ….you could hear a pin drop !This was a FEARED man,right !!

      He cleared his throat and said ” I was wrong,yes wrong, mea maxima culpa for saying that these teachers were not fit to teach pigs !!”

      after a 4 second pause, he spoke into his microphone once again and said ,

      ” They are fit to teach pigs, and only pigs !!”


  39. Ryu Hayabusa

    &The 49ers came through 23-10 against The Panthers much to Pastor Tim’s phee-ewww!

  40. “As a result the real economy is stuck in the 1970s, ”

    I wish that were true.
    in 1970 an hours worth of labour bought 155% more than today, in the real economy.
    $9000 a year as a labourer and able to buy a house in a popular city.
    Today that same hour’s labour can barely let you rent a one bedroom apartment.
    That is also the real economy in the same city. Wages up from 3 to 18 or 6 times, housing up from 24000 to 450,000 up 20 times.
    The Unreal economy

  41. Ryu Hayabusa

    Iarnród Eireann tweet trucker who strikes bridge.


    There’s a different kind of strike mooted to be coming down the tracks(pardon the pun) in the next few weeks.
    That’s not going to do much for the economic engine!

  42. bonbon

    Anyway DMcW, keep thinking about credit, the physical economy, and political economy. Break away from the deathly Keynes/Hayek/Friedman grasp from the grave. The future beckons!

    • whatamess

      “One may be attained at the sacrifice of the other, the result , a failure to arrive at either”

      Glass-Steagall is the GOAL Bonbon

      without it,we don’t stand a chance

    • Hah, the clammy hand of death reaches out from the grave to grasp the world economy in its icy grasp.
      Shiver me timbers- the pirate in me is back.
      Walk the plank you scallywag.
      Don’t come near me or I’ll hand you the black spot, that I will.
      AHH, you scurvy scoundrels!!

  43. Hello Michael

    Earlier you were suggesting that the money supply must be increased in order to expand or grow the economy.

    This has been demonstrably proven to not be the case. There is no need to expand the money supply in order to enlarge the economy.

    For example. Take your 10 farmers at a trade fair. All have something to sell and something to buy.
    They do not wish to barter but to buy what they wish and to sell what they had. For the sake of simplicity they all have 10 Euro worth of goods.

    As they all know each other they allow each other credit and so after an hour each has decided what to buy from the other in the amount of 10 EURO
    At this point all are owed 10 Euro and all owe 10 euro.

    Only one farmer came to the fair with a 10 euro note. all the others had hoped to sell what they had first and then use the money to buy.

    The first farmer paid his account to another with the 10 euro note. The second then paid the third and the the third used the same note again to pay the fourth and so on. Eventually the 9th paid the note to the tenth and the tenth used used the 10 Euro to pay the first. Now all debts for a total of 100 Euro have been satisfied with a single 10 Euro note being passed around.

    The 10 Euro note is still in the possession of the first farmer but all the transactions are satisfied and the 10 Euro note is ready to work again as a medium of exchange on another transaction.

    • The example works in principle Tony, but not in practice.

      It requires people waiting around all day to settle minor bills plus introducing the assumption that everyone wants to buy/sell in the same amount.

      It’s a simplistic economic model and we all know what they lead to.

      Real life is much more messy so whereas I agree with most of your posts on here regarding money and its supply, it’s not possible to be so restrictive to every day business.

      And before I get a lecture, I’m NOT talking about or advising the flooding economies with cash a la quantitative easing!

      • good morning Adam

        The demonstration was shrunk to 10 people as a demo for how it works. Money circulates between people. They do not stand around meeting at the end of the day but use currency immediately for a transaction. Money acts as we know as a medium of exchange. It is not consumed in the process as it is but a catalyst. We could have had 100 people or 500 one euro notes.

        The point to make is that in practice there is always enough money in circulation to effect transactions. It is never used up.

        It is not required to increase the money supply in order to enlarge the economy. That is the whole point.

        Then is demonstrated that adding to the money supply does not increase wealth at all. If it did we would all be wealthy by now.

        That is why the imitation of gold as money you call bitcoin is limited to 21 million coins. At that point there will be enough bitcoins to run the whole world economy if that is what people chose. Bitcoin would divide into one hundred thousands of a coin to equal $1 if necessary. inverse that and a bitcoin equals 100,000 dollars.or one million. There will always be enough.

        To have a stable thriving economy one needs stable money. Less interference the better from any individual control or especially state control.

        Enlarging the money supply is inflation. If the money supply isdoubled it will not increase the value of anything. I will just take twice as much money to buy the thing than it did before the money was added.

        The only beneficiary of this added money are those who get it first. The inside clique. Its called facism when the government leaks it to his close buddy in the private sector. middle class is destroyed and the poor devastated. We have it now don’t we.

        Yes it works fine in real life Adam.

        Take Care

    • michaelcoughlan

      hi Tony,

      I didn’t demonstrate that the money supply has to increase to expand the economy I demonstrated the opposite. If the economy increases in size and the money supply remains fixed the money in circulation will increase in value. The money supply has to increase on a par basis with the extra value produced to keep the money at the same value.

      • michaelcoughlan

        for example from above if the farmers come next week with twice the produce to sell the note they presented the previous week will now have twice the purchasing power. The trouble with gold circulating is it cant be broken down far enough to facilitate trade as it rises in value in line with economic expansion.

        Better to do what Bill still suggested back the currency with gold as the chineese are doing and use representative currency with the state issuing insurance free currency and NOT the banks issuing interest bearing currency.

  44. Read all about the great recovery
    Read all about the great recovery

    gotta get into that housing market.
    Great gains are a coming


    House price growth momentum accelerates in Dublin: Bloomberg discussed the housing market in Dublin after home prices rose in Ireland for the first time in six years in 2013. It noted that prices are still 47% below the peak in 2007, but there are signs of increased price growth, particularly in Dublin, due to a lack of supply. It said that Irish home prices will gain about 7% this year, according to a median estimate of 8 analysts it surveyed, while Dublin values may jump by as much as 14%.

  45. Atlantean

    Hi Paul Divers,

    Scheming to bring upon the Great War, & thus the Money Masters dream of World Government by them all the more close ;


    “When World War I began in 1914 Crowley was living in the United States.
    There he posed as an Irish revolutionary to infiltrate pro-German groups and engage in black propaganda on behalf of Britain’s SIS (Secret Intelligence Service or MI6) or the NID (Naval Intelligence Department).” (SECRET AGENT 666)

    Irish people, which would include true Irish republicans then [ Certainly not any who would do any murders, & God forbid "Atrocities" ; For such Acts would be out of character with Irish ways, & have in vast majority of cases been proved to be False Flags directed by Brit Agents ] are traditionally very suspicious of any English man claiming to be Irish ;
    This extends to English men who show Irish personal name, or antecedants, or even Irish passport.
    Certainly any whom they consider likely to be a Freemason.
    Or likely to spy on Irish community wheresoever.
    Or to be perverted.
    Thus, Crowley was rather foolish don’t u think ?

    Despite his allegiances to Rothschilds & cousin suts, I trust that were it today,- Crowley would find very objectionable the noble Grace of :

    Br. Nathanael Kapner

    Gilad Atzmon

    Henry Makow.

    Regards from a fellow Glasgow Celtic Fan,


    • Atlantean

      Typo ; cousin Suits

    • Atlantean

      How would the Scottish feel about such a dubious Claimer of Scottishness ?

      And, how would the Glasgow Celtic Fans think of such a dubious Claimer to Scottishness, or Irishness ?

      Scots being really from Ireland [ Scotia ]

      Allowing for preceding dwellers being Picts.

      Regards again,

      • Atlantean

        I like to imagine u & me uncovering such a Shill.

        And, he would not be a Shill unless he had managed to fool some of the people.

        But, Puss leaks eventually.

        The Pussy Shill is noticed.

        Obligation to consider seriously doubting the panicky intemperate Pussy Shill.

        Alba go Brach ! 8-) William Wallace had true Irish Ally

    • Paul Divers

      Here is a good one on corporate benefit scroungers.


      You mentioned Gilad. Tut tut. Does that mean you are anti-semitic? Best wait until said Brummy Spiv to decide for us don’t you think?

      Or Maybe Angela is taking note as of the links posted here.

      It was not that long ago said Brummy was telling us he doesn’t care about spooks spying on us but he has changed the record lately.

      Jailed and our minds reprogrammed by the Germans for posting links on a blog. It’s riduculous.

  46. Atlantean

    Of course all related to Matters Economic-Finacial-Political etc
    Saville working for Money Masters

    Here is real substantive stuff on that creep Saville ;

    Is real Hell for him ! ; That is where his Allegiances were all the time ; Hell

    No Problem to understand why a certain Pope gave him a Knighthood.
    That certain Pope gave Murdoch one also.

    I give this Link for to show how this Creep forced himself on a Nation which is suffering Brit Occupation of the North Eastern part of our Country.
    We are also prone to Brit Spook activity in the rest of the country.
    Truly,- Elections & Referenda are rigged to favor the Elites desired outcome.
    And, prone to Brit Spook activity in the Irish community who migrated or emigrated to the British Isles also.
    Probably accounts for how the Birmingham 6, & Guildford 4, were framed.
    Pseudo Irish thereabout acting as Spies would seek to implicate after the False Flag events.

    Peaceful & Noble ways of Fr. Denis Faul, & Derek Dougan are best.
    Similar are the Peaceful & Noble Br. Nathanael Kapner, Gilhad Atzmon, & Henry Makow.


    No way would a true Irish person have accepted Saville.

    But,- Spooks such as him do arrive with careful planned fanfare for force themselves on innocent Irish.

    Kind Regards again to my Fellow Glasgow Celtic Fan,


You must log in to post a comment.
× Hide comments