December 8, 2016

It is almost certain that there will be another euro crisis in 2017

Posted in Irish Independent · 145 comments ·

It is almost certain that there will be another euro crisis in 2017. The last time we had a euro crisis, the focus of attention was Greece; today the vortex is Italy.

Italy is not Greece. Italy is the third-largest economy in the Eurozone. Italy is the second-largest manufacturing nation in the EU after Germany. Italy is the largest debtor in Europe. The third-largest Italian bank is irredeemably bankrupt. Italy has no government and the people who are likely to win the next election want to take Italy out of the euro and replace the euro with their own currency, the lira.

These are the facts.

Our Finance Minister has said there is no problem in the Eurozone. I really don’t know what planet he is living on.

Unfortunately for the EU, if Greece was a tricky issue to deal with, Italy is — in economic terms — a massive Greece.

Unlike Greece when it was going bust, Italy can’t be patronised, isolated and vilified by the likes of Slovakia, Finland and — shamefully — our own Government. Italy is a country of close to 60 million people and unlike the British, who were always semi-detached Europeans, the Italians are founding members of the EU and original signatories of the Treaty of Rome, which is 60 years old in March.

By March, it is likely that Marine Le Pen will be the frontrunner in the French presidential election. Could she win? Of course she could. And if she wins, the euro is toast.

There is already a massive capital flight from Italy. This flight of money will extend to France in the months ahead.

The euro is the problem and if the EU wants to save itself, it may have to abandon the euro. Quite what that looks like is anyone’s guess, but here are the political facts: the two main Italian opposition parties, the people who won on Sunday, want Italy to hold a referendum on leaving the euro. Furthermore, Le Pen has explicitly stated that the day she wins, if she does, she will pull France out of the euro and reinstate the French franc.

Le Pen currently has 40pc of the electorate. All she needs is the same type of momentum that propelled Brexit, Donald Trump, and the vote in Italy, where the government lost — not by a few per cent, but by a whopping 60pc to 40pc.

After Italy, the chances of Ms Le Pen winning in France have increased yet again. We are talking about a political movement that is jumping across borders, across continents. It is nothing short of a democratic insurrection against the establishment and it is happening all over the world. Every time the outsider wins in one country, it emboldens the next outsider in the next country to have a go.

We are not immune. Arguably, Ireland was the canary in the coal mine. This time last year, Fine Gael strategists — and almost everyone else — were confident that the recovering economy would be enough to propel them into government. In the end, Fine Gael lost 25 seats. Similarly, in the UK the Remain side was confident that the British people wouldn’t make a leap in to the dark and vote to leave the EU. The Remain side made Fine Gael-style arguments about how well the economy was doing, how low unemployment was and how “looney” the opposition was; the electorate didn’t buy it.

The same happened with Mr Trump. Hillary Clinton argued that things in America were essentially good and Mr Trump was mad. The electorate backed Mr Trump.

The same thing happened in Italy and the electorate went for the disunited opposition, rather than the so-called sensible, safe-pair-of-hands government.

I think the same will happen in France.

So 2017 will be the year the British leave the EU, the year Italian banks go bust and Italy’s new government is headed for the first time ever by people who want to break up the euro, and it could be the year that Le Pen wins in France.

In term of the crisis in the euro, Italy will be the epicentre, so let’s focus on it. Three weeks ago, I wrote this column from Rome and suggested that a No vote was likely. But let’s gain a bit of altitude and put the problem of Italy and the rest of southern Europe in context.

At its most basic, Italy has the same problem that Greece, Spain, and Portugal have. It’s a familiar story.

People in the south of the Eurozone borrowed to buy goods from the wealthier north, mainly from Germany. This type of prosperity is rented, not earned. The economic growth they anticipated failed to occur. So there was a repayment problem.

The goods the southerners bought were mainly things like cars and nice goodies, so for the banks that lent to the people, there is no collateral to recover.

Writing off a massive loan as a loss will render the bank insolvent, so instead it goes into “extend and pretend” mode. The banks decide not to call in loans and try to extend repayment terms. But as growth evaporates, these loans just get worse with time, not better. And the sense of crisis spreads amongst the people like a virus in a crèche.

That’s what is happening in Italy and indeed throughout Southern Europe.

Eighteen percent of the total loans made by Italian banks are now considered to be non-performing and Italian banks have no extra capital.

Estimates are that Italian banks may need €40bn just to remain solvent.

Now with no government there is no plan as to how to raise the money to plug the hole in the Italian banks’ balance sheets.

It was announced yesterday that Banca Monte dei Paschi di Siena, the world’s oldest bank and the third largest lender in Italy, will be bailed out by the government this weekend.

This is the beginning. In fact, the Italian State may well have fired the gun for capital to leave the country and head to Germany.

Contagion will spread to France and it is against this background that France will host its presidential election.

What odds on President Le Pen now?


  1. Subscribe from freezing Dublin!

  2. Here, in warm Canary Islands.
    Your current article is frightening.
    I think the biggest problem with Greece, Italy, and Spain is that it is very impossible to collect taxes hence governments are broke. Valencia had to cancel their annual international tennis tournament this year because the Ayuntamiento had no money.Hence less tourists, less hotel bedrooms occupied etc.
    I was in Greece this year.First visit since 40 years ago,when we went every year for the family holiday.
    The country only deals in cash.! Car hire, hoteliers,etc. All request cash on arrival.They dont even want a booking deposit via credit card, going through the banking system.!
    Italians probably bigger tax dodgers than the Greeks (that’s saying something)
    the Germans should have taken charge of all the banks throughout Europe (not that they are without having sinned themselves) and stopped the rot long ago.
    ireland is in the process of breeding another Celtic tiger.Just needs the central bank to ease up on mortgage loan restrictions to complete the double whammy. No or little taxes from multinationals and the natives in rebellion against more water taxes etc.

    • Peter Atkinson

      Indeed. Banc Sabadell have have increased their annual fees on current accounts by 20% in the last quarter and have introduced charges on withdrawing cash from their ATM’s for non Banc Sabadell accounts. Pop across the road to Deutsche Bank and neither apply.

    • Margaret

      Please do not say we are breeding another Tiger. The Central Bank can cut back as well as ease up. Let’s hope sense prevails and we find some balance. Young profs among others are angry. Why is everything in Dublin? Can’t civil servants/ businesses/ profs thrive in Sligo, Roscommon, Waterford? We need the Garda stations back and the post offices open instead of building out around the M50.

      • Mike Lucey

        I agree Margaret. It looks to me that we have three ‘countries’ on this island, the North, The Pail (enlarged, now closer to the Shannon) and Culchieland.

        To make Culchieland attractive to the young professional working in Dublin we need to provide rail connectors that can get from, Cork-Dublin, Limerick-Dublin and Galway-Dublin in less than an hour. Its not an impossible task if it were to be handled by the right person.

        Michael O’Leary recently commented that it costs €30-40 to get from Cork to Dublin whereas he can fly folks all over Europe for this kind of money!

        Does anyone remember the movie, ‘Field of Dreams’?

        The catchphrase was, “If you build it, he will come.” It was built (baseball field) and a hell of a lot of them came. The same would apply to Culchieland if we had a chat with the Chinese and got them over to build a top quality rapid rail system. We could do a deal with them on repayment by us supplying green food and quality fish after we get back our fisheries.


        • Margaret

          I started work in the civil service many moons ago. There was no question of special rail links, one hour trains etc. Post offices, Garda stations, etc were open in rural areas, which were vibrant centres. What the hell happened to wipe out our towns? Young teachers are working in Dublin and their hearts are in Galway, Wexford, Donegal. They clear out at weekends. We need a Government drive to renew rural Ireland. Town after town has closed shops, closed pizza places etc and no jobs. We have the best countryside in the world. We need our rural towns back in business, all kinds of business.

      • Grzegorz Kolodziej


        “Why is everything in Dublin? Can’t civil servants/ businesses/ profs thrive in Sligo, Roscommon, Waterford?”

        I guess that you are blessed with young and vibrant age of below 30, so you might not remember what dinosaurs like us roaming the earth remember that the reason why everything is in the Big Smoke is this: when they tried to decentralised it, the civil servants refused and showed the government that – as in “Yes, Minister” – they are the boss.

        Furthemore, the Irish state has spent so much on buying empty fields for buildings into which the civil serpents were supposed to move that it was an equivalent of one F/A-18 Hornet with the cost of its servicing [in the age of terrorism, it would be germane to have something to say céad míle fáilte to the intruders, particularly that Mr Be-Be-Berrtie "if I have it, I'll spend it" Ahern, with all those trillions our moolah he did spend indeed, left Ireland - after decades of subsidies and loans - as the only EU country that is NOT fully covered by radar (including points of entry) - Michael Collins would turn in his grave].

    • ian22

      jesus that canary sunny weather has obviously gone to your head!!!the Germans are the ones who essentially caused the last bubble..who do you think lent the money in the first place..the Germans were quite happy to reap the rewards on the strength of massive loans to irish banks etc but the minute it went belly up they called us reckless and wanted ALL their money back..unsecured and unguarenteed bondholders were paid als o, which in my opinion was a criminal act.And you suggest that the Germans take over our banks????????????????..

      • StephenKenny

        The German banks made cheap money available to the local retail banks, who selected to whom to lend money, and for what reason .
        The same thing was happening, and is again happening, all over the place.

    • Deco

      The Greek public debt is massive. The Greek state is a debt collection mechanism for the nEU empire.

      Greeks avoiding tax are more moral in the circumstances than Greeks paying taxes.

      Because they are making an open admission that their country is ruled like it was under the Ottomans, as part of an imperial racket.

      I would not put the Germans in charge of the banks.

      The Dutch perhaps. Or the Danish. Or even the Luxembourgers.

      The Germans in charge of hospitals, and factories – yes. Certainly. Likewise hotels. And even state bureacracy. But considering the condition of D-Bank, I think that the banking profession in Germany needs to do a “lessons learned” workshop first, in relation to the past 10 years. Likewise the French.

    • Deco

      tirnanog – in Ireland it seems we are worried about the pennies, and blowing the pounds ( ot use a commonly used phrase, that is not technically correct, currently).

      The IW quango is an enormous scale failure on something that has been done much cheaper in UK regions like Yorkshire and Scotland, operating on a similar scale. And all because the labour productivity is abysmal, and the pensions commitment outrageous. In addition IW was designed by another state body with an arrogant mentality, as a result of monopolistic market countrol, who set up the billing system first, and worried about the infrastructure a long time afterwards.

      But you are correct. Except it is worse than you think.

      The real ripoff is the reflation of the Dublin housing bubble, so as to save NAMA, the banks, the local authorities, the institutional state, and the media.

      And all of these elements are deliberately complicit.

      Dublin will soon start to lose investment because of talent flight.

      Coveney is standing on top of this, delivering a result for the rich. There will be more social housing. And it will deliver for party political machines. It will be abused like nothing in decades, by local authority councillors. A votes for othere people’s money racket.

      But demand for social housing in a city close to near full employment is indicative of deeply flawed incentives to save and buy your own home.

      The whole thing is madness.

      FG lost 25 seats, because people realised that FG were liars.

      Of course FF and SF are also consistent liars, and their vote went up. Which is something that I find truly baffling.

  3. Patrick

    So do we negotiate an new Punt tied to Sterling as part of the Brexit deals.

    • michaelcoughlan

      Yes with a value lower then sterling

      • It is foolishness to tie a national currency to anything. The EURO may as well be retained. Retaining sovereignty is the goal, being tied to nobody. It is time for Ireland grow up and make its way in the world. The success of the 100 million plus Irish diaspora says Ireland has the talent to reach the top given the freedom to do so.

  4. Deco

    Italy-under-Grillo will be far more stable, and perform better than France-under-LePen, or Germany-under-Merkel.

    Why ?

    Because the Italians know how to get things done, and are autonomous to the degree that they are able to get around whatever ineptitude comes from the top political decision maker.

    I am actually not worried about Italy, if Italy leaves the Euro. The Italians will manage their own affairs much better than the amateurs in Brussels.

    I think France-minus-agriculture is a massive underperformer. And French agriculture performs because family members ignore the 36 hour working week. And because of the CAP program.

    The world has been expecting an Italian disaster for a decade and it has not happened.

    Nobody is expecting a French disaster. In my mind Fillon is all that stands between the French and an economic cathastophe. Which is something nobody is expecting.

    The worst event politically for France would be a two horse race between Manuel Valls (proven as useless) and Marine Le Pen (the same promises as Valls with a flag on it). They both represent the same nonsense about unsustainable squandering. Of course they hate each other – they are fighting for the same votes.

    On the other hand if Fillon gets in, he will immediately target Ireland’s tech and pharma sector for a hard sell on moving everything to the French regions.

    Bad news both ways for Ireland.

    Do we have a plan for this ?

    By plan, I mean something more substantive than a bunch of overpaid parasites on the radio on a Sunday morning, talking about everybody else being the problem but them – and playing deceitful games of juxtaposition, so as to make you feel that you need the corrupt, wasteful institutional state…..

    Because that is all that resulted from Brexit and Trump.

    Our competitiveness is failing. The public sector is bleeding cash. The private sector is anchored on tax avoidance. And the opinionocracy are spouting stuff that belongs on in field in Cavan at the back of a pig shed.

    • redriversix

      When did the current financial crisis end ?

      Did I miss it ?

      Was their a party ?

      Until we can have bankers and governments tell the truth about their balance sheets ,we are discussing theory.

      Which is what this site is based on I suppose ??

      It doesn’t matter anymore who is in charge of what Government and where.. Countries are run “in debt” and will never be able to make independent,rational decisions because of their and our dependence on money to keep the lights on.

      Notice how nothing is a lie anymore ? It’s now a untruth….

      Civil servants make a mistake across Europe and they get promoted.

      Their is no responsibility… no price to pay for fucking up…

      Truth does not further your career.

      The truth is out there…

      • michaelcoughlan


        Poetic as usual.

        This bit I disagree with;

        “Countries are run “in debt” and will never be able to make independent,rational decisions”

        They make perfectly rational decisions to suit THEMSELVES and the BANKS. There is of course another view and that is that fairness justice and freedom are more than words they are perspectives;

        • redriversix

          Ok.. I see.


          The power of words.

          Morning Micheal, I trust everything is wonderful in your world ?

          Isn’t it amazing that those of us with a interest in history and economics see how ,as a race,we continue to make the same mistakes time & time again. ?

          I know that’s a cliche but ,how true it is.

          Now that many of us have broken from the grip of fear and ask questions and don’t tip our cap every day it is quite liberating.

          I think the greatest fear to have broken free from is the fear created inside our own head. I found that to be my greatest enemy in life… once o learned to conquer that.. life became so much easier.

          That is real freedom… freedom from self. !!!!

          When you are free .. it really scares the shit out of people… well ,makes them a but uncomfortable !!

          Even as the powers that be are working out more & more efficient ways to make us subservient,indebted & fearful…once you gain freedom ,they just becomes something to laugh at and point at.

          Does this post make any sense. ? Not sure….

          Does it matter. ???

          Have a great day Micheal , only when we look after ourself will we be able to look after others …

          Why do this ?

          Because your worth it. ???? !!!!


          • michaelcoughlan

            “Isn’t it amazing that those of us with a interest in history and economics see how ,as a race,we continue to make the same mistakes time & time again. ?

            I think the greatest fear to have broken free from is the fear created inside our own head. I found that to be my greatest enemy in life… once I learned to conquer that.. life became so much easier.
            That is real freedom… freedom from self. !!!!

            When you are free .. it really scares the shit out of people… well ,makes them a but uncomfortable !!

            Even as the powers that be are working out more & more efficient ways to make us subservient,indebted & fearful…once you gain freedom ,they just becomes something to laugh at and point at.

            Does this post make any sense. ? Not sure….”


            Re above 1 to 5;

            yes,yes,yes,yes, and yes again.

            That post is the most important and profound post I have read since on the blog for the last few years. It makes so much sense it’s like its written with the insight of the Budda or Dali Lama themselves.

            I reached the same conclusion only 2 years ago at age 42. Slow learner or what?

            My life is so much more wonderful now that I have come to the same understanding as you.

            The reason some people like bankers etc. kill people Barry is because;

            1) They can,

            2) They like to.

            I don’t think it has ever been any other way.

            Keep the faith;

            Define the world as it is not as you would like it to be, pursue a strategy that allows you and your family to prosper in the face of the real politick, try not to hurt anyone, do what you enjoy doing, do your best to spread joy in the world.


  5. michaelcoughlan

    “It is almost certain that there will be another euro crisis in 2017.”


    It’s odd you should say that because the last one hasn’t ended and is om fact getting worse.


  6. michaelcoughlan

    “Our Finance Minister has said there is no problem in the Eurozone. I really don’t know what planet he is living on”

    He doesn’t live on another planet he lives in the same madhouse as peter Sutherland and the bonbons.

  7. michaelcoughlan

    It’s an excellent article.


  8. Deco

    Will there be a crisis ?

    Renzi said himself that there is a problem in Europe that is 100 times the size of Monte Paschi.

    In all probability, this time next year, it will be a household name.

    There is one person in Europe who is capable of turning a small problem, into an enormous mess. A person whose first approach to a crisis is always to keep distant from it, and pretend that it does not exist. Then when it gets bigger that person has a track record of making a massive PR stunt. And the everything gets out of control.

    That person is still in a position of great influence.

  9. “Failure to produce a legitimate bonafide gold-backed currency would mean the United States must proceed with the New Scheiss Dollar, an illegitimate fake phony farce of a currency. It would be subjected to a series of devaluations. The result would be heavy powerful painful price inflation from the import front. The effect would be to reverse a generation of exported inflation by the United States. The entire USEconomy would go into a downward spiral with higher prices, supply shortages, and social disorder. However, the rising prices would come from the currency crisis, and not so much from the hyper monetary inflation. That flood of $trillions has been effectively firewalled off. Jim Willie

  10. Grzegorz Kolodziej

    Hi Pat,

    As the previous thread is now old and you might miss it, I am taking the liberty of replying to it under the new article, including your reply – I hope you do not mind:

    “Pat Flannery
    December 8, 2016 at 10:56 am

    Grzegorz Kolodziej: thank you for the links to my June 2016 post re securitization. I really appreciate your effort to find it. I also watched the 2003 YouTube of David McWiliams you researched and provided. Here is a brief extract where he said that there were “no economic tools at our disposal to rein in lending. ”

    In saying that he was either covering for the Central Bank or he was completely ignorant of the rules of banking. I believe it was the former, I doubt he could be so ignorant of the primary role of the Central Bank. How could a trained economist, especially one who had worked at the Central Bank, not know that there were indeed very powerful economic tools available to the Central Bank to rein in lending? He blamed everybody except the very entity that he must have known were deliberately allowing the bubble to happen: the Irish Central Bank.

    He needs to answer this. He was not asked it at the Banking Enquiry.”

    My reply:

    If I were to give him a benefit of a doubt, I would say that David is an economist trained in a mainstream post-Keynesian tradition in which central banking is never a problem – neither is debt; all that counts is the aggregate demand (judging by his articles, it was not until recently that seeds of doubt about central banking started germinating in his mind, the first seed being his article “Going for gold”).

    He also could have meant a simple fact that the interest rates are set by ECB (so outside economic tools at OUR disposal); he has always been saying that Ireland does well when Germany is in stagnation and the US is booming (I’m not going into the substance of the said statement), and indubitably the ECB rates were set to suit the German economy; the effect for Ireland was that they were inflating the property bubble (as with advent of the euro currency, the interest rates were lower than what the Irish interest rates would have been had Ireland not joined the Euro, meaning that those buying property were encouraged to borrow larger amounts of money).

    As for the Irish central bankers and financial regulators themselves, frankly speeking I am of a considered opinion that they were incompetent.

    For example, three months before the infamous night of the bank guarantee (for which Sinn Fein have voted also, lest someone forgot), the Irish Central Bank report said,

    “The banks have negligible exposure to the sub-prime sector and they remain relatively healthy by the standard measures of capital, profitability and asset quality. This has been confirmed by the stress testing exercises we have carried out with the banks”.

    Afterwards the Central Bank maintained it had no powers to intervene in the market. Well, they had four directors on the board of the Financial Regulator, and the Central Bank had the power to issue directives to the Financial Regulator (none were issued – see “Ahern admits to part in Irish crisis”. Financial Times, 15 October 2009).

    You write,

    “he was either covering for the Central Bank” – this in my opinion overestimates the level of competence from the Irish Central Bank by
    a s s u m i n g that the Irish financial regulators have analysed the loan books of the Irish banks.

    They did not though, as it was clearly shown in a report by the Oireachtas Public Accounts Committee.

    I think that having lived in the US for so long, you might be STILL overestimating the level of foresight of the Dublin elites, leaning towards complicity, where sheer incompetence is a better explanations (but I won’t be braking my lance in the defense of that argument). If there was anyone who understood what was going on in Ireland, it was the German banks. After all – a point I have made here before and noone seem to have taken it seriously, even though it comes from a source within the EU Parliament – all major European Finance Ministers decisions have to be rubberstamped by head of the EuroGroup (nominated by Dr Wolfgang Schauble) and head of the Euro Working Group (Thomas Wieser). Even if never hear it in the media (that’s why I recommend reading past authors Plato, Tocqueville, Hayek and Bastiat to understand THE PRESENT, for as Hegel wrote,

    “Philosophy, as the thought of the world, does not appear until reality has completed its formative process, and made itself ready. History thus corroborates the teaching of the conception that only in the maturity of reality does the ideal appear as counterpart to the real, apprehends the real world in its substance, and shapes it into an intellectual kingdom. When philosophy paints its grey in grey, one form of life has become old, and by means of grey it cannot be rejuvenated, but only known. The owl of Minerva takes its flight only when the shades of night are gathering.” (G.W.F. Hegel, Philosophy of Right (1820), “Preface”).

    To see how blind the birds flying and twittering gibberish in the pre-night Irish twatosphere were, this was an article written in a newspaper which was relatively less guilty compared to, say, the anti-Irish Times with fat property magazines or the trade unions and their complete ingnorace of the impeeding property crash (occasionally, Indo had pre-crash articles warning that there will be no soft landing – the anti-Irish Times and the TV had nothing like that, except the said Mr McWilliams):

    But but but

    Not all Irish financial regulators were that stupid; the was one voice crying in the wilderness: in February 2000, Mr William Slattery (then former Deputy Head of Banking Supervision in the Central Bank of Ireland) predicted a property price fall of 30%–50% was possible if credit growth was not curbed.

    In 2011, I have decided that I had enough of the economic ignorance displayed in the Irish media, and went into a public discussion with the Irish Central Bank itself (here personified by Mr Casey), who started envying the Americans that Irish are not getting the same debt injections that the yankees were getting under the mad President Obama (forgetting that the US has dollar as the inflation-exporting mechanism, and the navy to make sure that the inflation exports do not come across any obstacles).

    Here is what I wrote:

    The very same week, Mr Casey has included all my arguments repeated ad verbatim into his 2 pages article in a glossy weekend edition of the anti-Irish Times, without quoting me as the author or contributor or a person he was writing against (this was however not nearly as bad as Mr Derek Scally accusing in his article in the anti-Irish Times – for German money – Poland of brutal censorship in the national TV, quoting President Obama’s words that were never censored because President Obama has NEVER SAID them in first place: I obtained a written confirmation thereof (with President’s full text of speech) from the US embassy in Poland and sent the anti-Irish Times a short, 200 words clarification to the anti-Irish Times asking them to clarify it for the readers – but they have, nomen omen, censored me and never published it.

    These facts (related to the Irish Central Bank) lend support to a point I have been trying to get across to the readers – blaming the lack of regulations for the financial crisis is dangerously misleading (and probably propounded by central bankers) because what if you have eejits as regulators (as it is usually the case?). Then more regulation will lead to more idiotic policies. The only solution is a total deregulation combined with a sound money system and the rule of law.

    This devolution will happen some day anyway, for the nature will not tolerate the sorry state of affairs, the only question is whether it happens due to people wising up or due to massive crisis, then tyranny, and then people wising up – the latter scenario as outlined by Plato in “The Republic” (I know the quotes long, but the Irish schools do not have Plato in their programs:

    “the persons whose property is taken from them are compelled to defend themselves before the people as they best can. … Insatiable desire … and … neglect … introduces the change in democracy, which occasions a demand for tyranny. … Does not tyranny spring from democracy.”

    ““Last of all comes … the tyrant. … In the early days of his power, he is full of smiles, and he salutes every one whom he meets … making promises in public and also in private, liberating debtors, and distributing land to the people and his followers, and wanting to be so kind and good to every one. … This … is the root from which a tyrant springs; when he first appears above ground he is a protector. … Hinting at the abolition of debts and partition of lands … he … begins to make a party against the rich. … that they may be impoverished by payment of taxes, and thus compelled to devote themselves to their daily wants and therefore less likely to conspire against him?”

    ““How then does a protector begin to change into a tyrant? … He begins to grow unpopular. … Then comes the famous request for a bodyguard, which is the device of all those who have got thus far in their tyrannical career – ‘Let not the people’s friend,’ as they say, ‘be lost to them.’ … The people readily assent; all their fears are for him – they have none for themselves. … And … the protector of whom we spoke, is to be seen … the overthrower of many, standing up in the chariot of state with the reins in his hand, no longer protector, but tyrant absolute. … The lion and serpent element in them disproportionately grows and gains strength. …”

    • Pat Flannery

      Grzegorz Kolodziej: I read all of your reply above and while I agree with much of what you said about the incredible degree of incompetence at the Central Bank I still think you are letting David McWilliams off too lightly.

      If it was in fact gross incompetence at the Central Bank and the Regulator, a German conspiracy or whatever, David should not have said at the time that there were “no economic tools at our disposal to rein in lending.” Of course there were and David had to have known there were!

      He used the fact that he had once worked for the Central Bank to gain credibility as a well-paid “celebrity economist”. He should have asked why the Irish banking regulations he knew existed were not being enforced, not incorrectly saying that there weren’t any.

      He owes us an explanation.

      • Grzegorz Kolodziej


        I hear you, and I see your point. You are probably right. Look, Pat, rest assure that I am not afraid to criticise our host, neither I am playing a role of a paid-plant on this blog, whose role would be to find sophisticated explanations for Mr McWilliams’ past statements.

        In fact, my first ever post here came from my urge to straighten his then opinion on Polish-US military deals, to which he was in my knowledge partly misled by a person who works for RT (did he even know that? – I checked that that she does), namely that Poland got a great help from the US in the 90s and that the US equips Poland with the latest military equipment: in fact, the 50% debt reduction Poland has received was much less what Greece has received, as Greece has also received a 50% debt reduction, but never paid its debts and never had so much austerity as Poland had (Poland spends more on debt repayment every year than Greece ever did).

        Those who are ignorant about history refuse to be informed that as to IMF’s debt write-off, Poland has ALREADY paid all its debts in the 80s – and the debt write-off was just on the interest rates, but then Poland had to borrow money buy the US bonds to that tune, so the total debt was back to the initial level in two years. People and you, David – when will you finally comprehend that the 90s IMF debt write off in Poland was the same as the Irish banks bailout was?

        As to the US giving Poland the latest military equipment – there is no country on earth who have the US so much as Poland: Poland has financed the reopening of the assembly line for F16s, thanks to which the US could sell its next, more modern versions to Greece and Arab countries; and it pays the US FOUR times more for the same equipment as the non-NATO member Finland does; in total, I estimate that Poland has overpaid the US approximately 100 billion dollars in military equipment and some financial services, effecitively launching its version of the Marshall Plan for the US worker).

        So I am not afraid to confront David’s statements if needed and I proved it.


        People are entitled to err in their judgement, and David has just recently wrote an article in which he proposes to give the Central Bank building to new Irish start-ups.

        “He should have asked why the Irish banking regulations he knew existed were not being enforced, not incorrectly saying that there weren’t any.”

        Pat – maybe I do not understand finance as well as you do


        If all major European Finance Ministers decisions have to be rubberstamped by head of the EuroGroup and head of the Euro Working Group (all Germans – this is not a German conspiracy – this is a German wise, far-seeing imperial policy)

        Then would it not be the reason why “why the Irish banking regulations he knew existed were not being enforced”?

        • Grzegorz Kolodziej

          who have the US = which has subsidised the US so much

          • Pat Flannery

            Grzegorz Kolodziej: When David made that TV broadcast in 2003 was he not aware that Dublin’s IFSC had become the global center of securitization?

            Was he not aware that securitization, not conventional bank lending, was the source of the avalanche of cash pouring into the Irish property bubble?

            Was he not aware that Germany’s largest bank at the time, Depfa, had moved its headquarters to the IFSC in 2002 under special legislation by the Irish Government?

            Was he not aware that Depfa had moved here in order to sell securitized debt packages that could not be sold legally in Germany. These securitized debt packages were created to fund German public infrastructure. David even spoke German, how could he not be aware of these huge economic transactions going on between the German and Irish Governments?

            The real story of the Irish banking/property collapse has yet to be told. It is not the way David tells it. The part played by securitization, Depfa, Hypo and the two Governments, German and Irish, are central to the real truth.

            As for securitization being the main culprit, to quote from my June 2016 post you liked so well:

            “The current debt explosion began with the mass adoption of securitization, which was the financial atom bomb that detonated the financial hydrogen bomb. Just as the real atom bomb detonates the real hydrogen bomb, securitization detonates derivatives.”

            David’s “explanation” of the property crash without even mentioning securitization is like explaining the Cold War without ever mentioning the Atomic Bomb.

          • Sideshow Bob


            My understanding is that securitization ddid not play a significant role in the Irish situation. Here is a better authority than me though if you wish to hear more:


          • Pat Flannery

            Sideshow Bob: “Most of the credit issued in Ireland during the property boom was non-securitized, more or less old fashioned development finance, investment loans and residential mortgages.”

            Right up there with “authoritative” sites that say human activity is not a factor in global warming.

          • Sideshow Bob

            That isn´t any kind of a valid argument , Pat. And you know it.

            It states the following in the linked article:

            “Essentially, northern European banks invested in the over-heating property markets of Ireland and Spain (and elsewhere) by lending to banks in those countries. Securitization did play a role in Spain (López and Rodríguez, 2010; Norris and Byrne, 2015), but it was far from the main vehicle through which credit flowed into real estate. Nor was it the vehicle through which income streams arising from Irish residential and commercial real estate flowed bank into the international financial system.´´

            This is a referenced article which uses Academic Papers( i.e. peer reviewed ) as it sources for these statements by someone who appears be an academic of some ilk. Norris and Byrne are DIT professors I believe, and i have read some of their work. López and Rodríguez are professors from the University of Barcelona, the most eminent University in Spain. I will try to read what i can of theirs in the original Spanish as soon as I can because I am interested.

            Meantime, I have a question for you securitization theory. If the likes of the Germans or the Dutch, or the French or the Belgians for that matter who have equivalently well off economies and the banks have access to the same financial gimmicks why did they all not have large booms and busts over the last 20 years?

          • Pat Flannery

            Sideshow Bob: I bought Sugarman’s book a week ago and read it all. It is only 91 pages long but contains some very important quotations from various newspapers and blogs. On page 25 for example it quotes an article in the Irish Times by Derek Scally dated July 8, 2009”

            “THE LIQUIDITY problems of Dublin-based Depfa bank last September brought the entire German banking system to within a hair’s breadth of collapse, according to Deutsche Bank chief Josef Ackermann.”

            As to your question “If the likes of the Germans or the Dutch, or the French or the Belgians for that matter who have equivalently well off economies and the banks have access to the same financial gimmicks why did they all not have large booms and busts over the last 20 years?”

            Your question is based on a logical fallacy known as “arguing from the specific to the general” which invalidates your question. What happened in Ireland cannot be applied to the countries you mention. Thank goodness for the rules of logic which are as rigid as mathematics.

          • Sideshow Bob

            Alright then Pat, Mr Logic himself.

            Your tone is quite insulting.

            Facts are the basis of logic. They constitute whatever it is “the premise´´ is based on. If you don´t have the facts right ALL of your logic ( as flawed as it is in your case ) that follows cannot possibly be right. Same goes for maths.

            The thing is, you see, that facts matter.

            I challenged you, politely and with respect, that the facts as stated in the Academic domain in peer reviewed papers on that subject in Ireland a long time after the events were that there was no securitization of mortgages an dthat banks relied on lending from the interbank market.

            You responded with an ad-homen attack on the source and ignored what was stated.

            If you want to challenge that core fact, play the ball and not the man.

          • Sideshow Bob

            Coming back to my supposed logical fallacy: Fine then just take the German market then. It is a fair comparison, Germany is a rich developed nation inside the same trading block as Ireland with roundly similar standards and rights for property and development to Ireland and has had an economically good time now for most of the years since the crash.

            So my question for you is: Why haven´t the German population lose the run of themselves and start buying homes and selling them to one another for crazy prices if they had securitization sitting there in the background?

          • Sideshow Bob

            *lost the run…

          • Sideshow Bob

            So in the end I was curious and I did the leg work on securization. This is what I found;

            The linked article above reference a number of papers where an official report one P(atrick) Honohan of the Central Bank is the main and correctly cited source. We all have heard of him I am sure. The document quoted, from May 2010, is entitled “The Irish Banking Crisis, Regulatory and Financial Stability Policy ´´( you can look it up ).On page 114 of that document, Section 8.4, he says of the Irish banks (in 2008) that they were“were highly dependent on wholesale funding´´.

            A separate and later publication by the Central Bank entitled “Irish Residential Mortgage Backed Securities – Preliminary Analysis of Loan Level Data´´ from 2012 ( please be my guest look it up )gives then total mortgage market of 135 billion euro of which just shy of 40 billion is in RMBS´s, or 29% of the market.

            Seperately, this article says that Ulster Bank (RBS) were the single biggest player in this area with 4.4 billion euro of RMBS´s. If they are included in the above numbers I don´t know.


            These are the facts as far as I could ascertain them.

          • Sideshow Bob

            The biggest single problem with that McWilliams broadcast of 2003 for me was that he postured a lot as being an expert and predicted an imminent collapse in the property market. As wikipedia says about predictions “A prediction might be valid if the predictor is a knowledgeable person in the field and is employing sound reasoning and accurate data.´´

            Of course no such collapse occurred in 2003 or 2004 or 2005 or 2006 or 2007.

            So, if his basic reasoning was sound enough ( – that there is a clear unsustainable speculative bubble and that such bubbles always burst badly – ) we can only surmise that his grasp of the data was very very poor.

            So, he got the call badly wrong. In fact he looked like `the boy who cried wolf´ more than anything else as a result.

            I think this lack of a grasp of data was clearly the problem and I think how the data related to the mechanics of residential development was also significant. I bet he still can´t locate the moment when demand and supply matched and the whole thing went over a cliff. There has been ample evidence in his article and TV shows in the last year for me that he still doesn´t get this.

            However, coming back to the broadcast; it did succeed in devaluing a lot of what he said around that time and for many years thereafter. It made him difficult to take seriously on a public level for a long time.

            Then in 2008, with the onset of the crisis people vaguely remembered that he said something about all of this back in 2003 and he suddenly gained the sheen of a prophet in the wilderness. an alternative voice. And the Monty Python-esque scenes featuring Brian Lenihan to start with began.

            Actually, the situation with Steve Kean has been much the same. Kean is a far, far bigger spoofer though.

      • Sideshow Bob

        Pat Flannery and Grzegorz, and anyone else interested in all of this for that matter.

        Just in case you haven´t heard ( the whistleblower ) Jonathon Sugarman´s book is out for a mere 4 quid. Purchasing it would serve a few good causes I think, including our own better understanding of the whole shambolic situation. Information follows:

        • Grzegorz Kolodziej

          I did not even know about the website and its great feature is that you can buy a book as a gift for someone. I think I might just do it, as I was thinking of buying a Christmas present for a girl who works for RTE.

          I have to say this looks like a fantastic website.

          Some time ago I wrote an article on Keynes for a similar website, who pays for publications (a Swedish one). They evaluate articles before they publish them (they have different categories). With mine though, 2 months have passed and they are still evaluating it.

          There is a great book written on the debasing of the value of intellectual work in our dumbed-down, social-media vulgarities-hurling world:

          Maybe initiatives like Smashword are the oases in the desert?

          A world in which the low, the vulgar, the gossipy and the dumb is promoted by the corporations, and the high, the inspired, the subtle and the intellectual is laughed at.

          For as José Ortega y Gasset wrote:

          “The mass crushes beneath it everything that is different, everything that is excellent, individual, qualified and select. Anybody who is not like everybody, who does not think like everybody, runs the risk of being eliminated. And it is clear, of course, that this “everybody” is not “everybody.” “Everybody” was normally the complex unity of the mass and the divergent, specialised minorities. Nowadays, “everybody” is the mass alone.”

          “The Revolt of the Masses”, Chap.I: The Coming Of The Masses

          • Sideshow Bob

            Hi Grzegorz,

            I hadn´t really looked at the website I just wanted to pass on a link to everyone here to where Sugarman´s book could be purchased but I will go back and take a look.

            I will buy the book later today and hopefully have a read of it during Xmas.

  11. Here is a way to introduce silver to the national currency. Very similar to my own ruminations and effectively to Hugo Salinas Price. The day there is no option but a crash or such innovation is fast approaching.

    “”Assuming Trump can slay the FED and Congress with law and justice, to be effective, the Scheiss dollar must use Treasury silver certificates and the LUSK CLUTCH. What is the LUSK CLUTCH you might ask? Good question, glad you asked! The LUSK CLUTCH is an economic wheel which indirectly and incrementally meshes Treasury silver future certificates into the current banking system of accounting thereby saving complex systems and civilized production, distribution, and accounting. First abolish the IRS completely, then, turn off the FED’s ability to poof&post brand new loans or poof&post brand new currency, that power will go back to the U.S. Treasury. To engage the LUSK CLUTCH, for all U.S. government expenditures, payout with freshly printed paper Treasury 5 Year Silver Future Certificates. The printed 2017 one dollar silver certificates will say “equivalent to one FED dollar” and also will say “redeemable for 1/20th troy ounce .999 silver anytime after Jan 1st 2022.” The 2018 certificate will say redeemable after Jan 1st 2023 for lets say 1/25th ounce, whatever the going price of silver is at that time of issue. The beauty is, these notes can be meshed into the current banking system of accounting on a dollar for dollar tabulation. They will be immediately fungible at the hardware store, able to mesh with one’s present bank account, or coveted under the mattress anticipating increases in purchasing value, whatever the holder wishes. By collecting a stiff tariff in silver at the border, with an awesome trade war in full blossom, Trump can Make America Great Again. Peace be to the precious snowflakes, your futures are assured.” Matt Lusk

  12. “”These facts (related to the Irish Central Bank) lend support to a point I have been trying to get across to the readers ……

    ….The only solution is a total deregulation combined with a sound money system and the rule of law.”"

    I agree with you, Grzegorz, 100%


    DB turned states evidence and cooperated with authorities and provided information to the litigants charging that banks including DB had conspired to set the silver fix and in doing so were manipulating markets, particularly silver, to their own benefit and the detriment of market participants.

    It is well known in limited quarters that there are no such things as a free market. Definitive proof is now available. This may now become More widely known. Several major banks are now directly in the firing line.

  14. Truthist
    Master this, & then proceed to be a “f…king Nuisance” with this info..
    U’d be doing the Irish nation a great service thence.

    • McGoo

      Excellent document. Everyone should read. I had figued out most of this myself over the last few years, but it’s nice to have it confirmed and lots of grey areas clarified and explained concisely but accurately.

      • Truthist

        Helpful reply McGoo ;
        I have not finished reading it yet.
        I would welcome ur further input about this document at early phase of discussions to further articles from David.
        I surprised to find reply as late as 11 Dec..
        Just took notion to see if Grzegorz replied to post of mine.
        I do not have feature set up to notify me of latest posts.

  15. Deco

    Still no update on the Irish institutional state’s approach to Brexit.

    Meanwhile the Brits are getting moving.

    The Bill is now approved by Parlaiment.

    And within days we see this.

    18 months ago moving the tax headquarters to Ireland was all the rage.

    Britain means business.

    Ireland means pretence.

    Will the know-it-all millionaires on Official Ireland’s official opinionating on weekend radio, next start badmouthing anybody who moves their tax residency to the UK ? Because as a strategy, that is about as useful as piddling into a gale force wind.

    Our superficiality is costing us dear.

    Direct solutions are deemed unworthy. They are simply not impressive enough. And the media always has a favoured advertising revenue spender to be looked after, in the silence of scripted representation.

  16. disc_writes

    Italy will not vote to leave the Euro.

    There will be no referendum, no government decree, no act of parliament. Nothing.

    The politics of abandoning the Euro are just too complex. The legal hurdles are insurmountable to any political force, except possibly a military dictator.

    When in power, any party will do a Syriza and accept whatever conditions Germany is willing to dictate for the whole circus to continue.

    M5S may threaten a referendum, but it is just that: an empty threat.

    That is not to say that Italy will not be forced by events to issue its own currency at some point in the future, but it will only happen in the event of a crisis. A majestic crisis. A the-hell-is-breaking-loose crisis.

    And I am not an expert in French matters, but I think things are not very different for Ms. Le Pen than they would be for a future Italian prime minister.

  17. Deco

    Things that we need to be honest about – as the cost of the pretence are killing us.

    Our obedience to the imperial project in Brussels.

    The identities of the Anglo Bondholders.

    The identities of the AIB Bondholders.

    The need for one urban bus station/terminus on the site of the CBoI or a simlar central location. And a all-weather walk way to College Green to the Luas stop that will be there. With no traffic on Dame Street, College Green, Nassau Street or Westmoreland street. Buses, bikes and pedestrians only.

    The need for DART-U.

    The need to move more state bureacracy to Galway or a location in the Midlands.

    The fact that Dublin is too expensive for Third level. Serious thought needs to be given to moving one of the third level bodies to Waterford, and having two thrid level bodies in Waterford, where it will be a university town. This works in other countries. What is going on currently in dublin is bonkers. Of the four large bodies in Dublin, UCD is the one that is the underperformer. One only has to look at the inept failures on the ISEQ to see this. Waterford wants a university. How about UCW ? Let them all move to the South East. It would make enormous space available for urban (10 levels and above) residential development.

    The need for high rise rental accomodation within walking or cycling distance of workplaces like Intel, Google, Microsoft, etc… So that transient workers can move in within two weeks of getting a job in Dublin. Currently this is a nightmare for employers. And it is now affecting investment.

    The need to scale back an oversized institutional state.

    The need to prune third level bodies of courses that are making graduates unemployable. The need to overhaul FAS/Solas/whatever they will rebrand it as next, to make it useful to people trying to join the workforce.

    Drop VAT on broadband. It is now an essential item.

    Sell RTE, and use the site to provide urban residential space for people working in “the Silicon docks”. It is very central, and could do a lot to accelerate productivity in the value added sector.

    • Truthist

      Do not fret for the adaptability of RTE employees to coping outside their cosy shop ;
      Apparently, they are “fluid” folk.

  18. Truthist

    I just had a look at FAS training centre “travelling allowances”.Travel

    Course Participant Travel Allowances
    (Full-time and part-time courses)
    Effective: 1 January 2002

    Miles / Kilometres Rate* € Per Week
    3 – 5 miles / 5 – 8 kilometres 4.60
    5 – 10 miles / 8 – 16 kilometres 11.90
    10 – 20 miles / 16 – 32 kilometres 17.60
    20 – 30 miles / 32 – 48 kilometres 21.60
    30 – 40 miles / 48 – 64 kilometres 27.70
    40 – 50 miles / 64 – 80 kilometres 32.60
    If a course participant is in receipt of a travel allowance, accommodation allowances are not payable.

    If a course participant is in receipt of an accommodation allowance, travel allowances are not payable.

    Every effort should be made to reduce the actual cost of travel through measures such as block purchase, weekly tickets, etc.

    *These rates are the maximum payable for the single journey distance from the course participant’s residence to the location of the training course.

    I note :

    the very low value of the travel allowances

    the 4 sentences at the end ;
    Sentences which I contend result in very unfair, & cruel, circumstances for the generic trainee having to attend FAS trainee centre by day & return by evening & / or night.
    Next, to put these allowances in context, I will gather info from :
    Bus Eireann
    Dublin Bus
    I omit gathering info from Iarnroid Eireann because I aim initially just to compare the FAS / “FARCE ?” travel allowances versus the bus public transport options.
    I realise, though, that some “actual” trainee or “prospective” trainee or “forced to retire because travel allowance too small” trainee may have to get combination of train & bus public transport for to attend training centre & return home.
    But, already, I am of the opinion that there have been sick minds at work over many a year continuously crafting a viciously insufficient travel allowance for the FAS / FARCE ? Training Centre trainees.
    By the way :
    the “Vocational Education Committees” [ V.E.C.'s ] are now replaced by “Educational & Training Boards” [ E.T.B.'s ]
    FAS is now under the umbrella of SOLAS
    SOLAS is in turn under the umbrella of relevant E.T.B..
    Again, the high-jinks with restructuring & name-changing for to duck from being sued & duck also from inevitable public notoriety each public body earns because of the incompetence & malice of the white collared Civil / Public SERPENTS of these organisations in particular, have come to be.

    • Truthist

      Please find Bus “Discount” Travel Tickets for comparison against the FAS / FARCE ? miserly Travel Allowances :
      Dublin Bus
      Example from Bus Eireann

    • Truthist

      Omission ;
      Here is the Link for FAS Training Centre Travel Allowance rates

    • Grzegorz Kolodziej


      Very shortly – if the integrated annual tranport system cost 360 euro (that is 30 euro a month), like in Vienna (that includes metro, all buses and trams), you could move from any part of Dublin to any other part in one hour rather three (in heavy traffic, Rathmines to Loughlinstown would probably take more like four), and for 400 euro you could rent a nice aparment in the city centre (where you would not really need a bus) rather than a room with fungi, mice and a sociopath;
      if Dublin had all of that – what cities like Vienna, Berlin or Krakow have – then

      in all fairness

      even the poorest would not really need rent allowance and travel allowances – would they?


      It’s not like we do earn enough. We earn lots, but we spent it all on monopolies (transport, CAP, etc).

      When I once wrote that on the space of 20 years, an average working low-wage professional overpays Dublin Bus – which, with their forced monopoly, are de facto a terrorist organisation – a whopping 32,000 euro – so effectively, Dublin Bus steals a car from each commuting taxpayer – I was met with ridicule from someone.

      2,000 euro a year for an integrated-me-ass ticket to be a good slave – and noone in Ireland is angry, noone has ever protested. With all the justified anger about the Irish Water, this is like 10 times as bad – but people are fine. Ah sure.

      This is how much in denial people are here (that like weather, this state of affairs where middle-income trade unions terrorise the low-income classes).

      This is Dublin
      The overcrowded buses’ poisonous steel
      This is Dublin
      This is how we feel

      • Hi Grzegorz

        Here is the Capital Region, Victoria, BC bus charges.

        Good to compare and it may add to your point.

        • Grzegorz Kolodziej

          This is a great and concise info. Great to hear about a place from someone living there. $85.00 Monthly Pass for adults – the Dublin Bus equivalent in Canadian dollars is $213 dollars. How would Canadians reacts to that?

          Funny we should mention Canada, because yesterday I visited my best friend in town. What marked this visit from thousands of others was that one of his daughters, who always treated me basically as a comedian who, like, totally, does not dig modernity, said that she wanted to have a chat with me (she is 17, I know her since she was 3, and she never wanted to talk to me).

          She did not beat about the bush: making sure no one else can hear her, she said: “I have decided that I want to emigrate to Canada before I turn 27, and live on a farm. What would you advise me, do you think I should do it?”

          What would you answer to a 17 year old, Tony?

          • It has been my observation that those who do what they have a passion for, do well. They create a niche of expertise for themselves.

            As for living on a farm , I would question where? Where is a suitable place.

            A good way for a teenager to find our is to become a Wwoofer. spend a month or so working on an organic farm in exchange for a place to stay, some food and maybe some pocket money.

            Here is a web site, but research more!!

            Three years ago while I was footloose and fancy free I went woofing on a saltspring farm and then another. Being over 70 I surprise a number of people by outworking the youths. I have both knowledge and skills that offset youth but I had durability.
            There are many different reasons to Wwoof and I met people from canada, japan, Holland, the US and more.

            Wwoofing for a year or two and travelling from place to place would be a great experience.

            The VISA requirements I have not looked into.

          • Grzegorz Kolodziej

            Wwoofer is a very good idea. It’s the one that would not have occured to me if it was not for you.

            It would test someone’s determination too. People aged 17 often have energy to implement some ideas, but it is more rare that they would have stamina to sustain the effort.

            In my opinion, Canada will do well in 10 years time only if the US does well. Will it? We’ll see.

            “Being over 70 I surprise a number of people by outworking the youths.”

            I cannot believe you are over 70 – you have some much energy. I have always pictured you as 60 the most, even though you once said that you did emigrate in the 60s.

            Admittedly I am considerably younger, but I feel 70. Academia, politics and women has worn me out (and I mean literally – ending of a long relation with an Irish woman caused stress so severe that I ended up in a hospital – Poles are tough on the surface, but overly sentimental inside; as the great romantic poet Adam Mickiewicz wrote about the Polish soul:

            “Our nation is like lava. On the top it is hard and hideous, but its internal fire cannot be extinguished even in one hundred years of coldness. So let’s spit on the crust and go down, to the profundity!”).

            I guess it could be worse – some nations have it the other way round.

            Politics in Ireland is less stressful than in Poland – you do not die in a car accident if you are in a possession of really compromising documents (that’s what makes politics in Poland so serious an activity):



            As to the late Mr Lepper (may he rest in peace), the information is not entirely correct – he did not die because he opposed the EU (many politicians in Poland opposed the EU), but because he was meant to be Mr Jaroslaw Kaczynski’s main witness in the court case related to corruption among politicians close to Mr Donald Tusk.

            The article in wikipedia is pure bull: he did not have debts that were unmanagable, and Mr Lepper was far from being depressed – before his death he was expressing joy that his son was miraculously cured, and virtually days before his death he released a video in which he warned his felt his life was in danger.

            When Mr Lepper hanged himself, he removed all DNA traces from the rope and the chair – can you believe that? I do not.

        • Grzegorz

          One thing has seeped into my consciousness. There is a gas tax for the region where the public transit operates. It is 3.5 cents a litre and there is another 2 cents cents a litre being asked for. all motorists pay toward the public transit!!!

      • Truthist

        I have been reliably informed that for at least 1 metropolis in Ireland the bus inspectorate are a “Gay [ Homosexual ]” Mafia.
        I wonder how the Inspectorate situation & indeed the general staffing situation is nationwide with CIE’s bus services.

  19. Deco

    This is hilarious.

    The ECB are playing a game of bluff, with the Italians, called “you are the only ones with a dodgy bank”. The same thing happened with the Greeks. And then the Irish. And then the Spanish. And then to reinforce the pretence there are stress tests that amount to a free pass.

    The fact is that Italy is not the only country with a dodgy bank. And Monte Paschi is tiny compared to the biggest problem of all.

    The ECB’s antics in trying to pretend there is no problem bigger than Monte Paschi, therefore there is no need to bailout Monte Passchi, is turning the Italians against the entire system. It seems that they are about to find out that the ECB is far worse than anything run by the elements of their own society that they do not trust.

    The Italians are not lying about Monte Paschi, or about the condition of the Italian banking system. It is in trouble, exactly as they are saying it is in trouble.

    For some strange reason, nobody else can be that even that honest. And in particular in Northern Europe. Luther caused a controversy when he turned Germans and Scandinavians against the duplicity of the Italians in the 1520s. But now the shoe is on the other foot. Grillo is pointing out the hypocrisy of Northern Europeans in respect of financial matters and morality.

    Renzi did warn the ECB that they faced a far bigger problem than Monte Passchi. Renzi stated that there was one problem in the ECB that is 100 times the size of Monte Paschi. And he told them that they would have to change their rules.

    Italy is NOT the problem. The “let’s blame ” approach from EU imperial power apparatchiks is not problem solving. It is presenting an excuse that will not work. It is blaming one nationality for the fact that the entire system is a mess.

    It is part of the game of pretend.

    The problem is that the real condition of Europe’s banking system is actually extremely precarious.

    The ECB’s policy on Monte Passchi is supposed to be a declaration of confidence in one really large bank, that has been subject of much speculation for years.

    The current mess is telling the markets that if the Italians are not going to get bailed out, then you may as well take every financial investment in the Swedish banking system out as fast as possible, because there is no way the EU will help Sweden.

    In other words, Sweden is now definitely on a trajectory to a financial aybss.

    And the ECB will have to change it’s mind anyway when the bank that nobody will talk about is forced to tell the truth about the Derivatives market.

    Anyway, at this point in time, the ECB is simply unreliable. It is proving to be an unmanageable junction of controversy, blunders, inconsistency, coverups and financial oppression.

    The ECB is pretending that it will not bailout Monte Passchi, it is pretending that the other banks are fine. It is Lenihan-esque. Absolute nonsense.

    If you read American blog sites on finance and economics, you quickly find out that the banks under the ECB, are in a precarious position.

    You find out also that Sweden and Canada are past the point of return on residential boom&bust cycles, with absurd PE valuations. The Swedish banking system is in a very serious state. It is similar to Ireland in 2006.

    2007 was Ireland’s first banking meltdown. But 2017, will probably be the second in a generation for Sweden. And if it does not happen in 2017, then 2018 will be a disaster. There is simply too much imbalance. Stockholm real estate prices competeting with those of London is absurd, because taxes and incomes in London are more favourable to repayment – to say nothing of business activity.

    The ECB is standing like King Canute, pretending that everything will be fine, as per the decrees that it issues. But the numbers are actually very bad, and a number of imbalances have still to be worked out.

    Forget the pronouncements by pretenders who want us to believe them. The facts are are the real problem.

    • But he continues: “Membership of the euro has put the Italians on a permanent path to being poorer”. Not so. It was the Italians who used cheap euro-denominated money to borrow profligately. They, and they alone are responsible for the mismanagement of their economy and their debt problems, which incidentally now exceed the Maastricht 60% limit by a further 75%. So, who is policing that?

      It(ECB) recycles the money spent by Italians so that it can be spent again, or even hoarded outside Italy, ad infinitum. TARGET2 is living proof of the ridiculousness behind the euro project.

      But surely, we all know that establishment economists, including the Bank’s own, have an unrivalled track record of getting things wrong. To expect them to suddenly exhibit forecasting prescience is Carney’s personal triumph of hope over reality.

      Yes, Mr Carney, my middle-class friends have done very well out of their investments and property, thanks to monetary inflation, but they still pay their gardeners and maids roughly the same depreciated wages.

      If Mr. Carney and Lord Hague want to criticize current economic events, they should start by properly understanding the negative effects of fiscal and monetary intervention. They should realise that propping up defunct enterprises by lowering the cost of borrowing and supporting them with government contracts is Luddite and destructive. And above all, they should realise that ordinary people going about their business are infinitely adaptable, have an ability to withstand government and central bank silliness to a remarkable degree, and would deliver their taxes much more effectively if they were simply allowed to just get on with their business without having to suffer from government and central bank micro-management.

      All above quotes are attributable to Alasdair Macleod.

      There that about wraps up the knowledge that a fixed, manipulated economy and centralized banking will result in poverty and social decay except for the lucky few. But even they will ultimately have to defend their comparative wealth with guns and clubs.

  20. Deco

    The disaster of 2017 will be Swedish real estate finally finds gravity.

  21. dwalsh

    There are many similarities between neoliberal capitalism today and the ancien regime of the late medieval period prior to the revolutions that swept away the secular aristocracies which had ruled for centuries.

    The aristocratic order of the ancien regime was incapable of managing a modern international state and this gave rise to social and economic crises which impacted the poorest and most vulnerable most harshly.

    The aristocracy responded to the crises in the same way the capitalist elites are responding today; they imposed the costs and the damages of their mismanagement and incompetence on the general population; refusing to give an inch or a penny themselves.

    We all know how this worked out for the aristocracies of the ancient regime.

    The hereditary aristocracies of the ancien regime and their vast private estates have been replaced by the mercantile aristocracies of today and their vast private estates, or transnational corporations, many of which are wealthier than most nations. Transnational corporations are essentially private global empires.

    Unrestrained neoliberal capitalism is incapable of managing a planetary civilisation. The social and economic and environmental crises being generated by its mismanagement and incompetence are becoming critical; and the costs and damages are being imposed on the general population by the technocratic elites who serve the capitalist aristocracy.

    I doubt neoliberal capitalism is reformable. The system has an inherent logic that drives it, which I would summarise as the profit imperative. It cannot reform itself; and there is no power centre today capable of challenging it; with the exception of the combined will of the general population.

    The inevitable moment of the coalescing of the will of the people is approaching. Brexit and Trump and other shocks to come are signs of its emergence. The response of the elites will be to double down and entrench. The crises will exacerbate and the mounting costs and damages will be imposed on the population.

    I wish humanity could manage this process rationally and humanely; but I don’t think it can or will.

    Tragically conditions will have to get worse before they can get better.

    • “I doubt neoliberal capitalism is reformable”

      I wish there was a definite absolute opinion as to define these labels applied. What is the definition of neo liberal, or capitalism. These names mean different things to different people.

      There is a great deal of doubt in my mind that there is a free market left in existence. All are manipulated by bankers and politicians.

      There is no rule of law as regulators refuse to properly examine and prosecute law breakers or enforce regulations.

      The media lie and mislead and ill-inform. “False News” dominates in the MSM

      So I am not sure that capitalism or liberalism or anything else like can be blamed. The cause is the loss of the rule of law and the manipulation and attendant corruption that goes with it. It is robbery and deceit. A loss of moral structure. Anything goes. Means justify the ends. To the victor go the spoils!!!!!!

      • dwalsh

        The rule of law was not accidentally mislaid Tony; it has been intentionally corrupted. Neoliberal capitalism has usurped the social and political and legal order.

        The usual meaning of those words will suffice to explain what my meaning is.

        • I agree the rule of law is corrupted.
          I agree it is deliberate.
          My point is that the definition of neo liberal capitalism is not available. There is no usual and even if there were the unusual must always be considered. It leads to confusion.
          Better to describe without a label and just state the argument or fact. It leads to more certainty and better understanding.
          Perhaps it is me , but I do not think that I am the only one whose eyes glaze over at the mention of such labeling.

          For instance.

          Totally different ideas here. Totally confusing.

          • dwalsh

            Hi Tony
            The undoubted fact that many people are unaware of the meanings of many economic terms; or have conflicting misunderstandings of them, is no good reason to discard those terms; especially among people who have some knowledge of economics – as I do and I presume you do too.

            Pursuing that line comes across as wanting to obstruct and shut down discussion. It basically argues that since people have different understandings of words then all discussion is fruitless.

            What is the point of this blog and your contributions to it if it all means nothing?

            I do not accept the conclusions you reach on the basis of the possibility of lexical ignorance and confusion. Arguments you present along those lines are not legitimate contributions to discussion. They are attempts to shut me up and close me down.

            Just being blunt and honest Tony.
            I will not pay heed to such attempts to obstruct and close me down.

          • You are very touchy. I have said nothing and done nothing that can be remotely thought of as you phrase it ‘shut you down”

            Far from it. I am pointing out to you that terminology used that is uncertain as to its meaning does not aid debate or clarification.
            If I see such terminology I will not respond because it is a waste of my time trying to ascertain what you really mean.

            Use plain straightforward language. Preferably in short sentences. I know that I am prone to using convoluted language so that on re reading it I find I do not know what it is I meant to say!!

            Any time I see the prefix Neo I mentally kick the essay into the garbage.

            Anyway, dwalsh, I largely agree with what you say so keep saying!!

          • dwalsh

            Hi Tony

            Re our previous exchange:

            I will continue to express myself as I choose; using terms which I feel accurately express my meaning. And I will continue to use sentence structures and lengths as I choose.

            If you dont understand the terms I use and dont like the manner in which I express myself, do not read my comments or reply.

            All the best


        • BYW I never said that the rule of law was accidentally mislaid. Where did you get that from?

  22. Noelito

    The author mentions that many loans are non performing, but I think he should have gone further and explained why… The fact is that Italy may be “the second-largest manufacturing nation in the EU after Germany” but therein lies the rub, it’s not really manufacturing that much any more (albeit more than others apart from the Germans). The big picture reality is that every few centuries the global geopolitical powerhouses change, like Tectonic plates. Nations such as the US, UK, France, Spain and even Portugal have had their day in the sun, now it is the turn of the East, it is the turn of the middle classes in China et al to live the first world life, and sadly for the rest, including Western Europe, standards of living are going to fall faster than a bungee jumper. I am typing this from Valencia, Spain, which has become a dead country, unemployment is high, and the only shops doing any business are the cheap Chinese textiles shops, salaries have also plummetted and things are going to get worse before or even if they get better. In this context it is easy to see why Trump won, with the West under siege from the rampaging East, it is inevitable that protectionism and protectionists will prosper, for the first world as we know it, Winter is Coming!!

    • mike flannelly

      Why if loans are non performing does it mean DOOM and GLOOM ?
      The loans can be measured and can be restructured.
      There are measures.

      ” The goods the southerners bought were mainly things like cars and nice goodies, so for the banks that lent to the people, there is no collateral to recover.
      Writing off a massive loan as a loss will render the bank insolvent, so instead it goes into “extend and pretend” mode. The banks decide not to call in loans and try to extend repayment terms. But as growth evaporates, these loans just get worse with time, not better. And the sense of crisis spreads amongst the people like a virus in a crèche.
      That’s what is happening in Italy and indeed throughout Southern Europe. ” – DMW.

      Car loans and goodies are superficial shit that can be restructured.
      ALL property debt could also be restructured.
      Perhaps the problem is not with bankers but with corrupt politicians, economists and IRISH LAW that seems to look the other way ( possibly are fucking completely corrupt or THICK)

  23. [...] ‘bazooka’ reloaded until at least December 2017 – GoldCore 12/09  Almost certain there will be another euro crisis in 2017 – David McWilliams 12/09  Cash is no longer king: phasing out physical money – [...]

  24. “”According to the plaintiffs, records surrendered by Deutsche Bank show traders and submitters coordinating trades in advance of a daily phone call, manipulating the spot market for silver, conspiring to fix the spread on silver offered to customers and using illegal strategies to rig prices.”"

    • Anyone who denies that gold and silver are manipulated either has not spent time examining the evidence or is financially incentivized to refute all allegations. In other words, they are either ignorant or willfully corrupt. This includes the entire universe of politically corrupt western Central Bankers and professionally criminal Wall Street bankers. But first and foremost it includes all three branches of Government.— Dave from Denver.

      And the PM markets are just the tip of the iceberg.

  25. mike flannelly



    Frances Firzgerald

    Isolde Goggin

    We are almost 2017

    Lucky us.

  26. Truthist

    More evidence of how the “Sham[rock]” Republic is not tenable for putting down roots in.
    Ur kids are not safe from the Apparatus that guards the rich.
    Garda-Landlords / Landlord-Gardai Civil SERPENTS pedophilia accused get investigated by the “go ask my uncle am I a liar” Garda Síochána Ombudsman Commission (GSOC) at 1st instance.
    Garda Síochána Ombudsman Commission [ GSOC ] is also just an iteration of Garda Complaints Board.
    And, note the typical secrecy about Garda-Landlords / Landlord-Gardai controversies ;
    Surely, the public are at least immediately entitled to know the location of where the Garda-Landlord / Landlord-Garda has been operating ?

  27. Grzegorz Kolodziej

    Dear readers, both conservative and liberal, both pro- and anti-”refugees”, those who voted for Mr Higgins, McGuinness, or Gallagher, or did not vote.

    Above, I wrote about manipulations of the Irish Times regarding their political reports on Poland. The problem with the Irish Times is that their “expert” on Poland, Mr Derek Scally, lives in Berlin, not in Poland, and gets all his information on political situation in Poland from the German media, whose only sources on Poland are Adam Michnik’s “Gazeta Wyborcza” and SS-established, BND-run weekly “Newsweek” of Mr Tomasz Lis – a master-manipulator leftie (son of a communist apparatchik) and a pathological liar recently dumped by his wife, who outrageously accused the Kaczynski-nominated Polish President Andrzej Duda of… having a Jewish father-in-law and posted fake twits of President’s daughter (recently I have publically accused Mr Lis of slandering the leader of Polish nationalists, Mr Marian Kowalski, by posting fake photos of Mr Kowalski giving the Roman salute – challenging Mr Lis that had he not used trick photography, he should sue me, for I claim he is a liar; he did not).

    The biggest of all manipulations of the Irish public opinion committed by the anti-Irish Times was an article by Mr Derek Scally in which he claims that Poland’s state run broadcaster TVP has censored President Obama remarks:


    The problem with that article (and the atrocious level of the vast majority of the Irish media articles related to countries other the Ireland and the UK) is that as confirmed by the US embassy, President Obama did not say what the Irish Times claimed he had said – Mr Scally has just bovinly (I give him a benefit of a doubt and do not say maliciously) repeated that after the German media (another problem with Mr Scally’s article is that Mr Scally’s allegation that

    “Proposed changes to operations at the constitutional tribunal have been rejected by judges as unconstitutional, as have efforts by the government to set aside judicial appointments by the previous governments”

    ignore that those judicial appointments are illegitimate because the previous government illegally appointed two new justices while simultaneously retiring two sitting justices before their terms were up.

    The Irish Times refused to publish my clarifications on any of the above.

    But what I have recently found out was that the anti-Irish Times actually does have an Irish correspondent, interesting chap (despite being staunchly anti-Catholic), who does live in Poland (40km from the town I was born), and this is what he wrote on Mr Jaroslaw Kaczynski’s attitude to refugees:

    “Party leader, Kaczynski is of course the titular Wizard, the wily old filibuster who in reality is all smoke and mirrors and concentrated horseshit. Like the Wizard, he has a touch of badness about him. His comments regarding refugees carrying diseases was straight out of a Mein Kampf seminar. What does this tell you? As with Hitler’s 12 million best-seller, people will believe anything, the only difference is the German people didn’t have the benefit of hindsight to determine whether the charismatic Austrian vegetarian, dog-lover, artist, was actually evil.”

    What was that, a western media correspondent of the Irish “paper of reference”, or the young Mr Ian Paisley speaking on the Pope?! Would the “Irish Times” readers not be better informed if I was writing articles on politics in Poland? Kaczynski is “actually evil” – fuck me pink, I did not know “The Irish Times” employs an exorcist.

    Folks, I do not know about you, but in my opinion this a higly biased opinion, bordering on the hate-speech.

    It just happens that I have a link (with English translations) to the speech made by Mr Jaroslaw Kaczynski to which the Galway man refers to in the opinion above, and I am posting a 10 min video with that speech, for you to judge whether The Irish Times’ correspondents opinion is fair or not; whether it gives the Irish readers an accurate or a misleading information.

    I AM APPEALING TO YOU: REGARDLESS OF YOU POLITICAL VIEWS, MAKE UP YOUR OWN MIND WHETHER MR KACZYNSKI’S SPEECH CORRESPONDS WITH ITS ASSESSMENT GIVEN BY THE IRISH TIMES CORRESPONDENT IN POLAND: are Mr Jaroslaw Kaczynski’s “comments regarding refugees carrying diseases” taken straight “straight out of a Mein Kampf seminar”?

    I have my own opinion on it, but I want you to arrive at your conclusions (this is not about whether you are for or against the “refugees”, and this is not about Poland, about which you are not obliged to give a flying f…k – THIS IS ABOUT WHETHER WE HAVE A PROFESSIONAL AND FREE JOURNALISM IN IRELAND OR HAVE YOU BEEN MANIPULATED – AND ABOUT THAT YOU SHOULD CARE).

    • Truthist

      I viewed the links that u gave above.
      Result ;
      I agree with u Grzegorz.
      By the way, the Irish State’s upper classes — middle classes & other classes upwards ; So, really I mean “upper than underclasses” — treat the indigenous Irish underclasses as if the Irish underclasses are contagious disease.

      But, the Irish indigenous underclasses & the imported social welfare foreigners are :

      very lucrative customer bases for the “upper than underclasses” ; private sector & public sector & straddling both sectors

      very docile punch-bags for the inflated egos & malice of the “upper than underclasses” acting as Civil SERPENTS & those in private sector also

      very lucrative “headage” to justify the status & career climbing & opulent salaries of the “upper than underclasses” acting as Civil SERPENTS.

      • Grzegorz Kolodziej

        This, by the way, was the Irish Times’ correspondents’ in Poland reaction to PiS (Law and Justice) winning the election: I have to admit that such is the level of his hysteria (at least as high as the liberal media’s reactions to Donald Trump, if not more hysterical), that one cannot get angry at his depiction of the political situation in Poland – one can only laugh at it.

        “As a persistent and keen observer of nations, I have often compared present-day Poland to Ireland in the 1980’s.”

        - what, you too only had oranges and bananas in shops in Ireland once a year and could go to prison for selling meat in the town market? (G.K.).

        “By means of a popular vote, the people have chosen to neuter the judiciary.”

        - he means the Constitutional Tribunal, a body established by Gen. Jaruzelski during the Martial Law, who stopped the vetting of communist agents in the noughties (G.K.).

        “And maybe the past here was better.”

        - no it was not (G.K.)

        “Something in the Polish psyche has long been seduced by Communism’s warm, authoritarian embrace.”

        - yea, hence every decade since 1956 we had hundreds of strikes with people being shot (G.K.). I think he confused Poland with the Irish Workers Party, President Higgins and Sinn Fein.

        “And now that it’s back I can’t help sensing how snug and relaxed, the Poles feel.”

        - The Irish Times journalists never get snug though, or relaxes (i.e. about the property bubble) (G.K.)

        “Of course this is great news for Poles of all ages, especially those with a fondness for the other right-wing, eighties-era flavours – Apartheid, Ceausescu, Thaterism, Reaganomics or indeed anyone who recently came out of a thirty year coma”

        - I wonder if “The Irish Times” correspondent in Poland has ever come out of his coma (G.K.)

        “So the good ship Polandia is sailing through chartered waters. No surprises ahead. Most Poles have been here before. The Leader is always right and he’s always watching. This is only because he cares about you. He cares about your loyalty. Your patriotism. Don’t worry if you don’t understand, the public media news broadcasts will explain everything right after they warn you about the liberal newspaper editor who turned into a reptile and ate a nun and shat her out in the shape of a Star of David.”

        - and some people think that Mr David Icke is insane (G.K.)

        “Me? I’m clinging to my Irish passport. Lucky me, I’ve always got the plane option. I don’t think the rest of Poland will be so lucky.”

        - but not all the Irish are so lucky as the Irish Times correspondent. Some of them cannot got the plane, because they have no savings – only debt left after “The Irish Times” decade of support of the property bubble and trade unions imposing monopoly prices on family who have to struggle with mortgage repayments/rents/childcare cost/public transport cost/car insurance cost.

        “The Anti-Irish Times” – your source of objective, well researched and unbiased information on Poland and everything else.

    • coldblow


      You linked to this video before and I listened to it again, not least to practise my Polish comprehension. I didn’t hear the word ‘chorob-’ or see ‘disease’ mentioned in translation. What he said was straight forward common sense. I could never imagine an Irish minister saying anything like it, or an Irish politician of any hue (including independents), as he would be branded a racist. (I don’t think fear of being called a racist is the reason, but rather that it has not occurred to anyone to believe or say anything common sense.) I very much doubt if the Guardian would be any different, or indeed any newspaper in this part of the world (for all that it is fashionable to decry the ‘right wing press’). Not even the dreaded Daily Mail.

      Once again, however, I would repeat that this is irrational behaviour and, in an irrational climate, there is no reason why reasonable argument (for instance about evidence, about whether someone actually said or did what he is said to said or done) should have any effect.

      Rational criticism is simply rebutted, ridiculed or ignored. If clear evidence is presented they will refuse to look at it. If somehow they are forced to look at it they will look for a way to weasel out, eg ‘what about x, y, or z, then?’, or ‘you *do* know X is a fascist/ climate denier/ tax evader/ bought and paid for by the fossil fuel industries?’. Anything but to look at the truth or ‘reality’. This is why I think political correctness is a huge fantasy. It has its own ‘facts’ and statistics, its own perception which is blind to anything which does not suit. In a fantasy the last thing you welcome is reality. It is like telling an alcoholic that he has a drinking problem.

      For example, David called Trump a ‘racist’ in an article a few weeks ago. I asked on here for any evidence to support this charge. The climate of opinion on Trump has changed a little since and he has not repeated this. Opinion could well shift back again and then the ‘racist’ slur could be repeated. Nobody will be called to account.

      • coldblow

        Let’s just test my theory. Here are a couple of reasonable statements.

        There is no convincing evidence that Jimmy Savile ever committed abuse.

        The accusations of abuse made against the Catholic Church in Ireland were grossly exaggerated, founded on lies and took place in a shameful climate of mass hysteria and self-delusion.

        Castro was a vicious and oppressive tyrant who came close to provoking nuclear war and ruined his country.

        Somebody is bound to bite so watch the tone of the reply. It will be blustering outrage and emotional ad hominem.

        • Grzegorz Kolodziej

          In keeping with your testing, while there might have been some authentic cases of abuse by Catholic Church (certainly there were some known cases of a cover-up in Vatican, especially after the Second Vatican Council), the whole thing pretty much reminds me of the mock trials in the Soviet Union, minus torture to wringle out false self-accusations. For example:

          1. If someone says that he or she was abused in the 1950s, I’d say “and you have just bundled it up for 60 years till all accused die?”
          2. “But we were opressed by the Catholic Church and these things could not have been mentioned” – those people would say.
          To which I’d answer – opressed: how many people did the Catholic Church kill for trying to tell the truth about the M. laundries (and the truth was that half of the girls would leave after a year – not much of an imprisonment to me)? None? Oh I see. Because in some countries people had courage to speak the truth even if they were risking their lives for that.
          3. Then there is this case of 800 children skulls that turns out to be a total fake and vanishes from the media as suddenly as it appears.
          4. And where is the other side – that is the accused priests – speaking in the media, according to the Latin civilisation principle audi alteram partem? Or is the RTE completely like Pravda?
          5. To put it into perspective – try go to an insurance company with a claim relating to an accident from 50 years ago, saying that you could not speak because you were in fear of bad publicity.

          I could go with that.

          As to Castro – there was not t h a t many politicians in western world praising this guy who killed 30 times more people than Pinochet or Mussolini or Ku-Klux-Klan (i.e. noone in Poland did), so President Higgins is one of the absolutely dumbest wankers among not only Irish, but western world politicians (I am only using language he uses when someone does not agree with him).

          And talking about Irish politicians like the monumentally ugly Mr Higgins, who supported the Soviet Union (with their stooges like Arafat), North Korea or STASI in the 80s (some of them even took money for it, and I did name names from the Labour Party in the past, twice): this is in my opinion is a state treason and it should be punishable by death, like in a case of Lord Haw-Haw.

          • Grzegorz Kolodziej

            taking money from STASI or Soviet Embassy is treason. In that, I am not talking about President Higgins – but yous know who I am talking about, and Mr Higgins’ statements at the time, while not falling into the treason category, should have been also X-rayed by counter-intelligence

        • Grzegorz Kolodziej

          And last but not least – all those people (among which a tiny percentage could have been really abused, but that could happen in every institution), they are willing to forgive their terrible sufferings – surely worse than in Auschwitz (lots of Poles went through Auschwitz and did not get any compensation) and physical abuse (none of which left any physical traces) for a small amount of over 100 million euro, which the religious orders paid.
          Just one thing, I guess, would reduce the laundries claims cases by a factor of 1,000 – ok, we will track and punish the abusers, but yous will get fuck all money, only the apology (if the truth is the only thing yees are after). Yep.

          • coldblow


            I agree with nearly all you write. As it happens, Introvigne in the second video I linked to, mentions in passing that the true number of paedophile priests, world-wide, is no more in the hundreds. Your suggestion about not allowing compensation is often suggested and implemented in some countries, as far as I am aware. The latest chapter in the ongoing nonsense is the scare about paedophile rings operating in English football clubs.

            This article is about the monumental foolishness of the Residential Institutions Redress Board:


            While Jimmy Savile metamporhozed from being a popular oddball into one of the worst abusers in English history (a claim made by the NSPCC soon after the posthumous story broke, presumably pulling the evidence out of thin air) these residential homes have been revealed as the Irish Gulag and the church of the vast majority of the people turns out to have been systematically abusive. This means that millions of Irish people all those years had the wool pulled over their eyes. How this was done is unclear. In Savile’s case he was the Evil Genius who spent every waking moment ‘grooming’ his ‘prey’ (note the vocabulary). In fact he had supernatural powers including time travel, bi-location and the ability to walk through solid walls (as in Duncroft School for problem girls where the legend was born). He also had the amazing power to abuse people in broad daylight in front of crowds of people without anyone noticing!

            Similarly the Evil Church, which is now apparently discredited so that any attempt to speak up for it is met with derision about the ‘cover up’, apparently managed to make its evil way without anyone in Ireland even noticing.

            Has the Tuam Babies skull trove turned out to be officially non-existent? They must have buried the news on page 28. (Hitchens mentioned recently that such news is usually buried on the right-hand page as fewer people are likely to spot it – or is it the left-hand one?)The last I heard they were going to bring in diggers. Bringing in the diggers is frequent element in the more hysterical witch hunts and it means that it is reaching the end. From what I have learnt they never find anything.

            There is a simple rule of thumb here. If a story seems to strange to be true then it isn’t true.

            My interest in these extreme, and obviously hoax, stories is what they tell us about human nature. In other words, the fantasy is not confined to them but reaches everywhere.
            Christopher Booker wrote a precocious and fascinating book in 1969, The Neophiliacs, which explains the ‘Fab Sixties’ (you are probably more used to the term ‘Swinging Sixties) in terms of a five-stage ‘fantasy cycle’. He applies the same approach to the global warming scare and does so very convincingly (The Real Climate Disaster). However, he wrote recently about something or other ‘in the light of what we all now know from the Savile case’. I found it very interesting that he hadn’t spotted it.

            It is a huge subject, Grzegorz, and has diverted my attention for the last couple of years. I had been concentrating on extravert behaviour, although there are close links of course.

            ‘yous know who I am talking about’ Actually I don’t but I imagine it is a prominent Labour politician with a hard -left background.

          • Grzegorz Kolodziej

            I do not feel competent to have any judgement on Jimmy Saville. Frankly, even when lived in the UK I was not watching any shows on Beep other than Formula 1, Top Gear and Andrew McNeile (sometimes Eastenders, but this was not my choice – dinners with girls I was sharing; it struck me that Eastenders did not feature any eastern Europeans – or any non-English Caucasians (even no Irish) – but, from minorities only amiable British-Indians (and what about the London Jews?! Is Ian’s character Jewish, just thinking outloud?)).

            In fact, I had a 5 year period in my life when, by choice, I was not watching any TV at all except for F1. Among my friends, I was at that time the most up to date with politicds as my brain was not strained by the information noise and I was able to focus only on important events.

            Interesting fact: when we talk about paedophilia in the Church (and I am not saying there was not any, but common – RTE had a month when EVERY news was starting from it), perhaps it would not go amiss if people knew that – boohoo! – out of each 1,000 CONVICTED paedophiles (so we are not talking gossip), 400 (four and a hundred) are homosexuals. “Did not tink about dat, did ya?” – I used to say to every Church basher and see his face expression changing.

            But – I have sad news – with the current Pope, I am not a big fan of Vatican myself. Yes, I know – don’t mind the Eejit on top, we are the Church – but…

            P.S. What do you think of Mr David Icke? This question is not loaded – I just have my own opinion (too long to share it today) and I am curious of yours…

            P.S. II. I just remember when you reminded me of Richard Dawson’s opinion that he thought he would shock people in Dublin talking about atheism. What a f…g idiot he is. Btw, he did not let in my comment on his website and shunned a question I asked him publicly.

          • Grzegorz Kolodziej

            Hmm, I have just checked he is spelled Savile. That’s strange, given the name’s origin.

          • Grzegorz Kolodziej

            “‘yous know who I am talking about’ Actually I don’t but I imagine it is a prominent Labour politician with a hard -left background.”

            Sorry, S, I am rushing today.

            I covered that extensively in the past and have no mental space to re-write it.

            So all I can say is this: Messrs Garland and De Rossa – sue, you fucking whores.

          • Grzegorz Kolodziej

            There are more cases of coure (not only in Labour, but also in SF – and I am curious about universities) – but I gave you only the Lord-Haw-Haw-like ones.

            I have to say though – as much as I hate Lord Haw-Haw, you’ve got to admit the bloke had phantasy.

          • coldblow


            Just a quick reply.

            Yes, it is Savile with one ‘l’. He was a deejay with a popular touch. He was very popular with the working classes, was quick witted and, while he boasted of his womanizing exploits, he was oddly old-fashioned in his values (odd compared to his peers in the entertainment business). He was also a Catholic.

            I have only watched about five minutes of East Enders in my whole life. I’m from sarf-east London so I don’t like the idea of the East End (home of W*st Ham Utd) or any other soap. Coronation Street was once very funny but they had to stop that and dropped all the amusing characters. They have a character called Roy, an old-fashioned eccentric, who used to be married to a Hayley, who used to be a man but had had a sex change. The hilarious thing was that ‘she’ was played by a woman in real life. The only thing on our telly is football on Sky Sports.

            I would be wary of using statistics of convicted paedophile priests as many convictions would be unjust. The Nora Wall case is instructive (see her Wiki entry). My main source of information would be Rory O’Connor’s Irish Salem blog. He was a middle ranking civil servant just like myself (probably retired by now), didn’t believe the hype and set out to dig for the real story. His blog is a gem. He would be worth a hundred of the useless journalists we have nowadays.

            I admired Pope Benedict but I don’t much care for Francis. He is too much the extravert and apparently swayed by conventional opinion (however, this may be mainly because of the spin put on the reporting).

            I remember David Icke from the days he was a television sports presenter. I have never read more than twenty words he has written and would class him alongside Chris Spivey.

  28. Mike Lucey

    Did anyone see ‘Atlantic’ on RTE Thursday night. Hopefully it will wake up the nation as to what we (via politicians) gave away for a ‘pat on the head’!

  29. Here in PV we have made a sortie or two down the main streets of the city and through the shops and street and beach vendors. Three times after buying a small item I asked to proprietor how the business was. Repeated was the fact that there are way fewer visitors. This is in to the high season and the stores are empty. The food shops and cafes etc are bereft of people except the bars along the waterfront and they are busy but not overflowing. Who is missing, I was told, is the American tourist. Those that are here spend some but the numbers are missing.

    This fits with all I know about the sad state of the US economy and the lack of income and savings of a majority of people.

    Here is commentary re the US

    “”Granted, DG’s core customer is low-income. However, as more Americans slide into the “low income” segment, it will affect overall retail sales, especially with regard to disposable income. My point here is that, despite the sense of “hope” signaled by the “Trump rally,” in general the average American is not feeling optimistic about the economy and I believe this will translate into a poor holiday season for both retailers and the overall economy. – Short Seller’s Journal, Dec 4 issue

    “Retail sales this holiday season are going to be abysmal. Everyone with whom I’ve chatted who’s been out holiday shopping – I mean everyone – has commented on how eerily quiet the stores are this year.” Dave from Denver says the same thing as me.

  30. ” I urge anyone reading this missive to make a donation to the GATA cause ( It is the least we can do as a token of respect for the work of patriots in search of free markets and a return of the rule of law.” Michael Bellanger

  31. Truthist

    @ Grzegorz,

    Re ;
    Mr. Scally,Irish Times reporting from Germany about Poland
    Not Mr. / Ms. whomsoever, Irish Times reporting from Poland about Germany

    Maybe Mr. Scally has some beau in Germany & is loathe to be in Poland reporting about Poland.
    In general, I understand that the “liberal 8-) “-libertine-communist-corporate-fascist media — i.e. the main-stream media [ M.S.M. ] — are very hostile to current democratically elected government of Poland because this government are seeking to protect :

    the life of the pre-born children from being murdered / aborted

    the mores of the Polish nation from increasing homosexual indoctrination

    Poland from being flooded with bogus refugees given that a] many of similar bogus refugees have been caught raping children [ boys & girls ] & women of both bogus refugees & host country citizens [ Ref. Sweden, Germany, inter alia ] & b] the males older than adolescent may actually have been commiting atrocities for Mshd-CIA-MI6-French Secret Service-Saudi Secret Service-Turkish Secret Service [ termed in order of control ] false-flag ISIS AND are now sent into Europe to rape & economically tear down the caucasian beasts / g..yim.

    When will any of the mainstream

    • Truthist

      When will any of the M.S.M. of Ireland expose the Garda-Landlords / Landlord-Gardai — as a block — being on the take from the drug barons to turn a blind eye to the pushing & dealing & consuming of hard drugs [ including Heroin ] ?
      It has not been determined if the drug-squad are party to that corruption.
      I still have hope that the drug-squad are not bent.

    • Grzegorz Kolodziej


      Although you correctly identify the reasons why the Polish government has bad press in the MSM (and even when we say MSM, we should qualify that this really is only German and French media, BBC and some of the US MSM – not all US MSM give them a bad press; furthermore, not even all Russian media (which are state owned) give them bad press all the time, and in China for example the PiS government has a very good press.

      Furthemore, Die Zeit had an incredibly denigrating article about Kaczynski a year ago, but… roughly 90% of their readers (so you are talking conservative Germans) comments attacked the article for bias).

      So – to reiterate my points I outlaid dozens of times (and Schluss with that for I need to wake up early tomorrow), the MOST IMPORTANT reason why the Polish government is so hated is – and I am unable to get my point across on that to you, or David, or anyone else – is that the new Polish government wants to recreate the old concept of Intermarium, thus derailing the German project of having the EU to serve them by maintaining peripheral countries in an uncompetitive state, whereby SURPLUSES FROM THE JURISDICTIONS WHERE THEY ARE CREATED (Germany and Benelux) ARE TAKEN AND SIPHONED INTO PRODUCTIVE INVESTMENTS IN DEFICIT COUNTRIES (using tax loophole that only Germans and Beneluxians are allowed) IN ORDER TO GENERATE INCOMES NECESSARY TO BUY GOODS FROM SURPLUS AREA, while ensuring (via CAP) that the peripheral agricultures are not competitive to France and Spain.

      This had different names and variants in the past (MittelEuropa, Grosser Raum, etc).

      All the rest – migrants, homo-propaganda, etc – are just TOOLS.

      And the anti-government protests in Warsaw and fake reporting in the likes of The Irish Times (which is still 10 times better than any German media – all controlled by BND) are not directed TO THE PiS GOVERNMENT – they are directed to the PUBLIC OPINION IN THE WEST TO PREPARE THE GROUND FOR THE FOREIGN INTERVENTION.

      The Poles, in large, really do not care that much if someone is black or gay, until they block the streets or try to indoctrinate their schools (after all, it was the Poles who were electing foreign kings, not the “tolerant” English, Prussians or French).

      They do care though about the corruption, or if someone tells them work for peanuts or emigrate, they are worried that Kohl was willing to prolong the occupation of east Germany rather than sign a Peace Treaty with Poland (still not signed), that almost 80% of the local media is foreign, and they do care when the German state media are constantly distorting WWII history – onto which the likes of Beep or CNN are jumping into because it suits their purposes.

      • Grzegorz Kolodziej

        Grosserraum = grossraum

        I cannot do any more explanation on geopolitics as I have probably done too many anyway and I thought that the concepts I explained are simple, but to expand on it:

        And – something that no one, but absolutely no one in Ireland has noticed – while pushing for the US military withdrawal from Europe, unnoticed in the Irish media was German Minister’s Steinmeier wish that perhaps Germany should possess nuclear weapons (this was known to me since I read 3 volumes of De Gaulle – CAP is only to let France develop nuclear weapons for Germany to take it over at some stage).

      • Grzegorz Kolodziej

        until they block the streets = until they do not block the streets

        Btw, the whole perception of the “intolerant eastern Europeans with their oppressive governments” and the “democratic opposition” (who does not want to recognise democratic election results) of some dumbed-down Irish readers would be turned upside down immediately after finding out that it was Jacek Hugo-Bader, a journalist of Soros co-owned “Gazeta Wyborcza” of Adam Michnik (who, in an interview for Der Spiegel, was asking Germans to intervene, lying about his parents being killed in the Holocaust – the same Michnik who named Gen. Kiszczak, a man who murdered 100 people, “a man of honour”), WHO HAD RACIALLY ABUSED A FOREIGN-BORN, DISABLED, PARTLY PARALISED BLACK MAN ON A WHEELCHAIR (Dr Bawer Aondo-Akaa): because the black man turned up on Polish nationalists march and spoiled the whole narrative of “Gazeta Wyborcza”, and the journalist was furious.

        In his article in “Gazeta Wyborcza”, Mr Hugo-Bader used words “asfalt” (means asphalt in Polish, in thix context it means “dinge”) and “bambus” (this means “bamboo” in Polish, in this context “coon”) – words that you would NEVER read in Polish right-wing newspaper.

        For doubting Thomases, I am posting a link to a photo of a page from an article about Dr Aondo-Aaka (participant of Polish Independence Marches) racially abused at the nationalists march in Warsaw by the reporter of “Gazeta Wyborcza”:

        Title of the article: “I felt discriminated by Gazeta Wyborcza”.


        I am getting very angry now when I think about the methods used by Trotskyite Mr Adam Michnik. I’ll try to calm down and fall asleep before I start hurling verbal abuse at Mr Michnik, the most hated man in Poland – who made sure there was no accounting for communist crimes, that they communist butchers were getting 10 times bigger pensions that the rest and who is constantly spreading lies about Poland the west.

        I do not know what else would set me so angry as thinking about Adam Michnik: cruelty towards cats maybe?

        In fact I am unable to fall asleep now. Compared to Adam Michnik, Mr Higgins or Hitleree Clinton only get me slightly annoyed.

        Michnik – you who are seating on your loathsome spotty shnozzly behinds, you excrement, you lousy purulent pathological liar paid by Soros.

        Feeling better now.



    CCblogging • 5 hours ago
    Hillary, Obama and all the Democrats are NWO freaks aka Globalists. The left wingnuts have been implementing the UN World Government known as UN Agenda 2030 in increments so that we Americans are kept in the dark about what is happening right under our noses. UN Agenda 2030 erases our established borders, it voids American law and it destroys our US Constitution. The Globalist UN with the cooperation of Obama and Hillary Clinton have scheduled this Fascist NWO to be FULLY IMPLEMENTED in just 14 years. The agreements that Obama has made with the UN on the climate change lie and Obama’s agreement with the UN to seize our guns is part of Obama’s, Hillary’s and the Democrat’s NWO insanity. The mass importation of Jihadist Muslims into the western world so they can cause great civil upheaval is part of the Globalist agenda. The Globalists intend to declare Martial Law to stop the very chaos that they implemented by bringing in the Islamofascists. Also, Obama’s surrender of our internet is part of this UN Fascist/Socialist plan. If the Globalists succeed and UN Agenda 2030 becomes a reality, we will lose America as a sovereign free nation. Hillary, Obama and all the Fascist Democrats could care less because their Globalist Puppet Masters like George Soros, the Rothschild’s, the Bilderberg group, the Rockefeller bankers, etc will still be in control.

  33. Truthist

    Given that “all politics is local” AND “there surely are Irish people reading this blog who are being f..ked around by the nomenklatura”, please find the following very useful info ;
    I recommend to persons afflicted by this front of the nomenklatura to print & enlargen to A3 size at least, & then to laminate or encase in glass within picture frame.

  34. This is the latest.
    CIA false flag operation.
    False news carried by MSM.
    AIM. Declare election invalid and thwart Trump.

    I am surprised the PTB allowed the election process to get this far. I suspected efforts to invalidate the election would take place. Insurrection is likely to follow: Then by Martial law.
    I hope this is not correct.

  35. Truthist

    How to say that the Banksters are responsible for this ?
    Daily Mail, 11 December 2016
    Children as young as seven are to be taught in schools to stop using the terms ‘boys’ and ‘girls’ – in case they discriminate against transgender pupils.

    A guidebook for teachers, parents and pupils to be sent to schools around Britain advises against using language that suggests there are only two genders.

    The book – Can I Tell You About Gender Diversity? – also features the use of hormone blockers by a fictional 12-year-old ‘transitioning’ from female to male in order to stop the onset of puberty. The treatment is controversially available to children on the NHS, as first revealed by The Mail on Sunday.

    Billed by the publishers as ‘the first book to explain medical transitioning for children aged seven and above’, it is distributed by Educate & Celebrate, a Government-funded body that goes into primary and secondary schools to give lessons on ‘gender diversity’.

    The book follows Kit, a 12-year-old who is transitioning from female to male, and features illustrations that may appeal to young readers, including one of a ‘gender-neutral’ unicorn whose genitals are masked with a star. A key passage from the book advises that the use of ‘boys’ and ‘girls’ excludes transgender children – and reinforces the idea that there are behavioural differences between the sexes.
    Educate & Celebrate

    Supported by the Department for Education

    Department for Education

    Robert Halfon MP [former Deputy Chairman of the Conservative Party]

    Justine Greening MP, Secretary of State for Education

    Nick Gibb MP, Minister of State for School Standards

    Minister of State for Universities] Jo Johnson MP [brother of Boris Johnson]

    Edward Timpson MP
    Caroline Dinenage MP
    Lord Nash

  36. Truthist

    @ Grzegorz,

    I discussing with a Polish expat the “German” sic. ? control of media in Poland — And, this topic was raised by him as sub-set of the topic “blaming the indigenous Poles for the ‘Holocaust” [ also raised by him as relevant to life today for Poles everywhere because he says the Polish people were the majority beaten to a pulp then, & now they are being beaten to a pulp with verbal abuse & spittal & vandalism for starters in Poland whilst the perpetrators are crying for mercy ], I put it to him that the German sic. ? media that he is upset with may actually be owned by non-native “German[s]“.
    He smiled, & then said that this theory is very worthy of enquiry.
    I trust that u have no trouble understanding me 8-)
    And, I salute u on exposing in detail certain “not safe” issues :
    ur local Irish State issue of the corrupt C.I.E. organisation [ With particular focus by u on C.I.E.'s Dublin Bus ; Although, upon my recent viewing* of C.I.E. monthly "discount" sic. Cork City area ticket which includes Midleton, Co. Cork-Cork C.I.E.'s Iarnroid Eireann train ( Same but different to C.I.E.'s DART 8-) ) + C.I.E.'s Bus Eireann, I notice that the cost to customer is even more than appalling Dublin Bus "discount" sic monthly ticket. ].
    ur local Poland issue of :
    corrupt media in Poland
    particular corrupt politicians in Poland
    particular corrupt civil servants in Poland
    inter alia
    Granted, we both do expose the “very relatively safe” issues of “sound money” & the opposition to this from the Banksters with their “private central banking” syndicate, & their “fractional reserve banking” scam ;
    But, we do stick our necks out to question & reveal the truth about “unsafe” issues.
    Moral Courage + Interity is very much needed by Irish nation now.
    C.I.E.’s Dublin Bus
    Example from C.I.E.’s Bus Eireann WITH C.I.E.’s Iarnroid Eireann

    • Grzegorz Kolodziej

      “the German sic. ? media that he is upset with may actually be owned by non-native “German[s]“”

      Actually German media are, mostly, owned by native Germans – no foreign capital is allowed and no other country in Europe applies so much censorship as the German media.


      For decades, the Jewish lobby Holocaust industry has been working in full cooperation with the German policy of whitewashing their WWII crimes (they never paid any war reparations to Poland) while blaming other nations.

      • Truthist

        Surely the holocaust industry has not been whitewashing what the Germans did to the Jews I rhetorically ask ?
        But, I would agree with u if u are saying that the holocaust industry is whitewashing what was done to the g..yin by the Nazis & the Bolsheviiks ;
        The Bolsheviks slaughtered Poland’s officers at Katyan Forest & contrived to have the Nazis blamed for it.
        Wikipedia — probably compromised against the truth on this issue — is claiming 8,000 Polish officers were massacred.
        Here is result for search terms ;
        Katyan Forest Massacre
        Excerpt from
        This article is about the 1940 massacre of Poles, including Polish officers. For the 1943 massacre of Belarusian civilians, see Khatyn massacre.
        A memorial consisting of three crosses standing on a large brick pedestal. Each cross bears a name – Katyn, Kharkiv, or Mednoye.
        Katyn-Kharkiv-Mednoye memorial in ?wi?tokrzyskie Mountains, Poland
        Map of the sites related to the Katyn massacre
        Map of the sites related to the Katyn massacre
        The Katyn massacre (Polish: zbrodnia katy?ska, mord katy?ski, “Katy? crime”; Russian: ????????? ???????? Katynskij rasstrel, “Katyn shooting”) was a series of mass executions of Polish nationals carried out by the NKVD (“People’s Commissariat for Internal Affairs”, a Soviet secret police organisation) in April and May 1940. Though the killings took place at several different locations, the massacre is named after the Katyn Forest, where some of the mass graves were first discovered.
        The massacre was prompted by NKVD chief Lavrentiy Beria’s proposal to execute all captive members of the Polish officer corps, dated 5 March 1940, approved by the Politburo of the Communist Party of the Soviet Union, including its leader, Joseph Stalin. The number of victims is estimated at about 22,000.[1] The victims were executed in the Katyn Forest in Russia, the Kalinin and Kharkiv prisons, and elsewhere. Of the total killed, about 8,000 were officers imprisoned during the 1939 Soviet invasion of Poland, another 6,000 were police officers, and the rest were arrested Polish intelligentsia that the Soviets deemed to be “intelligence agents, gendarmes, landowners, saboteurs, factory owners, lawyers, officials, and priests”.[1]
        The government of Nazi Germany announced the discovery of mass graves in the Katyn Forest in 1943. When the London-based Polish government-in-exile asked for an investigation by the International Committee of the Red Cross, Stalin immediately severed diplomatic relations with it. The USSR claimed that the victims had been murdered by the Nazis in 1941 and continued to deny responsibility for the massacres until 1990, when it officially acknowledged and condemned the perpetration of the killings by the NKVD, as well as the subsequent cover-up by the Soviet government.[1][2][3][a]
        An investigation conducted by the office of the Prosecutors General of the Soviet Union (1990–1991) and the Russian Federation (1991–2004) confirmed Soviet responsibility for the massacres but refused to classify this action as a war crime or an act of genocide. The investigation was closed on the grounds that the perpetrators of the atrocity were already dead, and since the Russian government would not classify the dead as victims of the Great Purge, formal posthumous rehabilitation was deemed inapplicable.[4]
        In November 2010, the Russian State Duma approved a declaration blaming Stalin and other Soviet officials for having personally ordered the massacre.[5]

        • Grzegorz Kolodziej

          “Surely the holocaust industry has not been whitewashing what the Germans did to the Jews I rhetorically ask ?”

          I can see that you have not been watching the German media for the last 20 years…

          This is exactly what the Holocaust Industry has been doing – since Gerhard Schroeder said that Germany has paid enough to Israel and put a stop on the Vergangeheitsbewaeltigung policy (which was never that much bewaeltigung in first place, since in Sylt they had chosen to Landtag and as a mayor Heinz Reinefahrt, an SS-man who, in one giant 3 day murdering spree, murdered 80,000 defenceless women and children in the Warsaw district of Wola).

          I gave too many examples thereof to repeat myself, besides I am busy today.

          Just if you look at the German series Unsere Muetter, unsere Vaeter, Germans are portrayed there as neutral towards the Jews (with one SS-man helping them – buahahaha), while the real antisemites are the Poles from the Home Army underground.

          This series was joyfully purchased by BBC.

          Also, more Poles dies in German concentration camps than Jews (Auschwitz for example was for most of its history a purely camp for Poles) – yet you would never hear that in Germany, England or in Ireland: in Ireland and England because the level of teaching history is so bad, in Germany though it’s done on purpose.

          but that’s not all – German TV regularly shows pictures of Poles going to concentration and death camps as expelled Germans.

          And they promote fiction writers like Tomasz Gross as historians (I mean complete fiction – Gross presents ZERO documents in his books), who was invited here to TCD and applauded.

          Why is that?

          Since Germany said that will pay to Israel no more, they both came with an idea to cooperate in blackmailing other nations into paying them racket.
          Gain for Israel and the Jewish lobby = more money extracted or stolen
          Gain for Germany = no more talk of German guilt, weak Poland, bad opinion on their eastern rival, possibility to blackmail, triggering guilt complex in the Poles to make them cheap, good, obliging workers and consumers.

          P.S. A serious read (free 61 pages book in PdF) on the Holocaust of the Poles in USRR before WWII (Katyn was only a tip of the iceberg):

          • Truthist

            Well noted Grzegorz.
            And, much appreciated.
            I say this ahead of reading the link u gave above ;
            Link gets archived swiftly & read as soon as possible.
            But, read in very near future it will be.
            Thanks also for redacting & extracting from sources & the practise of choicest brevity in the giving of links.
            Same as u, I wish to get practical with solutions.
            Hence time & energy is precious.
            Already I am feeling as u reported Re ; urself to Tony Brogan.
            I am interested in forming my own blog with discussion facility.
            I have no training nor even education in website designing & set-up & coding.
            Also, I must avoid spending much energy & $’s on anything other than basic needs presently.
            Methinks that David’s blog format is a poor one.
            Perhaps the forum format is :
            better ?
            available for me for free ?
            By the way, I tried to join that forum ;
            But, some days already no reply.
            I suggest that after a optimum spell of time that it would be better to resume with replies in very early phase of subsequent article[s] discussion.
            Reasons :
            I have refrained from setting up auto alerts of new posts
            Other posters, & passive readers too, will be able more to find such replies.

  37. Truthist

    Gen. Mattis:
    Can Trump Leash His Pentagon ‘Mad Dog’?
    President-elect Trump’s choice of Gen. James Mattis to be Defense Secretary has raised more than a few eyebrows.
    Not only as a military officer in a traditionally civilian position, but also as an executive at a leading defense contractor.
    His views on Iran are also considered extreme and not grounded in reality.
    Will the mad dog be leashed ?

  38. [...] Unfortunately for the EU, if Greece was a tricky issue to deal with, Italy is — in economic terms — a massive Greece …”  See article here [...]

  39. [...] Unfortunately for the EU, if Greece was a tricky issue to deal with, Italy is — in economic terms — a massive Greece …”  See article here [...]

  40. [...] Unfortunately for the EU, if Greece was a tricky issue to deal with, Italy is — in economic terms — a massive Greece …”  See article here [...]

  41. [...] Unfortunately for the EU, if Greece was a tricky issue to deal with, Italy is — in economic terms — a massive Greece …”  See article here [...]

  42. [...] Unfortunately for the EU, if Greece was a tricky issue to deal with, Italy is — in economic terms — a massive Greece …” See article here [...]

  43. [...] Unfortunately for the EU, if Greece was a tricky issue to deal with, Italy is — in economic terms — a massive Greece …”  See article here [...]

  44. [...] Unfortunately for the EU, if Greece was a tricky issue to deal with, Italy is — in economic terms — a massive Greece …”  See article here [...]

  45. [...] Unfortunately for the EU, if Greece was a tricky issue to deal with, Italy is – in economic terms – a massive Greece …”  See article here [...]

  46. [...] Unfortunately for the EU, if Greece was a tricky issue to deal with, Italy is — in economic terms — a massive Greece …”  See article here [...]

  47. [...] Unfortunately for the EU, if Greece was a tricky issue to deal with, Italy is — in economic terms — a massive Greece …”  See article here [...]

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