In 2009, UBS paid €600million to the US regulatory authorities following an investigation which showed that the bank ‘may’ have assisted wealthy Americans engage in tax evasion. By admitting that they had, the bank got a financial slap on the wrists and that was all. Before Christmas we learned that the bank had been hit with a Eur1,250million ‘fine’ in order for rigging the LIBOR interest rate over a period of years, in collusion with at least half a dozen other banks. This is the rate which affects how much you repaid on your credit card or loan account. Still, last year they paid out Eur2,800million in bonus’s to their bankster employees. [Read More]
We are not even remotely surprised when we hear of bankers, financiers or people in the financial services industry of being involved in criminal activity. What sets this apart from all other cases to date is the speed at which the chairman, chief executive officer and chief operations officer all resigned. This article examines why and what can be done to eradicate so called ‘white collar’ crime. [Read More]
In his recent article published in The Guardian newspaper, the acclaimed journalist and author Mr. Will Hutton suggests that part of the solution to the crisis would involve a situation whereby “…Central banks should inject money into their financial systems by offering to buy new bank loans made to support new investment, new innovation or new infrastructure – helped by partial government guarantees”. I fundamentally disagree with him and all the other ‘solve a debt crisis with more debt’ proponents. Here I present my own radical proposals that people need to start considering Lets start a real conversation to challenge accepted ‘wisdom’. [Read More]
I simply do not believe that Enda Kenny, who has spent the last ten years TOTALLY focused on rebuilding his party and getting it elected to Government can possibly have the mental capacity nor indeed [Read More]
The only way out now is for massive debt write off and for the peripheral regions of Europe to leave the euro zone, albeit temporarily, and introduce a common Euro2 Currency. If this were to be adopted, it would mean that the countries which become party to this new currency would have a marketplace of approximately 250,000,000 people who share this currency and it would enable the rebuilding of these countries’ economies. This economic rebuilding and consolidation would take less time and cause significantly less human hardship than the austerity plan presently being put forward by the European Union and our own government.
The fact is that if the Euro collapses German exports will be approximately 40% (Frances +30%) more expensive than they are now and this would decimate the German economy. This is the reason Germany is doing everything and anything to take total control of the European Union. [Read More]
The recent machinations by the EU to resolve the economic crisis by taking advice from bankers and financiers is akin to holding an AA meeting over a few pints in the local pub and they will have just about as much success.
However, it is obvious that the EU politicians, unelected officials and those in the financial services sector are suffering from an addiction. Their addiction to power, control, ego and personal financial gain, has destroyed the lives, hopes and aspirations of tens of millions of people Just like every other addict, the Eurocrats immediately condemn anybody who begins to suggest that it is they who may be a big part of the problem. [Read More]
So we have reached the point where the Irish government is ineffectual and powerless in relation to the running for what is supposed to be our Democratic Republic of Ireland. What’s more, the parliament in the European Union is also powerless and ineffectual in relation to the drama is unfolding in Europe. Make no mistake about it, as we approach the end game of this financial disaster our real masters are those in the financial services industry and their media and political insiders. [Read More]
I submitted this article to the Sunday Independent but they couldn’t make space for it. It was written two weeks ago.
The Irish League of Credit Unions recently released their quarterly “What’s Left?” report. It deals with how people throughout the Country are managing financially and the figures up to June are not just frightening they are a damning indictment on the failure of our Government to run OUR Country.
Just to give you an idea of just how bad the Government’s policy of protecting the banks has been for the average adult, nearly one in every two (47%) are late paying at least one bill a month, one in every three adults have between zero and seventy Euros left after paying their bills and a heartbreaking two hundred and eighty thousand people stated that their income does not even cover bills like their mortgage and electricity….. [Read More]
According to the International Monetary Fund’s latest report, practically every developed economy is in debt. So everyone is in debt to someone else which is exactly the way the financial wizards of this world want [Read More]
As we get closer to the financial and social endgame resulting from Fianna Fail and the Greens governance are country, their incompetence and lies are laid bare for all to see. Those of us who were advised to go and commit suicide by the then leader Mr. Bertie Ahern and didn’t, can see their very worst nightmares coming to fruition. We knew it was going to be bad but we could never have conceived just how bad it has become. And this is really just the start.
In a speech in 2007 Mr. Ahern promised that in a fall would reduce the gap between what we spent and what we took in taxes than revenues. He lied. Mr. Cowen, who was then the finance minister, simply went along with what ever he was advised to do by those total incompetents in the Department of Finance. The big accountancy and legal firms operating in Dublin who oversaw audits of the major banks and financial institutions, and charged millions for it, reported that everything was okay, these companies also lied. Full article on www.EamonnBlaney.com [Read More]