Children of tomorrow
I apologize to you
On behalf of those in my time
For the things we didn’t do
We didn’t stop the tyrants
So your fate could be prevented
We watched them steal our freedom
By our silence we consented
We didn’t choose to circumvent
The doom you’ve not escaped
While the Bill of Rights was murdered
And the Constitution raped
Some of us were lazy
Others too afraid
To think about our children
The ones we have betrayed
I guess we were too busy
To be concerned or care
To try to ease the burden
Of the chains we made you wear
We could have been good shepherds
When the wolf got in the fold
But we watched the flame of freedom die instead
And left you cold

I’m sorry we were timid
My selfish generation
We left you but a remnant
Of a free and prosperous nation
I’m sorry for our actions
Like cowards we behaved
We could have left you freedom
Instead you are enslaved
Children of tomorrow
Descendants of our land
I’m sorry we allowed this
The fate you now with stand

- Anonymous

With thanks to my friends at Dear Toxic System

Reblogged from Dear Toxic System:

• 

Why complain about me not posting last week? I doubt that my post on the Pharma drugs would have shed any new light on the evil ones. We know their drugs are poisons, yet their sales and profits keep skyrocketing. Pearls to the swine. So, I held back the post and went fishing. Fishing for something more interesting to say. Yet, how incredible that the world kept on turning without me complaining about the sick ones who entrapped us into their stinking thinking!

Read more… 1,436 more words

Reblogged from Deadly Clear:

Reblogged from LeakTank:

06/11/2013

In March 2013 the events in Cyprus shock the world to hit the radar screen of world media. The bank deposits were confiscated. Some tried to make it look as an emergency measure, an exclusion from the rules that define banking activities and the functioning of market economy. But there is a solid ground to believe the confiscations are to become a routine feature of everyday life.

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and if you don’t well that’s your problem…..

Ladies & Gentlemen

Make a withdrawal

If I could offer you only one tip for the future, withdrawing all your money from Irish Banks would be it.

The long-term benefits of a zero balance Bank account has been proven by the Cypriot People, whereas the rest of my advice has no basis more reliable than my own meandering experience….

I will dispense this advice now….

Ignore the hue and cry of Politicians and Bank CEO’s, oh never mind; most of you won’t understand the lies and deceit until they have impacted you personally.

But trust me, in ten years time you’ll look back at the commentary of David McWilliams, Morgan Kelly  and Constantin Gurgdiev and recall in a way you can’t grasp how much you should have listened.

You are not as smart as you imagine.

Don’t worry about the economy; or worry, but know that worrying about the economy is about as effective as a cigarette lighter on a motorbike.

The real trouble in your life is the lying, self-serving politician who continues to blind side you with new and evermore devious was of taxing you.

Do one thing everyday to piss off the banks…

Don’t be reckless with your money, don’t put up with other people who attempt to be reckless with it either…

Don’t waste time giving out about the bank’s

Sometimes you will get them

Sometimes you won’t

The race is long and in the end the trick is to screw them completely

Remember the people who help you, forget the one’s who don’t

If you succeed in doing this, tell me how.

Keep track of politicians lies, don’t worry about the truth they tell, it will be a lie, honestly!

Don’t feel guilty if you don’t know how to sue the Bank.

The most hard done by people I know didn’t know how to sue the Banks..

Now they are all suing the Bank’s!

Be kind to the Master of the High Court, you will miss him when he is gone…..

Maybe you will sue the bank, maybe you won’t, maybe you beat them, maybe you won’t, maybe you will be struck out as frivolous, and vexatious, maybe you will dance a victory jig in the car park of the Four Courts.

Whatever you do, don’t celebrate to soon or celebrate too little…

Your choices are half chance, so are the Bank’s!

They have to win all the time, you only have to win once…

Use the Courts, use them every way you can… Don’t be afraid of them…you own them! They are the greatest tool you can have….

Do not listen to Barristers, they will only make you feel stupid…

Get to know Claire, Clare, Barry, Tom, Ben, Sean, Paul, Margaret, Johnny etc… you know who you are…

Dance, like nobody is watching…

Sing, like nobody is listening…

Stay out of the Ice Queen’s domain, Court 4

Go into the Central Bank once, but leave before you start to feel ill…

Go into the Dail once but leave before to start to feel homicidal…

Accept certain inalienable truths, the ECB is a setup, Christine LaGuarde is a man, Mario Draghi is a woman…

Respect your elders…

Don’t expect any help from the Bank’s

Maybe you are ok, maybe you don’t owe any money, but you never know when that might change…

Don’t mess with the Credit Union, or you may end up with no options…

Be careful whose advice you take, but be patient with those who supply it, the one’s who don’t charge are the one’s most likely to be pure of heart.

But trust me on the Withdrawal……..

Reblogged from The Slog. 3-D bollocks deconstruction:

We all now know that the Banks, the property market, the media and indeed our own Government all got very drunk on their own perceived success during the Celtic Tiger years, in doing so they pulled the general public into the dance by cajoling them and scaring the bejesus out of most of them, but to put this into some top-level perspective I will make a couple of brief points:

1) Irish Banks have gone from peak lending in Mortgages, of just short of €40 billion Euro in 2006 to €2.6 billion in 2012.

That’s a staggering 95% drop!

2) In the same period, another way of looking at it is through the numbers of loans drawn down, which at its peak in 2006 was 204,000, fast forward to 2012 and the figure again plummets to 15,800, again a drop in the region of 93%!

(figures from the IBF – Irish Banking Federation website)

So, does that tell the story, in clear layman’s language?

How did it happen? How did we get to be able to borrow so much money?

The answer my friends is as the song goes – “blowing in the wind”, but one element I hold out to be absolutely responsible is “SECURITISATION” which was only possible through lax, or almost non-existent Bank regulation.

For those of you who wish to understand, in as much as one can understand, Securitisation, can I recommend you watch the following short presentations at:

https://www.khanacademy.org/science/core-finance/derivative-securities/mort-backed-secs-tut/v/mortgage-backed-securities-i

this will show you part 1 of a tutorial entitled Mortgage Back Securities 1, please go on and view parts 2 & 3 also, you should then have a reasonable grasp of the process that is Securitisation.

The reason I have such an issue with Securitisation is simple, I believe it has taken too much if not all the risk, for Bank’s, out of the business of lending money, ( before I go any further, I would like to say that I understand and subscribe to the arguments and objections to the terms “lending money” and the “creation of money” but I am sticking to the mainstream terms for the unfamiliar among us).

Bank’s, once they have securitised loans no longer carry any risk, this risk has been passed on to the “Noteholder” who is nothing more than a market speculator who accepts the assumed risk which accompanies all market speculation, we have all heard the terms ” past performance is no indicator of future success” etc… so, the speculator may win or lose but, the Bank never loses, they have sold your loan at, possibly a premium, and from then on simply act in the capacity of a “Servicer”, in other words they collect your money every month and pass it on to the speculator, withholding a fee for the service, so why do the Bank’s charge such exorbitant interest when they assume no risk?

This gets even more dastardly when things go wrong, which is the case here in Ireland because, now the “speculator” is not getting his money each month, Irish people have lost their job, work for less wages and as such cannot afford to pay the monthly mortgage payment.

So, the Bank says, ” Ok just pay the interest” for a while, why do they say this? because the interest is all they have to pass on to the “speculator”, that is what he “bought” when he purchased your loan, the right to collect your interest, he gets his principal back at the end of the term or in Securitisation language, when the Note becomes due, normally a couple of years after the end of the term of the longest mortgage in the security tranche or deal, but in the meantime, he gets to collect your interest every month, do you see now! as long as you can pay the interest the Bank is ok! it’s when you can’t pay the interest even, the “speculator” starts to shout, where’s my money!

The speculator finds out you have defaulted and immediately triggers a clause in his contract with the Bank which allows him to foreclose on you! so what does the Bank do? they say to the “speculator” Ssssshhhhh stop shouting, if the other people who are paying their mortgage in Ireland find out what we have done, they may stop paying too! and the Bank then offers to buy back the Mortgage from the “speculator” at up to a 60% – 70% discount, the “speculator” weights up his options and normally takes the offer, because remember the business he is in, he speculates in the markets to make money, he is ultimately better off taking a hit getting some money and getting back into some other deal which will work better.

Hey Presto! the second stroke has been pulled by the Bank!

1) They sold your loan, maybe at a premium, so they have their money they loaned you back, straight away.

2) They have bought back your loan at a massive discount.

Let’s simplify it a bit more:

Your mortgage is 200,000,

The Bank sells it for a 10% premium so they get 220,000

The Speculator pays the premium because over the life of the loan he will make another 150,000 and his principal back.

The Market collapses and the Bank buy’s back the loan, (220,000) at a 50% discount so it pays 110,00 for it and pockets a quick 110,000k profit that you know nothing about!

Should you know?

I say absolutely, after all, none of this can happen without you, shouldn’t you profit from the benefit also? or at least only be liable for the amount the Bank is risking!

Let’s be clear here, I am not advocating that the Bank’s shouldn’t be paid, but they should only be paid what they are owed, they should be honest and observe their fiduciary duty of care to their customers, after all the Bank only exists if the public has confidence in it because that’s the very foundation of a Bank! Confidence!

So I say, having campaigned for an investigation into Securitisation for a long long time, I am absolutely delighted beyond imagination that we will see Securitisation on trial in an Irish Court in the near future.

For those who would like to view the entire High Court Judgement from last friday, please click the link below:

Freeman Judgement 31052013

The Documents mentioned in the Judgement under the terms, Central Bank Codes of Conduct are listed below:

Code Of Practice on the Transfer of Mortgages

http://www.centralbank.ie/regulation/industry-sectors/credit-institutions/Documents/Code%20of%20Practice%20on%20the%20Transfer%20of%20Mortgages.pdf

Code of Practice in Asset Securitisation

http://www.centralbank.ie/regulation/industry-sectors/credit-institutions/Documents/Asset%20Securitisation%20Notice.pdf

I will also provide the link for :

Code of Conduct for Mortgage Arrears

http://www.centralbank.ie/regulation/processes/consumer-protection-code/Documents/Code%20of%20Conduct%20on%20Mortgage%20Arrears%20%201%20January%202011.pdf

for those of you who wish to investigate further, the following is a list of SPV’s or Special Purpose Vehicles which attach to relevant Banks and are the issuer’s of the Residential Mortgage Backed Securities (RMBS) which contain your mortgage if it was securitised, (important to note that every effort was made to securitise “everything” by the Banks) which it more than likely was.

Ulster Bank & First Active – Celtic Residential Mortgage Securitisations

Bank of Ireland – Kildare Securities & Brunel Residential Mortgage Securities

KBC Bank – Pheonix Funding

Irish Nationwide – Armoin Securities

EBS – Emerald Securities

PTSB – Fastnet Securities

Start Mortgages – Lansdowne Securities

Bank of Scotland Ireland – Wolfhound Securities

AIB – AIB Mortgage Funding

Do your homework folk’s, educate yourself, nobody is going to do it for you!

Awaken

Reblogged from The Slog. 3-D bollocks deconstruction:

Professor G. Rassyknoll of the Moscow School of Random Dot-Joining has accepted a post at the European Commission in Brussels as its Head of Steam. His task will be to present regularly occurring supercharged droplets of mass deception as economic data. In particular, he will endeavour to explain the methods being employed with the best of intentions by Signor Draghi of the European Central Bank in his quest to comply with up to and including none of the codicils of the Lisbon Treaty.

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Reblogged from The Slog. 3-D bollocks deconstruction:

How the neocon hero gave business a licence to be licentious

Hero and admirer share an intimate moment

The late  Milton Friedman's most famous (nearly always misquoted) pronouncement on business was, "So the question is, do corporate executives, provided they stay within the law, have responsibilities in their business activities other than to make as much money for their stockholders as possible?

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