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Thread: Ireland needs a Currency Board

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    Politics.ie Member Oreo Livermore's Avatar
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    Default Ireland needs a Currency Board

    There is no shortage of people crying about the economic problems nowadays but there are few willing or able to offer any solutions.

    As I have said all along, to some ridicule let me add by some nasty party hacks here who will remain nameless, that the euro is toast.

    Ye can take that to the bank, the euro is finished.

    When a currency is in decline the normal trajectory is for it to lose value. The rate at which it loses value increases exponentialy. On a graph it is described as going parabolic. This phase because of mathematics has a very short timespan and it is all over. This market action can be seen in even stocks and commodities.

    However the euro is not like other currencies. It does not, as of yet have a tax base on which to feed and to give it credibility. For this reason it may not even have a parabolic stage. It may just go POOF overnight.

    Then we would have a real mad max situation in Ireland (and elsewhere)

    Who knows how many would die.

    The government needs to prepare for this.

    They need to set up a currency board. This entails taking a billion euro, lets say, and holding it in a vault. They need to print 1 billion punts in it's place. Each punt would be equal to the euro which it replaced on a one for one basis.

    The 2 notes would circulate and the people would get used to giving the punt value and would trust it.

    Secretly the government would print a greater quantity of punts and hold them securely.

    When the euro POOFs these could be rushed to the banks within hours.

    The finance minister could order prices to be fixed at the punt rate of the day before.

    After the immediate crisis has passed then the punt can be released to find it's own price range.

    The government would decide this final price as they would be the sole decider on the supply of the punt.


    It is only a matter of time before the currency crisis hits.

    If Ireland had an opposition party it would have some hope but as everyone agrees, Enda is as useless as tits on a turtle

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    How's President Ron Paul, who as you predicted easily won the Republican nomination and the presidency, keeping these days?

    Oh wait . . .

    "In [Ireland] a wife is regarded as a chattel, just as a thoroughbred mare or cow." Mr Justice Butler in the Irish courts. 'Traditional Marriage' in the 1970s.

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    That's not Ron Paul Tommy, that's Barack Obama, the man who fluffed is inauguration speech so much they made him do it again;the man whose legitimacy for the Presidency has never really been ascertained by close scrutiny of his birth certificate.

    Ron Paul is a different kettle of fish altogether.

    Here's a picture of him if you want to compare and contrast:
    politicolnews.com/.../10/ron_paul_photo_4.jpg

  4. #4

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    Quote Originally Posted by martino View Post
    That's not Ron Paul Tommy, that's Barack Obama, the man who fluffed is inauguration speech so much they made him do it again;the man whose legitimacy for the Presidency has never really been ascertained by close scrutiny of his birth certificate.

    Ron Paul is a different kettle of fish altogether.

    Here's a picture of him if you want to compare and contrast:
    politicolnews.com/.../10/ron_paul_photo_4.jpg
    You don't irony do you ?

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    Politics.ie Member Oreo Livermore's Avatar
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    Tommy.

    Are you in love with me our something?.

    I promised Dave to respect his site. So please, I know you view me as an alpha male but stop stalking and following me round like a pussycat.

    I already have a rabbit and don't need any more affection.

    You have a partner and you should work on that relationship and stop trolling.

    When marriage is legal you can invite me to the wedding

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    Quote Originally Posted by Oreo Livermore View Post
    The government.....would be the sole decider on the supply of the punt.
    Not unless they passed a law that said banks had to have a punt in the vault (or in their account at the central bank) for every punt that account holders were told they had in the bank.

    Without this the total of bank accounts can grow (or shrink) without the government issuing (or destroying) any more money. That's the situation we have now.
    Last edited by Slippers 2; 27th February 2010 at 10:14 PM.
    Bank-account-money is created and spent by banks as tickets for government issued money that they don't have. Stop banks issuing their own money.

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    Politics.ie Member Oreo Livermore's Avatar
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    Quote Originally Posted by Slippers 2 View Post
    Not unless they passed a law that said banks had to have a punt in the vault (or in their account at the central bank) for every punt that account holders were told they had in the bank.

    Without this total of bank accounts can grow without the government issuing any more money. That's the situation we have noe.

    Yes, when the dust settles make banks 100% reserve and close up and jail the fools that lost about 100 billion euro and growing each day. Instead of having honest working people pay off the losses

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    Politics.ie Member Oreo Livermore's Avatar
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    Quote Originally Posted by Oreo Livermore View Post
    There is no shortage of people crying about the economic problems nowadays but there are few willing or able to offer any solutions.

    As I have said all along, to some ridicule let me add by some nasty party hacks here who will remain nameless, that the euro is toast.

    Ye can take that to the bank, the euro is finished.

    Enda is as useless as tits on a turtle

    Needless to say, I am proven right again.

    It is now too late to have the euro in the currency board. It now at the very least would need to be a basket of dollar, yen and precious metals.

    A lot of deaths will result from what is ahead because Ireland has a treasonous leadership.


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    Now that even the party hacks, who shall remain as nameless as they are clueless, have to admit that the possibility of the euro going kaput is very real, it is time to bump this thread.

    We have seen that the then opposition have proven to be another crowd of sellouts, just as predicted.

    By now punts on par and tied to the euro could be circulating in the society but needless to say nothing has been or will be done.

    There will be some craic when this baby blows

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    Quote Originally Posted by Oreo Livermore View Post
    When a currency is in decline the normal trajectory is for it to lose value. The rate at which it loses value increases exponentialy. On a graph it is described as going parabolic. This phase because of mathematics has a very short timespan and it is all over.
    What complete gibberish.

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