Follow @PoliticsIE
 
 
 
Page 1 of 4 1234 LastLast
Results 1 to 10 of 39

Thread: Monetary Financing - Now Since Ireland Let The Genie Out Of The Bottle Let Rip

  1. #1

    Default Monetary Financing - Now Since Ireland Let The Genie Out Of The Bottle Let Rip

    Hugo Dixon looks at the recent promissory note deal for Ireland and raises a number of fundamental questions. The deal is almost like a partial write off and there is no need for for further belt tightening when it comes to the toxic Anglo Irish Bank debt.

    Monetary financing is looked at as a problem but it may really be the solution to all our debt problems as proclaimed by Adair Turner the chairman of the UKs Financial Services Authority. So why not print money like the Irish Central bank did with Anglo Irish Bank all the time? If the German Bundesbank is daft enough to pay down its debt they don't have to join the money printing party Is the Bundesbank really mad?

  2. #2
    Politics.ie Member clearmurk's Avatar
    Join Date
    Apr 2012
    Posts
    2,927
    Mentioned
    0 Post(s)

    Default

    Why has nothing been done to ensure that if banks get into trouble again, that they can bail themselves out?

    Why have banks not been required to obtain insurance against their own failure?

    Why have banks not been required to restructure so that they are not too big to fail, systemic or otherwise?

    Why is nothing changing?
    Last edited by clearmurk; 19th February 2013 at 10:16 PM. Reason: the mysterious duplicate word, incorrect word

  3. #3

    Default

    Quote Originally Posted by clearmurk View Post
    Why has nothing been done to ensure that if banks get into trouble again, that they can bail themselves out?

    Why have banks not been required to obtain insurance against their own failure?

    Why have banks not been required to restructure so that they are not too big to fail, systemic or otherwise?

    Why is nothing changing?
    Why?

    No banker has been held accountable yet, instead they walked away scot-free with huge bonuses. No politician has been held accountable yet instead they sailed into the sunset with huge pension packages and lump sums. No financial regulator has been held accountable yet instead they all pulled a bertie and off to the next executive job in the financial industry.

    Why? Obviously someone benefits from this scam and prefers to keep the things the way they are.
    Last edited by YouKnowWhatIMeanLike; 2nd March 2013 at 10:55 AM.

  4. #4
    Politics.ie Member
    Join Date
    Dec 2012
    Location
    Not Dublin
    Posts
    24,431
    Mentioned
    0 Post(s)

    Default

    Quote Originally Posted by YouKnowWhatIMeanLike View Post
    Why?

    No banker has been held accountable yet, instead they walked away scott free with huge bonuses. No politician has been held accountable yet instead they sailed into the sunset with huge pension packages and lump sums. No financial regulator has been held accountable yet instead they all pulled a bertie and off to the next executive job in the financial industry.

    Why? Obviously someone benefits from this scam and prefers to keep the things the way they are.
    And then they are kind enough to have their whores come on here and tell us we don't know hardship until we fill our bellies with grass.
    Once your ability to function within society depends on a government controlled ID card then you are no longer a free citizen.

  5. #5
    Politics.ie Member dresden8's Avatar
    Join Date
    Feb 2009
    Posts
    14,657
    Mentioned
    0 Post(s)

    Default

    Quote Originally Posted by Mad as Fish View Post
    And then they are kind enough to have their whores come on here and tell us we don't know hardship until we fill our bellies with grass.
    The most apt statement of the crash.

  6. #6
    Politics.ie Member wombat's Avatar
    Join Date
    Jun 2007
    Posts
    31,220
    Mentioned
    2 Post(s)

    Default

    Quote Originally Posted by clearmurk View Post
    Why has nothing been done to ensure that if banks get into trouble again, that they can bail themselves out?

    Why have banks not been required to obtain insurance against their own failure?

    Why have banks not been required to restructure so that they are not too big to fail, systemic or otherwise?

    Why is nothing changing?
    Because the Germans have not had a problem yet?

  7. #7

    Default

    Quote Originally Posted by wombat View Post
    Because the Germans have not had a problem yet?
    I don't think they have a choice in the matter, there is no chance they can insulate themselves 100% in a common currency union. whoever starts an inflation avalanche will inevitably pull down the rest of the party.

    Last edited by YouKnowWhatIMeanLike; 19th February 2013 at 10:57 PM.

  8. #8
    Science Ninja
    Guest

    Default

    Quote Originally Posted by YouKnowWhatIMeanLike View Post
    Hugo Dixon looks at the recent promissory note deal for Ireland and raises a number of fundamental questions. The deal is almost like a partial write off and there is no need for for further belt tightening when it comes to the toxic Anglo Irish Bank debt.

    Monetary financing is looked at as a problem but it may really be the solution to all our debt problems as proclaimed by Adair Turner the chairman of the UKs Financial Services Authority. So why not print money like the Irish Central bank did with Anglo Irish Bank all the time? If the German Bundesbank is daft enough to pay down its debt they don't have to join the money printing party Is the Bundesbank really mad?
    It just depends on which group of suckers you wish to steal from.
    Those who'll work in the future, or those who worked in the past.

  9. #9
    Politics.ie Member
    Join Date
    Nov 2009
    Posts
    5,220
    Mentioned
    0 Post(s)

    Default

    Quote Originally Posted by clearmurk View Post
    Why has nothing been done to ensure that if banks get into trouble again, that they can bail themselves out?

    Why have banks not been required to obtain insurance against their own failure?

    Why have banks not been required to restructure so that they are not too big to fail, systemic or otherwise?

    Why is nothing changing?
    Plenty going on. The European Banking Authority, the Single Supervisory Mechanism ect., in short the banking union.

    "The Commission's proposal on recovery and resolution tools for banks in crisis,
    adopted on 6 June 2012, is the last in a series of proposed measures to strengthen
    Europe's banking sector and to avoid the spill-over effects of any future financial
    crisis with negative effects on depositors and taxpayers. To ensure that financial
    stability is upheld while bank shareholders and creditors bear their full share of bank
    losses and recapitalisation costs, the Commission has proposed a common
    framework of rules and powers. This will help Member States prevent bank crises
    from emerging in the first place and, if such bank crises still emerge, to manage them
    in a more orderly and effective way. Member States would be required to establish
    an ex-ante resolution fund paid for by contributions from banks, and provision is
    made for a mandatory borrowing facility between national schemes, again subject to
    clear limits."

    http://ec.europa.eu/internal_market/...012-510_en.pdf

    EUROPA - PRESS RELEASES - Press Release - The European banking union, a precondition to financial stability and a historical step forward for European integration

    European Banking Authority - EBA - European Banking Authority - About Us

  10. #10

    Default

    Quote Originally Posted by clearmurk View Post
    Why has nothing been done to ensure that if banks get into trouble again, that they can bail themselves out?

    Why have banks not been required to obtain insurance against their own failure?

    Why have banks not been required to restructure so that they are not too big to fail, systemic or otherwise?

    Why is nothing changing?
    Because our politicians are beholden to the banks and until that changes, nothing changes, and there is no way out of the nightmare for the Irish people

Page 1 of 4 1234 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •