irish financial crisis sos
24th November 2009


Jos,
I think some big new scandal is about to break about Anglo-Irish Bank.

I saw Brian Lenihan on TV last night and he looked like he had just seen a ghost.

He repeated a few times that people who did not pay up to Anglo would be pursued through the courts for "monies". I think some story is about to break and he is trying to prepare the public and they are really worried that the story will break before the NAMA and/or budget is completed.

Either:

1.) All the depositors have taken out all the money and they need another 10 billion to keep going and the regime don't know where to get the money.

2.)Some or most of the big Anglo loans (1 billion plus loans) have liquidated all their Irish assets and moved all their cash abroad where it can't be touched, Switzerland or somewhere and are refusing to make ANY repayments on their vast loans. Like the solicitor they have "disappeared" abroad making it almost impossible for the government to chase them. Ofcourse if this comes clear it becomes clear as to what will happen with all the NAMA loans. The NAMA individuals are moving all liquid assets abroad and planning to "disappear" also leaving the government with a load of concrete shells and fields.

3.)They have found that some of the large loans the developers have got have been "REMORTGAGED" with multiple financial institutions. They may have used multiple companies, some Channel Island Trusts, to hide the ownership of these assets, and further use the assets to get multiple loans.

If you look at the CIA Factbook , (you should check it out), Ireland is No.5 in AGGREGATE terms in Credit. (Bigger than Spain or Italy - we privately and publically owe more than Italy, a country of more than 15 times the population). Also Ireland has one of the lowest reserves of foreign currency in the world, equivqalent to a lot of African countries.

Regards, Hamro.