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Accounting Issues at AIB


Ulster-Lad

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Joined
Oct 26, 2006
Messages
10,092
According to Reggie Middleton the assets of AIB bank are being counted by both AIB and the ECB. This is wrong for obvious reasons and AIB has in turn been borrowing against these 'assets'. Middleton suspects depositors at AIB could get a haircut on par with Cyprus as a result.

[h=2]Are You About To Get Cyprus'd in Ireland? When A Single Word's Worth Billions Of Euros..[/h]
AIB has inccurred significant debt from which the underlying collateral has significantly diminished. This caused the need for even more capital and more borrowing. It also apparently caused it to change the wording in its annual statements regarding repos, potentially allowing it to conceal financial aid in the form of even more debt .from another party. After all, when you borrow something it's a loan right, as in additional debt??? Below, you see a loophole for near unimited borrowing, and not a peep will show up in the financial reporting!

It appears that AIB is stating that they have given ‘certain segregated securities’ as security to the ECB whereas the ECB actually decides which securities will be designated as ‘eligible’. The charge is in favor of the Central Bank and is over ‘all present and future liabilities whatsoever’ of AIB. This charge is a floating charge over repo agreements, aka Eligible Securities - securities that the graphic above demonstrates can go on ad nauseum and way beyond the entities prudent ability to repay, yet not appear on the balance sheet or in its regulatory reporting!!!. These securities have been purchased by the ECB through the repo agreements.


Thus, it appears as if this floating charge granted to the ECB is over assets that the ECB already owned. The floating charge was given to the ECB by AIB for emergency funding (emergency liquidity). Do you see a circular argument here? A potential Ponzi even???!!!! I warned my paying subscribers three years ago, Beware of the Potential Irish Ponzi Scheme!
Are You About To Get Cyprus'd in Ireland? When A Single Word's Worth Billions Of Euros...
 

Crazy horse 6

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Joined
Dec 15, 2011
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13,515
Only a matter of time now. FG and RTE spin department will have to put in some overtime when this breaks to control the angry depositers.
 

jmcc

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Jun 12, 2004
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42,331
If this happens then there may well be politicians and banksters deleted.
 

EUrJokingMeRight

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Sep 28, 2009
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11,840
MF global tested the waters, they was no problem. The Troika thought they'd go for it in Cyprus, again no problem.

So it seems that the EU is a place where it is OFFICIALLY ACCEPTABLE to steal retail bank deposits.

Anyway clearly Reggie is crazy. He has a different story to officialdom so he can be dismissed as another conspiracy theory nutjob.

Reggie told you to sell apple and buy google, remember..everyone called him nuts. Best tech call for a long time.

But ah shure he only got lucky that time....
 
D

Dylan2010

Only a matter of time now. FG and RTE spin department will have to put in some overtime when this breaks to control the angry depositers.
if that happens , here is how to pay your household charge. With your remaining Euros buy the biggest curry you have had in your life also buy a lined jiffy envelope. The next day fill the evnvelope on your next big trip to the loo and post into Revenue.
 
D

Dylan2010

MF global tested the waters, they was no problem. The Troika thought they'd go for it in Cyprus, again no problem.

So it seems that the EU is a place where it is OFFICIALLY ACCEPTABLE to steal retail bank deposits.

Anyway clearly Reggie is crazy. He has a different story to officialdom so he can be dismissed as another conspiracy theory nutjob.

Reggie told you to sell apple and buy google, remember..everyone called him nuts. Best tech call for a long time.

But ah shure he only got lucky that time....
I remember reading his stuff in 06 and 07 , a pity Quinn wasnt a subscriber :D
 

Ulster-Lad

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Oct 26, 2006
Messages
10,092
I remember reading his stuff in 06 and 07 , a pity Quinn wasnt a subscriber :D
He does seem to be right on most of these issues alright.
 
F

FunkyMonkey

Why am I not surprised?

Get ye ready Ireland... with over 3.5billion losses in 2012 for the two Pillar Banks and a mortgage mallet coming head-on down the tracks things may get very 'interesting'... and headachy[sic].
 

stopdoingstuff

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Feb 26, 2011
Messages
22,897
I can't wait to hear the Euroshills explain how it is actually in our best interests if we gouge our savers.
 

Maximus Cynicus

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Apr 7, 2010
Messages
1,094
I can't wait to hear the Euroshills explain how it is actually in our best interests if we gouge our savers.
Ah, now, here you know it would only be a section of savers - the serfs or plebs who are not connected & won't get the advance nod. Not the yahoos at the top of the feudal pyramid. The usual schmucks that pay for everything on this rock
 

EUrJokingMeRight

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Sep 28, 2009
Messages
11,840

EUrJokingMeRight

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Sep 28, 2009
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Timely!
 
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