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


YouKnowWhatIMeanLike

Well-known member
Joined
Apr 13, 2011
Messages
7,224
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 UK’s 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?
 

clearmurk

Well-known member
Joined
Apr 27, 2012
Messages
3,019
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?
 
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YouKnowWhatIMeanLike

Well-known member
Joined
Apr 13, 2011
Messages
7,224
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.
 
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Mad as Fish

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Joined
Dec 6, 2012
Messages
24,449
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.
 

wombat

Well-known member
Joined
Jun 16, 2007
Messages
31,960
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?
 

YouKnowWhatIMeanLike

Well-known member
Joined
Apr 13, 2011
Messages
7,224
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.

 
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S

Science Ninja

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 UK’s 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.
 

ManUnited

Well-known member
Joined
Nov 16, 2009
Messages
5,221
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/finances/docs/committees/reform/20120912-com-2012-510_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
 

Bonsai Experiment

Well-known member
Joined
Jun 17, 2010
Messages
14,042
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
 

frequency

Well-known member
Joined
Sep 9, 2005
Messages
943
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?

It's the private sector. No cushy pensions, secure tenure or massive salaries. If your business goes broke you lose your job. Cut throat capitalism, and thank god they're doing such a good job, the wealth creators.
 

Ribeye

Well-known member
Joined
Jul 12, 2011
Messages
26,306
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.
Some of us like munching yummy grass,

 

james5001

Well-known member
Joined
Oct 27, 2009
Messages
11,503
It's the private sector. No cushy pensions, secure tenure or massive salaries. If your business goes broke you lose your job. Cut throat capitalism, and thank god they're doing such a good job, the wealth creators.
Very good sarcasm!
 

clearmurk

Well-known member
Joined
Apr 27, 2012
Messages
3,019
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/finances/docs/committees/reform/20120912-com-2012-510_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
As far as I can see on a quick read, only the Single Supervisory mechanism is underway. The rest is in the category "the Commission envisages to propose.....".
 

Hewson

Well-known member
Joined
Apr 29, 2009
Messages
8,338
Because the Germans have not had a problem yet?
I've long been convinced that the best way to give a description of hunger is to stop eating for a week.
 
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