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offsite link North Korea Increases Aid to Russia, Mos... Tue Nov 19, 2024 12:29 | Marko Marjanovi?

offsite link Trump Assembles a War Cabinet Sat Nov 16, 2024 10:29 | Marko Marjanovi?

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The Saker

Indymedia ireland

Indymedia Ireland is a volunteer-run non-commercial open publishing website for local and international news, opinion & analysis, press releases and events. Its main objective is to enable the public to participate in reporting and analysis of the news and other important events and aspects of our daily lives and thereby give a voice to people.

offsite link Army Sergeant Travis Decker Murdered His Three Children After Being Denied Mental Health Care at JBL... Sat Jun 07, 2025 04:52 | JBLM Whistleblowers
A corrupt military police force and incompetent Commander who denied emergency mental health care and crisis counseling to an American service member resulted in the murder of the sergeant's three young daughters

offsite link Gaza doctor grieves her nine children killed in Israeli strike Sun May 25, 2025 20:00 | imc
Israeli regime continues it's slaughter
'The children were completely charred'

Paediatrician Alaa al-Najjar was treating victims of Israeli attacks when her children were killed by an Israeli strike on their home

offsite link British doctors working in Gaza describe territory as a ?slaughterhouse? Sat May 24, 2025 00:23 | imc
There?s no food getting in so people are starving,? surgeon Tom Potokar says
British doctors working in Gaza have described the territory as a ?slaughterhouse,? where the patients they are treating are severely malnourished.

Plastic surgeons and orthopedic specialists from the UK are based at the Amal and Nasser hospitals in Khan Younis in the south of the territory.

Dr. Tom Potokar, a plastic surgeon specializing in burn injuries, has worked in Gaza 16 times but said this mission had revealed a level of destruction far greater than his last visit in 2023,

offsite link It is time to talk about the Out of Control Immigration. Mon Mar 31, 2025 22:12 | imc
For the last few years since the CV19 scamdemic undocumented immigration into Ireland has surged. No one is allowed discuss it because they do not want any rational debate about it. If you do you are labelled an extremist. However this out of control immigration is fully facilitated by the Irish government and the EU and the shady figure behind the Neo Con movement pushing for endless war, wokeism and globalist agenda.

offsite link [Dublin] National Demonstration for Palestine: End Israeli Apartheid & Genocide Thu Mar 06, 2025 22:35 | ipsc
Sat, 22 March 2025, 13:00 Assemble at the Garden of Remembrance, Parnell Square, Dublin 1
The Ireland-Palestine Solidarity Campaign, supported by over 150 Irish civil society organisations, has called another National Demonstration for Palestine on Saturday 22nd March.

The march will begin at the Garden of Remembrance at 1pm and finish outside the D?il on Molesworth Street/Kildare Street to bring our demands to the Irish government?s doorstep.

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Lockdown Skeptics

The Daily Sceptic

offsite link Corbyn?s New Party Split Over Trans Policy Mon Sep 01, 2025 15:20 | Will Jones
Jeremy Corbyn and Zarah Sultana?s new 'fruit and nut' party is already split over its policy on transgender issues as the People's Front of Gaza continues to go full Python.
The post Corbyn’s New Party Split Over Trans Policy appeared first on The Daily Sceptic.

offsite link Introducing Vexillophobia: Fear of the Flag is Britain?s Greatest Madness Mon Sep 01, 2025 13:18 | Laura Dodsworth
Introducing vexillophobia: fear of the flag is Britain's greatest madness, says Laura Dodsworth. There's only one thing for it: exposure. As with any phobia, it's the surest cure. Let the beautiful colours fly!
The post Introducing Vexillophobia: Fear of the Flag is Britain’s Greatest Madness appeared first on The Daily Sceptic.

offsite link Labour MP Calls People Hanging St George?s Flags ?Extremists? Mon Sep 01, 2025 11:09 | Will Jones
Labour MP Clive Lewis has said people flying the?St?George?s Cross?outside a migrant hotel in his constituency are "extremists" trying to "mark territory".
The post Labour MP Calls People Hanging St George’s Flags “Extremists” appeared first on The Daily Sceptic.

offsite link Sixty Years of Temperature Averages Declared at UK Met Office Station With Only EIGHT YEARS of Actua... Mon Sep 01, 2025 09:00 | Chris Morrison
Decades of 'historic' Met Office temperature records turn out to be stitched together from missing, moved or simply invented data, reveals the Daily Sceptic's Environment Editor.
The post Sixty Years of Temperature Averages Declared at UK Met Office Station With Only EIGHT YEARS of Actual Observations appeared first on The Daily Sceptic.

offsite link ?Stop Trump? isn?t a Grass Roots Campaign, But Another Left-Wing Cause Linked to a Well-Funded Umbre... Mon Sep 01, 2025 07:00 | Charlotte Gill
'Stop Trump' is far from a scrappy protest group; it's a well-funded engine of the radical Left rooted in the activist hub Pelican House, says Charlotte Gill.
The post ?Stop Trump? isn?t a Grass Roots Campaign, But Another Left-Wing Cause Linked to a Well-Funded Umbrella Group in Bethnal Green appeared first on The Daily Sceptic.

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Voltaire Network
Voltaire, international edition

offsite link Will intergovernmental institutions withstand the end of the "American Empire"?,... Sat Apr 05, 2025 07:15 | en

offsite link Voltaire, International Newsletter N?127 Sat Apr 05, 2025 06:38 | en

offsite link Disintegration of Western democracy begins in France Sat Apr 05, 2025 06:00 | en

offsite link Voltaire, International Newsletter N?126 Fri Mar 28, 2025 11:39 | en

offsite link The International Conference on Combating Anti-Semitism by Amichai Chikli and Na... Fri Mar 28, 2025 11:31 | en

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Media Fuss over €280 Million While Completely Silent on €28 Billion Plus Interest

category national | anti-capitalism | other press author Friday December 05, 2014 19:33author by irate Report this post to the editors

I'm reproducing this post here because I think it needs wider circulation. I hope the original poster will forgive my boldness but It is an important message that should get out to the widest possible audience.

Basically, under instruction from the EU, we will be giving private investors the interest on 28 billion of bank debt instead of paying it back to the Irish central bank as is currently the case, all with barely a murmur from the Irish media. Meanwhile the distraction storm rages on over a piddling 280 million which MIGHT be repaid to junior bond holders some of which MAY actually be local credit unions etc who are very beneficial to our economy.

Furthermore If interest rates rise in the future we WILL be crucified by huge wasted interest repayments to greedy vulture capitalists.
Meanwhile the media have us pissing and moaning over a hypothetical 280 million which MIGHT be repaid mainly to the likes of our own credit unions which will be peanuts compared to these other interest payments most likely going to foreign vulture capitalists

€280m v €28,000m - THE MEDIA OMERTA

It’s baffling, truly baffling.

Today our media discusses the outrage over the possible (and this is still not locked in) payment of €280m to junior bondholders in the two wound-up banks – Anglo and Irish Nationwide – that were combined to form IBRC.

Meanwhile, there is absolute silence from the same media on the scheduled definite destruction over the coming years of €28bn, legacy debt from the same two banks.

That destruction begins in 2014, continues until 2032; under the schedule, €28bn in sovereign bonds that replaced the old Promissory Notes (remember Noonan’s widely hailed ‘deal’ of February 2013?) will be sold by the Central Bank, then those borrowed billions destroyed, every cent – that’s 100 times the amount causing so much outrage at the moment.

The destruction of those billions is only half the story, however; immediately each of those bonds is sold and the money thus raised destroyed, for the full lifetime of each of those bonds we pay interest to the new bondholder (rubbing salt in the wound, perhaps it will even be one of those same bondholders bailed out by us in the first place).

In 2038 the bonds start ‘maturing’, meaning the new bondholders – thanking us I'm sure for the interest we’ve paid – now come looking for the principal back.

In 2053 we have the scheduled final payment, €5bn – if we can afford it even then. The possibility exists that we won’t, that the debt will be rolled over, meaning we’re not just debt-slaves for the next 40 years, but that this could go on into perpetuity. And for what? To bail out back in 2010 the failed European big-bank bondholders and creditors of two bust Irish banks.

How much will it all eventually cost? The €28bn in sovereign bonds now about to be sold and destroyed is in the ha’penny place – between interest and principal over the next 40 years, that €28bn, along with the €3bn paid in 2011, is going to cost us at least €80bn, an average of over €2bn/yr. And that in itself is less than half the full story of the Irish bank bailout (the full figure is €69.7bn)!

I suppose when you read it like that, written down in black-and-white, the fact our media is absolutely silent on it is understandable. If the people are reacting as they are now to the water-charge attempted robbery, how would they react if they were fully aware of this?

Regards,
Diarmuid O'Flynn.

Originally posted here at the chattering magpie:
http://thechatteringmagpie14.blogspot.ie/


A SCREEN GRAB OF MINISTER NOONAN'S PARLIAMENTERY QUESTION REPLY
TO PEARSE DOHERTY (SINN FEIN) IN EARLY 2013

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