David Malone: “Irish Central Bank conjuring euros out of thin air”


From David Malone‘s (“The Debt Generation“) blog, Golem XIVEuro downgrades and looting:

Over the last few months, it turns out, ECB bail outs and loans just have not been enough for either Greece or Ireland.  Not surprising in the case of Ireland where every time anyone moves, they trip over another can of undeclared bad debts. But not to worry, Ireland and Greece have been printing up new debts for their people to pay off, in the form of inky, stinky Euro bonds at a frightening pace.  70 billion so far and likely to rise to 100 billion.  This means that though the ECB disdains actual printing, or so they say, it has been forced to do so because the Irish and Greek central banks are doing a bang-up job of conjuring Euro debt out of thin air…

Seems to me we have Greece and Ireland drowning and printing up debt in a last ditch attempt to make sure no one in the countries survives to tell the tale. The Danes decided they were NOT going to suffer the same fate and had a word with their bond holders. That frightened the hell out of the bond holders.

Read more.

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This entry was posted in Accountability, Bankers' Bailout, Budget, Debt Default/Restructuring, ECB/IMF, Economy, EU, Euro / Sovereign Money, ireland and tagged , , , , , . Bookmark the permalink.

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