THOUSANDS OF OPTIONS

JOSEPH STIGLITZ is one of the the world's most famous economists .
A Nobel Laureate & widely acclaimed as one of the foremost thinkers
within his profession - he was asked in 2008 what he thought of NAMA -
Ireland's - NATIONAL ASSET MANAGEMENT AGENCY .
Without hesitation he stated -
' NAMA WAS NOTHING MORE THAN A TRANSFER OF PRIVATE DEBT
TO THE PUBLIC PURSE '
NAMA in Ireland is headed up by its Chairman Frank Daly & its CEO
Brendan McDonagh. Both men will earn huge sums for their service
to NAMA each year. NAMA IS PROJECTED to be wound up within 7-10 years .
In reality it will be in existence for at least 25 years.
-----------------http://www.nama.ie/Publications/2010/BrendanMcDonagh_PAC_18_Nov­_2010.pdf

NAMA is a section of the larger NTMA or ---
NATIONAL TREASURY MANAGEMENT AGENCY .
-------------http://www.ntma.ie/home.php
The NTMA is responsible for the daily management of
IRELAND's NATIONAL DEBT .
It refuses to include it own massive borrowings ( 65 billions )
as part of that debt - or to include the NAMA debt which
at Dec 2010 -- stands at 31Billion Euros .

Check out the map for IRELAND'S GHOSTESTATES .
-------http://ghostestates.com/main.php?g2_view=map.ShowMap

Check out the developers tab at the NAMA WINELAKE site -------------
--------http://namawinelake.wordpress.com/the-developers/

ALL IN ALL - a picture of graft & corruption on a colossal scale .
Carried out by approx 270 men , aided & abetted by Ireland's
Banking elite & supported by the cute whores of Fianna Fail .

As always - the ordinary citizens of Ireland & their children
will carry the can for decades to come .

Category:

News & Politics

Tags:

• IRELAND
• NAMA
• ANGLO IRISH BANK
• BERTIE AHERN
• IRISH BANKS
• BRIAN COWEN
• ECB
• EU
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• BILDERBERGER GROUP
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• MAX KEISER
• STACY HERBERT
• JP MORGAN
• MARY McALEESE
• FIANNA FAIL PARTY

[ronanp100]

JB,the "option to build"scheme was a tax avoidance scheme of which the dept. of finance were well aware. Provisions to close the loophole were inserted in the fiance act 2007(available online on attorney general's site).However they were never brought into effect as they required a ministerial order which was never made.See section 110.The MOF at the time was Brian Cowen.

[jbyeats]

@ronanp100

Appreciate that info . Never realised that - but in the context of FF

governance & their intimate relationship with speculators etc. -

I can understand it completely. I believe that after FF is removed from

power - a huge amount of material - which we are not aware of at present -

will be made public. Many thanks. jb

[Dollymix001]

Good morning jb, and merry xmas. good job talking about the residential/brown site options. Most people dont have a clue how sneaky this game is from its conception to its coming maturity.

[jbyeats]

@Dollymix001 Hi Dolly , You cropped in a interesting conversation last evening among a large group of people here in Dublin. Many were from the ' good & the mighty ' section of Irish society . I related how an ordinary lady I spoke with had advised people at large , to buy silver when it was at $12 US /oz - 14 months ago - now $29 US /oz.. These same people all preached to me about holding Irish Bank shares - now worthless . Priceless - to watch their faces. Merry Xmas .jb

[jbyeats]

@eirbiz

Excellent comments. A lot of truth in what you say.

Many thanks. jb

[mickoooo123]

Unemployment levels in western europe have been traditionally high for the past ten years, in around ten percent....Ours is undesirably high at the moment but it shouldn't entirely wreck the economy. We are generating over 100 billion per year after all, the economy will survive one way or another

[jbyeats]

@mickoooo123

Its 00.44 am & I have to head off to bed .

I just want to say you sound to me like a young person who has never

experienced serious societal problems. Up until 2 months ago - we had

NO PROBLEMS IN IRELAND .It was all talk-mostly lies that any problems existed.

Then suddenly our State admited it had a very serious problem .

Now we have NO SOVEREIGNTY & THE IMF & EU RUN OUR FINANCES .

Our REAL CRISIS STARTED 2 MONTHS AGO - LET'S TALK 12 MONTHS FROM NOW .

Thanks jb

[mickoooo123]

I see debt as neither benign nor evil.....it can have both positive and negative effects...If someone wants to borrow money to buy a house they cannot afford in the short term but feel secure enough in their job to do it, then why shouldnt they? All financial crisis are essentially based around debt, not having the money to pay what you owe. you could take the view that someone working to pay a mortgage is a debt slave but what are their other options? whats the alternative?

[jbyeats]

@mickoooo123

Our live register again from the CSO - tells us we have approx 465,000

people receiving some form of State benefit from a potential workforce of 2.2 Million .

That's 21% + of the workforce receiving State benefit .

You view debt as an accountant/economist would .They see it as benign /good.

I see it as a social evil . We will have to differ on that one.

OUR PRESENT CRISIS IN IRELAND IS BASED AROUND ONE THING -

& ONLY ONE THING . DEBT & MORE DEBT . Many thanks jb