Next phase of the death spiral
The lunatics haven’t a clue. I compared this country to emerging market tin-pot democracies before and got criticised for it. Does anyone doubt it now? Capital flight, for fucks sake. That’s an expectation of disaster.
Does anyone have a link to where these figures can be viewed online or are they available to the public?
how do they know this?
capital adequacy reporting
So anybody with cash should move it offshore ahead of the total collapse? So is that why there will be no mortgages given out for topups or trading up for fear that the punters will just take the cash and run with it to start a new life elsewhere?
Honest to God, is anyone suprised by this?
The government should at least pretend that they give a shite about all the banking scandals.
But instead they mouth platitudes about how their hands are tied, confidentiality reasons, don’t want to jeopardize any future investigations and other assorted bullshit. Well ye’re foolin no-one lads.
I was just going to post this article. I couldn’t believe it didn’t make the front page. This should show up in the next set of monthly banking statistics from the central bank. Looks likely that Ireland will be on ECB life support. I’ll be keeping an eye on new RMBS and CMBS issues over the coming week. I’m currently keeping some deposits with Irish banks on the assumption that they can access ECB repo. This is a reasonable assumption, right?
The rest of this article is also well worth a read as it throws some light on the limited (probably useless) nature of the PWC report.
Today’s Tribune contains details of an internal Anglo report they got a hold of. Again, it’s not going to settle your belly. The main thing I took from it, is the extent to which a number of banks are cooking their balance sheets (and not just Irish ones). The Regulator comes out badly - nothing new there!
I wonder where exactly this capital is “flying” to ? A lot of mine fields out there in these treacherous waters at the minute.
Is this the start of the mad rush into the lifeboats ?
Right now I’ve got a decent sized 6 figure sum of cash savings sitting with Northern Rock.
Reading all of the above and every day I get scared of being stripped of my hard earned savings.
Any suggestions on what to do with the funds?
Its a run on the country.
German government bonds.
It’s all pinsters fault…just wait for this to be mentioned sometime soon.
I’m looking forward to it.
This issue has come up before. I think it goes like this:
- the country survives - money in NR is safe
- the Irish banks go to the wall - money in NR is safe
- the Irish government defaults - money in NR is safe
- we leave the Euro - chance money in NR is converted into new currency
- the UK gov defaults - money in NR is not safe
- everywhere defaults - no money is safe anymore.
So as far as I can see, the biggest risk with NR is if we leave the Euro. Although some people suggest that this will happen overnight, I believe that there will be a few days or hours between announcement and the bill being passed. During this time the government might be able to freeze Irish bank accounts, but I don’t think they can freeze NR. So NR is a good deal safer than Irish banks, but if you are convinced that the irish state will completely collapse, open an account in a german bank, buy gold, spend like there’s no tomorrow or (heaven forbid) buy property.
I’m going to start a spending I think. I’ll do what I can to identify a good property and get it at as good a reduction as is possible in the present market and buy myself some toys.
This issue is global and unless a good thinking little guy is able to righteously put these fuckers in jail then nothing good will come of it I think.
To be fair, there was no reason to make available to foreign IPs, the parts of the forum that were predicting “Death Spirals” and irish defaults. Investors all over the world are reading forums in order to get a locals view from the front, of whats going on in particular markets.
It’s all the Internet’s fault - TURN IT OFF!!!
Yeah, youre right. Im not worried. And Im not participating in capital flight. This isnt Argentina. Default or seizure is a ridiculous suggestion.
In fact I moved a five figure sum INTO Ireland last week from the USA. I have more confidence in the euro than the dollar.
any thoughts on credit unions o pinsters?