Reggie Middleton warns about Irish banks

[pmbug]

Here come's the next bank surprise. This bank, which is still trading in the US/Ireland and is still accepting deposits and making loans, appears to have some pretty fishy underpinnings. ...

...

AIB has inccurred significant debt from which the underlying collateral has significantly diminished. This caused the need for even more capital and more borrowing. It also apparently caused it to change the wording in its annual statements regarding repos, potentially allowing it to conceal financial aid in the form of even more debt from another party. After all, when you borrow something it's a loan right, as in additional debt??? Below, you see a loophole for near unimited borrowing, and not a peep will show up in the financial reporting!
...

More: http://boombustblog.com/blog/item/9...?-when-a-single-words-worth-billions-of-euros

He's essentially saying that AIB is likely to follow the Cyprus plan in the near future. Caveat emptor depositors/customers.

 

[bushi]

LOL @ bailouts, and "rescuing the banking system" by the governments! Here in Ireland, AIB was considered sound bank, a "good citizen"; the people's (and not greedy & reckless developers') bank. They did not have significant risks back in 2008 when SHTF here, as far as I know/remember.

Good thing, that I don't have any cash worth speaking of, sitting in my account (it is in AIB, BTW ).

 

[pmbug]

FYI - RM called Lehman Bros & Bear Sterns collapses correctly.

 

[bushi]

yeah, I know that very well PMBug, Reggie is one of the guys, whose financial advice I'd follow first, and ask the questions later. What I meant in my post, I assume Reggie is correct (again), and the whole "rescuing the banking system" by the Irish govt, in tandem (quaddem ) with the Troika, is, as expected, a big pile of :doodoo:

 

[pmbug]

Reggie has been digging deeper and deeper...

Entering my third week of publicizing my research into what I see as the potential collapse of the Irish banking system, it is about time to bring the series to a close. Before I do, though, there are a couple of loose ends that need tightening up. ...

http://boombustblog.com/blog/item/9...stem-has-not-yet-succeeded-not-by-a-long-shot

 

[bushi]

...you'd say, people in Ireland, should be EXTREMELY interested in what the man has to say, nah? Would be discussing and dissecting these articles, from every angle, and rising questions and demanding answers from the banks/authorities around here, no? That main financial discussion board, will be ablaze, and bringing new facts to the table, no?

.

..

...


answer: no. They are just dismissing it, as "sensationalist" - therefore, unworthy even considering.

ah, well...

 

[pmbug]

The ECB has gagged the Government from releasing any information in relation to the liquidation of the former Anglo Irish bank, IBRC.

A senior official in the Department of Finance told the Irish Examiner they were under strict instructions from the ECB not to release any details to the public.

“What they [ECB] have said from an early stage is that if there is any release, at all, then all negotiations are off. They do not want to discuss this in any forum, other than that of a member state and the ECB council,” he said.

The department has received about 16 freedom of information requests in relation to the IBRC liquidation and is now considering adopting a policy position that would allow it to refuse all applications for the release of information.
...

http://www.irishexaminer.com/ireland/ecb-gags-state-on-ibrc-liquidation-229051.html

 

[ancona]

Welcome to the new paradigm boys and girls. Your money are now belong to us......all of it fuckers. anyone raising their voice over this, or for that matter, expressing any negative sentiments whatsoever in any form and on or in any media, will be tried as a terrorist enemy of the state.

Coming soon to the shores of the good 'ol US of A. don't think for a minute that the Dark Princes do not have your life savings in their headlights folks, because a close look at every single bank charter, and that includes credit unions as well, will reveal exactly what they have been whispering about for the last eight weeks: the money you thought you had in nice, safe demand deposits is not really yours, it is a fucking loan to the bank.

Sleep tight on that info people.

Got PM's??

 

[DSAbug]

bye bye Irish pensions..

http://www.zerohedge.com/contribute...-theres-much-more-cyprusing?utm_source=feedly

 

[ancona]

Soon enough these banksters will start to be mysteriously killed......one by one, and the questions will be asked and theories expounded upon. In the end, it will be decided that it's best not to fuck with depositors cash after all.

How these bacteria parading as people are able to look themselves in the mirror each day mystifies me.

 

[dontdeBasemebro]