Armageddon Outta Here

Ireland is ruined unless the government abandons this insane bank guarantee

Look, it’s been nice knowing you and I’ve enjoyed our little chats, but it’s time to get out of this country toute suite.


Because in less than two years, the international money markets will stop lending to our government.  When that happens, there will be no money to pay the bloated public sector they’ve been telling us about.  There will be no money to pay the teachers, but we don’t need them anyway. And there will be no money to pay the nurses, but they’re a greedy shower of fuckers.  And there will be no money to pay the firemen, but they’re just a crowd of homo strippers.  And there will be no money to pay the police, but they’re a crowd of pinko lefty insurrectionists.  And there will be no money to pay the people who run the waterworks but that’s all right because Moore McDowell will step in and take charge.  And there will be no money to maintain the roads but that’s all right too because Myles Dungan will arrrange a squad to keep the most important ones in order.   No danger of a pothole on the Stillorgan road.

There will be no money, my friends, in two years time, to pay for any public service at all.  No hospitals.  No police.  No prisons.  No graveyards.


Because our government gave a blanket guarantee to the banks. Bigger than any guarantee anywhere in the world.

What did they guarantee?  Did they guarantee the deposits of small people like you and me?  Yes they did, and fair play to them, but what did they also guarantee?

Well, you see, apart from small people like you and me, there are also huge institutions out there, and these huge institutions have huge amounts of money.

And these huge institutions sometimes invest in banks, but they know that the banks might not pay them back, and this is why they charge high interest.

These billionaires took a risk when they put their money into the banks but they needn’t have worried, because on the 30th September 2008, our government issued a blanket guarantee to all these gamblers, absolving them of their risk.

It’s true, the government said, that you took a chance.  And it’s true that you charged a high price to cover that chance, but don’t worry.  We’ll use the Irish taxpayer to cover your losses for ever more, and you can hold onto the profits.   Why should billionaires like you have to take a risk when Paddy will do it for you?

So, when you see the police being withdrawn from the streets, and when you see nurses disappearing from hospitals, and when your house is on fire and nobody comes to put it out, just remember why.

It’s because your government decided to protect billionaire gamblers instead of protecting you.

Of course, all is still not lost.  The government could still stand up and say that  the bank guarantee was issued because they believed the lies of the bankers, but now that they realise it was all lies, they can’t ask the Irish taxpayer to fund a criminal enterprise.

They can’t ask the Irish people to take the hit for the dodgy IOUs of Seanie Fitz and Fingers Fingleton.   In all conscience, they can’t do that.

Wel, in fact they can, because they don’t have a conscience.

Let me tell you this without question.  Unless the government finally discovers a backbone, there will be blood on the streets because as sure as eggs is eggs, Ireland is going the same way as Greece, and we’d better get used to it.

The tragedy is that it’s not necessary.  If this government had any gumption at all, it would fling the bankers to the wolves instead of sacrificing one, two or three Irish generations.

Fianna Fáil the Republican Party my arse.  These crooks are owned body and soul by the money men.

I’m sorry to be telling you this but it’s true and I’m afraid the spin about a revived economy is nothing but bollocks.

If the government doesn’t finally stand up and face its responsibilities by telling the gambler bondholders to get stuffed, we’re all finished.   The extraordinary thing is that the bondholders expect this.  They’re used to losing money, which is why they charge so much.  It’s a bookie shop. They expected to lose and they can’t believe their luck that a stupid Paddy government is using the stupid Paddies’ money to dig them out.

If the government doesn’t stop guaranteeing these gamblers, Ireland will cease to function as a country and that will happen in the next two years.

Take your money out of the bank, load your shotgun and lock your doors.  It won’t be funny.


It’s worse than I thought.  Communications minister Eamon Ryan is reported on the news as saying he’s confident we can get out of this predicament.  That’s it.  We’re doomed.

42 thoughts on “Armageddon Outta Here

  1. Time for a debt jubilee:

    If we accept as inevitable the collapse of the current monetary system, then the best tactic might be to borrow, borrow, borrow. Use every penny to build your infrastructure (rails over roads, wind/solar over coal/oil) and get ready for the new order.

    Might also be an idea to resurrect the national sugar production – sugar being the most caloric efficient crop per acre…beating even potatoes.

    Then: what to do with a generation of “boy racers”? Will they be able to adapt to donkey races? This correspondent thinks not.

  2. I think that if we knew who are the bond holders in anglo are it might answer a lot of questions. After all we know that the company’s of the builders and developers have gone bust.but where is all the money they made and put into their own name.
    could it be that by buying bonds no one knows who they belong to.

  3. Well Bock, this is exactly what I have being saying for the past year. But I would go further. I say..BAN THE STOCK MARKET….its all gambling, and gambling is a recognised illness or disease. So think about it, diseased greedy, immoral fuckers are running the capitalist world. And remember, if someone is winning, then someone else is loosing. And no marks for guessing, we the ordinary decent hard working tax payers are the loosers.

  4. Thanks Bock for not ignoring this – we’re all sick of the looming doom, but it remains the single most important issue facing us.

    Us taking on the private debts or crooks and gamblers means austerity like you can’t imagine. The spiral points inevitably downwards. Servicing increasingly expensive private debt equals cuts in services equals fewer jobs equals lower tax takes equals lower investment rates equals cuts in services etc. etc. Quickly you move beyond cuts to the dismantling of the services that make this country somewhat civilised.

    The geniuses at the Department of Finance and the conventional meeja are already working overtime on the undermining of Morgan Kelly’s article. Which suggests it’s almost certainly accurate, as his previous articles have proven to be.

    If the bank guarantee is renewed this autumn, it really is time to leave. There will be no future here for us and our children.

    I’d love to think we could organise a civil society movement, demanding specifically on a refusal to renew the bank guarantee, and defaulting on any NAMA-related government bonds. This would give us a chance and we could begin to get our heads up off the ground and face the future with some degree of hope.

  5. @Peter A May

    Absolutely. Those useless pricks in the IFSC and the City of London would make a bigger contribution to society cleaning out bedpans in a hospice. That does someone some good.

  6. I keep bringing it back to this, and I am starting to sound like a broken record, but just as evil, if not more so, are the tax advisors and large Dublin solicitors firms who either paved the way for this madness or are now seeing a quick buck in carrying it through. Drop by any of Leinsters wonderful golfcourses on a daily basis and you will find the Dublin Solicitor and the bank official on the first tee. If you are looking for a villan in this drama, look no further than the shadow that is Arthur Cox. This mighty fallice directs government and the indebted and throws so much litegation weight around that all the media are spineless cowards when it comes to question Cox’s position in this whole mess. Morgan Kelly has been a thorn in this puss of a government for years and again when he calls it right, pointless fuckers like Martin Manseragh try to undermine his thesis as it conflicts with their rotten little schemes. Hopefully when Brian Lenihan kicks the bucket soon, that will leave another position to fill, putting more pressure on Fianna Fail to hold
    by-elections. Fight this with every sinue of your self. Right now these fuckers are stashing their wealth off-shore, so that when the arse finally drops, these fuckers will join existing tax dodgers like Smurfit, Desmond, O’brien and JP McManus. Right now, Sean Fitzpatrick, who should have had his passport taken away, is abroad servicing his foreign accounts. This has always been a rotten country, rules by the Goodmans and the Flavins. My only hope is that when the police can’t be paid and there is no food to eat, the North county Dublin homes and the fictional area of Blackrock Co Dublin (which is between Dublin 4 and Dublin 18, go figure) will be the target of the displaced and hungry.

  7. What exactly are you hoping for Darren.. “will be the target of the displaced and hungry.” Target of what?
    Are you condoning violence?

  8. No, of course not. Sure, wasn’t all of the revolts in history accompanied by the sound of John Lennon’s ‘Imagine’ and the willing passing of bread from the greedy to the starving, less well off. We will all join hands and await Bob and Bono to hold a benefit concert for the starving Irish.

  9. Excellent idea Darren.. a concert for the starving Irish. Except you can replace starvin with disgruntled. We don’t know hunger like they do in some parts of the world. Don’t be such a drama queen. I’d prefer myself to go hungry than steal from or hurt anyone – rich or not.

    (and I’m sure there are some people who’ve made an honest enough living who happen to live in D4… money or not I just hope they’re happy. And if you’re so concerned about less well off people, ask youself how much you give to others.. be it with your time or money).

    I just think there can be reform without violence.. it’s possible in a civilised society.. Imagine that for yourself.

  10. We are doomed–there is a complete collapse just around the corner.
    But here’s a question.
    There is still a bit of time left to get some sort of survival strategy in place.
    I read recently that there was no point in even taking your money out of the bank ( if you have any ) as god knows what sort of stunt will be pulled, better to buy tins of Spam as at least you will be able to trade that when even gold is no use.
    Any real ideas, serious ones, as it’s coming and I have kids to think of.?

  11. @darren

    We have a recent example of non-violent change, in a country that has the longest democratic tradition in Europe, possibly anywhere. There are plenty more recent examples in Eastern Europe. We’re one of the most conservative countries in Europe in our sheep-like waiting for ‘de government’ to go gracefully without giving it a helpful shove in the back.

    The Icelanders got rid of a government run for the benefit of bankers by getting out on the streets with pots and pans and staying there until they resigned. No violence needed – all it takes is persistence and numbers, rather than ritual protest marches and pointless scuffling with Gardaí.

    Once FFG are gone it’s up to us to make it clear to all other parties in a subsequent election that we’re just not wearing bank guarantees and are not willing to stand by bonds issued to bail out zombie banks.

    That uniquely deluded Eamon Ryan was on talking about a ‘wind out’ of the guarantee, whatever that means. Sounds to me like they are planning to continue it with some cosmetic changes. Unforgiveable if so.

  12. @Micheal McLaughlin.

    I’d get your money out of Irish banks (that’s any Irish bank – they are all insolvent) and into ones in the European core – Germany, Holland, France, Belgium etc.

    This bunch of gangsters is quite capable of favouring bond holders before depositors, in the event of a collapse.

  13. Christ, there’s an awful lot of drama going around.. is it really that bad? Is there anyone who’s reputable in financial circles really saying take your money out of the banks? I thought there was a bank guarantee, no?
    Isn’t it for 100,000 per individual?

  14. A bank guarantee for depositors would be a good idea, but the guarantee in this country is of an entirely different nature, and it will sink the country.

  15. Bock, there is a bank guarantee for despositors as far as I know.. it’s for 100,000. It used to be 20,000. I suppose millionares have to worry about their money with only 100,000 guaranteed .. but apparently it’s “per depositor per institution.” .. so even they’ll be set if they spread it around.

    I agree we’re going down hill rapidy though.. It’s only a matter of time before the government realise this, hopefully before it’s too late.

  16. The depositors aren’t the problem. There’s a guarantee for the bondholders. That’s what will sink us.

  17. I suppose if it all goes belly up eventually.. no one will be gettin nuttin, regardless of guarantees.. :)
    Well except FF and their cronies of course. The crooks.
    I can’t understand how stupid these people are in government.. I mean it’s comical really. They can’t see beyond their own noses they’re so stupid. They’re so thick, they get turned on when you call um dirty old, rotten to the core, bad, bad, everything that’s wrong with the country, dim-witted muppets.
    Don’t get me started.. it’s Monday and I’m cranky enough already.

  18. Sure the problem of unsustainable debt caused the banks to bounce the morons in cabinet into a guarantee is with the bonds; but @FME is on the right track, I suspect, (I hope I’m proven wrong) with respect to depositors.

    The shower of bollices in government is so delusional, so unwilling to admit they made a mistake in guaranteeing bond-holders, that they will drive the system to a point of sudden collapse, and suddenly discover there’s nothing in the kitty except for their immediate circle of cronies. This is what happened in Argentina, (and don’t tell me this government is any more responsible, able or fore-sighted than your average South American one) and with no money to pay back in dollars their deposits were converted into pesos at a very unfavourable rate. Many of these deposits have still not been paid back, even now.

    Consider what is likely to happen if a peripheral country like us is forced out of the Euro due to default and has to convert deposits into Punt Nua. Can you see this crowd playing it straight?

  19. They’ll play it straight all right Pope.. just like what happened when we converted to the Euro.
    If we convert back again to an “Punt Nua”.. 100,000 of your old money will buy you a sack of spuds on offer in Lidl. And they’ll probably put Berties face on the Punt Nua notes.. would be handy for wiping your arse with I suppose.

  20. Reading this just now:
    Individual depositors should be ok..

    ‘SAVERS HAVE enjoyed a pretty easy ride for the past 18 months. Since that fateful night in September 2008 when the Government stepped in to guarantee all the deposits of Irish banks, they have been able to relax in the knowledge that their nest eggs were secure – or at least as secure as the State.’..
    As secure as the State is the crux of it though.

    The Post Office is the way to go too it seems. I’d bet that’s where all the cronies’ money is going now. 100% state guaranteed, up to 250K, 1% per year interest.. plus 40% tax free bonus.. 40%! I don’t remember the vote on that one!!

  21. What`s the cheapest flight out of here? Can we get a Social Welfare grant for a flight?

  22. If memory serves, the bank guarnantee came very fast on the heels of a polemic started by Joe Duffy, where he was accused of inciting a run on the banks. Good aul’ Joe, always in the right place at the right time.

  23. @Down and out in Ireland

    A sturdy crate, some emergency air bottles, a supply of water and dried potatoes, chemical toilet and post yourself by ordinary parcel post to the country of your choice.

  24. FME. First off, I did not say anything against Dublin 4. The stab I had was a correct one at the civil servent invented non-postal numbered address of Co Dublin that lies half an hour walk from Leeson Street. On my way home from work I walk from Dublin 2, through Dublin 4, finally into the Middlearth land of Co Dublin and then amazingly I arrive at my address of Dublin 18. Now thats what you call people power. Just like when they tried to put some of Dublin 6 into a new postal code and the snobs went ballistic. They managed to get their own postal address of dublin 6 West. When you are the right people with the right connections, anything is possible.

    Anyway, back to the cunts in charge. Your assersion that those leading this government are “thick” is way off the mark. They are so “thick” that when this finally all falls apart, each one of them will have a nice holiday home in the South of France to go to. They are so “thick” that Brian Cowen is taking advise from the partners of Arthur Cox to make sure he is a teflon sealed as that other “thick”, Ahern. Don’t be foolish to think that all the main carachters in this are “in this with us”. Why do you think Anglo was given the breathing space to shred what it had to before the Garda went in. And just to prove that last point: Niamh Brennan goes looking for the minutes of the DDDA/Anglo meetings and – oh my God! they can’t find them. When blogs, vested interest media and peaceful protests have failed, violence is all that is left.

  25. Darren — I’ll make a bet with you. I’ll bet that you are unable to write a comment that doesn’t include the name Arthur Cox.

    Prove me wrong.

    And Darren? Don’t kid a kidder, ok? Would you like me to suggest the name of another large law firm you could quote?

    Feel free to comment all you wish but don’t take me for a fucking idiot.

  26. Darren, I couldn’t give a rat’s arse whatever people want their postal code to be.. I’m not gonna go beat them up over it. Violence is never an answer my dear. Enjoy the sounds of the birds on your walk home, don’t worry about the postal codes, it’s none of your business. Yes I did say “thick”.. would you prefer I say “obtuse” or something. I believe greed fuels stupidity.. but it’s still stupidity. You’ll never eradicate greed by the way, but you can try eradicate the flaws in the system that propagate stupidity.

  27. Why does every thread have to become a slagging match on this forum lately.
    As I said already, the stock market has to be banned. And along with it, estate agents, stock brokers, solicitors, bankers, insurance brokers, politicians, economists and any other kind of human parasite I forgot to mention should all be put on a chain gang, employed to remove the ramps off our roads and reinstate them to their level surface again.

  28. What slagging are you referring to Peter?
    I feel that when someone calls for the use of violence, they should be called up on that. I genuinely meant for Darren to listen to the birds on his walks instead of worrying about postal codes.. but it was nice of the chap to explain thickness to me all the same.

  29. Gambling still has a romantic allure that the Irish are attracted to. We like the idea of thinking of ourselves as daring risk-takers and experts on one-upmanship.

    What you describe above should not be referred to as a gamble. That ties into the inflated self-image the big businessmen and politicos like to accord themselves, which is why you’ll find the leaders congregating on the race track instead of the Dail debating chamber.

    In future we should only refer to this as theft, for that’s what it is. Nation-wide theft.

  30. Bock. The fact that I work one of the other large law firms in no way undermines my assersion that NO Irish law firm should have been awarded the contract to advise the National Asset Management Agency. The awarding of this contract is gross breech of conflict of interest. Now that contract went to Arthur Cox. This was wrong, and that is my opinion. The law firms will throw out the “chinese wall” solution, but this doesn’t work. It can’t. You are dealing with falable, impressive, human beings. Most of these people golf together for Christ sake. My dog knows that NAMA is a con. But since its a con that we seem, as a society, to have swallowed, it should be handled properly. But if you think putting a law firm that is tied to, not just some of the big indebted, but also the government that designed and wrote it into law, you go ahead and throw your mud at me. We’ll be all covered in shit soon – who’ll notice?

    FME. From my meager, average wage I give 5/6 percent of it to my two chosen charities. Until recently -due to having to stop for family reasons – I worked weekends in the DSPCA. I detest poverty and unfairness; and if you think that the deliberate manipulation of postal districts solely for class reasons has no affect on how society functions, you too should stop slinging mud my way and look around.

    Bock. “Don’t try and kid a kidder” Darren is my name. There is nothing in these blogs that I have not written letters to the newspaper with full by-line about or said to colleagues. I refuse to break my contract of confidentiality; that’s called ethics; but I am not prevented from pointing out simple facts that are glaringly obvious to everyone bar those who benefit from their impossible concealment.

    As I said, my name is Darren. I take it you were not Christened ‘Bock’.

  31. Darren — I might not have been christened at all. Who knows? Not everyone in Ireland is a Christian.

    I have no objection to mentioning the impropriety of appointing Arthur Cox to this role. I also happen to think it’s inappropriate and a conflict of interest. However, if you want a post on that subject, it would be better to suggest it as a topic instead of inserting the name of that company into every second comment you write.

  32. Darren, I didn’t sling any mud at you. I disgree with the advocacy of violence to solve anything, that’s all. Like I said regarding the postal codes, I don’t see how it has any impact on anything.
    Class isn’t dictated by where you live or how much money you have in my opinion but by how you behave and treat others. I don’t think myself the use of violence is very classy at all, no matter where someone is from. Sorry.

  33. No need for “sorry”. Originating from Crumlin, i’ve had worse mud than that in my mush.

  34. Darren, there’s no mud.. you said it, (violence is all that is left).. I didn’t. I don’t give a crap where people are from to be honest.. I hate snobbery. Be it “middle class” snobbery or “working class” snobbery… there is such a thing too, whether you know it or not. For instance I had a cup of Earl Grey tea recently and I said to someone this Earl is tasty stuff.. I was accused of being a snob, it wasn’t Earl grey I was raised on and what’s wrong with Barry’s. :) When someone doesn’t pay 4 or 5 Euro for a pint, they can talk to me about my 1 euro cup of tea.. k.
    It’s ridiculous some of the things you hear people come out with.. whilst shopping on Grafton Street recently I asked the assistant which way to Henry St.. anyways she tells me to watch my handbag on that side though, cause that’s the Nor side. You feel like saying ah I’ll be grand I’m from Limerick, I scuffle for my handbag everyday.. In one ear out the other is all I can say.
    Sorry Bock.. nothin to do with Armageddon Outta Here.. no more talk of handbags.. swear. :)

  35. Bock this thread has been a very good read. But to get back to the point where are you going to go? Spain, Greece, Italy America? The whole world has been shagged by a tiny minority ,of sick grubby little entities that will still be quaffing champagne and Beluga caviar when the rest of us starve.

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