Oliver Stone

Oliver Stone
Untold History of the US

Wednesday, March 14, 2012

Anglo Irish "Solution" - PACTA SUNT SERVANDA

A quick look at the web-site set up recently as the "Irish Bank Resolution Corporation Limited" suggests the following:

#1.Resolution conveys that there is something to RESOLVE - there is nothing to resolve except to continue screwing the Irish taxpayer. Anglo bond holders are UNSECURED and therefore shouldn't get a PENNY!

#2. Some of the board members are precisely those who ran the banking industry into the ground through greed and unbridled fiscal rectitude (see link)


#3. This entity sounds very like a collection agency working on behalf of the banks that hold the Anglo bonds and NOT working on behalf of the Irish people and taxpayers, none of whom owe a penny to Anglo and the other poorly run and crappy financial institutions.


According to the story above, the Irish government must honor its financial commitments and the Latin phrase: "Pacta Sunt Servanda" is uttered to the Irish government ensuring that no financial rebellions take place.

In other words, "respect your commitments and obligations" as far as the ECB is concerned with respect to Ireland.

A list right shows WHO OWNS ANGLO BONDS and who the IBRC is REALLY WORKING FOR!

(see link below)


"Cead Mile Failte to the IMF" --- Great Song (in time for Paddy's Day!)


Below is a low resolution screen shot of some of the bonds coming due in teh next few months and years and bondholders both secured and unsecured will be paid off while hospitals, schools and roads across the Irish Republic will go UNFUNDED!

And further, Anglo Irish Bank is only the tip of the iceberg, Allied Irish Bank is also in dire need of assistance ---

Below is a link that explains just how serious the Irish financial fragility really is and how the big global banks are exposed to Irish bank debt, some secured and most unsecured:


Take at random the five year bond, ISIN NUMBER# XS0307691559 issued by Anglo on June 28th 2007 and maturing this June, 28th 2012.

The amount is 400,000,000 GBP (Pounds) and with interest and upon maturity will become more than 461,095,101 GBP, while the OMOTS in Ireland will see taxes increase, funding for hospitals DECREASE and general services SLASHED, all because an UNSECURED BONDHOLDER somewhere in the banking system has to be paid off with interest.

An ISIN number refers to the International Securities Identification Number and by GOOGLING the aforementioned bond several PDFs appear with risk attached and comprehensive analysis covering each and every bond.

Bottom line here, the bond that matures on June 28th 2012 will be repaid with interest and the OPPORTUNITY COST of repaying that UNSECURED bond will be massive austerity measures and CUT BACKS!

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