I promise
What the fuck is a promissory note?
For that matter what the fuck is a bond?
And why, nearly four years on are we still trying to pay the debts of a bank which has gone bust?
As far as I can make out, Anglo Irish Bank still needs money to pay the gamblers so it borrows from the Central Bank. The Central Bank doesn’t have the money so it gives a “promissory note” or a bond or something to Anglo. Apparently the promissory note is worthless and can be torn up in a few years [why not now?] but in the meantime the Central Bank has to borrow money from Europe to cover the cost of the promissory note which is worthless. And apparently we can only borrow from Europe as the money market doesn’t trust us and the profligate way we chuck money into dead banks.
It’s doing my fucking head in.
As far as I can make out, there was a shed load of invented money floating around five years ago. When the crash happened they suddenly realised that there was a couple of trillion in banks and elsewhere that didn’t actually exist. All they found was a couple of trillion IOUs that were worthless. Instead of tearing up the IOUs, they decided that someone had to pay them so they are shunting them around Europe trying to find some fucking idiot who will pay hard cash for them. And we all know who that fucking idiot is, don’t we? You and me.
They can fuck off.
I have had it with Noonan and his “great deal” that he has done whereby we don’t have to pay one of our the gamblers’ debts for fourteen years or one year [no one seems to know which].
I am sick of hearing about the fat cats who are running banks making billions in losses but who are still paid funny money salaries and stellar bonuses. How come the head of Anglo [which is bust and is being wound down] got paid €800,000 last year out of my taxes? How come €200,000 of that was “relocation expenses”?
Worst of all, I am sick and tired of that fucking “troika” ordering us around, and our gubmint licking their arses at every opportunity.
I have decided to pay the property tax.
No. They aren’t getting their grubby little hands on my cash.
I’m sending them a promissory note.
Indeed, this is all such a pile of shite. As regards promissory notes and bonds, I was thinking the exact same thing last night when I was watching Vincent Browne. That West Meath FG TD they had on (can’t think of his name) sounded like he was on speed. By Jesus he couldn’t half talk fast and apart from that he just wouldn’t shut the fuck up either, even when others were trying to say their piece. Now I know these fuckwits are hand picked to appear, this guy was obviously picked for his linguistic qualities. In otherwords, the less people that understand all this the better.
For all we know they could be playing with Monopoly money and it wouldn’t make a fucking difference.
Heh! I watched that too. Yer Man was the greatest fucking know-it-all mouth. He didn’t seem to realise he was sitting next to an economist whom he kept contradicting. Jayzus but the caliber of our political representatives leaves a lot to be desired.
“Jayzus but the caliber of our political representatives leaves a lot to be desired.”
Same could be said of a lot of countries GD.
If I was at home I would send in a post dated cheque. Post dated to 2020 🙂
“If I was at home I would send in a post dated cheque” In other words.. a promissory note. Heh!
I know its the UK but…
If you offer payment and they return it to you then is is payment in full as it has been rejected, this is quite clear under the bills of exchange act 1882.
Don’t take my word for it, look at the five pound note in your purse or wallet, it states that it is a promises to pay upon demand.
http://www.newstruth.co.uk/who-pays-for-the-water-ceylon-explains/
Bill – I would assume the same or similar rules apply here.though the Euro note makes no such promise [horrible fucking design!]. I wonder if I could make a post dated payment on line? Heh!
i promise i won’t give you any notes
…oh shit i think i just did…sorry
GD – You expect it to make sense and it does not. The politicians and the bankers make millions and fuck the rest of us.
What kills me is that we are bursting our bollox, to pay back a debt we didn’t incur, so that we can back into the markets, to borrow more money at a higher interest rate, to get even more into debt.
That appears to be the plan then.
The bastards are winging it, and lying through their teeth every day.