Monday, February 14, 2011

Ireland - Chance for Redemption


Now that the Irish government has fallen and further bailouts for Allied Irish bank and hence all the continental European banks has been put on hold, Moodys has, along with S&P, cut Ireland's debt rating to junk. To all of this I say "good on ya Ireland! It's your chance for redemption".

It appears that many competing Irish parties want to renegotiate the EU-IMF bailout. EU-IMF bailout how about calling it what is, the raping of the Irish citizenry born and unborn, but often I engage in hyperbole.

I have an idea for the Irish, campaign on the promise of no more bail out money and as soon as elected we'll renegotiate the EU-IMF bail out all right with renegotiate being code for NULL and VOID.

There, something the bankers can understand. Nice, fresh unfettered socialism, just as they like it.

Further to this if these renegotiation tactics are unsuccesful, which could be given that heads bankers win, tails (in this case Irish) taxpayers lose Ireland shall immediately and without further notice default on said obligations. Reminding the bankers that it is the dog that wags the tail and not vice versa.

I would then go one step further announcing that if and when elected all prior Irish parties, starting with traitor in chief Brian Cowen, to said bail out and enslavement of the proud Irish citizenry would be charged under Irish law for treason against the state.

I would tell Moodys, S&P, Allied Irish and the European banks who were foolish enough to lend the money in the first place to go pound salt and that the Irish people are prepared to 'go it alone' if need be.

That FREE MARKET capitalism is alive and well in Dublin and the rest of Ireland. Not the perverted form of capitalism banks preach of socialism (no haircuts) for them and capitalism (losses) for taxpayers.

That they can issue all the threats and downgrades they want, the trough they feed at has no more slop. The continent can blood suck off other more unsuspecting victims as the Irish are through being abused.

How bout it Ireland?


Good speculating to you all and please remember to never forget that "an investor is a speculator who made a mistake and will not admit it".


Open Positions:
Long 1 unit Direxion Large Cap 3X Bear ticker BGZ @ $19.34
Long 2 units Direxion Small Cap 3X Bear ticker TZA @ $60.30
Long 1 unit Direxion Emerging Mkts 3X Bear ticker EDZ @ $60.50
Long 2 units Direxion Financial 3X Bear ticker FAZ @ $19.65
Long 2 units Ultrashort Xinhua China ticker FXP @ $42.45
Long 1 unit Ultrashort Real Estate ticker SRS @ $49.10
Long 2 units Direxion Tech 3X Bear ticker TYP @ $52.60
Long 1 unit U.S. Dollar Bull ticker UUP @ $22.56 stop @ $21.44
Long 1 unit Powershares Gold Dbl Short ticker DZZ @ $8.38 stop @ $7.84
Short 1 unit Freeport McMoran ticker FCX @ $56.40 stop @ $57.76

1 comment:

TheBoogieMan said...

Harley,
I don't understand.Why are you holding all those triple shorts from mid last year. Are you really still in them.