Sense on Cents

Is there any greater motivation for man than the sense of being disenfranchised?

Throughout history, those who have been disenfranchised have used that reality as the motivation to move mountains…..if not governments. What stokes the fire of those who would take up their cause and speak out on behalf of their people? Not only a sense of injustice but often merely a lack of representation. We witness a growing sense of all these realities in the Republic of Ireland. Why’s that?

The Irish citizenry are increasingly aware that the Irish “bailout” brokered yesterday by the IMF, the European Commission, and European Central Bank is truly a backdoor bailout of international banking institutions on the continent with the costs to be borne by the Irish people. While Ireland’s sitting government may have balked at this bailout, ultimately they caved to the pressure from the powers within the EU. Sinn Fein, the opposition party in Ireland, is speaking out aggressively on behalf of the Irish people who are bearing the cost of bailing out international banks.

The Euro and other related markets overnight are very much aware of the growing opposition within Ireland to the ‘backdoor bank bailout’. Risk premiums are rising across many market segments as a result. Let’s navigate ‘across the pond’ to the Emerald Isle and listen to the leaders of Sinn Fein, including its ‘tough as nails’ President Gerry Adams (the second to speak in this video clip), rail on the sitting Irish government, Fianna Fail, and those within the EU who orchestrated this ‘backdoor bank bailout.’

Navigate accordingly.

Larry Doyle

This entry was posted on Tuesday, November 23rd, 2010 at 7:03 AM and is filed under General. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.