Meanwhile, In Ballyhea

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At a Ballyhea Says No protest in North Cork

Diarmuid Flynn writes:

Last protest march of 2019, continuing our campaign against the imposition of private bank debt on the public purse.

On the 19th Nov our National Treasury Management Agency announced that ‘NTMA cancels €500 million of the Irish Floating Rate Treasury Bond 2051’.

That’s a Promissory Note bond, the 4th such announcement this year. In plain English, it means that in exchange for four of the Prom Note bonds created when IBRC was liquidated, our NTMA has given 4 x €500 million to our Central Bank this year, that’s €2 billion, billions it had already borrowed on the open markets and for which we are now liable.

What the announcement DOESN’T say, however, is what the Central Bank did with those billions. To ‘cancel’ that €500 million, the Central Bank actually destroys the entire amount.

It’s all done via computer of course; there isn’t a van-load of hard currency delivered from the NTMA office to the Central Bank vault, there to be physically burned – a push of a button here, and the €500 million appears on the Central Bank books, a push of a button there and PUFF, it disappears, gone.

Four times this year this has happened, €2 billion borrowed and burned, and not a word of protest in the Irish media, not even a word by way of inquiry, even as pages are filled (justifiably so) on the waste of billions on the National Childrens’ Hospital, on the National Broadband Plan.

But we in Ballyhea Says Know continue to campaign, we continue to march. I will sit and debate this with anyone, anywhere, on any platform. Meanwhile, you’re welcome to join us this Sunday.

Ballyhea Says No: December Protest March (Facebook)

9 thoughts on “Meanwhile, In Ballyhea

  1. duncan

    Good on you people of Ballyhea. If everyone did this we would have forced action on this kleptrocracy who ru(i)n our country. Thank you on behalf of all those who can’t be bothered.

  2. Tomm

    Still promoting this? All these groups have since shown their true colours as social conservatives and ethno nationalists.

    1. Diarmuid O'Flynn

      Tomm, would love to know whence you got that notion. Since our first march back on March 6th 2011, BallyheaSaysNo, now BallyheaSaysKnow, has campaigned on one issue and one issue only – the bank debt that was imposed on us. On other issues members of the group have their own varied and diverse opinions, go our separate ways, but on this we’ve been united since day one. Any suggestion otherwise is false, untrue. You may leave that assertion there if you wish and if you do, it will say more about you than about us.
      Regards, Diarmuid O’Flynn.

      1. Johnny Keenan

        Fair play Diarmuid, to you and all the good folk in Ballyhae .
        This is why i gave you my number 1 in European electiion last May.
        Their loss is our gain.

  3. Kolmo

    There’s no word about the literal burning of the accrued 2 billion Euro debt because if it were added to the list of everything else currently dysfunctional (by design or otherwise) they’d have an actual Kildare Street riot on their hands with throwing of stuff and probably a lot of bad language

  4. Kolmo

    There’s no word about the literal burning of the accrued 2 billion Euro debt because if it were added to the list of everything else currently dysfunctional (by design or otherwise) they’d have an actual Kildare Street riot on their hands with throwing of stuff and probably a lot of bad language.

    Fair play to Ballyhea , always dignified and determined.

  5. Ron

    It’s disgusting. And those that vote for either of the FF or FG political filth are as complicit as the filth that carry this out. You all allow this happen. Shame on every single one of ye.

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