Worried About Your Money? Move It To Ireland!

by Thomas
13 replies
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Hello Warriors:

If you're worried about your money, move it to Ireland

There are only 6 banks in Ireland and they're all pretty stable. About 2 weeks ago, though, a popular radio talk show, listened to by about 25% of the adult population, began speculating that they could collapse (merely on the basis that other banks have collapsed in other parts of the world).

Within 30 minutes, €50 million (and counting) had been withdrawn...

In response, the Finance Minister personally telephoned into the show and publically admonished them for their action and then immediately quintupled the deposit amount that the Government will guarantee.

That stemmed the flow.

And then...

Millions of euros began pouring in from the U.K. from jittery British depositors fearful of further problems in the British banking sector.

Money then began coming in from other European countries.

And now, this morning...

The Irish Government have guaranteed deposits to the tune of €400 billion (that's U.S. $574 Billion) for all deposits in Irish banks. (Yanks, want to stash your money somewhere? )

So... if it all doesn't go belly-up, the Irish Taxman is going to be pulling in a mighty large windfall in the immediate future .

(Of course, if it DOES go belly-up, my grand-children's grand-children will still be paying for it. )

Tommy.
  • Profile picture of the author HeySal
    Moving to Ireland is sure a good economic idea right now, Tommy, but......
    I hate the thought of saving my wallet to the detriment of my liver.
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    Sal
    When the Roads and Paths end, learn to guide yourself through the wilderness
    Beyond the Path

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    • Profile picture of the author Mal Keenan
      Tommy,
      If I ever make enoguh money worth worrying about I'll send it down south

      HeySal,
      The Irish don't actually drink that much. It's just Black Propoganda to keep us down and stop us ruling the world. :p


      Originally Posted by HeySal View Post

      Moving to Ireland is sure a good economic idea right now, Tommy, but......
      I hate the thought of saving my wallet to the detriment of my liver.
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      • Profile picture of the author HeySal
        Mal - it won't do you any good to say that-- we are well familiar with Tommy!
        He was in here when he became the poster "child" for Irish behavior. You know the poster - the one with his banjo in one hand and the bottle of Jamison in the other, that says "Welcome to Ireland". Now you try to tell me it was just all propeganda? What I said is I won't MOVE there - now I am reconsidering my vacation, too.
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        Sal
        When the Roads and Paths end, learn to guide yourself through the wilderness
        Beyond the Path

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        • Profile picture of the author myob
          We are there, Tommy. I've been investing in Irish stocks for almost 7 years now. Don't have money in Irish banks, but stocks there have got some of the lowest P/E ratios (undervalued) I have seen anywhere. Made some serious drinking money from Dublin-based CRH, supplier to most of the building, concrete and road contractors in the US.

          Now I see how you can afford to drink so much of that premium stuff!
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  • Profile picture of the author bendiggs
    Right now most foreign investments are better than US investments as a general rule. Finding the really sound investments is the trick, but it sounds like Irish banks have at the very least got their finances under control more than we do
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  • Profile picture of the author dean mcevoy
    it looks like the luck of the irish strikes again.
    my 2nd name is mcevoy, think ill get any?
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    • Profile picture of the author Kay King
      My great-grandparents were from Kilkenny - so you think I should take my $10 and move there to keep my money safe?

      kay
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  • Profile picture of the author Thomas
    Thought y'all might like to know...

    The above-mentioned €400-billion guarantee become law earlier today and there has been an immediate acceleration of the trend of the last 2 days where several hundred millions pounds sterling a day has been leaving the U.K. into Irish banks. An as yet undetermined amount has been deposited into Irish banks in other countries.

    In addition to the 6 Irish banks, Ulster Bank, the Bank of Scotland, and NIB (all foreign owned banks operating in Ireland) look likely to be included.

    Apparently, Allister Darling telephoned the Irish Finance Minster today telling him not to proceed and now the E.U. are in a flap because they weren't told anything about the plan. When they asked they were told it was an Irish matter and to butt out.

    Lets see...
    • Security of the Irish banking system increased. Good.
    • Hundreds of millions a day flowing into Irish banks. Very good.
    • E.U. very annoyed. Very very good
    Geez... all good so far...
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    • Profile picture of the author Mal Keenan
      Ireland seem to be making a habit of upsetting the EU lately. if it's not the damned rebellious Irish people refusing to toe the line it's the government
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      • Profile picture of the author Thomas
        Originally Posted by Mal Keenan View Post

        Ireland seem to be making a habit of upsetting the EU lately. if it's not the damned rebellious Irish people refusing to toe the line it's the government
        It's jolly good fun, Mal.

        I recently found out that, over the last few centuries, the Irish have fought 267 battles against the forces of 11 other nations.

        The E.U. is bigger than all those nations combined so it's just too inviting not to go for 268 (albeit in a less bloody way).

        Tommy.
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    • Profile picture of the author Mike Wright
      Originally Posted by Thomas View Post

      Thought y'all might like to know...

      The above-mentioned €400-billion guarantee become law earlier today and there has been an immediate acceleration of the trend of the last 2 days where several hundred millions pounds sterling a day has been leaving the U.K. into Irish banks. An as yet undetermined amount has been deposited into Irish banks in other countries.

      In addition to the 6 Irish banks, Ulster Bank, the Bank of Scotland, and NIB (all foreign owned banks operating in Ireland) look likely to be included.

      Apparently, Allister Darling telephoned the Irish Finance Minster today telling him not to proceed and now the E.U. are in a flap because they weren't told anything about the plan. When they asked they were told it was an Irish matter and to butt out.


      Lets see...
      • Security of the Irish banking system increased. Good.
      • Hundreds of millions a day flowing into Irish banks. Very good.
      • E.U. very annoyed. Very very good
      Geez... all good so far...
      Cool Tommy
      Did you know that the great British Post Office has kept savers
      deposits in Irish Banks ... before all this latest PR

      Perhaps it is no coincidence that we have a GREEN "big grin" smiley
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      • Profile picture of the author HeySal
        So what are the leprechans doing with their pots right now? Ivesting, burying, or just continuing to tease rainbow gazers?
        Signature

        Sal
        When the Roads and Paths end, learn to guide yourself through the wilderness
        Beyond the Path

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      • Profile picture of the author Thomas
        Originally Posted by Mike Wright View Post

        Cool Tommy
        Did you know that the great British Post Office has kept savers
        deposits in Irish Banks ... before all this latest PR

        Perhaps it is no coincidence that we have a GREEN "big grin" smiley
        I did not know that... throws new light on the phrase "laughing all the way to the bank".
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