UK To Bail Out Ireland’s Banks. Foundation X To Pay?

Has Foundation X finally persuaded George Osborne to listen?  Osborne is offering to save the Irish banks, as stated

here on Yahoo news and elsewhere..

Nov 17 (Reuters) – Britain is ready to help Ireland in restoring stability to its banking system, British finance minister George Osborne said on Wednesday.

“We’re going to do what is in Britain’s national interest. Ireland is our closest neighbour and it’s in Britain’s national interest that the Irish economy is successful and we have a stable banking system,” Osborne said ahead of a meeting of European Union finance ministers.

“So Britain stands ready to support Ireland in the steps that it needs to take to bring about that stability.”

That I would imagine will require a sizeable amount of money, which is not likely to be easily available to the British government right at this moment unless they get help.  Lord James said on Sky that ‘FX’ had selected Britain as the ideal place to work to save the world’s banking system, presumably preferring to do that to working via the corrupt and bureaucratic EU, or the totalitarian and greed-crazed USA.  British sangfroid and reasonableness might still be the bottom line of successful banking relationships, if the opinions of Foundation X are correct.

Here is the first evidence that the traditionally secretive British-based central bankers, which might include the Rothschilds and senior members of the Royal Family, have finally got together with the British government, and an arrangement has been made whereby some of the trillions lost to the banks through derivative frauds, orchestrated through the likes of Goldman Sachs, can be chanelled back into the regular economy, and bail out the banks.

The terms on which this money is being made available are unknown.  These could be interest-free loans to the British Government, which will not necessitate the selling of any gilts.  I imagine that British banks are being handed the funds they need at the same time to bring a core stability to the banking systems of Britain and Ireland.

The significance of this news could hardly be greater, yet we cannot know what is really going on, as we are only getting small details which have spilled out through Lord James and others.  Does this signify a decision to work separately from the EU by the British government, saying in effect that we will handle the banking crises in Britain and Ireland, making it easy for the EU to assist the Irish government and keep the Euro from collapsing in Dublin, or even that Ireland could protect her sovereignty and continue without an EU/IMF bailout?

I’ll be looking out for more details through the day.  I’ll report back if I see anything.

LATER – The FT makes scant mention of what Osborne is planning, saying obscurely –

George Osborne, UK chancellor, was considering billions of pounds in loans to help the bail-out, a move likely to be more palatable to his Conservative party’s Eurosceptic members than joining in an EU package.

Strangely no mention is made as to where these funds might come from.

The WSJ also obscure says –

The Irish government is believed to be negotiating a deal aimed at helping the country’s ailing banks rather than a package to help service sovereign debt. This would help the government escape accusations that it was caving in to euro zone fiscal demands that compromised Ireland’s sovereignty.

The NYT adds –
George Osborne, the British Chancellor of the Exchequer, noted that British banks are the most heavily exposed to the Irish financial sector, and that it was in “Britain’s national interest that the Irish economy is successful and we have a stable banking system.”

“Britain stands ready to support Ireland in the steps that it needs to take to bring about that stability,” Mr. Osborne told reporters going into the meeting.

I was on the lookout for signs that Osborne had decided to meet Foundation X, and suddenly appear flush with cash, and able to spend.  It’s out of the blue, and here he is.

The Tap Blog is a collective of like-minded researchers and writers who’ve joined forces to distribute information and voice opinions avoided by the world’s media.

15 Responses to “UK To Bail Out Ireland’s Banks. Foundation X To Pay?”

  1. X Hoax ? says:

    Cranmer did a blog about Foundation X and said it was a hoax. Hard to tell I suppose.

    ” His Grace is sorry to spoil the conspiracy party, but this is an elaborate and very sophisticated hoax.

    Lord James has neither lost his marbles nor encountered the dark forces of the Illuminati: intelligent men tend not to waste their time looking for the crock of gold at the end of the rainbow because they know the laws of physics and that rainbows are full circles. They tend not to believe in leprechauns or fairies at the bottom of the garden or little green men from Mars. The Noble Lord has simply been had, Jeremy Beadle-like, by a group who get kicks out of duping the gullible and naïve.

    How does His Grace know?…..”

  2. Tapestry says:

    Who’s got time to go around doing that these days?

    I believe what they say, as is obvious. Cranmer does not understand fear. He has a direct line to the Almighty but no handle on Finance.

  3. Craig says:

    Well it now appears that Ireland is faced with the Hobson’s Choice between dependence on Brussels or London. Neither of these appeals to me. But if we don’t accept outside help we might go bankrupt. There seem to be no good alternatives in this situation. Leaving the euro and re-negotiating our relationship with the EU might help a bit, but we’ll still be faced with a massive deficit.

    God save Ireland…!

  4. Tapestry says:

    The biggest problem Ireland faces is the debts of the banks. If these are taken on by central bankers via London, the rest might be handleable, without an EU/IMF bail-out.

    It’s so hard to know what will happen. It’s getting just as hard to find out what is happening.

  5. Twig says:

    Well I suppose Osborne could nogotiate a rescheduling of the money owed to the UK’s state owned banks, but I haven’t seen the figures so I don’t know to what extent it would help.

    Maybe we could send the “socially cleansed” population from London to use their housing benefit to take up the slack in the Irish property market. An added benefit is that it would take the pressure off of the London rental market.
    Maybe they could even reduce the benefit down to £200 a week due to the plentiful supply of empty housing estates in Ireland. If this in turn lowered London rents Osborne could then drop the housing benefit cap again.

    An Irish colleague tells me that council houses in the republic now come with en-suites; nice.

  6. Tapestry says:

    Sign me up for one please Twig. I’ll take one somewhere near Cork in August.

    The debts of the Irish banks are bigger than Ireland’s GDP. Osborne must have access to serious money.

    It smacks of Foundation X, which has been laughed out of court in the British media. But which I would suggest is a likely thing to be happening, given that Central Banks hold so much cash, after screwing the clearing banks in the derivatives markets for ten long years.

    I might be the only one giving Lord James credence, but it makes sense to me, and I’m sticking to it. No evidence has emerged to doubt him. Only a lot of ‘this guy’s a nutter’ which he isn’t.

  7. Robin says:

    Did you expect the Chancellor to say “We will bail out the Irish banks with Foundation X`es money” ?

  8. Tapestry says:

    No Robin I did not. That’s why this interests me. How else could Osborne suddenly be able to offer funds to Ireland if he hasn’t got a source? Most commentators discount Foundation X. I don’t, as the story fits what we know to be the case about Central Banks.

  9. Robin says:

    We have a deficit yes, but we still have money and we still have Government , and the two mean that a chancellor will pledge money that we feel he hasnt got ;viz the extra to the EU and Third World development.
    In fact there has not been a cut in government spendiing, mrerely a reduced rate of increase.
    So if you see extra spending pledged anywhere, dont immediately put it down to shadowy organisations, but to the normal government use of money .
    Also I would expect our chancellor to help out Irish banks ,at any time they are in the situation they are now .
    Dont forget Gordon Brown pledged our money to help the EUro.

  10. Tapestry says:

    Britain agreed in Maastricht that the Euro is our final destination, and that the other countries of the EU can force us to join eventually. We agreed to keep all our reserves at the ECB which is why Brown sold the gold, as a political statement that he was carrying out our treaty obligations to denude ourselves of financial reserves.

    The amounts needed to bail-out the Irish banks are vast. They owe $300 billion plus to Britain alone.

    Foundation X wants to preserve the financial stability of the world if it can, and is willing to hand over funds to achieve that aim.

    Producing financial instability was the aim of the BIS in its Basel Banking rules, and bankrupting is the usual method employed to bring countries under its heel. Yet it seems that one part of the central banking fraternity is having second thoughts.

    The British government couldn’t aspire to help without central banks deciding to fund that help.

  11. Robin says:

    What is BIS ? If its a semi regulatory body for banks , then I can see them bankrupting nations if there is no alternative and a government has been way out of line .

    The Sunday Times ,page 23, has an article on Foundation X . It appears to be a hoax.

  12. Tapestry says:

    The BIS is the Bank Of International Settlements based in Basel Switzerland. It is the central bankers’ central bank, also privately owned. Its subsidiary organisations are The World Bank and the IMF.

    I am not able to access the article on Foundation X from here. I am sure that they will want to say it is a hoax. I would like to see the details of the story, though. Lord James was convinced it was not a hoax. If it’s not a hoax they would say it was.

  13. Tapestry says:

    I read a Foundation X water-muddying effort on Reuters blogs also. Not very convincing attempt to say who FX are, just to say who maybe they are not. Reuters and ST are part of media groups known to cooperate with NWO/OWG.

  14. Robin says:

    I looked at the BIS website .(I thought I heard about them.)
    It doesn`t look to me as though they run the IMF , World Bank etc . Or that they are One World Government types.

    It would be no surprise that leading financiers tried to stabilise an economy. It was done on the New York Stock Exchange in the Great Depression . Wouldn`t it help if they did it openly though ?

  15. Tapestry says:

    Might I suggest you make a study of the late Joan Veon on youtube, an American journalist who researched the BIS for a decade and more. The truth is not to be found on websites but in the words of people who know what is going on.

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