Unsecured bondholder debt is a ‘death’ for democracy

WEDNESDAY, November 2, 2011 was a bleak day for Ireland, the crystallisation of the punitive price for this tiny nation’s stumbling from colony to theocracy to plutocracy.

Now, the ultimate financial sanction for our tolerance of those who have led us here has manifested itself in painful terms. The awful reality of our smothering consensus is dawning on us.

Societies that live on overdraft will always be beholden to moneylenders. Societies that allow colonisation by stealth will live under the thumb of oppressors. Societies that allow political donations to infest and muddy the waters of true representation and honourable intent will never get a fair deal from politicians, and politicians will never truly represent them.