Financial Resource

(This article is a follow-on to “Snakes And Banksters: A Tale of Reptilian Treachery.”)

The Irish Government is so hard up for cash that it is considering auctioning off national assets like state lands, buildings, state agencies, and other valuables that belong to the Irish people.  The Government says that the money is needed to support economic growth and employment.

When the cash for the sale of these assets is spent, what then?

The State will still have no money and its assets will then be in private hands. The inherent wealth of the citizens of Ireland will have passed to the super-rich, a small class of people who already own most of the wealth of the island. The thrift, travail, and sacrifice of previous generations will be casually tossed aside. What would have been the legacy of future generations of Irishmen and women will now find its way into the bulging pockets of the banksters and the corporatists.

It is like a middle-aged couple selling their house and belongings to finance an extravagant lifestyle and then becoming homeless, leaving no inheritance for their children.

Selling the national assets will only serve to impoverish the Irish people yet further enrich a wealthy elite. It is either an act of criminal stupidity or one of national sabotage. It is criminally stupid because it strips the Irish people of national treasures which have become the foundation of the wealth of the nation while at the same time delivering no enduring gain.

It is national sabotage if the government is doing this merely to further the interests of their exploitist pals in banking and big business. Many national governments have shown themselves to be working not for the people who elected them but for the welfare of a powerful elite who buy politicians with party donations, post-politics employment, consultancy fees, holidays, and other bribes.

The big question is whether the Irish Government is brainless or corrupt. Either way, it is not acting in the interests of the people of the country.

Is there an alternative?

Absolutely! There is an alternative that will allow the Government to raise money without going into debt or paying interest and yet still keep all our national assets.

It is called monetization. Banks and financial institutions do it all the time to increase their capital reserves to enable them to lend (create) more money. If, for example, a bank owns property valued at €10 million it can create and loan, through the Fractional Reserve System, an amount of about €120 million in cash or credits.

A government can do the same. In Ireland, the state owns many billions of euro in property, parks, natural resources, and many other kinds of assets. All it needs to do is monetize only a small fraction of these. Let’s say it nominates certain state-owned buildings or land valued at €10 billion: it can then create some €120 billion in credits which it can loan out through a national bank set up for the purpose of creating employment and getting the economy moving again.

The state can thus create €120 billion without going into debt and without having to pay interest to any grasping bankster. This would be of enormous benefit to the welfare of the people and of great financial advantage to the State. Such a bank would enjoy universal confidence as it would be backed by the full faith and credit of the Irish Government and the Irish people.

A state-owned bank would work for the enrichment of all the citizens of Ireland, not just for the few shareholders of private banks. At the moment, private banks create almost all our money, set interest rates, decide whom they will lend to and whom they will not. This allows them to wield tremendous power and gives them the ability to override parliamentary decisions and government policy. In other words, unelected private banks decide national (and international) economic policy and governments are completely subservient to their every diktat. That is the key reason why the entire world is now in utter financial chaos.

But a government owned bank could operate in complete freedom from bankster influence. It could loan money to county councils, municipalities, farmers, fishermen, small businesses, and citizens at low interest rates and it could afford to be patient when times are hard. For example, if a business venture were not profitable or was even making a small loss, a state bank could continue to support it as long as it was providing jobs, bringing in tax revenue to the government, and keeping people off welfare which would be a drain on the exchequer.

Today, viable businesses are going bankrupt by the hundreds, families are losing their homes by the thousands, and workers are losing their jobs in their tens of thousands – all because private banking cartels choose, for selfish corporate reasons, not to lend to the business and private community but to stash their bailout money in ‘safer’ gilt-edged investments. Banksters have no loyalty whatsoever to the state or its citizens. Their god is Profit, profit at any cost; huge dividends for their shareholders and obscene bonuses for their executives. The people be damned!

But a government bank could change the fortune of the state almost overnight. It could create enough money or generate as much credit as it needed, all without debt or crippling interest. Of course, that’s not to suggest that a state bank should throw money at every hare-brained scheme that is put before them. Borrowers would have to have a viable business plan and provide adequate security for the amounts sought. But, as opposed to private banks, a state bank could take more risks and accept lower profits where private banks will not. All profits accruing would go to the national exchequer or be re-invested as bank capital. Also, all government receivables would be lodged in the state bank, thus generating additional funds for future lending.

A state bank would lead us to national prosperity, full employment, improved infrastructure and resources, less national debt, and less taxes and allow us to emerge cheerfully and hopefully from the horrendous mess into which private banks have landed us.

The Government has already missed a huge opportunity to get us on the right road to wealth and prosperity when it threw billions of taxpayers’ money into that black hole of criminality known as Anglo Irish Bank when a national bank could have created credit of more than €200 billion with the money that has already been squandered and lost forever.

It is plain that government ministers do not have a single innovative, intelligent thought between the whole lot of them, nor is there any sign of original or inventive thinking among the opposition parties who are poised to seize the mantle of government by default.

If this proposal, outlined above, is put before the government, do you think they will implement it?

No, they won’t.

Why?

Because the banksters would not allow it. It would put them out of business. And we all know by now, after outrageous bank guarantees, bank recapitalization, the Anglo Irish Bank debacle, and NAMA, whom our politicians really work for.

We the people must force change. We must educate and bring forth new political creatures who will actually work for the good of the people rather than those corrupt dinosaurs who belong to the banks and big business. We must boot the incumbents out of office and we must decline to elect their drooling cousins who are wetting their pants with excitement at the prospect of taking office.

Where do we start?

We can start by passing this article on to our friends and associates. We can discuss banking reform at home, at work, in bars and clubs, and in our community centres. We can research what others think by reading their books and pamphlets and by visiting their websites. You could start with Ellen Brown (Web of Debt), Michael Rowbotham (Grip of Death), G. Edward Griffin (The Creature From Jekyll Island), and Stephen Zarlenga (The Lost Science of Money).

Forget about the highly propagandized mainstream media which is controlled by a handful of huge corporations and switch to alternative TV news channels like Russia Today (Sky 512), Al Jazeera (Sky 514), and Showcase (Sky 201 & 203). (The Controversial Channel used to be on Sky 201 but it seems to have gone off the air. I wonder why.) These channels may not give you the whole truth either but you will have much more balance.

You could visit and subscribe to internet news sites like Jim Corr, Alex Jones, Global Research, Dandelion Salad, OpEdNews, The Alliance for Natural Health, and a great host of others.

The thing is to get talking and to create a national forum where ideas can be critiqued and exchanged. The ideas put forward in this article may be challenged, improved, expanded, adopted, rejected, or whatever. But what is clear is that we MUST have banking reform, total reform – not just tweaking the system here and there.

The idea of a National Bank should not be seen as a goal of monetary reform but as a stepping stone to achieve monetary justice and freedom. Banking is not a proper function of government but government intervention is required now to clean up the mess criminal banksters have foisted upon us.

It is, however, the proper function of government to create and issue a nation’s money, debt-free and interest-free. Such a course of action would make for a wealthier, happier, country that would break the shackles of the banksters and end a miserable 300 hundred year sentence of debt slavery.

Abraham Lincoln was on the verge of achieving monetary freedom with his ‘greenback’ programme which had enabled him to win the Civil War and preserve the union. He

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