People vs. The Banks

“The man who never looks into a newspaper is better informed than he who reads them; inasmuch as he who knows nothing is nearer to truth than he whose mind is filled with falsehoods & errors.”  Letter from President Thomas Jefferson 1807

The Guy who gave us the saying “Power tends to corrupt; absolute power corrupts absolutely.” Also stated “The issue which has swept down the centuries and which will have to be fought sooner or later is the People vs. The Banks.” – Lord Acton, Lord Chief Justice of England, 1875

 This banking crisis provided an opportunity for the Government to liberate the people from this now failed monetary system. The banking system overplayed its hand, it is on the rack. At any time in the past three years, the Taoiseach, Brian Cowen, could have stood up, with the eyes of the world watching, and crushed this system, by just not supporting it. He had the opportunity to be an instant hero, not only to the people of Ireland but to the majority of world citizen enslaved by debt. History would have placed him with the likes of Abraham Lincoln and Andrew Jackson who also stood up to the banks. However our “cowardly lion” took instruction from the circus master, the Banker, Jean Claude Trichet when ordered, “Don’t let any of your banks fail.”

 What was just a monetary crisis is now a social, political, and economic catastrophe. People that opted out of the easy credit, Celtic Tiger, are now enslaved with national debt. Many, who took on personal debt, will not be able to pay it back as our supply of money shrinks.

 A solution is modelled just over 300 miles away from the Dail on the little island of Guernsey. By allowing the banks to fail and introducing a debt free currency we would now be on the road to recovery. If managed well the disruption could be less than when the Euro was introduced and no one would have lost their savings.

 Of course we would still have all our other challenges but they are now just amplified as this debt crisis gets out of hand. Our Taoiseach, and all those who supported him took the easy option. Despite what they tell you, THERE ARE ALTERNATIVES. The only way you will know for sure is by doing the research yourself.

 Currently, the Irish Central bank has printed 51 billion of debt based, uncollateralised Euros to shore up disappearing deposits. They are using a model similar to our proposal to save the banking system. Meanwhile, our deposits are still at risk and we are still stuck with debt that is not ours. “They don’t have to have this funding in cash and the deposits can be CREATED.” Where does a central bank of a bust country get this amount of money? IT CREATES IT… If you understand this fact you should be mad as hell.

If we don’t take a moral stand our country will be lost and we will have to go down the same old route to regain our freedom. You have a chance on Election Day to elect morally sound candidates. However, I don’t believe we are yet brave enough to make real change. Even those candidates with high integrity such as Senator Shane Ross and Paul Sommerville are talking about renegotiating the EU/IMF deal. This is just a banking solution to a failed banking system. SCRAP the DEAL, we don’t need it.

  • Let this system fail.
  • Then introduce a new monetary bill.
    • Reimburse the deposit holders 100% with the new Euro Punt. A currency issued by our treasury without any debt attached and a lite peg to the euro.
    • The government could then spend 10% of GDP into the economy in 2011 instead of borrowing fake money from the bond markets.
    • In 2012 this could be reduced to 8% of GDP then 6% of GDP in 2013.
    • As we get public finances back in order the expansion of the currency will be constitutionally limited to 4% of GDP.
    • Banks reserve requirement would have to increase from 12% to 100%. (Only the Government could expand the money supply and this would be controlled by our constitution.)

 It looks like nobody is going to get air time to explore this proposal even thought many who understand banking and money creation like this alternative. Even if it is a pie in the sky solution should it not get the same air time as other failed systems such as neo-liberalism and socialism?

  “Give me control of the German media, and I can control the German people.” Joseph Goebbels, and from the man himself “The great mass of people will more easily fall victim to a big lie than to a small one.” “What luck for rulers that men do not think.” Adolf Hitler

 This is a battle of People Vs The Banks and the banks are winning. The solutions will not be presented to you on a plate by the bank controlled media. The jigsaw is out there, you just need to find the pieces and put it together yourself.


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