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Is your Home loan a Contract?

I recently received notice from my credit union that they were increasing the interest rates on the credit agreement that I have with them by over 36%. I  replied, writing, that I do not agree with the changes to this agreement and returned what they sent me. I await their response.

For the past month I have tuned out of the debate regards our economy. When I tuned in again yesterday morning, guess what, it was the same old voices rehashing the same old irrelevant crap. What’s the bet that none of them, including those trained in Law will ever discuss if your Home Loan Agreement is legally enforceable i.e. contract?

Superficial it would seem that these agreements are legally enforceable as judges are ordering repossessions of homes and people are being sent to jail for unpaid debts. Other would argue that they have to be or else no one would “pay their mortgage”.  To quote the evil one, “The great mass of people will more easily fall victim to a big lie than to a small one.” Adolf Hitler. Just follow this case in the UK to see the level governments and their enforcers will go to hide the big lies. http://www.youtube.com/watch?v=PYQjDppTU0g   I have confirmation that many of these clips have been suppressed in the UK by the Government.

Contract law is fairly unambiguous. I will not pose here all the argument that home loan agreement are not enforceable contracts but I would suggest that if the financial institutions had valid contracts they would use the word contract as opposed to agreement. Not all agreements are contract.

There is a pile of wining that the government are bailing out banks and not the people. Of course, too late, it is  becoming apparent that the new Government is just a continuation of the old. It is up to those in distress to unite, get informed and challenge the higher powers or continue to be taken out one by one.

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.”  http://www.sbpost.ie/themarket/50-billion-in-loans-puts-solvency-risk-on-central-bank-54176.html 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.

Most Important News Story Out There

No it is not the Greens bailing from Government, nor is it the latest poll on the upcoming election. The big story is; as of the 15th of January, the Irish Central bank has created 51 billion of debt based, uncollateralised Euros to shore up disappearing deposits. It has been covered by a few papers and mentioned on TV a few times but do the people understand how significant this is? It shows just how far the ECB is willing to go to save the Euro project.

All the reasons the Government gave us for “saving the banks” are exactly the reasons why they should have just stepped aside and let them fail.

“We need a strong banking system”

“They are of systemic importance to the economy”

“What about the deposit holders?”

“It may have led to another Lehman’s”

“It will affect the cost of our government debt”

“The bond markets will drive the cost of Government borrowing higher”

They could have used the exact same speeches but where they said “we had to intervene” they would have said “we can’t intervene; we have to let the market take its course. We have the legal systems in place to deal with any bank failures”.

The crisis provided an opportunity for the Government to liberate the people from this now failed monetary system. The banking system had overplayed its hand and it was 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 just 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. 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. http://vimtrading.blogspot.com/2011/01/ecb-money-supply-irish-house-prices.html

The heroes presenting themselves for election are on about renegotiating with the IMF. This is just offering a banking solution to a banking problem. A clear line needs to be drawn between our banking system and our government and nation debts. Then cut these banks loose. What about the deposit holders? Well if the banks fail it is a perfect opportunity for the treasury to reimburse deposit holders with debt free Punts. This currency could be pegged “lite” to the euro or any of the other major currencies. Of course to understand how this would work you need to have some understanding of the current system, as well as how our central bank can come up with €51billion when we are broke.

Percentage rise in ECB Money Supply & Irish House Prices Since Nov 2000

Turning the Corner

As I write this blog a yahoo headlines states “Taoiseach Brian Cowen is set to declare that Ireland has turned a corner from the economic doldrums during an official trip to the United States.”  While Ireland may have turned a corner it is more likely that we are headed down a dirt track and over a cliff than onto a motorway paved with economic growth. If any of you out there believe this headline or that the government are working in the interest of the majority of society you are quite simply delusional. Firstly we will paint the picture of where this country is likely to go and then we will suggest an alternative which has very little chance of happening.

As the meltdown unfolded the government intervened in the stock market to stop short selling of bank shares. Then we had the infamous bank guarantee followed by NAMA and austerity budgets. Besides all the statements and media coverage trying to convince the public that these measures were in our best interests we all know in our hearts and with a little common sense that they were not. We often hear the saying “rearranging the deckchair on the Titanic”, the actions of our Government and the external forces over the past 2 years has been an effort to keep the pumps going while they selected who got the life rafts. It wasn’t a women and children first policy.

The tolerance and inaction of society to government interventions leads to the conclusion that we will have more of the same. Instead of recovery we will have more hardship, job losses, and debt slavery. The Government will cut around the fringes but our borrowings and bailouts will spiral out of control. Like the UK we may change Government but the citizen will not be brave enough to make real change and the media will only present a slightly different right of centre authoritarian option. The state will become bankrupted and will come under the control of an EU insolvency committee. To make it palatable to the citizens an Alan Dukes type figurehead will head this committee. John Bruton will be my top prediction for this post. On the street many will say we are better off under this committee as “they can’t be much worse that the crowd before them.” Government will again present this as our best and only alternative. At this point all dreams of a constitutional republic will be just that, a dream.

To prevent this nightmare, citizens need to take action. For a new party to emerge and take a dominant position may be asking too much. However, there is some evidence with the success of George Lee that the people are willing to elect candidates of high morals within the mainstream parties. While George Lee may have left his electorate down this is no reason not to try again.

Our woes did not begin in 2008; they began with debt based money. To build a brighter future we need a Government that serves the citizens. This Government will take morally correct actions and not the easy way out or what they are told by external forces. A scenario would be for the government to take their hands out of the market and let the cards fall where they may. We would then say goodbye to the Euro and declare ourselves a sovereign state. Our treasury would issue debt free money. Those who lost deposits could be reimbursed at some level with the new Punt. Our constitution would state that government can only issue 2 or 3% new money per year to be spent into the economy. This would mean our money supply would double every 24-36 years. Society would be informed on credit creation, its effects and its risks. Creditors and debtors would have equal risk.

We would likely receive pressure, threats and economic sanctions from foreign sources. To counter this we would need to express to the world our openness for free trade and our willingness to pay back our debts. We would also need to point out to citizen of the world that we are an alternative model to what is in place today.  While those in power may not like what we are doing the majority of citizens would admires us. We must also remember that there are over 80 million people that claim Irish descent that we could depend on for support.

Our priority should be to reclaim our sovereignty. Currently, the majority of society still believes we are in control. This is not a lack of education or intelligence. The majority of us just want to live a simple life and give our children a better standard of living than we had. We assign many things to others in good faith including the management of state issues and management of our pensions. However, our trust has been breached by those who spend all their sleeping hours developing plans on how to grab control and wealth. They then spend all their waken hours implementing these plans. These people are not capitalists but may have enterprises that resemble capitalism on the outer layers. Many of us are compromised as we are dependent on these people for our daily bread. Nobody wants to lose what they already have and will be satisfied taking a pieces of a diminishing pie rather than risk building a system where there is ample pie for all.

Sadly, things will need to get much worse before people will begin to take a strong stand. By then it will be to late.

Morgan Kelly on Irish sovereignty

Morgan Kelly’s opinion in the Irish Times on the 22nd of May titled, “Burden of Irish debt could yet eclipse that of Greece,” has received a vast amount of scrutiny during the week. Besides all the facts and figures what stood out for me was his observations on Irish Sovereignty.

 

“The issue of national sovereignty has for so long been the monopoly of republican headbangers that it is hard to know whether ordinary, sane Irish people still care about it. Either way, we will not be having it around much longer.”

 

The dwindling crowds at the Dail protests on Tuesday nights is thankfully evidence that the Irish people have little interest in being hoodwinked by the leftwing headbanger. On being a sovereign republic, I’d say most gifted it away without knowing or were hoodwinked by the promise of a free lunch by the so-called neo-liberals.

 

What history has proved is that attaining independence is a mammoth and generally bloody task but handing it away can be done at ease. 

Collateral Murder

http://www.collateralmurder.com/  (Warning Very Disturbing Footage)

In Ireland we are still hurting from the atrocities inflicted by the British. Nearly 40 years on from bloody Sunday people are still looking for answers. We had the Black and Tans and the famine of the 1840s’ which still scars us and our relationship with Britain.

While we allow flights of US Soldiers to stop in Shannon on the way to commit these war crimes we are guilty of collusion. War Crimes like this one are probably happening every day. This one has been exposed because two of the murdered were Reuters News Staff.

Our Taoiseach Brian Cowen was thanked by the US President on St. Patricks Day for his part in allowing Shannon Airport to be used as a stopover for American Troops on their way to commit these War Crimes. Anyone voting for these people is playing their part.

facebook link

facebook link, looking to see if there is an appetite for change or is it just more complaining, blaming others and doing nothing about it. http://www.facebook.com/pages/Irish-Sovereignty-Party/114571111886400?ref=mf