It really is a sight to behold how an entire country can be fooled by the likes of Biffo and Enda Kenny. The Laurel and Hardy duet of the comedy act which is Ireland 2009. They are affectionately known as Magic Arse and Enda the Eejit. Magic Arse got his name back in the good times when I predicted that he would need to shythe gold to save the day and of course Enda the Eejit is self explanitary. These pair will be explaining how it will be best if Ireland gives up it's sovereignty to "our friends" in Europe. Good Luck.
But the issue at hand is the willingness of the taxpayer to pay out what will be about 80 billion to the banks. It will never be paid off. Ye will be slaves to a debt ye did not encur and definately did not benefit from. Not only are ye caught for 80 very large but nearly everyone will be caught paying about 250000 more for their house than it is worth.
Bubble, bubble, toil and trouble.
Some say NAMA some say Nationalise and Gilmore says, well I guess he says nothing which is what he should keep repeating.
What nobody says is that they all should be padlocked.
The entire industry is based on fiction. Money is created out of nothing by a few and as crazy as it sounds this money is assigned value and accepted by the many.
Central bankers are looked upon as benefactors whereas they are greedy leechs who have been given the authority to print cash. The feed this cash into the system to benefit themselves at the expense of everyone else. Directly by foreknowledge and outright purchasesof their junk and indirectly by the resulting inflation.
It is time to eliminate the entire crew. They are no longer necessary.
For this to be achieved the punt would be restored, the debts would be defaulted on, the budget would be balanced and the government would not be borrowing. We would not care in the least whether anyone would lend to us again.
The money supply would be stable and most of all there would be no inflation. This is covered elsewhere.
If there is no inflation there would be no need for interest on either deposits or loans.
At the moment any business decision is made with the expectation of inflation built into the calculations. Great until such time that deflation kicks in instead. This magnifies the bust just as inflation magnifies the boom.
What is needed is for the banks to return to the role of being a safe storage of money like it was before the goldsmiths realised they could issue more receipts than cash on hand.
Now the state could play that role.
Everyone could have a debit card with their balances at the state bank on it. Cash would circulate and be available at ATMs.
The credit based economy would cease as we know it.
A large purchase like a house would be sold with the seller acting as lender if he wanted the sale. This happens all the time here. The seller could ask for 330000 for his house. 30000 down and 300000 over 10 years say. The house itself would be collatoral. Alternatively he could sell the house for 300000 cash.
It would be a system built on honest money.
Houses would never have gone to the insane prices due to easy credit and the buyers would now not be underwater to the tune of a lifetime of work.
All the banks could just lock up and take a hike. They produce nothing so the next time you walk into a bank ask yourself who paid for everything you see.
This is the latest point in the Real Green Party Plan