Sovereign Independent

Irish Government To Auction National Assets: Criminal Stupidity Or National Sabotage?

By Gabriel Donohoe, 19th September 2010

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 it. 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 with renewed vigour and hope 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 whereas 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.


Because the banksters would not allow it. It would put them out of business. And we all know by now, after the 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 dynamic new political creatures who will actually work for the good of the people rather than the present crop of scavengers who luxuriate in the laps of the banks and big business. We must boot the incumbents out of office and we must decline to elect their drooling cousins in opposition who are piddling themselves with excitement at the prospect of taking their turn at the trough.

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 explore what other reformers are saying by reading their books and pamphlets and by visiting their websites. A good place to start is by reading the following books: “Web of Debt” by Ellen Brown, “The Grip of Death” by Michael Rowbotham, “The Creature From Jekyll Island” by G. Edward Griffin, and “The Lost Science of Money” by Stephen Zarlenga.

Forget about the highly propagandized mainstream media which is controlled by a handful of mega corporations and switch to alternative TV news channels like Russia Today (Sky 512), Al Jazeera (Sky 514), and The Controversial Channel (Sky 201). (The latter seems to have gone off the air recently. Perhaps it was too controversial for the powers that be.) These channels may not give you the whole truth either but at least you will have much more balance in news and current affairs.

You could visit and subscribe to internet news sites like Jim Corr, Alex Jones, Global Research, Dandelion Salad, Sovereign Independent, 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 exchanged and critiqued. The ideas posed in this article may be challenged, improved, expanded, adopted, rejected, or whatever. But what is clear is that we MUST instigate banking reform, total reform – not just tweaking the system here and there.

The idea of a National Bank should not be seen as the ultimate goal of monetary reform but as a stepping stone to achieve monetary justice and freedom. Banking is not a proper function of government; nevertheless, government intervention is required right now to clean up the mess that 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 ordeal 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 intended to continue with the U.S. Treasury issuing debt-free money, removing that power from private banks, but was assassinated only weeks into his second term. Who do you think was behind his murder?

Here is an amazing bankster inspired excerpt from an editorial in the London Times from 1865 which shows how terrified the banksters were of Lincoln and his ‘greenback’ policy.

“If this mischievous financial policy, which has its origin in North America, shall become endurated [sic] down to a fixture, then that Government will furnish its own money without cost. It will pay off debts and be without debt. It will have all the money necessary to carry on its commerce. It will become prosperous without precedent in the history of the world. The brains, and wealth of all countries will go to North America. That country must be destroyed or it will destroy every monarchy on the globe.”

An incredible revelation from the London Times!

Listen to what the banksters are telling us, albeit inadvertently. Look what total banking reform will do for us! Ireland – or any country – “can furnish its own money without cost…will pay off debts and be without debt…will have all the money necessary to carry on its commerce…will become prosperous without precedent in the history of the world.”

Who wouldn’t want that kind of prosperity and contentment for their children and their grand-children? It is there within our grasp at this very moment. Why don’t we go for it? Right now!

In the next article we’ll discuss how we can achieve Total Banking Reform, for the good of Ireland and for the good of humanity in general.

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Posted by Neil F on Sep 21 2010. Filed under Irish/Uk News, News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

12 Comments for “Irish Government To Auction National Assets: Criminal Stupidity Or National Sabotage?”

  1. Golden Opportunity.

    I hope and pray that a great many Irish people will read this particular article, and act on it in useful ways.

    I actually believe the potential for a healthy financial recovery for the Republic of Ireland (and all of the social benefits which would go with it for both present and future generations) are even better than described in this article: if our oil and natural gas resources are taken into account, which have been estimated at 5.4 trillion Euros.

    I further believe that the great financial and social problems we have been saddled with as a Nation, also provide us with equally great opportunities for our Nation: if a large enough number of our individual citizens educate them themselves sufficiently well about the wonderful opportunities in question, and then make the right personal choices to ensure that — collectively (i.e. as a team) — we can achieve them.

    Last April I sent an e-mail to Prime Minister Brian Cowen (and several dozen of his TD colleagues) on this general subject, which I titled “Golden Opportunity”.

    For anybody interested, a copy of the e-mail in question can be viewed at the following location:

  2. Pathocracy Paddy

    The nonsensical Celtic Tiger slogan was used to prepare Ireland as a fatted calf for slaughter. There’s no choice but for the entire country to enter into

    See video: Christopher Story – EU Corruption
    Christopher Story supposedly died of “natural causes” we are told.

  3. Kevin Cox

    Gabriel Donohue is to be congratulated on this article.

    It is bizarre that a government should sell assets to raise money. It can issue loans through its own bank at low or zero interest, backed by those same assets. It can give loans to itself for infrastructure or for businesses to build assets. People – including its own treasury will have to agree to move all their other banking business to the state bank. The only thing to ensure is that the loan money is spent on productive job making investments.

  4. Gabriel Donohue:
    Great article….I’ll ditto Kevin Cox’s comment.
    david snieckus

  5. Jim Bob

    The Jews will never let you get away with doing this. If you try, they will convince the US to bomb you into submission.

  6. The task is for the “sheeple” to become the “people”
    Then, and only then, would a public bank be used for its intended purpose.

  7. joey

    Great piece and an eye opener to anyone who is seeking the truth of this corrupt criminal government. I have always seen this and previous governemnts as dominering “do as I say and not as I do or what you ask us to do” is the man in charge at the moment not the old minster for finance who caused all this and the little stuttery clown who is reaping the rewards who was in charge back then who appears on tv laughing while the media lick the arse off him instead of questioning him on his part in all this and bring him to justice for treason ?? I find this insane that that not one Garda has approached him or any of them in office at the moment and do what they seem to be doing to people who are in debt and can’t pay or who owe fines for silly things….bring them to court and if the answers are not what we the people find to be the truth in front of a jury, lock them up for treason and then clear FF out of this country for good along with all the other parties, after all they stood by and watched, ate and drank with these and done nothing all the while lying to the people telling them to spend spend spend. We need revolution and fast if we are to be free again and use this as an example for future generations….

  8. [...] and women will now find its way into the bulging pockets of the banksters and the corporatists. Irish Government To Auction National Assets: Criminal Stupidity Or National Sabotage? | Sovereign In… sounds a little like the UN making International Protected Lands out of all our own countries' [...]

  9. [...] 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. Read more… [...]

  10. Several Irish politicians and lawyers, plus a number of people connected with the main stream media, have been informed about this article during the past few days.

    It has also been referred to in an Open News publication.

    Details of these actions are available via the following link:

  11. From :
    by Tyler Durden on 10/04/2010
    This weekend’s chief financial tragicomedy was without doubt the busted conference call conducted by Citi, in which Ireland finance minister Brian Lenihan ended being heckled openly by a roster of about 200 people, who were a little late in realizing that the operator had forgotten to mute all their lines. This was described previously in painful detail by the Telegraph. And while Ireland is still refusing to acknowledge that anything out of the ordinary happened, and Citi has most certainly deleted any copies of the first part of the conference call, the second part of the call was obtained by Zero Hedge. What is obvious from the call is the extreme sensitivity the operators and organizers have toward any open line, while proffering extreme apologies for the confusion that was prevalent on Part 1 of the call, which apparently lasted for 45 minutes (the entire call ended up being one hour thirty minutes, after it was supposed to be half that duration). Furthermore, if as Ireland claims none of the alleged shenanigans occurred, then why is the first thing uttered by the moderator his “profound apologies for the foul up that the conference provider has had earlier.” As for the call itself, we fail to see how someone who claims there is no local deposit drain (like in Greece) due to “Ireland being an island” and thus making deposit evacuation difficult, is supposed to calm investors and result in tightening spreads. Although, as we disclosed earlier, the ECB’s €1.4 billion in sovereign bond purchases last week, successfully unraveled that particular mystery as well. For all this, and much more, as well as a rather amusing Q&A, the link to the entire call is attached below. (AUDIO LINK)

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