What is truth?

Archive for February, 2009

Gardaí to investigate Anglo and about time too!!


 Gardai called in to investigate  Anglo Irish Bank .
The  board of the regulator  should now resign . The public have lost confidence in it !!!!  Having being involved in a number of investigations in relation to the bank, it was now necessary to call in the Gardai.  What did they find ??  after almost 5 months you would have thought that all incriminating evidence would have disappeared by now  !Why did it take so long for them to take this action ? Who were they protecting ? Perhaps their political Masters or should I say their Co Conspirators !!!. Why was  this not done with the Irish permanent  as well?? .I am calling on the Boards of Anglo Irish Bank and Irish Life &Permanent to resign . The CAB should be called in to fully investigate these Fraudulent Bank transactions that went on at the Irish Life &Permanent

What about the other Banks like Allied Irish Bank and Bank of Ireland ???

I believe its time to allow the Office of Director of Corporate Enforcement to take over all of these investigations along with the Garda Bureau of Fraud Investigation .

Meanwhile, I hear that searches of Anglo Irish Bank’s headquarters by officers from the Garda Bureau of Fraud Investigation and officials from the Office of Director of Corporate Enforcement were continuing  this night .



This crisis is no accident it was premeditated and internationally agreed.

This article was posted to me to-day by colleague  !

it is an excellent explanation of the current state of affairs in the international financial  markets and does NOT excuse the current Government of their handling of the unique problems within Ireland.

In an attempt to comprehend the current “credit crisis” I decided to try to investigate its underlying causes. To my dismay I discovered that the situation did not come about by accident but was actually conceived and planned by the International Banking Fraternity in Basel, Switzerland, in 1998.


The tsunami of credit that burst onto the scene after this “Basel Accord” tried to save America from a recession, enabled it to fund a war, sleep walked Europeans, politically, into the Euro Zone, and attempted to nurse-maid the virgin state called the European Union. This crisis is no accident it was premeditated and internationally agreed.


If you don’t believe the pre-meditation involved please read the quote below from the Wall Street Journal, Nov. 27th.  2007:


In 1998 the Basel Accord created the opportunity for regulatory arbitrage whereby banks could shift loans off their balance sheets. A new capital discipline that was designed to “improve” risk management led to a PARALLEL BANKING SYSTEM whose lack of transparency explains how the market started to seize up.


The “originate-to-distribute” model REDUCED THE INCENTIVE for banks to monitor the CREDIT QUALITY of the loans they pumped into collateralized-

loan-obligations and other structured vehicles, the rules failed to highlight contingent credit risk……”


American history has shown that many of its great leaders saw the danger in granting banking institutions too much power over the destiny of a nation. The Basel I Accord indicates just how fundamentally the International Banking Groups have lost their moral compass and altered old standard banking rules. Through sleight of hand i.e. “off balance sheet accounting” they allowed the financial structure of the world to become totally unstable and risk prone. National based central banks participated in this fraud by failing to “beef up” local regulatory supervision. If one was cynical one would actually come to believe that in 1998 future failure was built into the matrix; failure which only the strongest and the most astute institutions could survive. 


The end result will be systematic institutional deflation on a worldwide basis. Even though cash is being pumped into the major banks the multiples of “off balance sheet” credit are now historic, thus the corporate inflation has already occurred. What we will now experience going forward is dept collapse and with it falling mortgage issuance and restrictive commercial funding. Here in Ireland business activity has almost come to a standstill and everybody is holding their breath wondering what the next crisis will be. The only saving grace is that things are not much better in Italy, Germany, France or Spain and is actually much worse in Scotland, (where the bank of Scotland failed) England and Greece. This crisis is truly global.


As institutional deflation (due to collapsing systematic credit) and social inflation (due to the panic demand and circulation of currency) spreads around the globe those who are left holding excess negotiable resources will be in a very powerful position to soak up value assets for pennies on the dollar. Regular folk will not be able to participate in this bonanza because for them the banking credit system will be closed with nothing to offer but foreclosure and frustration. The majority will in a defensive survival mode while the privileged few will be in full scale acquisitive attack. Such was the case in the last depression. How history is repeating itself. Those who instigated the “off balance sheet” travesty knew exactly what they were doing. My advice is if you cannot beat them join them. Friends go to cash and the physical money metals as soon as you can. Contract your business and life-style expenses. Network and co-operate within a real community for the exchange of goods and services that sustain authentic life. Before things get really bad become educated and aware. Form city and town based money circles based on the teachings of E.C. Riegel and learn how to issue community based, bearer-negotiable, split-barter, exchangeinstruments of agreed value; otherwise known as money. (Most people do not fully understand that money, in essence, is a social contract based on human trust and mutual benefit). This “crisis event” is going to get much worse before it gets better folks. There will be short periods of reprieve but the reality of the problem is so serious and fundamental that it will take years, maybe decades (as in Japan), to work through, even with a “nationalization” type solution. But perhaps it is true that “every cloud has a silver lining” and that “every problem bears within it the seeds of a greater opportunity”. Maybe finally after ninety five years the good people of the United States and the world will awake from their media induced trance and realise that too much power was usurped by an elite on the 22nd. December 1913 when the Federal Reserve was set up. Maybe it is time the international central bank, the International Bank for Settlements in Basel, was abolished and regular citizens took back their financial destiny.


Peaceful, proactive and constructive community must reassert its primacy over immoral, selfish and destructive internationalism. For patriotic Irish men and Irish women it appears that the time has come once again when they must save their country for the greater good. The selfish, the vainglorious and the criminally incompetent must be stood down.






Published Web Essay September 2008:

Financial Sense Online: USA

Market Oracle. Co: UK


News Flash!!


 My Call in the CAB now Campaign


I have just heard that the CAB have raided the offices of  Anglo Irish Bank

at long last the Government seem to listening to the people !

Having spent a few days last week  outside the  Dáil Éireann demanding this course of action  ,there is a certain satisfaction hearing this is now underway !


More to come soon


First past the Post !!

Just received this responce from Liz McManus, T.D.                                                 liz.mcmanus@oireachtas.ie 
(2 hours ago)

I must give her credit she is on the ball !! Thank you  Liz!!


Dear Mr. Clarke

Thank you for your email. It is very comprehensive and, in my view, focusses on the central issues that we confront as a nation – I am very sorry to hear of your circumstances.  For someone who has clearly worked hard and acted responsibly it is appalling that you now are unemployed.

The Government has an obligation to deliver a clear and urgent strategy to tackle unemployment, to clean up the banks, and to make those who can afford it most to contribute most to our recovery.  I attch the Labour Party plan for bank reform and also the speech made last Saturday by our Leader, Eamon Gilmore.  If you would like to know more on our policies or wish to join the Labour Party please log on to our website – www.labour.ie

With kind regards,
Liz McManus, T.D.
Spokesperson on Communications, Energy and Natural Resources


Thomas Clarke <thomasclarke3@gmail.com>
23/02/2009 12:23 To”liz.mcmanus@oireachtas.ie” <liz.mcmanus@oireachtas.ie>
SubjectWhat about this ??? Keep asking the right questions !!

Resignations ,But who,s ???

I   hear  this morning that Mr Enda Kenny ,

is now calling for the resignations of the board of the Financial regulator .At Last but please don’t stop there !!!!!

I pointed this out in a letter to him this morning !!

Dear Mr Enda Kenny,
At last, you are speaking in the language of the ordinary Man in the street I here over the radio that you are calling for the resignations of all the board of the Financial regulation and you are looking for a cap of 250,000:00 euro for bank directors
This is what we the public are waiting to here,!!!
May I suggest that you also call upon for the resignations of the Board of IL&Permanent  and particular the Government appointed members who thought that there was nothing wrong with the previous Charmain and indeed gave him their support days before he was forced to resign !
I would also call upon you to call for the resignation of Mr Dick Spring  ,Government appointed Director of the AIB Bank .As a one time Eircom share holder this man (“short of a few bob”) doesn’t inspire confidence  with his track record !!
These Government appointee Directorships were not envisaged as “Jobs for the Boys”,
But rather qualified financial seasoned experts and have a sound financial and business background and an unquestionable  loyalty to the general public,s interest and Not their own pockets !!
This is an open letter and is posted elsewhere
Your response will be published in our New local community portal at www.netzoners.com 
and on my Blog at www.machholz.wordpress.com
From time to time I also post videos on you tube as well as netzoners.com
Yours sincerely
Mr Thomas Clarke
10 Heatherbrook
Marlton road
Wicklow Town
Mobile 0830048350
Have not received any response from any of the Wicklow TD,s  to my letter to then Yesterday










Call For Action !!


I sent an e-mail to all 5 TD,s from Wicklow ,

it will be interesting to see if  I will get  a response

Just for the record I am calling on all the unemployed in wicklow to organize themselves into action groups and force the local politicians to get New Job training and up-skilling measures immediately , to meet the new demand that is now becoming more apparent

The Job seekers ranks are growing every day and there is a need for new ideas and the pool of the unemployed is not going to just stay quite !

we will get organized and will appear at the doors of the local politicians and lenster house demanding that they put in place a stimulus packet to help bring employment back into our County .

 For us in our 40 and 50 we want to be trained in new  skills and get back into education without delay ,That means NOW

It is Not good enough to be told that you  MIGHT  get palace on a Fas course in a year or so



Thomas Clarke


for those of you who want to I have compiled with the help of my kids a short video for you to view

click on the  Banks and their Political Friends link on the right hand side of this page

Ireland’s Banking Crisis Is a Crisis of Confidence in Political and Economic Leadership!



* Why did the Financial Regulator and the Central Bank allow rampant fraud in the system? Permit Irish external debt rise to 1.841 Trillion Dollars (that’s trillion with a “T”. Source: the CIA world handbook).

* The problem cannot be solved unless it is correctly analyzed. The main issues which need to be address are:

1. The Irish banks are insolvent due to their exposure to the Irish and English commercial and residential property collapse.

The real estate loss they are “holding” is close to 500 billion Euros. This exposure has been guaranteed by the Irish State and will not be mitigated by small once off “recapitalizations”. This situation demands a total solution not a piecemeal deferral.

2. Irish banks, like their counterparts in the rest of the world, has billions of capital exposure to derivatives and credit-default-swaps. This problem should be addressed. Until we do so we have not come to grips with the real scale of the disaster.

3. The culture of corruption in the Irish banking and regulatory framework must be exposed. Criminal prosecutions must be forthcoming in order for the Irish financial community to receive any international credibility going forward.

We the People   are being called upon again to save the country

Once again ordinary people with a patriotic sense

Of duty must come forward and help save the Republic for the sake of their children and their children’s children.

The Politicians who are in power and are in receipt of huge salaries have proven not to be up to the task .despite their years of so called public service they have shown that there have no qualifications what so ever, to hold down the very well paid jobs and perks they have enjoyed all their political careers

For me these people have being feeding off  the people of Ireland, enriching themselves and their cronies. Hopefully the ordinary people will at last wake up to this fact and hand all theses Leaches their P45

 In a spirit of peace and because of our well founded concerns, we ask you to help us to bring about

a solution to this terrible crisis. If ordinary citizens

Do not act, we fear the corrupt incumbents in office, will move only in their own interest and burden the country with decades of debt and financial slavery.


Take action! Act now! Get involved now!!

Post your comments here

Let’s get organized and take back our wonderful country!










Dole queues are back!!


I Am 53 year old, Married and have two children aged 10 and 13 yrs
I have lost 95% of my pension through the reckless gambling of the managed fund managers employed and owned by the banks
 I have lost 97% of my shares that the stockbrokers recommended to me and are owned by the banks
I have paid my taxes all my life and now at 53 I do not have the qualifications to get a look in at any job offers
I here civil servants crying that they must now pay 7.5% for a guaranteed pension
Having paid into a private pension fund for the last 22 years I have to-day got a balance for the current value and I might as well not have paid into this pension for the last 17 years things are so bad now that all my dividends have vanished and I now have No income
I resent the attempts of various Politicians   Bankers their spin doctors and hangers one of the ruling party to push the blame on me and everybody else I did not have any input on where my pension moneys were invested and as for my shares in Bank stock these professional brokers are being well paid to know their profession .This is why they get huge bones every year!!!  
I knew two years ago that things were going to fall apart with regards to the banking system when you see the Banks selling their own Branch’s and HQ,s you know that they know something
I do not accept that the Government did not know this was on the way everybody knows that all business comes in   cycles and it was clear to me and I don’t have any professional qualifications in financial matters
The current Taoiseach cannot now expect to get off Scot free as he was in charge of the country’s finances and now as Taoiseach having doddered for the last 6 months has overseen the collapse of confidence in the banking system
He and his Government are Leaches living off the ordinary people like myself
for the first time in my life I went down to the employment exchange and was promptly  told that I was Not entitled to anything as I have being self employed for the past few years and I have too  much money in my bank account
(In 6 months I will be broke, at the rate our bill’s keeps coming in!)
I went there to find out how I could retrain and was told that I would first have to be registered unemployed for 6 months in order to be eligible to get on to a course in the first place 
Even then there is no way of knowing if I would get a place on a course (maybe because of my age)
Now I would gladly take up any job that would pay me 200 euro plus
As things are right now I would have No Hesitation in taking up arms to get rid of this Government and bring these leaches in the Dial and their Bank Board buddies to quick Justice
They are overpaid and are out for themselves, they have no idea what ordinary people outside their social circle are trying to cope with!
With No resignations either from these corrupt politicians and Bank directors, the ordinary people will have to take matters into their own hands!!!
Our Taoiseach should take a leaf out of the American president’s book and dictate to the Bank directors that no salaries should be paid over 350.000.00 euro Full stop!!
All Dial deputies should take an immediate  salary cut of  50%  and no expenses should be paid out until a revenue audit is complete at the end of each year  .that is to say that every dial deputy’s must have a revenue audit every year .With the same vigor as the general public have to put up with
No payments without proper receipts and any false clams should be met with immediate expulsion from the dial, thus creating an immediate local election but the expelled deputy should not be eligible to contest the election!!
With regards to the Taoiseach’s talk to the fateful this week ,  these people were the well healed and not represent of the ordain people the spin doctors will have us believe that we now will have a leader that will get things done  I will not fall for this crap anymore
I now call on all likeminded people to organize now and take action against the vested interests and let’s bring them to account
These people are guilty of treason they have destroyed this country and should not get away with it
the way I see it ,I have nothing to lose now I, have already lost most of  my life’s savings , it would be great to get these crooks  responsible to pay for their treachery !!
These views are by no means rare as all of my business associates have the same feelings and some even more radical than myself .We come from a variety of backgrounds such as Hotel management ,Tourist area, IT, Law, and service industries
There is real anger out there and it won’t take much to light that spark now !!!! 
Here are some of my proposals
                      All  TD,s to take a 50% deduction on their salaries
                     No  expenses to be paid out without revenue approved recipes
                      All   TD,s to get a revenue audit every year
                   No   TD to stay longer in the Dial over two terms (years)
                      No public representatives to receive a pension before the age of 65
                      Public representatives to receive one pension only, regardless of how many public offices they have held
                     All public companies that have need of Directors must be drawn from a national lottery of all the public’s  RSI numbers  and a term limit of 8 years to be mandatory
                      All  Bank Directors salaries to be capped at 350 K
                      No Bonus to be paid to any bank officials as long as there are no premiums being paid to ordinary  shareholders
                  A criminal investigation to be carried out on the collapse of Anglo Irish Bank
                  All  Director loans to be made public  from each of the Banks in receipt of public finance
                  All  Banks operating within the state must change the comply with a new rule that gives the ordinary share holder the voting right to veto any bonus to top bank officials
                  No  Directors loans to be granted without a EGM of ordinary shareholders
                  And a minimum of 75% must vote for such loans
                  All outstanding loans must be vigorously collected from the directors of the Anglo Irish Bank
                  A new entity to be set up to help house owners to keep their homes by way of a shared ownership based on the then current market value the house owner will become partner with this Government entity over the term of the mortgage upon the end of the term a balance will be drawn up and upon the sale the proceeds will be divided between the house owner and this entity all house owners will be obliged to take out an insurance in case of a shortfall such payments will be bought through the Government to ensure that the system will not be abused
                  All  those who are seeking work , will be able to access a course within 6 weeks of  their  application for up-skilling if the course is not available they will have the option of two other courses, failing to take up a course within 5 months of receiving dole payments a appellant must take a course that is offered to them.  


                   If  you cannot find a job ,and you are over the age of 50 you should be able to go back to college and receive a

                      payment equal to the dole ,This would be a counter measure to the rampant ageism that is currently out there
Thomas Clarke


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