The Sovereign Irish people issue their own currency interest free.
An Understanding of Banking and a solution.
Several thousand years ago money as such did not exist, barter was the only means of doing business, this was a haphazard way of doing business, if one party did not have what the other wanted a trade did not take place. Moving on someone came up with the plan to use a valued metal such as gold as a means of exchange. This was a better means of doing business and trade began to flourish over time. There were however two problems, gold was heavy if carried in any kind of amount and there was a problem with robbery. So the goldsmith who minted the coins offered to store them in his safe for security and issue receipts in lieu of them. This system was successful beyond the goldsmiths wildest dreams. The gold in the goldsmith’s safe was hardly ever moved save for some 10 % which typically moved year in and out. It occurred to the goldsmith that he could issue receipts not backed by gold and he would be paid back principal and interest and no one would be the wiser, he was not too greedy at first but through the years and human nature being what it is his successors began to ‘loan’ ever growing amounts of receipts not backed by anything. Time went by and the goldsmith’s business became banking and the receipts became currency, the amount of gold backing the currency became less and less and so we are faced with the situation today where most paper based currency are not backed by gold. This is termed a fiat currency.
When a person wants to get a mortgage for a house for example they must comply with a bank’s requirements of being able to pay the loan back etc. The person signs the mortgage documents this brings the loan into existence by being willing to work for 20 to 30 years of labour to pay back the money which is given value by their labour. This ‘money’ was printed off by the central bank it is backed by nothing but the labour of the people who will
make the repayments.
Banks are also ‘allowed’ to practice fractional reserve banking which means they will be loaned ‘money’ by a central bank, this money will be used for mortgages etc. The bank is typically allowed to multiply this money by a factor of 9 times if the fractional reserve is 9:1, this may be at 20:1 now.Currently we are now faced with what is a depression and banks are seeking to take control of houses. A person may ask a bank for an invoice for the
amount of ‘money’ the bank lost through the loan not being paid back, but of course the bank was not at a loss at all as the money was printed off.
Playing devil’s advocate for a moment it might be argued that the customer
got the loan to buy the house, they paid the house owner for the house, took
possession of it and surely there is a duty to pay the loan or vacate the
house. On the surface that would appear to be the case but as mentioned the
Central Bank produced the money from nothing so there was no loss to the
bank therefore they cannot reclaim the house.
Another important point about the central banks of the world is that 95 %
are privately owned contrary to popular opinion, the Irish central bank act
was passed in 1942 while Sean T O’ Kelly was minister for finance. The bill
was passed when only a few members of the Dail were present. The setting up of the Federal Reserve – the US central bank happened in 1913 when there were only a few members of congress present – it was Christmas time. So basically the money is produced out of thin air and ‘loaned’ to people and the people’s labour is what gives it value, these loans are repaid to the central bank – principal plus interest. As mentioned 95 % of the central banks of the world are hybrids having the outward appearance of being public entities but are actually privately owned. Usually the person at the top of the pyramid at the central bank knows of the scam, he needs to in order to fulfill the deception. The owners of the central banks are the international banksters the Rothchilds, the Rockefellers, Kuhn & Loeb, Lazard brothers the Warburgs, the Oppenheimers etc.
The interest payment on the loans given by the central banks are paid for
by the people’s income tax.Because all currency (principal) is loaned by the Central Bank and must be repaid principal plus interest there is always a shortfall. This leads to
business closures and inflation.So to sumarise – A private company masquerading as the Central Bank of Ireland prints and ‘lends’ a piece of paper not backed by anything eg with € 50 written on it and is paid back €50 plus interest made into real money by the Irish people’s labour.
The €50 is deleted / burned / extinguished and the interest is paid to the international banksters ie the people’s income tax.This system is fraudulent and is approaching collapse. A new system is called for which would let the Irish banks and bondholders take the loss and for the Sovereign Irish people to issue their own currency, this could be done without the charge of interest.
A typical mortgage of €150,000 would be repaid as € 150,000 plus a nominal processing fee. There would be no inflation and no interest (no usury) with this new system. By gaining control of the monetary system the sovereign and lawful people of Ireland can get control of other areas of influence which have for many years been under the control of an evil and maniacal cabal such as the political, media, pharmaceutical, judicial, energy & military/industrial complex. All these groups operate on a pyramidal structure which the people at the top control.
Apparently a fund does exist for the new monetary system although I cannot confirm its existence. The Collateral Accounts (OITC) are the gold & silver that will fund the new world currencies when the current one fails which is looking ever more likely as each day passes.
http://irishliberty.wordpress.com/2009/08/16/fractional-reserve-ban Dail proceedings regarding setting up the central bank in Ireland.
The Money Masters video by Bill Still
The Creature from Jekyll Island book by G Edward Griffin
Blank of Ireland ebook by Darrell O Dea
Public talks given by Jim Corr on the Late Late Show etc.
Interview between David Sale of the OITC and Rayelan Allan discussing the
Collateral Accounts on rumourmillnews.com on 7th , 12th April and 10th May 2011. 9 hours of interviews in all, suggest sign up for 1 month and
download interviews. This is a nuts and bolts explanation of the Collateral
Aaron Russo’s – From Freedom to Fascism – video
Confessions of an Economic Hitman video – John Perkins
http://foolscrow.wordpress.com/ Gabriel Donahue’s blog.
http://freemanireland.ning.com/ Tir na Saor, Kev Flanagan’s site
Brian of the family Whelan Feb 2012