http://www.henrymakow.com/ireland_the_revolt_has_started.htmlIreland -- The Revolt has Started!
by Irish Dan
Irish Dan is a former Sinn Fein activist and National Exectuive member, involved in the Irish Revolutionary Movement from 1969 up to recent
Part one, general background.
Ireland is burst, broke, finished, kaput! This story has dominatied the World Media for over two years and has reached a deafening crescendo in recent days. Like most of what we read in the media ,it is lies, disinformation and propaganda. The facts are far different!
Ireland as such was not broke, our runaway squander mania banks were! The international financial markets are attempting to get the Irish Taxpayer to foot the bill.
I have never seen Irish people from all walks of society so totally fustrated, annoyed and disquieted. http://www.irishcentral.com/news/Over-50000-protest-on-Dublins-streets-110903879.html
Now all of that is giving way to raw anger and a grim determination to get this shower of inept politicians out at all cost. As a people we are collectively better than this and we know it !
Fianna Fail have been in power with the exception of a few brief interludes for eighty years. They have doled out appointments from school janitors to Superior Courts Justices in public life and and awarded contracts to the butcher, the baker and the candlestick maker, provided they help fund the party of course.
FF rewarded supporters by stuffing public service supervisory boards with cronies, all was a 'brown envelope stuffed with cash, no questions asked' culture. Few of these supervisory boards did their job and the party individuals did what the party wanted, hence the current stymied, nonfunctioning, unaccountable mess. The banks were but the most blatant example of this rampant corrupt cronyism.
Part two, Ireland the real financial and other productive situation.
We are a population of around four and a half million people...... http://en.wikipedia.org/wiki/Ireland
...... in the Irish Republic. We have a pension fund of seventeen billion euros invested and untouched. That was always ring fenced, earnings from that could comfortabley service around four hundred and seventy thousand pensioners, (Central Statics Office )...... http://www.cso.ie/Quicktables
Our head of Government is still paying himself over twice President Obama's salary and our Parliamentarians in this country of four and a half million are still paid well ahead of the US. Congress and Senate members.
There was a very smug financial round robin at work here for decades,. The politicians did not actually award themselves high wages, goodness no,. The politicians pay rates were pro rata to Senior Civil Servant rates of pay. Guess who set the civil servants rates of pay ?
We are getting 10 billion which the European Central Bank deems sufficient to re capitalize our banks for the whole Irish lending economy Irish cash flow. Irish nationals have one hundred and ninety billion invested in foreign assets at this time.
Domestic savings now stand at 12.3%. Inward investment for real assets and industry remains strong. Industrial cost are down 7% and still falling. Industrial output is up 12% on two years back and this year like as not 16 % up on last year. Our balance of payments are actually moving to surplus, tax revenue is on target month on month for most of this year. Ireland had around eight months funds still in reserves to run the country before going to the markets in late Spring or early summer of 2011 to sell more government bonds and refinance.
Do this look like the Ireland you have been reading about ?
Part three: Banks, bondholders and bullshit !
If Ireland was in a relatively good situation then why all the International badmouthing, market rumors and undermining of Irelands position ? In a word Bondholders !
They risked their capital in a building and property bubble that they knew was little more than a ponzi scheme. They did so as they knew that when the bubble burst they had enough financial clout to force Ireland to guarantee their bonds,.This is where the media disinformation and distortion of real situation came from.
So who are these primary bond holders that the Irish Taxpayers and Unemployed workers are now bailing out ? One such outfit is Millhouse. The owner is Roman Abramovich,......http://www.bbc.co.uk/bbcfour/documentaries/profile/abramovich.shtml
..... he owns Chelsea football club in England and he is Russia's fourth richest man ! In 2005 he was one top fifty wealthiest people in the world.
Hardly surprising then that the New York Times found the idea preposterous and stupid beyond the power of words to describe. http://www.irishcentral.com/news/Irelands-bailout-is-Worse-than-a-Crime-says-NY-Times-columnist-110850374.html