BRIEF ON PUBLIC BANKING
Business Retail Union of Ireland
Ireland Incorporated, (Ireland Inc.) over the past 50 years, has increased its reliance on Foreign Direct Investments, (FDI). That, ever growing reliance on FDI, has been at the expense of everything Local and Irish. Ireland Inc’s EXTERNAL DEBTS have increased from $522bn in 2002, to $2.6trillion in 2018, (CEIC data). Allied to these extraordinary sums of ”debt”, is the FACT that Ireland Inc’s GDP figure for 2018, @ €300bn, is 44% off the GNI sum of €168bn, (Strategies data) with ”SERVICES” providing 60.2% of GDP, Industry, 38.6%, and agriculture 1.2%. Simply said, Ireland Inc, harbours approx. €132 bn of ”services” which contribute NOTHING to Gross National Income, absent any other explanation of the GDP figures, which GDP figures in 2015, were described as leprechaun figures. That €132 bn finally exposes for its real with, the IFSC, Ireland Inc’s ”offshore, uncontrolled entity. (The TZW 2018 report is relevant) At €205Bn and €168bn respectively, Irish Government debt, well exceeds 100% of Gross National Income.
The central Bank act of 1942 was rammed through the Dail with only 5 TDs present; this Act, presented to private interests, the CREDIT OF THE NATION AND THE BENEFITs THERE OF. Irish people, have, ever since, with ever increasing severity, been milked by a commercial banking industry, which in 2018/2019, totally dominates peoples’ lives making it next nigh impossible to make a simple living in this country.
BRUI is determined to correct the above ”reliance on FDI, by working to deliver a comprehensive network of community type banking across this island, to deliver banking services IN THE PUBLIC INTEREST, thus correcting the Central Bank Act of 1942, by putting the NATION’S CREDIT BACK INTO THE HANDS OF PEOPLE AND COMMUNITIES. These community type banks are designed as follows:
- Designed to operate ”not strictly for profit” .
- Designed to ”make business work”
- Designed to operate to the highest ethical standards in all its dealings.
- Designed to ADMINISTER peoples’ credit, primarily for the benefit of people, and not as a means of collateral collection and wealth extraction.
- Designed to create stability rather than boom bust cycles.
- Designed to prohibit speculation and securitisation.
- Designed to assist families and communities to develop self-sufficiency and personal wealth.
- Designed to support small businesses by providing mentored credit.
- Designed to support start-up businesses, and productive enterprises, as a top priority.
- Designed to keep local money/savings, local.
- Designed to operate on regionally bounded basis.
ISSUED BY BUSINESS RETAIL UNION OF IREL