If banking as it is, is all fraud, all for profit, all for private interests, then we still need public banks. In Germany only 12% of money is held by private banks. In Ireland 100% of banking facilities are private. The State wouldn't even use the Credit Unions where we had some savings relatively safe, or the Post Offices that could have been empowered to serve the community as banking services. What did the government do? Commissioned a report. The Indecent Report absolute rubbish, concluding that Ireland was very well serviced by banks and didn't need any more. Nowhere did it acknowledge that there is not one public bank and that means that no one's money is safe. And no one has any money and all money that is spent is spent on line further supporting international financial services and corporations and sucking all money out of the hands of the people, out of the country.
Both these guys talk about circulating the money properly.
Kevin Bridges "I've Got Mates Like Greece
My friend Richard C Cook of the Three Sages was prepared to help us.
Sparkassen Community Bank in Germany International Cooperative arm were prepared to help us.
But no, Pascal Donohoe and Leo, and the other grim reapers didn't even let a Dail debate happen, and the Green Party had it as the top discussion at a policy council meeting and at the last minute took it off the agenda altogether.
Can we pull it together now, in time to avoid the Central Bank Digital Currency chokehold? Surely!
Amendments to the Green Party Policy on Public Banking
Additional considerations, as developed by Frances Micklem in consultation with Green Party Finance Committee Members – September 2020
1. The deteriorating financial conditions in Ireland in connection with the pandemic, failure of private sector banks to serve Ireland’s entire population, including SMEs, and the accelerating worldwide climate crisis have created a true national emergency.
2. The creation of an entirely new public banking infrastructure is an urgent necessity that crosses all political party lines.
3. Public banking in Ireland should be viewed as a means for the nation to draw closer to the ideals and practical conditions prevailing in the EU, making consultation with the German Sparkassen system imperative.
4. BREXIT makes Great Britain an unreliable banking partner for Ireland, thereby making the creation of an indigenous public banking system even more imperative.
5. Public banking in Ireland should extend credit at the lowest possible interest rates, should operate on the basis of unsecured loans, should do everything possible to avoid seizure of peoples’ homes and businesses for default, and should do everything it can to create an atmosphere of customer-friendly banking.
6. Public banking should work to raise the general level of financial literacy for consumers and businesses and should create confidence in the ability of people to survive and prosper financially.
7. Public banking should become a key resource for the nation in extending the reach of family farming, family owned and operated business, local markets, community centres, affordable housing, vocational education, food self sufficiency, nutritional health, viability and prosperity of local markets, home based hand-made crafts and traditional industries, community ownership of soil and water resources, sustainable business and those in transition to organic or fair-trade certification and reduction of human generated waste.
8. Public banking should support the movement of the population out of congested city centres and create altogether more livable conditions in towns, villages and rural areas.
9. Public banking should support all movements, within Ireland and the EU, toward monetary policies based on a view of credit as a public utility and the urgent need to reduce national, communal and household debt.
10. The public banking system should resist and eliminate any actions, within its scope of influence, to elevate financial power over human needs in the buying, selling, and transfer of assets and property within the nation.
11. Public banks will operate as retail banks authorized to create money at a reserve ratio of 8:1 to 10:1.
12. Creative methods will be sought to increase deposits in public banks of funds available as reserves such as the deposit by entities of EU grant monies.
13. The public banking system will operate under local and regional authorities and be underwritten and regulated by the Central Bank of Ireland.
14. A nonpartisan committee should be formed immediately to coordinate participation by all political parties in the drafting of public banking legislation and the introduction of this legislation as soon as possible. The committee should be authorized to hold funds providing for a small professional staff.
15. The committee shall immediately launch a nationwide publicity campaign to explain the programme to the entire national population in order to garner political support for an early vote on legislation.
16. Implementation of the public banking programme will begin no later than January 1st, 2022.
17. Assistance during the legislative and implementation stages will be sought from Sparkassen of Germany.
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