Who Owns The Central Bank of Ireland?

They themselves say the Irish Minister for Finance owns the single share.

by Gabriel Donohoe
(edited and amended by Editor of News-Beacon-Ireland)

contributed by the author

____________________________________________________

Number 22 of 1942.

CENTRAL BANK ACT, 1942.

AN ACT TO ESTABLISH A BANK TO BE THE PRINCIPAL CURRENCY AUTHORITY IN THE STATE, TO DISSOLVE THE CURRENCY COMMISSION AND TRANSFER ITS POWERS AND DUTIES (WITH CERTAIN MODIFICATIONS) TO THE SAID BANK, TO CONFER ON THE SAID BANK DIVERS OTHER POWERS AND DUTIES, AND TO PROVIDE FOR OTHER MATTERS CONNECTED WITH BANKING, CURRENCY, COINAGE, AND THE MATTERS AFORE SAID AND IN PARTICULAR FOR THE GRADUAL EXTINCTION OF CONSOLIDATED BANK NOTES. [4th November, 1942.]

_________________________________________________________

In a letter  published in the Irish Examiner on April 11 2014 Barry Fitzgerald wrote (emphasis added by News-Beacon-Ireland editor):

Truth and transparency gets an outing

Nama  (National Asset Management Agency, created in Dec. 2009 to take over the “bad” loans of the main banks in Ireland after the the government issued the unconditional bank guarantee- inserted by editor) are taking a court case to try and prove they are not liable to provide Freedom of Information as they are not a public body. Amazingly, this may be the first bit of truth and transparency we have had in Ireland for quite a while.

After all, how can one explain that courts in Ireland, every department of the State, every ministry, the Central Bank, the houses of the Oireachtas, the office of An Taoiseach, the office of President, garda stations, Revenue Commissioners, etc are all listed as companies on dunandbradstreet.com. This is a financial reporting portal listing all of the above and much more within Ireland as being ‘companies’.

Who owns these companies? Is it us, as members of the public, or could it be a third party private entity? If all of the above are true public bodies then surely their accounting should all be performed at central level within Ireland and not be listed as independent companies on websites?

On July 17, 1942, in Dáil Éireann with only five deputies in the chamber, the final of five debates on the introduction of the Central Bank played out. Seán T O’Kelly as Minister for Finance, who guided the motion through the chamber, revealed that the owner of the credit issued by the Central Bank of Ireland should be the private property of the joint stock banker and not the property of the people of Ireland.

Could it be construed that the people assumed full liability while private hands assumed the profits? If the Minister is the sole shareholder in the Irish Central Bank, which again we are assured is the case, but said Minister is listed as a company, is that enough to suspect the Irish Central Bank is in fact a private for-profit company that masquerades as a public entity?

Who Owns The Central Bank of Ireland?

They themselves say the Irish Minister for Finance owns the single share. Further to Barry Fitzgerald’s excellent April 11 letter to The Examiner (see above), here is some very interesting stuff going back to 1942.

During the convenient distraction of World War 2, the House of Rothschild (via Ireland’s 8 joint stock banks) gained control of our new Central Bank with the enactment of the Central Bank Bill of 1942. (Came into force on Feb 1, 1943.) In a stroke of both greed & genius, the joint stock banks would own the credit (profits) of the Central Bank while the people would own the liabilities. (Ring a bell? Bank of England, Federal Reserve, ECB, etc.) (Additonal reading recommended regarding the Federal Reserve Bank of the USA – http://www.globalresearch.ca/who-owns-the-federal-reserve/10489 by Ellen Brown – added by editor)

One dogged voice in the 5th Stage debate of the Bill was that of a Deputy Dillon. I assume this was James Matthew Dillon who was expelled from Fine Gael in 1942. Whichever Dillon he was, this man showed a lot of guts and integrity and a good knowledge of how ‘credit’ was created.

Dillon constantly questioned the Oireachtas as to why the private joint stock banks of Ireland should own the nation’s credit while the people were stuck with the liabilities. He forthrightly claimed the Central Bank’s credit on behalf of the Irish people. Dillon was a real hero; you don’t see the likes of him in the Oireachtas today. All we have now are the milquetoasts which infest every party and most of the Independents.

The 5th Stage of the Bill took place on 17th July 1942. Below you’ll find a link to the full discussion. It’s quite long but makes for fascinating reading; and it’s VERY relevant today. And I’ve added a few excerpts of Dillon’s, to wet your appetite.

By the way, the Central Bank of Ireland is a member of the Bank for International Settlements (BIS) which was set up in 1930 by Hitler’s Finance Minister, Hjalmar Schacht, along with France, U.K., U.S.A., and others. During the War, the Americans and British colluded with the Nazis to keep the BIS running. The BIS was, and is, guilty of many crimes such as laundering Nazi plunder from all over Europe, including a great amount of valuables stolen from those incarcerated or murdered in the Nazi concentration camps.

The BIS was NEVER punished for its crimes. It still operates today as if it were never guilty of any heinous crimes. The BIS is firmly under the control of the Rothschilds and other criminally powerful families and in all actuality makes all the rules by which the world is economically governed. The Governor of the Irish Central Bank, Patrick Honohan, trots off to the BIS in Basel every couple of months to receive instructions on how to further plunder & loot the Irish people.

Link to: http://historical-debates.oireachtas.ie/D/0088/D.0088.194207170014.html

Random Dillon Quotes:

Mr. Dillon: I am talking about credit money and I want to demonstrate what credit money is. I say that it is the very heart and soul of the Bill— where the ownership of that credit money lies. I say that the Bill places that ownership with the joint stock bankers. I contend that it is our property and surely I am entitled to claim that it is? On what other Stage can I deal with it. I am saying that what is in the Bill is the allegation that that money belongs to the bank. I am claiming it now for myself and my fellow-citizens. Is that not in order?

*******

Mr. Dillon: Why does the Chair desire to restrict my liberty in this discussion? Surely this is the place to determine whether there is a valuable asset in existence, and if there is, to whom it belongs. I am stating that this Bill is evidential of the fact that the Government knows of the existence of this invaluable asset, and admits the proprietorship of the joint stock banks, and, acting on that assumption, legislates for a central bank. My submission is that that is wrong, that that property is ours, and that legislation should be based on the assumption that the property belongs to us. It is all very well to say: “You must not say so.” Why should I not? I am the elected representative of 8,000 people. Is it simply because my voice is a single voice that it is condemned to be silent? If the Fine Gael Party or the Labour Party want to say something——

*******

Mr. Dillon: I am out to prove now (1) that credit money exists; and (2) that that credit money belongs to us and not to the joint stock banks, and that we and not the board of directors of the joint stock banks should be the authority to determine what is to be done with that asset.

You can read the full debate leading to the creation of the Irish Central Bank and the removal of the power to issue the Irish currency from the parliament by clicking on this link

http://historical-debates.oireachtas.ie/D/0088/D.0088.194207170014.html

About the author:
Gabriel Donohoe is a Writer and Natural Health Therapist who lives in Co. Cavan, Ireland.  He can be contacted via his own  Fool’s Crows Blog.

Disclaimer: The contents of this article are of sole responsibility of the authors(s). News Beacon Ireland will not be responsible for any inaccurate or incorrect in this article. News Beacon Ireland grants permission to cross-post original News Beacon Ireland articles on community internet sites as long as the text & title are not modified. The source and the author’s copyright must be displayed. For publication of News Beacon Ireland articles in print or other forms including commercial internet sites, contact: [email protected]
www.news-beacon-ireland.info may contain copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available to our readers under the provisions of “fair use” in an effort to advance a better understanding of political, economic, cultural, scientific, spiritual and social issues. The material on this site is distributed without profit to those who have expressed a prior interest in receiving it for research and educational purposes. If you wish to use copyrighted material for purposes other than “fair use” you must request permission from the copyright owner.