Irish Financial Bailout -
So this is how it's done... “So simple!! the mind is
repelled”. John K. Galbraith
It is a slow day in a damp little Irish town. The rain is beating
down and the streets are deserted. Times are tough, everybody is in debt and everybody lives on credit. On this particular day a rich German tourist is
driving through the town, stops at the local hotel and lays a €100 Euro note on the desk,
telling the hotel owner he wants to inspect the rooms upstairs in order to pick
one to spend the night. The owner gives him the keys and, as soon as the
visitor has walked upstairs, the hotelier grabs the €100 Euro note and runs to the...
1. The Butcher - The Hotel owner's debt in now paid.
The Butcher then runs with the €100 Euro
note to pay his debt to the...
Pig Farmer - Butcher is now free of his debt. The Pig Farmer
takes the €100 Euro note and runs to pay his debt to the...
3. TheFeed Lot owner - Pig Farmer is
now paid off. The Feed Lot Owner likes his Pub. He takes the €100 Euro note to pay his drinks bill to the...
4. Pub Owner - Feed Lot man is now out of debt.
The Pub Man slips the money over to a “street worker” who
has been giving her services on credit...
5. The “Street Worker” - Pub Owner has
now paid his debt to the “Street worker”. She then runs to the Hotel to pay her room
6. The Hotel Owner - The “Street
Worker” has paid her debt.
The Hotel proprietor then places
the €100 Euro note back
on the counter just as the rich Banker traveler comes down the stairs, picks up
the note and states that the rooms are not satisfactory, pockets the money and leaves town.
produced anything... No one earned
anything... However 6 people are now out of debt.
Money is what “we the people” create when we produce
goods or services to exchange with each other. Only governments have that legal right to
print that money on our behalf.
anyone else prints it, it is a criminal offense. If governments create our money, how is it
possible that there is never have enough to do what needs to be done; roads,
Need and unemployment should
eliminate each other.
live under the illusion of money... Will