The Crash, The Bailout And The Theft Of Ireland’s Resources


As Ireland’s government steers the country into an economic black hole there are many of us left scratching our heads as to why they are not using the massive wealth of this nation to fund the recovery and our future, and to tell the bankers where to go with their imaginary gambling debts.

As I’ve watched this country self-destruct over the last two years since the derivatives bubble was burst, I ask myself why is it happening? Why in a country rich with investment, talent, and resources and with a reasonably healthy economy with good exports, is the whole thing spiraling into a never ending cycle of un-payable debt? Believe me it is un-payable, just like all the third world debt issued by the IMF and World Bank before this.

We all know by now that the bankrupt international banks, who issue credit out of thin air, crippled the industries that support our jobs and thus our economy and sent the whole world crashing into what many believe from understanding history, is a deliberate recession from which, as history shows, the main banks will once again come out the other side more wealthy and larger than before. One need only look at the 1907 and 1929 crashes to see this consolidation process in action in the years that followed.

None of us Joe Public were in particularly problematic debt. Just the normal loans for a home and a car, nothing special. Nothing we couldn’t manage on our salaries. Yet still here we are now indebted, by the actions of a government with no mandate, to the tune of around €18,000 for every man, woman and child in the country. The interest alone will cost around €3,000 per year in extra taxes for every working person in the country before any of the principle loan is paid off.

So how are we expected to pay back this loan for a debt that we never incurred in the first place? A debt that only exists in the ups and downs of market values and shares in a fictional world of computerised credit, and not a single solid asset in sight. Yes, you guessed it. We are to pay the fictional debt with our real assets. Those being our labour, our children’s labour and our grandchildren’s labour, as well as the selling off of our public services to private corporations owned by the banks to be run for profit by them. These will include our roads for tolling, our health services, our utilities like the ESB and Bord Gais, and our water suppliers, even our ports and airports.

It doesn’t stop there though because as well as these institutions and all their associated assets, which will undoubtedly be asset stripped, the bankers are looking to take our €20+ billion of national pension fund which has been accumulated to pay the pensions of the people of Ireland in just such a difficult period. Finally, and the nub of this article, the international bankers will be given by our government the country’s tangible wealth in the form of land, minerals, our forestry, and most importantly our fuel resources in gas and oil.

Unbeknown to most people in Ireland, this country is one of the wealthiest countries in the world for natural mineral wealth. An inspection of the applications for mining licenses will reveal among other precious minerals like zinc and lead, a wealth of silver and gold buried under the ground. In fact the volumes of minerals found in Ireland per square mile make it the richest country in the world for mineral deposits. This is very valuable and why this has not been exploited is unexplained. Yet there is another kind of gold that Ireland possesses in spades that is being exploited now. The black gold !

Off the west coast of Ireland there is an enormous volume of oil and gas. The government (Dept. of Communications, Energy Natural Resources) themselves valued west coast deposits in 2008 at €540 billion although the price of oil and gas then was a fraction of what it is now. This is a resource that could give everyone in Ireland free energy in the same way that Norway funnel their oil wealth to their people, and still make huge profits selling energy to the UK and Europe.

The Corrib oil field currently being exploited by Shell, that we hear about for all the wrong reasons, is the only oil and gas field the public are aware of, but there are huge basins of oil and gas known to exist off Limerick and Kerry. One in particular called Dunquin gas field which is a proven field and is described by the operator (Exxon/Mobil) as “one of the biggest fields in the world” containing an estimated 25 trillion cubic feet of gas and over 4 billion barrels of oil. This alone could keep Ireland running for over 60 years.

The reserves off the west and north west coasts in total have been estimated at around 130 billion barrels of oil and 50 trillion cubic feet of gas. A virtual underwater Saudi Arabia. Yet it doesn’t end there. The Lough Allen Basin is a huge inland gas field in the northwest which has been known for some 40 years now and contains 9.4 trillion cubic feet of gas. Enough to power Ireland for the next 25 years but it has has yet to be tapped. There are known fields off the south coast that have yet to be announced.

Furthermore, new oil and gas basins have been announced this year off the coast of Dublin by Tony O’Reilly’s company Providence Resources and it’s UK partners. O’Reilly is also partnering Exxon in Dunquin. The east coast fields have been estimated in the hundreds of billions in value to Ireland and yet along with the riches of the west and south, the inland gas and the wealth of minerals that we are literally tripping over here, we are still bankrupt ! Does this make any sense to you?

Unfortunately over the last 35 years successive governments have eliminated all of Ireland’s rights to capitalise on it’s own resources. They have legislated away their percentage share of the gas and oil down from 50% to 0%. Yes zero. So the oil and gas is wholly owned by the oil companies royalty free. Successive ministers like Ray Burke and Bertie Ahern have been instrumental in this process which even saw the reduction in tax on oil profits to only 25% where other countries charge almost 70%. This also is only payable after all exploration and development costs are deducted as well as future decommissioning costs which effectively negates the corporation tax too.

Ireland should be the richest country in Europe with the majority of Europe’s oil and gas and fishing waters, as well as the richest mineral deposits. Yet our government has given the fisheries away to the EU, many of the mining operations are owned by foreign companies and now all the energy reserves have been given away to large multinational companies who are under no obligation to even sell the gas or oil to Ireland and we will be forced to buy our own gas and oil back at market prices from the oil giants.

This situation cannot possibly be accidental. The legislating away of our resources was a deliberate act and in this writers opinion it would seem to be a criminal act of some description. This kind of intergenerational legislative deceit could only be done with cooperation and foreknowledge and looks on the surface to be the biggest fraud ever perpetrated in the history of the state.

It even far exceeds the apparent fraud of the bank bailout wherein we the people are paying off UK and German banks, who held high risk bonds in bad banks, by using loans from the very same UK and German banks to pay their bonds, and we are charged interest for the privilege of bailing out their gambling debts to boot. Does this seem right to anyone except our politicians? Nobody of sound mind could fail to see the deliberate fraud of this and the role being played by our government in assisting this.

When the government accept this IMF bailout they will be relinquishing control of the nation and handing over the financial management of the country to the IMF, which in effect is only a front for the UK and German banks that funded the bailout. It is therefore they who will decide that Irelands assets are sold off and to who. Watch this space and we will find with very little investigation that subsidiary companies of the banks may well benefit greatly from this fire sale.

Already Bertie Ahern in his cushy new job as head of the International Forestry Fund, a corporation set up by a Swiss financial services provider Helvetia Wealth AG, is bidding to buy and privatise Coalite, which controls all Irelands forestry. This would mean 7% of Ireland’s land mass would be in the hands of one of these international banks. It was a recommendation of the An Bord Snip Nua report in 2009 and the appointment of Ahern in 2010 tells me that this was probably already a done deal before the bailout ever reared it’s head.

The level of collusion to pull off this takeover of assets has to go to the highest levels of government in order to orchestrate this over such a long period of time, because not only was the oil and gas legislation nullified but so was the banking control legislation in the same period.

Indeed if we look to those people who have been in positions of power and also regularly attended secret meetings like the annual Bilderberg meeting or the Tri-lateral Commission meeting along with all of these bankers, oil companies, other multinationals and politicians in Europe and worldwide, then we may be seeing the root of the conflict of interests of our own politicians and should ask who are they really working for?

If these meetings aren’t shady enough it is made more suspicious by the fact that the Tri-lateral Commission meeting this year was held over three days in Dublin this Spring, without ever getting a mention on the national news despite 300 of the world’s richest and most powerful people being in Dublin and being dined by the President.

If we want to know why we are being asset stripped, then this is a good place to start to find your culprits, and perhaps these are he questions that people should be asking the election canvassers this week instead of who is going to fill the potholes?

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21 Responses to “The Crash, The Bailout And The Theft Of Ireland’s Resources”

  1. viv Says:

    Why aren’t the IRA shooting some of these bastards dead. It would do a lot for their PR

  2. Rerouted2Remain Says:

    ‎– In the US we have the BLM (Bureau of Land Management). You should start an uprising and start something similar in order to take back what is yours to begin with and prevent others from stripping it down, dividing, selling, etc. This would also generate much needed revenue. http://en.wikipedia.org/wiki/Bureau_of_Land_Management

  3. Patrick Cuddihy Says:

    Ahern is just a messenger boy in the Helvetian scheme of things; he is useful to an extent; and while he may think he is part of the boys club, this club is very old order; it uses presidents, prime ministers and the little fry like Ahern as figure heads to front their cause and do their dirty work. Of course one will be accused of racism if one mentions the likes of Rothschilds as a main string puller in the scheme of things controlling the world economy while benefiting a small coterie of hidden names and a small but powerful nation! Kissinger for all his power is a small player on behalf of a bigger game plan too!
    While we fight each other on every front on this planet we remain blind to an obscure but insidious group of people who have been waging a subtle but quiet revolution behind the scenes. We have been sold lock stock and the proverbial two smoking barrels for a few pieces of silver by our naive leaders, but too busy in confrontation and conflict with our neighbours to acknowledge this let alone call to order the handful of fat cats responsible and to whom we are all in hock to!
    Einstein was wrong, God does play dice, just that God is a group of elite rich powerful people with a game plan for world domination, and as long as the world is at war they will find it easy to establish the task! As Shakespeare said There are more things in heaven and earth, Horatio, Than are dreamt of in your philosophy. The world needs to down tools, stop and think and define just what it is that is important, friend or foe!

  4. Diarmaid O Seigefriede Says:

    If you have any dought that the Tri Lateral meeting was held in Dublin on yy 7th and 8th of 2010 my youtube site the http://www.youtube.com/user/dcbourbonireland has the film evidence.
    We filmed David Rockerfeller , Henry Kissinger and the President of Ireland Mary McAleese and many of the top 300 of the planet going into the RDS private members club to be wine and dined and dance on the ashes of the Irish pensions and oil wealth
    To be noted was the then head of RTE was the head of the RDS private members club who invited all these peoples to carve up Ireland Inc
    Needless to say that explains why RTE wasn’t there to film this event . The world media wasn’t there as the top 300 of the planet own all those media so they could not attend . Denis O’Brien is a Bilderberger the sister group to the Tri Lateral meeting and ensured non of his journalist were in place to film this and he not allow this subject to hit the airwaves. Sir Rugger bugger and his media empire had sold his soul and his new media to the Bilderbergers a long time ago as the Queen a top Bilderberger doesn’t bestow honours to types that don’t tow the Bilderbergers line so there was no indo media to film the event
    Irish and world media are ow proved to be totally castrated vessels of the Bilderberg dynasty
    So it was just rag tag group of amateurs from Ireland and a few EU countries that filmed this travesty protected from any media by the forces of the Garda that managed to film the lesser spotted Rockefeller’s and Rotchchilds in a feeding frenzy gobbling up Ireland helped by many traitors from Ireland

    Diarmaid

  5. Bob Says:

    excellent – sorry im a newcomer being more or less completely ignorant of this fraud up till recently – but can someone explain to me – are ALL our oil and gas rights sold on .. done and dusted – or are there still resources up for grabs that we have a fighting chance of saving ….. as opposed to trying to undo the already done damage ( which we should also try to do of course )

    • Door32 Says:

      Not in those simple terms. What they have done is changed all the relevant law so that any oil and gas that is their will not benefit the nation and will be owned by the drilling company.

      Furthermore, and part of this scam, is that as part of this deliberate crashing of the economy and the IMF bailout, the result will be to hand over bord gais to these people and then we cannot even control the pipelines

  6. Emily Says:

    I was completely unaware to any of this..it’s a disgrace, to say the least. Not only that those mindless, narcissistic baffoons have gotten away with this, but also that these blatant crimes have gone unnoticed!
    Why, oh why, do the people of Ireland seem to believe that everything is out of their hands? I’ve heard of people saying “I don’t agree at all with what Fianna Fail have done with the country, but, we’ve been voting for them for years, so of course we’ll be voting for them again..” I mean, WHAT?! Not enough people feel that they can actually make a change. They seem to be more interested in what politicians are most likely to go to their funeral rather than party policies! And as for these ‘policy leaflets’, surely it’s some kind of misleading advertising to not state that ‘Yes, we plan to strip this country dry. We’ll look so much better wearing a complimentary suit some oil giant gave us for selling our souls. Yippee!” – Ugh.
    I’ve gotten really pissed off reading this and I wish everyone else could see this and also be angered at this. Anger seems to be the only hope of getting anything fixed around here.

  7. Eoin Says:

    So how do we channel this in the right direction so action begins?
    this should be on papers, radio,t.v, the topic should be on peoples minds all over the country. problems gone in weeks! My friend has texted Matt Cooper on the last word about this but i have not heard him mention it. If someone leaves a time and date that we all agree on ,he may be obliged to bring this up by sheer volume of numbers.
    This information has to be talked about on a show with a large audience and with the host having access to the people in power. thats only why i suggest The last word.

    • Door32 Says:

      Your first problem is that Today FM is owned by Denis O’Brien. Denis is a Bilderberger and will undoubtedly have a station manager, or editors in place who will not allow this subject to hit the airwaves. Be my guest and try, even send them the article. I have been down to the station personally to make them talk about the climate hoax amongst other things but they have no intention of doing so. O’Brien is globalist scum and was gifted his fortune by corrupt politicians and Bilderberg bankers

  8. Anonymous Says:

    hey lads..so what do we do about this? how do we get this onto main stream. this needs to be pushed to the Matt cooper show or something that has a large audience with the host having access to the people in power. Articles like this need to be channelled in the right direction now!

  9. Gordon Smith Says:

    Nice to read some very well informed comments. Unfortunately Bribery and Corruption can not be beaten until the people wake up to the fact that most poiticians of all parties have been doing this for years. Until some very serious punishment is meted out to those who give and take bribes, things will never change. Large multinational companies are so big and powerful they make their own rules and buy any politicians or other people thast they need to advance their interests. If a Government doesn’t play ball they get the CIA/MI6 to arrange its overthrow. You only have to look to the oil rich nations of the Middle East to see how they operate. The wealth of a nation does not belong to the people who live there until they are prepared to take action to ensure that they get a share of their nations wealth and not just the few people who are bought by these Companies. Enron lives on under other names.

  10. fraz1971 Says:

    Why does everyone fall for the government bullshit about test wells? 3D seismic survey gives a very good indication of the size of prospects.

    It was geothermal energy that they wanted in Iceland and it is oil and gas that they want in Ireland.

    People just can’t get their head around the fact that we are a wealthy nation. I know it is hard to fathom the sheer level of treachery from our politicians, but at least ask questions for goodness sake.

    The pipline from Mayo runs all the way to The Netherlands via Scotland. When they acquire Bord Gais they will own the Irish pipes and then the real extraction will begin.

    I have worked with oil companies. I saw a picture in the Belfast Telegraph a few weeks ago. It showed a photograph of a seismic survey vessel entering Carlingford Lough. The last time I had any dealings with the oil exploration industry was when I worked for Eagle Geophysical in 1999. A 2D seismic survey vessel had a charter rate of $250,000 per day back then. I doubt they were in Carlingford for some R&R.

    England had plenty of gas from North Wales to the Scottish Borders. There are plenty of gas platforms along the east of England coastline. Is it so hard to imagine gas being a few miles away in our waters?

    By the way. I’ve seen Lorcan on other blogs denouncing the estimates of our reserves. I would bet it’s the same Lorcan anyway.

    The truth that nobody can deny is that there is a huge find off Mayo. Our fisheries are also real. The wealth that we know is 100% real could wipe off our debt.

    My only explantion for the actions of all main parties (not just FF) is that they squandered everything so that we would give our resources away for free. It was not our responsibility to pay bondholders for their gambling habits.

    The politicians are either all very simple minded or they are mercenary traitors. I know which one I would pick.

    Great blog by the way. Thankyou for taking the time to enlighten our dumbed down populace. Dragging them away from the idiot box may be a tougher task.

  11. william Says:

    Top class article. Nothing short of an Egypt is going to save us.

  12. Lorcan Says:

    If they really found that much oil and gas companies would be tripping over themselves to get at it and dig new wells. I’d say they are estimates given on the potential of the west coast for oil and gas (although they may still be exaggerated) but due to the deep water it is very difficult and expensive to drill test wells and companies do it at a big financial risk. This NY times article from 2008 seems to better reflect reality.

    http://www.nytimes.com/2008/08/24/business/worldbusiness/24iht-ireoil.4.15590087.html?_r=1

    Off Dublin the find is likely to be around €25 billiion according to exxon’s own estimates. You say that “The east coast fields have been estimated in the hundreds of billions in value” but these estimates aren’t based on any actual finds.

    http://www.irishcentral.com/news/Major-oil-find-now-likely-off-Irish-coast-says-prospector-100250974.html

    Companies are unlikely to keep quiet about a large find because (as the following article shows) they can get a large boost in their stock price, which is the primary target of any publicly traded company and because their licence could expire if they remain quiet for too long. The company in the following article got an 18% increase in their stock price and their licence was for 15 years.

    http://www.independent.ie/national-news/west-coast-oil-discovery-is-first-in-30-years-1767739.html

    It takes a long time to discover the true potential of a field and work out whether developing a site, which also takes a long time, will actually be profitable: Corrib was found in 1996. They had an 11 year licence from 1993 (they then got an approval to develope the site in 2001).

    I agree mostly about the banks though 🙂

    • Door32 Says:

      Lorcan I have edited out a phrase from your comment that I do not allow on this site, I hope you understand.

      However, I take note of your points and all are valid. However the sources of information is the problem. You espoused to the manipulation of information for stock price and profit, well the same goes for political motivation.

      The NYTimes and Independent are both owned by corporations run by people who atend the very steering groups that set up this grand theft. It is a long term project that started back in Haughey’s days in government as the changes to the statute book clearly reveal. those organs along with many more like the Economist, Wall Street Journal, Financial Times etc all attend these shindigs and never report. Funny how they continued to push the “everything is fine and rosie in the economy” right up until the day of the crash and then some more.

      These papers and business reports will say exactly what they want us to hear. The government dept of energy itself gave the estimates and the oil companies have since confirmed that these are rich high grade deposits. I wager you there is nearer a trillion euros in fossil fuels to be exposed yet and the Irish government engineered it so private companies not only get to drill it and make a profit (which nobody minds at all) but they actually gave away ownership of whatever comes up! That is treason and something they have no authority to do.

  13. Declan Cullen Says:

    Hi, Declan here. The same people who have collasped the worlds economy are the same people who have robbed Ireland of its resources
    The Trilateral Commission owns Ireland, and one of its chief backers is
    Henry Kissinger, and the reason why he keeps popping up is that he is the leading Zionist in the global power structure.
    The people of the world are waking up but they are finding it hard to come together because of multiculturism and division along religious and ethnic grounds.
    This was put into play many years ago by the Zionist movement in order to destroy the harmony among peaceful people.
    These bastards have caused great misery all through history only then to around and claim to be the victims.
    Tell anybody that will listen who really the fact of who really runs the world and through this action you will wake up more people, who in turn will wake up others.

    Declan Cullen

  14. steve Says:

    Great article.

  15. phil Says:

    Great article, hope you don’t mind if I share it, if we don’t wake up to this theft soon we’ll be in a far worse place than we are now. A vote for Fine Gael is a vote for more of the same!

  16. Shay Murphy Says:

    SHAMEFUL http://www.flickr.com/photos/xshayx/5211461215/

  17. MARTIN DAVIS Says:

    it.s the best data account iv read about this affair ,i’d have a better account of the goings on with SHELL. THERE AT THIS SINCE THE FIRST EXPLORATION RIG.S ,SEDCO 707.708 and ?709, went off the west coast, porcupine basin, off loop head. I was on them and worked in the mud room taking samples from the shale shaker;the samples we took indecated a high sulphour content which indecates a high grade oil.after refinement. Charlie Haughie and Ray Burke, XCON, were dealing the cards, one of the top men for the oil company told me personaly that they had made an ( under the table ) deal with SHELL.; for self gain /BROWN ENVELOPED; more or less gave the oil rights away.the figure 8.000.000 was mentioned! so it was and still is illegal! SHELL SHOULD BE CHASED OUT OF IRELAND FOR THAT ALONE! Never mind the treatment of the protesters in MAYO.AS YOU SAID NOT ALOT OF PEOPLE ARE AWARE OF THIS! BUT I AM ,and informed SF of this as far back as the early 80s i think? it was brought up in the DAIL and it was brushed under the table. Those *****in the dail are still lying through their teeth on their dieing breath! all oil and gas rights should be taken back and nationalised. Willie O’Dea of FF,TD RESPONCE .(it is not possible to revoke or change contract,s halfway through,To do so would have significant implecations for the reputation of the state across a range of businesses where any future discovery is brought to production!what a load of b******S, their reputation as a political party is FINISHED, PERIOD, GONE and GOOD RIDDANCE

  18. shitehole@hotmail.com Says:

    Great article, all the corruption rolled up in to one nice tidy bundle…when will people wake up to all this?? I hope before it’s too late

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