risk

Submission on strategic risks facing Ireland

We urge the Irish government to recognise the existential aspect of environmental risk, as well as the complex challenges posed by the global financial system's high dependency on oil. Ireland is particularly vulnerable to financial collapse and its community banking sector needs to be strengthened and taxation reforms carried out in order to help mitigate this.

Derivatives: Weapons of mass destruction

For Adam Smith, “Goods can serve many other purposes besides purchasing money, but money can serve no other purpose besides purchasing goods.” Banks and financial traders have other ideas. They are now running a parallel economy in which money makes money out of money. The volume of this trade is ten times the volume of trade in goods and services, and traders extract money that other mortals can’t possibly aspire to. No wonder it causes havoc.