--- The Great Irish Miracle ---

An Economic Hologram


At a 2008 conference, John McCain was using "The Great Irish Miracle" to promote the idea that the United States should lower corporate tax rates so that we too could have a "Miracle Economy".  Ireland apparently had a 10% corporate tax rate and McCain wanted the same thing for corporations doing business here in the United States.

The "startup" that John McCain was shilling for at the conference was a Silicon Valley company named Innovalight. The founder of the company, Conrad Burke is from Ireland.  This occurred just two short years ago.  Now, if we are to believe the news, Ireland is on the verge of collapse.  The bankster-techster gangsters are taking over the management of Ireland and the EU is scrambling for bailout money

So what happened?   

As luck would have it, the other day, I just happened to be scanning through H.R. 2295 - Appropriations for Foreign Operations, Export Financing and Related Programs for fiscal year 1994 and found an appropriation of $19,600,000 to International Fund for Ireland, which was made available in accordance with the provisions of the Anglo-Irish Agreement Support Act of 1986.  Curious, thought I.  A search revealed that the Anglo-Irish Agreement was between the British and Northern Ireland giving Northern Ireland a seat at the table in governmental decisions which effected them.  It was signed in 1985.  In 1986, Senator Edward Kennedy and 'The Friends of Ireland', a group founded by Tip O'Neill, succeeded in passing legislation providing funding for the International Fund for Ireland for economic development and job creation.  In every foreign assistance appropriation since then, funds have been allocated for Ireland. 

A copy of the Agreement to create the fund was found on the International Fund for Ireland website. 
                                                    "The International Fund for Ireland was established as an independent international organisation by the British and Irish Governments in 1986. With contributions from the United States of America, the European Union, Canada, Australia and New Zealand, the total resources committed to the Fund to date amount to £628m / €753m, funding over 5,800 projects across the island of Ireland."  


Continuing from its Background page, we see that this was a border agreement between North and South:

The Fund focuses its efforts in Northern Ireland and the southern border counties of Cavan, Donegal, Leitrim, Louth, Monaghan and Sligo.

This is confirmed on the Strategy page where the purpose of the agreement is listed as:

  • help to build and realise the vision of a shared future in Northern Ireland and the southern border counties;
  • promote understanding between the different communities;
  • work with those communities suffering the greatest economic and social deprivation, using economic concerns as a platform to build stronger relations with their neighbours;
  • facilitate more integration between the communities;
  • deal with the problems of the economically inactive and long-term unemployed;
  • build strong strategic alliances with other agencies and bodies active on the ground, ensuring that efforts are complementary, sustainable and mutually reinforcing;
  • ensure the long-term continuation of its work in Ireland beyond the lifetime of the Fund; and
  • share the expertise and learning acquired over the past three decades with peace builders in other regions.

The significance of this being a North-South Agreement is that it represents an incremental step towards regional integration.  The term North-South is a symbolic representation of the relative wealth of bordering countries - with North representing the wealthier country and South representing the poorer country.  The North-South Agreements were the result of implementation of the ideas expressed in reports of the Independent Commission on International Development (aka Brandt Commission) chaired by Willy Brandt.  The La Paz Agreement between the United States and Mexico, signed by Ronald Reagan in 1983 was a North-South Agreement.   To continue this thread on International Commissions, Agreements and integration, click  HERE (coming soon).  

On the Accomplishments page we hit pay dirt - the Trojan Triangle system in Ireland: 

Since it was established in 1986, the International Fund for Ireland has worked tirelessly and impartially towards achieving lasting peace and prosperity in Northern Ireland and the southern border counties...  The Fund’s key achievements include:

  • supporting over 5,800 projects across Northern Ireland and the southern border counties;
  • leveraging other funding of almost £1.4 billion / €1.68 billion by putting ‘first money on the table’; and
  • helping to create 55,000 direct and indirect jobs.

An external review of the Fund’s activities by Deloitte MCS Ltd in 2005 found that:

  • the Fund has a unique standing within all communities throughout the island of Ireland, notably within areas regarded as most difficult to reach and it has been able to transcend ‘political’ disputes and tensions;
  • the Fund is seen to adopt a partnership approach with local communities that is unique in the funding world;
  • the vast majority of projects supported by the Fund have been located in areas designated as disadvantaged; and
  • nearly 75% of projects supported by the Fund will be continued under a self-sustainable income generating basis.

In 2009, the New York Times published an article on Ireland's economic decline:

The roots of Ireland’s fall date to more than 20 years ago, when a clutch of economists, politicians and civil servants put their heads together in this very pub and planted the philosophical seeds for the Irish economic miracle.

Known widely as the “Doheny & Nesbitt School of Economics,” these beery musings soon became government policy that chopped taxes in half, sharply reduced import duties and embraced foreign investment — a radical transformation that gave birth to the Celtic Tiger and perhaps the most open and vibrant economy in Europe.

Reading that article is like reading about the economic meltdown in the U.S. including the bursting of the subprime mortgage bubble.  Why would that be?   It's because bureaucrats globally confused the economic policies of their nations with the business goals of the technology industry which include the radical environmental agenda.  The environmental agenda dovetails into Technology's business goals by virtue of the technology based control systems for energy and resource management.   Technology is great, but you can't build an economy for a nation on it - because a significant portion of it is "virtual"  - intellectual and remote.  The very essence of technology is efficiency which is by definition, reductionist.  Growth through reduction.   It is the growth of technology and related service companies bottom line through the reduction and elimination of the rest of the productive economy.  With that simple truth as the basis of understanding the impact of technology on society, the rest of the 'Celtic Tiger' story becomes  understandable and predictable, even before it happened.

The Accomplishments section above, where it says, leveraging other funding of almost £1.4 billion / €1.68 billion by putting ‘first money on the table’ (key word is leveraging),  notice the statement, "the Fund is seen to adopt a partnership approach with local communities that is unique in the funding world".  That's not true.  The same system of "partnership", leveraging and foreign direct investment is operating in this country as well as other countries around the world. It's called "social investing".  It's a global economic strategy for "the New World Order" - or perhaps you could call it the takeover strategy for the Fourth Reich (reich:  'kingdom', Webster's Monarch Dictionary, Splendid Edition, 1909.

On the International Fund for Ireland website, there is a panel that loops through a series of images with a message box description with a hyperlink More...   for more info.   When the display is for Duolog Technologies, and you click on More, it takes you to an information page about this company, Duolog.  Duolog is the prize pig for 'show and tell' marketing for the "New Economy".  What you need to look at is on the right hand side panel where there is a hyperlink for Enterprise Equity.  Click on that and you find out there are two listings for private venture capital, one for Northern Ireland and one for Southern Ireland.

Enterprise Equity Fund Management (NI) Limited based in Belfast and Enterprise Equity (IRL) Limited based in Dublin provide Venture Capital and Private Equity to new and expanding businesses in Northern Ireland and the southern border counties.... For further information about Enterprise Equity Venture Capital Group, please visit its websites: www.eeni.com (Northern Ireland) or www.enterpriseequity.ie (Ireland).

Spend some time on those websites keeping in mind the effect of the Trojan Technology Horse on the economy - and the system of leveraged investment of public and private funds for the small technology startups (prize pigs). They are effectively the dot.cons at the community level that initially give the illusion of a booming economy.

Infrastructure for the Holographic Economy

New, high tech infrastructure is an essential component of the Technology Corporate business plans.  To rebuild infrastructure requires that nations and states go into debt to pay for it - at the same time Technology is collapsing the real economies.  Because I already knew about the high tech global transportation system, I did a search on "roads for Ireland" and found this wonderful website called, "Roads Ireland".  In their first journal on Page 38, it says the following:

It wasn’t until Ireland’s accession to the European Union in 1973 that things began to change. I began working in 1974 and my first job involved driving to every corner of the country. Traffic volumes were still relatively low but the state of Ireland’s road infrastructure was such that trips to Cork, Galway, Limerick, Waterford or further afield were major expeditions. H o w e v e r, the impact of EU accession began to make itself felt in the 1980s....At long last in the 1990s sanity began to prevail. EU funding was made available and the National Roads Authority came into being with the brief of managing those funds in order to bring about a planned and prioritised development plan for the improvement of the country’s road infrastructure.

The following is an excerpt from previous research titled, "War in the Context of Everything Else:  Global Ponzi Scheme":  

The following is an excerpt from an article titled, "Why we need EU Bonds" in the section called, "A Little History":

The principle of borrowing money from financial markets on behalf of the European Community has previously been applied to grant aid to extra-EU countries, in particular before the 2004 enlargement. Kosovo, Moldova and Georgia are all currently receiving financial help through EU loans raised on the market. In January 1993, Italy, a member of the European Community (the EU’s forerunner), was granted an eight billion ECU loan to support its strained balance of payments. Since then, no member state has received financial help through this instrument.

The idea of borrowing money via the issue of EU bonds was first launched by former Commission President Jacques Delors via his 1993 plan for growth, competitiveness and employment. Delors initially wanted EU bonds to fund the European budget. But the majority of member states opposed the idea, fearing it would ultimately increase their expenditure on the Community budget.

Borrowed money has been used by the EU to fund projects in several cases, although the amounts involved have been small. For instance, a ‘New Community Instrumentexternal ‘ was used in the late 70s and early 80s to help regions affected by earthquakes in Italy and Greece. Italy has recently proposed using European bonds to fund key EU projects, but the idea garnered little support...


Jacque Delors White Paper on Growth, Competitiveness and Employment is the European Master Plan for European competitiveness in the 21st Century.  Strip off the name 'Delors' and you'll recognize the elements of the plan immediately because it America's Master Plan and no doubt it's Canada and Japan's Master Plan as well.

From pages 30 and 31 of Delors paper:

3. Environment - ECU 174 billion on large environmental projects by the year 2000. 

The environment is an integral element of the trans-European networks, for example concerning combined transport networks designed to get traffic off the roads onto rail.  The Commission has nevertheless environmental programmes of sufficient size to merit eligibility for financial support from the Community. These concern urban waste water treatment and renovation of water supply distribution systems at an estimated cost of ECU 280 billion in total over 12 years or ECU 140 billion by the end the century. The Community could help finance some ECU 25 billion in this area of environmental concern over the period 1994-99. 

4. Financing the trans-European networks and large environmental projects

The major portion of finance for these investments will be raised at the level of the Member State, either through private investors (especially in the telecoms sector) or via public enterprises. The Community can however, play a role, as foreseen in the Treaty, by supporting the financial efforts of the Member States and mobilizing private capital1. This requires a panoply of financial instruments, as set out in the table below, some of which exist already and two of which are new ('Union Bonds", Convertibles). The new instruments are needed for projects specifically included in the Master Plans and complement the lending of the European Investment Bank, which is more general.  The budgetary elements remain within the Edinburgh ceilings. National budgets would not be required to support additional financing.  In the case of the new instruments, the capital and interest would be repaid by the promoters of the projects, with the Community budget available to back the repayment of the Union Bonds and the capital of the European Investment Fund available in the case of the Convertibles. There would be no risk of destabilizing the capital markets given that the amounts concerned represent less than 1 % of the Eurobond and bank credit markets.

So what is that all about?    A press release issued by the U.S. Senate Committee on Finance to consider the impact of leasing deals gives us an idea.  Keeping in mind both the governmental guarantee of repayment and the fact that they are talking about infrastructure, a default without bailout would mean repossession of infrastructure that was built to accommodate the business objectives of the tech industry in the first place.    

That's pretty much how the economic hologram works but just to wrap up on the Ponzi Scheme aspect of all of this, consider this, the United States along with several other countries contribute to a fund for economic development in Ireland.  Ireland contributes:

The Government of Ireland’s Development Cooperation Ireland (DCI) manages the Irish Aid, providing assistance to people, governments and civil society in other countries. Irish Aid is an integral part of Ireland’s foreign policy and it has played a critical role in supporting many programmes for development around the world. Poverty is the key focus of the international development assistance of the Irish Aid. Irish Aid also believes in flexibility of operations and hence, most of the aid it gives to countries and organizations is untied.

Irish Aid has prioritized mostly African countries, in addition to Vietnam, Eastern Europe and the Western Balkans. It has a number of funding programmes such as Multi Annual Programme Scheme (MAPS), Micro Projects Scheme, Civil Society Fund, Emergency and Recovery, Development Education, Simon Cumbers Media Challenge Fund, Global Health Research Awards, Irish Aid and Higher Education Partnership and Partnership Programme for Europe and Central Asia.


Oh... and I almost forgot to mention, the prize pig, Innovalight that John McCain was shilling for in 2008 -  agreeing that they needed  H1-B imported foreign workers, received a $3 million grant from the Department of Energy in 2008. 


Chinese solar manufacturer Yingli Solar announced it has signed a technology, research and production agreement with Innovalight (Sunnyvale, CA; $900K SBIR in Texas). It's Innovalight's second major deal with a Chinese solar manufacturer. Earlier this month, JA Solar signed an agreement to buy inks from Innovalight for three years. ....  In 2008, Innovalight was one of six companies to be awarded a competitive, $3 million grant from the Department of Energy that aims to make solar energy cost-competitive with conventional forms of electricity by 2015.  [Dana Hull, San Jose Mercury News, Jul 26, 10]

In October 2010, they signed an agreement with a Chinese company:  

Solarfun recently announced plans to convert solar cell manufacturing capacity to higher efficiency products through the introduction of selective emitter technology. Solarfun will license a solar cell process and purchase silicon ink from Innovalight for the production of high efficiency solar cells on mono-crystalline silicon substrates.

In July of 2010, Innovalight signed another agreement with a Chinese firm:

JA Solar Holdings Co. a Chinese solar-cell manufacturer, has teamed up with a U.S. start-up in a deal that points Chinese solar interest in advancing new technologies.

Innovalight Inc. and JA Solar agreed to co-develop solar cells whose sunlight-to-power conversion efficiencies would exceed 20%. The current efficiencies that JA Solar has achieved using inks from Innovalight are 18.9%.

JA Solar also signed a commercial agreement to buy inks from Innovalight for three years. Terms of the deal weren't disclosed. The Sunnyvale, Calif.-based start-up makes silicon nanocrystal inks that cover solar wafers to improve the power output of solar cells.

"The acceleration of [the Chinese solar industry's] investment in research and development shouldn't be underestimated," said Conrad Burke, chief executive and president of Innovalight, in an interview.

Personally, I don't see "The Great Irish Miracle" in any of this.  All I see is deceit, fraud, theft and corruption.   

Vicky Davis
November 30, 2010

Update... Thank you Joann...    Link to:  CNBC Slide Show of the World's Biggest Debtor Nations