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Tuesday, July 5, 2011

Privatization- coming to a Nation near you

By now everyone knows about Greece's financial troubles and the insistence of the IMF and banks to sell their infrastructure to them i.e. privatize as conditions to receive loans and generate revenue to pay interest on the the debts.  It is akin to the game 'Monopoly' where a player 'sells' his/her properties to the person who they owe rent to, just to stay in the game another spin or two when there's no chance of surviving.

Did you know other nations are being forced to privatize to satisfy the financial needs and wants of the banking cartel?  Here are some examples from the Guardian UK:

"Ireland:  The national airline, ports, power stations and even the Irish National Stud, which hosted a visit by the Queen in May, face being broken up or sold off under plans to get Ireland out of the red. A government-commissioned review of state assets published in April said privatisation could raise about €5bn for the cash-strapped country.

Spain:  The world's biggest annual lottery payout, Spain's famous Christmas El Gordo (Fat One), spreads joy to tens of thousands of winners – but the biggest winners of all may soon be investors who snap up part of the state company behind the lottery. Some 30% of the state lottery will be sold... the sell-off will reduce treasury income by about €1bn a year... The government also plans to auction off Madrid's Barajas airport and Barcelona's El Prat by the end of the year...

Portugal:  Neighbouring Portugal is in even starker need of money after accepting a €78bn bailout... The newly elected prime minister announced a rush sale of state holdings in the utility company Energias de Portugal and the power-grid operator REN by October... (The goal is to) sell off up to 49% of water utilities as well as several state media interests, reportedly including television and radio channels, plus the national news agency Lusa.

The state airline TAP and the airport owner ANA – which runs airports in Lisbon, Faro, Oporto and the Azores – are also due to be sold along with the insurance business of the state-run bank CGD.

Britain:  The coalition government in Westminster is in the process of selling off the 49% state stake in the air traffic control service Nats, decommissioned naval ships and its own collection of fine wine..."

~ When a nation sells off its infrastructure and internal means of generating tax revenue to outside entities, it ultimately ceases to become a nation, except in name only

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