Donetsk nationalizes banks for the good of its people

The Kiev regime had ostentatiously cut off pensions and other social benefits it owed to residents of the Lugansk and Donetsk regions. Kiev regime boss Poroshenko formally promised at the Minsk 2 accords to resume these payments, but so far has failed to do so. But now the DPR has stepped in to make the payments for April, using the nationalized bank branches formerly controlled by the oligarch Ihor Kolomoyskyi. Shown are pensioners and others lining up at a branch across from the Donetsk National University to get their checks.

    

In a tiny corner of Eastern Europe, a fledgling Republic struggling with the day-to-day hurdles of warfare and shaky ceasefires, has succeeded in doing what has long been overdue in the most powerful nation on the face of the earth - it has nationalized its out-of-control banks and put them to use for the good of the people.

While the DPR was not faced with a privatized central bank such as the United States and other nations due to the fact that DPR is a breakaway bloc and a new nation separated from the Kiev central bank, it was nonetheless host to a number of larger banking institutions that not only parasitized the people of DPR and Ukraine but also did nothing to improve the infrastructure of these areas or the living standards of the people there.

Emerging out of the stage of mere bands of militias and governing committees, the Donetsk People's Republic is now in the process of putting together a formal government. Its plans to nationalize banks that have parasitized Ukraine for years have no doubt drawn the ire of not only the oligarchs that own those banks but the Anglo-American banking cartel that essentially owns the United States and NATO countries and who are bent on world hegemony and submission to their will.

The plans to nationalize banks within the borders of the DPR were announced as early as January, 2015.

By April 2015, however, those banks have now been nationalized and the oligarch owners castrated in their ability to manipulate the economy and political sphere, at least in this specific instance. As Roger Annis wrote for Counterpunch, "A nascent banking system has been established in the two republics by nationalizing the banks of the billionaire bankers, notably the Privat Bank of the rightist oligarch Igor Kolomoisky."

It should be pointed out that Kolomoisky is not only one of the richest men in Ukraine but one who has been a fervent supporter and contributor to the Euro-maidan color revolution cause as well as the current fascist and Nazi government operating from Kiev along with Western support. Indeed, Kolomoisky was even appointed governor of Dnepropetrovsk by the fascist Ukrainian government.

Having been nationalized, these banks are now apparently going to be used for investment in infrastructure for the people of the DPR. This infrastructure is expected to be used for roads, sanitation, and other public services but also for the purposes of industrial infrastructure and transportation. If the DPR plan moves forward in this manner, it will be a breath of fresh air and an example to the world, at least in the area of the potential for progress and development by use of a nationalized banking system as opposed to private banking alone and certainly to a privatized central bank such as the Federal Reserve.

One can only hope that the DPR bank nationalization will be able to overcome sanctions and embargoes and become a beacon for the rest of the world.

However, one thing is for certain - it will become a beacon for the Anglo-American war machine. As evidenced by American military involvement and targeting of virtually every other nation across the world without a privatized central bank, it is clear why NATO and the US has stepped up its attempts to destroy the new Republic before it ever has a chance to take root. There is no mistake that the United States has increased its moves to support the Kiev government in overtaking the DPR as of late. Indeed, providing political cover for fascist forces attempting to destroy the DPR, misrepresenting ceasefire violations as the fault of the "separatists," and the arming and training of the Kiev fascist forces have gradually increased over the last several months.

While vast oil reserves, oil pipelines, opium fields,[1] strategic positioning, no-bid contracts for the defense industry and military-industrial complex, mineral deposits, and geopolitical concerns are all known reasons for American military adventures overseas, the goal of total domination of the world by the privatized private banking cartel complete with central banks, cannot be overlooked.

With the DPR's recent move, it has no doubt placed itself in the crosshairs of the Anglo-Americans and the war machine set out destroy any signs of independence and the use of government and banking for the benefit of the people. We can only wish the best for the people of the DPR while attempting to stop US involvement in their internal affairs at the same time.

Regardless of the economic decisions of the DPR, a refusal to continue to provoke the DPR's main supporter would also be a wise idea.