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Title: Iceland Declares Independence from International Banks
Source:
Netright Daily
URL Source: http://netrightdaily.com/2011/04/ic ... rnational-banks/#ixzz1KueqgkRP
Published: Apr 29, 2011
Author: Bill Wilson
Post Date: 2011-04-29 15:31:19 by X-15
Keywords: None
Views: 278
Comments: 18
Iceland is free. And it will remain so, so long as her people wish to remain autonomous of the foreign domination of her would-be masters — in this case, international bankers. On April 9, the fiercely independent people of island-nation defeated a referendum that would have bailed out the UK and the Netherlands who had covered the deposits of British and Dutch investors who had lost funds in Icesave bank in 2008. At the time of the bank’s failure, Iceland refused to cover the losses. But the UK and Netherlands nonetheless have demanded that Iceland repay them for the “loan” as a condition for admission into the European Union. In response, the Icelandic people have told Europe to go pound sand. The final vote was 103,207 to 69,462, or 58.9 percent to 39.7 percent. “Taxpayers should not be responsible for paying the debts of a private institution,” said Sigriur Andersen, a spokeswoman for the Advice group that opposed the bailout. A similar referendum in 2009 on the issue, although with harsher terms, found 93.2 percent of the Icelandic electorate rejecting a proposal to guarantee the deposits of foreign investors who had funds in the Icelandic bank. The referendum was invoked when President Olafur Ragnur Grimmson vetoed legislation the Althingi, Iceland’s parliament, had passed to pay back the British and Dutch. Under the terms of the agreement, Iceland would have had to pay £2.35 billion to the UK, and €1.32 billion to the Netherlands by 2046 at a 3 percent interest rate. Its rejection for the second time by Iceland is a testament to its people, who feel they should bear no responsibility for the losses of foreigners endured in the financial crisis. That opposition to bailouts led to Iceland’s decision to allow the bank to fail in 2008. Not that the taxpayers there could have afforded to. As noted by Bloomberg News, at the time the crisis hit in 2008, “the banks had debts equal to 10 times Iceland’s $12 billion GDP.” “These were private banks and we didn’t pump money into them in order to keep them going; the state did not shoulder the responsibility of the failed private banks,” Iceland President Olafur Grimsson told Bloomberg Television. The voters’ rejection came despite threats to isolate Iceland from funding in international financial institutions. Iceland’s national debt has already been downgraded by credit rating agencies, and now those same agencies have promised to do so once again as punishment for defying the will of international bankers. This is just the latest in the long drama since 2008 of global institutions refusing to take losses in the financial crisis. Threats of a global economic depression and claims of being “too big to fail” have equated to a loaded gun to the heads of representative governments in the U.S. and Europe. Iceland is of particular interest because it did not bail out its banks like Ireland did, or foreign ones like the U.S. did. If that fervor catches on amongst taxpayers worldwide, as it has in Iceland and with the tea party movement in America, the banks would have something to fear; that is, the inability to draw from limitless amounts of funding from gullible government officials and central banks. It appears that the root cause is government guarantees, whether explicit or implicit, on risk-taking by the banks. Ultimately, such guarantees are not necessary to maintain full employment or even prop up an economy with growth, they are simply designed to allow these international institutions to overleverage and increase their profit margins in good times — and to avoid catastrophic losses in bad times. The lesson here is instructive across the pond, but it is a chilling one. If the U.S. — or any sovereign for that matter — attempts to restructure their debts, or to force private investors to take a haircut on their own foolish gambles, these international institutions have promised the equivalent of economic war in response. However, the alternative is for representative governments to sacrifice their independence to a cadre of faceless bankers who share no allegiance to any nation. It is the conflict that has already defined the beginning of the 21st Century. The question is whether free peoples will choose to remain free, as Iceland has, or to submit.
Poster Comment: In other news, Obama set to declare war on Iceland for harboring radicalized Islamo-fascists who threaten Israel....
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#1. To: X-15 (#0)
Iceland could turn out to be richer than Switzerland.
U.S. Constitution - Article IV, Section 4: NO BORDERS + NO LAWS = NO COUNTRY
Bravo! Iceland.
Somewhere in Kenya, a village is still missing its idiot.
It is the conflict that has already defined the beginning of the 21st Century. The question is whether free peoples will choose to remain free, as Iceland has, or to submit. Bottom line - at NO TIME should the citizenry of a country be required to pay off the losses of the Banksters. They are basically a criminal organization and the only way to bring them under control is tell them to take their losses and pay them out of their own pocket. A private institution and its profligate and corrupt practices should NEVER be the obligation of the general public.
The last country to do that was Germany in 1932. Then in March 1933... www.biblestudysite.com/judea%20declares%20war%20-800px.jpg Just sayin'...
Some threat. More like a win-win situation.. lol
Solutions for Ireland. Say NO to the IMF/World bank. Default on our debt. Print our own debt free currency. Nationalise the trillion euros worth of gas and oil off our west coast. Take back our fishing (200 billion worth). Get our farmers growing again. Done deal if our politicians had the backbone. ~ Jim Corr
They just have to keep any fiat jiz bankers from entering their country forever more. They'll be fine.
Somewhere in Kenya, a village is still missing its idiot.
No one forced Germany to attack anyone. Who's Iceland going to attack?
They have given us into the hand of new unhappy lords. Lords without anger and honor, who dare not carry their swords. They fight by shuffling papers; they have bright dead alien eyes; They look at our labor and laughter as a tired man looks at flies. - G.K. Chesterton
Some threat. More like a win-win situation.. Hee, hee. Precisely. What the banksters are pouting over is having to cover their own losses out of their own money. "Harummmmph! Why the nerrrrrrrrrrvvvvvvvvvvvve of some people."
Fuck the Union !
Democracy: “a government of the masses. Authority derived through mass meetings or any other form of direct expression. Results in mobocracy. Attitude towards property is communistic-negative property rights. Attitude toward law is that the will of the majority shall regulate, whether it is based upon deliberation or governed by passion, prejudice and impulse, without restraint or regard to consequences. It results in demagogism, license, agitation, discontent, anarchy.” The 1928 Army Field Manual
Exactly, I live under it's rule!
Solutions for Ireland. Say NO to the IMF/World bank. Default on our debt. Print our own debt free currency. Nationalise the trillion euros worth of gas and oil off our west coast. Take back our fishing (200 billion worth). Get our farmers growing again. Done deal if our politicians had the backbone. ~ Jim Corr
In hindsight, these big unions seem to be a really bad idea. The former Soviet Union, the EU, the US, etc. Seems all they manage to do is fuck more citizens, faster & harder. I sure wouldn't mind seeing the US broken up into 50 little, impotent nation-states, rather than being one big colony of Israel.
"Harummmmph! Why the nerrrrrrrrrrvvvvvvvvvvvve of some people." As long as the Icelandics don't have to keep voting til they get it right! lol
Solutions for Ireland. Say NO to the IMF/World bank. Default on our debt. Print our own debt free currency. Nationalise the trillion euros worth of gas and oil off our west coast. Take back our fishing (200 billion worth). Get our farmers growing again. Done deal if our politicians had the backbone. ~ Jim Corr
And going a lot further back in history, there was some attempt at a federal union sometime in the 1800s in Central America, that failed. Another attempt to unite Arab state in the early 50s to the early 60s, that failed too and it only had three countries in it anyway! lol Edit: Even when two or more countries are culturally near identical, the thought of a union is still unthinkable. I, as an Irishman for example, would find the idea of uniting Ireland with Scotland unthinkable!
Solutions for Ireland. Say NO to the IMF/World bank. Default on our debt. Print our own debt free currency. Nationalise the trillion euros worth of gas and oil off our west coast. Take back our fishing (200 billion worth). Get our farmers growing again. Done deal if our politicians had the backbone. ~ Jim Corr
This appears very good. The elite will have to stop this of course or Iceland will become a model of what freedom from central bankers can mean to a nation.
God is always good!
I don't know what they have planned for Iceland, but I am sure it is not good. With Iceland being such a small nation they might just boycott them until they become obedient again. It would be great if Iceland was self-sufficient but I don't think they are.
God is always good!
I understand I think. Who would want to unite with a bunch of male kilt wearers. I am assuming Irish men don't wear kilts.
God is always good!
Polish Jews murdered thousands of Germans living in what use to be part of Germany before WW1 just before Germany attacked Poland. The attack of Poland by Germany was absolutely justified to defend these Germans.
God is always good!
We have kilts actually, just not as established culturally as Scotland. lol
Solutions for Ireland. Say NO to the IMF/World bank. Default on our debt. Print our own debt free currency. Nationalise the trillion euros worth of gas and oil off our west coast. Take back our fishing (200 billion worth). Get our farmers growing again. Done deal if our politicians had the backbone. ~ Jim Corr
#2. To: HAPPY2BME-4UM (#1)
#3. To: X-15 (#0)
The lesson here is instructive across the pond, but it is a chilling one. If the U.S. — or any sovereign for that matter — attempts to restructure their debts, or to force private investors to take a haircut on their own foolish gambles, these international institutions have promised the equivalent of economic war in response. However, the alternative is for representative governments to sacrifice their independence to a cadre of faceless bankers who share no allegiance to any nation.
#4. To: Lod (#2)
Bravo! Iceland.
Mike Flaherty: Yeah, it's been there a long time. I wish I knew which corner.
My Man Godfrey (1936)
#5. To: X-15 (#0)
But the UK and Netherlands nonetheless have demanded that Iceland repay them for the “loan” as a condition for admission into the European Union.
#6. To: Esso (#4)
#7. To: Esso (#4)
The last country to do that was Germany in 1932.
#8. To: irishthatcherite (#5)
But the UK and Netherlands nonetheless have demanded that Iceland repay them for the “loan” as a condition for admission into the European Union.
#9. To: irishthatcherite (#5)
Some threat. More like a win-win situation.. lol
#10. To: noone222 (#9)
Fuck the Union !
#11. To: irishthatcherite (#10)
Mike Flaherty: Yeah, it's been there a long time. I wish I knew which corner.
My Man Godfrey (1936)
#12. To: Original_Intent (#8)
Hee, hee. Precisely. What the banksters are pouting over is having to cover their own losses out of their own money.
#13. To: Esso (#11)
(Edited)
In hindsight, these big unions seem to be a really bad idea. The former Soviet Union, the EU, the US, etc. Seems all they manage to do is fuck more citizens, faster & harder. I sure wouldn't mind seeing the US broken up into 50 little, impotent nation-states, rather than being one big colony of Israel.
#14. To: X-15 (#0)
#15. To: Esso (#4)
#16. To: irishthatcherite (#13)
I, as an Irishman for example, would find the idea of uniting Ireland with Scotland unthinkable!
#17. To: Turtle (#7)
(Edited)
No one forced Germany to attack anyone.
#18. To: RickyJ (#16)
I understand I think. Who would want to unite with a bunch of male kilt wearers. I am assuming Irish men don't wear kilts.
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