By Dr. Norman D. Livergood
The people of Iceland have demonstrated what citizens of all nations should do:
Reject the fraudulent idea that debts perpetrated by capitalist leaders should be borne by "the people"Arrest and convict capitalist leaders who commit political and economic crimes
The people of Iceland twice voted not to repay international debts incurred by banksters, rejecting the idea that "the people" are responsible for bankster debts.
He had little experience or interest in the world beyond Iceland. His Locomotive group protégé Geir Haarde, finance minister from 1998 to 2005, took over as prime minister shortly after. These two men most directly steered Iceland's great experiment to create an international financial centre in the North Atlantic, midway between Europe and America.
Income and wealth inequality surged, helped by government policies that shifted the tax burden to the poorer population. The bankers made large financial contributions to the governing parties and giant loans to key politicians. The leading Icelandic champion of free-market economics declared in The Wall Street Journal: "Oddsson's experiment with liberal policies is the greatest success story in the world."
"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." ~ Source
So far, Iceland has experienced smaller falls in GDP and employment than big public-spending slashers like Ireland, Estonia and Lithuania. The unemployment rate, only 2% in 2006, has been between 7% and 9% since 2009; but the rate of outmigration, of Icelanders and other European workers (predominantly Polish), has been the highest since 1889. However, the SDA-LGM government has announced drastic cuts in public spending for 2011 and beyond. Local governments have no budget for fresh projects. Hospitals and schools are cutting salaries and sacking employees. The freeze on house repossessions expired in 2010.
When a nation such as Iceland goes up against the global capitalist cabal, we can expect it to retaliate in any way possible. As of September, 2011, two cabal retaliatory operations have been launched against Iceland:
2. The current cabal U.S. puppet regime is planning economic sanctions against Iceland, using the excuse of whaling irregularities
The Icelandic example is one of genuine significance: citizens in all countries besieged by international capitalist vultures should refuse to bail them out when their criminal operations threaten the entire economy. But Iceland's example is also one of only partial success:
The Icelandic people failed to extricate themselves from their capitalistic economyThey failed to eradicate their capitalist ruling juntaThey failed to institute a cooperative commonwealth economy for the benefit of all citizens ~ even though their writing a new constitution gave them the perfect opportunity to do so
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