Please enlarge this thumb. It is a truly wonderful and easy way to understand how Iceland got into this unenviable position. It could ALSO serve as a warning to the rest of the planet, if it is not already too late.LISTEN UP FOLKS, AND LISTEN GOOD.
THIS IS ANOTHER HIDDEN CRISIS LARGELY IGNORED
IN NORTH AMERICA. THIS ONE
COULD EASILY HAVE VERY VERY SERIOUS IMPLICATIONS
FOR ALL OF US AT THE RATE
OUR FINANCIAL SITUATIONS ARE HEADING.
Infowars.comTHIS IS ANOTHER HIDDEN CRISIS LARGELY IGNORED
IN NORTH AMERICA. THIS ONE
COULD EASILY HAVE VERY VERY SERIOUS IMPLICATIONS
FOR ALL OF US AT THE RATE
OUR FINANCIAL SITUATIONS ARE HEADING.
January 15, 2010
Iceland may be the first Western democracy to be forced into South-American style debt-slavery. The IMF, in concert with the UK and the Netherlands, has attempted to strongarm the recently impoverished Island of 317,000 into paying over 3.6 billion pounds ($6.3bn) ~ $86,000 per Icelandic family ~ at 5.5% interest for the next generation.
Because of its isolation, the people of Iceland are among the fairest on the planet. And beautiful as attested to by this mother and her daughter.
In a nutshell this is what set events off:
The money is not conventional government debt, but arises from the collapse of a private multi-national bank during the financial crisis.
Iceland may be the first Western democracy to be forced into South-American style debt-slavery. The IMF, in concert with the UK and the Netherlands, has attempted to strongarm the recently impoverished Island of 317,000 into paying over 3.6 billion pounds ($6.3bn) ~ $86,000 per Icelandic family ~ at 5.5% interest for the next generation.
Because of its isolation, the people of Iceland are among the fairest on the planet. And beautiful as attested to by this mother and her daughter.In a nutshell this is what set events off:
Aan Icelandic bank, Landsbanki, started attracting UK depositors through its Icesave brand. When Landsbanki failed, the UK government bailed out those depositors in full. And now it wants that money back from the Icelandic government, which never guaranteed the Icesave deposits. ~ Seeking Alpha
The money is not conventional government debt, but arises from the collapse of a private multi-national bank during the financial crisis.
The issue is so serious that the entire nation will vote on the issue towards the end of February 2010.
On December 30, 2009, after extraordinary diplomatic threats, Iceland’s parliament passed narrowly a bill agreeing to pay the onerous terms. Only a few months earlier parliament had agreed to the full amount, but under more reasonable conditions.
The people of Iceland must be internationally supported, so they can feel safe in voting down debt-slavery. If Iceland falls, it won’t be long before other countries suffer similar financial extortion.
There is a reason people hate the IMF for what it does.
Below.The city core of Reykjavik.
Thank you so much for posting this very very critical issue of The Shock Doctrine in Iceland.
ReplyDeleteI hope and pray that the people of Iceland can be saved. If you are interested in finding out more about this country, I highly recommend a video called Heima, which documents Sigur Ros' music tour around this beautiful, stark, independent country and its unique people . Of course, the vampires of the IMF/World Bank would have to destroy it if they can. That's what they do. I'm adding your blog to my links. Thanks for your hard work on this issue.... Regards,