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How Iceland Overthrew The Banks: The Only 3 Minutes Of Any Worth From Davos

Tyler Durden's picture





 

"Why do we consider banks to be like holy churches?" is the rhetorical question that Iceland's President Olafur Ragnar Grimson asks (and answers) in this truly epic three minutes of truthiness from the farce that is the World Economic Forum in Davos. Amid a week of back-slapping and self-congratulatory party-outdoing, as John Aziz notes, the Icelandic President explains why his nation is growing strongly, why unemployment is negligible, and how they moved from the world's poster-child for banking crisis 5 years ago to a thriving nation once again. Simply put, he says, "we didn't follow the prevailing orthodoxies of the last 30 years in the Western world." There are lessons here for everyone - as Grimson explains the process of creative destruction that remains much needed in Western economies - though we suspect his holographic pass for next year's Swiss fun will be reneged...

 


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Sat, 01/26/2013 - 22:05 | Link to Comment Yen Cross
Yen Cross's picture

I shorted the Yen Crosses.

Sat, 01/26/2013 - 22:09 | Link to Comment markmotive
markmotive's picture

“The ideal system, the one that we should aim at, is not a system where a bank can’t fail, but a system where a bank can fail without it being a problem, without the taxpayer having to come and rescue it … Occupy the central banks that have printed the money in order to get around the failures of a handfull of banksters! Occupy the houses of the politicians who voted to give your money to people who are not prepared to live with the consequences of their own errors!”

 

http://www.planbeconomics.com/2013/01/26/mep-daniel-hannan-corporatism-i...

Sat, 01/26/2013 - 22:34 | Link to Comment DaveyJones
DaveyJones's picture

that makes too much sense. Go to prison

Sat, 01/26/2013 - 22:49 | Link to Comment Stackers
Stackers's picture

March 2013 ...... in other news Iceland President Olafur Grimsson died mysteriously in his sleep last night. He apparently shot himself in the back of the head from 20' away while sleep walking.

Sun, 01/27/2013 - 00:50 | Link to Comment Buckaroo Banzai
Buckaroo Banzai's picture

In related news, whores in Davos swallowed a record amount of semen this year, breaking the 2009 record of 384 liters.

Also, 2309 children were sexually molested, up from 2011's record of 2192.

Satanic ritual slaughter of infants was down this year, due mainly to concerns of how to dispose of the remains, given some unforeseen circumstances. It was determined that Moloch will have to be fully appeased at Bohemian Grove; organizers have given their assurances that steps are being taken to accommodate the local infrastructure accordingly.

Sun, 01/27/2013 - 00:55 | Link to Comment strannick
strannick's picture

Icelandic President: "Why are banks considered to be the holy churches of the modern economy?"  

A: Because the modern economy is evil

Sun, 01/27/2013 - 00:58 | Link to Comment Buckaroo Banzai
Buckaroo Banzai's picture

13 No servant can serve two masters: for either he will hate the one, and love the other; or he will hold to the one, and despise the other. You cannot serve God and mammon.

Luke 16:13

Sun, 01/27/2013 - 01:08 | Link to Comment Bananamerican
Bananamerican's picture

+1

by the way, President Olafur Ragnar Grimson is a liar.

"we smacked the banks" is an Icelandic meme

Sun, 01/27/2013 - 01:40 | Link to Comment ISEEIT
ISEEIT's picture

Likely...These fucks do love their memes eh?

Sun, 01/27/2013 - 05:26 | Link to Comment Bananamerican
Sun, 01/27/2013 - 07:06 | Link to Comment Svendblaaskaeg
Svendblaaskaeg's picture

"I could talk about how the banks are again expanding and playing the exact same game they did in the bubble. I could go on and on but if you haven’t been listening so far, nothing else I have to say will convince you.

Of course, that means that you are an idiot who refuses to acknowledge facts, but, thankfully, being a moron is your burden to bear, not mine."

 

Great read! (link) - thank You Sir!

Sun, 01/27/2013 - 08:00 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

A moment of silence in Davos.....for our fallen comrades.

 

It only took three minutes to explain it.......that seems foreboding.

 

read it and weep, meme-swallowers of ZH...

 

I read it....the IMF and BIS are zombies....of course they will try to come back again.

Sun, 01/27/2013 - 10:41 | Link to Comment nom deplune
nom deplune's picture

I read it....the IMF and BIS are zombies....of course they will try to come back again.

 

HeHeee, keep this shit coming bro, pure genius I say, pure genius.

Sun, 01/27/2013 - 17:10 | Link to Comment James_Cole
James_Cole's picture

Bananamerican did you even watch the clip?

Here were his main bullet points:

- implemented currency controls

- let banks fail

- didn't introduce austerity to extent in Europe

None of that is in conflict with the article you linked to and overall three sensible points. How many people on here support debasement of currency, bailing out banks and Greece style austerity? 

Sun, 01/27/2013 - 18:55 | Link to Comment Muppet Pimp
Muppet Pimp's picture

OT:

Why is the US mint out of silver while HSBC buys it no problemo from the poles?  Is US .gov complicit in allowing a known money launderer to secure supply (presumably to cover short positions) while they hold out on their people?

(posting on a few threads, it is important)

Sun, 01/27/2013 - 12:47 | Link to Comment riley martini
riley martini's picture

 Banana here is the so-called selout to banksters #1 Hung up on UK FM .#2 lied to banksters about banks .#3 Announced on tv that creditors-banksters would not be bailed out . #4 would only agree to noncommittal loan which they knew the bankster would never accept . That was on your  link.

Mon, 01/28/2013 - 01:21 | Link to Comment rotagen
rotagen's picture

Thanks for confirming my suspicions Bananamericanamanoman or whatever.  You can't kill a central bank unless you...kill them.

Sun, 01/27/2013 - 17:23 | Link to Comment iinthesky
iinthesky's picture

Nothing says it better!!!!!

Sun, 01/27/2013 - 01:38 | Link to Comment ISEEIT
ISEEIT's picture

Bingo was his name-o

Sun, 01/27/2013 - 11:30 | Link to Comment nmewn
nmewn's picture

This article has over five hundred tweets so far...something tells me its not the article itself, as much as what was offered in bananamerican, hooligan's and espirit's linkage within the comment section ;-)

Sun, 01/27/2013 - 14:07 | Link to Comment Fíréan
Fíréan's picture

Wishful thinking.  How many people actually read the comments sections ? And when you tweet do you emphasis that the reason for the tweet was a link somewhere down the page amongst all the comments ? And then expect the recipient of the tweet to actually browse the comments to find the relevant tweet ?

Sun, 01/27/2013 - 17:14 | Link to Comment nmewn
nmewn's picture

Yes, I suppose its impossible to think the tweeters would be saying in their text to scroll down to the 10th comment link ;-)

Sun, 01/27/2013 - 18:37 | Link to Comment serog
serog's picture

 

why not just post the intended link?

Sun, 01/27/2013 - 22:14 | Link to Comment nmewn
nmewn's picture

ZH carries more weight?

Its over a thousand (tweets) now...we saying the rather innocuous main article has that much interest?

Someone(s) are definitely interested in the subject & the subtext...people want truth, they are tired of being lied to.

Sun, 01/27/2013 - 13:25 | Link to Comment Theosebes Goodfellow
Theosebes Goodfellow's picture

~"Satanic ritual slaughter of infants was down this year..."~

Yeah, maybe in Davos, but we made up for it in the USA. Thanks to "Planned Parenthood", (an oxymoron if you ever heard one), they weren't born in droves here. (My apologies to the late Samuel Goldwyn.) 

Sun, 01/27/2013 - 14:32 | Link to Comment NoTTD
NoTTD's picture

In the alternative, he accidently cut his head off while shaving.

Sat, 01/26/2013 - 22:49 | Link to Comment economics9698
economics9698's picture

It is always amazing the solution to getting people back to work is arresting and jailing a few hundred people.

Y = C + I – G + NX

Sat, 01/26/2013 - 23:21 | Link to Comment LetThemEatRand
LetThemEatRand's picture

"...we provided support for the poor...."

I'll bet a lot of those here cheering him on glossed over that part, yet it is a critical part of the equation.   Ayn Rand would not be proud, because she was an idiot as proven quite clearly by this part of the Icelandic success story.  

Sat, 01/26/2013 - 23:37 | Link to Comment Jack Burton
Jack Burton's picture

 Indeed, Iceland made provisions as far as possible to help get society through the financial disaster. No Icelanders were sleeping in their cars like in today's Spain! I have spent a lot of time in Scandinavia, Sweden in particular, but also been to Iceland, Norway and Denmark.  I speak Swedish fluently and that is where my father's parents were born and grew up.

What I know from reading many economics blogs, the comments sections in particular, is that very few who comment on Scandinavian economic and social systems  know much of the reality there.

I agree, Iceland is anything but an Ayn Rand type society. MS Rand is not in our genes I can tell you! But if you want to talk hard work, industry, competence, the work ethic, industrial and technological inovation, I will hold up Scandinavia to any nations.  Most Americans call Sweden a socialist hell hole. That can only come from a lack of knowledge.

I have family and friends in Sweden who are corporate executives, high tech developers, industrial managers, private farmers, and business owners. Go live with them in Sweden like I have, and tell them they are part of a socialist hell hole. Now that would pull a laugh or two! The welfare state is well known, and well managed. It has it's detractors and supporters, but the decisions are made in a democracy with free open and fair elections. So people have a right to arrange their own nation.

Sun, 01/27/2013 - 00:01 | Link to Comment Al Gorerhythm
Al Gorerhythm's picture

What's their M3 rate of growth annualized? Do they use gold and silver as money there?

Sun, 01/27/2013 - 00:13 | Link to Comment AUD
AUD's picture

This article is complete bullshit.

Just go here to see how Iceland 'did it'.

The average Icelander has been screwed hard & will get it all again soon enough.

Sun, 01/27/2013 - 01:03 | Link to Comment All Risk No Reward
All Risk No Reward's picture

Exactly.  The banksters let them win a win a Pyrrhic victory while they concentrate on moppin gup all the chumtocracies over which these criminal kleptocrats rule.

You have to remove THE ROOT CAUSE if you want to get ride of the bad effects.

The root cause is the fraud that is debt based money.  It is Debt Money Tyranny. 

Debt Money Tyranny

http://www.keepandshare.com/doc/4768883/debtmoneytyranny-6-1-pdf-60k?tr=77

America has been under a soft (now hardening) financial tyranny (a very real tyranny) for a hundred or more years.

Stacking criminal fractional reserve Ponzi lending on this fraud only weaponizes this highest level Art of War the world has ever seen.

Lady (the rumors are true, there is only one lady who visits ZH ;-) and Gentlement, war **is** all about deception.

The victims of the highest state of the art warriors DON'T EVEN KNOW THEY ARE IN A WAR.

The Art of War wwarriors never have to throw a blow.

Yes, they've constructed it and they have it like that.

The average schmoe thinks these people are dumb.  Oh, making the sheeple think they are smart and the authoritarian tyrants stupid is all part of the highest Art of War.

Read the book.  You enemy probably knows it by heart.

As if Debt Money Tyranny and fractional reserve Ponzi lending wasn't enough...  they unleashed the bucket shop and stomped on anyone that got in the way...  Netflix "The Warning".

Another good Netflix movie is ironclad.  The chumptocracy thinks the tyrants are the keepers of their freedom.  Ignorant chumps.

The people have to FIGHT their government tyrants, TOOTH AND NAIL, to hold onto the freedoms the tyrants which to snuff out.

The Barons of Runnymede understood this well.  Even when the tyrant was claiming to allow freedom, he was scheming to dominate all who wanted freedom - and destroy those who wouldn't be dominated.

A true education of the masses is the only thing that will keep these criminals from having their way with society.

You are either part of the solution or part of the problem.

We are up against cold hearted, demon spawn tyrants.  They love death and have probably a billions dead souls to their name...  and that's not enough for them.

They love violence, wars, etc.

For all his good traits and failings, Alex Jones has it dead on - this is an information war.

The system sucks the minds out of citizens and spits them out. 

Someone, somewhere has to light that spark and let people know the system only works BECAUSE WE LET IT WORK.

Once the trick of the modern day Babylon system is exposed, it is impossible to forget!

The scientific dictatorship reveals itself right before our eyes... and in all its demon spawn glory.

Sun, 01/27/2013 - 03:34 | Link to Comment IBelieveInMagic
IBelieveInMagic's picture

Paper and electronic money has been very good for the Western world at the expense of the commodity/third world. The loot has obviously not been distributed evenly but as a whole, it has been great for OECD countries.

Just deal with it.

Sun, 01/27/2013 - 04:16 | Link to Comment All Risk No Reward
All Risk No Reward's picture

Focus on reality, not the ILLUSION.

The physical wealth is the temporary ILLUSION.

The inextinguishable debt is the REALITY.

America is an impoverished entity.  Sure, many have physical wealth now, BUT THAT'S TEMPORARY.

The Debt Money Tyrants and their fraudulent debt system is impoverishing America ever more as each day passes.

Same with Europe.

Yes, the 3rd world has been royally (literally) forked and these criminals didn't even bother with an ILLUSION there.

But don't think the common person in America is going to hold onto their $10 in physical wealth when they owe $15.

Not.

Gonna.

Happen.

This is where the controlled opposition narrative of straight to hyperinflation is wrong, wrong, wrong.

The mega banks control the debt money supply.  The debt money supply will determine what sort of 'flation we end up with.

The mega banks are lending 15 years at 2.5% and 30 years at 3.0%.

Celente, Alex Jones, Faber, Ron Paul, Schiff NEVER, EVER, EVER DISCUSS THE DATA THAT PROVES THEIR THESIS WRONG.

EVER.

Ideology over observation and critical thinking (The Trivium - grammer (data - who what where when), logic (why - eliminate contradictions and fallacies) and rhetoric (how)... there is a reason they don't teach in the sheeple schools what served Socrates so well).

BTW, I get good information from all of the above "personalities," but the "straight to hyperinflation" meme is not part of it.

Sun, 01/27/2013 - 08:18 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Critical thinking.....when idiots run out of gas.

Sun, 01/27/2013 - 10:44 | Link to Comment nom deplune
nom deplune's picture

Critical thinking.....when idiots run out of gas.

 

Now that's funny coming from youI'll actually give you an up for use of irony.

Sun, 01/27/2013 - 11:54 | Link to Comment unununium
unununium's picture

Is anyone else getting numerous 0% credit card offers again?  Is appears that lack of lending is not for lack of trying ... at least with some prospects.

Sun, 01/27/2013 - 12:33 | Link to Comment Backspin
Backspin's picture

"The mega banks are lending 15 years at 2.5% and 30 years at 3.0%."

 

The banks have no skin in the game on these loans.  They don't care that much if the rates are low.  All profit and no risk for them.  But, yes, contraction of the debt-money would be deflationary, and they can't force people to borrow.

 

The inflation will come from government spending, IMO.  And that is showing no signs of abating.

 

Please correct me if I'm wrong, people.

 

Sun, 01/27/2013 - 12:57 | Link to Comment disabledvet
disabledvet's picture

"if the best the Government can do is pay down the deficit to surplus" then no, what inflation there will be will be de-minimus since "the totality of the people have stopped paying for that." to counter-act the power of the Banker-MEDIA complex you need to "force" a particular honesty on the criminals committing the crime and getting away with it. And how does that happen? To me it's as simple as showing the world that only thinking of yourself and getting rewarded for it MUST HAVE AN ALTERNATIVE. And no...i'm not talking about going to church more...

Fri, 02/01/2013 - 01:50 | Link to Comment All Risk No Reward
All Risk No Reward's picture

disabledvet, if you haven't already, check out the PeaceRevolution podcast.

http://peacerevolution.podomatic.com/

Don't go in with a preconceived notion based on the name - it is actually a thought provoking podcast that deconstructs the fallacies and inconsistencies of society and the dElites running it.

You might want to start with this Richard Grove interview...

http://legalise-freedom.com/radio/richard-grove-what-we-can-all-learn-fr...

Sun, 01/27/2013 - 15:20 | Link to Comment All Risk No Reward
All Risk No Reward's picture

"The banks have no skin in the game on these loans."

One distinction.  The banks don't matter, its the people who own and control the banks that matter.

Chess pieces aren't valuable unless they can help the CHESS MASTER win their Art of War implementation.

Having said that, the OWNERS seem particularly interested in protecting their TBTF&J banks and banksters.

Saying the OWNERS have "no skin in the game" is akin to saying they are impoverished.

By my count, they and their mega corporate fronts have trillions in Federal Reserve Debt receipts.

That translates into trillions in "skin in the game."  Are you worried about $100k?  Imagine how much they are worried.

So why are they looting the Treasury of more trillions and gambling on food stuffs jacking the prices for the common person?

The answer is in the question as posed.

WHO is it that owns trillions in debt instruments?  Oh, that would be the small OWNER class.

Sure, the government says they will back stop all their losses, but that will get risky as they default on 350 million commoners.

That's why they are offloading as much debt as possible NOW, before the pain hits the narcissistic high end prole class.

The OWNERS and CONTROLLERS of the system have more skin in the game than anyone - and they will protect it as assuredly as they are looting the Treasury and ripping off the tax payer Muppet's face right now.

Tails the OWNERS wins, heads everyone else loses.

Anyone with trillion in debt money receipts (money) and trillions more in debt holdings will defend that from loss.  Right now, they are stealing more than they are losing to inflation, so the NET GAIN IS POSITIVE FOR THEM.

That trend is UNSUSTAIINABLE.  By definition it will end.

What comes next?

Do the trillionaires destroy their wealth and control by trying to save social security and medicare?

Or do they cut off credit, WHICH ONLY THEY CAN DO, bust almost everyone, and then foreclose on trillions in assets and buy up the rest of the world, for pennies on the dollar BTW after they bust us, with the trillions they've looted from society.

We literally pay for them to steal our wealth, destroy our liberties and set up their authoritarian rule over us.

I'm not funded by anyoone, hence I can tell the truth about this.  This message will not be funded by the International Banking Cartel.

It will be suppressed...  mostly by people not thinking critically about it BECAUSE it isn't promoted by bankster financed or promoted individuals who don't better or coldly set up the proles for poverty and enslavement.

Now, that's not to say hyperinflation won't happen.  Once these criminals have all the assets, they need to BALANCE THE BOOKS RIGHT?

A good hyperinflation will do that, will it not?

And since they will essentiall own the physical Earth by then, MONEY'S SOCIETAL ASSET STRIPPING characteristic will no longer need to be defended.

You have to do the research yourself to reach your own conclusion.  Don't just repeat bankster financed propaganda.  An understanding of Econ 101 (cost / benefit analyis) is required, as is the ability to remove contradictions.

The system will give you a million contradictions to confuse your thought process.  You need to be able to remove them.

For example...

1. Insiders are stupid

2. Insiders don't get charged when they commit ccrimes (Corzinie, JP Morgan, Jefferson County bribery, laundering $100s of billions in drug money (which is, miraculously, never recovered...  but that's not a problem, this is not the droid you are looking for), including running the drug money planes, armign the mega bank drug cartels that launder their money through mega banks, growing the heroin with tax payer dollars in Afghanistan, digitally raping innocent women on the roadside with the same glove...

Oh, don't believe it... pay attention!

http://www.infowars.com/women-suing-state-troopers-over-roadside-cavity-...

Torturing, eliminating the Constitution (you live today ONLY because the bankster handmaiden President decided not to kill you - no evidence, no trial, no jury.  They think you are so stupid, they don't even think you need a show a trial to control you.  Didn't kill you today, anyway.  Maybe tomorrow.)...  trying to steal paid off hotels from law abiding citizens...  oh, don't believe that one?

http://www.activistpost.com/2013/01/swartz-prosecutor-slammed-again-for....

...financing al Qaeda in Libya (Libya got their Debt Money tyranny central banking system, BUT WHO GOT GADDAFY'S GOLD?  WHO GOT GADDAFY'S BILLIONS IN JP MORGAN AND GOLDMAN SACHS INVESTMENTS?  WHAT, NO BANKSTER FINANCED PROPAGANDISTS ASKED THOSE QUESTIONS SO THEY DON'T MATTER, RIGHT?

I could go on and on.  And on and on.

In fact, here's two more...  The Fed lies about a dual mandate because they broke Section 2A of the Federal Reserve Act for 30 years running.  Their laws have no penalties, though.  You know, they were too "stupid" to give themselves penalties...  or were we too stupid to demand penalties?  Lastly, the government criminals (not fools, criminals) are trying to ban self defense weapons... but onoly for you.  You see, the don't get social security.  They don't get our "sick care."  Nor does the gun ban apply to them.

Only someonoe completely uninformed or brain dead stupid thinks that they are too stupid to not to exempt themselves from such great programs.

OK, one more.  Congress got busted criminally insider trading, fleecing the general public with insider information.  Since they were stupid, they all went to jail.  Uh, no.  The pretended that their crimes were legal and the stupid public bought it.  Congress then passed a law that LEGALIZED INSIDER TRADIING SO LOONG AS YOU GOT A "HANK PAULSON" EXEMPTION FROM OTHER INSIDER TRADERS.

I know who the FOOLS AREN'T.  Unfortunately, too few people know the same.  They fall for the art of war trick of making your opponent feel smart so s/he thinks you are dumb.

So, for those who read this far and can't figure out the contradition, THE INSIDERS DO WHAT THEY WANT, CRIMINAL OR NOT AND GET AWAY WITH IT OVER AND OVER AND OVER.

If they were "stupid" they'd get caught and thrown in jail.  They aren't stupid, WE ARE.

But we are so stupid, they pretend to be stupid AND WE, LIKE GALACTIC CHUMPS, FALL FOR THEIR TRAP....  NOT RESISTING THEIR EVIL BECAUSE WE THINK THEY ARE STUPID.

wake up!

Sun, 01/27/2013 - 07:36 | Link to Comment buckethead
buckethead's picture

I would simply switch the term 'root cause' to 'disease'.

In the US, we don't even bother treating the symptoms as we completely ignore the disease.

Sun, 01/27/2013 - 11:17 | Link to Comment Silver Bug
Silver Bug's picture

The banks have got a iron grip on the western world. But as this brave man shows, we can change our course if we stand up for our rights.

 

Keep Calm and Slave On, must see.

Sun, 01/27/2013 - 00:33 | Link to Comment wee-weed up
wee-weed up's picture

Jack Burton:

So, how have the government-sponsored Islamic immigrant polices helped Sweden and other Scandinavian countries avoid being called "socialist hell holes?" How are these folks assimilating into Swedish culture? Are those policies now regretted?

Sun, 01/27/2013 - 01:05 | Link to Comment Buckaroo Banzai
Buckaroo Banzai's picture

Bingo. Scandanavian socialism is just as fucked as every other brand of socialism. That fact wasn't quite as noticeable for the first 50 years. Now reality is catching up to them.

Sun, 01/27/2013 - 01:59 | Link to Comment Matt
Matt's picture

Except they have the advantage of virtually no immigration, legal or otherwise. It is much easier to have democracy and socialism when you have a homogenous society made of one ethnicity and one culture.

On top of the advantages that other Scandinavian countries have (above, and the general resource wealth scandinavian countries have) Iceland also has the advantage of a very small population. People are less likely to rob (i.e. squander the money of) other people they know personally. I'm sure it is the nebulous haze of unknown strangers that makes spending Other People's Money so easy for many people.

Sun, 01/27/2013 - 09:07 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Almost everyone in Greece dreams of moving to Sweden....rinse and repeat.

Sun, 01/27/2013 - 16:18 | Link to Comment Carl Spackler
Carl Spackler's picture

the Greeks...yeah, getting their feet under them on somebody else's dime, then moving back to Greece because it is depressingly cold and dark for half the year in Sweden

Scandanavian socialism is a structural economic failure just like socialism anywhere else in the world. 

It's just headed to destruction at a slower pace, because, like others have pointed out in this thread, they have no poor immigrants to deal with or take care of, they are significantly smaller societies, and they pay nothing out of their economy for national security, as the USA's navy and army protects them.

And, I have been to Iceland.  Other than abundant geothermal energy, there is nothing there.

Consequently, the national pastime is being intoxicated 24x7 on grain alcohol.

Sun, 01/27/2013 - 12:21 | Link to Comment CheapBastard
CheapBastard's picture

matt, you need to go there and see the latest. Downtown filled with MENA immigrants and some suburbs total ghettoes of MENA people outside of Stockholm. I was there last year...Be care at night...it's all different now...the wars in MENA world have created 100,000 refugees and they have flooded the EU...some places more then others.

Sun, 01/27/2013 - 12:35 | Link to Comment Buckaroo Banzai
Buckaroo Banzai's picture

No immigration??? When was the last time you were in Sweden? The country has been overrun with Muslim immigrants. Crime--especially rape-- has skyrocketed.

Socialism is a mental disease whose primary symptom is the denial of reality. Sooner or later reality intrudes, and destroys the illusion, resulting in social collapse. For the Swedes, the punishing agent of reality came in the form of Muslims.

Sun, 01/27/2013 - 12:35 | Link to Comment Cull Morgan
Cull Morgan's picture

> Except they have the advantage of virtually no
> immigration, legal or otherwise.

Sorry Matt, you're dead wrong on this one. Sweden, Denmark and Norway have had massive immigration for decades.

Sun, 01/27/2013 - 13:59 | Link to Comment FrankDrakman
FrankDrakman's picture

 

Except they have the advantage of virtually no immigration, legal or otherwise. It is much easier to have democracy and socialism when you have a homogenous society made of one ethnicity and one culture.

No, no, no! Diversity is the answer to EVERY problem. How can you solve anything without the input of the black, brown, red, and yellow people, without the valuable insights of the poor, unemployed, and unemployable, and without the unique perspective of the LGBTTSTGWTF community? Diversity good, homogenous bad, diversity good, homogenous bad, four legs good,...

Sun, 01/27/2013 - 18:22 | Link to Comment Moe Howard
Moe Howard's picture

exactly thanx.

Sun, 01/27/2013 - 04:32 | Link to Comment All Risk No Reward
All Risk No Reward's picture

Socialism doesn't exist.

Communism doesn't exist.

Capitalism doesn't exist.

Oligarchical dictatorships exist - some are in your face blunt and others are passive aggressive in their implementation of what Eisenhower called the scientific elite.

Orwell knew full well that the media would control the vocabulary and that the vocabulary would confound the proles.

Don't believe the message these criminal finance for you.

Believe history, believe in a critical thinking mechanism (The Trivium - a mental anti-virus, as it were), believe in yourself - NOT SOMEONE ELSE'S IDEA THAT WE SIMPLY REPEAT BECAUSE WE AREN'T FULLY ENGAGED.

When you read history, focus on one key element - DEVELOPING A THOERY OF HUMAN NATURE.  John Taylor Gatto recommended this in The Ultimate History Lesson (free on Youtube) and I think he's dead on.

Yeah, its scary when you think those terms, but that's reality folks.  Fear is a call to action - the information war is on right now as the system arms up for a physical confrontation with American citizens.

1. America declared a war Zone (NDAA)

2. The President can assassinate American citizens with no evidence, no trial, no jury, nothing (NDAA)

3. The Media and DHS are focused on anyone aware of the real criminals as the real nation hijacking criminals literally finance al Qaeda to disrupt the Middle East and knock of problem embassadors.

4. Purchase orders fo 1,600,000 bullets within the last year. 

5. Bullet Proof pill boxes were ordered by DHS.

6. Wheeled armoured vehicles with machine gun turrets are being set up in America.

Sun, 01/27/2013 - 07:41 | Link to Comment buckethead
buckethead's picture

Thank you. Labels serve to allow us to blame our neighbor who voted for "The ohter guy" when TSHTF. (There's a meme for you)

Meanwhile... back at corporate headquarters....

Sun, 01/27/2013 - 08:20 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Labels allow us to spot and mark the bad guys.

Sun, 01/27/2013 - 09:51 | Link to Comment buckethead
buckethead's picture

I am willing to become enlightened as to which are 'the bad guys'. Any suggestions?

 

Liberals? Bank Tellers? Teachers? Republicans? Christians? Muslems? Preppers? 

 

Label the bad guys.... Please! I don't like the bad guys.

Sun, 01/27/2013 - 10:06 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

I just call them crooks....but that's just me.

Sun, 01/27/2013 - 10:47 | Link to Comment nom deplune
nom deplune's picture

I just call them crooks....but that's just me.

 

Dude, commas are OK. Try one - less strokes.

 

Something tells me that doesn't bother you.

Sun, 01/27/2013 - 11:02 | Link to Comment nom deplune
nom deplune's picture

I just call them crooks....but that's just me.

 

Wow!

Bankers are crooks [X]

IMF and BIS are zombies [X]

Markets are snakepits [X]

 

The Wisdom of GZG - It kinda has nice ring to. You should write a book bro.

 

Sun, 01/27/2013 - 11:13 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

 

Anything else you'd like to know?

 

 

Sun, 01/27/2013 - 13:00 | Link to Comment disabledvet
disabledvet's picture

my little plastic pill box works just fine for my medicine. why would TPTB want bullet proof ones?

Sun, 01/27/2013 - 11:55 | Link to Comment toothpicker
toothpicker's picture

In Sweden (almost) everyone trust the state. In people's minds the state will take care of everything. No need for individual thought.

That's somewhat of a problem when the state has merged with big pharma, big banks & big everything

Sun, 01/27/2013 - 15:43 | Link to Comment Bunga Bunga
Bunga Bunga's picture

I tend to prefer a "socialist" democracy over a "capitalist" dictatorship.

Sun, 01/27/2013 - 01:16 | Link to Comment LetThemEatRand
LetThemEatRand's picture

"So, how have the government-sponsored Islamic immigrant polices helped Sweden and other Scandinavian countries avoid being called "socialist hell holes?""

Billions of human beings believe in a man who lives in the clouds or some variation.   Pretending it is not true does not make it go away, and debating the merits of a societal system that pretends it is not true is sophomoric or simply narcissistic.   Drive through rural Alabama some day and put on the radio and you'll find that half of the radio stations feature a completely insane person talking about Jesus.  Humanity is imperfect.  You can either accept that or masturbate to Any Rand novels.  

Sun, 01/27/2013 - 01:54 | Link to Comment wee-weed up
wee-weed up's picture

I could give a shit if you love or hate Ayn Rand...

But I don't buy your implied argument that Islam is just another one of the world's religions. No other religion is as intolerant  and barbaric. Hey, let's go kill some infidels! Or maybe I could interest you in being an Islamic woman? Honor killing... genital mutilation... what fun you'll have!

Sun, 01/27/2013 - 02:01 | Link to Comment Matt
Matt's picture

Look at the rape epidemic in Sweden and Norway. Now keep in mind, within 100 years there will likely be, baring mass starvation or sterilization, ten times as many muslims as there are now.

Sun, 01/27/2013 - 07:49 | Link to Comment buckethead
buckethead's picture

I would suggest an objective review of theaters of war throughout the globe (post-Viet Nam)

Oddly enough... non Islamic nations (read: predominantly Christian/Jewish) have been, and continue using military force to achieve some end. 

But there were those filthy Islamists that attacked us on 9-11....... Never forget .

Sun, 01/27/2013 - 09:20 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Funny how you never hear anything about Christians blowing themselves up. What's up with that?

Sun, 01/27/2013 - 09:30 | Link to Comment francis_sawyer
francis_sawyer's picture

All these 'religions' are the most effective forms of mind control in existence...

Sun, 01/27/2013 - 09:35 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

 

I prefer the ones that don't blow crap up.......just sayin.......and no I'm not going into the whole long debate.

 

Just keep it simple....you blow crap up...you gots to go.

Sun, 01/27/2013 - 10:00 | Link to Comment buckethead
buckethead's picture

The CIA has been 'blowin crap up' in the middle east since 1953. I agree with your assessment.

Sun, 01/27/2013 - 10:07 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Still haven't got all of them yet I see.

Sun, 01/27/2013 - 10:47 | Link to Comment francis_sawyer
francis_sawyer's picture

They're ALL responsible for 'blowing crap up' [in one way or another]... Once you are a subject of mind control, you see only what you're PROGAMMED to see... & frankly, that's one of the more effective parts of mind control... The 'splitting' of the mind in a way that you actually believe that you are free to choose & making choices of your own...

Sun, 01/27/2013 - 10:52 | Link to Comment nom deplune
nom deplune's picture

Funny how you never hear anything about Christians blowing themselves up. What's up with that?

 

No, they just use the military to blow other people up. /insert pithy phrase.

Sun, 01/27/2013 - 11:33 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

 

 

I need to tank up on some estrogen if we're going to proceed with the hysterics.

Sun, 01/27/2013 - 12:40 | Link to Comment Buckaroo Banzai
Buckaroo Banzai's picture

Virtually no one in a position of REAL power in the West is a Christian. They worship money, power, or Satan. Oh sure, many of them might go to church, but that doesn't mean anything. As the saying goes, you can spend an hour in a garage, but that doesn't make you a Buick.

Sun, 01/27/2013 - 11:58 | Link to Comment toothpicker
toothpicker's picture

..

Sun, 01/27/2013 - 17:30 | Link to Comment Random
Random's picture

Lol, you are full of shit with your " But I don't buy your implied argument that Islam is just another one of the world's religions. No other religion is as intolerant  and barbaric."

If you compare by barbarism talmudic judaism with islam (honestly) you will be VERY hard pressed to name the most fucked up of the two. Regarding intolerance, judaism is the most fucked up out of all world religions, AFAIK (i do know quite a few if you wanna go that route).

Sun, 01/27/2013 - 12:47 | Link to Comment Jack Burton
Jack Burton's picture

wee-weed up, Now you touch a subject that Sweden likes to hide, but that can not last forever. Indeed, the immigrant policy is totally fucked up! If I had to say one thing that Sweden has gotten terribly wrong, it is open borders to Islamic immigrants.

Now Sweden, since World War Two, has taken many immigrants. Italy sent many, and they run the pizza joints in even the small villages, great pizza!  Greek immigrants came and run their restaurants.

As for the Islamic immigrants, they are not fitting in. I could go in depth on this subject, but here is not the place. Just let me say that the social liberals in Sweden are powerful and they drive the open borders policy. Just to note, though my grandparents were both Swedish citizens and I speak fluent Swedish and an finacially independent, I could not immigrate to Sweden without great difficulty. The immigration spaces are all saved for those from Islam. It is nuts! If Swedish social and economic system collapses ever, it will be from the growing army of welfare dependent Islamists.

Sun, 01/27/2013 - 00:49 | Link to Comment WTFUD
WTFUD's picture

maybe! call JA ( wiki ) and let him know he's fretting 'bout nowt and should get over to Sweden pronto!

Sun, 01/27/2013 - 01:04 | Link to Comment LetThemEatRand
LetThemEatRand's picture

"What I know from reading many economics blogs, the comments sections in particular, is that very few who comment on Scandinavian economic and social systems  know much of the reality there."

Not knowing much about reality has never stopped anyone from having an opinion, least of all Ayn Rand devotees.  You tell 'em Jack!

Sun, 01/27/2013 - 07:54 | Link to Comment buckethead
buckethead's picture

Agreed... except for the Ayn Rand devotees portion. The screen name is sufficient. Using Rand as a bludgeon in every post only serves to make you seem like the one trick pony, rather than the intended target. Kinda like the Faux News blast repeated incessantly by so many.

Sun, 01/27/2013 - 10:51 | Link to Comment gould's fisker
gould's fisker's picture

Ya, but, he really has a thing about Rand--I'd get out of his way.

Sun, 01/27/2013 - 16:07 | Link to Comment wee-weed up
wee-weed up's picture

 And did you know... if you don't accept his brand of reality, then you must masturbate to Ayn Rand novels.

Yeah... just ask him!

Sun, 01/27/2013 - 06:33 | Link to Comment StychoKiller
StychoKiller's picture

 

 

 

if (populationOf( yourNation ) < populationOf( unitedStates ) - 200000000)

   socialismMightWorkForYou = TRUE;

else if (populationOf( yourNation ) > UnknownMagicNumber)

   socialismMightWorkForYou = FALSE;

 

Sun, 01/27/2013 - 10:07 | Link to Comment I am on to you
I am on to you's picture

Du har nu ikke ret,uanset hvor godt du, Prater Svenska:

You aint right,nomatter how good you speak sweedish!

Danmark som du nævner,er socialt gået totalt på .øven,det burde du vide,siden du har så god kontakt med Skandinavien?

Denmark as you metion,is broken totaly in matter of social justice!

Danmark,som har Outsourcet som alle andre til Kina,+har importeret arbejdskraft fra Østeuropa,er gået fuldstændigt ned socialt!

Denmark has like all other contrys,outsourced to China,and has imported Laborforce from easteren Europe,to wages,that no Danish can survive,in sence of ??Paying a house,due to wages,so low,like briclayers,180(Danish)Polish(no education)40,you might have freinds,higher up the sistem,so take a look downwards,and remember one thing,Norway aint member of EU,have huge oil reserves,and Sweden went through a big resescion in the 90th:

And different from Norway,Denmark sold their(underground) oil to Mærsk for Hold on to your hat,a stamp(document) worth 50 kr,and are loosing billions every year!

And i can tell you,a lot of people in Denmark,has to leave their homes,excately for these resons,and they might sleep in their cars,hopefuly not to freeze to death:This illusion is broken,and i tell you who broke it,Anders Fogh Rasmussen,the overkiller from Nato!

Sun, 01/27/2013 - 04:15 | Link to Comment TWSceptic
TWSceptic's picture

Yes it would have been even better without the socialist part. You don't help poor people by sending them money, you help them by allowing capitalism, freedom and personal responsibility. There was no socialism in the US when it was still the most prosperous country in the world, and poverty during that time was declining every year. Since the US became a more socialist country, poverty has grown exponentially. LetThemEatRand still has difficulty understanding that everything the government does is based on force, and with force you achieve the opposite of the intended goal.

LetThemEatRand is a perfect example of liberal socialists taking credit for what capitalism has done, it's quite perverse.

Sun, 01/27/2013 - 20:07 | Link to Comment Chris88
Chris88's picture

Nothing says you care more than sticking a gun in somebody's face to steal from them for something you arbitrarily believe is just.

Sun, 01/27/2013 - 01:23 | Link to Comment Attitude_Check
Attitude_Check's picture

When the few hundred people are the ones responsible for the economic destruction that has resulted in the layoffs, not arresting them is suicidal.  They will continue the destruction until stopped.

Sun, 01/27/2013 - 14:27 | Link to Comment NoTTD
NoTTD's picture

Do not pass go, and do not collect $200B.

Sun, 01/27/2013 - 02:27 | Link to Comment Al Gorerhythm
Al Gorerhythm's picture

There is an excellent description of the root cause of the Global Financial Crisis (GFC) and a path that leads the world out of this mess, contained in a book "The evil Princes of Martin Place", reccomended to me by an Aussie Libertarian. The book iencapsulates the actions of the people of Iceland. Liberty in action.

In essence, the book reveals how the governments of all nations have legislated for the establishment of Central Banks. Because they are, from their foundation, structurally bankrupt (as explained in the first chapter and introduction) the role of government and bankers is to beguile the populace with language and fiat control strategies that belie their credibility and solvency. The only way out of this is to deny the banks unwarranted position in our society and demand that the government govern for the people rather than their cohorts in the banking and financial industries.

The only reason that the Icelandic people rose up was because the nefarious link between government and bankers was exposed in one large dose of proposed theft. Most other country's citizens don't get it because the theft is more incremental. The undeniable link between government and banks is well established in this and other books. The task of two sets of wealth redistributing and savings skimming thieves in govt anf banks is to blind their marks to the theft. It is the hallmark of fraudulent companies that they beguile investors into their clutches, offering impossible returns as inducements whilst at the same time fleecing the gullible of their hard earned savings and wealth; tax by government, interest by banks, or 2 and 20 fees by hedge funds or mutual funds or superannuation accounts. If an entity is making money from your labour, being as they don't actually create any wealth, then they only see YOU as a means of income.

Slowly the world will awake to the con of the biggest Ponzi of all time.

Sun, 01/27/2013 - 01:40 | Link to Comment Silver Bug
Silver Bug's picture

Now if only the rest of the Western world could follow in their footsteps. Unfortunately this is highly unlikely.

 

http://marcfabersblog.blogspot.ca/

Sun, 01/27/2013 - 14:29 | Link to Comment hooligan2009
hooligan2009's picture

how do you make a yen cross?

 

 

throw (radioactive) sand in its face!

Sun, 01/27/2013 - 22:48 | Link to Comment ZeroAvatar
ZeroAvatar's picture

hooligan2009 said:how do you make a yen cross?

 

A:  Call it a 'FLOKI BOY' ?

Sun, 01/27/2013 - 19:16 | Link to Comment clara-to-market
clara-to-market's picture

It's all about the Ivy League Mafia.

Banksters attended the same schools as our corrupt politicians.

They enjoy the same country clubs.

They're given special exempt status by their cronies.

http://www.angrysinner.blogspot.kr/2013/01/sunday_27.html

Sun, 01/27/2013 - 22:08 | Link to Comment Sylvia Plath
Sylvia Plath's picture

How "Enlightened"

Sat, 01/26/2013 - 22:04 | Link to Comment Arrowflinger
Arrowflinger's picture

Fire and truth from the land of Ice.

Nice.

 

Sat, 01/26/2013 - 22:14 | Link to Comment espirit
Sat, 01/26/2013 - 22:44 | Link to Comment francis_sawyer
francis_sawyer's picture

Listen to the man from the land of ice & snow...

~~~

http://www.youtube.com/watch?v=RlNhD0oS5pk

~~~

Besides ~ WTF does anyone care anyway?... The NATIONAL DEBT crisis is 'SOLVED' in one glorious moment...

http://espn.go.com/nba/story/_/id/8885481/michael-drysch-fan-hit-half-court-shot-pay-22k-taxes

Sat, 01/26/2013 - 22:53 | Link to Comment Aziz
Aziz's picture

espirit — The argument against Iceland in the blog post that you posted is essentially that Iceland isn't a "progressive paradise"...

Well here on Zero Hedge (as a general rule) we ain't progressives. We mostly don't want a "progressive paradise". We're mostly capitalists. We mostly like creative destruction. We mostly think failed companies — banks or otherwise — should fail. 

And guess what? Iceland with creative destruction has done better than comparable economies who bailed out their financial sector.

Sat, 01/26/2013 - 22:57 | Link to Comment espirit
espirit's picture

Same club, different players.

Still a struggle for the 99%.

Sun, 01/27/2013 - 09:24 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

40 years from now, the 4th graders everywhere will read of the Icelander's aggression against the world.

Sun, 01/27/2013 - 09:34 | Link to Comment francis_sawyer
francis_sawyer's picture

In the US, it'll take until the 12th grade to achieve that level of reading comprehension [if they're even capable of making it that far]...

Sun, 01/27/2013 - 10:56 | Link to Comment gould's fisker
gould&#039;s fisker's picture

Exactly, the article's title gave this one away--when's the last time Iceland "overthrew" anything--but their President sure looked happy taking the credit with his new Davos buddies--so God bless them all.

Sat, 01/26/2013 - 23:05 | Link to Comment espirit
espirit's picture

@AZIZ

Not sure that progressive is the point. What I got out of it was 1) leaders are incompetant or fools or both 2) banksters in general spend little or no time in jail 3) problems aren't solved... and I could go on.

Sat, 01/26/2013 - 23:33 | Link to Comment espirit
espirit's picture
Baldur Bjarnason (@fakebaldur) says: 30 December 2012 at 12:58

I’m a bit puzzled by your use of the terms “libertarian” and “progressive”.

Actually, no, that is not what I meant. And I apologise for the confusion.

The libertarian/progressive labels are intended to be descriptions of overall behaviour, not about specific things I mention in this post. The Icelandic governments, given their views on regulation (shouldn’t exist), healthcare (shouldn’t be run by the government), government institutions (should all be privatised), and austerity (lots of it, to destroy existing government institutions) are and have been following the Thatcherite playbook to the letter.

That is what I meant with the label.

Sun, 01/27/2013 - 12:04 | Link to Comment tip e. canoe
tip e. canoe's picture

aziz, read the IMF report linked in the article.   looks like Iceland walked out of the ashes right into the middle of the wolfpack.    of course, this is not being portrayed that way, because this is exactly what the IMF (and those they work for) have in store for the rest of the western economies.

Sat, 01/26/2013 - 22:54 | Link to Comment espirit
espirit's picture

Page was the best in my book.

Sat, 01/26/2013 - 23:13 | Link to Comment trav777
trav777's picture

the women there are still too standoffish...pretty but frosty

Sun, 01/27/2013 - 00:57 | Link to Comment strannick
strannick's picture

Is that what you found?

Sun, 01/27/2013 - 08:00 | Link to Comment buckethead
buckethead's picture

I'm guessing he gets that a lot.

Sun, 01/27/2013 - 11:11 | Link to Comment nmewn
nmewn's picture

lol

Sun, 01/27/2013 - 14:27 | Link to Comment Hulk
Hulk's picture

trav walked into that one !!!

Sun, 01/27/2013 - 14:31 | Link to Comment NoTTD
NoTTD's picture

Bingreka!

Sat, 01/26/2013 - 23:52 | Link to Comment hooligan2009
hooligan2009's picture

very intersting link..i haven't been keeping up to date with iceland, just assumed ut was permanently fucked

automatic size of mortgage loan increases at inflation rates doesn't seem to me to be rational way of doing business..especially if incomes are going down!

many thanks..i guess the guy who wrote the article has a battle axe, beard and arm rings of gold and silver and would also insist on being given a sword in his dying hand so he could get into valhalla as a warrior !

Sun, 01/27/2013 - 00:20 | Link to Comment linrom
linrom's picture

.

Sat, 01/26/2013 - 22:30 | Link to Comment philipat
philipat's picture

I wonder why he was not a guest on CNBS Davos coverage??

Sat, 01/26/2013 - 22:30 | Link to Comment dick cheneys ghost
dick cheneys ghost's picture

What is the Pres of Iceland doing in Davos????

 

 

Sat, 01/26/2013 - 22:37 | Link to Comment espirit
espirit's picture

Davos is swiss for: Den of thieves.

Sat, 01/26/2013 - 22:45 | Link to Comment francis_sawyer
francis_sawyer's picture

Really???... I always thought it meant PEDOPHILIA... Well ~ francis_sawyer can't ALWAYS be right...

Sun, 01/27/2013 - 10:08 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

I think you have it confused with the Dominican Republic.

 

Unless you don't want it published around the world....always pay your hookers in full. We now live in a digital world. Man those progressives are cheap bastards. You expect it from a cop cause they don't make much money....but a US Senator?

http://dailycaller.com/2013/01/25/emails-show-fbi-investigating-sen-bob-menendez-for-sleeping-with-underage-dominican-prostitutes/

Sun, 01/27/2013 - 12:08 | Link to Comment tip e. canoe
tip e. canoe's picture

maybe he was invited by the IMF?

Sat, 01/26/2013 - 22:05 | Link to Comment JustPrintMoreDuh
JustPrintMoreDuh's picture

The 5 sweetest words ... "We let the banks fail"

Sat, 01/26/2013 - 22:16 | Link to Comment aint no fortuna...
aint no fortunate son's picture

"...and people in enlightened societies are not going to accept that (bank bailouts) in the long run."

That says it all for the good ole usa

 

Sat, 01/26/2013 - 22:44 | Link to Comment SilverFish
SilverFish's picture

Us americans are very enlightened. I have 5 words for you.... AMERICA'S.  GOT.  TALENT.!

Sat, 01/26/2013 - 22:16 | Link to Comment willwork4food
willwork4food's picture

I thought they were.." Corzine found guilty, assets confiscated."

Sat, 01/26/2013 - 22:39 | Link to Comment JustPrintMoreDuh
JustPrintMoreDuh's picture

or possibly "sure babe, bring her too"

Sat, 01/26/2013 - 23:16 | Link to Comment Non Passaran
Non Passaran's picture

In the Soviet EU and US, banks fail you.

Sun, 01/27/2013 - 00:53 | Link to Comment Bunga Bunga
Bunga Bunga's picture

Not if you have gold and silver.

Sun, 01/27/2013 - 14:56 | Link to Comment A Nanny Moose
A Nanny Moose's picture

Those are just "exit strategies"

Sat, 01/26/2013 - 22:08 | Link to Comment otto skorzeny
otto skorzeny's picture

the only destruction going on right now in the US is that of what remains of the middle class-but it sure as hell isn't creative(unless you  count "creating" millions more dependent on Uncle Sam for handouts)

Sat, 01/26/2013 - 22:14 | Link to Comment Yen Cross
Yen Cross's picture

Otto you carry more weight. People /Traders need to quit talking about how they get "FUCKED" and start being pro-active.

Sat, 01/26/2013 - 22:20 | Link to Comment espirit
espirit's picture

But, but, but... The velocity of money must be upheld on the 1st and the 15th when the Snap Cards are credited.

Without it, the global economy will tank.

Sat, 01/26/2013 - 22:25 | Link to Comment Yen Cross
Yen Cross's picture

It will tank/ Next week. Take a screen shot.

Sun, 01/27/2013 - 00:07 | Link to Comment OldTelem
OldTelem's picture

Do you live in Illinois? It's the state that creates tax breaks for the rich, leaving the ordinary people to make up the shortfall. This is from the "Daily Hearld," Kane County's local newspaper: "A recent court ruling gives massive assessment breaks to privately owned golf clubs -- a decision that will pass along the uncollected taxes to other taxpayers . . . . The tax blow is not exclusive to Kane County. Residents in every other county in IL with a privately owned golf course would shoulder an increased share of the tax burden . . . ." For Kane County that means ordinary property tax payers will have to suck up to another $673,247 in taxes because private country clubs are exempt. As far as I'm concerned it's one more reason to leave this sickening state. As soon as my daughter graduates from college we're moving to Florida. It's warm and I have family there. 

Sun, 01/27/2013 - 00:31 | Link to Comment post turtle saver
post turtle saver's picture

Left Illinois for Texas a long, long time ago... have not looked back.

Sun, 01/27/2013 - 12:50 | Link to Comment CheapBastard
CheapBastard's picture

Illinois bond rating sinks to worst in the nation with S&P downgrade

 

SPRINGFIELD — Citing inaction on pensions, a prominent Wall Street bond-rating agency downgraded Illinois’ bond rating Friday, making the state the nation’s worst credit risk. The move by Standard & Poor’s to rate Illinois’ bonds at A- wit ...read more

 

http://www.illinoisisbroke.com/news

Sat, 01/26/2013 - 22:11 | Link to Comment Lost Wages
Lost Wages's picture

Odd how the country that let the banks fails also believes in elves and founded a school to study them.

http://www.atlasobscura.com/places/alfaskolinn-icelandic-elf-school

Sat, 01/26/2013 - 22:19 | Link to Comment Conman
Conman's picture

Right, and our president believes in a man in the sky. Also the last repub candidate for president beleived that god is an alien from an other planet. Your point?

Sat, 01/26/2013 - 22:24 | Link to Comment Likstane
Likstane's picture

The point is Iceland is still run by an independant central bank and fiat fairy money.  This is a temporary illusion of prosperity.

Sun, 01/27/2013 - 15:53 | Link to Comment css1971
css1971's picture

I have a 2 year old that pretty much matches the dictionary definition of a pixie.

Myths have a kernel of truth to them. It might just not be where you think it is.

Sat, 01/26/2013 - 22:11 | Link to Comment q99x2
q99x2's picture

Great. Lock Dimon and Blankfein up and put someone like him in charge.

 

Sat, 01/26/2013 - 22:12 | Link to Comment Seize Mars
Seize Mars's picture

Yeah, yeah.

Question 1. Does Iceland have fiat money?

Question 2. Do they have income tax?

 

The answer to Q1 means they are still firmly in the grasp of the Great Eye. Actually so does the answer to Q2.

So I don't really want to hear the bullshit of "fiat lite." It isn't ok. Iceland is a mirage designed to keep you in "the paradigm."

Sat, 01/26/2013 - 22:16 | Link to Comment fonzannoon
fonzannoon's picture

Q3: are their bankers in jail in iceland? i'd trade the first two for the 3rd one if it's a yes.

Sat, 01/26/2013 - 22:22 | Link to Comment Yen Cross
Yen Cross's picture

 fONZ ,   That is not true. Iceland defaulted, and took 300K icelanders, to verify " collateral".

Sat, 01/26/2013 - 22:41 | Link to Comment fonzannoon
fonzannoon's picture

I hear ya Yen, I don't know the answer. If it is a yes I have some hope.

So what is the screen shot? DXY gets bid, Eur gets dumped? That means S&P gets hit and gold as well?

This rally is fascinating. Average Joe pulling money and putting it into the bank. The bank throws average joes' savings into the market and takes the risk that average joe was trying to avoid. The bank sits the and collects some div's and interest. The only thing that could derail it is if average joe tells the bank he wants his money back to put in the market. The bank has to sell and average joe gets another cleveland steamer.

Irony

Sat, 01/26/2013 - 22:34 | Link to Comment BidnessMan
BidnessMan's picture

Indicted and going to trial.  Far more than any consequences any US senior banker faces. 

Sun, 01/27/2013 - 03:12 | Link to Comment hidingfromhelis
hidingfromhelis's picture

The number of indictments may be small, but at least it's greater than ZERO!

Sun, 01/27/2013 - 15:43 | Link to Comment css1971
css1971's picture

Yes.

 

We are pathetic bunch of losers aren't we. Nothing to stop them doing it all over again.

Do NOT follow this link or you will be banned from the site!