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First They Jailed The Bankers, Now Every Icelander To Get Paid Back In Bank Sale

Tyler Durden's picture




 

Submitted by Claire Bernish via TheAntiMedia.org,

First, Iceland jailed its crooked bankers for their direct involvement in the financial crisis of 2008. Now, every Icelander will receive a payout for the sale of one of its three largest banks, Íslandsbanki.

If Finance Minister Bjarni Benediktsson has his way — and he likely will — Icelanders will be paid kr 30,000 after the government takes over ownership of the bank. Íslandsbanki would be second of the three largest banks under State proprietorship.

“I am saying that the government take [sic] some decided portion, 5%, and simply hand it over to the people of this country,” he stated.

Because Icelanders took control of their government, they effectively own the banks. Benediktsson believes this will bring foreign capital into the country and ultimately fuel the economy — which, incidentally, remains the only European nation to recover fully from the 2008 crisis. Iceland even managed to pay its outstanding debt to the IMF in full — in advance of the due date.

Guðlaugur Þór Þórðarson, Budget Committee vice chairperson, explained the move would facilitate the lifting of capital controls, though he wasn’t convinced State ownership would be the ideal solution. Former Finance Minister Steingrímur J. Sigfússon sided with Þórðarson, telling a radio show, “we shouldn’t lose the banks to the hands of fools” and that Iceland would benefit from a shift in focus to separate “commercial banking from investment banking.”

Plans haven’t yet been firmly set for when the takeover and subsequent payments to every person in the country will occur, but Iceland’s revolutionary approach to dealing with the international financial meltdown of 2008 certainly deserves every bit of the attention it’s garnered.

Iceland recently jailed its 26th banker — with 74 years of prison time amongst them — for causing the financial chaos. Meanwhile, U.S. banking criminals were rewarded for their fraud and market manipulation with an enormous bailout at the taxpayer’s expense.

 

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Fri, 10/30/2015 - 09:03 | 6730167 ShorTed
ShorTed's picture

WHAT?!  Where's the click-bait?

 

Fri, 10/30/2015 - 09:04 | 6730171 Tom Servo
Tom Servo's picture

Click "Printer friendly version" at the bottom...

 

Fri, 10/30/2015 - 09:05 | 6730179 ShorTed
ShorTed's picture

Many thanks.

Fri, 10/30/2015 - 09:07 | 6730190 Stainless Steel Rat
Stainless Steel Rat's picture

Can you imagine a world without banksters?

https://www.youtube.com/watch?v=Cqk-CLxrW6s

 

Fri, 10/30/2015 - 09:15 | 6730230 ShorTed
ShorTed's picture

That mythical place called Nirvana?

Fri, 10/30/2015 - 09:24 | 6730292 Troll Magnet
Troll Magnet's picture

100 years from now
history will be written and iceland will go down as the new evil country that killed 6 million Shylocks and put the rest of the Joos in concentration camps.

Fri, 10/30/2015 - 09:32 | 6730356 AlaricBalth
AlaricBalth's picture

30,000 Iceland Kr is equivalent to 233 USD. The US government gives more than that amount away to the millions in the FSA each week. 

Fri, 10/30/2015 - 11:14 | 6730921 FreeMoney
FreeMoney's picture

The success of this approach will not be presented in the mainstream or promoted by western politicians or economists.

Fri, 10/30/2015 - 12:19 | 6731241 Eirik Magnus Larssen
Eirik Magnus Larssen's picture

Correct.

Fri, 10/30/2015 - 17:19 | 6731551 Fahque Imuhnutjahb
Fahque Imuhnutjahb's picture

 

 

Damn right Iceland!!  I'm may apply for dual citizenship!! Governmental ball clanking.  I don't figure there's a

chance of this in 'Murka, which is bought and paid for long ago; but it'd be nice if our lawmakers could grow a

pair then we'd see the heebies get the geebies.  Pipe dream, let me come out of my Walter Mitty moment.

Fri, 10/30/2015 - 09:33 | 6730361 froze25
froze25's picture

This is only possible in Iceland as the population is only 300,000.  One person can make a big difference and quickly in that type of a country.  Plus they are not ethnically diverse so they don't have the same issues as most other nations that have been convinced to become diverse.  In other words they are still united by the same cultural values.

Fri, 10/30/2015 - 10:09 | 6730553 CuttingEdge
CuttingEdge's picture

Quick, send in the refugees for that diversity...

Fri, 10/30/2015 - 10:40 | 6730713 FEDbuster
FEDbuster's picture

You don't see boats full of refugees sinking off the coast of Iceland do you?

 

Fri, 10/30/2015 - 11:01 | 6730847 Mike in GA
Mike in GA's picture

or Japan

Fri, 10/30/2015 - 23:44 | 6733258 fleur de lis
fleur de lis's picture

Diversity in and of itself is not the problem. It's that various ethinc groups and various cultures in close proximity create static and then strife if there is no overarching culture to bind them into a common identity.

This is the goal of the EU when they flood Europe with traumatized refugees who cannot assimilate so quickly, and indeed don't even want to blend in, then furthermore encourage them to practice traditions that directly contradict liberal European values. Chaos and conflict are guaranteed, as planned.

Without a dominant culture people naturally "tribalize" or Balkanize because there is no set of baseline cultural values. They retreat to what they know. Native Europeans are not allowed the same since their cultures have been deemed by the EU to be repressive, racist, misogynist, bigoted, and worst of all, Christian. Therefore they must be enlightened by the newer values taught to them by hostile immigrants and refugees. Out with the old in with the new.

The NWO is doing everything in its power to destroy ethnic and national identities through forced diversity which is unnatural from the start. People by nature gravitate toward others with similar values, be they ethnic values or gardening clubs.

Sat, 10/31/2015 - 00:40 | 6733381 BarkingCat
BarkingCat's picture

On fuck, stop blaming some shadow figures. These people vote for these governments. They can vote to put someone who will value their native values.
For the most part,they do not.

Sat, 10/31/2015 - 02:14 | 6733452 fleur de lis
fleur de lis's picture

BC--you are showing yourself up as poorly read.

These people only "vote" for the puppets put up by the shadow figures. Have you not been paying attention? "These people" have been systematically stripped of their own heritage since 1914 when the long planned, Fed funded, central banker bloodfest started which took down four Empires, tore up entire societies, killed millions, and installed more manageable socialist systems to be controlled by NWO misfits and psychopaths. That's why EU voting patterns make no sense--they're illusions.

It goes back even further to the English and French Revolutions among others which were planned, instigated, and managed by the same "shadow people." So massive population transfers with violent conflict is no problem for them at all. They control all the necessary resources to pull off such atrocities.

You need to deprogram yourself from all the history lies you memorized and the twisted fables fed to you from the TV. They don't know what they're talking about either.

Fri, 10/30/2015 - 10:30 | 6730646 ThirteenthFloor
ThirteenthFloor's picture

At least someone's doing it right. They paid a price but hot it done.

Fri, 10/30/2015 - 11:26 | 6730981 lucitanian
lucitanian's picture

Ya, You're right. A Thai Buddhist, Iraqi Muslim, or Indian Sihk just cannot comprehend when he/she is being shafted, and has no idea of moral responsibility in terms of economic transactions because of their ethnic and ethical difference.

What a load of .... .

What? Do you thing it requires, exclusively a homogenius Protestant ethic to understand the evils of usury and corruption?

It's all this "mixing" and "globalization" that's to blame, to be sure!

Fri, 10/30/2015 - 12:18 | 6731238 froze25
froze25's picture

You miss the point its not that people are unable to understand its that what they think may be the solution will be different since they come from a different point of view that is formed from different past experiences.  Some cultures have a long history of being under authoritarian rule and some don't.  Some like it and some don't.  

Fri, 10/30/2015 - 18:36 | 6732599 Socratic Dog
Socratic Dog's picture

Uh huh.  And the westerners, in comparison, are totally cognizant of the ass-raping they have been getting for hundreds of years from the shylocks, right? 

 

Fri, 10/30/2015 - 13:04 | 6731288 Eirik Magnus Larssen
Eirik Magnus Larssen's picture

You are clueless. Through "more danico", many Scandinavian men contracted informal/secular-based marriages with women (yes, in plural) from other cultures in the ancient days. They were typically women from the regions of modern-day France, Flanders, England, Ireland and Scotland, but sometimes they also came from much more distant areas.

Intermarriage with people from abroad is a centuries-old practice in Nordic cultures, including Iceland. Point in case:

http://indiancountrytodaymedianetwork.com/article/the-first-pocahontas-m...

Fri, 10/30/2015 - 13:05 | 6731460 Johnny Horscaulk
Johnny Horscaulk's picture

Actually Eirik - you are clueless here.

Iceland is mostly Scandinavian and Celtic. While the men were generally Vikings, the women were Norse Gaels or Gaels [Irish] of Ireland or Dal Riada in Scotland.

Since this age of settlement, they've remained fairly isolatred and as a population homogenous - a mix, largely, of Celt and Scandinavian.

They are used for many genetic studies PRECISELY BECAUSE of this.

Do some googling. I like your posts, but you're off the mark here.

Fri, 10/30/2015 - 13:13 | 6731483 Eirik Magnus Larssen
Eirik Magnus Larssen's picture

You reiterate my point: Iceland is not ethnically homogeneous. It is heterogeneous, in sharp contrast to the fantasies & delusions that White Supremacy nuts seem to have about the island.

Fri, 10/30/2015 - 13:43 | 6731606 tenpanhandle
tenpanhandle's picture

Not everyone that believes in ethnic preservation is a white supremacist.  Peoples all around the globe have a cultural bias to maintaining and preserving their ancesteral ethnicity.  That is where true diversity resides.  It is the insane progressive new world order believers that preach that diversity is to "pour into giant melting pot and stir".  These same people will fervently maintain that  diversity in nature means to isolate and prevent  crossing with different populations.

 

 

 

 

Fri, 10/30/2015 - 19:43 | 6732741 Eirik Magnus Larssen
Eirik Magnus Larssen's picture

"Not everyone that believes in ethnic preservation is a white supremacist."

I'm not convinced of that. The notion of "ethnic preservation", as you call it, reflects such a poor understanding of both biology and European history that right-wing extremist partisanship is almost certain to play a role in such views.

Fri, 10/30/2015 - 19:50 | 6732768 nmewn
nmewn's picture

Of course black-nationalists hold no such views, right? ;-)

Fri, 10/30/2015 - 15:40 | 6732122 Tarshatha
Tarshatha's picture

"Plus they are not ethnically diverse"

Code for there are only between 50-100 Jews on the Island.

That's why there is financial justice.

 

https://en.wikipedia.org/wiki/History_of_the_Jews_in_Iceland

Sat, 11/07/2015 - 02:22 | 6760950 Old Doctor
Old Doctor's picture

If you can swing the trip, better go visit Iceland soon. Soros and Bush must be losing sleep knowing Iceland is still a self determing country. Pretty soon they'll use HAARP to erupt the volcanos, assassinate the goverment and send boatloads of Jamaicans there with pre-paid visas.

froze25, 'united by the same cultural values' is what the Builderburgers, Soros, Kissinger, Bush, Rockefellers and Fascist US bankers are stamping out all over Europe and the USSA. Hats off to Putin and China for having balls. Here in the once great US we have traitors, parasites and criminals running (and killing) the country. 

Fri, 10/30/2015 - 09:42 | 6730421 FireBrander
FireBrander's picture

How about no CEO's?

"

Top 100 CEOs' Retirement Savings=116 Million Average American Nest Eggs"

http://www.nbcnews.com/business/retirement/top-100-ceos-retirement-savin...

Fri, 10/30/2015 - 11:26 | 6730973 Not My Real Name
Not My Real Name's picture

How about no more gold-plated government pensions? (Unlike CEO pay, we ALL get stuck footing the absurd bill for government employees.)

http://transparentcalifornia.com/pensions/all/

Fri, 10/30/2015 - 10:27 | 6730631 daveO
daveO's picture

Oh, but I distinctly remember Jim Cramer saying that Iceland would become a deserted island. 

Fri, 10/30/2015 - 11:02 | 6730854 FreeMoney
FreeMoney's picture

He probably got that from Krugman.

Fri, 10/30/2015 - 10:53 | 6730788 bania
bania's picture

I second that. This tip revolutionizes my ZH reading experience.

Fri, 10/30/2015 - 09:07 | 6730189 thecondor
thecondor's picture

Thanks. 

Fri, 10/30/2015 - 09:14 | 6730225 HobbyFarmer
HobbyFarmer's picture

Thanks....I didn't know that either.

Fri, 10/30/2015 - 09:31 | 6730344 SWRichmond
SWRichmond's picture

Beautiful young women, made more beautiful still by their smiles, something young Western women don't seem to know how to do anymore.

Fri, 10/30/2015 - 09:56 | 6730485 Bunghole
Bunghole's picture

If you want a smile out of an American woman, present her with a plate of gravey cheese fries, a 32 oz. Diet Coke and a coupon to a tattoo shop.

Fri, 10/30/2015 - 10:01 | 6730514 Pure Evil
Pure Evil's picture

Don't forget the electric cart to haul her lard ass around.

Fri, 10/30/2015 - 10:34 | 6730666 813kml
813kml's picture

It makes Björk very happy to see her fellow Icelanders correct bad bankster behaviour...

https://www.youtube.com/watch?v=KDbPYoaAiyc

Fri, 10/30/2015 - 10:17 | 6730590 A Nanny Moose
A Nanny Moose's picture

CTRL+P? Never heard of it.

Fri, 10/30/2015 - 10:21 | 6730607 Agent P
Agent P's picture

Why am I just learning about this?  You sir, deserve an award! 

Fri, 10/30/2015 - 09:18 | 6730248 Bangin7GramRocks
Bangin7GramRocks's picture

Fucking socialist pigs! We should drown Bernie Sanders in the nearest Icelandic Fjord! Trump/Palin 2016

Fri, 10/30/2015 - 10:22 | 6730615 Jonas Parker
Jonas Parker's picture

Naw, why polute Icelandic waters?

Fri, 10/30/2015 - 10:56 | 6730739 FireBrander
FireBrander's picture

Trump is LOSING GROUND in Iowa...but don't worry, Iowa has a big pocket of RIGHTWING RELIGIOUS NUTJOBS that always pick the biggest loser.

2008: Mike Huckabee 35%

2000: George W. Bush 41%

1996: Bob Dole 26%

1992: Robert Dole 38% with PAT ROBERTSON at 25%!

Why in the hell is Iowa "First in the Nation"?

http://caucuses.desmoinesregister.com/caucus-history-past-years-results/

Fri, 10/30/2015 - 10:56 | 6730812 HopefulCynical
HopefulCynical's picture

Why in the hell is Iowa "First in the Nation"?

Because every time another state tries to have their primary earlier, Iowa moves theirs up. That's why it's in early January now. Last election, they threatened to have it in December of 2011, IIRC, because another state was trying to go first.

Fucking corn subsidy whores.

Sat, 10/31/2015 - 07:51 | 6733658 mygameon
mygameon's picture

Cynical,, I agree with your post. But two things are worth examining:

1. Iowa is a great place to live, but terrible at electing Repubs because of the moral majority (thus the first part of #1)

2. Tell me the state you live in and I'll point out your subsidy whores.

Fri, 10/30/2015 - 10:58 | 6730832 FireBrander
FireBrander's picture

We probably should keep Iowa first...as a WARNING IDICATOR...if Iowa likes it, it's probably not what's best for the rest of us...

Sat, 10/31/2015 - 01:04 | 6733409 BarkingCat
BarkingCat's picture

Iowa is full of idiots.
In 2004 a town in Iowa got a new mayor.
This person was a 20 something campaign guy for Obama who came to town in order to stump for Ears.
This kid has not done anything else in his life and these dumb fucks have asked him to stay and be their mayor.

On, and Pella windows and doors are made in Iowa and they suck. I speak from experience.

Fri, 10/30/2015 - 12:21 | 6731250 Eirik Magnus Larssen
Eirik Magnus Larssen's picture

American society in general seems to have no shortage of those types.

Fri, 10/30/2015 - 13:50 | 6731629 tenpanhandle
tenpanhandle's picture

My, my, aren't we being a little predjudicial here.  I would say that the world in general is full of idiots (those types).  US citizenery has no monopoly here, though I would say that our leadership is closing in on 100%.

Sat, 10/31/2015 - 08:57 | 6733742 Proctologist
Proctologist's picture

Agreed.

I would say politics hasn't changed much since Cain Killed Abel

Sat, 10/31/2015 - 18:07 | 6735410 BarkingCat
BarkingCat's picture

The Swedish government surpasses the US government in the stupid factor by a wide margin.
The willingly sent from a safe society to a rape capitol of Europe.

Fri, 10/30/2015 - 13:07 | 6731463 Johnny Horscaulk
Johnny Horscaulk's picture

Iowa is meaningless.

Huckabee might be worse than the Canadian running in terms of batshit crazy and senseless devotion to the state they deliberately misnamed "Israel" {no offense - but to me as a secular agnostic its a small foreign country that wields far too much influence}.

Fri, 10/30/2015 - 22:23 | 6733156 sun tzu
sun tzu's picture

We should let the LEFTWING MUSLIM WORSHIPPING CRETINS go first. 

 

The LEFTWING CRETINS hate every religion but trip over themselves to pander to Muslims.

Fri, 10/30/2015 - 10:03 | 6730522 Pure Evil
Pure Evil's picture

I shoulda moved to Iceland in my early 20's.

Fri, 10/30/2015 - 10:24 | 6730624 Dave Thomas
Dave Thomas's picture

I should have too, but you'll have to wear THREE socks.

Fri, 10/30/2015 - 13:52 | 6731645 tenpanhandle
tenpanhandle's picture

It's what's for dinner - boiled icelandic chicks.

Fri, 10/30/2015 - 10:09 | 6730552 McCormick No. 9
McCormick No. 9's picture

Ahhhhh.......that's better!

Fri, 10/30/2015 - 19:08 | 6732671 seek
Fri, 10/30/2015 - 09:04 | 6730169 ShorTed
ShorTed's picture

As for the article, kudos Iceland.  Don't expect that sort of reality here (any major western democracy) though.

Fri, 10/30/2015 - 09:10 | 6730200 Ghordius
Ghordius's picture

they were willing to pay the price, weren't they? and the price for this wasn't low

further, the impact on the global systems was negligible, and so very little external pressure was put on them

Fri, 10/30/2015 - 09:12 | 6730207 Philo Beddoe
Philo Beddoe's picture

Sometimes it easier to be the small fish in a big pond. 

Fri, 10/30/2015 - 10:03 | 6730521 Ghordius
Ghordius's picture

yes. and sometimes it's an invitation for bigger fishes to have breakfast

Fri, 10/30/2015 - 09:21 | 6730256 ShorTed
ShorTed's picture

I agree the price was high but they've also completely rebuilt their banking industry, paid off all bailouts and moved on.  Meanwhile in the EU and US worthless asssets rot on balance sheets, middle classes (and their savings) being wiped out by central banks going all in to defend the insolvent banks and all the sub 2% inflation they can't seem to generate!!

Move along, nothing to see here.

Fri, 10/30/2015 - 09:40 | 6730387 froze25
froze25's picture

Iceland allowed the creative destruction cycle to happen and complete.  Assets fell sharply and bankruptcy happened, they had the reset that the rest of the world is preventing at all cost.  It was the reset / revaluation that allowed the economy to reorganize and redeploy resources in an efficient manner.  That is why they rebounded so quickly.  Its not magic or rocket science, what they did used to be the normal process.  

Fri, 10/30/2015 - 09:54 | 6730480 Ghordius
Ghordius's picture

+1 for the Austrian "allowed the creative destruction cycle to happen"

"...preventing at all cost..." I blame Hunk Paulson's "blade" motorola cellphone. the one that is now exposed in the Smithonian Institute

it sent him images of tanks on the streets

nevertheless, don't kid yourself. Icelanders paid a heavy price, over the years. I'm not so sure everyone of them would not have preferred an alternative to their personal misery, particularly those who lost their houses

Fri, 10/30/2015 - 10:01 | 6730513 RaceToTheBottom
RaceToTheBottom's picture

He was rewarded with an island and lots of money for his duty to GS and the rest of the Banksters?

Fri, 10/30/2015 - 10:06 | 6730539 safe as milk
safe as milk's picture

"so very little external pressure was put on them"

gordon brown did freeze landsbanki holdings using anti-terrorist laws and the uk withdrew their military support of iceland's airspace. the international press was pretty rough on them, too.

Fri, 10/30/2015 - 19:03 | 6732662 Ghordius
Ghordius's picture

yes. That counts as little pressure. Shocking, scandalous... little pressure

Sat, 10/31/2015 - 18:14 | 6735434 BarkingCat
BarkingCat's picture

Just who was Britain protecting Iceland's
airspace from?
I am surprised that he had time to even think
about Iceland between fucking dead pig's and
molesting little boys.

Fri, 10/30/2015 - 10:51 | 6730768 Doom and Dust
Doom and Dust's picture

Very little external pressure LOL!

The UK and Netherlands beg to differ, they tried their utmost to suck Iceland dry after the Icesave debacle. It just had the guts to say no.

I guess they didn't send all the real men to sea ages ago like the other Scandinavian countries.

Fri, 10/30/2015 - 09:04 | 6730172 bigbwana
bigbwana's picture

We live in a Matrix! If you haven't heard whispers, you have now. And if you have heard whispers, then the mere fact I am posting about it, is proof! All we have to do to dismantle the Matrix, is think about dismantling the Matrix. That's all. Numbers count and the more thinkers on board, the sooner we bannish the Dark controllers. Fait accompli. It is the Will of God.

Fri, 10/30/2015 - 09:14 | 6730222 Sages wife
Sages wife's picture

I think you're looking for the ganja article.

Fri, 10/30/2015 - 09:41 | 6730410 DelusionalGrandeur
DelusionalGrandeur's picture

I think he's dipping into his "dmt " stash a little early this morning.

Fri, 10/30/2015 - 09:53 | 6730475 pods
pods's picture

True way to destroy this Matrix, or leave the Human Farm, is to avoid debt at (most) all costs.

System will implode on its own.

pods

Fri, 10/30/2015 - 09:57 | 6730497 Ghordius
Ghordius's picture

+1 interestingly, if everybody would follow your advice, the system would not even implode. just... deflate like a ballon

like all the "investment bank" business units that Deutsche Bank and other european megabanks are slowly closing, putting former "Masters of the Universe" "on the street"

Fri, 10/30/2015 - 09:36 | 6730379 JRobby
JRobby's picture

Iceland’s revolutionary approach to dealing with the international financial meltdown of 2008 certainly deserves every bit of the attention it’s garnered.

 

Doing it right

Doing it legally

Doing it without bloodshed

Evolution

Fri, 10/30/2015 - 09:05 | 6730178 ozzzzo
ozzzzo's picture

Stay tuned for the invasion of iceland; they are terrists after all! This behavior will not be allowed to continue for very long.

Fri, 10/30/2015 - 09:06 | 6730181 BeaverCream
BeaverCream's picture

Iceland needs more refugees. The goys here aren't playing along.

Fri, 10/30/2015 - 09:10 | 6730201 Philo Beddoe
Philo Beddoe's picture

Long fucking boat ride. I think they are safe. 

Fri, 10/30/2015 - 09:18 | 6730251 my_nym
my_nym's picture

There are some feminists there working on it.

But the black and brown people don't like to go that far north, so they're probably safe from a rainbow and ponies destabilization campaign to overturn the democratic will of an ethnically homogenous society. 

For everyone else (wretched refuse, melting pot material), there's Mc Dumbocrazy Inc. owned by the Tribe that naturally emerges above the lowly tribes/goyim that like to be melted... in the pot of diversity.

Fri, 10/30/2015 - 10:12 | 6730569 CuttingEdge
CuttingEdge's picture

I'm sure there are some Swedes happy to provide ferry service from Stockholm.

Sat, 10/31/2015 - 18:21 | 6735465 BarkingCat
BarkingCat's picture

I don't know anymore but in the 1980s Iceland did not allow negros in their country.
I worked with an ex Air Force guy who told me
that even the US bases could not have them.
If they are smart they still have that law.

Fri, 10/30/2015 - 09:06 | 6730182 Smegley Wanxalot
Smegley Wanxalot's picture

I really need a larger pic of those chicks.  I work in IT with a bunch of ugly dudes and need to periodically see fine tit during the day.

Fri, 10/30/2015 - 09:07 | 6730183 thecondor
thecondor's picture

Paid Back?

Fri, 10/30/2015 - 09:06 | 6730184 herkomilchen
herkomilchen's picture

I'd like to get paid by those girls in the photo.

Fri, 10/30/2015 - 09:06 | 6730185 ssgredux
ssgredux's picture

Ummmm..... Can I get a 'Merica?

Fri, 10/30/2015 - 09:07 | 6730188 buzzsaw99
buzzsaw99's picture

fucking AWESOME

Fri, 10/30/2015 - 09:09 | 6730194 Hannibal
Hannibal's picture

Whaaat,...banksters in jail and prepaid their IMF dept.!

Iceland is now the perfect candidate for some US carpet bombing and invasion,

Fri, 10/30/2015 - 09:27 | 6730299 my_nym
my_nym's picture

Even the dumbest of the freedumb fry eaters and hopium smokers would not listen to the Jews if they decided to incite a war on Iceland or blend them out of existence with refugees from the tribes of the South.

Every other Northman/Norman/Norse/Nordic/North by North West White tribes of the North... perhaps, just look at what has been done historically.   Look at what is occuring now in Europe.

But even the Jews may have limits when mining the stupidity of the dumb goyim:  "Wut?  We're supposed to attack Iceland now? Do they have WMDs in their bikinis?  Do they!  Nordic, North Nazis that aren't blending themselves out of existence like the Kardashian Team Kaballah?  Team Captain America to the rescue!"

There again, as fucking stupid (insert Einstein quote about stupidity here) as White people have been historically when it comes to being incited the international Jewish mafia of banksters and oligarchs... who can say? 

 

So when does America invade to promote democracy and more ethno/racial diversity in Iceland?  After all, they must be racists.  All the tribes of the North are... after all, they're White!

Fri, 10/30/2015 - 09:44 | 6730427 Bangin7GramRocks
Bangin7GramRocks's picture

Well, U.S. dummies did fall for the ISIS boogieman hook, line & sinker. Doesn't take much to convince American mommies to shove their boys to the slaughter to "keep the Homefront safe".

Fri, 10/30/2015 - 10:16 | 6730582 Bastiat
Bastiat's picture

Icelanders need to pay a massive carbon tax to offset the all that volcanic pollution.

Fri, 10/30/2015 - 12:49 | 6731389 katagorikal
katagorikal's picture

The US did occupy Iceland during WWII, following an unopposed British invasion of the neutral country:

https://en.wikipedia.org/wiki/Invasion_of_Iceland#United_States_occupati...

Fri, 10/30/2015 - 09:11 | 6730202 Zhero Cortez
Zhero Cortez's picture

Finally. It's not about Capitalism vs Communism; It's not about Whites vs Blacks; It's not about Educated vs Uneducated; It's not about Employers vs Employees;

It's all about PRIVATE BANKING.

Libertarians would cringe about this, but it's not about FIAT, it's about DEBT FIAT, it's about PRIVATE CREATED DEBT FIAT.

Countries of the world must regain their sovereignty and issue DEBT FREE FIAT.

GOLD IS JUST ANOTHER FIAT - THERE IS NO VALUE TO GOLD - WE GIVE GOLD VALUE.

STOP PRIVATE BANKING AND STOCK MARKET CASINO.

Fri, 10/30/2015 - 09:16 | 6730241 Latitude25
Latitude25's picture

I have a nice color printer and will gladly send you some fiat for your gold.  

Fri, 10/30/2015 - 09:22 | 6730272 shovelhead
shovelhead's picture

Make some gold in your basement and you can fool all those crazy people who own it.

Fri, 10/30/2015 - 09:47 | 6730440 VinceFostersGhost
VinceFostersGhost's picture

 

 

He's probably crazy enough to do just that.

Fri, 10/30/2015 - 09:24 | 6730286 Bill of Rights
Bill of Rights's picture

Oh look another one to add to the long list of retards who say gold has no value...

Fri, 10/30/2015 - 09:48 | 6730420 Urban Redneck
Urban Redneck's picture

The issue isn't private banking, the problem is the private monopoly over the public money supply.

You can nominally strip authority from the banks and transfer it to the Congress critters (honest, moral, selfless and wise... every one of the fuckers).  But in short order we would be breaking out the rinse, repeat insults.

Moreover, while the base money supply is a function of debt issuance, and that can be transferred to another party, it's only part the actual money supply due to shadow banking and credit creation through transformation, which cannot be so easily transferred.  (and I'm also ignoring velocity intentionally)

It's simple to cheer for debt free fiat, but how is the money supply rationalized to market conditions and how is counter-cyclicality achieved?

Saying you simply are going to create x% new money each year is nothing more than an extension of the status quo (and Ron Paul's favorite chart) since the FED restructuring in response to WW1 (as opposed to the founding of the Federal Reserve system). 

The solution is to remove the monopoly and the structural impediments to rationalization of the size of the money supply (which includes the debt basis of the narrow money supply, but it is much more complex than "just printing money" and letting Congress or Bernanke's helicopter distribute it)

 

Fri, 10/30/2015 - 10:01 | 6730511 Ghordius
Ghordius's picture

shadow banking as such was illegal, wasn't it? not under this name, but the principles on which it's based... and on which hedge funds are, too

Fri, 10/30/2015 - 10:30 | 6730652 Urban Redneck
Urban Redneck's picture

I don't know about illegal (and it would vary for jurisdiction to jurisdiction anyway) but it was comparatively impossible (with the caveat that transformation and monetization has occurred since at least the Roman Empire or late Republic).

The current iteration and explosion of shadow banking is the cumulative product of worldwide banking "reform" in the 90's and 00's.  IMO the biggest culprits are the Basel Accords, followed closely by central securities depositories and clearing mechanisms.  It wouldn't be possible at this scale without the repeal of Glass Steagall, but I think the genesis and growth can better traced to the evolution of the eurodollar market the previous decade, and that (not so) genius or original attempt at global central bank fiat manipulation - the Plaza Accord (snake on steroids). 

Fri, 10/30/2015 - 11:30 | 6731008 goldsaver
goldsaver's picture

explain, explain, explain

-(in my best dalek voice)

If you have no limits to the amount of currency issued (either by the currency been gold, digits or anything in between) then, based on historical data, the currency will be inflated to extinction. If you use gold and permit reserve banking and creation of counterfeit notes by private banks then the bankers will issue so much counterfeit currency that they can buy up all the gold and control the economy again ( see the theft of 1888).

The basic problem is not really even who issues the currency, but the value of that currency for imports. If a country was to issue its own currency, based on scarcity or not, the true value of that currency would be its ability to pay for imports. Lte's say that Greece returned to the Drachma and decided that the Drachma will be issued, as needed to meet its internal needs (pensions, salaries and so forth), the currency will quickly loose its value against external currencies because Greece exports almost nothing while it imports most of the products it consumes. There would be very little international demand for Drachmas while Greece would need an immense amount of external currency.

Fri, 10/30/2015 - 10:24 | 6730621 Raymond_K._Hessel
Raymond_K._Hessel's picture

You are right, but the indoctrination that gold is magic, and 'the' answer to remedy the money system is very strong. Any opposition to the sanctity of gold will be rejected before it is understood.

You need to argue why debt free issuance matters more than backing to people who truly believe that gold backing is 'necessary.'

This said, bear in mind that backing does prevent some fuckery, and I think the Constitution has something to say re Au and Ag.

Fri, 10/30/2015 - 11:15 | 6730924 my_nym
my_nym's picture

Still waiting on Libertarians to realize that their Jewish led and cultivated movement toward gold is meaningless because a monopoly on the "yellow brick road" has been established for hundreds of years and now even the "silver slippers" by which people can supposedly travel the road (note the poppy fields on the side) or shoot the vampires with a silver bullet (etc.etc.) have probably become monopolized too.  

How?  Why? Note what the Jews fear before all else, ethnically homogenous cultures that are aware (even if dimly) of the financial Wizards of Oz/gold.

 

Although the way some of these cultures and races are it probably doesn't even matter.  You may be better off with the Jews running things and literally having a debate between their own internal Right and Left right in front of you.  "What shall we do with these goyim?  I don't know.  Maybe we should try to diversify them, in order to diversify our investment portfolios."    "No, no... we need more war, release the McCainiac to tell them that war and sacrifice makes them part of something bigger than themselves!"  "Well, we bungled that...  how about more diversity? Send the Syrian refugees to Iceland?  They seem to be resistant.  Those Nordic, racist Nazis!"  

 

Hopefully that's still a satire and there's not some Jew out there following his tribal instincts ("conspiracy theory") that has already begun arguing:  "You know, Iceland should take in more refugees like Germany... and stuff, or somethin'."

 

Actually, it would seem that witless Whites from the North usually want to take in every bedraggled refugee to keep them warm by the fire before winter.   Their racial tendencies don't even have to be incited by Jews.  Then a little while later, the headlines:

 

(Iceland Banksters Set Free to Finance the New War on Brown People...  I mean Islam...  I mean, the War on Terror!)

(Iceland Becoming a Police State? Why?!)

(Feminist Women in Iceland Being Raped: What Does This Say About Icelandic Men?)

(Rising Antisemitism In Icleland:  Save the Jews, Transgendered and Women Minorities!)

 

At least the Jewish community there is so small and lacking in influence that they can't be blamed for the natural patterns of integration typical to the witless White tribes of the North and the Black and Brown tribes of the South.  Unless one argues:  "Well, it's the influence of the international Jews that want to monetize and integrate the entire world...  I mean the international, globalist media and stuff!  Or somethin'.  Globalists, or maybe the ghosts of lizard people?  Did I say Jew?  Oy vey!"

Fri, 10/30/2015 - 09:11 | 6730203 Dr. Engali
Dr. Engali's picture

What's this? Holding criminals accountable for their actions? Didn't they get the memo? The oligarchy is off limits when it comes to the laws of the country.

Fri, 10/30/2015 - 09:13 | 6730211 Albertarocks
Albertarocks's picture

All this courage coming from a country of only 325,000 Vikings.  I can't help thinking that the dark lords of banking would love to someday 'make them pay'.  But if just one or two other countries had the courage of the Icelanders, the bankers would be put back in their place forever.  And the world wouldn never pop the cork off that god damned bottle again.

Fri, 10/30/2015 - 09:16 | 6730238 Philo Beddoe
Philo Beddoe's picture

Didn't your province of 3 million recently vote communist? Do not hold out much hope is the point. 

Fri, 10/30/2015 - 09:25 | 6730271 Albertarocks
Albertarocks's picture

It's more a case that we "voted out arrogance", and then repeated the tossing of arrogance in the federal election.  Communist?  No.  So I'll excuse your taunt and just take your comment with a grain of salt since you obviously have no idea why we are doing what we are doing.  We sent a message.  This 'communist' government as you want to call it won't be here next term.  We handle our business our way and do just fine by not being bothered by opinions of trolls.  :-)

Fri, 10/30/2015 - 09:27 | 6730311 Philo Beddoe
Philo Beddoe's picture

What are you doing?  When things get shittier and shittier as a result of oil being in the shitter people will yearn for the days of arrogance.  Then they will realize that their good fortunes were based on the price of oil and not the idiots they elected. 

Fri, 10/30/2015 - 09:47 | 6730339 Albertarocks
Albertarocks's picture

Please take your attitude somewhere else.  This article and discussion is about Iceland.  If you're having a bad day, take two aspirin and get lost.

Fri, 10/30/2015 - 10:01 | 6730508 Lysander_Spooner
Lysander_Spooner's picture

600,000 Albertan  "communist" statist elected to be governed .  20% is not a very strong endorsment 

Fri, 10/30/2015 - 09:31 | 6730345 Doubleguns
Doubleguns's picture

AR, Me thinks a few cold dark winters in Iceland can cause a man to think about enjoying his 6 months of freedom from that and be damned if any bankers are going to screw that up. Put the bankers in a cold dark damp place where the sun does not shine the whole year through. I am sure they will be having no more of this from the bankers for centuries to come. 

 

Lesson learned. 

 

Unfortunately our bankers lesson learned is something entirely different. Hence the repeat performance we are getting just a short few years later. Maybe this next time.....one can only "hope" for "change" but that has not been working out so well either. 

Fri, 10/30/2015 - 09:45 | 6730437 Albertarocks
Albertarocks's picture

Holy shit partner, I haven't seen you for years.  How are ya?

Fri, 10/30/2015 - 11:12 | 6730914 Doubleguns
Doubleguns's picture

Hanging out here and SA but I guess we have not bumped into each other in a while. I have been doing fine. Hope the same to you. 

Fri, 10/30/2015 - 09:14 | 6730220 Mark Mywords
Mark Mywords's picture

Personally, I blame the gays getting married for Iceland's intelligence and focus on the people, not the banks.

Fri, 10/30/2015 - 09:15 | 6730228 SoDamnMad
SoDamnMad's picture

I hear it was jail or they throw the bankers into the volcano. Bankers decided jail was better.  Do we have any active volcanos in the US?

Fri, 10/30/2015 - 10:23 | 6730617 Bastiat
Bastiat's picture

We have some nice poaching pools in Yellowstone.

Fri, 10/30/2015 - 09:17 | 6730234 FranSix
FranSix's picture

The Icelandic financial crisis preceded the 2008 credit collapse by a healthy margin.

Fri, 10/30/2015 - 09:16 | 6730240 yogibear
yogibear's picture

Iceland did the right thing by stiffing the banksters.

This is icing on the cake.

Fri, 10/30/2015 - 09:20 | 6730242 undercover brother
undercover brother's picture

Iceland's bold autonomy and subsequent recovery is an example of something that will NEVER happen in the US or the EU without a full scale revolution where heads roll.  In both the US and EU, despite the charade suggesting otherwise, the banks own the government and are so fully entrenched in its daily operations, they will never allow themselves to be extricated.  

Fri, 10/30/2015 - 10:14 | 6730575 Ghordius
Ghordius's picture

a bit too simplified, imho

ever heard of bankers getting their bonuses curtailed? ever heard of megabanks shedding their humungous "investment banking" units? have a look, in some places this is happening

Fri, 10/30/2015 - 10:19 | 6730602 RaceToTheBottom
RaceToTheBottom's picture

It is always good to have a shining city of light on the hill to strive to be.....

Fri, 10/30/2015 - 09:18 | 6730245 chunga
chunga's picture

Nobody is going to cry about "wealth distribution"?

Fri, 10/30/2015 - 11:36 | 6731037 goldsaver
goldsaver's picture

Nope, because this is a case of returning the wealth to the theft victims not of stealing from the producers to give to the consumers.

Its the true spirit of Robin Hood.

Fri, 10/30/2015 - 09:18 | 6730249 JLM
JLM's picture

And the bankers freaked out when the russian's killed their ruling class. What are they going to do to poor Iceland.  This cannot be allowed to continue .... . lol

Fri, 10/30/2015 - 09:19 | 6730254 S Spade
S Spade's picture

sounds like communism is taking hold

Fri, 10/30/2015 - 09:21 | 6730262 Bill of Rights
Bill of Rights's picture

Very nice, most Americans would be filthy rich if we did the same, the thievery that has taken place in America over the last 40 years would enrich us all.

Fri, 10/30/2015 - 09:23 | 6730276 rejected
rejected's picture

Meanwhile, back in the states,,, the US Senate crept into the capitol in the dark of last night and passed the budget increasing yet another 80 billion. The deal will increase debt by a trillion over the next 16 months (at least what they admit to)  These snakes are the excrement of mankind. I'm not sure they rate even that high. There isn't a word in any language that properly describes their evil.

But I digress,,, they are the "elected representatives" of the People and I should be respectful. And Diebold will ensure they keep getting elected over and over and .... the People will suck their collective thumbs and collect what newly printed fiat they can. 

 

Fri, 10/30/2015 - 09:30 | 6730334 Bangin7GramRocks
Bangin7GramRocks's picture

The polling reflects that Diebold doesn't need to fix most elections. Poll question: What do you think of congress? Hate em'! What do you think of your congressman? Great guy! Does a lot of good for my town! That is the problem. Idiot murcans' love their guy because he gives them stuff. We are all takers in the end.

Fri, 10/30/2015 - 09:42 | 6730416 madcows
madcows's picture

As far as I'm concerned, it's boner's debt (and co.), not mine.  I refuse to pay for his unauthorized credit card largesse.

I didn't elect the SOB.  Hey, what ever happened to "taxation w/o representation" and that whole revolution thing?  Clearly the citizens are not being represented by their "government".

Dear Congress, the privelage to serve is not a right.  It is given by consent.  You don't have my consent.  GET OUT!

Fri, 10/30/2015 - 09:25 | 6730300 Wow72
Wow72's picture

Now that's justice

Fri, 10/30/2015 - 09:27 | 6730314 Trick Shroadé
Trick Shroadé's picture

It's funny that everyone here is applauding this but if the government did this here everyone would be screaming SOCIALISM!!!!

Fri, 10/30/2015 - 09:31 | 6730352 chunga
chunga's picture

Not everyone but you make a valid point.

Fri, 10/30/2015 - 09:37 | 6730383 Doubleguns
Doubleguns's picture

Very doubtful!!

Fri, 10/30/2015 - 09:39 | 6730399 alangreedspank
alangreedspank's picture

The people applauding this here ARE socialists. They'd be fine with it in the US as well.

Fri, 10/30/2015 - 10:03 | 6730526 chunga
chunga's picture

Naw, this just proves that terms like "capitalism", "socialism", etc. are obsolete.

I don't know the details of what happened in Iceland but what happened in USSA was pure, solid, premeditated criminal fraud. You've got banksters blowing bubbles and betting on them popping. When it did pop, they bailed themselves out at par while millions got froclosed and 1099'ed.

Fri, 10/30/2015 - 10:26 | 6730629 Bastiat
Bastiat's picture

Retuning stolen money isn't socialism.

Fri, 10/30/2015 - 11:13 | 6730915 Raymond_K._Hessel
Raymond_K._Hessel's picture

thank you.

Fro every "socialist" on this website there are at least 5 people who could not give you a satisfactory definition of it, or why they spend so much time railing against it, if you put a gun to their heads.

Fri, 10/30/2015 - 09:30 | 6730336 . . . _ _ _ . . .
. . . _ _ _ . . .'s picture

Wow, a good economic outlook AND helicopter money.
Geo-thermal means no need for wars of aggression over oil, either.
Long fire and ice.

Fri, 10/30/2015 - 09:31 | 6730348 jakesdad
jakesdad's picture

so it turns out the entire us (non)response was all a misunderstanding as a result of an auto-corrected text message...

 

obama:  eric, getting a lot of heat on this - BANK lives matter!!!

holder:  on it, sir!

Fri, 10/30/2015 - 09:31 | 6730349 my_nym
my_nym's picture

Iceland has no synagogue, no rabbis, no Jewish community center or organized structure. In fact, Judaism is not even one of Iceland’s state-recognized religions.

Still, Iceland has about 100 Jews who call this North Atlantic island home.

Read more: http://forward.com/news/181557/icelands-handful-of-jews-keep-faith-alive/#ixzz3q3dVumqB
Well, that was a surprise. First they jailed the bankers but I said nothing because I was not a banker.  Etc.
Fri, 10/30/2015 - 10:02 | 6730517 15horses1donkey
15horses1donkey's picture

Um. Does that matter?

Fri, 10/30/2015 - 11:14 | 6730917 Raymond_K._Hessel
Raymond_K._Hessel's picture

Um, are you serious with that shit?

Fri, 10/30/2015 - 10:31 | 6730641 maxwellsdemon
maxwellsdemon's picture

Great comment my-nym but I couldn't upvote it.   It warms my heart that more and more people are waking up

Iceland has no synagogue, no rabbis, no Jewish community center or organized structure. In fact, Judaism is not even one of Iceland’s state-recognized religions.

Still, Iceland has about 100 Jews who call this North Atlantic island home.

Read more: http://forward.com/news/181557/icelands-handful-of-jews-keep-faith-alive/#ixzz3q3dVumqB

Well, that was a surprise. First they jailed the bankers but I said nothing because I was not a banker.  Etc.

Fri, 10/30/2015 - 09:33 | 6730357 mijev
mijev's picture

“I am saying that the government take [sic]..."

No sic required. Government is a plural noun outside the US, like Police, so take is fine.

Fri, 10/30/2015 - 10:18 | 6730587 Fractal Parasite
Fractal Parasite's picture

Or it could be a subjunctive (also no “[sic]”).

https://en.wikipedia.org/wiki/English_subjunctive

the subjunctive lacks the -s ending: It is necessary that he see a doctor (contrasted with the indicative he sees).

The main use of the English present subjunctive ... expressing a circumstance which is desired, demanded, recommended, necessary, or similar.

Examples:
I insist (that) he leave now.

Fri, 10/30/2015 - 09:37 | 6730382 madcows
madcows's picture

So, they only get about 3 years for destroying the country's economy?

How about life in prison?

Fri, 10/30/2015 - 09:41 | 6730407 silverer
silverer's picture

The only civilized country left on the planet with the rule of law?  Imagine that.

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