Iceland Jails Bankers, Erases Citizens’ Debt, Recovers Strongly: No More Banks!
From Nesara News Blog: http://nesaranews.blogspot.com/2012/07/iceland-jails-bankers-erases-citizens.html
Icelanders who pelted parliament with rocks in 2009 demanding their leaders and bankers answer for the country’s economic and financial collapse are reaping the benefits of their anger.
Since the end of 2008, the island’s banks have forgiven loans equivalent to 13 percent of gross domestic product, easing the debt burdens of more than a quarter of the population.
The island’s steps to resurrect itself since 2008, when its banks defaulted on $85 billion, are proving effective. Iceland’s economy will this year outgrow the euro area and the developed world on average, the Organization for Economic Cooperation and Development estimates.
The island’s steps to resurrect itself since 2008, when its banks defaulted on $85 billion, are proving effective. Iceland’s economy will this year outgrow the euro area and the developed world on average, the Organization for Economic Cooperation and Development estimates.
Iceland’s approach to dealing with the meltdown has put the needs of its population ahead of the markets at every turn. Once it became clear back in October 2008 that the island’s banks were beyond saving, the government stepped in, ring-fenced the domestic accounts, and left international creditors in the lurch. The central bank imposed capital controls to halt the ensuing sell-off of the krona and new state-controlled banks were created from the remnants of the lenders that failed.
Iceland’s special prosecutor has said it may indict as many as 90 people, while more than 200, including the former chief executives at the three biggest banks, face criminal charges. That compares with the U.S., where no top bank executives have faced criminal prosecution for their roles in the subprime mortgage meltdown. The Securities and Exchange Commission said last year it had sanctioned 39 senior officers for conduct related to the housing market meltdown.
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Ian MacLeod
Iceland is a country that is worth – to the “elites” pennies by comparison with the U.S. They no doubt figure that after they’ve finished taking over the U.S. they can send in the military like they did to Iraq, destroy that place and take whatever they like. I doubt they’re in the least worried about it.
Ian
ChewyBees
I agree that Iceland may be just a backburner situation for the Global Cosanostra, as they would have to formulate an entirely different disinformation campaign to tackle that nation, especially when they’ve got 10 running at the same time. Even their half trillion dollar a year media advertisement scam can only take so much.
Then again, how long is that going to last in the coming months? It is no longer in question that the west in general is on the state of absolute collapse. The draconian legislation put in place in Canada, USA and Australia are prime examples of it. There is no doubt that the mobsters are not going to let go of what they have deceived for, stolen, raped, murdered, extorted, assaulted, coveted, and blasphemed. They cannot survive without their disinfo system, which includes poison food, poison education, poison media and poison nature. All of that is unsustainable. How they plan to pull this all of and still survive it is beyond me.
BTW, 2 weeks in an underground bunker with an elitist blowhard demanding his cookies, and as a guard you’d just say effit and blast em. They are no more prepared than grandma.