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<DIV><FONT face=Arial size=3>Here is another article about Iceland's response to
the international banks, the example of which should be followed by Greece and
Ireland.</FONT></DIV>
<DIV><FONT face=Arial></FONT> </DIV>
<DIV><FONT face=Arial>David J.</FONT></DIV>
<DIV> </DIV>
<DIV style="FONT: 10pt arial">----- Original Message -----
<DIV style="BACKGROUND: #e4e4e4; font-color: black"><B>From:</B> <A
title=dlj725@hughes.net href="mailto:dlj725@hughes.net">David Johnson</A> </DIV>
<DIV><B>To:</B> <A title=dlj725@hughes.net href="mailto:dlj725@hughes.net">david
johnson</A> </DIV>
<DIV><B>Sent:</B> Sunday, August 07, 2011 6:38 PM</DIV></DIV>
<DIV><BR></DIV>
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<H1 class=entry-title>Freedom!!! Iceland Declares Independence from
International Banks</H1>
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<P>Iceland Declares Independence from International Banks</P>
<P>By Bill Wilson </P>
<P>Iceland Declares Independence from International Banks<BR>By Bill Wilson </P>
<P>June 21, 2011 “Netright” — – Iceland is free. And it will remain so, so long
as her people wish to remain autonomous of the foreign domination of her
would-be masters — in this case, international bankers.</P>
<P>On April 9, the fiercely independent people of island-nation defeated a
referendum that would have bailed out the UK and the Netherlands who had covered
the deposits of British and Dutch investors who had lost funds in Icesave bank
in 2008.</P>
<P>At the time of the bank’s failure, Iceland refused to cover the losses. But
the UK and Netherlands nonetheless have demanded that Iceland repay them for the
“loan” as a condition for admission into the European Union.</P>
<P>In response, the Icelandic people have told Europe to go pound sand. The
final vote was 103,207 to 69,462, or 58.9 percent to 39.7 percent. “Taxpayers
should not be responsible for paying the debts of a private institution,” said
Sigriur Andersen, a spokeswoman for the Advice group that opposed the
bailout.</P>
<P>A similar referendum in 2009 on the issue, although with harsher terms, found
93.2 percent of the Icelandic electorate rejecting a proposal to guarantee the
deposits of foreign investors who had funds in the Icelandic bank. The
referendum was invoked when President Olafur Ragnur Grimmson vetoed legislation
the Althingi, Iceland’s parliament, had passed to pay back the British and
Dutch.</P>
<P>Under the terms of the agreement, Iceland would have had to pay £2.35 billion
to the UK, and €1.32 billion to the Netherlands by 2046 at a 3 percent interest
rate. Its rejection for the second time by Iceland is a testament to its people,
who feel they should bear no responsibility for the losses of foreigners endured
in the financial crisis.</P>
<P>That opposition to bailouts led to Iceland’s decision to allow the bank to
fail in 2008. Not that the taxpayers there could have afforded to. As noted by
Bloomberg News, at the time the crisis hit in 2008, “the banks had debts equal
to 10 times Iceland’s $12 billion GDP.”</P>
<P>“These were private banks and we didn’t pump money into them in order to keep
them going; the state did not shoulder the responsibility of the failed private
banks,” Iceland President Olafur Grimsson told Bloomberg Television.</P>
<P>The voters’ rejection came despite threats to isolate Iceland from funding in
international financial institutions. Iceland’s national debt has already been
downgraded by credit rating agencies, and now those same agencies have promised
to do so once again as punishment for defying the will of international
bankers.</P>
<P>This is just the latest in the long drama since 2008 of global institutions
refusing to take losses in the financial crisis. Threats of a global economic
depression and claims of being “too big to fail” have equated to a loaded gun to
the heads of representative governments in the U.S. and Europe. Iceland is of
particular interest because it did not bail out its banks like Ireland did, or
foreign ones like the U.S. did.</P>
<P>If that fervor catches on amongst taxpayers worldwide, as it has in Iceland
and with the tea party movement in America, the banks would have something to
fear; that is, the inability to draw from limitless amounts of funding from
gullible government officials and central banks. It appears that the root cause
is government guarantees, whether explicit or implicit, on risk-taking by the
banks.</P>
<P>Ultimately, such guarantees are not necessary to maintain full employment or
even prop up an economy with growth, they are simply designed to allow these
international institutions to overleverage and increase their profit margins in
good times — and to avoid catastrophic losses in bad times.</P>
<P>The lesson here is instructive across the pond, but it is a chilling one. If
the U.S. — or any sovereign for that matter — attempts to restructure their
debts, or to force private investors to take a haircut on their own foolish
gambles, these international institutions have promised the equivalent of
economic war in response. However, the alternative is for representative
governments to sacrifice their independence to a cadre of faceless bankers who
share no allegiance to any nation.</P>
<P>It is the conflict that has already defined the beginning of the 21st
Century. The question is whether free peoples will choose to remain free, as
Iceland has, or to submit.</P>
<P>Bill Wilson is the President of Americans for Limited Government. You can
follow Bill on Twitter at @BillWilsonALG.</P>
<P>silentVictim · 2 weeks ago </P>
<P>“… The state did not shoulder the responsibility of the failed private banks”
Iceland President Olafur Grimsson told Bloomberg. All power to him. This shoulda
been the response in Yanklandia as well. Instead, a corrupt and venal Kongress
handed over billions of taxpayer “full-faith-and-credit” money to phuckin’
private banks. Most of which ended up getting off-shored. And don’t expect
nuthin’ different from Yanklandia’s Bilderberg-appointed president-to-be,
Demokrat turn-coat, James Richard “Rick” Perry. This Kunt is guaranteed to sell
Yanklandia down the river just like any self-respectin’, god-blessin’,
feather-nestin’, president should. </P>
<P>“Too big to fail? Too big to remain in private hands.” This should be the
mantra on every politician’s lips. In a sane world, it would be axiomatic that
any private institution which is vital to national sovereignty needs to get
nationalized real quick. Starting, naturalmente, with the privately owned and
run Federal Reserve. You know, the private institution which ‘coins’ the Merkin
currency and sets interest rates for the entire country. </P>
<P>Bill Wilson has the right of it … “The question is whether free peoples will
choose to remain free, as Iceland has, or to submit.” The problem, however, is
not as Bill defines it … one of Big Government. But of utterly Korrupt
Government in the groping hands, like TSA victims, of Big Money. Fraudulent
money. Debt money. Thin-air money. Money of the kind which grows on trees rather
than from the sweet of men and women’s brows. </P>
<P>God bless the people of Iceland for rejecting a usurious agreement which
woulda forced them to pay phuckin’ £2.35 billion to the UK and €1.32 billion to
the Netherlands on behalf of greedy, venal, private interests. </P>
<P>Chicken shit by global financialist standards. But it’s the principle of the
thing. The Grand Viziers and Poobahs behind the New World Ordure cannot allow
Iceland to get away with welching on their ‘debt’. </P>
<P>But no doubt that will be left to another occasion … after Greece has been
dealt with. Not to mention the rest of the PIIGS. And then, of course, the UK,
Germany, and Yanklandia itself. Under the upcoming Captaincy of Governor “Rickus
Dickus” Perry, born March 4, 1950, 47th and current Governor of Texas …
http://en.wikipedia.org/wiki/Rick_Perry </P>
<P>.New Zealand · 2 weeks ago </P>
<P>There is no danger of the cowardly torturing,drone driving ameriscum becoming
as brave as the Vikings. </P>
<P>I forget · 2 weeks ago </P>
<P>WAY TO GO ICELAND! CAN YOU HAVE A TALK WITH IRELAND NOW? Because this is
exactly what Ireland should do. Greece I’d have to put in a different category
as there’s ample evidence to suggest they deliberately fudged their books,
overstating their assets and understating their liabilities to get into the EU
in the first place. Will, the first poster suggests they loved it when
investment was pouring in. Who wouldn’t? They got some capitol improvements out
of the deal and not a bunch of worthless paper. The banks behaved criminally and
fraudulently, investors in their funds all over the world lost out bigtime.
Iceland didn’t play their game. They are playing by the rules. This isn’t
socializing losses, it’s just simple, sound business: don’t reward criminal
behavior. </P>
<P>Well it does sound like we in the USA are on the hook for Greece anyways. The
banks that stand to loose if Greece defaults (and EU doesn’t bail them out) are
French but these banks are underwritten by…..you guessed it. American banks. You
know, the guys who invented this worthless paper, made huge money on commissions
selling it and then turned right around and shorted it. See, this TRULY fits the
definition of privatized profits and socialized losses. </P>
<P>which = fascism!</P>
<P>Cemal Guven Asti · 2 weeks ago </P>
<P>Taxpayers should take the burden of Private bank’s failure.<BR>Just like any
business if a bank goes under , it must be allowed to do so. No point injecting
stereoids into a dead horse.<BR>In between what happened to 4 billion sterling
invested by British+Dutch investors ? For a small country like Iceland this is a
lot money<BR>When that money flowed into Iceland it boosted their economy. Joorg
and Johanna shopped around and helped themselves with consumer goodies..<BR>Now
they are asked in referendum whether to pay or not?<BR>Ask any person who has
borrowed money ig he wants to pay back or not?<BR>It is just laughable that
people of iceland decides on a referendum that it is outcome is obvious. </P>
<P>banks produce fiat crap money then want us to repay them with our real money-
get stuffed – you owe- you pay- allow the rest of us that choice- Fxxx the
banks!</P>
<P>o · 2 weeks ago </P>
<P>“Gullible government officials”? PUH-leeese. Christ. On another note… The
writer suggests that maybe taxpayers in other countries will follow Iceland’s
lead and introduce fear into the heart of the banking cartel. Nope – the
difference is that the government of Iceland is fiercely independent and appears
to actually represent the interests of the people it was elected to represent…
this is unlike many other European countries and most definitely unlike the
United States where the federal government is collusion with the banking cartel
and with major corporations and is actively working against the interests of the
people it pretends to represent. . </P>
<P>It is the conflict that has already defined the beginning of the 21st
Century. The question is whether free peoples will choose to remain free, as
Iceland has, or to submit.</P>
<P>FREEDOM ANYDAY!</P>
<P>CONGRATULATIONS ICELAND!</P></DIV></DIV></DIV></BODY></HTML>