Iceland President At Davos: ‘Why Do We Treat Banks Like Holy Churches? It’s Time To Stop The Bailouts And Let Them Go Bankrupt !’

• Iceland President At Davos: ‘Why Do We Treat Banks Like Holy Churches? It’s Time To Stop The Bailouts And Let Them Go Bankrupt!’ 
  by http://dailybail.com/ 
  Liz Claman interviews Iceland President Olaf Grimsson at Davos.
  “We didn’t follow the traditional prevailing orthodoxies.  Unlike the U.S. and EU, we forced bank bondholders to take losses.  And the end result four years later is that Iceland is enjoying progress and recovery.  Europe should let banks that are managed irresponsibly go bankrupt.”

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Iceland FM: We Don’t Force People to Bailout Banks!

AMTV News: The Day ‘King Bibi’ Blinked ! Netanyahu Draws a Cartoon ‘Bomb’ at United Nations!

Iceland Was Right, We Were Wrong: The IMF !

• Iceland Was Right, We Were Wrong: The IMF! 
  By Jeff  Nielson, http://www.thestreet.com/ 
  VANCOUVER (Silver Gold Bull) — For approximately three years, our governments, the banking cabal, and the Corporate Media have assured us that they knew the appropriate approach for fixing the economies that they had previously crippled with their own mismanagement. We were told that the key was to stomp on the Little People with “austerity” in order to continue making full interest payments to the Bond Parasites — at any/all costs.
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  Following three years of this continuous, uninterrupted failure, Greece has already defaulted on 75% of its debts, and its economy is totally destroyed. The UK, Spain and Italy are all plummeting downward in suicide-spirals, where the more austerity these sadistic governments inflict upon their own people the worse their debt/deficit problems get. Ireland and Portugal are nearly in the same position.
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  Now in what may be the greatest economic “mea culpa” in history, we have the media admitting that this government/banking/propaganda-machine troika has been wrong all along. They have been forced to acknowledge that Iceland’s approach to economic triage was the correct approach right from the beginning.
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  What was Iceland’s approach? To do the exact opposite of everything the bankers running our own economies told us to do. The bankers (naturally) told us that we needed to bail out the criminal Big Banks, at taxpayer expense (they were Too Big To Fail). Iceland gave the banksters nothing.
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  The bankers told us that no amount of suffering (for the Little People) was too great in order to make sure that the Bond Parasites got paid at 100 cents on the dollar. Iceland told the Bond Parasites they would get what was left over, after the people had been taken care of (by their own government).
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  The bankers told us that our governments could no longer afford the same education, health care and pension systems which our parents had taken for granted. Iceland told the bankers that what the country could no longer afford was to continue to be blood-sucked by the worst financial criminals in the history of our species. Now, after three-plus years of this absolute dichotomy in economic policymaking, a clear picture has emerged (despite the best efforts of the propaganda machine to hide the truth).
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  read more!

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Iceland Dismantles Corrupt Gov’t Then Arrests All Rothschild Bankers…

• Thank You TheYoungTurks for some truth about the Banking Cabal…
  In 2008, Iceland didn’t bail out the banksters they arrested them. Now their economy is growing faster then the EU’s. More arrests were made today. Google: “Iceland arrests bankers” and learn about this. Original Video:
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  What We Can Learn From Iceland http://www.youtube.com/watch?v=64eI831eKY8&hd=1
  Iceland Dismantles Corrupt Gov’t Then Arrests All Rothschild Bankers http://www.dailypaul.com/241101/iceland-dismantles-corrupt-gov-t-then-arrests… 

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Iceland’s Rage Road To Recovery; Greece Ground To Dust !

Keiser Report: Greed of No Boundaries!

• YouTube:
  This week Max Keiser and co-host, Stacy Herbert, discuss stiffing the dead in Illinois and reviving the carry trade in Iceland.  In the second half of the show Max talks to Mike Maloney of GoldSilver.com about how high gold would have to go to account for all the money printing since Bernanke took over the Fed.

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Iceland Declares Independence From International Banks!

Gerald Celente: International Mafia Federation!

• Iceland said no to banksters and they are doing ok. Why should the public pay off the debts of irresponsible banksters? What is so special about them. Badly run corporations go bankrupt all the time throughout history. The economy adjusted and the world moved on.
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• The so-called Greek bailout is no bailout at all. The interest payments in 5 years time will total Euro$130B far more than the ‘bailout’ amount of Euro$110B. How does lending money to Greece (by IMF and ECB) at exorbitant interest rates bailout Greece? Of course, it doesn’t! This is simply predatory lending, debt enslavement and the use of fraudulent financial power to force the Greeks to sell off their national assets at fire sale prices. The corrupt politician snakes who are enabling the Illuminist banksters should be kicked out and charge for treason!
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  Iceland Declares Independence from International Banks
  By Bill Wilson, http://netrightdaily.com/
  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.
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  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.
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  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.
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  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.
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  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.
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  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.
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  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.”
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  “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.
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  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.
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  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.
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  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.
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  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.
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  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.
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  It is the conflict that has already defined the beginning of the  21^st Century.  The question is whether free peoples will choose  to remain free, as Iceland has, or to submit.
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  Bill Wilson is the President of Americans for Limited Government. You can  follow Bill on Twitter at @BillWilsonALG.

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