Iceland is a nice microcosm, particularly since it dabbled in the globalists’ playground and learnt how to be nationally self-destructive.  It’s no different to us but where we can’t see the forest for the trees,  in Iceland, it is staring everyone in the face:

Iceland has all but given up on agreeing a new deal with the UK and the Netherlands to repay more than 3.8bn euros ($5.2bn; £3.4bn) of debt.  It had hoped to avoid a referendum on the issue by agreeing a repayment plan before the weekend, but the vote is likely to go ahead on Saturday.

Opinion polls suggest Icelandic voters will reject a plan agreed last year.  A no vote could jeopardise billions of dollars of loans from the International Monetary Fund and other countries.

“The referendum is going to go ahead,” said Iceland’s Finance Minister Steingrimur Sigfusson.  “We have been trying to resolve the matter in another fashion but time has run out.”  However, he did say that the referendum could, technically, be cancelled at any point up to Friday night.

In there is a perfect example of the scenario – politicians pandering to the people in order to get elected as populists and then, in power, they join “the club” which sees the larger global picture, they commit their people to generations of penury and use referenda only if they can get a guaranteed result to reinforce their policies.

In Iceland, unlike in the UK, the people demand their say – after all, they have the oldest parliamentary tradition in the world – and they’re not fooled by the official explanations.  They actually do something about their conditions and engage in the process to achieve that.

Yes, they wanted to get on board with western consumerism – the whitegoods and really fine things were dangled in front of their eyes and like greedy children, they all said, “I want them, I want them, Nanny.”  They had no concept that, in real terms, you have whatever is the result of what you produce and thus the credit bandwagon rolled into Reykjavik.

Now the whole thing has imploded, they are saying, “No, I’m not paying back my debts.  They weren’t my debts, they were laid on us by the politicians.”  And what are the pollies terrified of?  Yep, that the IMF will not give them the bailout money.

The IMF – benefactors of the global economy.  By the way – did you notice the way the Bruderheist today has told Greece they should sell off their islands?  That’s beautiful – fund impossible schemes, the schemes implode and then they’re told to give away their sovereignty in perpetuity.

And the funniest joke of all is that no one seems to see how it was done, as in a magician’s trick.  There is something evil in the way the professional global usurers [the Venetians] lure naive people, like holding candy in front of a baby but without explaining the dangers and then, when it all implodes, they strip the people of their birthright.  It was done by Esau, it was exemplified in the semi-fictional Shylock, it’s still being done today.

9 comments for “Icesave

  1. March 5, 2010 at 08:30

    From the South Americans, (70s-80s), to South East Asia, (80s-90s), to Russia and proxies, (90s-2000), to G7 middleclass + more Russia proxies, (2000-2008), to the entire indebted nations, (2009……), the plan has always been the same….ownership via created debt, except when the military was/is needed, in turn funded by debt and patriotic sheep blood, to enforce patriotism and loss of freedoms on all nations via perceived fear and false flags.

    The faces change but the plan and the ultimate controllers remain the same, working via bought politicians

    If only the people would wake up.

    When all is said and done, did Greenspam really know what he was doing, and will it be enough to wake up the global population to a plan that will take away the future for hundreds of years?…Maybe! ! Because whether you take the blue pill, and pay off the UK, etc, or the red pill, and pay off the IMF, the end result is the same….. Sale of assets and Serfdom, there’s no Neo down this rabbit hole….The Matrix wins once debt is owed.

  2. March 5, 2010 at 09:05
  3. MadPiper
    March 5, 2010 at 13:43

    Thanks James and XXXL for improving my understanding of our reality. Now, how to protect ourselves?

  4. March 5, 2010 at 16:25

    Mad Piper:-
    The creation of money, in our current global system, can only be created via the creation of debt. When debt is created, the interest element required by the creditors is not created.

    In order to justify the creation of the debt, the borrower has to have evidence of repayment ability, say, a business plan.

    In order to pay down the interest, and debt, the borrower must execute his business plan, as planned, ie generate more cash than borrowed. In order to generate more cash, that cash has to be created via more debt, (credit), created somewhere else in the economy for another party.

    In other words for our economy (global) to proceed, debt must always increase. And whether the GDP increases at 1%, or 5%, continuously, any continuing increase is by definition, exponential. So on a graph, the growth slope from left to right steadily gets steeper, or, remains a straight line if plotted on a log graph. That slope can relate to GDP, of absolute levels of debt.

    Movements in interest rates work on the total amount of debt in a gradual manner. (eg renegotiated mortgage resets, or industry, or gov’t rolling over debt after contractual borrowing times expire) but the increases in interest repayments become inexorable, and crippling, over a period of time, requiring more debt creation to service them….ie a growing economy or a debauched currency.

    The massive global amounts of QE have failed to ignite economic growth to any marked degree, despite what moronic politicians claim, because we are reaching the end game for all paper currencies, where increasing injections of debt achieve less bang per unit with each marginal debt injection. Therefor the endgame is always a debauched currency. Gold is ringing the bell.

    Simultaneous with this global cock-up, we are fast approaching Peak Oil.
    Analysis shows that growth in GDP has been closely correlated with hydrocarbon consumption, for the last 100 years, and slight reductions in the consumption of hydrocarbon, (political oil price spikes for example) have had a devastating effect on the global economy, via the extraction of consumer wealth, by an effective hydrocarbon tax…..because of the exponential growth pattern reversal.

    If you can understand that previous paragraph, you can understand part of the reason for the sluggish response to QE in the face of large increases in hydrocarbon taxes for the last few years. (and the falling £ creating higher fuel prices too).
    Economists state that in recession, a gov’t must spend more to create growth, and in a boom, spend less so as not to “over-boom” the economy. This is anti-cyclical spending. Large increases in carbon taxes, at a time of virtual economic collapse, when QE is fully engaged, are pro-cyclical, tend to cancel out the effect of anti-cyclical QE and are, quite frankly, economically moronic!

    The whole, plus a lot of other factors will merge to create a future totally different to the past, a future not predicted by any extrapolations of past models….. An unpredictable future.

    The teams behind the curtains have realised this, (some only in part), but the policy reponse globally has for the most part been perverse, idiotic, and lacking in any coherent understanding of the totality of the brick wall we are racing towards. There is a recognition of competition for places at the World Governing Table, by certain actors. These actors have their own strengths, hence we see “currency wars” (google the book by singsong, or something like that……it’s written in Chinese and studied assiduously over there) acted out by Wall Street and certain western central banks and their proxies, and commodity wars played (mainly ) by the Chinese. We also see physical wars played by many players, at various levels of assymetry.

    This understanding is reflected in the EUSSR, and the one eyed scottish git efforts via legislation over here, and the US administration also, to control, in all ways, the indigenous populations, helped by fear created by obviously false flag operations. This is why I label them as perverse…because the warning were delivered decades ago, first really by Jimmy Carter, or by the first ME oil price spike, and the moronic politicians are now 30 years late to the table with their response! Every thought they have is either control, or lies,(global warming crap). Nothing positive seems to come out of these marxist MF’rs.

    Here is a podcast in a commitee room of the House of Commons which explains it far better than I. It is very good. It is 80MB, and 88minutes of very good listening. Enjoy

    Here is a speech warning of the men behind the financial curtain who are manipulation to this day

    And this probably resulted in assasination

  5. March 8, 2010 at 10:11

    From Jesse at the cafe 🙂

    “Voters rejected the bill because ordinary people, farmers and fishermen, taxpayers, doctors, nurses, teachers, are being asked to shoulder through their taxes a burden that was created by irresponsible greedy bankers.”

    It is interesting that the government of Iceland had already declared the vote of the people as ‘obsolete.’ One has to wonder when the voters will declare their current government and their representatives as obsolete. One would give them credit for at least allowing a vote on a referendum.

    Iceland is a victim of the neo-liberal economic deregulation of the 1990’s, in which a few bankers can buy the government, and rack up enormous profits for themselves in Ponzi like leverage, and then attempt to socialize the debt back to the people when their schemes collapse.

    Neo-Liberalism is a system of economic thought embracing the efficient markets hypothesis, the inherent good of deregulation and the natural impediment of government regulation, the necessity of free trade and globalization, the supremacy of the corporation over the individual person in the social economy, and supply side economics. It most likely favors a one world currency and consolidation of production into large corporate combinations or ‘trusts’ under the principle of laissez-faire.

    Neo-liberalism may degenerate into crony capitalism, or even corporatism, as its theoretical idealism of perfect rationalism and virtue falters against the reality of human behaviour. In times of financial crisis, for example, neo-liberalism ironically turns to centralized economic planning by allegedly private banks which appropriate public funds and the power of the monetary license to socialize private debts, and, in a strikingly Orwellian twist, eviscerate the discipline of the markets and the individual to preserve their freedom, and the well being of the private corporations. Although now largely repudiated, neo-liberalism has strong roots in the public consciousness, and its adherents hold considerable power in Western governments and among the ‘freshwater school’ of American economics.

    What makes neo-liberalism and neo-conservatism ‘neo’ or new is their attitude towards the relationship of the individual to the state. Both tend to denigrate and diminish the condition and rights of the inividual as compared to the consideration of the corporate system or the centralized command state.

    In the States, the Congress and the President have just ignored the massive protests against their own bank bailouts. The US was able to cloak its own debt assumptions through accounting frauds, claiming that the bailouts were repaid by the banks. The bailouts are wrapped in AIG, Fannie and Freddie, and the Federal Reserve. This is the advantage of owning the currency, the IMF and ratings agencies. And of course your media.

    Although Europeans and the markets are looking at the ‘PIGS’ for the next serious default as the economic hitmen are moving from Iceland to Greece, the real test of globalization in financial markets and the dominant control of the private banks will come in the UK, a sovereign people too proud and strong to go down into feudal servitude and the rule of tyrants easily. Or at least one would hope.

  6. March 8, 2010 at 11:14

    It seems to me that OTC derivatives are at the tipping point, the cliff-edge, when economies and finance thereof, roll over. In many cases, they were there in the background, contributing to mayhem.

    In situations relating to long term use, the evidence is overwhelming that their deployment and the subsequent roll-over was intentionally planned. Whether it was the roll-over, and consequent profit that was the motivation, implying corporate profit motivation totally without conscience, or in the case of Greece, the motivation was longer term, and would come under the heading of “Currency Wars”, given the reset this year of the global financial basket of currencies, is wide open to interpretation. Given the relationship of the players to western central banks, one’s interpretation must be bent towards “Currency Wars”!

    The current outrage expressed vocally by western politicians, under the over-arching flag of “We didn’t know”….”How Could We?”, is absolute hypocracy. They were responsible for the rules the regulators played by, and they were reponsible if and when the regulators failed to act, viewing their pecuniary receipts from manufacturers of these derivatives as more important than their employment duties. Western politicians are as guilty in terms of upcoming mayhem, as are the manufacturers of these instruments of financial destruction. They are administatively responsible for the multi-generational transfer of debt to the shoulders of the taxpayers.

    Clearly the lure of “Neo-Liberalism” described above, by Jesse, is both hypnotic and addictive, in terms of its recruitment and strength of following of it’s believers. Notable English bloggers, who also work in a “Finance Related” industy have recently voiced opinions on the Iceland debacle that raise serious questions relating to their moral compass.

    I used to respect those bloggers….

    Whether polticians will now follow their electorate, and regulate, or better yet, ban totally, the creation of these instruments, as part of an overall strategy to isolate casino activities, remains to be seen. Judge their actions, not their words…. they are proven liars. The balance of power, right now, says there will be words, but no real action! And remember that Western financial hegemony, absent manufacturing abilities, resides with financial manipulation of many global markets, and many global financial “scams”. Western finance largely owns the UN, IMF, BIS, WHO, WTO, and a host of other similars.

Comments are closed.