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Thread: ICELAND. No news from Iceland?… why?

  1. #1

    ICELAND. No news from Iceland?… why?

    [QUOTE]How come we hear everything that happens in Egypt but no news about what’s happening in Iceland:
    …
    In Iceland, the people has made the government resign, the primary banks have been nationalized, it was decided to not pay the debt that these created with Great Britain and Holland due to their bad financial politics and a public assembly has been created to rewrite the constitution.

    And all of this in a peaceful way. A whole revolution against the powers that have created the current global crisis. This is why there hasn’t been any publicity during the last two years: What would happen if the rest of the EU citizens took this as an example? What would happen if the US citizens took this as an example.

    This is a summary of the facts:

    2008. The main bank of the country is nationalized.
    The Krona, the currency of Iceland devaluates and the stock market stops. The country is in bankruptcy

    2008. The citizens protest in front of parliament and manage to get new elections that make the resignation of the prime minister and his whole government.
    The country is in bad economic situation.
    A law proposes paying back the debt to Great Britain and Holland through the payment of 3,500 million euros, which will be paid by the people of Iceland monthly during the next 15 years, with a 5.5% interest.

    2010. The people go out in the streets and demand a referendum. In January 2010 the president denies the approval and announces a popular meeting.
    In March the referendum and the denial of payment is voted in by 93%. Meanwhile the government has initiated an investigation to bring to justice those responsible for the crisis, and many high level executives and bankers are arrested. The Interpol dictates an order that make all the implicated parties leave the country.

    In this crisis an assembly is elected to rewrite a new Constitution which can include the lessons learned from this, and which will substitute the current one (a copy of the Danish Constitution).
    25 citizens are chosen, with no political affiliation, out of the 522 candidates. For candidacy all that was needed was to be an adult and have the support of 30 people. The constitutional assembly starts in February of 2011 to present the ‘carta magna’ from the recommendations given by the different assemblies happening throughout the country. It must be approved by the current Parliament and by the one constituted through the next legislative elections.

    So in summary of the Icelandic revolution:
    -resignation of the whole government
    -nationalization of the bank.
    -referendum so that the people can decide over the economic decisions.
    -incarcerating the responsible parties
    -rewriting of the constitution by its people

    Have we been informed of this through the media?
    Has any political program in radio or TV commented on this?
    No! The Icelandic people have been able to show that there is a way to beat the system and has given a democracy lesson to the world[/QUOTE]


    [url]http://ireport.cnn.com/docs/DOC-787377[/url]

  2. #2
    Iceland is a tiny, low-population (~320K total), utterly peaceful, almost 100% homogonous country smack in the middle of the Atlantic, with very few resources and very little economy, with close ties to Europe.

    First, not sure what News the article writer prefers, but I've heard all of this news reported. Reported in the U.S. as the minor news that it is in the grand scheme.

    What exactly is the point being made here? That the U.S. should do, with 350+ Million People, what the 320,000 of Iceland did, despite having completely different systems, scale and economies?

  3. #3
    The only thing thats shocking about this is that Kelly didn't post a link about it.

  4. #4
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    [QUOTE=Warfish;4472348]Iceland is a tiny, low-population (~320K total), utterly peaceful, almost 100% homogonous country smack in the middle of the Atlantic, with very few resources and very little economy, with close ties to Europe.

    First, not sure what News the article writer prefers, but I've heard all of this news reported. Reported in the U.S. as the minor news that it is in the grand scheme.

    What exactly is the point being made here? That the U.S. should do, with 350+ Million People, what the 320,000 of Iceland did, despite having completely different systems, scale and economies?[/QUOTE]

    The people has made the government resign.

    Thats good enough for me.

    -

  5. #5
    [QUOTE=32green;4472373]The people has made the government resign.

    Thats good enough for me.

    -[/QUOTE]

    Here, the people would be beaten by the bad bad policemen.

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    Pretty sure the takeaway is that we should invade Iceland. Sure, what could go wrong?

  7. #7
    [QUOTE=brady's a catcher;4472405]Pretty sure the takeaway is that we should invade Iceland. Sure, what could go wrong?[/QUOTE]

    Yeah but even if it goes OK, what do you have if you win?

    Iceland.

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    [QUOTE=FF2®;4472410]Yeah but even if it goes OK, what do you have if you win?

    Iceland.[/QUOTE]

    Ever been there? It's a gorgeous country.

    Iceland >>>>>>>> Massachusetts

  9. #9
    [QUOTE=JetPotato;4472470]Ever been there? It's a gorgeous country. [/QUOTE]

    +1

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    [QUOTE=Warfish;4472484]+1[/QUOTE]

    So it's decided. The Hampur invades Iceland. Will there be comp time?
    I mean, I have vacation coming up, wife wants to plan a trip. I'm fully on board though. They can't threaten us with their Ice...and their Land!

  11. #11
    [QUOTE=JetPotato;4472470]Ever been there? It's a gorgeous country.

    Iceland >>>>>>>> Massachusetts[/QUOTE]

    Why don't you live there?

  12. #12
    [QUOTE=brady's a catcher;4472491]So it's decided. The Hampur invades Iceland. Will there be comp time?
    I mean, I have vacation coming up, wife wants to plan a trip. I'm fully on board though. They can't threaten us with their Ice...and their Land![/QUOTE]

    I might need a ride.

  13. #13
    I'd much rather invade Greenland.

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    Icelanderers eat raw walrus pancreas as a delicacy....best not to mess with them.

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    [QUOTE=FF2®;4472493]Why don't you live there?[/QUOTE]

    Because NY >>>>> Iceland obviously

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    [QUOTE=frostlich;4472521]I'd much rather invade Greenland.[/QUOTE]

    I'm not sure if people realize that Iceland is a lot greener than Greenland, which is much icier than Iceland.

  17. #17
    Stopped reading at "the people has made..."

  18. #18
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    [QUOTE=JetPotato;4472531]I'm not sure if people realize that Iceland is a lot greener than Greenland, which is much icier than Iceland.[/QUOTE]

    I think that was a line from D2: The Mighty Ducks.

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    [URL]http://www.youtube.com/watch?v=0yKtgC2ydUA[/URL]

  20. #20
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    [QUOTE=Jetdawgg;4472333][URL]http://ireport.cnn.com/docs/DOC-787377[/URL][/QUOTE]

    The most important thing to know about Iceland is they have hot blond women who are notoriously easy.

    While the story of Iceland's revolution is interesting it is far from over. We will now see what happens next. They are the size of a small American town so it is much easier to forgive the debt they had vs what America or the EU/Greece has.

    In the future they may have trouble getting money because of their actions. Would you put your money into Iceland if it could easily be taken? I wouldn't. We will have to see what their new constitution and government look like and that will take time.

    I have been on the record as saying that I think the bailouts were bad. I think banks, car companies and people should have failed. Bankruptcy and failure breeds caution and risk minimization and I think that insuring bad decision making just makes bad decision making in the future more likely.

    Not that I wanted to see any redistribution in the form of bailouts but it the problem was the mortgage crisis and if we [B]had[/B] to bail anyone out I still think it would have been much better to take the money and pay off the majority of the primary mortgages out there. Supposedly 90% of the mortgages could have been paid off with the bail out money. At least it would have kept the money in taxpayer's pockets, kept the real estate market on it's feet (though still artificially high) and in the end the money would have gone directly to the banks anyway. It just would have helped the American people directly rather than handing it to banks who moved a lot of taxpayer money off shore.

    Once done they could have stiffened credit requirements, raised interest rates and begun to pursue a more fiscally responsible future.

    Granted this would have been a punishment for those like Warfish who has been saving to buy a house and who will benefit from the housing crash but I still see it as a better alternative to the money flush that was the bank bailout.

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