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originally posted by: NiZZiM
Gooooo Iceland!! I doubt the west would try to retaliate with "democracy" since Icelanders can't really be portrayed like they do the Middle East. I can see them trying some back door shady things to destroy the plan, because when the world sees that a western country is flourishing with the new bank laws they might wake up and demand the same.
originally posted by: MichiganSwampBuck
Iceland, I've often day dreamed of becoming a citizen. However, I don't like the latitude and don't feel like learning the language. Not really interested in their culture either, but I should at least look in to it.
originally posted by: bobs_uruncle
a reply to: arjunanda
Not just a good idea, but the BEST thing! Spending money into existence to produce value is a helluva lot better than borrowing money into existence with interest.
originally posted by: MrSpad
It is an interesting idea to not allow commercial banks to give lines of credit and only allow the central bank to do so.
Of course in a larger country this would not work as the central bank would never be able to cover enough lines of credit to keep an economy growing. Iceland is fun to watch because its tiny population allows it to try things no other nation could.