Yeah I just saw this too. I've heard some talking about this question and I think it's an important one to answer. Is Iceland going to be the model for what's coming for the rest of the world?

What's going on there is getting almost zero attention in the states.

Yikers! That stinks.

There are many who say we are headed for bankruptcy. Im not sure what that means exactly now that money is being created out of thin air. - BUT if we do end up heading for bankruptcy, how many countries will declare diplomatic war on us, and freeze our assets?

This is a bit disturbing, bringing up a lot of things I had not considered yet.

yeh, we know who to pick a nark with in this country! When he's done with Iceland Asda and Morrisons had better watch out. . .

Originally posted by Mintwithahole.
yeh, we know who to pick a nark with in this country! When he's done with Iceland Asda and Morrisons had better watch out. . .

Katona to the rescue.

This story would not be that interesting except for the fact he used ANTI-TERROR LAW'S!

These laws have been put in place and were so vague that many said they would be abused and here is the start of it.

At least we are not alone in this world when it comes to unprovoked unilateral war, eh?

using anti terror legislation to freeze the assests of foriegn companies for non terrorism related purposes?

what has going bankrupt got to do with any dangerous activities?,
once again we see that laws passed with promises of utmost respect and astuteness being broken whimsicly for political reasons!

iceland is a terrorist state

how do you freeze the assets of an entire country? what the heck are they going to do, sell the embassy building?

Originally posted by welivefortheson
using anti terror legislation to freeze the assests of foriegn companies for non terrorism related purposes?

what has going bankrupt got to do with any dangerous activities?,
once again we see that laws passed with promises of utmost respect and astuteness being broken whimsicly for political reasons!

The problem is not with the savings of pensioners, the big problem is that UK councils , police and transport authorities had more than £900m invested in Icelandic banks, money now seized by the Icelandic government. That is where Brown is coming from, he is trying to rescue that money. And that's certainly why he invoked whatever power he could. In fact the Icelandic PM did not seem that much bothered, mildly annoyed I would say judging by his declarations:

...Mr Haarde, asked if he felt there was a crisis in relations between Britain and Iceland, said: "I thought so for a few minutes this morning when I realised that a terrorist law was being applied against us. "That was not very pleasant. I'm afraid that not many governments would have taken that very kindly, to be put in that category and I told the chancellor that we were not pleased with that." But he said he had cleared up a number of issues with Mr Darling.

I can see at any moment Harry Hill's TV Burp featuring Brown against Katona , on the 'fight' segment.

I think that this is just the start of the end. One country is turning on another. How long until UK starts sliding just like Iceland and then someone turns on them? It's a chain reaction and the fuse has just been lit. It's going to turn into a complete economic meltdown and all the leaders are too busy pointing fingers at someone else.

Originally posted by jmlima

Originally posted by welivefortheson
using anti terror legislation to freeze the assests of foriegn companies for non terrorism related purposes?

what has going bankrupt got to do with any dangerous activities?,
once again we see that laws passed with promises of utmost respect and astuteness being broken whimsicly for political reasons!

The problem is not with the savings of pensioners, the big problem is that UK councils , police and transport authorities had more than £900m invested in Icelandic banks, money now seized by the Icelandic government. That is where Brown is coming from, he is trying to rescue that money. And that's certainly why he invoked whatever power he could. In fact the Icelandic PM did not seem that much bothered, mildly annoyed I would say judging by his declarations:

...Mr Haarde, asked if he felt there was a crisis in relations between Britain and Iceland, said: "I thought so for a few minutes this morning when I realised that a terrorist law was being applied against us. "That was not very pleasant. I'm afraid that not many governments would have taken that very kindly, to be put in that category and I told the chancellor that we were not pleased with that." But he said he had cleared up a number of issues with Mr Darling.

I can see at any moment Harry Hill's TV Burp featuring Brown against Katona , on the 'fight' segment.

i was lead to believe when you invest in something,as they all did,when that investment is a bad investment you loose,since that investment is money you will inherently loose that money.
when you make a good one you win and make a profit,its what its all about,effective desicion making.

its the way its always been,if the councils were foolish enough to invest in a risky enterprise an internet bank from iceland,then they have no comeback.

ohhh wait once again the councils are funded by the taxpayer thus they have been investing WITH OUR MONEY,behind our backs,without consent or say and carelesy.................WHAT IS GOING ON,where did this seperation between the state and the peopel begin!

its the councils who are liable and whom gordon brown should be scalding,but i see,hes doing this to distract us from the discrepancy that is the councils using taxpayers money to invest in private buisineses.

if i recall corectly some councils have been investing in BAE systems,an private arms contractor for the MoD,(ministry of defence)....

it would be interesting to see what councils have invested in what.

Originally posted by welivefortheson
....

i was lead to believe when you invest in something,as they all did,when that investment is a bad investment you loose,since that investment is money you will inherently loose that money.
when you make a good one you win and make a profit,its what its all about,effective desicion making.
...

Not quite. What the councils are seeking is to have the same protection has all the others clients of the banks, hence, and since the Icelandic government guaranteed the savings, they want their savings back.

Re your other question, the councils have not been doing anything illegal or scary, in fact:

... But councils say they have followed Treasury advice by investing surplus money to deliver the highest return for taxpayers. ...

So , it's actually Brown's fault in a sense...

RAMPANT STUPIDITY

Yaaa.. I said it.

1. British services like.. police, council, all that.. should NOT have invested their money in AN ONLINE BANK .. seriously.. anyone else finding this a little absurd? I would love to meet the idiot that thought this plan up.. instead of buying securities or investing in UK Gov treasuries.. they put all their money into online bank accounts over seas in a country that has had more than it's fair share of issues over the last two years. Those people get a big "what the hell where you thinking" ....

2. Mr. Brown, your a nincompoop .. yaa.. I said that too. Mr. Brown decides he is going to "stand up for those who save" .. which is complete garbage.. he's standing up as someone who is sticking up for the little guy while all the World's elite get bailed out and the average Human in the World right now thinks very lowly of their "Democratically elected" officials .. well except Brown, the people in the UK just look down on this "appointed by proxy" official.

So what does this absurd moron do? He demands that a bankrupt country pay him tens of billion British Pounds in return for the "savers" savings.. way to go dude, you not only managed to corrupt a law designed to protect the British Citizenry, but you made a complete ass of your self in the process. The Icelandic response was (I imagine suppressed laughter) "Now, mr. Brown, that was not very nice.. and no, you don't get your money back .."

3. All the stupid morons out there who think EVERY deposit is secured! While SOME countries have deposit protection systems, like the UK, France, America, etc, etc .. some do NOT .. and if a bank fails, that's one thing.. when ALL the banks fail .. quite another.

So we have poor Iceland, which the World SHOULD be trying to help any way possible right now .. is being viciously ATTACKED by a run away douche bag in the British Government invoking, among all things, a freaking TERRORIST law against the people. Sort of like.. an ambulance chaser (as we call them here in the States) .. Iceland falls apart at the seams, it looks like they are in for a very harsh depression.. and the UK is demanding what little money they have, freezing corporate assets and government investments which essentially is a club to the head of a drowning man!

Quite disgusting, if I may say so myself..

4. Even if Iceland has a deposit protection plan .. it would be paid in Icelandic Currency, the Krona.. eh .. if you ask for your money back in Krona, the Gov might just give you a whole boat load of Krona.. Krona for everyone! .. with inflation in triple digits, it's a matter of time before everyone on Iceland is a millionaire!

At least, I know if an Englishman puts 300k pounds into an American account, and the bank crashes, the FDIC only gives you 100k American dollars...

5. This time I will lay off the audacious Brits for a second (I really love you guys but you have to admit the idiocracy here lol..) this one goes to the Icelandic Banking system .. who extended their Banking assets to 1000% OF THE GDP .. Iceland's GDP is about 14billion.. amount of banking expansion? Over 100billion .. which, if 100billion of invested debts comes crashing around you.. 14billion will not stop it coming down.

Especially when the UK Government just froze all the legit investments you had.

Fear, panic, and political stupidity lead to irrational conclusions and actions... Personally, if I where in Iceland, I would advocate telling the UK to shove their deposits where it counts, and cut relations with them.

And you Brits ought not to be viciously politically assaulting small little countries like Iceland..

Dear God.. I pray the Irish banks don't fail next .. there are enough deposits from Brits in Irish banks to invoke another occupation!!

It is true that almost nobody in the United States is even aware this is happening.

Looks like Iceland is just the first domino in the line of countries tied to the world banking institutions to fall.Which country will be the next to fall?
Venezuela?Japan?What's your guess?

What happens to the US when China and the rest decide they want their money? This really is a serious problem. The MSM is probably ignoring it --- at the behest of the PWB --- hoping it will resolve itself. Like we need any more bad news.