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Originally posted by kindred
The only thing that these people protect is themselves and their fascist agenda. Only an idiot would spend their way out of debt, but that's Gordon Brown all over.
Originally posted by jtma508
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.
Originally posted by Waldy
If you want to learn more about this from trusted sources I suggest you check out this link: indefence.is...
The reality is that if Gordon Brown doesnt stop the bully tactics, unborn Icelanders will have to pay for the debts of private banks that worked within the EES regulation and did nothing illegal. Why doesnt he declare terrorist law on the German and US banks that have gone bankrupt and not been able to repay all depositors?
Originally posted by blueorder
I am British and I dont think it was right to class Iceland as Brown did- it was a gamble, no amount of pussy footing around will change it, that isn't Iceland's fault that people CHOSE to invest in their clearly dodgy banks
Originally posted by Fang
Iceland was not 'Classed'. Anti- terrorist banking legislation was used to protect British interests. Specificaly, to stop money held by Icelandic banks in London being transfered.
The Banks weren't "Dodgy". They had high credit ratings. (seem my first post)
Originally posted by Waldy
Excuse me but those banks and the government were all working within the EES regulations and monitored by the EU and the financial ministries of the branch countries. The British government knew about this months in advance but still they kept their money in Icesafe and did nothing to try and solve this, instead they worsened the situation by using terrorist legislation and bankrupting the largest Icelandic bank that was actually in a pretty decent condition compared to many British banks.
And now Mr. Brown (the clown) is demanding that Iceland goes way over its legal limits of depositors guarantee knowing it will cause a debt that can never be repaid. The UK is even using IMF as a tool to blackmail Iceland into paying more than double its legal guarantees.
You are just talking about the surface and have no idea how seriously this has affected the people of Iceland. Life savings are lost, pension cuts, inflation of doom, housing market is frozen and 40% decline in property value predicted. And Mr. Brown expects us to pay for something that he and others in charge of the EES and UN could have prevented months ago?
Im telling you, there has to be an agenda behind all this that hasnt surfaced. This was an economic assasination of a nation and you must see it if you open your eyes!
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. . .
Originally posted by Fang
To put it simply, Governments act in their own interest and those of their citizens. All Governments do this, yours too if they had been given the opportunity. As things stand the British Govt. will have to spend £ millions compensating those who were involved with your Banks because of the shortfall.
Originally posted by Universal Light
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.
Whilst I agree with your sentiments about GB, your seem to have the wrong end of the stick about the spending. It's not about "spending our way out of debt", it's about spending our way out of recession. Two different things entirely.
Big Government projects/spending has historically always either staved off a recession or at the least, mitigated it's affects well.
It provides employment, simple as. For example, before now the UK's big Carrier projects were looking uncertain, now they are going ahead full steam. The project will ensure tens of thousands of jobs for several years at least.
Crossrail is another project that looked shaky until recently, now they are poised to spend nearly £20 Billion on the project, which in turn will provide employment up until at least 2017 in construction and for many years after in employing staff to operate it.
Ian Dales Diary
Blame the Bankers If You Like, But Brown Is the Real Culprit
'A global problem which required a global solution', says Gordon Brown, trying to make out that he has been the instigator of the so-called global solution. What he doesn't tell you, of course, is that Britain and America are the only two countries which have been hit in such a devastating way. There's a reason for that. With Brown as chancellor Britain let its finances get out of control and encouraged a debt boom, the like of which we had never seen before. Countries which managed their finances more conservatively have had fewer problems. Any rescue packages they are having to impose are largely due to the collapse in world markets because of what has happened in American and Britain, rather than in their own countries.
The Conservatives must not let Brown off the hook. He set up the current regulatory system and must be held responsible for it. It has failed and he is the man to blame. He was told over and over again the tripartite system was not working, yet took no notice whatsoever. It's all very well to blame bankers for taking short term risks - but the regulatory system which Brown was responsible for not only allowed them to do so but positively encouraged such behaviour. The warnings were there, but Brown ignored them.
There is little doubt that today marks a landmark in Britain's economic and political history. The long term political consequences are impossible to determine yet. Labour apologists (and to some extent parts of the media) are trying to spin this as the day Gordon Brown discovered his vision for Britain - see Jackie Ashley's (third) volte face in today's Guardian.
What a pity it cost us all £37 billion in the process.
SHADOW chancellor George Osborne yesterday accused Gordon Brown of deepening the economic downturn by trying to "spend his way out of recession".
Mr Osborne (above) claimed Government plans to stimulate demand would result in a burden of debt which could take a decade or more to pay off.
The policy of borrowing more to pay for a state "spending splurge" was "a cruise missile aimed at the heart of the economy", which could force income tax up by 4p in the pound, he warned.
In a speech drawing dividing lines between Conservative and Labour approaches, Mr Osborne branded the Prime Minister "irresponsible" for suggesting the Government can "borrow without limit" to stave off recession.
Voters now have a clear choice between future Labour tax hikes to repay huge national debt, or a Tory "responsible road to recovery" which will eventually bring down levies, he said.
Whale meat imported from Iceland and Norway has gone on sale in Japan, according to the Icelandic firm which caught and exported most of the meat.
Hvalur hf told BBC News that after completing food safety checks, the meat was now being distributed.
The consignment is Iceland's first whale export to Japan in 20 years.
The trade is legal because all three countries have registered exemptions to rules banning international trade in whale products.