Icelanders Storm Their Central Bank

Icelanders Storm Their Central Bank

www.therightperspective.org

Icelanders marked their 90th anniversary of sovereignty from Denmark Monday by taking to the streets in protest against the rapid devaluation of their currency and storming their Central Bank, Seðlabanki.

The tiny Nordic nation of 300,000, which only last May was named “The Happiest Place On Earth” by the UN, saw its fortunes turn on its head in a matter of days in October after its banks, Kaupthing, Landsbanki and Glitnir, collapsed under the weight of billions of dollars of debt accumulated in an aggressive overseas expansion. While all three banks have been nationalized, Glitnir filed for bankruptcy protection on November 26th and Iceland’s largest bank, Kaupthing, filed on Monday.

(visit the link for the full news article)

Really intense.... all the banks in Iceland have filed for bankruptcy in American courts and now want their situation filed there.... Icelanders storming their own Federal Reserve... the one thing that also struck me was that the crowd did not get too violent, and the police chief was able to go into the crowd and talk them into going home. Weird country!

www.therightperspective.org
(visit the link for the full news article)

This is nothing, it was 50 kids that left school early and had nothing better to do but protest. However, the situation in Iceland can be mostly blamed on one mans actions or lack of, David Oddson, the governor of the central bank and former prime minister. He is like the Godfather of modern Iceland and his mafia controls the country, there will be rebellion to kick them out if they wont resign like the people are demanding.

[edit on 2-12-2008 by Waldy]

Iceland Parliament to Oust Central Bank Chief

Iceland's parliament passed a bill Thursday that will oust the country's central-bank chief, David Oddsson, who is widely blamed for a banking-system collapse that has wreaked havoc on the island's economy.....

But by law, the central-bank chief can't be fired, and Mr. Oddsson publicly refused Ms. Sigurdardottir's entreaties.

So Ms. Sigurdardottir crafted a bill that reorganizes the central bank -- and requires that its governor have a master's degree in economics. Mr. Oddsson, a lawyer, doesn't have that credential.

Text

All that was required was a bit of creativity on the part of the interim PM.

I doubt that Bernanke will ever take it upon himself to offer his resignation, but I wager he goes to bed some nights hoping Obama will ask him to.

Party in Iceland tonight.

GL

Delete this post.

Anger has taken over my point of logic with one such member.

[edit on 26-2-2009 by mr-lizard]

Those crazy Icelanders. Always so ahead of us Americans.
When do we get to do this?

Originally posted by projectvxn
Those crazy Icelanders. Always so ahead of us Americans.
When do we get to do this?

US Fed is the Alpha-CB. Shuffling chairmen mid-stream could have a tumultuous effect on global confidence. It would probably require an Icelandic style gov collapse to initiate any changes at the top.....slim chance.

Geithner on the other hand appears vulnerable ?


Fringe Files:

Jim Rogers Calls For Bernanke’s Resignation

Senator Bunning: I sincerely believe that Henry Paulson and Ben Bernanke should resign

Ron Paul: Abolish the Federal Reserve


[atsimg]http://files.abovetopsecret.com/images/member/7c00536ae3a5.jpg[/atsimg]

*Copernicus was labled a Nutter too*

GL

[edit on 26-2-2009 by OBE1]

reply to post by Dec1513

collapsed under the weight of billions of dollars of debt accumulated in an aggressive overseas expansion.

This makes sense. The more aggressive the expansion the more any government is screwed.

These events in iceland are interesting because I think they are going to happen in the united states soon enough. So we can learn what to expect from iceland.

Nevertheless, those responsible are - unaffected.

It is difficult to imagine the chaos these people are suffering.

All for profit, all for gain, all for nothing of value to them now.

Financial Sector Bubble

The unwinding of the carry trade...killed the Krona. A hedge fund..err, I mean Iceland' domestic economy - GDP 14BB - servicing foreign debt valued @ 100BB - proved unsustainable as European real estate values collapsed.

The Krona sold-off - the rest is sad history.

The bankers blew-it.

To the yardarm with 'em.

GL

bankers=criminals; central banks=criminal centres of activity..

how the central bank of england was set up... some rich bankers (probably international) pooled their gold reserves and created it. they asked, and the govt approved, from them to be able to lend at over 16 times the amount of gold they had in reserves... so printing paper money to the tune of 16 times what they actually had (ie. valueless money really)... then they lent this money to the british govt, and said, just pay us back in interest not capital for the first year. in the first year, just the interest on the loan was more than the banks reserves anyway. a tidy profit from doing nothing. and every time the govt borrows to repay its loans to central bankers (who are private individuals lending to a whole COUNTRY, no wonder theyre so rich), guess who has to pay? the taxpayer.

central banks are a crazy idea. it would be better if the govt printed its own money based on the economic resources of the country and didnt borrow from a central bank... why do it?

america originally refused to have a central bank, but after many years of trying and failing, the international bankers (rothschilds/rockerfeller types etc) eventually got round it by calling it the federal reserve - making it sound like a govt body ; and being very very careful never to say the phrase 'central bank'..

now they're everywhere, and look whats happened to our economies..and to fall next, will be our democracies...all as a result of central banks creating individuals with too much power and more money than god.

heres how banking started...
people were sick of carrying gold around to buy things, so they left the gold at a goldsmiths and he gave them a promissory note. a promise to pay in gold to the amount of the note.. they could go to the bank any time and get something of value (gold) for the note they were holding. it was worth SOMETHING at least (altho golds not much use if you're starving for example).
The bankers/goldsmiths noticed they had a lot of gold lying around doing nothing. they though, hmmm... well, its not our gold, as such, but how about we lend some of it to people anyway? so they printed promisory notes for the value of some of the gold (which wasnt theirs to lend) and gave it to people to buy goods with. they Lent it to people. And in return they got interest on the loan (gold back). and they hadn't actually done anything except lend someone elses money.

great, they thought. money from nothing. at at this time, there were two lots of promissory notes circling for every gold bar/coin or whatever. so one promissory note was essentially worthless - there was nothing backing it - no gold, no nothing. and bankers got greedier.. instead of printing one extra lot of notes, we could lend at five t imes what we've got in gold (that's not ours) !!! - we could print five lots of notes, and lend them and get even more interest... yay.~~~ and so inflation was born. and its been climbing at 3 per cent ever since...

except the situation is now even worse, since the gold standard was abolished, so now, when you take your promissory note back to the bank and say, can i please have my gold now? they say, gold...what gold????
the note is just symbolic. its no longer actually exchangable for anything of value. the only reason you can buy things with it, is because people accept it. no one demands any gold from you... they accept paper money that is essentially worthless, just because they can go out and buy things with it, because other people everywhere are also accepting paper money that is essentially worhtless...

now, where did all the gold go, by the way? I wonder..

or to put it another way... you have some chickens that you dont want to take to market all the time. you want a basket of apples. so you write out a note promising to pay apple guy one chicken next t ime he comes to your farm. he believes you will and accepts the note. this money has value, cuz its backed by something of value (a chicken) that people actually NEED to survive... you COULD write your own money, it would probably make more sense for people to accept it too...(rather than paper money thats not backed by anything, particularly during inflation, which is just what happens when people finally realise theres a lot of worthless money circulating and suddenly dont attach much value to it)..

yep, and if chicken guy was a banker, he would be writing more notes than he had chickens, and giving them to people so he could buy more goods (and get rich), and hope that all his creditors didnt come looking for their chickens at the same time...

who are the main culprits re: international bankers? jp morgan; rothschilds; rockerfellers..and their affiliates which are very many..

rothschild apparantly made his money by being banker for a german king /prince i think; the king was sending mercenaries to uk to fight, and getting paid a lot of money (meanwhile the germans had also married into the british throne).. the german king/dynasty got VERY rich as a result, and rothschild was there to look after the money..
apparantly rockerfellers were sort of a cover for rothschild interests in america; and maybe provided funding etc (see the book rule by secrecy by jim marrs for better detail)..

anytime there is a war, international bankers can apparantly be seen to be lending to both sides; then lending again to fund the rebuilding etc. so govts go into huge debts to international bankers (private individuals) every time we have a war... its win win to them.

any surprise then that so many politicians and cia high up in us govt (and other govts probably) including advisors to the president (specially foreign policy advisors) are, were or have been either bankers themselves or have banking interests or come from families affiliated with international banking..

and most people dont have a clue. i suspect this might be why we have so many wars that most of the population doesnt want. (incluidng internal conflicts);- also arms dealers benefit quite a lot too from wars.

According to leo zagami (see on utube) - supposed to be an ex illuminati arms dealer - its all about money...

haha we need to start making and using our own money!
Out of Gold!
Stuff them!
They cant arrest all of us!

i just wanted to post a smiley face but the board wont let me... censorship!!!!

How is something that happened in December of 2008 considered breaking news?

Also the search feature here at ATS is amazing as this has also been posted previously.