it all started when bankers corrupted politicians to deregulate the banks. then the crooks opened up offshore trusts and started loaning themselves
money, with deferred interest.
they also bought stocks in their own banks and issued themselves loans to buy them, using the same stock as collateral.
basically the bank was buying its own stocks.
and to kick it all off, when the loans were due and the collapse was imminent, they wrote off all the loans.
they made the crooks on wallstreet look like nickel and dime bankers.
now every icelander is on the hook for over 160,000 euros. 1 euro is $1.40 american dollars.
when you convert it, it comes out to $224,272 usd. it makes the $14, 478 each american owes to other country's look like chump change.
then they all took off. now the u.k. and every institution that made loans to these banks want their money back and want icelanders to pay it.
icelanders are basically telling them to f-off, that's it's not their problem and that they're not going to pay what the bankers stole.
and the international financial community doesn't care who goes to jail, they want there money back. since the banks that owed the money are gone,
their only recourse is the icelandic people.
the same thing happened in america. but since americans are stupid sheep, you paid back the international bankers the $700 billion dollars that
american bankers and wallstreet put them on the hook for.
edit on 27-10-2011 by randomname because: (no reason given)