ICELAND'S BANKS WERE "NOT" TOO BIG TO FAIL, WE WERE SWINDLED!
February 18, 2013
The Tea Party bus rolled into our town in April of 2009. I was so angry about our government bailing out the banks deemed, "Too Big to Fail" we decided to go. I created my own banner stating, "No More Bailouts!" "Who Bails Me Out?" The unbelievable decision, by our government, to bail out the banks was a decision I knew that would ultimately cause the destruction of our country and life as we know it. In the past 5 years we have all seen the deepest depression we will hopefully ever experience. That decision, by our supposed leaders, has only cost the common man not those that created the havoc. They made the mess and we the tax payers were put on the hook to pay for it and clean it up. They prospered and we suffered. They profit and we lose our homes. They grow and we lose our jobs, businesses and ability to care for ourselves. They cheated and we starve. We were told that the bail outs were necessary and yet I never believed it. Now I had proof positive that we once again are "Misled and Government lies". Our government officials on both sides have been bank rolled into office by the corporations, insurance and bankers for one reason and that is to take everyone's last vestiges of property and wealth.
This year's World Economic Forum (WEF) annual 5 day meeting was held Jan. 23rd in Davos, Switzerland. Invited guests were the world's top decision-makers from North Africa who were to outline their reform plans and shed light on the political, economic and social transitions of their respective countries under the theme "Resilient Dynamism."
Conspicuously absent at the convention was an uninvited guest, Olafur Ragnar Grimsson the incumbent 5th term president of Iceland. Four years ago Iceland had also experienced a failed financial system but now they are experiencing a recovery with economic growth and low unemployment. President Grimsson states, "The primary reason is because we were wise enough to realize that this was a fundamental social and political crisis. Above all, we did not follow the traditional prevailing Orthodox views of the western world from the last 30 years. We introduced instead currency controls, we allowed the banks to fail, we provided support for the poor and we didn't introduce austerity measures of the scale you have seen in Europe. The end result, four years later, is that Iceland is enjoying progress and recovery very different from other European countries and the U.S. that suffered from the financial crisis." President Grimsson asked, "Why do these countries consider the banks to be the holy churches of the modern economy? Why are private banks not like airlines, tele-com companies allowed to go bankrupt if they have been operated in an irresponsible way? The theory that you have to bail out banks is a theory about bankers enjoying their own success and then letting the ordinary people suffer their failures through increased taxes and austerity. People in an enlightened democracy are not going to accept that in the long run." "One thing we learned after the collapse of the banks in Iceland is that our banks, like British banks and American banks and others are high tech companies. They hire engineers, mathematicians and computer scientists and when they failed the innovative sectors of our economy, the IT sector, the high tech sector in fact, all started to do better in the last three years than ever before and so the lesson is that if you want your economy to be competitive in the innovative sector of the 21st century a strong financial sector that takes the talent from these sectors, even a successful financial sector, is in fact bad news. If you want your economy to be competitive in the areas which really are the 21st century, innovation, technology and IT they must have the best minds not the bank buying the best minds."
Iceland, has effectively thumbed their nose at the rest of the world and those in charge, a government ruled by bankers and insurance giants have again been allowed to manipulate us into a deep hole of debt, depression and suffering. The common man suffers while the "banksters" again enjoy the profits and the high life and the "TOO BIG TO JAIL" felons continue to rule the hen houses of our modern day world. We were duped! Will the common man ever figure it out? I seriously doubt so until every last bit of savings, equity, retirement, C.D., 401K, mutual fund or asset has been stolen from the common man. Protect your family before it is too late! When the banks fail to open, after a long holiday, the common man will realize his complete enslavement to the 1% who rules the world. Then it will be too late to protect your family, your paper will be but toilet or wall paper!
Spot prices accurate as of
Fri Dec 4 14:43:58 PST