Iceland Was Right, We Were Wrong: The IMF
2012 08 24
By Jeff Nielson | TheStreet.com
For approximately three years, our governments, the banking cabal, and the Corporate Media have assured us that they knew the appropriate approach for fixing the economies that they had previously crippled with their own mismanagement. We were told that the key was to stomp on the Little People with "austerity" in order to continue making full interest payments to the Bond Parasites -- at any/all costs.
Following three years of this continuous, uninterrupted failure, Greece has already defaulted on 75% of its debts, and its economy is totally destroyed. The UK, Spain and Italy are all plummeting downward in suicide-spirals, where the more austerity these sadistic governments inflict upon their own people the worse their debt/deficit problems get. Ireland and Portugal are nearly in the same position.
Now in what may be the greatest economic "mea culpa" in history, we have the media admitting that this government/banking/propaganda-machine troika has been wrong all along. They have been forced to acknowledge that Iceland’s approach to economic triage was the correct approach right from the beginning.
What was Iceland’s approach? To do the exact opposite of everything the bankers running our own economies told us to do. The bankers (naturally) told us that we needed to bail out the criminal Big Banks, at taxpayer expense (they were Too Big To Fail). Iceland gave the banksters nothing.
The bankers told us that no amount of suffering (for the Little People) was too great in order to make sure that the Bond Parasites got paid at 100 cents on the dollar. Iceland told the Bond Parasites they would get what was left over, after the people had been taken care of (by their own government).
The bankers told us that our governments could no longer afford the same education, health care and pension systems which our parents had taken for granted. Iceland told the bankers that what the country could no longer afford was to continue to be blood-sucked by the worst financial criminals in the history of our species. Now, after three-plus years of this absolute dichotomy in economic policymaking, a clear picture has emerged (despite the best efforts of the propaganda machine to hide the truth).
In typical fashion, the moment that the Corporate Media is forced to admit that it has been serially misinforming us for the past several years; the Revisionists are immediately deployed to rewrite history, as shown in this Bloomberg Businessweek excerpt:
...the island’s approach to its rescue led to a "surprisingly" strong recovery, the International Monetary Fund’s mission chief to the country said.
In fact, from the moment the Crash of ’08 was orchestrated and our morally bankrupt governments began executing the plans of the bankers, I have written that the only rational strategy was to put People before Parasites. While I wouldn’t expect national policymakers to take their cues from my writing, when I wrote out my economic prescriptions for our economies I didn’t base my views on compassion, or simply "doing the right thing."
Rather, I have consistently argued that it was a matter of simple arithmetic and the most-elementary principles of economics that "the Iceland approach" was the only strategy which could possibly succeed. When Plutarch wrote 2,000 years ago "an imbalance between rich and poor is the oldest and most fatal ailment of all Republics," he was not parroting socialist dogma (1,500 years before the birth of Socialism).
Plutarch was simply expressing the First Principle of economics; something on which all of the modern capitalist economists who followed in his footsteps have based their own theories. When modern economists produce their own jargon, such as the Marginal Propensity to Consume; it is squarely based on the wisdom of Plutarch: that an economy will always be healthier with its wealth in the hands of the poor and the Middle Class instead of being hoarded by rich misers (and gamblers).
Read the full article at: thestreet.com
Also tune into Red Ice Radio:
Birgitta Jonsdottir - Financial & Political Update from Iceland
Bill Still - Hour 1 - The Money Masters & The Secret of Oz
William Dean A. Garner - Hour 1 - World Control, Gold & The Jesuits
Tracy Twyman - Alconomics, Money & Magic
Ellen Brown - The Web of Debt, The Manufactured Financial Crash, Global Tax & The Basel Accords
Joseph P. Farrell - Babylon’s Banksters, Global Financial Blackmail, Geo Warfare & The End Game
Ireland has done what the IMF wanted, but where is the reward?
Latest News from our Front Page
Your Smartphone Broadcasts Your Entire Life To The Secret Service
2014 09 23
Intelligence services collect metadata on the communication of all citizens. Politicians would have us believe that this data doesn’t say all that much. A reader of De Correspondent put this to the test and demonstrated otherwise: metadata reveals a lot more about your life than you think.
Ton Siedsma is nervous. He made the decision weeks ago, but keeps postponing it. ...
Scots were tricked into voting ‘No’ – Salmond
2014 09 23
London politicians gulled Scottish voters out of independence by making a false “vow” to grant Glasgow extra powers, First Minister Alex Salmond has said. He also raised the prospect of another referendum, saying the break-up is inevitable.
Alex Salmond, leader of the ’Yes’ campaign and the outgoing head of the Scottish National Party (SNP), told the BBC’s Sunday Politics program that ...
The Most Terrifying Thing About Ebola
2014 09 23
The disease threatens humanity by preying on humanity.
Suspected Ebola patient Finda “Zanabo” prays over her sick family members before being admitted to the Doctors Without Borders Ebola treatment center on Aug. 21, 2014, near Monrovia, Liberia. Photo by John Moore/Getty Images
As the Ebola epidemic in West Africa has spiraled out of control, affecting thousands of Liberians, Sierra Leonians, and Guineans, ...
Man bitten by Ebola patient flown to Switzerland
2014 09 22
Swiss authorities say a male nurse who was bitten by an Ebola patient while working in West Africa has been flown to Switzerland as a precaution.
The health ministry says the unidentified man was working for an international organization in Sierra Leone when he was bitten by a child infected with Ebola on Saturday.
The ministry says the nurse was wearing protective ...
Climate March in New York City Reveals Communists Demanding ’Revolution, Nothing Less’ - Trash the City With Garbage
2014 09 22
Tens-of-thousands of demonstrators took to the streets of New York City Sunday to demand political leaders take action on climate change.
While the protest remained peaceful, much of the “People’s Climate March” appeared to be made up of fringe elements of the political left.
Dozens of signs denouncing capitalism were spotted at the demonstration, often held by self-proclaimed socialists.
“Capitalism is destroying the ...
|More News » |