Iceland Was Right, We Were Wrong: The IMF
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
Dead LA man who had 1,200 guns, underwater car identified; believed to be 'part alien' secret government worker
The mystery behind a Los Angeles gun fanatic found decomposing in a car last week has deepened as his fiancée's family said he was an alien-hybrid secretly working for the government.
The bizarre statement came Wednesday as the betrothed woman's lawyer identified the dead man as Jeffrey Alan Lash — almost one week after he was discovered rotting in his car ...
Britain Under Siege: Hundreds of Illegals Storm Eurotunnel Every Night
The volume of illegals trying to gain access to the United Kingdom via the railway tunnel beneath the English Channel is now so great, hundreds storm the French terminal every night.
Hoping to stow away on-board lorries or to ‘train surf’ to England, the migrants – of which there are an estimated 5,000 in the town of Calais at any one ...
Detroit's black rape gangs target couples
Victims forced into alleys, men made to watch sex assault on female companions
In a developing story, a gang of rapists in Detroit is terrorizing citizens in the crime-ridden city. Detroit police are looking for as many as six suspects after two rape and robbery incidents occurred on Thursday night within hours of each other. The same group may be responsible ...
Satanic statue unveiled in Detroit
Christians protest after the Satanic Temple unveils bronze Baphomet statue featuring a human body, goatâ€™s head and wings.
Several hundred people have attended a Mass at a US Catholic church to protest against an eight and a half-foot (2.6-metre)-tall bronze statue of Satan that hundreds of people also lined up to see.
The Satanic Temple had said it would unveil the ...
India's prime minister endorses call for Britain to pay reparations for colonial rule
Narendra Modi supports impassioned Shashi Tharoorâ€™s call for colonial ruler Britain to make reparations to India
Indiaâ€™s prime minister has praised an opposition MP who made an impassioned appeal for Britain to pay reparations for 200 years of colonial rule.
Narendra Modi said Shashi Tharoorâ€™s speech at the Oxford Union, which was posted online last week, â€śreflected the feelings of patriotic ...
|More News » |