Iceland’s Hörður Torfason – How to Beat the Banksters
2012-12-17 0:00

By Alex Pietrowski | WakingTimes.com

The tiny Nordic European island country of iceland is presently experiencing one of the greatest economic comebacks of all time. After the privatization of the banking sector completed in 200o, the economy was thrown into a tailspin when over a five year period, private bankers borrowed 120 billion dollars (10 times the size of Iceland’s economy). A huge economic bubble was created, causing house prices to double, and making a small percentage of Iceland’s population rich enough to buy up overseas investments, mansions, yachts, and private jets, while leaving an absolutely un-payable debt for all Icelanders. Iceland was facing national bankruptcy.

In response to the failed banking system, in October 2008, Iceland’s revolution against this financial tyranny began, rather casually in the street, in front of the Icelandic general assembly.

In the duration of five months, the main bank of Iceland was nationalized, government officials were forced to resign, the old government was liquidated, and a new government was put in its place. By March 2010, Iceland’s people voted to deny payment of the 3,500 million Euro debt created by the bankers, and about 200 high-level executives and bankers responsible for the economic crisis in the country were either arrested or were facing criminal charges.

In February 2011, a new constitutional assembly settled in to rewrite the tiny nation’s constitution, which aimed to avoid entrapment by debt-based currency foreign loans. In 2012, Iceland’s economy is expected to outgrow the Euro and the average for the developed world, as estimated by the Paris-based Organization for Economic Cooperation and Development.

So how does a revolution like this take root and activate a citizenry to effectively respond to grand scale economic theft by bankers and politicians?




[...]

Read the full article at: wakingtimes.com





Related Articles
Voters in Iceland back new constitution, more resource control
Iceland Was Right, We Were Wrong: The IMF
More Icelandic bankers arrested


Latest News from our Front Page

The Viking ”Maine Penny” Mystery
2015-03-05 3:41
In 1957, during his second year of digging at the Goddard site; a large prehistoric Indian trade village in Penobscot Bay on the central Maine coast, local resident and amateur archaeologist Guy Mellgren found a small silver coin. The coin is later identified by experts as a Norse silver penny dating to the reign of Olaf Kyrre, king of Norway ...
The Sagas of the (Viking) Icelanders Shed Light on Golden Age
2015-03-05 3:40
The Sagas of the Icelanders have long been preserved as the most comprehensive specimen of the literary culture of the 13th and 14th centuries of Iceland. In writing these sagas, many attributes of the 10th and 11th centuries were conserved, particularly individual biographies, the history of family feuds, and the overall evolution of the one of the greatest settlements ...
Benjamin Netanyahu's Full Speech to Congress
2015-03-05 1:36
Here is the full speech of Pathological Zionist Liar Benjamin Netanyahu to the United States Congress. "And the Oscar goes too ...." Description from YouTube: Prime Minister Benjamin Netanyahu of Israel used one of the most prominent platforms in the world on Tuesday to warn against what he called a “bad deal” being negotiated with Iran to freeze its nuclear program, bringing ...
The FDA Admits That Prior to 2011 Over 70% of U.S. Chickens Contained Cancer-Causing Arsenic
2015-03-04 20:32
Prior to 2011, the cancer-causing toxic chemical Roxarsone, which in high doses could kill you, was being added to chicken feed on purpose, giving store-bought chicken the illusion of healthy coloring and plump appearance. Shockingly, this was the case with more than 70 percent of all U.S. chickens! A recent article was published stating that this continued to be the ...
The Truth About Starbucks New Coconut Milk: It Isn’t Really Coconut Milk
2015-03-03 22:14
In an attempt to appeal to the non-dairy crowd, Starbucks is bringing “coconut milk” to the masses. After a successful trial run in select cities at the behest of their customers, Starbucks has decided to push forward with their dairy alternative. Providing a non-dairy alternative to dairy and soy is the second most requested customer idea of all time from MyStarbucksIdea.com, ...
More News »