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 Icelandís approach to economic triage was the correct approach right from the beginning.

What was Icelandís 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 islandís approach to its rescue led to a "surprisingly" strong recovery, the International Monetary Fundís mission chief to the country said.


In fact, from the moment the Crash of í08 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 wouldnít expect national policymakers to take their cues from my writing, when I wrote out my economic prescriptions for our economies I didnít 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 - Babylonís Banksters, Global Financial Blackmail, Geo Warfare & The End Game









Related Articles
Ireland has done what the IMF wanted, but where is the reward?


Latest News from our Front Page

Why Canít We Publish Addresses Of New York Times Reporters?
2014 11 28
New York Times reporters Julie Bosman and Campbell Robertson published the address of Darren Wilson in the New York Times so here are their addresses. GotNews.com strenuously objects to publishing the addresses of individuals who are being targeted with death threats. GotNews.com published the address of Ebola patient Nina Pham so that people could avoid going to her Dallas apartment. But it would ...
Terrorists? Interview with Varg Vikernes and Marie Cachet
2014 11 28
Marie Cachet and Varg Vikernes are what we call commonly ordinary people. However, for motives meanly political, the Ministry of the Interior decided to abuse its power to damage them ; "there is nothing more annoying than a low man placed in high position." (Roman saying) Today, Varg risks the eviction of the French territory without valid ground. Three very ...
The Coudenhove-Kalergi Plan - The Genocide Of The People Of Europe
2014 11 28
Mass immigration is a phenomenon, the causes of which are still cleverly concealed by the system, and the multicultural propaganda is trying to falsely portray it as inevitable. With this article we intend to prove once and for all, that this is not a spontaneous phenomenon. What they want to present as an inevitable outcome of modern life, is actually ...
Starbucks Supports Pro-GMO Company
2014 11 26
Another reason why you should not go to Starbucks. Starbucks has an image of being a socially responsible, environmentally friendly company (Really?). In 2013, 95 percent of their coffee was ethically sourced, and their goal is to reach 100 percent by 2015.1 Other goals include reducing water consumption by 25 percent in their company-operated stores by 20152 and mobilizing their employees and ...
Group Polarization and the Fad of Ethno-masochism
2014 11 26
From "Group polarization: A critical review and meta-analysis". Journal of Personality and Social Psychology. 6 50 (6): 1141--1151 The psychology of White self hatred. Political correctness IS a mental disorder. More: Group polarization: A critical review and meta-analysis. Isenberg, Daniel J. the paper Indoctrinate U Harvard Professor Noel Ignatiev talks about how to end the White race The History of Political Correctness The Narrative: The origins of Political ...
More News Ľ