Iceland Was Right, We Were Wrong: The IMF
2012-08-24 0:00

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

Europe 2020
2015-05-27 4:13
YouTube Description: Europe is changing and not for the better. We can change this if we act now. Source: The European Guardian
Rome's Arch of Titus Now Represents a Jewish Triumph
2015-05-27 2:48
Though not on a par with the universally recognizable Colosseum, the Arch of Titus remains one of the most iconic relics from Rome's ancient imperial glory days. The grand arch is located just south-east of the Roman Forum (main center of ancient Rome). It was opened in 82 AD by the Roman Emperor Domitian, shortly after the death of ...
IQ, Psy Ops and the "Civilization" of the Scam
2015-05-27 2:27
Cognitive dissonance is the firewall that exists in most minds when confronted with a challenge to their basic beliefs about the world. As it is human nature to avoid admitting being in error or having been duped, for most humans the ego zealously flees the admission to oneself of significant error.Challenges to our worldviews or paradigms of belief are also ...
"Europe Could be Overrun with White South Africans"
2015-05-26 23:05
Edited by Red Ice Dear Madam Merkel: We want our brothers and sisters to come home! Hundreds of thousands of sub-Saharan Africans are pouring into Europe, stressing the economy and social services, causing insane rates of crime and threatening to crush society in its entirety. Arab Moslems also continue to pour in under the guise of "asylum‚ÄĚ and are continuing to threaten ...
Increasing Cosmic Rays
2015-05-26 23:35
Driving Force in Climate Changes, Volcanos and Earthquakes Back in 1996 Danish physicists suggested that cosmic rays, energetic particles from space, are important in the formation of clouds. Since then, experiments in Copenhagen and elsewhere have demonstrated that cosmic rays actually help small clusters of molecules to form. By firing a particle beam into a cloud chamber, physicists in Denmark and ...
More News »