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
Ireland has done what the IMF wanted, but where is the reward?
Latest News from our Front Page
Nigel Farage (UKIP) Speech on the EU, UK & Mass Immigration
2014 03 08
UKIP Nigel Farage Spring Conference speech - 2014
Red Ice Radio:
Nigel Farage MEP - The State of the EU & The Undemocratic Treaty of Lisbon
Labour wins UK by-election as Ukip trumps Tories
The ruling coalition in the UK was dealt a blow in the latest by-election test, as the UK Independence party pushed the Conservatives and Liberal Democrats into third and fourth ...
Pentagon studying Putinís body language to predict his behavior
2014 03 07
The Pentagon has spent hundreds of thousands of dollars in recent years so that researchers can study the body movements of foreign leaders, including Russian President Vladimir Putin, in hopes of predicting future behavior.
An article published by USA Today reporter Ray Locker on Thursday and corroborated by documents discovered by RT provides rare insight into a scarcely-discussed military effort that ...
Pentagon Claims That Climate Change ĎEnables Terrorismí
2014 03 07
In itís latest Quadrennial Defense Review the Pentagon has said that climate change and íerraticí climate will cause increased terrorist activity.
The four yearly reports highlight threats that face civilization and this years homed in on climate change causing an increase in terrorism.
It also mentioned that rises in sea levels and other issues associated with a warming planet will lead ...
Scientists Control Tiny Mechanical Probes Inside Human Cells
2014 03 07
Nanotechnology doesnít get as much attention these days as genetic and stem cell approaches to medicine, but all three aim to target the causes of illness with greater precision and less collateral damage in the rest of the body than conventional approaches.
Nanotech breakthroughs have come more slowly than many had hoped, but a recent success shows progress toward the goal ...
Fukushima: The Ticking Nuclear Bomb. Over 800 Tons of Radioactive Material Pouring into Pacific Ocean
2014 03 07
First published by GR in October 2013
In August this column ran a piece claiming that the Pacific Ocean was being poisoned by radioactive material escaping from Fukushima, two years after the devastating tsunami and meltdown at the Japanese nuclear facility. Three months later, shocking evidence points towards a calamity situation.
Silence from the corporate media.
There is growing evidence coming from ...
|More News Ľ |