Iceland’s Hörður Torfason – How to Beat the Banksters
2012 12 17

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

Norway Joins the Race to Develop Killer Robots
2014 10 24
Norway is a large exporter of weapons, which makes the resolution of the debate about creating killer robots an important issue for everyone.  One could debate the overall merits or failings of robotic systems, but an area that clearly has become a point for concern on all sides is the emergence of "killer robots." According to robotics pioneer, David Hanson, ...
Gene That Once Aided Survival in the Arctic Found to Have Negative Impact on Health Today
2014 10 23
In individuals living in the Arctic, researchers have discovered a gene variant that arose thousands of years ago and most likely provided an evolutionary advantage for processing high-fat diets or for surviving in a cold environment; however, the variant also seems to increase the risk of hypoglycemia, or low blood sugar, and infant mortality in today’s northern populations. {snip} “Our work ...
The Ebola hoax: questions, answers, and the false belief in the “One It”
2014 10 23
“The Reality Manufacturing Company doesn’t just sell ‘fake paintings’ that are easy to spot. No. They also sell images that are geared to mesh with people’s deeply held instincts and thereby produce rigid false beliefs. People are sure that if they gave up such beliefs, their world would fall apart and blow away in the wind.” ...
New Controversial Theory Suggests "Hobbits" Were Not Human - Who Were These Mysterious Beings?
2014 10 23
The origin of the Hobbit species remains a challenging subject to scientists. The Hobbit’s discovery confirmed the view that the Earth was once populated by many species of human, but new research the Hobbit’s were not human at all! So, who were these mysterious beings? Where did they come from? The idea that our species, Homo sapiens, was the only species of human on ...
Right into enemy hands? ISIS shows off new weapons allegedly airdropped by US (VIDEO)
2014 10 23
Islamic State has published a new video in which a jihadist shows off brand-new American hardware, which was purportedly intended for the Kurds they are fighting in the Syrian border town of Kobani. The undated video, posted by the unofficial IS mouthpiece “a3maq news”, sees a jihadist showing several boxes of munitions with English-language markings, with a parachute spread out on ...
More News »