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?
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The findings were made after the ...
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The group claiming responsibility, known as “DotGovs,” first alerted Infowars to the alleged ...
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Make sure to check out the videos below. The focus on the criticism descends into a Nazi accusation contest. "No no THEY are the REAL Nazi's."
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Sweden intends to expel up to 80,000 migrants who arrived in 2015 and whose application for asylum has been rejected, Interior Minister Anders Ygeman said Wednesday.
Ed: Wait, so they are in the country despite being rejected asylum? How did that happen and who let them in then?
"We are talking about 60,000 people but the number could climb to 80,000," the ...