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?
Your Smartphone Could be Tracking You Every 3 Minutes, Study Says 2015-04-01 2:24
Your apps want to know where you are
Smartphone apps regularly collect large amounts of data on usersâ€™ locations, sometimes as often as every three minutes, new research suggests.
Researchers at Carnegie Mellon University conducted a study where they asked 23 people to use their Android smartphones normally, and tracked location data requests from each device with specially designed software, the Wall ...
Facebook accused of tracking all users even if they delete accounts, ask never to be followed 2015-04-01 2:14
A new report claims that Facebook secretly installs tracking cookies on usersâ€™ computers, allowing them to follow users around the internet even after theyâ€™ve left the website, deleted their account and requested to be no longer followed.
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'Gay cake' bakery discriminated against client over sexual orientation, court told 2015-04-01 2:37
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What would the reactions be? One way tolerance?
Respecting peoples beliefs extends in all directions or in no direction.
Indiana Gov. Mike Pence (R) signed a religious liberties bill into law Thursday that has been ...
Daily Show's Trevor Noah under fire for Twitter jokes about Jews and women 2015-04-01 0:01
Trevor Noah â€“ the surprise choice to succeed Jon Stewart as high-profile host of satirical news program The Daily Show â€“ has come under fire for a series of controversial tweets he posted before his appointment.
The South African comedian â€“ son of a Swiss-German father and half-Jewish South African mother â€“ was criticised for having made tasteless jokes about Jews ...