Iceland Jails Bankers, Erases Citizens’ Debt, Recovers STRONG !!

[Tiso0770]

Iceland Jails Bankers, Erases Citizens’ Debt, Recovers Strongly

For all of you who are pessimistic about the chances of real government reform, take a look at what the great citizens of Iceland have managed to accomplish.

In Iceland, the people have made the government resign, the primary banks have been nationalized and it was decided not to pay the debt that these created with Great Britain and Holland due to their bad financial politics, and a public assembly has been created to rewrite the constitution.

And all of this has been done in a peaceful way. A whole revolution against the powers that have created the current crisis.

This is why there hasn’t been any publicity during the last two years: What would happen if the rest of the EU citizens took this as an example? What would happen if the US citizens took this as an example?

This is a summary of the facts:

2008. The main bank of the country is nationalized. The Krona, the currency of Iceland devaluates and the stock market stops. The country is in bankruptcy

#####

Iceland Forgives Mortgage Debt for the Population

Posted by JacobSloan on July 19, 2012

Seriously, the most advanced place on Earth. Bloomberg writes:

Icelanders who pelted parliament with rocks in 2009 demanding their leaders and bankers answer for the country’s economic and financial collapse are reaping the benefits of their anger.

Since the end of 2008, the island’s banks have forgiven loans equivalent to 13 percent of gross domestic product, easing the debt burdens of more than a quarter of the population.

The island’s steps to resurrect itself since 2008, when its banks defaulted on $85 billion, are proving effective. Iceland’s economy will this year outgrow the euro area and the developed world on average, the Organization for Economic Cooperation and Development estimates.

read more....

http://2012patriot.wordpress.com/201...-population-2/

[GeorgiaAvenger]

What did laws did the "bankers" in the U.S. break?

[alucard13mmfmj]

What did laws did the "bankers" in the U.S. break?

US bankers were smart. they rewrote the law so they'd be safe.

[Uncle Emanuel Watkins]

US bankers were smart. they rewrote the law so they'd be safe.

But the bankers didn't write the lie that, while they are an integral part of the free enterprise system, they aren't part of the government. No, we are the ones who accept that fairy tale. Watkinsian Socialism! That is the American solution to this hideous problem!

[seraphson]

US bankers were smart. they rewrote the law so they'd be safe.

It's been quoted many times but bears repeating.

"Permit me to issue and control the money of a nation, and I care not who makes its laws."- Mayer Amschel Rothschild, International Banker

[dannno]

What did laws did the "bankers" in the U.S. break?

Stealing is stealing whether it is legal or not.

[Uncle Emanuel Watkins]

Stealing is stealing whether it is legal or not.

Jesus blessed the law against His Will as the very institution of it had led to horrible persecution towards his mother as an adulterer. So, as us shallow Christians might view it, stealing was indeed blessed as something officially sanctioned by the Lord. This put the slaves, those who would become the future Christians, at a disadvantage to the Jews, those who established the ten commandments beforehand and those Jesus blessed by fulfilling the prophecies.
He then turned his attention to the slaves with a secret giving to them "a New Covenant" of Love thy neighbor as thyself bettering the situation for them by narrowing the ten commandments to one.

[GeorgiaAvenger]

Stealing is stealing whether it is legal or not.

Well, we cannot jail generic bankers. We must preserve the rule of law.

[Uncle Emanuel Watkins]

Well, we cannot jail generic bankers. We must preserve the rule of law.

And just why exactly do you consider yourself as a member of the people who is against tyranny?

[GeorgiaAvenger]

And just why exactly do you consider yourself as a member of the people who is against tyranny?

Well, without the rule of law there is tyranny.

[LibertyEagle]

Stealing is stealing whether it is legal or not.

Your local bank did not steal from the homeowner. The homeowner sought them out for a loan and willingly signed a contract. The deal was struck and because of the loan they had received, they chose to buy a house.

Your local bank did not cause the housing boom and bust cycle.

Borrowers should honor their contracts. There is no free lunch, even if people want it REALLY badly.

[Yieu]

Your local bank did not steal from the homeowner. The homeowner sought them out for a loan and willingly signed a contract. The deal was struck and because of the loan they had received, they chose to buy a house.

Your local bank did not cause the housing boom and bust cycle.

Borrowers should honor their contracts. There is no free lunch, even if people want it REALLY badly.

Yes indeed, and all this really does is reward bad choices by giving away free houses to people who couldn't afford them, while people who knew they couldn't afford one get no free houses because they had been renting. It would create a new upper class of people with free houses, living the high life off the banks and the people who didn't tank out loans, while the renters would carry an additional burden and their rent may even raise to compensate for the poor housing market that would result and the subsequent rush to renting due to housing prices being unstable that would happen due to all the people that weren't handed a free house by the government. I am certainly not saying that even more people than proposed should get free houses. I am proposing no free houses, you get something if you buy it.

[RickyJ]

Your local bank did not steal from the homeowner. The homeowner sought them out for a loan and willingly signed a contract. The deal was struck and because of the loan they had received, they chose to buy a house.

Your local bank did not cause the housing boom and bust cycle.

Borrowers should honor their contracts. There is no free lunch, even if people want it REALLY badly.

Of course there is no free lunch, but no one in their right mind is going to turn down super low interest rates even below inflation and 60 year mortgages to buy a house. Nope, smart thinking people will jump on that. The banks knew they would, they knew the situation it would produce, they knew they would never recover their money created out of think air and didn't care, they wanted their land and assets on their balance sheets.

[Yieu]

Of course there is no free lunch, but no one in their right mind is going to turn down super low interest rates even below inflation and 60 year mortgages to buy a house. Nope, smart thinking people will jump on that.

It sounded like a pretty bad deal to me, taking on such a large loan without putting much down. It looks like a huge market risk to me. And the rates were not fixed, and that was known. It seems like a bad choice to me so I didn't go forward with that.

[LibertyEagle]

Of course there is no free lunch, but no one in their right mind is going to turn down super low interest rates even below inflation and 60 year mortgages to buy a house. Nope, smart thinking people will jump on that. The banks knew they would, they knew the situation it would produce, they knew they would never recover their money created out of think air and didn't care, they wanted their land and assets on their balance sheets.

Actually, if they were in their right mind, they would have known that it was a huge bubble getting ready to burst and wouldn't have bought something they couldn't afford to pay for, if and when the bubble burst.

If they did, they CHOSE to sign the contract. No one forced them and they should honor that contract. Local bankers did not create the bubble. They were providing a service that you paid them to provide.

smart thinking people will jump on that

How "smart thinking" were the people whose houses are now under water, eh?

[MJU1983]

Your local bank did not steal from the homeowner. The homeowner sought them out for a loan and willingly signed a contract. The deal was struck and because of the loan they had received, they chose to buy a house.

Your local bank did not cause the housing boom and bust cycle.

Borrowers should honor their contracts. There is no free lunch, even if people want it REALLY badly.

Moral Hazard. Malinvestment.

The banks didn't care if the homeowners paid them back, they had guarantees from Fannie/Freddie, Treasury, Congress, The Fed, and President.

Perhaps the best speech on the housing bubble if you haven't seen it:

[jmdrake]

Your local bank did not steal from the homeowner. The homeowner sought them out for a loan and willingly signed a contract. The deal was struck and because of the loan they had received, they chose to buy a house.

Your local bank did not cause the housing boom and bust cycle.

Borrowers should honor their contracts. There is no free lunch, even if people want it REALLY badly.

Actually in some cases the homeowners were sought out. My mother is in real estate. She told me of one real estate broker that talked about how he convinced an elderly lady who was comfortably renting to go in debt to buy a house. He had to prod her into it. Oh sure, she "willingly" signed the contract, the same way someone "willingly" buys crack...at least the first time. But it's not fair to say that all homeowners just forced themselves on the banks. Also the meltdown wasn't caused simply by homeowners. There's the whole derivatives scheme. http://seekingalpha.com/article/1981...nancial-crisis

Edit: And once you understand derivatives (and I admit I only partially understand them) you can see why predatory lending was a necessity for the shell game the international banksters were playing. Derivatives (as I understand them) are "bets" as to whether or not an actual security is valuable. Remember the 9/11 airline "put" options? Same thing here. In order to place a 'bet" on whether or not someone will default on his mortgage, you have to have someone at risk for defaulting on his mortgage.

[seraphson]

Actually in some cases the homeowners were sought out. My mother is in real estate. She told me of one real estate broker that talked about how he convinced an elderly lady who was comfortably renting to go in debt to buy a house. He had to prod her into it. Oh sure, she "willingly" signed the contract, the same way someone "willingly" buys crack...at least the first time. But it's not fair to say that all homeowners just forced themselves on the banks. Also the meltdown wasn't caused simply by homeowners. There's the whole derivatives scheme. http://seekingalpha.com/article/1981...nancial-crisis

Edit: And once you understand derivatives (and I admit I only partially understand them) you can see why predatory lending was a necessity for the shell game the international banksters were playing. Derivatives (as I understand them) are "bets" as to whether or not an actual security is valuable. Remember the 9/11 airline "put" options? Same thing here. In order to place a 'bet" on whether or not someone will default on his mortgage, you have to have someone at risk for defaulting on his mortgage.

And that right there is one of wicked functions of our debt-based, central bank controlled monetary system. It's actually designed so that no matter what someone will default. Money as Debt explained this pretty well and I thought it was a very enlightening learning experience. Theoretically if given sufficient time the banks would eventually own everything. Of course in reality the system will bust far before that occurs.

[RickyJ]

Stealing is stealing whether it is legal or not.

It isn't legal according to the Constitution so they can still be arrested by those upholding the Constitution.

[RickyJ]

What did laws did the "bankers" in the U.S. break?

Are you serious?

It would be easier to ask what laws they didn't break!

Counterfeiting money is a federal crime. The Federal Reserve has counterfeited at least a hundred trillion dollars since 1913.

[MJU1983]

What did laws did the "bankers" in the U.S. break?

Article One of the United States Constitution, Section 8: Powers of Congress:

To provide for the Punishment of counterfeiting the Securities and current coin of the United States;

[anaconda]

What did laws did the "bankers" in the U.S. break?

Mortgage fraud up the yin yang. Document forgery up the yin yang.

[jkr]

I WOULD BUY ALL KINDS OF AWESOME STUFF AND GET MY HOME OFF THE GRID

oh well, i live in the land of the "free"

ha!

[Uncle Emanuel Watkins]

I WOULD BUY ALL KINDS OF AWESOME STUFF AND GET MY HOME OFF THE GRID

oh well, i live in the land of the "free"

ha!

When liberty becomes our quest, we fall short every time. As the law has led us to believing that we have to aim directly at the target, so we always miss the apple in the tree. However, when the goal we are aiming for is the blue sky of our Civil-Purpose, then emotional catch words like rights, liberty, and equality all become mere prerequisites.
Why can't people understand this enough to quit wasting their time and energy?

[Uncle Emanuel Watkins]

read more....

http://2012patriot.wordpress.com/201...-population-2/

The utilization of "Watkinsian Socialism" is a classic American solution as it works along the principle of checks and balances. As it breeds to extinction both the evils of capitalist banking and social communism, it also kills two birds with one stone.

Watkinsian Socialism -- Putting an end to capitalist banking and social communism by restricting the political spread of social communism to within the endeavor of capitalist banking solely. In this American solution, every employee in the banking industry, from top to bottom, should make the same exact wage with no bonuses, stock options, perks, or any benefits whatsoever.

[Elwar]

theft = the "unlawful" taking

legal taking is just as bad though

[Uncle Emanuel Watkins]

theft = the "unlawful" taking

legal taking is just as bad though

Not in the Jewish tradition. Look, the Jewish traditions were tribal. Why do we still incorporate the tradition of the Jewish Jubilee? Figure we aren't just beyond that as a nation! No! Even beyond that, we are supposed to be acting as a Democratic Republic of individual nation-states! The concept of a nation was created in ancient Greece in an attempt to help the disadvantaged people gain control over tyranny. Meanwhile, the concept of a tribe represents the old tyranny.

[GeorgiaAvenger]

My whole point is, are you advocating arresting random bankers? What are you arresting them for?

[Uncle Emanuel Watkins]

My whole point is, are you advocating arresting random bankers? What are you arresting them for?

But why ask that question when you aren't even being represented by any commercial media? We have become sovietized. Therefore, first, picket the police to regain the ground to express your right to peacefully assemble. Second, then picket the commercial media to regain the ground to express your right to a free press.

Then go fishing. Why waste time doing what isn't necessary?

[GeorgiaAvenger]

But why ask that question when you aren't even being represented by any commercial media? We have become sovietized. Therefore, first, picket the police to regain the ground to express your right to peacefully assemble. Second, then picket the commercial media to regain the ground to express your right to a free press.

Then go fishing. Why waste time doing what isn't necessary?

I have no clue what you are talking about.