IMF: Iceland Was Right, We Were Wrong
Aug. 15, 2012
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 Iceland's approach to economic triage was the correct approach right from the beginning.
What was Iceland's 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.
Asgeir Jónsson's book, Why Iceland?
, offers a detailed analysis of the financial crisis that tore apart the economy of his nation.
A Review of "Why Iceland?"
James Heiser | The New American
06 March 2011
2011: Icelandic President vetoes bank bailout
Iceland's President has vetoed a bill which would have loaded a crippling debt on his nation; the measure will now be voted on by the entire population.
2010: Icelanders Resist Bailout Scheme
Citizens in Iceland, seeing their economy collapse, are protesting a proposed bailout of Icesave, saying it was coerced by Gordon Brown's misuse of anti-terrorism laws. By James Heiser
2010: Icelanders Reject 'Debt Slavery'
Iceland's voters in a weekend referendum overwhelmingly rejected a plan to repay the British and Dutch governments billions in debts from a failed private bank, though they are, in essence, being bribed by the IMF to vote yes. by Alex Newman
2009: Learning From Iceland's Economic Meltdown
Iceland's economic meltdown, with skyrocketing unemployment, bankruptcies, political corruption and bank scandals, can teach Americans about the crises being unleashed on our own country. By James Heiser
2009: Iceland and the EU "Shakedown"
Iceland's economic and political crisis must be seen in the context of the agenda of the EU Internationalists. By James Heiser