JP via RSS
Debt Moratorium with 1%Tax? The Arctic Mouse that Roared
If the Anglo-Dutch were attempting to perform a proportional extraction on the United States, they would be demanding about $7 Trillion.
The British and Dutch are also determined to collect at least 5.5% compound interest, meaning Iceland’s obligation would grow over time, even if substantial payments were made.
If the politically desperate Brown and his Dutch retainer Balkenende get their way, Icesave will turn into Iceslave, a future of poverty, unemployment, depopulation, and national collapse for Iceland, which could never pay the sums being demanded.
The IMF has a long history of foreclosing on national economies by demanding austerity programs and usury that put hardship on the majority of the population, but not the oligopolists themselves who got the countries into the economic mess with too much debt, inflation and spending.
In a related development, Icelandic Health Minister Ogmundur Jonasson, a highly respected leader of the Left Green Party, resigned from the coalition government in protest against the economic policies being pursued.
Specifically, Ogmundur Jonasson stated in interviews he could not in good conscience support the Icesave sellout, as the prime minister was demanding.
Ogmundur Jonasson is widely regarded as a possible candidate for prime minister. His resignation is considered the de facto start of a government crisis likely to lead to the fall of the current coalition.
Birgitta Jónsdóttir’s The Movement faction is the product of a mass strike upsurge which gripped Iceland from October 2008 to January 2009. Iceland saw frequent large-scale demonstrations against the previous right-wing coalition government, which imposed the monetarist de-regulation of the Icelandic banking system, leading to the banking crisis of last autumn.
Similar happened in America under the Clinton and Bush administrations.
Birgitta Jónsdóttir and her associates were originally elected as part of a larger group called the Civic Movement, from which they split when the Civic Movement took a course of opportunism.
