Iceland Wipes Out Citizen´s Debt! Bankers On Trail!?

reply to post by VitriolAndAngst

In fact, everything that his been done since Jimmy Carter was in office that concerns economics and tax law -- just repeal every bit of it and all of a sudden, things will function for the working person again.

Starting with re-instating the usury laws, and firm regulation of the banks.

Fraud should be treated as a crime, and individuals should be able to file a complaint for fraud, and government should then investigate when there is probably cause, and file criminal charges, and arrest the perps. Forcing someone to hire a lawyer in order to get justice when fraudulent crimes are committed is not justice, it is a sham.

Originally posted by TheLegend
Iceland's population is 300,000 and their diversity is "93% Icelandic/white, 7% other (and probably also white)".

It's not very difficult to manage a stable economy or have the government do something like this, under those simple conditions.

I'm wondering when this will be mentioned on the news here, if at all.

What does the racial/ethnic composition of the population have to do with this economic issue?

Originally posted by JaneC
That is just sooo awesome!!

If only they would do that here in the UK too

Oh sure great idea.... Lets reduce the housing market to pennies... Thats right i want to have paid my mortgage 75% paying out more than £100k and to loose it all because my house is now worthless....

Great idea!.!

These "politicians" in "our" government include the likes of hundreds of former Goldman Sachs Employers over the years as just one example, that exist in order to write new (uhem) policies that benefit they and their cronies on Wall Street.

I won't even begin to go into the other firms on Wall Street, nor the lobbying or kick backs done.

The only downside to this story, is that these bankers are sill alive and have not met Justice Chinese style.

Originally posted by 3litechasr
I'm with Milky Way...this isn't a good thing.

Our politicians pushed the banks into making bad loans, no one person had a gun held to their head and was forced to sign a contract they could not meet. The onus is on the loan taker to make good on the note.

Why do so many people seem to think that they should get something for nothing?

Who other than Milky Way wants to loan me a few hundred dollars? I'm on hard times too, I've been un and under employed for 12 of the last 30 months. I never defaulted on anything though.

Just my half a dime...

I would like to also add "The Warning" and "Inside Job" to the list for those that have not seen it yet.

You can see The Warning online at

www.pbs.org...


One snip from The Warning.
In 1994 Brooksley Born tried to regulate derivatives because of the dangers she say in them, lets just say the Bankers told her and Larry Summers who is boss.

"I walk into Brooksley's office one day; the blood has drained from her face," says Michael Greenberger, a former top official at the CFTC who worked closely with Born. "She's hanging up the telephone; she says to me: 'That was [former Assistant Treasury Secretary] Larry Summers. He says, "You're going to cause the worst financial crisis since the end of World War II."... [He says he has] 13 bankers in his office who informed him of this. Stop, right away. No more.'"

Now can we please end the lie that there were some pressured innocent bankers by "politicians" to "help the people" when these Wall Street politicians and Banksters are in each others beds.

The people in our Government are all criminals and need to be brought up on charges for Financial Terrorism.

Originally posted by Patifier

You need to understand the scope of the 2008 financial crisis and derivatives and then you will see the crimes that were and are being committed.

Whatch this film, it even starts with Iceland case: vimeo.com...

Also, many have been tricked into signing their mortgages. They didn't read or understand the fine print.

Originally posted by Korg Trinity
Oh sure great idea.... Lets reduce the housing market to pennies... Thats right i want to have paid my mortgage 75% paying out more than £100k and to loose it all because my house is now worthless....

Great idea!.!

Something, meaning an object is only worth what someone is willing to pay for it, if chaos ensues then your property will be worthless anyhow.

Damned if you do and damned sure if you don't.

As awesome as that is, and as much as I support this, it is not really fair for the people who do not benefit. For example, people too poor to own or rent a house, people who already paid off their house, etc. So now you will have a group of people that feel left out of all the bonus money if you want to call it that. I only say that because that's the situation I am in here in the U.S. Hopefully though the same happens here!

reply to post by jacobe001

Our politicians pushed the banks into making bad loans,

Either people who made money off of these scams, or complete suckers could buy this load of bull.

no one person had a gun held to their head and was forced to sign a contract they could not meet. The onus is on the loan taker to make good on the note.

Since when does anyone need to hold a gun to your head to take large amounts of money? This is a moronic argument.

On top of that, the whole justification for capital investment make large amounts of money is that they are getting paid for taking risk.

The con was pulled when these crooks bundled bad loans and gave them good ratings. That is fraud, and people who choose to ignore this again, fall into the people who made money off of these scams, or complete suckers.

reply to post by poet1b


Maybe getting rid of the banks in Iceland is a good thing. No more loans for people who can't pay them back. People can start saving and pay cash for a house and car. Or should these be free to everyone but the evil bankers and evil politicians? That's it, nobody should have to work hard for anything. Luxury should be a civil right. Hear ye, hear ye, every man in Iceland shall be entitled to a mansion, a Ferrari, and a private jet. What is so wrong with that?

Look, the "Evil Bankers" did not make the laws, they only follow the laws. The laws are made by the corrupt and selfish politicians. The only ones to blame for corrupt politicians are the people they represent. A Government is a reflection of it's People. The ones to blame for the mess in Iceland are the citizens of Iceland. I'm sorry if the truth stings. America is no better, in fact, far worse off. The greatest lie you, as a citizen, have been told is that you are insignificant. Vote at the ballot, vote with your money. Be vigilant over your government and deny incompetence, ignorance, and corruption from your representatives.

I don't have much time to read so I'll just ask. Debt forgiveness meaning the entire debt just wiped out because the bankers may or may not be corrupt (I assume they are and generally think very poorly of them for the record). So what I don't understand is that if you get a loan (aka borrow money from someone) then are you not morally obligated at very least to pay back your debt? Why would they rid you of your obligation simply because the bankers were corrupt and did illegal things? One does not negate the other.

If I get a loan then I am obligated to pay it back, it seems wrong to think otherwise. What am I missing?

reply to post by Skepticalifragilistic

No more loans for people who can't pay them back.

Um yeah! Ya Think? And what would be the price of housing if this was true? Probably a whole lot less.

I guess you are happy with the whole cradle to grave debt situation, where the evil bankers get to take about 40% of everyone's income, simply because they get total control of the nations monetary supply?

How about people get to keep some of the wealth they gain, and should gain, for the work that they do? You got a problem with this? Don't you believe in the market system?

Look, the "Evil Bankers" did not make the laws, they only follow the laws.

WRONG! The bankers did not follow the law, they broke the law by fraudulently rating bad loans as good. Plenty of them are now being prosecuted for their crimes, although not nearly enough. Do a quick search and look it up.

Most of those corrupt politicians were put into office by the evil bankers, and people who bought into the whole con of the free market.

What is obvious is that rather then put the blame on the people who broke the laws and committed fraud, you prefer to blame everyone else. Clearly you don't believe in personal responsibility when it comes to bankers.

reply to post by MaMaa

One does not negate the other.

I disagree. By committing fraud, the bankers broke the contract, therefore the borrowers are no longer bound to the contract. Time to re-negotiate.

reply to post by poet1b


I do believe we should be entitled to the fruits of our labor. I do not believe in fiat currency and fractional reserve lending. I vote and invest accordingly. I do not believe a government should try and save people from themselves.

I do not take out loans. I do not bank with a large corporate bank. Most of my investments are in gold, silver, oil, lng and other tangible assets. I try to do as little business with a large corporation as possible. I vote with my money. I am upset with the way the system is too but I hit them where it hurts...my money.

I believe if you borrow money and agree to terms, you sign your name, you should honor your name and commitments. This protects others from losing the fruits of their labor. Other people should not lose out because people don't honor their debts.

Think about all those who have sent a lifetime paying their mortgage and now have a worthless house because everyone's house is essentially free now. All because people borrowed more than they can afford...bottom line.

There is only a few sources speaking of that debt forgiveness. Seems to be false..

Comment on youtube: "I am icelandic and live in Iceland and i want to tell everyone that this is not true , a certain type of loans and their terms was corrected through the justice system but the public is basicly still struggling with the money fascists and secret societys. But not for long
"

Born and raised Icelander still living in Iceland, and yes i can confirm that this is complete nonsense if you ask me. The news stations in Europe and couple of other media outlets have blown these stories out of proportions. A couple of bankers got fined and 1 or 2 got sentenced to jail. Other than that the same people are still running this place. Secret societies, corrupt bankers & politicians still run this place from A-Z.

reply to post by Skepticalifragilistic


Were it not for the Banker Politicians that serve in our government, and those on Wall Street, this country would not have half the problems it does.


If easy credit was not available for things like homes, college loans, medical expenses etc, the prices would have to drop astronomically in order to be inline with what people make today.


It is in the best interests of these Banksters for the population to continue to pay interests charges to them for everything. How else will they continue to enslave and make their millions, and inflate the price of everything?

reply to post by kn0wh0w


THIS IS WHATS GOING DOWN
lightworkers.org...

lightworkers.org...

www.youtube.com...

reply to post by jacobe001


I agree that the people of Iceland got the shaft. We are all getting the shaft and we will continue getting shafted until sound money returns.

Inflation is criminal. Who is really to blame?

Follow me on this, ask yourself if every citizen put as much time studying modern monetary policy as someone like Dr. Paul would we be in this mess? Would the "Federal Reserve Act" ever have made to the floor of the US Congress? While the cat is sleeping mice will play...do not fault the mice for being mice. We the People are the cats.

At least people know who Britney Spears was married to...

reply to post by Skepticalifragilistic

I believe if you borrow money and agree to terms, you sign your name, you should honor your name and commitments.

And the same should apply to those who lend the money, but they did not follow their commitments, or act honorably, and you seem unable to recognize or admit this.

Food for thought. I'm guessing the story is just propaganda--an actual event that has been heavily exaggerated.

I am icelandic and live in Iceland and i want to tell everyone that this is not true , a certain type of loans and their terms was corrected through the justice system but the public is basicly still struggling with the money fascists and secret societys. But not for long

I heard there are like 24 empty houses to every 1 homeless person. Even if that ratio is off by some, it's still a quite significant illustration of the convoluted priorities of our society. And we claim to be a "Christian" nation.

Born and raised Icelander still living in Iceland, and yes i can confirm that this is complete nonsense if you ask me. The news stations in Europe and couple of other media outlets have blown these stories out of proportions. A couple of bankers got fined and 1 or 2 got sentenced to jail. Other than that the same people are still running this place. Secret societies, corrupt bankers & politicians still run this place from A-Z.