IMF Declares Iceland Did Bank Bailouts The Right Way, By Punishing Bondholders

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Comments

[DailyBail]

Experts continue to praise Iceland’s recovery success after the country’s bank bailouts of 2008.

Unlike the US and several countries in the eurozone, Iceland allowed its banking system to fail in the global economic downturn and put the burden on the industry’s creditors rather than taxpayers.

In the following years, the Icelandic government made drastic cuts that reduced the fiscal deficit from 14 percent of GDP to just two percent. At the same time, unemployment in Iceland has shrunk to less than five percent, while analysts predict the North Atlantic economy to grow some 2.8 percent by the end of 2012, according to recent reports.

http://www.icenews.is/index.php/2012/08/22/icelands-recovery-continues-declared-impressive/#ixzz24roQgbHg

[DailyBail]

POLICE COMMISSIONER DEFENDS FORCE IN NYC SHOWDOWN

http://hosted.ap.org/dynamic/stories/U/US_EMPIRE_STATE_BUILDING_SHOOTING?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT

While eating a donut.

[DailyBail]

40 Items to Barter in a Post-Collapse World

http://www.activistpost.com/2012/08/40-items-to-barter-in-post-collapse.html

[DailyBail]

Peter Schiff - "It's not about what Government should do, but what it needs to undo!"

http://xrepublic.tv/node/124

[DailyBail]

Cop Charged In Death Of A Pedestrian During High Speed Police Pursuit

http://xrepublic.tv/node/127

[Ponce]

To the American people: The Improvement Tax, or house tax, that you pay every years is collected by the "Department Of The Interior" and is a tax that goes to he bankers of the IMF.....this tax you will be paying for ever.

The Property Tax ,or land tax, stays in your community and is different than the improvement tax........I am now teaching people how to get rid of this tax.

This is Ponce

[john]

Will this be the other Iceland?

http://www.reuters.com/article/2012/08/28/us-quebec-idUSBRE87R04H20120828

It might just be...

http://www.canlii.org/en/qc/laws/stat/rsq-c-i-14.01/latest/rsq-c-i-14.01.html

[john]

Could this be the next Iceland?

http://www.reuters.com/article/2012/08/28/us-quebec-idUSBRE87R04H20120828

Note: here are recent rules implemented regarding derivatives trading there...
http://www.canlii.org/en/qc/laws/stat/rsq-c-i-14.01/latest/rsq-c-i-14.01.html

[skinflint]

This article makes some salient points in regards removing the supply of money taken from the large banks to governments, but does go on to say that there are some inherent problems in governments where greed and avarice may play a part in fraud and corruption. Frankly I will not hold my breath in this regard as our system seems to be in the hands of groups of people who are hell bent on trashing the place. http://www.libertynewsonline.com/article_369_32689.php