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U.S. Constitution
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Title: Iceland- How The People Defeated The E.U. And Bankers
Source: beforeitsnews
URL Source: http://beforeitsnews.com/story/2118 ... ated_The_E.U._And_Bankers.html
Published: May 9, 2012
Author: Katrina Kiki Day
Post Date: 2012-05-12 10:27:20 by whyofcourse
Keywords: None
Views: 5554
Comments: 20

ICELAND. No news from Iceland?… why? How come we hear everything that happens in Egypt but no news about what’s happening in Iceland: … In Iceland, the people has made the government resign, the primary banks have been nationalized, it was decided to not 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 in a peaceful way. A whole revolution against the powers that have created the current global 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

2008. The citizens protest in front of parliament and manage to get new elections that make the resignation of the prime minister and his whole government. The country is in bad economic situation. A law proposes paying back the debt to Great Britain and Holland through the payment of 3,500 million euros, which will be paid by the people of Iceland monthly during the next 15 years, with a 5.5% interest.

2010. The people go out in the streets and demand a referendum. In January 2010 the president denies the approval and announces a popular meeting. In March the referendum and the denial of payment is voted in by 93%. Meanwhile the government has initiated an investigation to bring to justice those responsible for the crisis, and many high level executives and bankers are arrested. The Interpol dictates an order that make all the implicated parties leave the country.

In this crisis an assembly is elected to rewrite a new Constitution which can include the lessons learned from this, and which will substitute the current one (a copy of the Danish Constitution). 25 citizens are chosen, with no political affiliation, out of the 522 candidates. For candidacy all that was needed was to be an adult and have the support of 30 people. The constitutional assembly starts in February of 2011 to present the ‘carta magna’ from the recommendations given by the different assemblies happening throughout the country. It must be approved by the current Parliament and by the one constituted through the next legislative electio

So in summary of the Icelandic revolution:

-resignation of the whole government
-nationalization of the bank.
-referendum so that the people can decide over the economic decisions.
-incarcerating the responsible parties
-rewriting of the constitution by its people
 
Have we been informed of this through the media?
Has any political program in radio or TV commented on this?
No! The Icelandic people have been able to show that there is a way to beat the system and has given a democracy lesson to the world.......................... SOURCE Katrina Kiki Day 

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Begin Trace Mode for Comment # 20.

#1. To: whyofcourse (#0)

-nationalization of the bank.

Isn't that communist or something?

lucysmom  posted on  2012-05-12   10:39:59 ET  Reply   Untrace   Trace   Private Reply  


#4. To: lucysmom (#1)

-nationalization of the bank.

Isn't that communist or something?

See October 2008 USSA bailout of banks for details.

The banks are insolvent. And 'fraud' is the word in use until 'nationalization' becomes official.

Watch Wells Fargo now for details.

Know anyone from Lehman indicted prosecuted? LMFAO

Wells Fargo is the Last Man Standing in the Commercial Mortgage Market.

Jamie Dimon with $90 Trillion debt derivatives on his books. The World GDP is less than that.

He is still arguing that he needs less regulation.

mcgowanjm  posted on  2012-05-12   11:11:32 ET  Reply   Untrace   Trace   Private Reply  


#7. To: mcgowanjm (#4)

He is still arguing that he needs less regulation.

Well, you know, it's big government that creates crime, and crime requires investigations and that requires investigators, it's all a plot to grow government and raise taxes.

lucysmom  posted on  2012-05-12   11:32:24 ET  Reply   Untrace   Trace   Private Reply  


#14. To: lucysmom (#7)

it's all a plot to grow government and raise taxes.

IT takes alot of energy to protect a lie....;}

mcgowanjm  posted on  2012-05-13   8:52:31 ET  Reply   Untrace   Trace   Private Reply  


#15. To: mcgowanjm (#14)

IT takes alot of energy to protect a lie....;}

Big lies require little protection.

lucysmom  posted on  2012-05-13   9:11:24 ET  Reply   Untrace   Trace   Private Reply  


#16. To: lucysmom (#15) (Edited)

Big lies require little protection.

Big Lies require the most protection.

Truth has arrived. Falsehood perishes. For falsehood is by nature bound to perish.

Like ,keeping nuclear power alive. It takes ever more energy.

Ex:

"As more money is available, prices rise. More investors are drawn in, and expectations for quick profits rise. The bubble expands, and then bursts. In other words, fuelled by initially well-founded economic fundamentals, investors develop a self-fulfilling enthusiasm by an imitative process or crowd behaviour that leads to the building of castles in the air, to paraphrase Malkiel (1990). Furthermore, the causes of the crashes on the US markets in 1929, 1987, 1998 and in 2000 (2007 and now with JPM 2012;) belongs to the same category, the difference being mainly in which sector the bubble was created: "

mcgowanjm  posted on  2012-05-13   9:21:40 ET  Reply   Untrace   Trace   Private Reply  


#17. To: lucysmom, All (#16)

Think of a ruler held up vertically on your finger: this very unstable position will lead eventually to its collapse, as a result of a small (or absence of adequate) motion of your hand or due to any tiny whiff of air. The collapse is fundamentally due to the unstable position; the instantaneous cause of the collapse is secondary. In the same vein, the growth of the sensitivity and the growing instability of the market close to such a critical point might explain why attempts to unravel the local origin of the crash have been so diverse. Essentially, anything would work once the system is ripe.

Replace 'ruler' with 'Big Lie'....;}

mcgowanjm  posted on  2012-05-13   9:29:45 ET  Reply   Untrace   Trace   Private Reply  


#18. To: All (#17)

The State and JPM and Jamie Dimon would spend untold energies to keep this heretical POV out of the mainstream:

"In this view, a crash has fundamentally an endogenous or internal origin and exogenous or external shocks only serve as triggering factors.

As a consequence, the origin of crashes is much more subtle than often thought, as it is constructed progressively by the market as a whole, as a self-organizing process. In this sense, the true cause of a crash could be termed a systemic instability. This leads to the possibility that the market anticipates the crash in a subtle self-organized and cooperative fashion, hence releasing precursory "fingerprints" observable in the stock market prices (Sornette and Johansen, 2001; Sornette, 2003).

These "fingerprints" have been modelled by "log-periodic power laws" (LPPL), which are beautiful mathematical patterns associated with the mathematical generalization of the notion of fractals to complex imaginary dimensions (Sornette, 1998).

Much like the pope publicly castigating Galileo....;}

mcgowanjm  posted on  2012-05-13   9:33:10 ET  Reply   Untrace   Trace   Private Reply  


#19. To: All (#18)

It appears that financial institutions earn money on transactions (say fees on your mother-in-law’s checking account) and lose everything taking risks they don’t understand. -Talib black Swans

"Stock market crashes are often unforeseen by most people, especially economists. One reason why predicting complex systems is difficult is that we have to look at the forest rather than the trees, and almost nobody does that. Our approach tries to avoid that trap. From the tulip mania, where tulips worth tens of thousands of dollars in present U.S. dollars became worthless a few months later, to the U.S. bubble in 2000, the same patterns occur over the centuries.

Today we have electronic commerce, but fear and greed remain the same. Humans remain endowed with basically the same qualities today as they were in the 17th century. In summary, bubbles and crashes are ubiquitous to human activity: we as humans are rarely satisfied with the Status Quo;

we tend to be over-optimistic with respect to future prospects and, as social animals, we herd to find comfort in being (right or wrong) with the crowd. This leads to human activities being punctuated by bubbles and their corrections. "

mcgowanjm  posted on  2012-05-13   9:37:55 ET  Reply   Untrace   Trace   Private Reply  


#20. To: All (#19) (Edited)

And this is not limited to banking—I generalize to an entire class of random variables that do not have the structure we thing(k) they have, in which we can be suckers.

And we are beyond suckers: not only, for socio-economic and other nonlinear, complicated variables, we are riding in a bus driven a blindfolded driver, but we refuse to acknowledge it in spite of the evidence, which to me is a pathological problem with academia.

mcgowanjm  posted on  2012-05-13   9:39:48 ET  Reply   Untrace   Trace   Private Reply  


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