ICELAND BANKERS



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 The 2008–2011 Icelandic financial crisis  
was a major economic and political crisis in Iceland that involved the collapse of all three of the country's major privately owned commercial banks, following their difficulties in refinancing their short-term debt and a run on deposits in the Netherlands and the United Kingdom. Relative to the size of its economy, Iceland’s systemic banking collapse is the largest suffered by any country in economic history
 In late September 2008
it was announced that the Glitnir bank would be nationalised. 
The following week on 7 October 2008, control of Landsbanki and Glitnir was handed over to receivers appointed by the Financial Supervisory Authority (FME). Two days later, the same organization placed Iceland's largest bank, Kaupthing, into receivership as well. Commenting on the need for emergency measures, Prime Minister Geir Haarde said on 6 October, "There [was] a very real danger... that the Icelandic economy, in the worst case, could be sucked with the banks into the whirlpool and the result could have been national bankruptcy."  
He also stated that the actions taken by the government had ensured that the Icelandic state would not actually go bankrupt. At the end of the second quarter 2008, Iceland's external debt was 9.553 trillion Icelandic krónur (€50 billion), more than 80% of which was held by the banking sector. 
This value compares with Iceland's 2007 gross domestic product of 1.293 trillion krónur (€8.5 billion). The assets of the three banks taken under the control of the FME totaled 14.437 trillion krónur at the end of the second quarter 2008, equal to more than 11 times of the Icelandic GDP, and hence there was no possibility for the Icelandic Central Bank to step in as a last lender of resort when they were hit by financial troubles and started to account asset losses. 
As part of the urgently passed emergency law on 6 October, the path forward for the receivership held banks was dictated to be a secretion of all domestic assets into new surviving public owned domestic versions of the banks, while leaving the foreign remainings of the banks into receivership and liquidation. This move worked as a protecting hand for the Icelandic economy, as it meant that the domestic residents would not suffer any losses from the systemic bank failure. 
Obviously the financial crisis however still had a serious negative impact on the Icelandic economy. The national currency fell sharply in value, foreign currency transactions were virtually suspended for weeks, and the market capitalisation of the Icelandic stock exchange fell by more than 90%. As a result of the crisis, Iceland underwent a severe economic recession; the nation's gross domestic product (GDP) dropped by 5.5% in real terms in the first six months of 2010. Outside Iceland, more than half a million depositors (far more than the entire population of Iceland) found their bank accounts frozen, as a result of the foreign branches of the 3 Icelandic banks were thrown into receivership; and a subsequent diplomatic dispute (known as the Icesave dispute) also evolved over repayment of deposit insurance between Iceland at one side versus United Kingdom and the Netherlands. 
The main counter measures to combat the crisis were:
  • Enforcement of strict Capital controls (incl. a temporary suspension of all official currency exchange) on 6 October 2008 - to help protect the ISK currency.
  • Activation on 17 November 2008 of a $5.1bn big sovereign bailout package (of which $2.1bn came from IMF and the remaining $3.0bn from a group of Nordic countries) - to help finance budget deficits and the creation of domestic banks.
  • Implementation of austerity measures as part of the needed fiscal consolidation.
  • Activation of "Minimum deposit guarantee repayment loans" (€1.2bn from Germany; while the €4.0bn of offered Icesave loans from UK and Netherlands never was accepted) - to help finance the minimum deposit repayment to foreign account holders having lost their savings due to the bankruptcy of the Icelandic banks.

The window with bailout support for the Icelandic state officially ended on 31 August 2011, without being extended with new extra loans or Precautionary Conditioned Credit Lines. As originally planned by IMF, Iceland instead managed indeed to regain a complete access to financial markets to cover its future funding needs, and in first half of 2012 started to repay some of the established bailout debt. 
As of January 2013, the enforced capital controls is however still needed to protect the currency, and although it is being recommended by IMF to be lifted (in order to pave the way for foreign investments entering into the Icelandic territory), they also preach it should not happen before the Balance of Payments is entirely stable and the central bank has succeeded to build up a substantial foreign capital reserve (or sterilized some excessive amounts of ISK in circulation)
In regards of repayment of minimum deposit guarantees, all these amounts have now also been repaid through the liquidation of assets by the receiverships for all three bankrupt banks; which was possible because the Icelandic law grant an exclusive first priority for repayment of these guarantees before the remaining priority claims and general claims from creditors are dealt with.  
A new era with positive GDP growth started in 2011, and has helped foster a gradually declining trend for the unemployment rate. The government budget deficit after being up at 10% of GDP in 2009 and 2010, has now also been brought back to a more acceptable level at 3.4% of GDP in 2012; which along the way created the basis for the debt-to-GDP ratio to decline from its maximum at 101% in 2011 to 97% in 2012. The remaining challenges for the economy as of January 2013, is to lower its relatively high level of HICP inflation rate (which increased to 6.0% in 2012), and to lower the depreciation pressures against its national currency. 
The Icelandic Financial Crisis is commonly referred to have officially ended 31 August 2011, which was the day where the international bailout support programme led by IMF officially ended. It should however be noted, that the capital controls still need first to be lifted, before it can be claimed that Iceland in entirety has succeeded to overcome its crisis. MORE : HERE .
“Nationalizing The Banking System”

This is a re-upload from The Young Turks… I posted this video to prove that there is a solution to this problem other then the one that the people in power have provided. I agree with 99% of this video. The 1% I don’t is “Nationalizing The Banking System”. Just break up the banking system into smaller banks. So, we don’t have too big to fail. | HERE
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20 January 2011. 


Iceland’s special prosecutor into the banking crisis has confirmed that raids have taken place today and that arrests have been made. 
The Central Bank of Iceland is among the institutions under investigation. 
  • Special Prosecutor, Olafur Thor Hauksson told Visir.is that house searches are taking place in at least three places today as part of investigations into the central bank, MP Bank and Straumur Bank. 
  • Stefan Johann Stefansson at the central bank confirmed that agents were in the building conducting searches; and it has also been confirmed that searches are underway at MP Bank and ALMC (formerly Straumur). 
  • An ALMC spokesman said that the premises are indeed being searched and that the bank’s staff members are doing their best to help. 
  • In other news, four people have so far been arrested today in connection with the special prosecutor’s investigation into Landsbanki. 
  • One of the arrested parties is Jon Thorsteinn Oddleifsson, former Landsbanki treasury boss; and it is not yet known who the other three are. 
  • According to Visir.is sources, the arrests concern a brand new section of the wider case against the bank and are not directly connected to searches and arrests made last week.
People like to rely on precedents before doing things, and this my friends is a precedent – sure, Iceland is tiny, but it’s also the nation that forgave all mortgage debt, no longer suffers from EU debt slavery, is doing fine economically and is now arresting its bankers
Those waiting to cuff our bankers are waiting for situations like this, so they can argue them to move to action. 
Thus far, the precedent in the majority of the Rothschild/Rockefeller run banking/military industrial complex is to let the criminals get rich, get high positions and then get richer. 
This has been the way for quite some time, so it’s not easy to turn about face and expect everything to just collapse immediately. 
We’ll see if this encourages broader action elsewhere, but nonetheless, congratulations to Iceland, what you’ve done is marvelous. 
Don’t Ignore the Little Guy: Iceland Arrests its Bankers HERE

I hope this will make you “Think” about the Banks and how they use them for control. Debt Is 
Control… Remember, “A Fire Starts With A Spark”. 
Thank you for some truth about the Banking Cabal… 
How we fix our problem is up to us.

In 2008, Iceland didn’t bail out the banksters they Arrested them. Now there economy is growing faster then the EU’s. More arrests were made today. Google: “Iceland arrests bankers” and learn about this. 
13.6.2012 
Unemployment Falls Well Below European Average 
Words by Paul Fontaine 
  1. Iceland's unemployment rate is now far under the current European average, and is also well below America's jobless rate.
  2. RÚV reports that Iceland's national unemployment rate for May was 5.6%, down almost one percentage point from April. This is the lowest unemployment has been since December 2008.
  3. Demographically, the unemployment rate is 6.3% in the capital area and 4.5% in the countryside. 
  4. More precisely, unemployment remains greatest in Suðurnes, at 9.4%, and lowest in the northwest, at around 2%. 
  5. A third of the nation's unemployed are between the ages of 25 and 34.

More encouraging is the fact that Iceland's unemployment rate is well below the European average, which is currently 11%. It also happens to be under America's jobless rate, which is at about 8%. The Directorate of Labour predicts that Iceland's unemployment rate will continue to fall through June, to 4.6% to 5%. | HERE
  08/15/12 
Iceland Was Right, We Were Wrong: The IMF
By Jeff Nielson
VANCOUVER (Silver Gold Bull) -- 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 beenwrong 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. 
  • The bankers told us that no amount of suffering (for the Little People) was too great in order to make sure that the Bond Parasites got paid at 100 cents on the dollar. Iceland told the Bond Parasites they would get what was left over, after the people had been taken care of (by their own government). 
  • The bankers told us that our governments could no longer afford the same education, health care and pension systems which our parents had taken for granted. Iceland told the bankers that what the country could no longer afford was to continue to be blood-sucked by the worst financial criminals in the history of our species.

Now, after three-plus years of this absolute dichotomy in economic policymaking, a clear picture has emerged (despite the best efforts of the propaganda machine to hide the truth). 
In typical fashion, the moment that the Corporate Media is forced to admit that it has been serially misinforming us for the past several years; the Revisionists are immediately deployed to rewrite history, as shown in this Bloomberg Businessweek excerpt
...the island's approach to its rescue led to a "surprisingly" strong recovery, the International Monetary Fund's mission chief to the country said. 
In fact, from the moment the Crash of '08 was orchestrated and our morally bankrupt governments began executing the plans of the bankers, I have written that the only rational strategy was to put People before Parasites. 
While I wouldn't expect national policymakers to take their cues from my writing, when I wrote out my economic prescriptions for our economies I didn't base my views on compassion, or simply "doing the right thing." 
Rather, I have consistently argued that it was a matter of simple arithmetic and the most-elementary principles of economics that "the Iceland approach" was the only strategy which could possibly succeed. 
When Plutarch wrote 2,000 years ago "an imbalance between rich and poor is the oldest and most fatal ailment of all Republics," he was not parroting socialist dogma (1,500 years before the birth of Socialism). 
Plutarch was simply expressing the First Principle of economics; something on which all of the modern capitalist economists who followed in his footsteps have based their own theories. 
When modern economists produce their own jargon, such as the Marginal Propensity to Consume; it is squarely based on the wisdom of Plutarch: that an economy will always be healthier with its wealth in the hands of the poor and the Middle Class instead of being hoarded by rich misers (and gamblers). 
So when the Bloomberg Revisionists attempt to convince us that Iceland's strong (and real) economic recovery was a "surprise"; this could only be true if none of our governments, none of the bankers and none of the media's precious "experts" understood the most-elementary principles of arithmetic and economics. 
Is this the message the media wants to convey? 
What is even more disingenuous here is the congratulatory tone in this exercise in Revisionism, since nothing could be further from the truth. As I detailed in a four-part series one year ago, the campaign of "economic rape" perpetrated against the governments of Europe over the past two and half years (in particular) has been expressly designed to take away "the Iceland option" for Europe's other governments. 
One of the reasons for Iceland being able to escape the choke-hold of the Western banking cabal is that its economy (and its people) still retained enough residual prosperity to tough it out -- as the banking cabal tried to strangle Iceland's economy as retribution for rejecting their Debt Slavery. 
Thus, austerity has been nothing less than a deliberate campaign to destroy these European economies so that the Slaves would be too economically weak to be able to sever their own choke-holds. Mission accomplished! 
One can only assume that neither the Corporate Media nor their Banker Masters would have allowed this clear acknowledgment that Iceland was right and we were wrong to appear within its own pages, unless it felt secure in the knowledge that all the remaining Debt Slaves had been crippled beyond their capacity to ever escape this economic oppression. 
Indeed, for evidence of this we need only look to Greecethe one other European nation where there had been "rumblings" (i.e. riots) aimed at toppling the Traitor Government that served the banking cabal. 
After two elections, the combination of fear and propaganda bullied the long-suffering Greek people into choosing another Traitor Government -- which had expressly pledged itself to reinforcing the bonds of economic slavery. 
When the Slaves vote for slavery, the Slave Masters can afford to gloat. 
Here, the purpose of this Bloomberg propaganda was not to praise Iceland's government (when both the bankers and Corporate Media despise Iceland with all of their considerable malice)
Rather, the goal of this disinformation was to manufacture a new Big Lie. 
  • Instead of the Truth: that from Day 1 Iceland's approach was the only possible strategy which could have succeeded, while our own governments chose a strategy intended to fail; we get the Big Lie. 
  • Our Traitor Governments were acting honestly and honourably; and Iceland's success and our failure was yet another "surprise which no one could have predicted." 
We saw precisely the same Revisionism following the Crash of '08 itself, where the mainstream media trotted out all their expert-shills to tell us they had been "surprised" by this economic event; while those within the precious metals sector had been predicting precisely such a cataclysm, in ever more-assertive terms, for several years. 
The real message here for readers is that when an economic strategy of People before Parasites succeeds that there is nothing the least-bit "surprising" about this. As with all the remainder of the world around us, promoting the health of Parasites is only good for the Parasites themselves. 
To order reprints of this article, click here: Reprints | HERE
June 21, 2012  
Don’t Ignore the Little Guy: Iceland Arrests its Bankers
 by TheAdvocate 
Iceland’s special prosecutor is probably having the most fun of his entire legal career, as he has confirmed that raids of various Icelandic banks as well as Iceland’s Central Bank took place today, WITH ARRESTS MADE
Wait, what? 
Prosecutor Olafur Thor Hauksson (epic name, btw) said that house searches are taking place in relation to their investigations of MP Bank Straumur Bank and Iceland’s central bank, with searches underway at the banks themselves. 
Bank Staff is doing their best to help the investigation, with four people arrested to the special prosecutor’s investigation. 
Who was nabbed? 
Among them is Jon Thorsteinn Oddliefsson, a Landsbanki treasury boss, with the other names not known as of this writing. What’s more important to note is that this is a part of a larger investigation against banks.

March 17, 2013 
Rothschild Bankers Are At It Again… This Time In Cyprus. | HERE  
3/22/2013 
 RON PAUL: Iceland Arrests Rothschild Bankers [VIDEO] | HERE

March, 28, 2013 

Iceland Indicts Bankers Over Financial Crisis
by Victoria Finkle


Public frustration has been mounting over the lack of high-profile criminal prosecutions in the wake of the financial crisis here in the U.S. But the same cannot be said abroad. 
Several news outlets reported that Iceland's special prosecutor, hired in 2009 to investigate suspicious activities at several major banks, indicted fifteen bankers — including two chief executives — earlier this month over illegal activity tied to the meltdown of the country's banking system in the fall of 2008. The bankers are accused of stock-price manipulation and securities fraud. 
"These are quite big cases by any measurement, they're my biggest cases so far," Olafur Thor Hauksson, the prosecutor, told the Wall Street Journal last Friday, adding that the charged could face up to six years in prison if convicted. 
Some blogs reacted to the news with the observation that Iceland's actions are in contrast to the lack of prosecutions in the U.S. 
"Irresponsible actions at many of our biggest banks wreaked similar havoc across our own banking system and economy," wrote John Grgurich on the Motley Fool website

"So why hasn't the U.S. seen any of its bank CEOs, let alone any of its politicians, go on trial for similar charges?" 
The names of the Iceland bankers were not revealed at the time, except for Sigurjon Arnason, CEO of Landsbanki, and Hreidar Mar Sigurdsson, CEO of Kaupthing
Both banks failed during the crisis, amidst the country's historic economic collapse. 
The bankers are charged with hatching a plan to buy bank shares in order to keep the share prices from falling, and then sell the stock, according to the Journal. 
"All in all we now have 17 or 18 court cases relating to the bank collapse, and many haven't been tried yet, so it's not over yet," Hauksson told the Journal.



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About Octa Dandy Saiyar

Kelahiran Jakarta keturunan asli Bukittinggi, Sumatera Barat .
07 Oktober 1983.



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