How Iceland defeated the Anglo-American Bankster Mafia

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Posted on 28th November 2012 by Administrator in Economy |Politics |Social Issues

5 Comments

  1. Administrator says:

    How Iceland Restrained the Anglo-American Banks: CBC Interviews Ólafur Grimsson

    As you have read here and elsewhere, there is the ‘Japanese model’ and the ‘Swedish model’ for dealing with a crisis caused by asset bubbles and fraud from an oversized financial sector and an overly powerful segment of monied interests.

    It is obviously a simplification to slot such a policy issue into two models, but it has some philosophical validity with regard to the resolution of the bad debt that follows such a period of financial recklessness by the Banks.

    I should note that I have rarely if ever seen this sort of broader discussion of other policy alternatives in any mainstream US media, and certainly not during the presidential debates which tended to focus on soft issues, distractions, and style.

    The Swedish model favors the disposition of the debt failures on the banks, and their management and bond holders. The Japanese model seeks to sustain the financial status quo and their associated corporate cartels with public debt and social policy adjustments.

    Iceland has famously followed the ‘Swedish model.’ Perhaps so well it may better be called the ‘Iceland model.’

    If it is not apparent, what made the difference was the resolute manner in which the people of Iceland rejected the deal offered to them by the Banks and their politicians.

    Americans made some initial attempts to prevent such bailouts as in TARP, before their politicians caved in to the ‘bullet and the bribe.’ But lost their fervor in the co-opting of the Tea Party movement, and even turned against the Occupy Wall Street movement in the face of a determined media campaign to portray them as outsiders, cranks, and radicals.

    As a smaller nation with a stronger sense of community, the Icelanders receive more of their information from diverse and direct personal sources, rather than through interpretation and packaging of the news by a few large media outlets. They also seem less disposed to make a ‘war on the weak’ amongst their own people than the larger, more impersonalized nations with less homogenous populations.

    The US, the UK, and the rest of Europe are currently following the ‘Japanese model’ of pretend and extend, supporting those who benefited from the bubble, the wealthy elite, with sovereign debt and a policy of austerity for the public.

    The US and the UK seem likely to do so since they are the home ground of the banking cartel and the financial status quo, but the path that Europe is taking is a bit of a surprise considering they are supposed to be progressive and ‘socialists.’ It is no wonder that many of the key decision making slots are being ‘handled’ as they are by the monied interests, and their friends in big media are weaving a campaign of pride and nationalistic divisiveness to harness the darker side of human nature. It has worked before, at least twice in Germany during the last century, as you may recall.

    Neither approach is easy or perfect. But it does seem that one is more just and effective than the other.

    JESSE

    Like or Dislike: Thumb up 4 Thumb down 0

    28th November 2012 at 3:25 pm

  2. Eddie says:

    Anybody who lives that far North has got to be made of sturdy stock. People who know they have to get up and chop some wood or they’ll freeze to death.

    But why do they still debate joining the Eurozone ? I don’t get the attraction.

    Well-loved. Like or Dislike: Thumb up 7 Thumb down 0

    28th November 2012 at 3:32 pm

  3. AKAnon says:

    Olafur Ragnar Grimsson:

    A) Coming from Scandahoovian stock as I do, IMO, this is about the coolest name in history.
    B) Big Brass Balls. Sumbitch put it to the people, despite significant PTB threatening his country and him personally. And not bailing out private banks worked. Who’d a thunk?
    C) What an eloquent sonofabitch. Do you think he had a teleprompter? Ya think the “O” could have articulated his position as well? How ’bout Mittens?
    D) Putting his nation, his people and his duty first-what a concept. If we ever waive the citizenship requirement for POTUS (maybe we already have?), I nominate Olafur. Now that RP is retiring.

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    28th November 2012 at 12:05 am

  4. BRAVE, OR DUMB, ICELAND? « DUCKPOND says:

    [...] How Iceland defeated the Anglo-American Bankster Mafia (theburningplatform.com) [...]

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    28th November 2012 at 9:27 am

  5. Iceland shows the way: reject austerity – Nadia | says:

    [...] How Iceland defeated the Anglo-American Bankster Mafia [...]

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    28th November 2012 at 9:12 am

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