93% Of Icelanders Reject "Icesave" Bill In Historic Referendum

[CrackSmokeRepublican]

93% Of Icelanders Reject "Icesave" Bill In Historic Referendum
(A good anti-Talmudic,  anti-Usurious gesture... finger up to the J-Tribers... from ancient Euro-stock.)

Another European country is about to be cut to junk by the rating agencies, after a whopping 93% of Iceland voters turned down the ironically named Icesave bill in a historic referendum, which would have saddled citizens with an additional $16k in debt to compensate the UK and Holland with a $5.3 billion note for the failure of Landsbanki. The vote failure, which has already prompted Fitch to downgrade the country to junk, and is now sure to see Moody's and S&P follow suit, has left many to believe that a government crisis is now imminent. Another implication is that an IMF-led loan is now in limbo, demonstrating that the international bailout watchdog is truly powerless when the people of the bailout recipient nation want to have nothing to do with the international rescue circuit.

What is amusing is that the disconnect between what governments think their people want and what people actually want has become unprecedented:

    The Icesave deal passed through parliament with a 33 to 30 vote majority. Grimsson blocked it after receiving a petition from a quarter of the population urging him to do so. The government has said it's determined any new deal must have broader political backing to avoid meeting a similar fate.

    Icelanders used the referendum to express their outrage at being asked to take on the obligations of bankers who allowed the island's financial system to create a debt burden more than 10 times the size of the economy.

    The nation's three biggest banks, which were placed under state control in October 2008, had enjoyed a decade of market freedoms following the government's privatizations through the end of the 1990s and the beginning of this decade.

    "This referendum is very peculiar and without any parallel in Iceland's history," said Gunnar Helgi Kristinsson, a professor of political science at the University of Iceland, in an interview.

And in Iceland, the people not only don't care about what the IMF or the UK think, but they are certainly making their opnioins against the executives of the failed bank felt, in a way that Americans only wish they could.

    "Ordinary people, farmers and fishermen, taxpayers, doctors, nurses, teachers, are being asked to shoulder through their taxes a burden that was created by irresponsible greedy bankers," said President Olafur R. Grimsson, whose rejection of the bill resulted in the plebiscite, in a Bloomberg Television interview on March 5.

     

    Protesters have gathered every week, with regular numbers swelling to about 2,000, according to police estimates. The last time the island saw demonstrations on a similar scale was before the government of former Prime Minister Geir Haarde was toppled.

    Icelanders have thrown red paint over house facades and cars of key employees at the failed banks, Kaupthing Bank hf, Landsbanki and Glitnir Bank hf, to vent their anger. The government has appointed a special commission to investigate financial malpractice and has identified more than 20 cases that will result in prosecution.

In the meantime, Iceland, which as recently as 2007 used to be one of the richest countries on a per capita basis, is seeing the net wealth of its citizens sublimate.

    The island's economy shrank an annual 9.1 percent in the fourth quarter of last year, the statistics office said on March 5, and contracted 6.5 percent in 2009 as a whole.

    Household debt with major credit institutions has doubled in the past five years and reached about 1.8 trillion kronur ($14 billion) in 2009, compared with the island's $12 billion gross domestic product, according to the central bank. Icelanders, the world's fifth-richest per capita as recently as 2007, ended 2009 18 percent poorer and will see their disposable incomes decline a further 10 percent this year, the central bank estimates.

    Grimsson, who has described his decision to put the depositor bill to a referendum as the "pinnacle of democracy," says he's not concerned about the economic fallout of his decision.

At this point we will take the opportunity to remind readers once again that the biggest fan of the Iceland experiment was none other than the worst and most full of methane Fed board member in the history of the US Central Bank, Fred "Iceman Napoleon" Mishkin, who not surprisingly has made cheerleader-central CNBC his newest media forum, as he conducts yet another monetary calamity lemming cascade off the cliffs, this time not of Reikjavic, but first of Dover, and then of D.C. (the analogy would be more appropriate if D.C. actually had any cliffs as opposed to 50% underwater housing, and an administration full of hyperinflated hot air).

http://www.zerohedge.com/article/93-ice ... referendum

[mgt23]

oooooooooooo this is big i wonder when war is coming then......

[CrackSmokeRepublican]

oooooooooooo this is big i wonder when war is coming then......

I don't know Mgt23, but it would be nice to see the Icelandic Airforce drop a couple of 1000s of pounds of "Blubber" on Wallstreet and Canary wharf and maybe the Caymans just as pro-European gesture to the idiot Talmudics.
 Fat, Idiot, Greedy Jews drowning in a "pool" of Whale blubber would make my day and be poetic justice in way... and then it would all rot... but to dream in a nightmare of idiot Jew'd Globalism...

[Rockclimber]

Damnnnnnnnnnn! I have always said no one will have to call for a revolution in these times, it will just become a natural reaction to the circumstances. These international bankers days are about numbered.

[CrackSmokeRepublican]

Damnnnnnnnnnn! I have always said no one will have to call for a revolution in these times, it will just become a natural reaction to the circumstances. These international bankers days are about numbered.

I can only hope that a Mass of Europeans and Americans march on GoldmanSachs with "Pitchforks" and heavy weapons... just as a show of force in Don't F*** WITH ME STUPID F'N Jews kind of way.... they won't pay attention otherwise.  Frankly, it has to be a life and death kind of threat with the JewTards before they comprehend the seriousness of crimes they have conducted by their idiot Talmudic B.S. ways.   You got to seriously scare the B.S. artists before they take you seriously in this Bankrupt Jew'd America (World).

If I was President, unlike the current Jew Puppet in office, I would threaten the J-F'ers with firebombing the Hamptons.  And they will put you up to it, so do or die,  just get the jets ready with Napalm to show the idiot Talmudics your no-nonsense ways. Just go "Cossack" on them.

[Anonymous]

CSR, yeah those "FEMA camps" and ID chips will come handy someday - soon! More humane that Sharia, to cut ones (thief) hand. Although not everyone is carrying the chip scanner, right? Hmmmm...?

[/tab]

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VIVA ISLAND !




















And the Banksters are next !







.
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[scorpio]

Cool pictures.
Looks like a country that hasn't been corrupted and taken over by the ziotribe.
Good for them!

[Tomas O'Crohan]

Why couldn't the Irish have voted down the globalist "jew world order" treaty by this percentage? Then all we'd have to do is identitfy the 7% supporting this monstrosity to know who are the ones causing all the trouble. Then all we'd have to do is call in the "nutting squad" on the 7 percenters. Then all we'd have to do is figure out how we wish to proceed now that we'd be enjoying a freedom that hasn't been known since the construction of Newgrange.

[mgt23]

enjoying a freedom that hasn't been known since the construction of Newgrange.

agreed

[CrackSmokeRepublican]

This site usually has decent analysis:
-------
07 March 2010
Iceland Voters Reject Bank Bailouts in Crushing Electoral Defeat; Neo-Liberalism In Context


    "Voters rejected the bill because ordinary people, farmers and fishermen, taxpayers, doctors, nurses, teachers, are being asked to shoulder through their taxes a burden that was created by irresponsible greedy bankers."


It is interesting that the government of Iceland had already declared the vote of the people as 'obsolete.' One has to wonder when the voters will declare their current government and their representatives as obsolete. One would give them credit for at least allowing a vote on a referendum.

Iceland is a victim of the neo-liberal economic deregulation of the 1990's, in which a few bankers can buy the government, and rack up enormous profits for themselves in Ponzi like leverage, and then attempt to socialize the debt back to the people when their schemes collapse.

Neo-Liberalism is a system of economic thought embracing the efficient markets hypothesis, the inherent good of deregulation and the natural impediment of government regulation, the necessity of free trade and globalization, the supremacy of the corporation over the individual person in the social economy, and supply side economics. It most likely favors a one world currency and consolidation of production into large corporate combinations or 'trusts' under the principle of laissez-faire.

Neo-liberalism may degenerate into crony capitalism, or even corporatism, as its theoretical idealism of perfect rationalism and virtue falters against the reality of human behaviour. In times of financial crisis, for example, neo-liberalism ironically turns to centralized economic planning by allegedly private banks which appropriate public funds and the power of the monetary license to socialize private debts, and, in a strikingly Orwellian twist, eviscerate the discipline of the markets and the individual to preserve their freedom, and the well being of the private corporations. Although now largely repudiated, neo-liberalism has strong roots in the public consciousness, and its adherents hold considerable power in Western governments and among the 'freshwater school' of American economics.

What makes neo-liberalism and neo-conservatism 'neo' or new is their attitude towards the relationship of the individual to the state. (This happens when Jews are running the show generally throughout history--CSR) Both tend to denigrate and diminish the condition and rights of the individual as compared to the consideration of the corporate system or the centralized command state.

In the States, the Congress and the President have just ignored the massive protests against their own bank bailouts. The US was able to cloak its own debt assumptions through accounting frauds, claiming that the bailouts were repaid by the banks. The bailouts are wrapped in AIG, Fannie and Freddie, and the Federal Reserve. This is the advantage of owning the currency, the IMF and ratings agencies. And of course your media.

Although Europeans and the markets are looking at the 'PIGS' for the next serious default as the economic hitmen are moving from Iceland to Greece, the real test of globalization in financial markets and the dominant control of the private banks will come in the UK, a sovereign people too proud and strong to go down into feudal servitude and the rule of tyrants easily. Or at least one would hope.

http://jessescrossroadscafe.blogspot.com/

[MikeWB]

Good for them but I doubt this is the end of it. Banksters will somehow manage to get what they want.