The secret sauce: NO BANKSTER BAILOUT!
- How Iceland Overthrew The Banks: The Only 3 Minutes Of Any Worth From Davos (Video)
- Impossible In America: ‘Executives At Collapsed Iceland Bank Jailed For Fraud’ (Reuters)
- The Icelandic Success Story
- Iceland’s Economy Now Growing Faster Than The U.S. And EU After Arresting The Banksters
- Here Is What Happens If You Do Not Bail Out The Banksters And Avoid Getting Raped By The IMF
- Two Thirds Of Icelanders Oppose EU Membership
- A Lesson For Europe: Why Iceland Won’t Join The Euro (Video)
- Iceland Once Again Tells IMF, UK, Netherlands To ‘Go to Hell’; ‘Ice Torture’ Repayment Scheme Collapses
Icelanders learned their lession …
- Iceland Cancels EU Membership Bid
… maybe also observing Greenland:
- Why is Greenland so rich these days? It said goodbye to the EU!
- The Secret Sauce Of Iceland’s Success Story: Debt Liquidation? (ZeroHedge, June 24, 2013):
That Iceland is so far the only success story in the continent of Europe, which continues sliding into an ever deeper depressionary black hole, as a result of the complete destruction of its financial sector and its subsequent rise from the ashes, is by known to most. What is still not exactly clear is what conditions have allowed success and growth to flourish in a barren wasteland where 60% youth unemployment is increasingly the norm, and where economic “outperformance” is measured in shades of red. As it turns out, perhaps the biggest jolt to Icelandic economic growth is what we said was the correct prescription for resolving not only the US but global growth malaise that struck in 2008: debt liquidation. Of course, instead the powers that be opted for merely masking unsustainable debt with more debt in the hope of preserving the global financial equity tranche, where some $50 trillion, or two-thirds of total, in US household wealth is concentrated, by drowning out hundreds of trillions in global debt through controlled debt inflation – which four years later still has yet to take hold, and which with every incremental dollar, yen, franc or pound printed threatens to spillover into uncontrolled hyperinflation, i.e., loss of fiath.
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Tags: Banking, Debt, Economy, Global News, Government, Iceland, Politics, Society