Dutch and British governments bailed out bankers for making stupid loans in Iceland, and now those governments want the Icelanders to pay them. Icelanders said no.
This is very good news, and Ireland should have followed this route (actually they did, but their leaders sold them down the river)
The article claims the vote will lead to economic chaos. What Iceland has now, complements of their entangling alliances with Europe, is economic chaos. A no vote will bring order out of chaos.
Iceland will clear its debts tough defaults and other means, and then their credit and economic standing will be superior to all others. A little secret the powers that be do not want you to understand is when you've discharged all your debts, then you are free to start over, do it again.
Those countries whose leaders pledge to keep their citizens in perpetual poverty please the powers that be. Those who choose freedom and reject the bailouts as as pleasing as well, since they becomes able to borrow again, and tart the process over. Think Germany and Japan, wiped out after WWII, and what wonderful markets they were for USA.
Monday, April 11, 2011
Iceland Votes No on Bailouts
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