THE MONEY MASTERS ARE ENSLAVING ICELAND.

Save the People of Iceland - the Official Petition


We the undersigned support the people of Iceland in their uprising against being bullied into taking on more debt then they can possible handle from the private bank Icesave. Private debt should never be passed on to taxpayers.  http://savethepeopleoficeland.com/  

Iceland may be the first Western democracy to be forced into South-American style debt-slavery. The IMF, in concert with the UK and the Netherlands, has attempted to strongarm the recently impoverished Island of 317,000 into paying over 3.6 billion pounds ($6.3bn) -- $86,000 per Icelandic family -- at 5.5% interest for the next generation. The money is not conventional government debt, but arises from the collapse of a private multi-national bank during the financial crisis.

The issue is so serious that the entire nation will vote on the issue towards the end of February 2010.

On December 30, 2009, after extraordinary diplomatic threats, Iceland's parliament passed narrowly a bill agreeing to pay the onerous terms. Only a few months earlier parliament had agreed to the full amount, but under more reasonable conditions.
The people of Iceland must be internationally supported, so they can feel safe in voting down debt-slavery. If Iceland falls, it won't be long before other countries suffer similar financial extortion.

http://en.wikipedia.org/wiki/Icesave_dispute

THE MONEY MASTERS ARE ENSLAVING US, and USA.

AVAILABLE AT GOOGLE VIDEO

http://video.google.com/videoplay?docid=-515319560256183936&hl=en

THE MONEY MASTERS part 1.

BRAVE ICELAND!

by Lyndon H. LaRouche, Jr.

January 7, 2010

It goes virtually without saying, that I am proud of Iceland and its President.

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Iceland President Stands by His People

January 8, 2010 (LPAC)-- Despite the hostility of the governments of Great Britain and the Netherlands, which have threatened to kick Iceland out of the "international community," Iceland President Olaf Ragnar Grimsson is standing by his decision, and defending, in interviews and statements, the right of his people to national sovereignty. In the Financial Times today, he is quoted as saying, "The Icelandic constitution is based on the fundamental principle that the people have sovereignty. It is the responsibility of the President to make sure that the will of the people will prevail."

He then called on the peoples of Britain and Netherlands ("and their political leaders") to stand "with the longstanding democratic traditions of Britain and the Netherlands, acknowledging that a referendum is a democratic way of making a decision," Grimsson was also interviewed in Swedish radio.

In an interview with BBC on Wednesday evening, Grimsson was verbally assaulted by the host, who looked like an attorney for Shylock and treated the President of a state like a felon. "Don't trust an Icelander," "Aren't international agreements more important than a President's will?" and "Are you happy with these results?" (downrating, loss of international credit, etc.) were the interviewer's questions and remarks. Grimsson taught the arrogant fellow a lesson, telling him, "I understand that Britain is not familiar with systems where the people is called to express its will " and that in Iceland, "not the parliament, but the nation is sovereign."

In contrast to the oligarchy, the British people continue to express their sympathy for Icelanders, at least judging from readers' comments continuing to flow in to major dailies (see below). It is probably due to this that a faction of the British establishment, represented by the Financial Times, has taken a distance from the government and openly rejected the "hard-line" approach towards Iceland. Significantly, an FT editorial today is entitled "Do Not Put Iceland in a Debtors' Prison." The FT also chose to publish a letter by Advocacy International, saying that it is "unjust" to make Iceland take sole responsibility for the "reckless behavior of private bankers and risk-takers."

The FT ran as a blowup quote, the view of its chief financial commentator, Martin Wolf: "This is not about cutting a running deficit, which is, indeed, unavoidable. It is about forcing innocent people to assume gigantic liabilities for which they have no legal or moral responsibility. How would U.K. citizens feel if they were forced to assume a debt of ￡400 billion because of HSBC's failure to meet deposit insurance liabilities in Asia? Let the U.K. take the bank's assets and leave it at that."

Also, Michael Hudson from the University of Missouri writes that "Iceland has the right to refuse debt servitude." Hudson argues that Iceland could pay foreign debt only out of balance-of-payments receipts, i.e. through export revenues. But already fish export revenues have been entirely earmarked to service existing debt; the same goes for aluminum exports and its geothermal and hydroelectric resources. Add to this the fact that most families have mortgages which, if the currency is depreciated, can only get worse, and you have the picture: It is impossible for Iceland to pay the debt. "A pragmatic economic principle is at work in such conditions. Debts that cannot be paid, will not." If we have learned the lessons of the collapse of living standards in post-Soviet Russia, he ends by asking, "by how many years must Icelandic lifespans shorten?"

According to a European banking source, the British and the Dutch are going to dump the burden on Scandinavian countries. On their side, the resistance organization in Iceland is calling on the Scandinavian governments to support them against the London and The Hague.

THE QUESTION BEFORE US

The question addressed by the following presentation, is:

What are to be recommended for consideration as perspectives for what is (a) a truly, urgently needed four-power initiative on behalf of a mission-oriented process of transformation of the world’s economic systems, (b) away from the presently ruinous effects of submission to an implicitly financially imperialist, global monetarist system, a virtual “new Tower of Babel,” and, (c) toward an urgently needed, fixed-exchange-rate credit system of (d) mutually beneficial, global cooperation among peoples organized as a community of respectively sovereign nation-states.

This presumes the indispensable, included, practical measure of the included, (e) immediate application of the precedent provided as the principle of the Glass-Steagall reform which was introduced to the U.S.A. under U.S. President Franklin Roosevelt.

Which also means, once more, (f) the eradication of intrinsically pro-imperialist, monetary systems, by their replacement by (g) a system of sovereign national credit-systems configured in the formation of a long-term, fixed-exchange rate array of national credit-systems.

Since most of the nominal monetary-financial assets abroad presently, are loaded with an implicitly hyper-inflationary accumulations of increasingly worthless “paper,” an immediate change from a monetary system, to a fixed-exchange-rate credit system, is the only presently available hope for avoiding the plunge of the planet as a whole into a prolonged new dark age.

What is written on the current state of the British empire, is admittedly harsh, but must be stated as a truthful representation, without fear of any actual exaggeration respecting the current policies of practice of the present British Royal House. I have been careful, not to overlook the natural, national rights of the people of the United Kingdom, with whom I, after all, share an certain ancient ancestry.

More: http://www.larouchepac.com/node/13070

Iceland President Warns British Leaders Who Behave in a "Versailles Mode" | LaRouchePAC

January 9, 2010 (LPAC)—Iceland President Olafur Ragnar Grimsson warned British Prime Minister Gordon Brown and Chancellor of the Exchequer Alistair Darling to be careful about the Iceland-bashing. "It is very important for Alistair Darling and Gordon Brown to realize that a few minutes after they speak to their audience in Britain, everything they say is being talked about in Icelandic fishing plants, and every village, and every office. We live in a global village where leaders in Britain can have a negative or positive impact on a referendum in Iceland," Grimsson told Britain's "Today" program. "If they want a constructive outcome of this dispute, they should be aware every sentence they say will have repercussions on the debate in Iceland."

Nothing has changed at Downing Street since the Versailles Congress 1918: the British government is behaving towards Iceland as it did with German reparations after World War I. The Financial Service Secretary to the U.K. Treasury, Paul Myners, has written a letter to the Financial Times making the point that it is "Important that this international agreement is honored." Apparently annoyed by the Financial Times opposition to the gunboat methods of the British government, Myners says: "It is very important that Iceland honors its international obligations and repays money provided by the U.K. to protect Icesave depositors." Myners argues sophistically that the repayment agreement allows Iceland to honor the debt without hampering its economic recovery, but does not move one inch away from his position. According to Myners, for Iceland to dedicate 4% of its GDP just to repay Icesave's speculative losses is fair! And this, at the same time that Iceland is promised EU membership, which means submitting to a 3% cap on deficit!

Myners' rantings are published under a letter pushing the opposite view, written by a Cambridge Fellow named Michael Waibel, who warns Britain that under EU laws, Britain has "no clear legal obligation to pay up." That in the best case, England has only 60% chance of winning its case. And even then, one should remember "the advice given by Elihu Root, a former U.S. Secretary of State and Nobel Peace Prize laureate, to James Brown Scott, his legal adviser: 'We must always be careful, and especially so in our relations with the smaller state, that we never propose a settlement which we would not be willing to accept if the situation were reversed.'"

Iceland's Economy Minister Gylfi Magnusson confirmed in Dagens Nyheter today that the government will probably resign if the referendum turns down their Icesave bill.

Iceland sees the first anti-bailout revolt | City AM

Iceland sees the first anti-bailout revolt City AM

Allister Heath

ALLISTER HEATH

SOMEONE should give Gordon Brown a copy of John Maynard Keynes’ The Economic Consequences of the Peace. Published in 1919, it addressed post-war Germany – but the book is uncannily relevant to the situation in today’s Iceland, explaining how crippling reparations enforced by powerful foreign nations on an unwilling population are counter-productive. Iceland – unlike Weimar Germany – won’t turn to extremism, though an eventual descent into national bankruptcy and hyperinflation is a real possibility, with Fitch yesterday downgrading the country’s debt to junk.

The UK and Dutch governments have been too harsh towards Iceland, to deflect the attention from their own stupidity – and now its people, who fear being pushed into poverty, are revolting. It is the first successful grass-roots anti-tax, anti-bailout revolt since the onset of the credit crunch.

The row boils down to Landsbanki’s Icesave unit, which like the rest of the Icelandic banking system collapsed in 2008. A small group of Icelandic entrepreneurs pushed the crazed Northern Rock banking model to its extreme, borrowing vast amounts to build financial giants with massive European property assets. These were often operated out of London and given the seal of approval by the FSA, academics and “experts”. But when the credit markets imploded, the banks collapsed.

British and Dutch depositors in Icesave were bailed out by their governments; Iceland had said it would cover the first €20,887 in accounts but didn’t have the foreign currency to meet its obligations. It was a worthless promise which should have been seen as such by the UK authorities: tiny nations are physically unable to guarantee all the foreign liabilities of any giant bank that they happen to host. Either they shouldn’t host the banks; or they should explicitly state that they are unprotected and in a real free market; or their banks should take part in pre-funded insurance schemes.

The bankers were incompetent, as were the Icelandic authorities, the UK authorities, the EU and the depositors who didn’t do their research. Egged on by price comparison websites and personal finance pages, the public assumed regulators would ensure every newfangled online bank was safe and forgot that high returns often mean high risk. Instead of acknowledging this, Brown is pursuing a vendetta against Iceland, trying to recoup all of the cash from its government.

Bailouts have been unpopular all over the world. Until now, however, voters were never consulted – but after a fifth of Iceland’s entire population signed a petition against the terms of a proposed £3.6bn reimbursement (at a 5.5 per cent rate of interest and a 14-year schedule) the proposal will now be put to a referendum and crushed. The sums involved are huge: 40-60 per cent of Iceland’s national income, taking the national debt to 200 per cent of GDP. Each of Iceland’s 304,000 citizen would have to pay £11,700 without getting shares or any assets in return. The money would be gone for good. Imagine if UK taxpayers were asked to pay £700bn to overseas governments because one of our banks had messed up. We too would be up in arms.

Iceland will hopefully hand over some money, albeit on more sensible terms. But the last thing we need is for Britain, the IMF and the EU to push Reykjavik into total bankruptcy or nobody will get anything. Shame that Brown, a self-professed Keynesian, has actually failed to heed his master’s warnings. allister.heath@cityam.com

LaRouche Demands Harry Reid Resign for His Gutlessness!

December 24, 2009 (LPAC)—Buried in the hundreds of pages of the bill Reid is ramming through the Senate, in Sec. 3403 dealing with the IMAC (or IMAB), which is a genocide panel equivalent to Hitler's 1939 "T4" policy of genocide, Harry Reid was criminal enough to write that no future Senate or House of Representatives would ever be allowed to question the Nazi policy of IMAC, or, exactly as he says there in his own words: "It shall not be in order in the Senate or the House of Representatives to consider any bill, resolution, amendment, or conference report that would repeal or otherwise change this subsection." Like Hitler's "Thousand-Year Reich," Reid would throw the Constitution overboard to make the IMAC death-panel the unalterable law of the United States forever! This is nothing but a Hitler demand of Harry Reid. And if Obama goes through with that, and supports it, then Obama is dead meat. He'll be impeached. Because the US population now will not go with Hitler healthcare policies. Reid should resign now, out of embarrassment for pushing this through!
Therefore, Lyndon LaRouche today demanded the immediate resignation of Harry Reid. "Because Harry Reid has now made himself a duplicate of Adolf Hitler, he's responsible for every Jew who was killed by Hitler," LaRouche said. "Harry Reid must take personal responsibility for every Jew killed by Hitler, by allowing this thing to go through. Every Jew who was killed by Hitler, Harry Reid is responsible for now! He must resign immediately in embarrassment, in abject apology to the American people for copying exactly the Hitler policy, which is so infamous. He has made a page for himself in infamy!
"No one has the authority in the Senate to do that," LaRouche specified. "We demand the immediate resignation of Harry Reid on the basis of his having done this. This is unconstitutional; it's a violation of law, and, actually, it's an indictable offense. Harry Reid has committed an indictable offense in sneaking this thing through.
"Harry Reid has committed a crime against humanity," LaRouche continued. "He has consciously condoned a crime against humanity, and this feature of the legislation which he rammed through, is a crime against humanity. And if he's got any honor left in him, he's going to publicly resign. That's from me. They need that from me," LaRouche added, "because there's nobody else with any guts in this damn situation, who's in a key leading position. Bill Clinton has certainly not got the guts to deal with this; I have to deal with it.
"We demand the resignation of Harry Reid," said LaRouche, "and if the President supports it, we demand his resignation. Because all the Jews and others murdered under Hitler, will now move, spiritually, to demand their resignations.
"This guy is dead meat," LaRouche said of Reid. "He's committed a crime which is not forgiveable. He's out, he's finished. This action by him has finished him. He's finished as a political figure in the United States. The reason he's finished, essentially, is not what he's done. It's his lack of guts. He's finished because of his lack of guts. He lost because of his lack of guts.
"I condemn him not for his crimes, in terms of this fascist policy, but for his lack of guts in that he's enforcing it," LaRouche concluded.

The LaRouche Plan for Economic Recovery, Now!

http://www.larouchepac.com/lpactv?nid=12891

THE REAL CHANGE IS COMING

The Coming Three Weeks Are Predetermined By Dynamics:
Implement the Measures I Propose, or We Loose Humanity.

Let's get the picture: First of all, what some of you still don't understand, even bright people, you still think in terms of kinematics, not dynamics, and this is typical. There are very few people— only by being pushed, do they ever get to dynamics. You're just not used to it. A former President doesn't really understand it, either, and they make mistakes.
All right, now what are we into? We saw a process last August, in which a lot of the American people went out to tell their Congress, "You — shut up! Now, listen: Here's what we want you to do for us, now you listen!" Okay, that process didn't end. It wasn't an "event": There was a process, where the American people were stirred up to the point, they were telling their representatives in the Congress, "You! Shut up. Listen —you're acting terribly. You're going to change now, aren't you? Here's what we want you to do, we want you to listen, and change your behavior."
Well, they didn't, did they? They still are playing the games, like the crazy thing — I mean, this idea of trying to push this health care through is a real piece of idiocy! Particularly at this stage.
Well, the process has gone on, since last August. It's undergone various transformations. Now, we're reaching the point that we're headed toward a breakdown. There's a breakdown crisis in process in Europe, there's a breakdown crisis in the Americas, there's a breakdown crisis inside the United States. We can not, at this point, assume, that unless we do what I will emphasize we must do, by the middle of January — no later — unless we do that, the United States will go down, and the world will go down, into a prolonged Dark Age. So people who have these ideas about step-by-step, the usual kinematic kind of thing, we'll do this, and then we'll do this, and then we'll do this — no! You won't do that.
What's going to have to happen, the first thing that's going to have to happen to do any damned good at all—any other measure's a waste of time—is to immediately install a transformation from a monetary system to a credit system. And this is done by the vehicle of a Glass-Steagall reform of the entire banking system. Which means that those parts of the banking system which do not conform to a Glass-Steagall standard are simply put aside; they don't count. And that would probably take a good deal of about $22-23 trillion worth of bailout money away—it would just fly away, a good deal of it. And then, we would turn around, on the same day virtually, and we would utter credit-system credit for large-scale programs. We would immediately install the Homeowners and Bank Protection Act of 2007, which should have been done then: because the housing crisis is very serious, right now, and there's no answer to it, except this.
First of all, you agree that you're going to change the U.S. system, from a monetary system, which it is now, to a credit system. And the credit system will conform to a Glass-Steagall standard for commercial banks. And we're concerned only about commercial banks, and also savings banks, of course; but, commercial banks. The Wall Street-type banks, they're on their own. If they can't meet up to the standard? That's it! We're going to write off trillions of dollars of phony-money debt, in order to save the world.
And this has to be done in the first weeks in January. This is the highest priority: This is emergency legislation, because if we don't do that, somewhere, maybe a little bit after the middle of January, or even possibly before, the whole system's coming down if we don't do it, beforehand. MORE: http://www.larouchepac.com/node/12879

THE REAL CHANGE IS COMING