Monday, April 11, 2011

The Mouse That Roared (Again!): Iceland Rejects Rothschild IMF "Icesave" Repayment Scheme

It was over two years ago that Iceland went through a total economic collapse at the hands of some very criminal bankers.  Since that time, the nation has been fighting the demands of the Rothschild controlled European Union, its so called central bank, and the equally criminal International Monetary Fund (IMF) to pay out over 5 BILLION dollars owed, primarily to British and Dutch "investors", which was not the fault of the citizens of Iceland themselves!

Last year, the Icelandic people rejected the initial demands of the criminal Rothschild bankers by a whopping 93% of its citizens saying NO to a "bailout" then.  Well, just this last weekend, according to this article from The Daily Bail, at, it appears that the people of Iceland have rightfully rejected another forced bailout again!  Here is that article:

Iceland Does It Again! Icesave Repayment Scheme Rejected

Iceland voted yesterday in a second referendum on the proposed Icesave deal, rejecting it by a 57% to 43% margin.  UK and Netherlands depositors were bailed out by their own governments in 2008 when the Icelandic bank failed, and now the British and Dutch want Iceland to reimburse them for approximately $5B. 
An earlier deal had been overwhelmingly rejected by 93% of voters last year.  The current proposal would extend Iceland's repayment out to 2046 and reduce the interest rate to 3.3%.  Plus, a portion of the total $5B would be covered by the sale of Landsbanki (aka Icesave) assets, with taxpayers paying the rest.  As far as things go, it wasn't a particularly bad deal.  But it's still a bailout and the people of Iceland are having none of it.

Bloomberg reports the comments of a Reykjavik shopkeeper who says a "No" vote,
"will be a wakeup call for the citizens in other countries.  They’ll realize that there’s no fairness in pushing bank losses onto taxpayers when things go sour, but pocketing the gains when everything is going well. A big fat ‘no’ from Iceland will drive that point home.”

The party line from the EU and the IMF, though, is that if voters reject the deal, then the Icelandic government will not be able to access the international bond market.  Moreover, the ratings agencies have already downgraded Iceland government bonds to junk.  Funny thing is, CDS on Icelandic debt are running at about half of what it costs to insure Irish or Portuguese bonds -- and they've gone full speed ahead with their bank bailouts.  As for that, I'd put my money on the debt markets and Icelandic voters before I'd trust Moody's or the IMF.  We've said it before, but the lesson is clear:  if you swamp your country with bank bailout debt, you will likely run into a sovereign default.  If, on the other hand, you let bank creditors twist in the wind (as they should) you will actually be in much better fiscal shape than you would be otherwise, the IMF be damned.

Further Reading...

NTS Notes:  You really have to love how the criminal bankers have tried to cover up this enslavement bailout by calling it "Icesave".  I bet the spin doctors were hoping that this could  be their way of selling this horrific perpetual debt enslavement to the people of Iceland. Thank goodness the Icelandic people are again seeing through the charade. 

Iceland has balls that the people of Ireland and Portugal wished they had.  The proud people of Iceland are not about to bend over and basically become slaves to private bankers like the Portuguese and the Irish have become.

The people of the other nations of Europe should take careful notice of what the Icelandic people are doing and break their own shackles and slavery to the Rothschilds.   The criminality of private central banking and its evil debt enslavement system must be exposed, and ended immediately.

More to come



mary sullivan said...
jew domination of Canada

Northerntruthseeker said...

Thanks for the link, Mary... Sorry I did not comment earlier...

Election or as I call it Zionist Jewish puppet "selection" time in Canada... I am trying to decide if it is even worth the effort to even vote!