Why Iceland Recovery Is Being Ignored In Mainstream News

Iceland is a small country with less that half a million people so is not a good comparison with Britain. It’s recovery from near bankruptcy in the wake of the 2008 financial crisis however is due to the rejection of politically correct, globalist politics so in that light it serves to illustrate that to suggest Britain (60 million people) cannot survive outside the EU is just globalist scaremongering.

Follow the link and learn just why Iceland has recovered by severing its links with the European Union’s bureaucratic dictatorship while other counties, Spain, Portugal, Italy and Greece foremost are still enmired in crisis and hamstrung by the membership of the European Monetary system (Euro)are unable to do the things needed to turn around their economies.

Why Iceland Recovery Is Being Ignored In Mainstream News

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Swiss Decoupling Sets The Euro Adrift, Triggers Vast Losses For Banks, And Currency Traders

Nobody is shedding any tears over the news that the deciusion by the Swiss central bank to sever the link that kept The Euro single European currency from the Swiss Franc, it is just another example of really important news you will never read of hear of from mainstream media. It is however bad news for all of us.

People Are Waking Up To The Fact That The European Union Is On The Fast Track To Fascism.
Greece has a General Election and it looks as if the anti – EU, extreme left Syriza party will win comfortably. In previous elections that went against the Euronazis in Brussels, the democracy hating bureaucrats simply told the sovereign government of the member nation that the vote was not acceptable. If their try to overturn the Greek result in the same way it will trigger massive civil unrest.
A Republic Always Decays Into Oligarchy. Here’s Why
Almost a rehash of Schumpeter’s warning, that capital always contains the seeds of its own destruction while socialism always leads to fascism. I guess the old Austrian economist was trying to tel us the only thing that works is chaos. I can live with that.


How the fall of France could accelerate the rise of UKIP
Don’t hold French stocks says former broker Farage as our Gallic neighbour sinks deeper into the Euroshite


Sharia law or gay marriage critics would be branded ‘extremists’ under Tory plans, atheists and Christians warn

EU Cuts Growth Forecasts as Big Economies Falter
Will Anti European Union Feeling Lead To More Integration
British taxpayers give away £30million in benefits to other countries each year
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European Commission puts business profits before the needs of the world’s poorest.

Not Waving But Drowning

Looking at the world situation and America’s worsening position as it tries (but fails) to manipulate events to its advantage brings to mind Stevie Simith’s poem, “Not waving but drowning.” which tells of a man who swam out beyond his range and was so far from shore people did not hear his cries for help and thought he was just larking about.

America is not quite like that, rather than waving frantically as it sinks below the surface of its debt pool, it is shaking an angry fist and blaming Russia, Syria, the Republicans, George W Bush, Europe, anyone in fact except the people responsible for its plight.

From The Trenches sums it up well:

In the present confrontation between Russia and the West over the Ukrainian crisis, the image of the Cold War inevitably comes to mind and the media are obviously fond of it. However, contrary to what it gives us to understand, it’s not Russia that seeks the return of an iron curtain but really the US. An iron curtain separating the old powers and emerging nations; the world before and the world afterwards; debtors and creditors. And this in the crazy hope of preserving the American way of life and the US’ influence over “its” camp in the absence of being able to impose it on the whole world. In other words, go down with as many companions as possible to give the impression of not sinking.

For the US, these are the current stakes in fact: drag along the whole Western camp with them to be able to continue dominating and trading with enough countries. So, we are witnessing a formidable operation of turning round opinion and leaders in Europe to ensure docile and understanding rulers vis-à-vis the American boss, supported by a blitzkrieg to link them permanently with the TTIP and to cut them off from what could be their lifeline, namely the BRICS, their huge markets, their vibrant future, their link with developing countries, etc. We are analyzing all these aspects in this GEAB issue, as well as the subtle use of the fear of deflation to convince Europeans to adopt US methods.

In the light of the extreme danger of these methods used by the US, it goes without saying that leaving the US ship wouldn’t be an act of betrayal by Europe, but really a major step forward for the world as we have already extensively analyzed in previous GEAB issues (1).

Unfortunately, the most reasonable European leaders are completely paralyzed and the best strategy that they are still capable of currently putting into effect, in the best case scenario, seems to be simply to delay (2), certainly useful and welcome but hardly sufficient…

Continue reading:

Like I said, not waving but shaking a fist.

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Kiss Your Money Goodbye – China Sells $48bn US Treasury Bonds

I told you so. Yes once again Little Nicky Machiavelli called it correctly and said the Chinese were ready to take down the US dollar and replace it with a new reserve currency based on the Renminbi.

What do you mean you didn’t read it here, Little Nicky has been blogging a long time and has always warned (since the days of Bush2) that the dollar was very fragile and as soon as China felt ready they could stage a coup and replace the USA as the world’s foremost economic power.

And it looks as if they are ready. The sell off of US treasury bonds spells out the message very clearly.

$48 billion may be a mouse turd sized chunk of the US paper the government of China holds but it’s a hell of a lot to sell in one chunk

Watch this Bloomberg video that explains fully the significance of the move.

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Britain’s Credit Rating Dowgraded By People Who Rated Toxic Debt Bonds

The downgrading of Britain’s credit rating, which will have little effect on us ordunary punters, is interesting only in that it has been done by a credit ratings agency closely which gave triple-A ratings to worthless toxic shite bonds (aka Collateralised Debt Obligations) sold by the banks to a lot of decent people who were persuaded they were putting their money in sound investments.

‘Moody’s announced on Friday night that it had cut the Government’s bond rating one notch from ‘Aaa’ – the highest possible level – to ‘Aa1’.

The agency pointed to “continuing weakness in the UK’s medium-term growth outlook, with a period of sluggish growth which [it] now expects will extend into the second half of the decade”.

Thus these ‘rating agencies’ which were created by the banks for the benefit of the banks. played a major role in the crash of 2008 are now the same agencies (just three dominate the world market) are now credit-rating countries and impacting upon the lives of many people.

While dropping from Aaa to Aa1 will have little immediate effect because few nations still retain an Aaa rating, and at Aa1 we still only pay 3.5% interest on our £trillion and a half debt, when the rot sets in seriously as it has in Greece, Italy, Spain and other Eurozone nations we are looking at paying between six and seven per cent on that £trillion and a half.

Any idea what six % of a trillion pounds is? No?

It is £60 billion a year. Or £1000 for every adult and child in the nation. Or about 5% of GDP. Or a hell of a lot more austerity measures than left wing politicians and media dickheads have been complaining about over the past few years.

First we need to get that debt down. If you don’t believe me, go to Greece, Spain or Portugal and ask how life is right now. Or go to Italy and you can join in the celebrations if Silvio Berlusconi is re elected on a platorm of standing up to the Gauleiters of Brussels. Then we need to dump politicians who are in the pockets of the New World Order bankers (all three major parties in the UK) and elect some leaders who are apable of thinking for themselves.

Shame and humility are not the greatest gifts of bankers or politicians, gobsmacking levels of arrogance are more their line. But their ranks a numbered in thousands, there are sixty million of us. Time to show them who is boss.

Update:

So Why Don’t The Bank Of England Just Do The Sensible Thing?

The Bank Of England is not what you think it is. Most people think Th Central Banks are owned by the nation, in fact I have seen many vitriolic argements about the US Federal Exchange in which well informed people of not particular political persuasion tried to explain that The Fed is owned by private inteests and thus does not have to do what is in the best interests of American citizens and US Liberals, the most fanatical members of the Obamessiah cult who insist their wondrous leader controls The Fed and thus everything it does is in the best interests of the American people and anyone who disagrees is a racist and a young earth creationist right wing nut job. Obamessiah cultists are not big on sanity.

The same goes for The bank of England although British lefties usually manage to be a teeny bit more rational in their responses to the truth.

We The Punters do not own the Bank of England, neither does The Queen nor the Government; it is owned by 1000 share holders whose identities we are not allowed to know (The Boggart Blog bookie is not taking bets on some of them being named Rothschild). So it doesn’t really matter because the 1,000 will decide what happens to the UK’s monetary policy anyway.

“In 1977, the Bank set up a wholly owned subsidiary called Bank of England Nominees Limited, (BOEN), a private limited company, with 2 of its 100 £1 shares issued. According to its Memorandum & Articles of Association, its objectives are:- “To act as Nominee or agent or attorney either solely or jointly with others, for any person or persons, partnership, company, corporation, government, state, organisation, sovereign, province, authority, or public body, or any group or association of them….”

Bank of England Nominees Limited was granted an exemption by Edmund Dell, Secretary of State for Trade, from the disclosure requirements under Section 27(9) of the Companies Act 1976 , because, “it was considered undesirable that the disclosure requirements should apply to certain categories of shareholders.” The Bank of England is also protected by its Royal Charter status, and the Official Secrets Act.”

OK, so now you know why the Bank Of England does not act in the interests of the people. Makes a lot of other things crystal clear doesn’t it.

As Britain Goes Jubilee Mad It’s Business As Usual In The Eurozone

Little nicky’s friends at The Daily Stirrer has consistently reported the truth about the Euro crisis while mainsteam print and broadcast media have consistently tried to suggest there was nothing wrong that could nut be put right by simply mugging German taxpayers to bail out debt problems in basket case nations like Greece, Portugal, Ireland and Italy. Another basket case nation, one that compounded it’s economic folly by committing to expensive and almost totally inefficient “green” energy projects is Spain. Now as a Spanish economic collapse that will need another massive bail out from north Europeran taxpayers draws closer every day we hear that another small EU nation, Cyprus, has at last admitted it is bankrupt

Spain’s ruling party, only recently elected, has begun to crack under pressure, signalling for the first time that the country may need a European rescue to shore up its banking system.

Meanwhile even the mighty German economic behemoth is faltering as one of it’s main customers, China, feels the pich due to Economic contraction in the USA and Europe.

While British financial markets remained closed today for the Jubilee celebrations, the German stock market fell sharply on fears of US economic relapse after last Friday’s terrible employment figures and news of a sharp slowdown in China. Spanish, Italian and French shares rose slightly on hopes of new eurozone fiscal authority to control national budgets and manage debts As any such scheme depends on German financial stability a news pan European financial policy already looks a forlorn hope..

Europes Crisis Is Going To Get A Lot More Insane

How would you go about solving your personal debt problem if your credit cards were maxed out, your overdraft was over it’s limit and your income would not stretch to buying basics after all the interest on your morthgage and loans had been paid.? Go to a loan shark? Of course not, that should be a no brainer even for politcians and bureaucrats. But it is exactly where Europe is heading.

Euro-Lefties have been having a thin time of it recently. Only three per cent of EU citizens live under socialist or socialist-led governments. The European People’s Party is the largest bloc in the European Council, as measured by voting weight, second are the European Conservatives and Reformists, who edge ahead of both the Liberals and the Socialists.

That, though, is about to change. France,a nation in which the state consumes 56 per cent of GDP, even more than our own greedy government – monster, and whose budget was last in balance in 1974, has just elected François Hollande who, on a platform of ‘growth, not austerity,’ (if only achieving it was as easy as saying it) will try to create illusory growth in the economy by borrowing more and more money at ever higher interest rates and giving it away to the lazy, the shiftless and the corporations whose business is built on mining taxpayer’s pockets.

Greece, which also voted when France did and now must vote again, is inclining toward a pack of communist parties; the politicians there who talk openly of the need for cuts currently command less than seven per cent in the polls.

Fortunately the parties of Greece’s fragmented left hate each other more than they hate the bankers who screwed their country Romania, too, is about to install a Leftist ministry, following the defeat of the last government’s austerity platform. As other elections follow around the poor nations of Europe, we can expect more of the same.

The invevitable result of this will be that Europe will return to and intensify all the policies that brought it to its present unhappy condition: loonytoons spending, unsustainable borrowing, obscene levels of taxation, deeper fiscal and political integration integration. Voters, protected from reality for too long by the EU’s overgenerous benefits system are in not willing to accept less generous benefits and pensions. They’d rather be told what they want to hear that the money can somehow be got out of the rich.

A politician who admits the truth that the rich, a tiny fraction of the total population, have nothing like enough to pay for all the things that modern governments want to do is liable to have rotten fruit, dead vermin and molotov cocktails thrown at him … by member of his own party.

Even in the north European countries that still recognise the virtue of financial discipline the Centre-Right parties in government have done little to bring spending under control. All are running deficits that would have been catastrophic a generation ago. But like the other Elepphant In The Room, immigration, nobody wants to talk about it.

For Britain, official Treasury figures show that, contrary to almost universal belief, total public s ending is higher today than it was under Gordon Brown. The left constantly scream abouut the unfairness of the Coatolitions cuts but the Coalition austerity measures have not reduced spending by one penny. All that has been achieved is a lowdown in the rate of acceleration at which we are amassing debt.

The EU is in a downward spiral. The worse things get, the more reluctant its governments are to tackle the underlying problem of excessive expenditure. Lacking any alternative narrative, voters blame the lack of growth on ‘cuts’, ‘bankers’ and ‘deregulation’. They then support parties committed to even higher spending – which, of course, exacerbates the problem. And, as if national governments were not burdensome enough, Europeans must also contend with more rules and more taxes and a headlomg dash towards fascism from Brussels.

The E U is insance and growing more psychotic by the minute. We must get out. Ignore those wimps who say it is impossible; unless you want to live under a system of oligarchic collectiveism (see George Orwell’s 1984) we simply cannot allow it to be impossible. FFS we stood up to Hitler’s Wehrmacht, have we become so weak we are prepared to let a bunch of penpushers in Brussels destroy our nation?

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Schumpeter’s Warning and the economic mess

World on the Greece – y slope to financial ruin.

According to news reports, finance ministers from the world’s leading economies worked on through last weekend to line up a deal that will see the world embark on a second global rescue package worth nearly $2 trillion in April this year.

They claim this is needed to stop the euro-zone sovereign debt crisis from spreading and putting at risk the tentative recovery.

Germany said it would make a decision some time in March on strengthening Europe’s bailout fund, a move other Group of 20 countries say is essential to clear the way for throwing extra funds into the International Monetary Fund.

I have been doing a little research and found that the nations coping best with the economic slump are those that did not join in the first money priniting exercise stimulus. The point about such a project is it contains the seeds of it’s own destruction. Printing money is not a question of revving up the printing presses. Money these days exists computer databases and only shows up in spreadsheeds.

There is very litle real money around.

So when we say ‘printing money’ it means governments borrowing money on which they must pay interest. And the more money governments borrow to finance their profligate spending, the more interest they must pay.

This is how Greece got into it’s current state. The interest that nation must pay on its €1,7 trillion debt at current interest rates of around 7% is €120 billion. With a GDP of about €220 billion and falling the nation is in a spiral of debt. It must take on more debt by borrowing to pay the interest on existing debt. Simples.

So long as economists and politicians choose to ignore this we are all on the Greece – y slope to the same fate.

What makes matters worse is nobody in their right mind would lend to governments these days so governments are buying in their own bonds, i.e. borrowing from us poor punters. And they are not giving any guarantees when or even if they intend to pay us back.