Iceland President Accuses England, Holland of Financial Bullying

[JohanRegus12]

A President who cares about the people's views and the well of his country rather than bankers and big corporate interests. Wow. Almost unique today, unfortunately.

[FreddieBambino]

@JohanRegus12

The president doesnt give a toss about the people. He was the bankers biggest cheerleader in the boom time. He served like their pet dog, always came with them over sees making nationalistic speeches about how clever Icelandic bankers were and referencing our nature as reason they were so successful, the guy is one of the biggest hypocrite and idiot I have ever come across in politics.

[ALBIONTYKE]

Respect to Iceland. The only country in the world to stand up to the banking cartel. It is not the fault of the Icelandic population, but the Icelandic bankers. Iceland is the only country to lock up it's bankers. No other western country has the guts to do that. The rest of western nations are heading for serfdom, only Iceland will remain free.

Greetings from England.

[omarherr22]

no pay nothing , Jews bankers had robbery to much !

[justgetsome]

What balls on the Icelandic people to stick it to everyone! They didn't make the loans they shouldn't have to pay them back, the general public that is.

[megalithix]

Freddie darling! - If the UK public is saddled with debts from another country (i.e., USA), then the people of the UK should terminate the government puppets (politicians) who allow this. WHOSE debt is it? Not mine. Not yours. Only the thieves who did the dealing. So make THEM pay for it. Then kick them out of the UK and ban all such investors from living in the UK, or Iceland, etc. But to make the Icelandic people pay for summat they didn't do is criminal. Simple as. WAKE UP!

[FreddieBambino]

@megalithix

You dont seem to understand anything. THE UK IS BEING SADDLED WITH DEBTS FROM ANOTHER COUNTRY because Iceland is refusing to sign the agreement, you talk like this is some hypothetical situation.

AND AGAIN, Iceland wont need to pay anything if they sign the agreement since the estate of old landsbanki will take care of our share. You get that finally, Iceland wont need to pay a penny if it signs this agreement.

[FreddieBambino]

To say that governments should not guarantee deposits is stupid. Icesave were normal deposits on a savings account, its not like they were investing in stocks or bonds.

If governments are not liable to pay minimum deposits guarantee, then all incentive for restricing or in fact surveilling the bank is gone. Then Iceland could think in 10 years, ok, we need more tax revenue, why not send some greedy bankers to fetch deposits we can tax then we let them go bankrupt and only pensioners lose money.

[FreddieBambino]

So what Iceland decided to do, was to ensure all deposits of Icelanders fully, not only that, but also actually repay Icelanders money lost in investment funds and on top of that, to even re adjust mortgages of Icelanders.

When UK and Netherland governments then said, well what about your clients here in UK, Icelandic government thought, oh well, fuck them and afterwards they started posing this as some kind of struggle between banks and public, ha ha, hilarious and even people in UK swallow it

[FreddieBambino]

Iceland made a killing on the boom. Typically Icelanders will serve foreigners some childish argument like "why should we pay, we never got this money", except for the fact that Foreign creditors have written of debt at least 5 times the nations GDP. Meaning almost every job, every mortage, all the infrastructure built here, factories, houses, conference hals etc etc all of which the state reaped handsomly in tax and returning record surpluses allowing them to pay their state debt.

[JohanRegus12]

@FreddieBambino But the fact remains that these were private banks operating as private banks! Why should the Icelandic people pay for the losses of banks that had been privatized and the government had washed its hands clean off years before? It only makes sense to operate with a public guarantee for the losses of private companies if they also share in the profits.

The initial, structural error was of course that the banking sector was privatized and deregulated in the first place.

[FreddieBambino]

@JohanRegus12

That's a cheap argument and it doesnt even apply in this regard.

1. Because Iceland guaranteed all deposits in Icelandic branches to the top, it even repaid lost money in INVESTMENT funds and it has readjusted mortgages of people. The public would have been OUTRAGED if they did not do that. But when it comes to the foreign branches, "oh fuck them, state shouldnt pay for private banks". Hilarious argument.

[FreddieBambino]

2. Iceland had signed into law the depositers guarantee scheme, which means that the state guarantees around 20.000 euros per account. Icelandic government was very eager to tell foreigners in the boom time that these banks were sound and that deposits had guarantee from the state. After all this, they just want to turn around and say, "Hey, why should we pay, it's a private bank".

[FreddieBambino]

3.

Iceland reaped HEAVILY on those banks. The money from the banks was taxed, created tons of jobs. In the boom time we had like 1% unemployment. When the loans were cut off, we had around 9,5% unemployment. Our industrial output was rising faster than China's in the boom time with all the investment here in infrastructure.

[FreddieBambino]

4. AGAIN. If Iceland would have signed this agreement, they wouldnt need to pay ANYTHING because the asset of the bankrupt banks can cover those claims to the full. What the state did is push creditors of the bankrupt banks, like pensions funds, foreign banks etc out of the line and moved foreign depositors up the line so that the assets first pay the depositers, and the rest goes to the creditors of teh bank. This is perhaps nasty and not very respectable, but I think nessicary.

[megalithix]

HUGE respect for that man! 

[FreddieBambino]

@megalithix

lmao, you have huge respect for that man and you are from UK? Olafur is half retarded to tell you the truth.

He is disguising this as some idiological struggle between banks and the public, but in fact this is a clear cut case of Icelanders, as always, being to cheap to shoulder responsibilities and they want to shift the cost over to the UK public. Icelanders already got all their deposits paid back, got their loans re adjusted as well, they just dont want the same for foreigners

[megalithix]

Freddie darling! - You really need to open your eyes A LOT! The bankers have committed treason on international levels, then try make others responsible for their errors. Simple as. The Icelandic PM may be a twit & a liar (politicians are), but at least he's not making the Icelandic people pay for a bill that isn't theirs. If you think it's OK for taxpayers to bail out bankers, maybe you'd like to pay all MY personal utility bills and debts? - just like the banks do.

[FreddieBambino]

Again, you dont know what you are talking about megalithix. This is NOT a struggle between banks and the public. The public will pay for this, the question was only if it was going to be a shared burden between UK, Netherlands and Icelandic public(mainly uk and netherlands since according to the agreement Iceland would not need to pay a penny since the assets of old landsbanki would take care of our share).

[FreddieBambino]

Landsbanki(which is my bank) had branches in Reykjavik, London, Akureyri, Amsterdam, Kopavogur and so on. Icesave was a branch, not a subsidiary(Kaupthing edge accounts were subsidiaries on the other hand so Icelanders had no responsibilties to those since they were wholly under the surveillance of the countries they operated in).

[megalithix]

Freddie darling - You really need to open your eyes A LOT! The bankers have committed fiscal treason on international levels, then try make others responsible for their errors. Simple as. The Icelandic PM may be a twit & a liar (politicians are), but at least he's not making the Icelandic people pay for a bill that isn't theirs. If you think it's OK for taxpayers to bail out bankers, maybe you'd like to pay all MY personal utility bills and debts? That what the banks are doing. WAKE UP!!!

[FreddieBambino]

@megalithix

And to answer your question about me wanting to pay your personal utility banks and debts. Thats EXACTLY what YOU want to do for ME.

I of course want to thank foreigners for all the infrastructure, our industrial production was rising faster than China's in the boom, for our great conference hall, our tunnels, dams, vast amount of new houses and apartments, untold amount of factories, and all those taxes you earned for us, all of which we dont need to pay a penny back. Thank you.

[jolliOA]

put on a terroist list lol ar police dont even walk around with gun ore tacers... reasons they dont need to

[jolliOA]

put on a terroist list lol ar police dont even walk around with gun ore tacers...

[saevaroa]

There is not a general will in Iceland to repay especially if we are not required by international law. There is a general will in Iceland to say UK WE WILL SEE YOU IN COURT. ALSO MANY HERE IN ICELAND BELIEVE THAT UK IS RESPONSIBLE AND SHOULD PAY FOR THE DAMAGE THEY HAVE DONE TO ICELAND USING TERRORIST LAW.

[blueridgewv]

So then the "powers that be" triggered an earthquake and volcanic eruption using Tesla technology to punish Iceland and possibly destroy it, which ended up shutting down air traffic in UK and Europe instead.

The timing of all of that was very suspicious, or at least remarkable.

[Hachiroku96]

Keep it up Icelanders.. we the awakes we supportin' you'all arroun the world.. greetings from spain!

[Kjalli]

If the limeys wont their money back they dont have to go far. All the icelandic bankers live in London and have their money hidden in brittish tax havens.

[Madoverlord2007]

HUP HOLLAND HUP Laat de leeuw niet in zijn hempie staan.!!!!

[TheHairyHeart]

Bring down the empire!

I am ashamed my people the danes, didnt do anything to help:(

But proud to see the people of Iceland fight back!

Keep it up!!!

[stevenzgorac]

give us our fuckin scratch back you filthy icelandic fuck.

[anolmec]

you got it back asshole......now you want it twice???

[MentalCrueltyNL]

time to isolate and destroy that worhless rock

[TheDutchDanceEffect]

@MentalCrueltyNL

You are crazy, our goverment sucks ass, were paying monkey-asses for al those muslims, but were letting a european country fall in a economic black-hole, comon something is horribly going wrong here.

[tysoner]

@MentalCrueltyNL im going find out who you are and im going to kill you.

[Jarnmennid]

Our best advokat!

[SuperGamli]

respect to that man!

[barbh1]

Iceland put on terrorist list for refusing to pay extortion to the elite bankers. How absurd. I hope they win.

[diogeneslaertius666]

3:39 look at that smug well-dressed fucker, god I just want to slap the taste out of his mouth!

[diogeneslaertius666]

Also, FUCK CNN

[diogeneslaertius666]

Grimsson is a brave motherfucker, I salute his honesty and guts.