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Fighting the Economic Crisis

Updated on April 21, 2012

Iceland

Standing Up for Itself
Standing Up for Itself | Source

Iceland

Some say that Iceland is the true originator of democracy.

In the days when the Vikings first settled in Iceland, they would vote on who would be their leaders. This then was the beginning of a true democracy.

Once again, today it would appear that Iceland is showing the World the way to go.

Iceland was faced with extreme debts, just like Greece is today. The Icelanders were told that they would have to bail out the banks. The people demanded a referendum, the results of which showed that the people were strongly against any kind of bank bailout.

The people were warned that if they did not, then they could face becoming an international pariah, much like Cuba. However, the people did not falter and the banks were not paid.

Yes, the people faced hard times but they endured it until recently when their economy started to improve, without a bank bailout.

Now it is being reported that the majority of the people are now having their mortgages wiped clean, other debts too.

It is not now the people that are feeling the hardship; it is the bankers, as many of them are now being charged with crimes. Some politicians are also facing charges.

Bank Bailouts

Weren't the Answer
Weren't the Answer | Source

The World

Who was it that told the people of the United States that a bailout was the only answer?

Who was it that told the Europeans that a bailout was the only answer?

Who, in turn was it that convinced the Greek government not to have a referendum?

The answer to all these questions is: the politicians and bankers.

In this economic crisis, I do not see the politicians and bankers suffering. I only see the people suffering, why is this?

This is because they suckered the people into believing that a bailout was the right thing to do, it was, for the politicians and bankers, they got their money [which they had lost] and the people were left to pick up the tab, on top of their already stifling debts.

Why is it that if the economy is so bad that the banks are losing money, that the bankers are still rich and getting richer?

The bankers will tell you that their money comes from their salaries which should have nothing to do with the banks money; really. Isn’t it the rest of the workers hard earned cash that the bank is gambling with, why should they be an exception especial as it is supposed to be them that are controlling the banks activities?

Change

The bankers take risks and lose the peoples money. Never mind, they say, give us some more and we will make it back.

From the government money, first they take their salaries then risk the rest. Yes, they did do better and in most cases were able to pay back the government but that was not the deal.

The deal was that with a government bail out, they would be able to lift the economy. I have not seen that.

NOW, they say there is nothing they can do. They blame it on Europe, China, and Cuba, the Pope or anything else that comes to mind. Why did they not say that before they got their money?

The bankers get us into a mess and who do the politicians ask how to get us out of it? They ask the bankers.

What do the bankers tell the politicians? Give the bankers more money.

When the bankers got their money was the mess cleared up? No.

Have any bankers or politicians apologized to the people? No.

Economy

It is not that the economy cannot be fixed; it is just that it cannot be fixed leaving the same elitists at the top.

In order for the economy to change, the system has to change but if the system changes, then the rich elitists will no longer be guaranteed their places at the top and that they cannot have.

The politicians are working with the wealthy to ensure that the system does not change; it would not be in their interests.

The people are not considered.

The people are not consulted.

The people do not count.

It is time that the World once again took their lead from Iceland and insisted that there be referendums on whether or not they still have trust in their systems. If not: change them.

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    • diogenes profile image

      diogenes 

      6 years ago from UK and Mexico

      Banker is spelled with a "W" here. They are scum.

      Iceland's banks owed billions to foreign depositors which is why their government didn't bail them out I suspect.

      When I am king, i'll shoot the lot of them

      Bob

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