Monday, December 01, 2008

Collapse of Iceland and who is next?

Have you ever wonder, why on earth Iceland is bankrupt during this global credit crisis? Assert bubble ofcourse (translation greed of Iceland's public/companies).

This could every well be happening for UK and/or Switzerland since these countries are major financial intermediaries with big external debt and both countries currency is outside the major currency blocs, which only means if & when GBP and/or CHF devalue their debts will become more onerous since their debts are denominated in other currencies.

I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered.- Thomas Jefferson @ 1802

No comments: