Tag Archives: iceland

Iceland citizens to get paid from sale of bank

Iceland flag bankers bank

First, Iceland jailed its crooked bankers for their direct involvement in the financial crisis of 2008. Now, every Icelander will receive a payout for the sale of one of its three largest banks, Íslandsbanki. If Finance Minister Bjarni Benediktsson has his way — and he likely will — Icelanders will be paid kr …

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Iceland jails 26 bankers for a combined 74 years in prison

Iceland arrest the bankers jail

In a move that would make many capitalists’ head explode if it ever happened here, Iceland just sentenced their 26th banker to prison for their part in the 2008 financial collapse. In two separate Icelandic Supreme Court and Reykjavik District Court rulings, five top bankers from Landsbankinn and Kaupping — the two largest banks …

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Iceland to remove power from banks to steal money

Iceland banks Frosti Sigurjonsson

Iceland‘s government is considering a revolutionary monetary proposal – removing the power of commercial banks to create money and handing it to the central bank. The proposal, which would be a turnaround in the history of modern finance, was part of a report written by a lawmaker from the ruling …

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Iceland drops bid to join EU


Iceland has dropped its bid to join the European Union, the Foreign Ministry in Reykjavik says. The announcement follows pledges made by the country’s euro-skeptic government since winning the 2013 election. Gunnar Bragi Sveinsson, the Icelandic foreign minister, said in a statement that he had informed Latvia, the current EU …

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Former bank CEO jailed in Iceland for market manipulation

Iceland Landsbanki bank

Sigurjón Þ. Árnason, former CEO of Landsbanki, was sentenced to 12 months in prison by Reykjavík District Court earlier this morning for market manipulation between November 1, 2007 and October 3, 2008. Nine months of the sentence are suspended for two years, visir.is reports. The period which Sigurjón was held in police …

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Iceland sticks it to international bankers and writes off massive mortgage debt


Iceland’s government has announced that it will be writing off up to 24,000 euros ($32,600) of every household’s mortgage, fulfilling its election promise, despite overwhelming criticism from international financial institutions. The measure was introduced by the country’s prime minister, Sigmundur David Gunnlaugsson, the leader of the Progressive Party which won …

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Snowden seeks asylum in Iceland

Icelandic flag

Iceland has been informally contacted by an intermediary who stated that NSA leaker, former CIA contractor Edward Snowden, wants asylum in the Nordic island-state, Reuters reports. The difficulty though is that he is not in the country. WikiLeaks spokesman Kristinn Hrafnsson wrote in Icelandic daily Frettabladid that a middleman had …

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Iceland denies aid to FBI in WikiLeaks investigation

Wikileaks logo

Iceland refused to cooperate with an FBI investigation into WikiLeaks two years ago. The Icelandic Interior Minister said he ordered police to cease contact with the FBI, and made it clear their presence was not “well-seen” in Iceland. Interior Minister Ogmundur Jonasson informed the AP of his displeasure upon discovering …

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Only 3 minutes worth listening to from World Economic Forum 2013

World Economic Forum Davos

“Why do we consider banks to be like holy churches?” is the rhetorical question that Iceland’s President Olafur Ragnar Grimsson asks (and answers) in this truly epic three minutes of truthiness from the farce that is the World Economic Forum in Davos. Amid a week of back-slapping and self-congratulatory party-outdoing, as John …

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Iceland: a silver bullet for the world economic crisis

arrest the bankers

Obama is in Mexico for yet another G20 meeting of the international socialist politburo.  We are told the discussions at the meeting are centered on theEuropean economic crisis. The United States government is set to spend about $2.4 trillion this year.  The mainstream propagandists are telling us that if Spain and Greece fold on …

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