*** Iceland free of debt and no financial crisis -- they allowed the banks to FAIL ***

Iceland’s President Olafur R. Grimsson said his country is better off than Ireland thanks to the government’s decision to allow the banks to fail two years ago and because the krona could be devalued.

“The difference is that in Iceland we allowed the banks to fail,” Grimsson said in an interview with Bloomberg Television’s Mark Barton today. “These were private banks and we didn’t pump money into them in order to keep them going; the state did not shoulder the responsibility of the failed private banks.”


[link to blacklistednews.com]



Look people, there's a lesson here. The banks and too-big-to-fail businesses because insolvent thru open criminal activity. The only reason they are being bailed out is because they are so intertwined in the politics of many nations.

This is a artificially manufactured crisis designed to shift the wealth from the lower and middle class to the elite. Are we going to let them win?