Update on news from Iceland.

Most readers know that the government of Iceland initially agreed to the debt load imposed by the bankers, but a near revolt by the people resulted in a repudiation of that debt.

Now, through usage of social media, the people of Iceland are forcing a re-write of their constitution. The overall picture and sequence of events is here: [link to singularityhub.com]

The details in English from two official Icelandic sources: [link to www.stjornlagarad.is] and [link to www.stjornlagarad.is] (second link is the rules of procedure)

One private correspondent wrote that venture capital that previously focused on taking over corporations are now taking over whole countries.

I believe there is a lesson to be learned from the people of Iceland.