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Month: February 2010

For the Love of Democracy

January 6, 2010 I wrote: The “political class” is franticly trying to abort the referendum in Iceland because of the dangerous precedence it would set for other plebeians, and God save our “principal men” from Democracy.

This is now confirmed in a classified letter from the US Embassy in Reykjavik published on Wikileaks. It is easy to demonize the president and forget about the 56,089 Icelanders (23,3% of Icelandic voters), that petitioned him to refer the law to a national referendum. Will our “principal men” succeed in breaking the Constitution in these remaining days?

May the hand wither that works against the inherent rights of the people.

New form WikiLeaks: UK-NL “profiteering” from deal. (pdf)



1. (C) Summary. CDA met with Ministry of Foreign Affairs Permanent Secretary Einar Gunnarsson and Political Advisor Kristjan Guy Burgess January 12 to discuss Icesave. After presenting a gloomy picture of Iceland’s future, the two officials asked for U.S. support. They said that public comments of support from the U.S. or assistance in getting the issue on the IMF agenda would be very much appreciated. They further said that they did not want to see the matter go to a national referendum and that they were exploring other options for resolving the issue. The British Ambassador told CDA separately that he, as well as the Ministry of Finance, were also looking at options that would forestall a referendum. End Summary.


Financial Terrorism

The speculators are still in control. Max Keiser stated that in 2006 Bankers from Lehman Brothers and Bear Stearns were planning to destroy the Icelandic financial system. He went on to say that the speculators had an agenda to bankrupt all the major economies of the world and to pocket the profits (hedge funds plot to cash in on fall of the euro).

The Keiser, estimated that the value of the ‘real’ world economy was $60 trillion and the value of the ‘derived’ or ‘speculative’ market was grater than $700 trillion, which is roughly the same ratio 1:11 to our own madness.

The successor to Orwell’s Newspeak, the Derivatives Acronyms is the new language of the private banking cartel, sounds something like this. “The FAST FOX SAFEly LEAPS over CHAPS with CHIPS on SWINGS but will DIE and ROT to the ECHO of the buddhist OM.” Understood all that? Or more importantly does your ‘representative’ or your Government?

Conspiracy theory or Bernanke’s contempt for US Congress

Stephen Zarlenga, Director of The American Monetary Institute writes “Over time, whoever controls the money system controls the nation.” – Presenting the American Monetary Act (as of July 18, 2009) (pdf)

Ellen Brown wrote It’s the Derivatives, Stupid! ““The point everyone misses,” wrote economist Robert Chapman a decade ago, “is that buying derivatives is not investing. It is gambling, insurance and high stakes bookmaking. Derivatives create nothing.” They not only create nothing, but they serve to enrich non-producers at the expense of the people who do create real goods and services. In congressional hearings in the early 1990s, derivatives trading was challenged as being an illegal form of gambling. But the practice was legitimized by Fed Chairman Alan Greenspan, who not only lent legal and regulatory support to the trade but actively promoted derivatives as a way to improve “risk management.” Partly, this was to boost the flagging profits of the banks; and at the larger banks and dealers, it worked. But the cost was an increase in risk to the financial system as a whole.”

” The few who understand the system will either be so interested in its profits or so dependent upon its favors that there will be no opposition from that class while, on the other hand, the great body of people, mentally incapable of comprehending . . . will bear its burdens without complaint.”

Rothschild Brothers of London, 1863

” I see in the near future a crisis approaching that unnerves me and causes me to tremble for the safety of my country. Corporations have been enthroned, an era of corruption in high places will follow, and the money power of the country will endeavor to prolong its reign by working upon the prejudices of the people until the wealth is aggregated in the hands of a few and the Republic is destroyed.”

Abraham Lincoln (attributed)

“…commands are dispatched from a computer terminal, or a cell phone. Relevant data are instantly relayed to major financial markets – often resulting in immediate disruptions in the functioning of national economies. “Financial warfare” also applies complex speculative instruments including the gamut of derivative trade, forward foreign exchange transactions, currency options, hedge funds, index funds, etc. Speculative instruments have been used with the ultimate purpose of capturing financial wealth and acquiring control over productive assets.”

Michel Chossudovsky

” “Sustainability” has to mean “for a long time,” where “long” means compared to a human lifetime. The basic exponential arithmetic shows that growth of numbers of real things can’t continue for long times. This simple observation leads to the First Law of Sustainability. “Growth of populations and / or growth in rates of consumption of resources, cannot be sustained.” It follows that the term “sustainable growth” is an oxymoron. It remains a mystery as to why all the ardent advocates of sustainability talk about everything except the First Law of Sustainability.”

Albert A. Bartlett

“No money changer who may hereafter fail, and none who has recently or in times passed failed, shall again keep a bank or hold any office under the crown. Any such shall be proclaimed bankrupt and disgraced by public crier throughout the city and also in the place he had his office. Until he shall have satisfied all demands, he shall be detained on a diet of bread and water.”

Barcelona banking laws passed in 1300

Keiser Report ?14: Markets! Finance! Scandal!
Derivative (finance)
Janet Tavakoli
Web of Debt – Ellen Brown – 1 of 5
Web of Debt: The Shocking Truth About Our Money System and How We Can Break Free by Ellen Hodgson Brown
Brooksley Born’s Nightmare Comes True
Al Bartlett: In Growth We Trust (the simple math 1 to 8 ) and The Essential Exponential!
Stephen Zarlenga: The Lost Science of Money
Carroll Quigley: Tragedy and Hope .(pdf 5.43MB )
ATTAC: ..Let’s shut down the financial casino (pdf)
Sponsor an Executive 🙂
A Pre-referendum documentary [John Zufelt]

Skuggathing (Shadow Parliament)

Skuggathing or Shadow Parliament is a social networking portal based on Open Active Democracy a system which in turn is a merger between: NationBuilder and Open Direct Democracy.

Bills and discussions are collected from Alþingi (Parliament) and added onto the web

Everyone can participate in the discussions, vote for or against arguments and add their own”bills” to the Skuggathing (Shadow Parliament).

In a TV interview the authors said that the Skuggathing (Shadow Parliament) portal came out of frustration with the lack of opurtunity ordinary people had to participate in the discussions after the Crash, in a way other social networking portals did not provide.

+ Is something good coming out of the Crash?
– “Our inventions are wont to be pretty toys, which distract our attention from serious things. They are but improved means to an unimproved end.” Henry David Thoreau

Twelve Nominees for Bankrupting a Nation


After news of the “Truth Commission” sending twelve letters to people indicated in the “Truth Report”, the press is guessing the price categories to be:


For Gross negligence in:


  • The Prime Minister
  • The Foreign Minister
  • The Finance Minister
  • The Minister of Economic Affairs

Civil Service:

  • The Permanent Secretary for The Prime Minister’s Office
  • The Permanent Secretary for The Ministry of Finance
  • The Permanent Secretary for The Ministry of Economic Affairs
  • . . . . . . . Acting Secretary for The Ministry of Economic Affairs

Central Banking:

  • The three Central Bank Managers

Financial Supervisory:

  • The Director General

All but one have now been replaced, but according to the rhetoric, “people failed, nothing wrong with the policy” ?

The “Truth or Black Report” is due at the end of the month, we will then see who gets the actual ‘price’.

Plunder: The Crime Of Our Time

“I used to think of Wall Street as a
financial center.
I now think of it as a crime scene.”

– Filmmaker Danny Schechter, Plunder (2009)

“When plunder becomes a way of life for a group of men,
they create for themselves in the course of time,
a legal system that authorizes it,
and a moral code that glorifies it.”

– Political economist Frederic Bastiat, The Law (1850)

Plunder: The Crime Of Our Time

Financial Crime: Did white collar crime and fraud trigger the meltdown?
Above the law? Thinking Allowed investigates white collar crime
Suite Violence: Why managers murder and corporations kill
Robin Hood (Toibin) Tax

Prejudicial European Justice?

Dr. M. Elvira Méndez-Pinedo writes: “Whatever the reason or the economic or political arguments, it can be observed now that this lacuna or gap in the EEA Agreement, together with the legal uncertainties of EU banking and financial law, has been extremely prejudicial for Iceland. Icelandic citizens do not have access to justice to the ECJ either. In EU law, any country could start an infringement case or simply take the issue of the interpretation of the State liability deriving from Directive 94/19/EC and the principle of non-discrimination before the ECJ. Iceland, on the other hand, seems to have accepted the principle of State liability and nationalisation of private debt of banking entities abroad without being entitled in the subsequent Icesave agreements to proper judicial and independent review of its legal arguments.”

Icesave – Iceland. The Icesave agreements and other national measures in response of the financial crisis: Revisiting the principles of State liability, State aid and non-discrimination in European law

Dr. Gunnar Tomasson (The Gang of 8 ) refers to “Odious Debt”: „In international law, odious debt is a legal theory which holds that the national debt incurred by a regime for purposes that do not serve the best interests of the nation, such as wars of aggression, should not be enforceable. Such debts are thus considered by this doctrine to be personal debts of the regime that incurred them and not debts of the state. In some respects, the concept is analogous to the invalidity of contracts signed under coercion.”

In The Dilemma of Odious Debts; Lee C. Buchheit, G. Mitu Gulati and Robert B. Thompson (pdf) write: “The prospect of yoking innocent generations of citizens to the repayment of any Profligate Debt causes an audible grinding of the moral teeth; the prospect of forcing this result on people who have already been victimized by a corrupt and despotic regime is even more distasteful.”

Riz Khan – Iceland’s future

Ugly Truths and Sweet Lies


Max Keiser on Egill Helgason (1/2)

Max Keiser on Egill Helgason (2/2)

Max Keiser must be somewhere in the vicinity of the truth as many are beside them self with anger over this interview. Wikipedia lists 33 Propaganda Techniques which can be ticked of one by one in this torrent of anger, – from the most unlikely sources
As they say, “Truth is treason in the empire of lies”

Max Keiser interviews Janet Tavakoli

Inside Story – Saving the World in Davos?

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