It is of-course inconsiderate to talk much about Natural resources as these are dispensable and thus of no further value. Investors however, not to mention foreign investors are something else, without them we could just lie down and die. Finally but not least the magical growth.
Growth proves that the earth is flat and that the earth is the center of the universe.
Corporations are so eager to grow, preferably above 20%, that, they are willing to socialize their “externalities” to the public at large. The whole formula is actually: Grow like crazy, bad loans – high yields, extraordinary leverage, and NO meaningful loss reserves.
Countries that can not provide the Multinational corporations with growth, i.e. natural resources, slave labour, and no taxation are quite useless.
“The cycle supporting a permanent US war economy appears to be almost over. Once the dollar cannot flood central banks and no one buys US treasury bonds, the American global military empire collapses. The impact on daily living for the US population could be severe.”
“The United States tells debtor economies to sell off their public utilities and natural resources, raise their interest rates and increase taxes while gutting their social safety nets to squeeze out money to pay creditors. ”
“When Mr. Geithner put on his serious face and told an audience at Peking University in early June that he believed in a “strong dollar” and China’s US investments therefore were safe and sound, he was greeted with derisive laughter.”
It may be helpful if “Geithner can show us some arithmetic,” said Yu. “We need to know how the U.S. government can achieve this objective.”
Referring to the Federal Reserve “as the world’s biggest junk investor,” and to Chairman Ben S. Bernanke as “helicopter Ben,” Yu said the Fed has dropped “tons of money from the sky since the subprime crisis.”
If the IMF, the World Bank and the WTO are but drawers in the US Treasury, what does that mean for an Icelandic Finance Minister of the left freaking kind who pusses their neocon economic theories (confirmed by a typewriter) culminating the absurdity by speaking at Goldman Sachs meat. Are we insane or just simple farm-folks.
Chris Hedges, The American Empire Is Bankrupt
Michael Hudson, De-Dollarization: The Yekaterinburg Turning Point
Fred Weir, Iran and Russia Nip at US Global Dominance
Lyubov Pronina, Medvedev Shows Off Sample Coin of New ‘World Currency’ at G-8
Edmund Conway, UN Wants New Global Currency to Replace Dollar
Jose Arturo Cardenas, Latin American Leftists Tackle Dollar with New Currency
After the meltdown, we have been living the many aspects of perception management. Powerful and moneyed interests have tried to gain advantage in the war over our hearts, minds and natural resources.
The propaganda tools have been used to: predetermine, select, shape, control and restrict by the selection of topics, distribution of concerns, emphasis, framing of issues, filtering of information and bounding of the debate.
And as the “governors” know, they have nothing to support them but opinion (Hume)
The media has been preoccupied with glorifying economic growth, foreign investment and assured job creation on one hand and celebrities in rehab, political punditry and a mauling at the zoo on the other.
To counter (punch) this, a handful of people have more than made-up for this media brilliance, and thanks to them we are 85% ahead, with 10% brain dead, and 5% willing to sell their kidneys.
At the same time, the opinion industry tells us that the fears, prejudices, and whims of the rational voter wants to return power to the same people that got us into this mess.
Capacent Gallup: 85 percent of the population is opposed to foreign entities being able to buy Icelandic Natural Resources. (Gallup.pdf)
” These are the times that try men’s souls. The summer soldier and the sunshine patriot will, in this crisis, shrink from the service of their country; but he that stands it now, deserves the love and thanks of man and woman. ” – Thomas Paine
” MEMBERS OF THE PARLIAMENT! WE ICELANDERS ASK YOU FOR A
TRANSPARENT, OPEN DISCUSSION AND RECONSIDERATION
CONCERNING THE SELLING OF THE ACCESS TO OUR NATURAL
In two weeks Magma Energy Sweden AB could become the biggest shareholder of HS Orka. The company would then have access to some of our most important natural resources for the next 65 years, with an optional extension for another 65 years. 130 years! Is this in accordance with the laws that state only the Icelandic government should have the right to harness and govern the natural resources of Iceland?
Shouldn’t we ask for an investigation of this deal and get a report on the business exchange concerning our resources, as we got a report on the banks?
Shouldn’t the nation be able to decide for itself if it is willing to sell off it’s natural resources, by means of a law change to enable a national referendum?
One of the IMF’s suggestions is that Iceland should open up access to it’s natural resources to foreigners. According to the letter of intent signed by the government last April, it seems that those suggestions will be followed. Are we thus going to use our nature in this way to pay off the Icesave-debts of those few Icelandic venture capitalists?
Allegedly the Magma deal is about the benefits of foreign investment. How does that compute with the fact that 70% of the purchase price is financed with a local bullet-loan with collateral in the shares?
Is there anything that guarantees jobs will be created in Iceland through this deal?
In the future, water will probably be the most valuable resource in the world. Will the deal with Magma Energy possibly set a legal precedent, and be used in the future to enforce the sale of more natural resources?
What will our grandchildren think of the deals we’re making now? “
Open Letter to the Members of Parliament (full text)
Petition to the Government
” I urge the authorities to stop the sale of HS Orka and for Alþingi to hold a national referendum on the ownership and the utilisation of our energy resources. ”
It’s Oh (Not) So Quiet. More than 16,000 people have already signed.
Mapping this onto the UK and US census, this would mean more than 3.3 and 16 million signatures respectively.
Public Services International -Privatisation in the energy sector (pdf)
Freedom of establishment for companies and abuse of rights in EU/EEA law – Energy policy
Oh my God, the holy trinity of “free” market economics: growth, (foreign) investment and job creation (lol) is at risk!
By the way, we are living and paying for a disgraced profession (one of many), bought and payed for by the likes of the current vulture.
What we are seeing now is an “operation” of suppressing the truth and splitting hairs.
” Who owns Magma Energy? Have MPs and Ministers seen and studied the list of shareholders? If not – how dare they sell valuable assets and rights of usage of the Nations natural resources to complete strangers, men without any reference at all? ” – Lara Hanna
The Ministry of Industry Energy and Tourism has been brought to light to have advised foreign investors how too brake Icelandic laws and aided and abetted the transfer of our natural resources to foreign control.
Ministers would resign for lesser crimes in all our neighboring countries, however an Icelandic Social Democratic minister just refuses to respond to the issue.
The Report of the Special Investigation Commission (SIC) documented incredible incompetence in the civil service and negligence in official duties of ministers.
“Great lack of documentation is prevalent in the administration and communications are characterized by informal conversations. Professionalism was thus greatly hampered in government.
There is no doubt that political recruitments are harmful and reduce the credibility of officials.
Narrow legal interpretation prevented work to progress according to the aim of the law which in turn served private interests at the publics expense.
It shows how the prevailing mentality and accepted value systems can be harmful to no lesser degree than direct fraud and scam.
Many politicians neglected their multiple responsibilities and failed in their duties towards the public.”
Nothing has Changed.
Economic growth, foreign investment and job creation is the usual corporate propaganda drivel. Let’s Take the Risk Out of Democracy and hide factual information from the public.
Law no. 1 / 2010, amending Act no. 96/2009, the authorization for the Minister of Finance, on behalf of the Treasury, to guarantee The Depositors’ and Investors’ Guarantee Fund because of depositors and investors from the British and the Dutch states to cover payments to depositors in Landsbanki., Which parliament approved but the president declined confirmation that now hold value. Response options are Yes, they are to take effect, or No, they are to expire.
Multinational corporations covet natural resources, they find weak and/or self-serving governments, offer them massive loans which they will not be able to pay, and when they can’t, they collect by enslaving the respective populations.
Predatory Capitalism has these basic components: Corporations strive to minimize their taxes, they eliminate competition, cut wages and salaries, disregard the environment and sell dangerous or harmful products. And of course they hate any kind and form of regulations.
First the developing world and now we.