Law

Odious Debt

End_icesave

The Banking Cartel’s intent of privatizing the profit and nationalizing the debt is void.
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28 January 2013
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“199 In any event, the defendant submits, it is unclear whether the transfer of domestic deposits to the new bank led to a better position of the depositors holding such accounts. These account holders were subject to strict capital controls, and were unable to convert their (severely depreciating) Icelandic krónur into any other currency. By contrast, the priority claimants in the Landsbanki winding up now stand to be fully reimbursed in a fully convertible currency.”
“Money exists not by nature but by law.” ~  Aristotle

Playing the Masses

 

“Fearful people are more dependent, more easily manipulated and controlled, more susceptible to deceptively simple, strong, tough measures and hard-line postures. … They may accept and even welcome repression if it promises to relieve their insecurities.” -George Gerbner

“Nothing to Tell but a lot to Sell”:

Occasionally programs like “The Mean World Syndrome” slip under the cultivation radar, interrupting our daily feed of glorified violence-pornography.

Giving up our money, freedoms and civil-rights in return for “safety” is in everyones interest, – right? Segregation from perceived danger and each other in gated communities is the optimal token of success?

Let the security services, preferably private, military, police, prison industry, lawyers, and strong political leaders take care of the problem?

The Armed Madhouse does have a dire need for enemies, preferably those who can’t fight back, to wage its endless and profitable wars.

George Gerbner
The Man Who Counts the Killing
Alex Carey
Taking the Risk Out of Democracy
Edward Bernays
The Spectre of Freud’s Nephew
mediaed.org
Who Owns the Media?
Arms industry
Selling the wars
Buying the War
Manufacturing Consent
Synthetically manufactured fear

Gross negligence

Is Negligence a Subjective Evaluation?

“The accused is in this matter convicted for having with gross negligence failed to hold cabinet meetings on important administrative matters as prescribed in Article 17 of the Constitution, although he must have been clear of the danger, which loomed over the banking system and thus to state security, as specified above, with the consequence that those issues were not discussed at cabinet level”

“The conduct of the accused to fail to comply to the instructions of Article 17. in the Constitution to hold cabinet meetings on crucial policy issues, described above, was not only a breach of form, but it contributed to, that, on ministerial level no political strategy was adopted to deal with the complex problems that the accused had to be aware of in February, 2008. If such a policy had been formulated, and it followed in an orderly manner, including the Central Bank and Financial Supervisory Authority, it can be argued that it was feasible to reduce the damage left by the fall of the banks in October 2008. Furthermore, it is likely that the government had then been better prepared to evaluate the request from Glitnir bank for financial suport at the end of September 2008 such as to enable resolution to the problems of that bank in a more judicious manner than was the case. ”

“Accused, Geir Hilmar Haarde, is not rendered punishment in this case.”

National Court Judgment (IS – pdf)

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The benefits from disconnecting the government (Win-win). In early 2008 insiders had ample opportunity to run with their money. No formal input was from other ministers (finance, banking etc), – thus other ministers “escaped” responsibility.

There is still no word on the reserve that went missing.
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Dido – Thank You

The Billion Dollar Gram   (figures can be hard, 140 Northern Rock’s ?)
With Liberty and Justice for Some: How the Law Is Used to Destroy Equality and Protect the Powerful

Much needed:
Full Fact
FactCheck.org
Straight Statistics

Trial before the High Court of Impeachment

Halldór 13.03.2012

d.1
Geir Hilmar Haarde Prime Minister (15 June 2006 – 1 February 2009)

The witness list:
d.2
Björgvin G. Sigurðsson, Ex Minister of Business Affairs
Arnór Sighvatsson, Deputy Governor of the Central Bank
Davíð Oddsson, Ex Governor of the Central Bank
d.3
Ingimundur Friðriksson, Ex Governor of the Central Bank
Baldur Guðlaugsson, Ex Permanent Secretary, Ministry of Finance*
Bolli Þór Bollason, Ex Permanent Secretary, Prime Minister’s Office
Áslaug Árnadóttir, Ex Permanent Secretary, Ministry of Business Affairs
Jón Sigurðsson, Ex Board of Directors, Financial Supervisory Authority (FME)
Jón Þ. Sigurgeirsson, Director of International Department, Central Bank
d.4
Jón Þór Sturluson, Ex Assistant to the Minister of Business Affairs
Jónas Fr. Jónsson, Ex CEO of the Financial Supervisory Authority (FME)
Hreiðar Már Sigurðsson, Ex CEO of Kaupthing Bank
Guðjón Rúnarsson, Managing Director Icelandic Financial Services Association
Rúnar Guðmundsson, Head of Insurance Market FME
Þorsteinn Már Baldvinsson, Ex Chairman of the Board of Glitnir Bank
Jónína S. Lárusdóttir, Ex Permanent Secretary, Ministry of Business Affairs
d.5
Sigurdur Sturla Pálsson, Director of the International and Market Operations Department of the Central Bank
Tryggvi Þór Herbertsson, Ex Economic Advisor to the Prime Minister (and coauthor with Mishkin)
Sigurdur Sturla Pálsson, Director of the International and Market Operations Department of the Central Bank
Tryggvi Þór Herbertsson Ex Economic Advisor to the Prime Minister (and coauthor with Mishkin)
Vilhelm Már Þorsteinsson, Ex Head of Corporate Banking Glitnir Bank
Heimir Haraldsson, Resolution Committee of Glitnir Bank
Jóhannes Rúnar Jóhannsson, Resolution Committee of Kaupþing Bank.
Jón Guðni Ómarsson, Ex Chief Financial Officer Glitnir Bank
Kristján Óskarsson, Resolution Committee of Glitnir Bank
Lárentsínus Kristjánsson, Resolution Committee of Landsbanki Bank
Vignir Rafn Gíslason, Certified Accountant Price Waterhouse Coopers
Kristján Andri Stefánsson, Ex head of department, Prime Minister’s Office
Sylvía Kristín Ólafsdóttir, Ex head of contingency planning, Central Bank
Ossur Skarphedinsson, Ex Minister of Industry
Johanna Sigurdardottir, Ex Minister of Social Affairs
d.6
Ingibjörg Sólrún Gísladóttir, Ex Minister of Foreign Affairs
Sigurður Einarsson, Ex Chairman of the board, Kaupthing Bank
Lárus Welding, Ex CEO Glitnir Bank
Stefán Svavarsson, Chief accountant Central Bank (CBI) and member of the board, Financial Supervisory Authority (FME)
Halldór J. Kristánsson, Ex CEO Landsbanki Bank
Sigurjón Þ. Árnason, Ex CEO Landsbanki Bank
Björgólfur Guðmundsson,. Ex chairman of the board, Landsbanki Bank
d.7
Tryggvi Palsson, Ex head of financial stability, Central Bank (CBI)
Jon Thorsteinn Oddleifsson, Ex head of treasury, Landsbanki Bank
Steingrimur Sigfusson, member of Althing
Arni M Mathiesen, Ex Minister of Finance
Geir Hilmar Haarde Ex Prime Minister
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The Special Investigation Commission members and the related Parliamentary Committee members were struck from the witness list at a days notice?

* The Ex Permanent Secretary in the Ministry of Finance has now started his 2 year jail sentence for insider trading and misconduct in public office.

Althingi´s prosecutor

The SIC Report

It will be interesting to see if the court comes to the same conclution as did The Financial Crisis Inquiry Commission in the US — that this crisis was avoidable — the result of human actions, inactions, and misjudgments. Warnings were ignored. “The greatest tragedy would be to accept the refrain that no one could have seen this coming and thus nothing could have been done. If we accept this notion, it will happen again.”

d.1, a pitiful picture is emerging of a Commanding Officer lacking in leadership, initiative, command, and imagination. As an Office Manager he is fine, – as a Commander he is everything but.

d.2, state officials are in unison that they lost control to a Hydra-Headed Monster no human could be expected to contest. Not that they didn’t try.

d.3, nothing could be done after 2005 – 3 whole years of did not, could not. Learned helplessness is a technical term which comes to mind.

(From the Blogosphere – Whats similar between the National Theater and the Culture House? Sure – They’ve both been showing Les Misérables)

d.4, entirely absent in this amiable family gathering are penetrating questions, such as what happened to the entire foreign-exchange reserve in the minutes before the crash?

d.5, silent lambs, pack of wolves, and the Court clerk a sleep.

d.6, did everything right, nothing wrong. Conflicting testimony? Guardians of special-, banking-, and/or public interest? – Take your pick.

d.7, the grand finale, – shit happens – multiplied by 140 Northern Rock’s. In the Culture House the twin masks of the National Theater were replaced by The Mask of Sanity.

d.8,  State prosecutor: Numerous warning signs and a mounting threat to the state, but did everything at the precedence of the banks.

d.9,  Defense:  All points in the prosecution evidence are deficient. The responsibility was with the Central bank.

What causes suspension of judgment on a mass scale? Religious myths? Economic cults?
It is unproven, that the priesthood of this particular sect did anything but appease their god. Most of them are still true believers. They have not found that their view of the world, their beloved ideology, was not right. That it was and is not working. Now they are eager to repeat it – only better, truer – convinced of a better outcome.

In their weakness our best and the brightest committed an heinous crime, they reminded us of who, what, and how we are, of our own perpetual escape from freedom.

I did not know, I could not do, it’s their fault
????This Time Is Different: Eight Centuries of Financial Folly
ICB’s Recommendations

Valorizeing Plundering

Is the SEC Covering Up Wall Street Crimes?

Market Manipulation, Insider Trading, Financial Fraud, – sounds familiar – & what about our very own Special Prosecutor? – Two Years AND?

If You Redistribute All of the Wealth Upwards, the Free Market Capitalist System Self-Destructs. – Nouriel Roubini

Mostly Harmful

A new constitution has been drafted.

This draft would not have passed in the 18th century.

Platitudes about elected ‘representatives’ only being bound by their ‘consciousness’ is a contradiction in terms.

Delaying referendums up to a year, is a pathetic attempt to separate power from the people.

No attempt is made to curb the powers which are the dictates of modern societies, where governments, parliaments, and courts are but office-workers for transnational money powers.

E.g. article 58 is just dandy, It prevents the nation from defending it self against financial warfare.

This is all the more peculiar as it was the workings of these monetary powers that instigated this work.
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The first words of our constitution are, –

“Ísland er lýðveldi…” – “Iceland is a republic” which means a state in which the supreme power rests in the body of its citizens.

The miserable sods that concocted the current text have failed to understand this.
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…
Finally, when the State, on the eve of ruin, maintains only a vain, illusory and formal existence, when in every heart the social bond is broken, and the meanest interest brazenly lays hold of the sacred name of “public good,” the general will becomes mute: all men, guided by secret motives, no more give their views as citizens than if the State had never been; and iniquitous decrees directed solely to private interest get passed under the name of laws.
…
The Social Contract (Book 4) Jean-Jacques Rousseau, 1712–1778

In the 21st century with it’s non-human global entities, mega corporations and their financial instruments, it is not apparent that 204 (?) magnificent constitutions are of much use in times when replacing of governments and the destruction of sovereign states is but an idle pastime.
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Already Forgotten
To Enrich and Privilege the Designers
Save the Gambling Bankers
Eurozone debt crisis
The Steady Drip
Tall fair and blond (32)
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What A Wonderful World

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