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Iceland Was Right, We Were Wrong: The IMF

Articles & Blogs - International Commentary

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For approximately three years; our governments, the banking cabal, and the Corporate Media have assured us that they knew the appropriate approach for fixing the economies that they had previously crippled with their own mismanagement. We were told that the key was to stomp on the Little People with “austerity” in order to continue making full interest payments to the Bond Parasites – at any/all costs.

Following three years of this continuous, uninterrupted failure; Greece has already defaulted on 75% of its debts, and its economy is totally destroyed. The UK, Spain, and Italy are all plummeting downward in suicide-spirals, where the more austerity these sadistic governments inflict upon their own people the worse their debt/deficit problems get. Ireland and Portugal are nearly in the same position.

Now in what may be the greatest economic “mea culpa” in history, we have the media admitting that this government/banking/propaganda-machine Troika has been wrong all along. They have been forced to acknowledge that Iceland’s approach to economic triage was the correct approach right from the beginning.

What was Iceland’s approach? To do the exact opposite of everything the bankers running our own economies told us to do. The bankers (naturally) told us that we needed to bail-out the criminal Big Banks – at taxpayer expense (they were Too Big To Fail). Iceland gave the banksters nothing.

The bankers told us that no amount of suffering (for the Little People) was too great in order to make sure that the Bond Parasites got paid at 100 cents on the dollar. Iceland told the Bond Parasites they would get what was left over, after the people had been taken care of (by their own government).

The bankers told us that our governments “could no longer afford” the same education, health-care and pension systems which our parents had taken for granted. Iceland told the bankers that what the country “could no longer afford” was to continue to be blood-sucked by the worst financial criminals in the history of our species. Now, after 3+ years of this absolute dichotomy in economic policy-making a clear picture has emerged (despite the best efforts of the propaganda machine to hide the Truth).

In typical fashion, the moment that the Corporate Media is forced to admit that it has been serially misinforming us for the past several years; the Revisionists are immediately deployed to rewrite history:

the island’s approach to its rescue led to a “surprisingly” strong recovery, the International Monetary Fund’s mission chief to the country said. [emphasis mine]

In fact, from the moment the Crash of ’08 was orchestrated and our morally-bankrupt governments began executing the plans of the bankers I have written that the only rational strategy was to put People before Parasites. While I wouldn’t expect national policy-makers to take their cues from my own writing, when I wrote out my economic prescriptions for our economies I didn’t base my views on compassion, or simply “doing the right thing.”

Rather, I have consistently argued that it was a matter of simple arithmetic and the most-elementary principles of economics that “the Iceland approach” was the only strategy which could possibly succeed. When Plutarch wrote 2,000 years ago that “an imbalance between rich and poor is the oldest and most fatal ailment of all Republics” he was not parroting socialist dogma (1500 years before the birth of Socialism).

Plutarch was simply expressing the First Principle of economics; something which all of the modern capitalist economists who followed in his footsteps have based their own theories upon. When modern economists produce their own jargon, such as the Marginal Propensity to Consume; it is squarely based upon the wisdom of Plutarch: that an economy will always be healthier with its wealth in the hands of the poor and the Middle Class instead of being hoarded by rich misers (and gamblers).


So when Bloomberg’s Revisionists attempt to convince us that Iceland’s strong (and real) economic recovery was a “surprise”; this could only be true if none of our governments, none of the bankers, and none of the media’s precious “experts” understood the most-elementary principles of arithmetic and economics. Is this the message Bloomberg wants to convey?

What is even more disingenuous here is the congratulatory tone in this exercise in Revisionism, since nothing could be further from the truth. As I detailed in a four-part series one year ago, the campaign of “economic rape” perpetrated against the governments of Europe over the past 2 ½ years (in particular) has been expressly designed to take away “the Iceland option” for Europe’s other governments.

One of the reasons for Iceland being able to escape the choke-hold of the Western banking cabal is that it’s economy (and its people) still retained enough residual prosperity to tough it out -- as the banking cabal tried to strangle Iceland’s economy as retribution for rejecting their Debt Slavery. Thus Austerity has been nothing less than a deliberate campaign to destroy these European economies so that the Slaves would be too economically weak to be able to sever their own choke-holds. Mission accomplished!

One can only assume that neither the Corporate Media nor their Banker Masters would have allowed this clear acknowledgment that Iceland was right and we were wrong to appear within its own pages, unless it felt secure in the knowledge that all the remaining Debt Slaves had been crippled beyond their capacity to ever escape this economic oppression.

Indeed, for evidence of this we need only look to Greece: the one other European nation where there had been “rumblings” (i.e. riots) aimed at toppling the Traitor Government which served the banking cabal. After two elections, the combination of fear and propaganda bullied the long-suffering Greek people into choosing another Traitor Government – which had expressly pledged itself to reinforcing the bonds of economic slavery. When the Slaves vote for slavery, the Slave Masters can afford to gloat.

Here, the purpose of this Bloomberg propaganda was not to praise Iceland’s government (when both the bankers and Corporate Media despise Iceland with all of their considerable malice). Rather, the goal of this disinformation was to manufacture a new Big Lie.

Instead of the Truth: that from Day 1 Iceland’s approach was the only possible strategy which could have succeeded, while our own governments chose a strategy intended to fail; we get the Big Lie. Our Traitor Governments were acting honestly and honourably; and Iceland’s success and our failure was yet another “surprise which no one could have predicted.”

We saw precisely the same Revisionism following the Crash of ’08 itself, where the mainstream media trotted out all their expert-shills to tell us they had been “surprised” by this economic event; while those within the precious metals sector had been predicting precisely such a cataclysm, in ever more-assertive terms, for several years.

The real message here for readers is that when an economic strategy of People before Parasites succeeds that there is nothing the least-bit “surprising” about this. As with all the remainder of the world around us, promoting the health of Parasites is only good for the Parasites themselves.

[Readers are encouraged to join our Community for the lively discussions on our Forum]


Comments (11)Add Comment
Jeff Nielson
written by Jeff Nielson, August 25, 2012
Thank you for the article Jeff...

Thanks for the kind words Arihalli! I couldn't RESTRAIN myself to keep quiet about these things if I wanted to (lol). I'm just glad there are people out there interested enough to read what I have to say. smilies/smiley.gif
written by arihalli, August 25, 2012
Thank you for the article Jeff......and for the time you have given to educate. Your a gem.
Jeff Nielson
written by Jeff Nielson, August 19, 2012
...Where are the changes in failed government policies over the past 25 years. Example: Repeal Nafta bringing back US jobs, re-instateing GlassSegal to breakup the casinos,reign in EPA and other brown shirt regulating buisness that is friendly to jobs (even Stalin & Hitler were more friendly to workers and companies than the DEM-REB single party system in USA. Simplify the tax system so American can fill out their 1040 taxes in minutes, while eliminating all the deduction & Perks for the "Elitist" class, break up all the big monopolies that have been allowed to rise over these 25 years, get a legal system that upholds the people & US Constitution, and not the special interest. Eliminate via repealing all the Fascist and Marxist laws passed by the Uniparty and illegal existing political system. And demanding a free press that goes after crooked politicians, banksters, and crony capitalist instead of being Softball advocates for the existing political system.

Thanks for the comment Paxjds!

In reply to one branch of your remarks, there is NEVER acknowledgement of failure on the part of the Oligarchs (and their oligarchy). Instead, each time something fails (i.e. every one of their rape-the-people economic policies) they simply write a NEW SCRIPT.

This is what we're presently seeing: throwing out the OLD SCRIPT (and assuming the Sheep will instantly forget it) and writing a new one. In the NEW script; our governments previously did their best; Iceland got lucky; and SUDDENLY money-printing no longer causes inflation...despite B.S. Bernanke basing his ENTIRE career on precisely the opposite premise.

As for your other remarks, I certainly noted you using Hitler/Stalin and Marxism/Fascism interchangeably -- and wanted to explicitly point that out to readers. ALL ideologies are just propaganda-fantasies to Herd the Sheep.

The ONE exception to this principle is "fascism", since Fascism is simply a synonym for STEALING. It is the simple equation: Big Government + Big Business = Organized Crime.

All other ideologies are merely theoretical fantasies, used exclusively as PROPAGANDA -- and also as the CAUSE of many of our wars. Ideologies DIVIDE US, and thus they are a primary tool of our Oppressors.
written by paxjds1, August 18, 2012
Now the bankster rumour mill has QE3 in the works and another bailout for GM. Looks like their lighting fires for the Bernake bailout kettle' all on the backs of citizens via more printing and higher inflation.
Where are the changes in failed government policies over the past 25 years. Example: Repeal Nafta bringing back US jobs, re-instateing GlassSegal to breakup the casinos,reign in EPA and other brown shirt regulating buisness that is friendly to jobs (even Stalin & Hitler were more friendly to workers and companies than the DEM-REB single party system in USA. Simplify the tax system so American can fill out their 1040 taxes in minutes, while eliminating all the deduction & Perks for the "Elitist" class, break up all the big monopolies that have been allowed to rise over these 25 years, get a legal system that upholds the people & US Constitution, and not the special interest. Eliminate via repealing all the Fascist and Marxist laws passed by the Uniparty and illegal existing political system. And demanding a free press that goes after crooked politicians, banksters, and crony capitalist instead of being Softball advocates for the existing political system.
Thank you little Iceland, and thank you Jeff for pointing out the Obvious.
Jeff Nielson
written by Jeff Nielson, August 17, 2012
Thanks for the support guys!

As we see these banker-run economies fall apart; as we see all their prior lies discredited; people like myself are now getting LOTS of opportunities for "gotcha" moments.

I (for one) do NOT plan on letting those opportunities slide by... smilies/wink.gif
written by Bigdad06, August 17, 2012
Great article Jeff! This brings to mind Jim Nabor's character, Gomer Pyle's exclamation of his famous catchphrase "Sur-prise, sur-prise, sur-prise! This is precisely why I started doing video's on Youtube about the economic conditions in the markets because the so called "experts" were only experts at one thing. Lying!
written by paxjds, August 16, 2012
Jeff, A great article.
Jeff Nielson
written by Jeff Nielson, August 16, 2012
It's actually scary that the IMF is admitting anything adverse to its own or its masters' interests. Why and why now? Is the ultimate agenda so close to realization that it doesn't matter anymore? In connecting the dots, I see where the DHS, the National Weather Service (WTF), and the Social Security Administration (WTF,WTF) have ordered millions of rounds of hollow point ammunition. I have also read the commentary from Ann Barnhardt and Denninger on the Sentinel appeals court ruling which, essentially, subordinates all of the property rights you think you may have to the banksters, including segregated accounts, bank deposits, IRAs, 401(k)s, and pensions. Obviously, something even more wicked this way comes; whether a known natural disaster (e.g. solar flares or a major earthquake) or a man-made false flag attack. If neither, then the old stand by of a bank holiday to cover for the last great theft. Or maybe I'm just uber paranoid and I'm reading the signs wrong.

Apberusdisvet, my initial reaction was very similar to the "fear reaction" you describe. However as I thought it about it more, I leaned more toward simple expediency: the NEED to "explain" Iceland to the Sheep.

We are about to see all OTHER Western economies take another deep, economic plunge -- while Iceland continues to HEAL from its own economic woes. So lest the Sheep actually NOTICE, and understand that Iceland's route was the ONLY sane path we get more Revisionism.

SUPPOSEDLY Iceland' economic success was just another one of those "surprises" the Liars love to yammer about -- every time something happens which they don't WANT to explain (honestly). smilies/wink.gif
written by apberusdisvet, August 16, 2012
It's actually scary that the IMF is admitting anything adverse to its own or its masters' interests. Why and why now? Is the ultimate agenda so close to realization that it doesn't matter anymore? In connecting the dots, I see where the DHS, the National Weather Service (WTF), and the Social Security Administration (WTF,WTF) have ordered millions of rounds of hollow point ammunition. I have also read the commentary from Ann Barnhardt and Denninger on the Sentinel appeals court ruling which, essentially, subordinates all of the property rights you think you may have to the banksters, including segregated accounts, bank deposits, IRAs, 401(k)s, and pensions. Obviously, something even more wicked this way comes; whether a known natural disaster (e.g. solar flares or a major earthquake) or a man-made false flag attack. If neither, then the old stand by of a bank holiday to cover for the last great theft. Or maybe I'm just uber paranoid and I'm reading the signs wrong.
Jeff Nielson
written by Jeff Nielson, August 15, 2012
Step 1. Use Fear to ensure compliance.
Step 2. Implement "Austerity" to bring them to their knees.
Step 3. Wait for the people to beg for mercy.
STep 4. Foreclose on all remaining assets, thereby killing off any future ability to recover.

Jeanna, for me getting exposed to Naomi Klein's "Shock Doctrine" was a real epiphany -- in that at point I understood that this was all part of a PATTERN which had previously been inflicted on many other economies during the latter part of the 20th century...before being 'imported' to 21st century Western Europe.
written by Jeanna, August 15, 2012
Step 1. Use Fear to ensure compliance.
Step 2. Implement "Austerity" to bring them to their knees.
Step 3. Wait for the people to beg for mercy.
STep 4. Foreclose on all remaining assets, thereby killing off any future ability to recover.

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