Sunday, October 5th, 2008...10:31 am
Stacy Blog: Iceland on verge of collapse as trading partners refuse to take their currency
There is a serious crisis erupting in Iceland:
Iceland is on the brink of collapse. Inflation and interest rates are raging upwards. The krona, Iceland’s currency, is in freefall and is rated just above those of Zimbabwe and Turkmenistan. One of the country’s three independent banks has been nationalised, another is asking customers for money, and the discredited government and officials from the central bank have been huddled behind closed doors for three days with still no sign of a plan. International banks won’t send any more money and supplies of foreign currency are running out.
People talk about whether a new emergency unity government is needed and if the EU would fast-track the country to membership. On Friday the queues at the banks were huge, as people moved savings into the most secure accounts. Yesterday people were buying up supplies of olive oil and pasta after a supermarket spokesman announced on Friday night that they had no means of paying the foreign currency advances needed to import more foodstuffs.
A lot of Icelandic people attacked us for our film, Money Geyser, only in March when it was linked to in the comments section of an article by Ambrose Evans-Pritchard in the Telegraph.
I know I only just linked to it, but it is so important to make sure you watch this film we made 18 months ago:
6 Comments
October 5th, 2008 at 10:55 am
This scenario is what we can expect in the US some day, no? John Williams (from Shadow Stats) thought the time frame for dollar obliteration would be sometime in 2010 to 2012. This nightmare in Iceland should be instructive….
October 5th, 2008 at 12:39 pm
Are you planning a follow up to this or any other films you made?
October 5th, 2008 at 4:00 pm
Dear Mr Keiser and Ms Herbert,
After becoming an avid listener to your output for the past six months to a year (I wish it had been much, much longer), and after some brief email contact a little while ago, I have taken the liberty of creating a little Facebook group with some links on the current crisis and solutions to it. Please feel free to join it, mention it, invite people to it, add information to it, etc. etc:
Resources on the current financial and economic crisis and solutions to it:
http://www.facebook.com/group.php?gid=29870128588
Best wishes,
Matthew Edwards
Londinium
tetsudoh@gmail.com
October 5th, 2008 at 8:59 pm
Man, I’ll tell ya, I’m waiting for this to happen here in the US. There was a guy on the radio show that Max was just on that was crying because he fully understands what this all means here in the US.
I understand this down to the crap paper this whole mess is written on. Yesterday, after the guy on CNN freaked right the hell out, I finally explained everything to my husband. From the worthless paper to the credit markets.
His reaction was this: You know people who are in shock that stare off into the distance, and nothing really brings them back? He was like that all day yesterday.
I finally smacked him one (nicely of course) and told him, NOW IS NOT THE TIME FOR SHOCK, now is the time to take further action to protect ourselves as much as we can. He is still staring off into space. Once you fully understand I guess it is pretty shocking.
Luckily my shock came about two years ago after finding Max and Stacy. So I’m over that and am very busy….
Here is the guy FREAKING OUT on CNN. I couldn’t help but laugh at the helpless little man.
http://www.youtube.com/watch?v=LnYmB94QAnU This is part one
http://www.youtube.com/watch?v=5q60RNzrZg4 This is part two. I’m really surprised CNN didn’t kick his butt off or go to a commercial.
Kidding…staying here to help get my country back, if I don’t end up starving (from hyperinflation) doing so.
Thanks Max and Stacy! Hey, gotta extra room over there we can rent.
October 6th, 2008 at 3:27 am
Thanks for the clips Trish.
That little squirt barely gave the other guy room to talk, which is a shame as he could have learned something.
He sounded like a Woody Allen wannabe too.
October 8th, 2008 at 3:12 am
Dear Max,
Most of all, Dear Sir, watch your back, please!
I can’t say how much I have enjoyed your recent observations regarding the international financial crime scene: i INTEND TO POPULARISE YOUR WORK IN CHINA, because it is important that the world’s largest ‘Sovereign’ population should become aware of the ‘Economic’ Facts of LIFE ENTAILED in “I want the Earth Plus 5%” Fiat Currency, and “The World’s Reserve Currency” Scams. Never Fear: China’s Best & Brightest Shall Be Informed
And Remedial Action Will Follow.
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