Iceland Just Found 9 Banksters Guilty in Historic Case

icelandJay Syrmopoulos – On Thursday, Iceland’s Supreme Court found nine bankers guilty of market manipulation, affirming the conviction of the seven defendants found in a June 2015 decision by the Reykjavik District Court, and handing down a guilty verdict to two defendants previously acquitted in district court.

The Supreme Court decision found that “[b]y fully financing share purchases with no other surety than the shares themselves, the bankers were accused of giving a false and misleading impression of demand for Kaupthing shares by means of deception and pretense,” according to the Iceland Monitor.

The bankers were found guilty of crimes relating to deceitfully financing share purchases – essentially the bank lent money for the purchase of the shares while using its own shares as collateral for the loans.

According to a report by Common Dreams:

No punishment has been handed down yet, although sentencing is set to come. The defendants worked at the major international firm Kaupthing Bank until it was taken over by the Icelandic government during the crash. The bank’s former director Hreiðar Már Sigurðsson, who had been sentenced to five and a half years in 2013 in a separate Kaupthing case, had his punishment extended by six months in response to the verdict. Continue reading

Iceland Proves You Don’t Need a Politician or Businessman as President

iceland
A general view shows the city of Reykjavik seen from Hallgrimskirkja church (Reuters/Stoyan Nenov)

Alex Pietrowski – With admiration, many have been observing Iceland’s handling of the banking crisis that jolted the entire world in recent years. Now experiencing a unique economic recovery, the Icelandic public became aware in 2008 that the nation’s private banks had borrowed some $120 billion dollars, ten times the size of Iceland’s economy, creating an economic bubble which forced housing prices to double, and saddled the nation’s people with debt.

While other Western nations initiated bank bailouts in 2008, a popular uprising in Iceland led to a peaceful revolution against corrupt government and banks, and has since become the example for the global movement for liberation from central banking and unaccountable government.

In the duration of five months, the main bank of Iceland was nationalized, government officials were forced to resign, the old government was liquidated, and a new government was put in its place. [Source]

The resolve of Iceland’s people to correct the systemic problems in their government and economy was again demonstrated in 2015 when dozens of high-level financial executives were jailed for their involvement in manipulating Iceland’s financial markets after financial deregulation in 2001.

After Iceland suffered a heavy hit in the 2008-2009 financial crisis, which famously resulted in convictions and jail terms for a number of top banking executives, the IMF now says the country has managed to achieve economic recovery—“without compromising its welfare model,” which includes universal healthcare and education. In fact, Iceland is on track to become the first European country that suffered in the financial meltdown to “surpass its pre-crisis peak of economic output”—essentially proving to the U.S. that bailing out “too big to fail” banks wasn’t the way to go. – Claire Bernish

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Public banking in Europe: Possibilities for Iceland [Video]

Ellen Brown – I’m currently in Switzerland, after presentations on public banking in Reykjavik, Iceland; London, UK; Manchester, UK;  and Cardiff,  Wales. Very interesting and productive trip!

Fundur um samfélagsbanka (Click to view on Youtube)

A February 13th seminar on public banking was sponsored by the Dawn Party in Reykjavik. Below is a youtube video of my power point followed by one by Wolfram Morales of the German Sparkassen group. (English begins at 12’35”.)

Iceland is a beautiful country with charming people. They face daunting challenges but have been bold in standing up to the banks, and the spirit is there for a true revolution in banking.

Ellen Brown is a Guest Contributor for Shift Frequency

SF Source Web of Debt  Mar 2016

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Switzerland Follows Iceland in Declaring War Against the Banksters


“If you want to continue to be slaves of the banks and pay the cost of your own slavery, then let bankers continue to create money and control credit.” – Josiah Stamp

SwissNationalBankIsaac Davis – Iceland has gained the admiration of populists in recent years by doing that which no other nation in the world seems to be willing or capable of doing: prosecuting criminal bankers for engineering financial collapse for profit.

Their effective revolt against the banking class, who drove the tiny nation into economic crisis in 2008, is the brightest example yet that the world does not have to be indebted in perpetuity to an austere and criminal wealthy elite. In 2015, 26 Icelandic bankers were sentenced to prison and the government ordered a bank sale to benefit the citizenry

Inspired by Iceland’s progress, activists in Switzerland are now making an important stand against the banking cartels and have successfully petitioned to bring an initiative to public referendum that would attack the private banks where it matters most: their power to lend money they don’t actually have, and to create money out of thin air.

“Switzerland will hold a referendum to decide whether to ban commercial banks from creating money.

The Swiss federal government confirmed on Thursday that it would hold a plebiscite, after more than 110,000 people signed a petition calling for the central bank to be given sole power to create money in the financial system. Continue reading

Iceland Jails More Banksters [Video]

James Corbett – Welcome to New World Next Week — the video series from Corbett Report and Media Monarchy that covers some of the most important developments in open source intelligence news. In this week’s episode:

[youtube=https://youtu.be/H-WtRa5bmss]

Story #1:

  • The Strange Growing Effectiveness of Placebos http://bit.ly/1M2EyDi
  • Leading Causes of Death in the US: What’s Changed Since 1969?http://bit.ly/1MjMbkw

Story #2:

Story #3: #GoodNewsNextWeek

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