Iceland plans to take back power to create money

[Kritic]

i dunno, i haven't heard anything or researched their economy. i'm just glad to see some countries moving in the no central banking debt direction.

on the local level i read a story about moodys grading county debt and thought about how politicians and elected officials need to pay extra interest on debt in order to manage their municipalities. a complete brainwash job in all levels of government in this country.


Moody’s maintains negative outlook for Miami-Dade finances

http://www.miamiherald.com/news/loc...ticle17230844.html#/tabPane=tabs-b0710947-1-1

since you brought up hungary, i think we must check on what their zionist george soros is up to..
http://www.hiddenmysteries.org/conspiracy/rothschild/soros.html

 

[TLR Is Mental Poison]

So in other words they are moving to the system we have here?

And yea, say what you want about the Federal Reserve, but I would much, MUCH, MUCH, MUCH rather have them in charge of money than the US Govt. Can u imagine Ted Cruz, Charlie Rangel, Mitch McConnell etc at the wheel of the dollar??? :whoatrice: nikka that shyt sounds like an SNL sketch

 

[Kritic]

So in other words they are moving to the system we have here?

And yea, say what you want about the Federal Reserve, but I would much, MUCH, MUCH, MUCH rather have them in charge of money than the US Govt. Can u imagine Ted Cruz, Charlie Rangel, Mitch McConnell etc at the wheel of the dollar??? :whoatrice: nikka that shyt sounds like an SNL sketch

ignorant statement considering the federal installed these policians...

if a politician isn't pro federal reserve they attack them with either the media or irs.

 

[Magic 8 Ball]

If they say so.

Iceland is just about the most irrelevant place on earth. Even Antarctica has penguins.

 

[Futuristic Eskimo]

All the shyt you post about central bankers and you are in favor of this plan?

 

[newworldafro]

On the other side of Europe .......

http://www.telegraph.co.uk/finance/...achma-plans-prepares-to-miss-IMF-payment.html

Greece draws up drachma plans, prepares to miss IMF payment
'We are a Left-wing government. If we have to choose between a default to the IMF or a default to our own people, it is a no-brainer,' says senior Greek official

 

[88m3]

support adult literacy, brehs


#thekingsmen
#lowerlearning

 

[TLR Is Mental Poison]

ignorant statement considering the federal installed these policians...

if a politician isn't pro federal reserve they attack them with either the media or irs.

Links to examples of these attacks? Specifically the IRS ones. And who are "they" exactly? Name names please.

 

[Soundwave]

If they say so.

Iceland is just about the most irrelevant place on earth. Even Antarctica has penguins.

I went to Iceland in April 2013, it's a pretty nice country ... tiny, though

Despite being named Iceland, it's a lot warmer than I expected

 

[Futuristic Eskimo]

So in other words they are moving to the system we have here?

And yea, say what you want about the Federal Reserve, but I would much, MUCH, MUCH, MUCH rather have them in charge of money than the US Govt. Can u imagine Ted Cruz, Charlie Rangel, Mitch McConnell etc at the wheel of the dollar??? :whoatrice: nikka that shyt sounds like an SNL sketch

You should read the paper perhaps.

 

[TLR Is Mental Poison]

You should read the paper perhaps.

OK I read the intro/summary. Very interesting idea, but theres nothing I've seen in the intro that suggests to me putting Reince Priebus and Robert Menendez at the control panel of our currency is a good idea. These guys cant even balance a budget. This plan requires a competent govt and engaged populace that Iceland has and we don't. I do think removing banks' power to create money is a great idea but thats about where the buck stops with me.

 

[Futuristic Eskimo]

OK I read the intro/summary. Very interesting idea, but theres nothing I've seen in the intro that suggests to me putting Reince Priebus and Robert Menendez at the control panel of our currency is a good idea. These guys cant even balance a budget. This plan requires a competent govt and engaged populace that Iceland has and we don't. I do think removing banks' power to create money is a great idea but thats about where the buck stops with me.

I would agree with that. The ideal situation would be to maintain the independence of the central bank from government, but expand its powers in limiting the extension of credit. Any hint of Congressional oversight involved would cause me to have serious reservations about the idea.

 

[TLR Is Mental Poison]

I would agree with that. The ideal situation would be to maintain the independence of the central bank from government, but expand its powers in limiting the extension of credit. Any hint of Congressional oversight involved would cause me to have serious reservations about the idea.

U know if the opportunity arose Congress would jump all over it. Things like unlimited terms and the whole implicit inside trading thing shows what choices Congress will make if the choice is between principle and profit.

That said, while I think this idea is interesting and well thought out, the more I think about it the less I think it would work for the US, even if it were truly independent. I can't find the finance sector's share of Iceland's GDP but it was 6.4% for us here, and thats just pure finance. I feel like we are more dependent on leverage for good or bad... I don't know if this system could work without that grease. Sometimes grease catches fire tho But overall it keeps things moving faster.

 

[Futuristic Eskimo]

U know if the opportunity arose Congress would jump all over it. Things like unlimited terms and the whole implicit inside trading thing shows what choices Congress will make if the choice is between principle and profit.

That said, while I think this idea is interesting and well thought out, the more I think about it the less I think it would work for the US, even if it were truly independent. I can't find the finance sector's share of Iceland's GDP but it was 6.4% for us here, and thats just pure finance. I feel like we are more dependent on leverage for good or bad... I don't know if this system could work without that grease. Sometimes grease catches fire tho But overall it keeps things moving faster.

Well I think one of the many key points to take away from the paper is that banks are collecting profit for performing a task that can be done more effectively and in the public interests. That economic profit that commercial banks capture would mostly disappear and that corresponding capital would be redeployed to help ease the burden that evergrowing public debt has put on countries around the world. Its not really a rational argument to point to banks' share of GDP either. Its in everybody's interests for obsolete, inefficient or economically harmful industries to die a painful death.

 

[TLR Is Mental Poison]

Well I think one of the many key points to take away from the paper is that banks are collecting profit for performing a task that can be done more effectively and in the public interests. That economic profit that commercial banks capture would mostly disappear and that corresponding capital would be redeployed to help ease the burden that evergrowing public debt has put on countries around the world. Its not really a rational argument to point to banks' share of GDP either. Its in everybody's interests for obsolete, inefficient or economically harmful industries to die a painful death.

Well, correct me if I'm wrong but I dont think the piddly commercial banking itself doesnt make much money on its own... its the ability to securitize those activities and use that capital as backing or w/e that enables their gambling that much more. I feel like separating commercial and investment banks would go a long way in curbing credit abuse. Maybe 80% of the way this measure would. Investment banks would be "naked out here B"