What does Iceland’s President have to do with Emergency Preparedness? Read and find out.
Today, the president of Iceland sits in his study and drinks tea from an immaculate china set.
“If a collapse in the financial sector can bring one of the most stable and secure democracies and political structures to his knees as happened in Iceland,” Ólafur Ragnar Grímsson says to me, “then what could it do in countries that have less stable democratic and political history?”
Adam Taylor at BusinessInsider.com has provided a great article on why Iceland is a great role model for the United States.
The tiny country is unique not only in its stunning geography but also in its open democracy. This democracy was pivotal in the choice to let three giant banks fail during the financial crisis.
After the crisis, Iceland held a full judicial investigation, and went against “the prevailing economic orthodoxies of the American, European and IMF model.” Ólafur says that he likes to think that the IMF learned more from Iceland during this time than vice versa.
A key example of this approach is Iceland’s refusal to pump money into failed banks. The decision was controversial at the time, but now looks increasingly wise. “I have never understood the argument — why a private bank or financial fund is somehow better for the well being and future of the economy than the industrial sector, the IT sector, the creative sector, or the manufacturing sector”.
There is, of course, another aspect. A tricky situation arose when the U.K. and Holland demanded money for their citizens’ depleted Icesave accounts, and Iceland refused. The incident sparked a major diplomatic scuffle, with Iceland refusing to pay out and the U.K. even using “anti-terrorism legislation” against the state.
How can what Iceland did be an example for the United States? It’s plain to see that:
[Editor] if the U.S. continues to give away it’s power to the private Federal Reserve, we can expect our economy to collapse. That’s what has been designed to happen. The collapse of the U.S. and it’s assimilation into a One World Order, One World Government.
That’s when you’ll need that food you’ve stored. Because, you will be starved out.
Here is the original article by Adam Taylor of Business Insider International: