Bernard Hickey delivers an Investing Report in association with BNZ, including a look at who will pay when the global game of 'Pass the Debt Parcel' finally ends. Through 2008 and 2009 governments around the developed world effectively took defaulting debt off the hands of private companies and individuals such as banks and some large companies, and put it on the balance sheet of governments. That seemed like a clever strategy at the time as it avoided 'Financial Armageddon', but all it has done is postpone the eventual repayment of the debt and in some cases increase the eventual cost. Investors are now asking whether sovereign states may default or be forced to radically increase taxes and/or cut public spending to ensure they do not default. The best examples of this public imposition of financial pain is evident in Ireland and Greece where public salaries and essential services are being cut. The best and first example of what may happen when the giant game of pass the parcel comes to an end is being played out in Iceland. An Icelandic bank effectively defaulted on its obligations in late 2008, forcing the Icelandic government to take over its obligations. It owed British and Dutch savers 3.5 billion euros and they now want their money back. Initially the Icelandic government simply assumed that taxpayers would be happy to foot the bill from this private company's debt, but a virulent opposition campaign forced a referendum this weekend on whether taxpayers were happy ...
Tags :Investing report, pass the parcel

The people of Iceland used people power, showing REAL democracy, telling their government they do not want to pay for the failed Icelandic banks, and neither should they pay for banks mistakes.This makes Gordon Brown and New Labour angry. What goes around comes around Gordon. Maybe the rest of the planet would like their money too Gordon from the failed UK banks that have taken foreign money and now is in some black hole in New Labour and bankers Swiss bank accounts. In return, Gordon is threatening the Icelandic government that the British will block any move for Iceland to join the Communist European Union project. Gordon thinks this is distressing, it's the best thing to happen to Iceland, their economy will not be further crippled by the EUSSR. Gordon, you are cr@p at playing poker, and have been out maneuver - like losing your queen for a cr@ppy pawn in a game of chess and think that's a good move! Recorded from BBC 10pm News, 05 January 2010.
Tags :people, power, real, democracy, iceland, failed, icelandic, bank, banks, debt, repay, two, fingers, to, gordon, brown, new, labour, stop, halt, join, eu, eussr, european, union, communist, bloc

Comment by Patrick Dixon on how millions were lost in Icelandic bank accounts and lessons to learn about how to make money and how to avoid heavy losses. Rates of return on investments. Assessing risks in fund management and real estate investment. Exchange rate risks and how they impact international investment. Economy risks, political risks, industry risks - all need to be priced into decisions about where to put your money. How to make money and increase your wealth. Portfolio management. What economists think about global risks, banks, banking, insurance and other industry investments.
Tags :business, economics, banks, investments, funds, portfolio, rate, interest, economist, economy, economic, banking, iceland, risks, opportunities, make, money

A MUST SEE CURRENCY CHART/QUOTE: finance.banks.com www.forex-rates.biz 10.08.08
Tags :Iceland, Economy, Global, Crisis

Last Modified: 31 Oct 2008 By: John Sparks The recent collapse of Iceland's biggest banks has cost thousands of British savers and investors hundreds of millions of pounds. Tonight Channel 4 News can reveal that the British government and the financial regulator were aware of serious problems in the Icelandic banking system as early as March, but chose to take no action. Should customers, particularly institutional investors, like charities and local government bodies, have been informed?
Tags :News, Political

Disscussing the latest situation for savers with Icelandic banks.
Tags :Iceland, Kaupthing, Icesave, Luke, ING

According to the British Prime Minister Gordon Brown, Iceland is a state that supports terrorism. Aberrantly he blames the Icelandic government for the trouble the Icelandic banks are in. And thereby making the situation even worse for the genuine population in Iceland. Scandinavian peoples; it is time to stand side by side with our Icelandic brothers and sisters.
Tags :Iceland, bank, crisis, Landsbanki, economy, Great, Britain, Gordon, Brown, terrorist, axis, of, evil, Scandinavia

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Tags :iceland, banks, US, financial, crisis, stock, markets, economy, bailout, plan, rescue, collapse, meltdown, President, Bush

This clip includes the item with 'nomorekids' from the Kaupthing Edge CHAPS transfer' thread at www.moneysavingexpert.com forums.moneysavingexpert.com
Tags :kaupthing, icesave, iceland, nomorekids, moneysavingexpert

Iceland banks need a bailout but the citizens of the country say there is no chance. The people of Iceland voted against a deal that would have helped fix the economic problems, refusing to pay off any banks debt.
Tags :kristine frazao, andrew gavin marshall, Iceland, bailout, banks, finance, economy, bank debt, rt, russia today, rt america

September 2009 Dubbed the 'New Vikings', Iceland's bankers had taken the world by storm. But a year ago their banks collapsed overnight, leaving the country to face economic chaos. Have the lessons been learnt? Like thousands of once-prosperous Icelanders, Gunnar is concerned about his future: Im going to lose my flat. Im going to get bankrupt. All because of the way things were handled here. Turning a blind eye, the government let banks grow ten times the size of the countrys GDP. Very little profits were made from actual banking. Banks only grew by spending other peoples money, especially that of the British. Its one of the greatest Ponzi schemes in history. Says this independent MP. Now Britain wants it all back, leaving Icelanders with a huge debt. With the financial world keen to move on, economists warn of the business-as-usual mentality: If we don't make some quite serious structural changes we are just setting the conditions for a repeat crisis. Produced by ABC Australia Distributed by Journeyman Pictures
Tags :iceland, bank, banking, collapse, recession, journeyman, pictures

Britains Prime Minister Gordon Brown has told Iceland Prime Minister Geir Haarde that he is considering legal action against the island nation over the collapse of its national banks. Brown said that Iceland's decision not to recompense those with savings in their banks was "completely unacceptable" and the British government would do "whatever is necessary to recover the money". The UK government is freezing the assets of Icelandic companies. Haarde, urged his country to not panic after a third bank toppled today, and asked the public to hold back from drawing large amounts of money in attempt to salvage their savings. The financial meltdown in Iceland continued today when Kaupthing Bank became the third bank to fall into the hands of the authorities, and trading on the Iceland stock market was halted. Kaupthing Bank currently operates in thirteen countries; including all the Nordic countries, Belgium, Luxembourg, Switzerland, the United Kingdom and the United States. The collapse of Iceland's biggest bank comes just days after Glitnir and Landsbanki were also nationalized. Virtually the entire Icelandic banking system is now under state control. Haarde has warned the situation is putting Iceland at risk of "national bankruptcy". To find banking jobs in your area, click here.
Tags :UK, May, Sue, Iceland, Over, Bank, Failures, employmentcrossing.com, Gordon, Brown, Geir, Haarde, Kaupthing, Glitnir, Landsbanki

FL GROUP - ICELANDIC BUSINESS MIRACLE English version
Tags :FL, GROUP, Iceland, bank, banks, flgroup, stoðir, stodir, baugur, jon, asgeir

FL GROUP (Part 2) - ICELANDIC BUSINESS MIRACLE. English version.
Tags :FL, GROUP, Iceland, bank, banks, flgroup, stoðir, stodir, baugur, jon, asgeir

Just 24 hours after Iceland's prime minister introduced emergency legislation giving his government sweeping new powers over the financial sector, the country has nationalised its second largest bank. The bailout of Landsbanki comes after trading in shares of major banks was suspended on Monday - and the exchange rate of the Icelandic Krona was fixed - after it lost a quarter of its value against the euro. Sylvia Lennan reports.
Tags :al, jazeera, aljazeera, landsbanki, sylvia, lennan, iceland, banks

news.bbc.co.uk
Tags :banks, bangsters, eu, european union

World Wide Financial Crisis
Tags :Wall, Street, Collapse, Washington, news, cnn, BBC, economy, bailout, NWO, illuminati, fox, meltdown, Gas, Shortage, Ron, Paul, Crash

www.infowars.com
Tags :iceland, government, british, banking, imf, brigitta, jonsdottir, brigitta-jonsdottir, protests, banks, fraud, corruption, eu, wikileaks, revolution, icelandic-parliment, new-world-order

Iceland has been particularly hard hit by the international financial crisis. Given that it has few raw materials, the island in the North Atlantic has made finance the cornerstone of its economy. For years, Icelandic banks have thrived, expanding largely with the help of money borrowed from abroad. The credit crunch has left the country bankrupt. The government has nationalized the major banks under an emergency law, but locals are taking the crisis in their stride. Nonetheless, the fall of the Icelandic currency, the Crown, has left the island increasingly dependent on imports.
Tags :Deutsche, Welle, DW-TV, European, Journal, Europe

To many people, Iceland has become the poster child of the global economic crisis. When its three main banks collapsed, they brought down the rest of the economy. A year later, the country is still mired in recession. What can we learn from Icelands epic crisis?
Tags :IMF; Iceland; banks, recession, crisis, world bank, global economic crisis, banks collapse