Iceland Overview

Iceland went bankrupt and total disorder in 2008. Its currency, the krona has been abandoned by most people in the world. Iceland has lost two thirds of its previous value and purchasing power. Iceland is a country that throughout its long history of 1100 years has been extremely poor, depend on fishing for their only real source of income. Obviously, Iceland had no financial experience or investing. He knows how to catch fish. Looking at the Wall Street bubble, the three largest Icelandic banks, with assets of several billion dollars, increased to $ 140 billion in three and a half years. It was called "The fastest expansion of a banking system in the history of mankind."

These three banks were following Wall Street like a shadow, and lend money to buy stocks and real estate. While the US stock market has been doubled, the Icelandic stock market rose 900%. In 2006, real estate prices doubled Reykjavik, and the average Icelandic family was three times as rich as it was in 2003. All this "wealth" was supposedly linked to the investment banking industry. Sounds familiar? Of course, it all collapsed with a big bang, when the three banks failed investment.

The fishermen go fishing, and mania is to buy and sell stocks and real estate. As interest in his crown was 15.5%, why not buy the euro or the yen at a rate of 3% and cleaning of interests? Then his crown collapsed and they still have the euro and the yen bought. There were a lot of fires in Iceland to pay the bills. These poor insurance companies had to pay. He arrived here in the United States, to a small degree, but often not properly investigated and the accused guilty.

Iceland has many wonderful glass, steel office towers and apartment buildings that are unfinished and empty, with a lot of money due to them. More or less like the rest of the world now, but he arrived in Iceland much faster. The bomb exploded in Iceland quickly because it is so small and its speculation was such extreme heights. If you walked around Manhattan today, you would see empty shops, streets and taxis that are evident and the same thing is evident in other major cities and small towns everywhere. The bomb exploded later in these places outside after Iceland, Iceland, however, was the prototype. What is different is that the president of Iceland left the bomb explodes, while our government is committed to cover the misdeeds bailing banks then. Icelanders found that pieces of paper are not negotiating a production company. A handful of guys who imagined that financial experts took tens of billions of dollars of short-term loans abroad. They were then re-lend this money for themselves and their friends to buy assets such as football teams, cars, houses, etc. Since active all over the world have been growing; because the mentality of people like paying crazy prices for all Icelanders seemed to be making money. We agree that are each worth a billion dollars. Now, we own the house more, but Icelandic banks with a billion dollars in new assets. They created fake capital by active trading them at inflated values. "That does not sound like the rest of global financial GENIES?

Iceland was just the extreme of what happened in the rest of the world, and he came home to roost in Iceland first. Think you start to AIG, Citibank and the rest of bankruptcies knew in advance imminent trouble ahead? One can imagine that, short of their own business ahead of the collapse and make tons of money? And these baskets are carefully kept in panels of walnut board rooms sacroiliac this holy of holies? Iceland looked so good for the rest of the world ... for a while anyway ... just like Madoff who "invested" heavily in Iceland, with its share of 15.5%. German banks have $ 21 billion for banks in Iceland. Sweden scored $ 400 million. U.K. investors forked over $ 300 billion, many pension funds, hospitals, universities and other public institutions. Oxford University has lost $ 30 million. "Experts" can not hurt and are trusted with wealth and surplus assets.

There are no degrees or specialized licenses have to decide to buy gold and silver, which, after all, has always been money over time. Gold and silver is simply a way to protect the assets of criminal swell in the currencies of the world.