Peeing in the pants

Since the ISK was floated last week it has strenghtened considerably thanks to the artificial market created by the East German, sorry Icelandic government and Central Bank.

The media celebrates the fact that those who hold currency debts are seeing their loans decline.

Others have likened the current situation to peeing your pants to keep warm in the cold.

The happiness it brings is artificial and short-lived.

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1 Response to “Peeing in the pants”


  1. 1 Roy December 8, 2008 at 6:53 pm

    With the price of aluminum way down, how long before this “exchange” rate farce breaks down?

    http://www.infomine.com/investment/metalschart.asp?c=aluminum&u=lb&submit1=Display+Chart&x=usd&r=6m#chart


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