6 Responses to “Enough!”

  1. 1 Vilhjalm A. January 21, 2009 at 9:19 am

    This was a good start. I don’t expect the “riots” to include more than 4-5000 (for now – maybe a lot more later this year), but it gets the ordinary citizens accustomed to the idea of complaining loudly and expecting change. The best development of the day was the minority party’s proposal for a vote to have a vote – what reasonable person could refuse that?
    Today shows that real action, real protests are what is needed. Not internet petitions, blogs and tv talk shows. Riots, assaults, arson, general strikes, electricity shutdowns, that sort of thing. Maybe guns or explosives.

    I liked the protester who followed behind one of the policemen and played drums on his helmet with a wooden spoon. That cop was really pissed.

  2. 2 Vilhjalm A. January 23, 2009 at 7:40 pm

    I see that Icelandic politics continues to play out like a bad soap-opera melodrama. The witless coward Geir H. conveniently gets a cancer diagnosis just at the right moment, the second-in-command shows up in a funny-looking knitted cap after her brain has been zapped with radiation and makes a variety of contradictory statements. The heir apparent if the coalition crashes and burns is a long-time Luddite back-bencher, Steingrimur S., whose claim to fame is his opposition to color television and beer. (Although he did make one interesting suggestion – pay off the debts to foreigners, but pay them with kroners. Simple but brilliant!)

    And what about this scandal?
    “Certain parties” in the banks actually bet AGAINST the kronur in 2008 to boost their profits or enrich themselves. Their profit-objective was an ISK peg at 180. And where did the ISK end up? At 180!
    Orðið á götunni er að þegar ljóst var í upphafi árs hvert stefndi í efnahagsumhverfinu hafi verið tekin sú ákvörðun í efsta lagi eins af viðskiptabönkunum að leggjast á krónuna í þeim tilgangi að veikja hana svo um munaði. Ástæðan var einfaldlega sú að menn þar á bæ sáu ekki aðra leið færa til þess að bjarga afkomu ársins 2008. Orðið er að um leið hafi sömu aðilar smalað saman aðilum úr illa förnum útrásarhópi landsmanna og gefið þeim kost á að rétta sig af með því að vera með í leiknum og taka stöður á móti krónunni.
    Og áfram var haldið:
    Orðið á götunni er að nokkrir einstaklingar, þar með talið æðstu stjórnendur eins af bönkunum, hafi verulega persónulega hagsmuni af veikingu krónunnar og að það styttist í að svokölluðu 180 markmiði verði náð, en það var það gengisvísitölumarkmið sem hópurinn setti sér þegar hann lagði af stað.
    Nýjustu fréttir Orðsins á götunni af þessum gjörningi eru þær að viðkomandi aðilar hafi hagnast verulega í þessum viðskiptum og að sá hagnaður sé geymdur erlendis.

  3. 3 Einar Jón January 24, 2009 at 9:18 am

    Vilhjalm: The color TV broadcasts came to Iceland in 1978. That’s 30 years ago. None of the people involved are in congress anymore.
    Steingrímur became a congressman 5 years (2 terms) later.

    The beer part is true, and there’s plenty of other dumb things he has said and done less than 20 years ago.
    But please stop spreading this bullshit about color TVs.

    P.s. In the seventies TV coverage didn’t reach all over the country. The commies (Alþýðubandalag) wanted to prioritize and increase the number of transmitters in rural areas BEFORE getting color.
    But I guess saying that they were against progress is more fun (and therefore also Steingrímur, guilty by association).

  4. 4 Roy January 24, 2009 at 10:43 am

    Íris Erlingsdóttir has a few things to say that are well worth reading..


  5. 5 Vilhjalm A. January 24, 2009 at 6:01 pm

    How about the next time-bombs on the horizon.
    The Centralbank has injected half a billion dollars just to keep ISK at the 160-170 artificial rate, which means the 3 billon hard currency reserves went down to 2.5 Billion. At the end of this month they have to pay the interest on bonds, and will have to inject another half a billion, which will leave 2 billion reserves. So in two-four months the central bank will be broke. There may be more bonds due in May or so that have to paid out or refinanced. The IMF loans have been coming in $700 m tranches, with another due later this year. That will temporarily relieve the situation but only delays the inevitable until later this year.
    Plus, the new banks may be technically broke if the value of their assets goes down 10% or so, which will probably happen some time in the next six months.
    Iceland needs a crisis manager right now just to figure out how to prevent total collapse this year. Otherwise, it’s everyone to Keflavik airport or the ferry boat to the Faroes — except the politicians and the pensioners, who are the only ones in Iceland with real savings.
    So while the political developments in the past week have been positive, much more needs to be done, and quickly. I don’t know what the solution is — maybe immediately re-nationalize the quotas and sell part for hard currency, or steal (excuse me, “repatriate”) 2-3 billion dollars from the pension funds for short-term survival.
    Probably nothing will be done, a new government will be in place only in May, and by the time any action is taken it will be too late.

  6. 6 Roy January 24, 2009 at 8:14 pm

    Don´t worry, we have a professional from Akranes looking into this matter, with him at the helm how can we go wrong? Did the banking and attendant watchdog agency scoundrels believe that the average Icelander´s I.Q. was so low that this scamming of the public could be pulled off without consequence? By the way, where are the Kaupthing, Landsbanki ,Glitnir, Fl Group folks and others that we have been reading about during these last several months? Are they still in Iceland and if so are they traveling incognito when they leave their abodes or do they have household staff that does the shopping and running the errands etc?
    Where are the external forensic auditors that should be here finding out what happened to the assets of the banks that were nationalized and who did what when? Accounting 101 surely would recommend that this be done! As a matter of fact we have actually had folks from abroad, who have an education in economics as opposed to a veterinary license, suggesting that this be done! Even though I have to admit that Iceland in it´s current state is one sick puppy!

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