Iceland led the way in 2010. Initially it paid a huge price for taking the actions it did. The banksters made sure Iceland was punished for that move. But what about now, how is Iceland recovering? Iceland’s economic freedom score is 72.1, making its economy the 23rd freest in the 2013 Index. Its overall score is 1.2 points better than last year, due primarily to substantial efforts to rein in government spending. Iceland is ranked 13th out of 43 countries in the Europe region, and its overall score remains well above the world and regional averages.
Though hit sharply during the financial crisis, Iceland is well into the process of recovery. The quality of the legal framework remains among the world’s highest, providing effective protection for property rights. The rule of law is well maintained, and a strong tradition of minimum tolerance for corruption is firmly in place.
Iceland has demonstrated a strong commitment to restoring the soundness of public finance and the credibility of its policies. However, the emergency economic measures, including capital controls, implemented by the government during the financial crisis are being unwound only slowly and constitute a serious barrier to economic freedom that threatens future growth. A dependable commitment to regulatory efficiency and open-market policies underpins efforts to restore positive momentum.
Remember when the Icelandics did the unthinkable and told bank creditors (IMF) to take a hike? They also imposed capital controls and allowed the value of their currency to fall – the Icelandic Krona has lost almost half of its value against the euro over the past five years.
The “experts” queued up to assure us that these latter-day Vikings would be severely punished for their impertinence. While no one forecast that a hole would open up in the North Atlantic and swallow Iceland whole, some of the predictions came pretty darned close. Now, four years later, it is clear that, not for the first time, the “experts” have got it wrong, catastrophically and utterly wrong.
GDP has risen 7% from 2010 to 2012, adding nearly $1.2 billion which is nearly $2,000 per capita in a country of only 308,000 families. Unemployment has dropped 2% in the last year and now stands at 5.6%. The government’s budget for 2012 showed only a -2.3% deficit and public debt dropped 10% in the last year. Industrial production grew 3% and revenues rose by nearly a half billion dollars.
Granted there are still issues facing Iceland, especially in the area of pension funds, etc., but there is no question Iceland is outstripping the rest of the EU in recovery. So it is fair to say Iceland 1 Banksters 0.
Now Hungary has followed suit. Hungary is making history of the first order. Not since the 1930s in Germany has a major European country dared to escape from the clutches of the Rothschild-controlled international banking cartels. Hungarian Prime Minister Viktor Orbán promised to serve justice on his socialist predecessors, who sold the nation’s people into unending debt slavery under the lash of the International Monetary Fund (IMF).
According to a report on the German-language website “National Journal,” Orbán has now moved to unseat the usurers from their throne. The popular, nationalistic prime minister told the IMF that Hungary neither wants nor needs further “assistance” from that proxy of the Rothschild-owned Federal Reserve Bank. No longer will Hungarians be forced to pay usurious interest to private, unaccountable central bankers.
Instead, the Hungarian government has assumed sovereignty over its own currency and now issues money debt free, as it is needed. The results have been nothing short of remarkable. The nation’s economy, formerly staggering under deep indebtedness, has recovered rapidly and by means not seen since National Socialist Germany.
The Hungarian Economic Ministry announced that it has, thanks to a “disciplined budget policy,” repaid on August 12, 2013, the remaining €2.2B owed to the IMF—well before the March 2014 due date. Orbán declared: “Hungary enjoys the trust of investors,” by which is not meaning the IMF, the Fed or any other tentacle of the Rothschild financial empire. Rather, he was referring to investors who produce something in Hungary for Hungarians and cause true economic growth. This is not the “paper prosperity” of plutocratic pirates, but the sort of production that actually employs people and improves their lives.
With Hungary now free from the shackles of servitude to debt slavers, it is no wonder that the president of the Hungarian central bank, operated by the government for the public welfare and not private enrichment, has demanded that the IMF close its offices in Hungary and leave. In addition, the state attorney general, echoing Iceland’s efforts, has brought charges against the last three previous prime ministers because of the criminal amount of debt into which they plunged the nation.
The only step remaining, which would completely destroy the power of the banksters in Hungary, is for that country to implement a barter system for foreign exchange, as existed in Germany under the National Socialists and exists today in the Brazil, Russia, India, China and South Africa, or BRICS, international economic coalition.
The rest of the western world needs to understand what is happening here. These are not notions of what could be done, but instead are real life examples of the people waking up, taking action, and freeing themselves from usury and economic enslavement. The stories of Iceland and Hungary don’t show up on any MSM financial shows and we wonder why. Not really, we know why don’t we?
Maybe, just maybe, we should begin having the same discussions in the UK and the US for example. As we watch this circus of government shutdown and going over the deficit cliff, you have to ask yourself just one question, who is the holder of that giant deficit we owe? You get the idea right?