The Financial War Against Iceland: Being defeated by debt is as deadly as outright military warfare by Prof Michael Hudson from Global Research 5 April 2009 Iceland is under attack – not militarily¬ but financially. It owes more than it can pay. This threatens debtors with forfeiture of what remains of their homes and other assets. The government is being told to sell off the nation’s public domain, its natural resources and public enterprises to pay the financial gambling debts run up irresponsibly by a new banking class. This class is seeking to increase its wealth and power despite the fact that its debt-leveraging strategy already has plunged the economy into bankruptcy. On top of this, creditors are seeking to enact permanent taxes and sell off public assets to pay for bailouts to themselves. Continue at http://www.globalresearch.ca/index.php?context=va&aid=13055
Tuesday, 23 June 2009
Michael Hudson has written a very important article on the debt bondage of Iceland for the excellent Global Research website. Iceland is an advance battleground in the war between the global finance oligarchs and grassroots people. The logical conclusion of Hudson’s article is that there needs to be a global political and ideological campaign to wipe the debt and bring credit under the control of governments in the interests of humanity and the planet.