I KNEW THIS DAY WOULD COME

well it seems i was right all along , Iceland is in trouble , to be honest you cant sell chicken nuggets and cheescake at a pound a go and not expect problems

Who told ya Iceland was in trouble? You been beliving those nasty people at the BBC again? Iceland is per head of population prety much minted..........They closed up shop, called in all foreighn investment and are shouting poverty.........well 2 things, firstly yes they were losing money but secondly there not any more, basicly as stock markets fall were all losing money (metephoricly) were also bailing out the banks with tax payers money, thats Global banks not just your bank on the high street. so in effect were pissing money into the wind or rather the global banking system.........Now remember Iceland shut up shop, ie they stoped trading on the stock market (until next weekend at the moment) well this has 2 effects on Iceland....1 There stock price is in effect frozen, it's not going down like everyone elses. Secondly they don't need to bail out Global banks with there money........And there in trouble? There prime minister is a banker....enuff said LOL You'll also might have heard there pulling money out of the UK.......remember the "calling in foreighn investment" This has basicly fecked over alot of councils and from my experience the NHS amoung others, they also are major investors in alot of the BIG high street retailers........Now you might think "Hows Hereward know so much on this?" Well myself and Joker have been following this for a few weeks LOL Latest was the UK freezing islandic assets under the "anti terrorisim laws"......Yeah theres a twist! mark my scrawly words....Iceland, new Switzerland!

Hereward wrote:Now you might think "Hows Hereward know so much on this?" Well myself and Joker have been following this for a few weeks LOL

i really think you two should get out more

Surely iceland is in trouble only due to the fact that its assets are metling away, literally....

fnar fnar



Death to Bjork.....

There is a slow loss going on over there, I say slow comparativley speaking. Iceland is a huge global bank if you like, it's where it gets alot of it's cash. Now like every other country it was losing money with the recession, but it was losing more than most, there actions in calling in foreighn investment and freezing the Icelandic stock exchange slowed this loss, there still losing money but at a much slower rate than everyone else, thus in effect becoming eccenomicaly stronger than everyone else. All this media talk of a bankrupt country is working in icelands favour............to an extent, Obviously the financial markets know whats happening, thus "Aid" packages are not on the cards but trying to stop them doing it by using "Anti Terrorisim Laws" Is........I still say Iceland is good value for frozen food.

Oct. 9 (Bloomberg) -- Chancellor of the Exchequer Alistair Darling used anti-terrorism rules to take control of assets held in Britain by a troubled Icelandic bank.

Darling stepped in to protect deposits made by U.K. residents in Reykjavik-based Landsbanki Islands hf, which the government of Iceland seized yesterday. About 300,000 U.K. account holders held deposits at Landsbanki's Internet bank, Icesave.

``To protect U.K. economic interests the government has frozen the funds and financial assets held by Landbanksi,'' Stephen Timms, financial secretary to the Treasury, said in Parliament in London today.

Icesave yesterday blocked customers from accessing deposits at its online bank. The U.K. Treasury said it will guarantee all customer deposits at Icesave, even those above the Britain's 50,000-pound ($87,800) deposit protection plan.

The Treasury released a document to Parliament yesterday showing it used sections of the Anti-terrorism, Crime and Security Act 2001 to take control of the bank's assets, saying in the statement the bank's collapse may harm the U.K. economy.

``The reason we took this action which was extraordinary action was in order to protect the interest and to try to ensure there was money there for creditors and depositors in the U.K,'' Prime Minister Gordon Brown's spokesman, Michael Ellam, told reporters in London today. ``In the view of the chancellor there was clearly a potential systemic risk, and that is why the action was taken yesterday in relation to depositors.''

Lawmakers in Parliament's upper House of Lords today debated the new Counter Terrorism Bill. Some lawmakers have said the rules would curb the civil liberties by extending the time police can detain terrorism suspects without charging them for up to 42 days. The Lords vote on the plan on Oct. 13.


OK So how dose Iceland threaten the UK in regards Terrorisim? OK so the Roal navy lost the COD wars against the Icelandic fishing fleet.....A truely funny moment in history......But terrorisim? Has Bjork been seen wearing a turban recently? Some could argue shes been terrorising UK music lovers for years (heathens) or maybe Sigur ross is poised to release a swarm of propoganda against the UK, preaching Icelandic peace and tranquility LOL..........Those icelandic terrorists, Just don't tell the americans or the'll be an aircraft carrier of the coast in a few days LOL

you know all this started in april, i remember mentioning it to hereward that something weird was going on

Iceland's economy 'under attack'
Iceland says it is under attack by speculators

Iceland is considering intervention in its currency and stock markets to fight hedge funds that it says are attacking its financial system.

The country's prime minister, Geir Haarde, told the Financial Times that it was being unfairly targeted.

The Icelandic currency has lost a quarter of its value against the euro this year as rumours of a financial and banking crisis have swirled.

Last week, the country's central bank made an emergency interest rate rise.

"The central bank and the government have several means at their disposal to influence this situation and we have not used all of them yet," Mr Haarde said.

"We would like to see these people off our backs and we are considering all the options available."

He said hedge funds wanted to make a profit "by hook or by crook".

Rumours swirl

The government believes that speculators may have spread false rumours to create fears of a banking crisis in order to profit from short positions on the Icelandic krona and stock market.

Short positions are bets that a stock or currency will fall in value.

The country's financial watchdog has launched an investigation into the the alleged market manipulation.

http://news.bbc.co.uk/1/hi/business/7326063.stm

that was in april, iceland's currency has never recovered. also i heard the guy (and yea its just one) who owns all the shares in the uk companies is being encouraged quite heavily to sell them all off. Iceland is on the brink of bankruptcy, that won't happen of course because as we have seen iceland is rather important to our economy. infact a team of home office economists is on the way up there now, so I expect our money to be freed up soon and a bailout offered to them in some way.

but really treating them as terrorists is not the way to play this. the real terrorists are the guys who attacked the currency and the guys who sold the dodgy mortgages in the US that started all this stuff.... sorry did I say terrorist? I meant free market capitalists. round them up please.

See Jizzy, I told ya he wasn't dead LOL, The futurers market.......Hmm oil prices anyone?

http://www.icelandreview.com/icelandreview/daily_news/?cat_id=16539&ew_0_a_id=313457

In an interview with Sky News yesterday, British Prime Minister Gordon Brown defended his decision to use the anti-terrorism laws to seize Icelandic assets in Britain. He said he believed the Icelandic nation was in fact bankrupt and that Icelandic authorities could not simply refuse to honor their obligations, Fréttabladid reports.

oh yea and the netherlands is now planning to sue iceland as well as the UK

http://www.icelandreview.com/icelandreview/daily_news/?cat_id=16539&ew_0_a_id=313455

Hmmm odd, very odd. Looks like Iceland isn't being allowed to simply "shut up shop" whilst the markets calm down. This could get messy, Just dont belive Iceland has no money, they just dont want to share what to join the free fall LOL

see the problem is owen that iceland is rather strange... whilst everyone else in the world is happy to put their money in icelandic banks the icelandic people know better, he most common method people used for getting loans in iceland (for everything from cars to houses) is foreign loans, because the local currency is insane, so they get loans in stable currencies (usually from asian markets). that's why iceland is now in a situation where it is the bank for the rest of the world whilst its people (and government) has borrowed 5 times what the country is worth from foreign banks (5 x GDP i believe, which would make the loan about a 100 million dollars). so iceland does technically have money... its just in other countries right now and these countries are rapidly falling dropping of the friends list lol.

i blame kerry katona

did someone mention oil?

http://news.scotsman.com/uk/But-there39s-some-good-.4582184.jp

[a leading community killer i.e. supermarket] yesterday shaved 3p off the price of a litre of fuel as Gordon Brown, the Prime Minister, demanded motorists share in the benefits of falling oil prices.

Oil is back down to $79 a barrel! wow you remember those days?

Which is actually rather good since the crunch in at least one area of business is being eased. First person to suggest that this is an example of the free market working to benefit people gets Milton Friedmans' pissed stained corpse inserted into their arse.

(if you don't know who friedman is then google 'economic genocide' ... ok too harsh?, google 'Chicago school of economics' instead)

I have gone and bought 3 sigur ros albums to ease the plight of Iceland.......I may be investing in some property soon as well to help out (ahem), but I'm still sticking to my guns on this whole Icelands broke stuff, it just aint happening.

I may be investing in some property soon as well to help out

unless you want to lose a friend and your IT guy you will not be doing this.

not sarcasm (just blind jealously).