Friday, April 13, 2012

Iceland Forgives Mortgage Debt for the Population. Putting Bankers and Politicians on "Bench of Accused"

This is awesome. It shows when the people DO STAND UP they have more power and win against the corrupt bankers and politicians of a country. Iceland is forgiving and erasing the mortgage debt of the population. They are putting the bankers and politicians on the "Bench of the Accused." Which means I assume they are putting them on trial for corruption.

Now the rest of people of the world need to start doing the same thing. We all need to stand up and against all the corruption and fraud of the banks and politicians that are puppets of the banks and corporations.

**Edit to add 4/14/12***

It seems this may not be true, due to people from Iceland saying it is not true. El Mundo news is the originator of the information from the video above. Since they are a news organization and they broadcasted this, I had assumed it to be true. Also since the Icelandic people have been standing up against the tyranny of the banks and corrupt politicians for the last 3 years, it was not beyond me to think it was not true. I have looked on Iceland news sites and have not found mention of it.  I did not put this out for "fake news" I had believed the broadcast.  So, if it is wrong I am sorry for putting out misinformation, as that is not what I do.  I will always try and put out only real truth and real news.


  1. And what of those that paid their mortgage in full through hard work? Or those that avoided taking a mortgage because they were still saving for a fair down payment? This raises the moral hazard question. I'm the big banks enemy but they are not the only ones at fault and this is hardly justice.

    1. LOL You sound like those "experts" saying it is a 'moral hazard' to lower people's principal on their mortgages here in the U.S.

      Sure you are a 'enemy' of the big banks.

      So, what about all the money that has been stolen out of people's accounts by the banks at MF Global? What about the Trillions from the taxpayers to give to the big banks?

      What has happened in Iceland, needs to happen around the world!

      The 'moral hazard' of the world is the corrupt banks and politicians.

    2. This is great news, and you're right about what we need to do. As for the comment by Anon, above, re: those who 'paid their mortgage in full through hard work' I also agree with your response, especially because the comment suggests that those who were defrauded or unable to pay their mortgages were somehow morally inferior, which they were not.

      We must stop being sheep, band together, and either toss the crooks in jail or, at the very least, make worthless their efforts to rob us by refusing to pay them. No more 'ill-gotten gain' for the money-junkies.

    3. How about years ago when interest rates were capped at 18% and banks did just fine without bailouts? Today after trillions in bailouts the top rate domestically is well over 150% for payday loans. This used to be a criminal act during the Reagan years. The banks have caused enough havoc and it is time they paid up. The U.S. should do the same but it won't. Too many dumb asses caught in the fake left/right paradigm.

    4. The entire Banking world is a complete con. Fiat Currency Fractional bank and 9 times what they hold. The debt is a farce and should be forgiven for it was never real money. Once you understand what has gone on for thousands of years you will understand the REAL MORALITY of the issue

    5. When things are this messed up there is no perfect solution where everyone wins. We need to start some where. I am one of those that worked hard and sacrificed a lot to pay off my mortgage and would not directly benefit from such a program however, i do benefit greatly from the benefit others receive in the form of economic stability and growth. Life is not fair, deal with it.

    6. You paid off your mortgage that is awesome. But it seems you need to take your own advice. "Life is not fair so deal with it."

      You see, the banks have defrauded the people of the world, the fraud is being exposed (MERS in the U.S.) and Iceland bringing them to court.

      Due to the fraud, mortgages are not valid contracts because the banks did them in a fraudulent way. The people in Iceland are now going to benefit. Also the banks never had the money out in the first place, it was all fractional banking.

      So... you will need to take your own very good advice.

      "Life is not fair so DEAL with it" when the fairness works out for others and not for yourself.

    7. i dont know about moral hazard but it is clear - the ones who did everything by the book are the ones getting screwed, and not just by an action like this. they have been paying big bucks on money that earns them no interest in the bank. on top of that, the ones who paid cash or paid off their note now see their nest egg disappear in lost equity. that money is not in the hands of under water mortgage holders. its all gone to the banks, along with all the inflation dollars, too.

      the answers to all these problems are found in the bible. no usery and a jubilee(resetting of property and debt back to the start) every fifty years. anything else is just rich people owning poor people, and THAT is the greatest moral hazard of all, socially speaking.

    8. "And what of those that paid their mortgage in full through hard work?"

      how about this for an 'anwer'

      TFB = TOO F---KIN BAD!!!

    9. Many people don't understand that this debt being foisted upon people throughout the world was created by bankers playing it fast and loose through the use of risky exotic papers, default swaps, and junk derivatives.

      Unable to repay the estimated 1.5 Quadrillion ($1,500,000,000,000,000) in bad debt they owed - which is far larger than ALL the world's economies combined - they decided to assign their debt obligations onto ALL the countries of the world.

      Therefore, this issue is not about overspending (or even having to bail out countries that have over-extended themselves): this has to do with corrupt banking institutions that have decided to drop their debts into our laps and expect us to fit the bill for their stupidity by way of initiating programs called "austerity measures".

      Unfortunately, there is not enough money in the world to recover these enormous debts, but once a government signs onto a portion, all the property in that country - whether it be public or private - becomes a means of recompense or repayment.

    10. "And what of those that paid their mortgage in full through hard work? Or those that avoided taking a mortgage because they were still saving for a fair down payment? This raises the moral hazard question. I'm the big banks enemy but they are not the only ones at fault and this is hardly justice."

      This has nothing to do with real mortgages that actual borrowers defaulted on. The debt being forgiven is the bank debt that the government agreed to take on to save the bank out of fear of economic collapse. The banker debt the Icelanders were on the hook for was not from bad mortgages but from derivatives speculation and credit default swaps. The banksters and investment community have for years known these things were toxic risky but they did nothing because everyone was making money and no one wanted to risk stopping that.

      Once the cat was out of the bag and it was realized by real investors that the Derivatives were crap wrapped as gold the bottom fell out and the derivatives crashed.

      When that happened the banks around the globe pushed to get local governments to bail them out because the banks did not want to take a haircut (aka loose money) on the risky investment gambling they participated in.

      The only connection between the debt and bad mortgages, mortgages to persons who never should have gotten a mortgage is that those bad mortgages were the seeds of the credit default swaps. The banksters that started Credit Default Swaps had to have something to wrap up and so they used the risky mortgage loans to do this.

      Stop being a tool for the mass media which is owned by the same crooks who pushed to be bailed out. Its all a scam and the people of Iceland say NO WAY!

    11. Those who were able to pay their mortgage should consider themselves fortunate, be grateful they didn't get screwed, and be happy for their fellow citizens.

    12. Not to oversimplify the matter, because those who paid off their notes should have some reward, and that should be future equity and freedom to it. Debt forgiveness is awesome also, but it ought to be tied to future equity and upon sale of that home, the forgiven debt should be paid back interest free. By so doing this you will see many stay in their homes mortgage free with an incentive to stay and fix it up since it will be their own profit down the road. This will also lower supply of homes and in an ideal state begin a recovery that all will benefit from.

    13. I am happy for my fellow humans to get debt forgiveness - but will it actually change the way people live? Doesn't it all boil down to lifestyle choices and consumption? Some of us live frugal lives paying off our loans using cash when we can and basically "living within our means". But due to the modern epidemic of status anxiety and the need to have what others have many have borrowed beyond their means - the banks take advantage of this, offer you larger credit limits - you take it and the debt crisis becomes your life. If you had all the money in the world would it change the way you consume - would you buy less? Would you be a happier person with all that money ... really? I applaud Icelands move as it obviously helping a portion of society - but for those who live within their means and work hard to save its a real punch in the guts not to receive any compensation for their frugal lifestyle - ie not adding to the debt crisis.

    14. "And what of those that paid their mortgage in full through hard work?"

      Sue the bank for fraud and get a fair amount back.

    15. Those who paid their mortgages after twenty or thirty years bought their houses when they were cheaper, when mortgages were regulated and when they had jobs with fair pay.

      Most younger people of the last 10 years have been screwed in more than a few ways by the banks, employers and the government deregulation of banks.

    16. look at it this way. Here in the US we did it differently. 16 trillion went to bail out the banks and we still have a problem with the derivatives and the economy. Had we used that money for the citizens we could have paid off all mortgage, credit card and student loan debt for all Americans. and no more derivative problem. plus the banks would be paid in full and would have no reserve issues. Even if the banks just forgave the mortgage debt, remember that they made up that money, they gave those people a check drawn against numbers that they entered on their balance sheet. It's not "real" money until it's paid back with money that is taken out of the economy. Putting money into the economy is done with a computer entry.

    17. forgiving the mortgages only deals with the symptom.. if Iceland doesn't address the fractional reserve system and fiat currency, the malinvestment will return in a few years..

    18. This is in fact a fair comment. Debt repudiation favors debtors over people who don't have debts. It sounds nice in the sense that creditors are shafted, but it is indeed unfair to those not holding debt.

      Therefore the real solution is not debt repudiation, but at an interest strike.

      Don't ignore this point sherrie. Killing creditors (banks) is ok, but do it in the right way!

      No problem about the story not being true. Too bad though.

    19. What everyone here has failed to mention is; how about those hard working people who were paying all their bills on time not really living beyond their means and then they had the rug ripped out from under them by losing their jobs and have been DRAINING their savings and everything else they have to survive for the last 4 years!

    20. "And what of those that paid their mortgage in full through hard work?"

      A hesitant lifesaver could use the same argument: "Isn't saving this kid drowning in the river unfair on all the previous kids who didn't get saved?"

    21. Did Iceland forgive the majority of its citizens’ mortgage debt?

      Hmmm … “different” for sure. And mostly untrue. Here’s a more accurate picture of Iceland’s debt restructuring program: “IMF Says Targeted Debt Reduction Policies Can Work”

      In the case of Iceland the situation was more difficult, due in part to the much bigger proportion of the population that was affected, and to the wide presence of foreign currency mortgages.

      The government and the newly constructed Icelandic banks developed a template to be used in case by case restructuring discussions between borrowers and lenders. The templates facilitated substantial debt write-downs designed to align secured debt with the supporting collateral (i.e bring the loan into line with the value of the house) and align debt service with the ability to repay.

      The IMF found that such case by case negotiations safeguard property rights and reduce moral hazard, but they take time. As of January of this year, only 35% of the case by case restructuring applications had been processed. To speed things up, Iceland has introduced a debt forgiveness plan which writes down deeply underwater mortgages to 110% of the households’ pledgeable assets.

      It noted that only when a comprehensive framework was put in place and a clear expiration date for relief measures announced that debt write-downs finally took off. As of January 2012, 15 to 20% of all Icelandic mortgages have been or are in the process of being written down.

      which sounds a lot more reasonable and realistic than the Spanish language report, which appears to be highly inaccurate. Even in a small nation like Iceland (320,000 citizens) the process of re-evaluating home values and restructuring mortgages to more closely match those values (along with the current financial situations of borrowers) is a slow and time consuming process. And of course it would be an utter disaster if banks were forced to simply erase a significant portion of their assets, regardless of how well-intentioned the reasons were. But it’s good that Iceland is making a serious attempt at helping honest borrowers keep their homes and pay back their mortgage loans.

    22. "And what of those that paid their mortgage in full through hard work?"

      This assumes that the people who couldn't pay their mortgages were just lazy and didn't work. So a loaded question right from the get-go.

      As for me, if I were in this situation--having paid my own mortgage by the time this happened--it actually wouldn't bother me too much. I'd be glad of a government willing to do this because if I was the one in trouble next time, then I might be able to get some help myself. "There but for the grace of God go I" is the right-wing's most forgotten truth.

  2. I agree with anonymous above--those who played by the rules get screwed, although I think the banks are EVIL.

    True story. We own our home out right (no mortgage, through hard work and never having any luxuries for our entire lives, and finally have no credit card debt after years of being stupid). We keep one credit card (and always pay the balance off each month if we use it). That card initially had a $5,000 limit. The more we paid it down, the less credit they would give us. Every six months or so we get a letter telling us that they are cutting our credit again---even though we have not been late with payments and keep NO BALANCE. We just got the limit cut again and we now have a limit of $1000 due "a look at our credit report where they noted we do not have a mortgage." Whatever. We don't need it anyway.

    But here's the real kicker. We have a daughter in college and her roommate is about $50,000 dollars in debt for school loans. Her car just broke down and she went to a dealership and immediately got a loan for $15,000 for a USED CAR. This girl is 21 years old and HAS NO JOB! This is what the world is turning into--a place where money flows freely to those who have NO MEANS TO PAY IT BACK, while people like my husband and myself are looked at like freaks because we don't take on unnecessary risks. This insures that we will be bailing all the "free money" people out despite the fact that we live below our means and don't have all the fancy things other people have. We buy what we have money to pay for.

    We do have peace of mind, however, and that, at least is something. Obviously people make mistakes, however, that's what life is about. I don't like seeing people tossed from their homes. Life has not been easy for us but we did not look to someone else to save us--we saved ourselves. I think that's where people are going wrong nowadays....they want someone else to save them. We all have what we need inside to save ourselves.

    1. Not to take away from what you have accomplished, but the game is rigged now. As jobs get outsourced to other countries, people lose their homes; they don't necessarily have to be lazy anymore to fall into the category of homeless. What happens if you are sick and have no health insurance? (NOT provided these days by large numbers of employers)You can lose everything even if you have a job! You have to understand that the current system was MEANT to cause harm to people, it is not accidental. They (bankers/"elite") INTEND to break America. We all need to stand together; please remember who the Bad Guy really is. Don't let them play Divide and Conquer.

    2. you should have known it was a con. we were told.

      Permit me to issue and control the money of the nation and I care not who makes its laws. — Mayer Amsched Rothchild

      The One World Government leaders and their ever close bankers have now acquired full control of the money and credit machinery of the U.S. via the creation of the privately owned Federal Reserve Bank. — Curtis Dall (Franklin D. Roosevelt’s son-in-law), My Exploited Father-in-Law

      Since I entered politics, I have chiefly had men’s views confided to me privately. Some of the biggest men in the United States, in the Field of commerce and manufacture, are afraid of something. They know that there is a power somewhere so organized, so subtle, so watchful, so interlocked, so complete, so pervasive, that they better not speak above their breath when they speak in condemnation of it. — President Woodrow Wilson, 1913

      This Federal Reserve Act establishes the most gigantic trust on earth. When the President (Wilson) signs this bill the invisible government of the Monetary Power will be legalized. — Hon. Charles A. Lindbergh, Sr., Dec. 23, 1913

      The case for government by elites is irrefutable. — Senator William Fulbright, Former chairman of the US Senate Foreign Relations Committee, 1963

      I never thought the Federal Reserve System would prove such a failure. The country is in a state of irretrievable bankruptcy. — Senator Carter Glass 1983

      Freedom—is the absence of the awareness of restraint. — David Rockefeller

    3. To ANON 7:07 and 6:44
      Stop worrying about others and the "ITS NOT FAIR" BS. When someone is a VICTIM of a Crime,the Borrowers, you can not blame the victim. Just because you paid on a Fraudulent contract does not mean everyone else should. As a matter of law when you discover fraud you are suppose to bring it to light, at discovery, to the appropriate people. When you signed your mortgage docs your contract and name is involved in Fraud; and there is a second victim, "the invester" who purchased the MBS security. So ANONs(6:44 and 7:07) , technically you have a moral obligation to Cancel the Contract once FRAUD is discovered. If you have not done so you are guilty of concealing and being involved in an ongoing crime.
      GROW UP!!!

    4. you may want to research your idea that you own your home outright.

      The crucial point that is overlooked in your argument is that you paid with "negotiable debt instruments" and thus you are twice as far in the hole in terms of what you "owe" on "your home."

      You, and people in your situation, if you truly do understand moral hazard, should be the first ones protesting, while, on the way to the protest, you should be telling the banks to forgive all of the so-called "mortgage debt" so that people will not in the future end up in your plight.

      Indeed, this would be the beginning of moral clarity.

    5. This AnonymousApr 13, 2012 01:29 PM is correct. You do not own anything really as you never lawfully purchased anything with any real money.

      Oh you think those Federal Reserve Notes are money? Have you bothered to look at what the legal definition of a NOTE is? Its a loan so all you did was pay a loan with a loan and your still in debt. So in reality what you did was act as AGENT for the Federal Reserve and purchase items for them.

      In other words your a Federal Reserve Debt Slave.

    6. There are very few real humans that actually own their land outright. I happen to know perhaps 10 of them. The rest may believe they own their land out right but they do not.

      See what the problem is with the majority of the people that think they own their home is that they payed off their HOME NOTE with FEDERAL RESERVE NOTES so they paid debt with debt. An in doing so they were acting as an agent for the FEDERAL RESERVE. Hence the real owner is the one that issued the NOTE. So it is the FEDERAL RESERVE that owns what most think they own.

      Now had those masses paid for their homes in LAWFUL MONEY not legal tender then yes they would own their own homes. Like I said I know 10 that have done so. There are a few other ways to get the a real title to your land but that is something each person would have to investigate on their own.

      Yet let us get to the crux of the matter shall we. To all of those that think that they did the right thing by paying their supposed loans off. Here is the deal You got suckered. That is right you got defrauded. You were lied to about what you were given (Bank Credit not to be confused with Lawful Money) and so if you really want to be mad at someone its the BANKS and the Corporations and the government at this stage is nothing but a corporation itself. Those are the ones you should be mad as heck at and not your fellow man.

      An if you think I am wrong about your local, state and federal government being nothing more than corporations perhaps you should look how they are run as for profit businesses. To do that you would have to start learning about things like CAFR's (Comprehensive Annual Financial Reports). Every level of government has at least one and the higher you go up the food chain the more you have. You could also start looking at the SEC filings by your state and local governments. There you will see how they not only sell Bonds (another form of stock) but they also invest in all the other corporations as well.

      You might want to start understanding the information that these two sites.

      There is a nice video as well here

      An I can tell you that the State of Michigan alone had a 16 page filing with the SEC for the stocks it owned not to long ago and in the first 10 pages there is over 700 Billion dollars of tax payer money setting there invested in things like Apple and J.P. Morgan, Bank of America and so much much more.

      When the government and business are in bed together its called Fascism.

      Wake up and educate yourself before you find your self in one of those supposed camps that do not exist.

    7. To many of the respondents to the woman who paid off her house:

      You want to talk about what's FAIR?

      FAIR is taking a risk and accepting responsibility for the consequences, good or bad, like an adult.

      FAIR is delaying instant gratification by saving your income, investing and reaping the rewards in the future.

      FAIR is putting extra effort into studying and getting good grades as a result.

      FAIR is treating those around you who are legitimately successful with respect, instead of shameful envy for having what you do not.

      FAIR is NOT allowing the Fed to continue creating money out of thin air and STEALING the value from others who have SAVED.

      FAIR is NOT allowing banks to make bad investments and then get bailed out by the taxpayers.

      FAIR is NOT benefiting the debtors, while punishing the savers.

      FAIR is NOT taking the wealth of those who have *legitimately* achieved it and stealing from them to redistribute it to others.

      And finally...

      FAIR is NOT buying a home whose inflated value you guessed/risked would always continue to appreciate and then somehow expect an outcome where you can shirk your responsibilities and be given a 'free' home or have your debt erased, just because someone else committed a DIFFERENT kind of fraud with the 'money' you loaned from them, regardless of whether that money was FRNs, beads or seashells. You still CHOSE to acquire that debt in whatever form it came in.

      To condemn the lack of consequences for the FED's activities on the one hand, and then to expect no consequences for YOUR decisions on the other, is PURE HYPOCRISY.

      If you want to play FAIR, it's not a one way street where you get to have what you want when things are going your way and then don't have to suffer any consequences when they don't.

      The only kind of people who do that are childish losers and criminals, whose ranks include many (but not all) central bankers, politicians and corporate executives, among throngs of others. Do you really want to include yourself in their ranks?

      The solution is hold criminals accountable for their conduct, not to join them in their plunder

  3. It's great to see people receive something for once. This compounded interest baloney some people refer to as usury. Then all of the crime in derivatives, gambling and losing with real money in the peoples system that was a product of fractional reserve lending to begin with?
    Please, absorb the moment, there is some beauty in it.

  4. No debt, no slaves. Let's hope this example spreads to the US, the biggest debtor nation in the world.

  5. Thank you Sherrie!! This is AWESOME!! Rotschild BEWARE!!!!

  6. Fractional Reserve Banking(USURY) is a fraud and a scam(CRIME)! Good for Iceland! Time to round the war mongering banksters up and create a DEVIL'S ISLAND where they can spend the rest of their lives screwing each other! Great article!

  7. I think the key phrase in the story is "the people's demand"...

    With a population similar to Iowa, a monolithic ethnic makeup and a single language, Iceland has few enough people to actually speak to each other and have the possibility of consensus and a unified demand.

    Here in the states, there are so many diverse socio-political elements vying for power over one another that it is a modern-day "Babel" - with little chance of ever finding consensus of will and purpose.

    Add to that the fact that 1) the educational system has intentionally created a "hole" in the training of Americans so that they are now unaware of their real authority as sovereigns and 2)the government, banks and media are working in lock-step sychronism to make people associate words like American, sovereign, rights, and dissent as being terms of terrorism... it is really, really difficult to see the day when we can peacefully terminate the assumed franchise of the pseudo-rich and powerful.

    Godspeed Iceland!

  8. The moral hazard question is easily answered by abolishing money and moving to gift/resource-based economy. You are worried about the people who paid their mortgage through hard work. You are insinuating that those who ended up with underwater mortgages or fraudulent mortgages didn't work. Where's your proof?

    Shelter is a basic human need. Why must we earn it or "Qualify" for it? To hell with the banks. Money is the biggest moral hazard. Why must we pay to live on the planet we're born on?

  9. Thanks for the advise Sherry, it's great. Life isn't fair and I will deal with it

    Your trite response to me assumes that my life has been a bowl of cherries...that we did an AWESOME job paying off our mortgage. Quite the contrary. My house which is paid off, is now worth at least $50,000 less than what I paid for it--who will give that money back to me? No one. And those people who think that I am implying that those who do not pay off their mortgages are lazy are projecting because I said nothing of the kind. I am as screwed as all of you people because they HAVE MY MONEY AND I WILL NEVER GET IT BACK.

    anon 7:07 karen

    1. Karen,

      Stop complaining and help out.

      Stop pretending that you live in a world that is fiction.

      Open your eyes.

      Your arguments jeopardize what civilization the western world has left.

    2. it is good to know so many people are concerned regarding the countries debt and bad banking decisions.. what would behoove all of you tho is to get more knowledge as to how the "government" {bka. bankers n politicians of the Corporation of AMERICA) operate under Admiralty/ military law for crimes commited and under Uniformed COmmercial COde for finances.. The truth of the matter is you can be a paramount creditor to every transaction that happens in america regardless of whose bank you are using. This means nothing aquired by you can be taken by them. and furthermore what was taken by them via your energy can be returned.. if you are interested check out the Secured Party Creditor process.. or hmu at we can control our own country by taking this first step and organizing a network of business by us and for us.. i wouldnt rob my self or take money out of my circles to place it with someone who doesnt give a fuck about me.. right now thats what is going on.. GOVERNMENT has a TRUST via YOUR SSN.. Established under implied consent is a ENS LEGIS a corporate figure(strawman). its a trust. that trust has things happen to it in commerce and the ledger watchers (irs n gov) collect on the creditor side while you the debtor kick out the funds. SO you work n get paid thru funds all ready available to you..

  10. tax the banks and give the hard working mortgage payers some percentage of their money back. duh.

  11. This all sounds like a bunch of Occupy "Social Justice". I thought this blog wasn't that stupid.

    1. Couldn't agree more.
      It's my first (and last) visit here.
      The name of this place should be 'Gimme-Gimme-Gangland'
      Pathetic . . .

    2. Seems to me, those who stand up to the banksters and puppets in the government for all the fraud they commit upon the people are called all kinds of names.

      So... you both are saying, just go with the fraud and take what ever the politician puppets give to you and lay down. You are saying the people should not stand up for themselves and what the banksters and puppets are doing.

      Twist it to how you want and call it what ever you want. But I know what this is all about, and it is about Freedom, not "Gimme." It is about stopping the stealing from the people of all of their money by the banksters and politicians.

      You do realize governments of the world are taking the people's retirement accounts, don't you?

      So that is okay for the governments and banks to take the people's money but it is not okay for the people to stand up against the fraud of it all, in your eyes?

    3. You're all over the place.

      Here's the long and short of it, - - forgiving debt from one group of people is only done by stealing from another.

      You claim to be against wrong, - - yet you openly condone it.

    4. On a side note, - - I've looked over the rest of your site and take back my somewhat derogative comment about it.

      Although I do heartily and steadfastly disagree with yours, (and most here), views on handouts, - - it seems to be just a quick snapshot of your whole site.

      So my apologies on that.

      Back on topic, - - I own my own share of indebtedness, - - but would never expect it to be forgiven. I took it on willingly, and will repay it in the same manner.

    5. Honestly people, (Nice work Sherri!)all money is imaginary computer blips now. NOTHING backs it besides our belief in it's value and existence. Only 3% of ALL the "Money" in the world is in ACTUAL cash and coins. That means 97% of what we call "Money" simply does NOT exist except by HOW we believe it does.

  12. Those who HAVE PAID OFF their mortgages are NOT condemned.

    Now that the mortgages have been declared ILLEGAL, those who have paid off their mortgages can group together in a CLASS ACTION LAWSUIT against the banks/mortgage holders!

    Yea we all win!

  13. Iceland is now the land of the free and the home of the brave.

  14. The people who did the right thing and paid back their loans can sleep at night. The banks however created a ponzi scheme. Some people played it by leveraging up and contributed to pricing others out of the market. It takes two people to make fractional lending work. A borrower as well as the lender.
    There were two people once. One bought heroin from a drug dealer and one did not. When the addict became sick he blamed the dealer. In this case the person who does the correct thing and does not use heroin is made to pay for the rehabilitation and to clean up both their messes.

    Blaming the banks for their part is fair but we should not misidentify the victim in the story.

  15. I have stated several times that it would be far less a economic catasrof if the Govermment of USA simply gave the houses that are emty away to anyone or to the people living/owing it right now.

    Thats a minute cost compared to the fu..up and mindboggeling level the depth of the USA is in right now.
    The fact is and if I undrstudd it correctly from Iceland, because the game was rigged, the housing marked rigged, the exremly low intress and combined with a "artificial, by def. depth based growth" created a Boom in the tiny Icelandic country.

    A bobble.

    The Bailouts where the absolut biggest mistake done by the Icelandic people, the dont owe anyone, anything.
    They have the most important issue under their own hands,the country Iceland and its own Curency.

    This singe issue, and the policys of R.Paul wil turn USAs economy around within just a few years.
    But continue to trusth your haeds deaper into the pile of shitt, the robberbarons and their hendgmenn have left for you.
    And they may treat you, like a "almoust" human, a good Goyim.

    So doggy doggy, go home and with for your masters voise.

    This can without doupth be adopted by the people of the USA, some day, if you seatch long anouf, you may fing something like balls.
    One day.


    “Man will never be free until the last king is strangled with the entrails of the last priest.”
    ― Denis Diderot

  16. “Man will never be free until the last king is strangled with the entrails of the last priest.”
    ― Denis Diderot
    Sorry 5.06 but Denis did not look hard enough because kings and priests are a manifestation of the perpetual nature of man. This is why an almost always unpopular or tyrannical minority rule over a majority. There is sometimes an occasional man like Ron Paul who could be a good king. Within the possibilities that our natures allow, men can more or less rise above their surroundings. Jesus Christ a shining example.

  17. Sherri, thanks for sharing this.

    Anonymous, you wrote:

    "Here in the states, there are so many diverse socio-political elements vying for power over one another that it is a modern-day "Babel" - with little chance of ever finding consensus of will and purpose."

    Your description of the many diverse elements vying for power as a "modern day Babel" is right on target. Babel and Babylon signify total confusion. Usury banking was perfected in Babylon, which symbolizes the futile attempt of the oligarchs to enslave mankind.

    The Babel of financial insanity is destined to fall. Hidden in plain sight in the Bible is a prophecy that at an appointed time in the future, there will be a great awakening and world wide debtors revolt.

    The Vision of Habakkuk, written around 620 B.C., reveals that this great awakening of the debtors is the key event to the collapse of a secretive world-controlling system that has been plundering the wealth of nations throughout history.

    Habakkuk was instructed to write the vision in big letters on tablets, making it plain (easy to understand) so that all that read it can run with it, communicating the message to others:

    Write the Vision and make it plain
    upon tablets, that he may run that reads it.
    For the Vision is for an appointed time.
    And it is not a lie. Wait for it, because it
    Will surely come to pass, and not delay
    When the time is right.

    Here is the core of the prophecy announcing the great awakening:

    Woe to the proud, who has taken what is not his,
    Making himself rich with loans.
    Suddenly the debtors will awake, as a man out of sleep,
    And they will bite him back, in an instant.
    As he has ruined the nations, so the nations will ruin him.

    The prophecy further declares that when you first hear of it, that you will not believe it, but that it is not a lie. When this event does occur, it will be a wonderful providential blessing for all mankind.

    It is prophesied and it will happen. Maybe it is starting already.

  18. those who say the banksters should be let go because some people worked hard and paid their mortgages suggests that people who did not pay their mortgages did not work hard so they deserve their lot--that is classic syllogistic logic--in other words--NOT LOGICAL---and, besides, a better solution would be to force these criminal enterprises to repay EVERYONE who took out a mortgage plus interest and punitive and pain and suffering damages for knowingly writing such contracts and tricking people into signing documents they had no way of understanding--that is fraud right up front as it takes two people understanding and agreeing to a contract to make it legal even, much less lawful even in their own UCC unlawful but legal admiralty law that ought not to apply anyway since houses are usually built on land--not sea.

  19. Truth - The RC bank cartels are aiding Rome in grasping for the 'tiara' (all power temporal).

    Truth - No one I've seen is placing the issue in proper context...that of ongoing counter reformation at the expense of base Liberty.

    Truth - Iceland is the only nation (so far) to have limited the impact to 1/10th of what it could have been. IE...Rome taking ALL of the solvent pension funds and mortgages along with the "bad debt", as they have in their Requirimiento against the uSa and other nominally 'protesting' Nations of the West.

    The more things change, the more they stay the same.

  20. The Old Issue

    by Rudyard Kipling
    October 9th, 1899

    “Here is nothing new nor aught unproven,” say the Trumpets,
    “Many feet have worn it and the road is old indeed.
    “It is the King—the King we schooled aforetime !”
    (Trumpets in the marshes—in the eyot at Runnymede!)

    “Here is neither haste, nor hate, nor anger,” peal the Trumpets,
    “Pardon for his penitence or pity for his fall.
    “It is the King!”—inexorable Trumpets—
    (Trumpets round the scaffold at the dawning by Whitehall!)
    . . . . .

    “He hath veiled the Crown and hid the Sceptre,” warn the Trumpets,
    “He hath changed the fashion of the lies that cloak his will.
    “Hard die the Kings—ah hard—dooms hard!” declare the Trumpets,
    Trumpets at the gang-plank where the brawling troop-decks fill!

    Ancient and Unteachable, abide—abide the Trumpets!
    Once again the Trumpets, for the shuddering ground-swell brings
    Clamour over ocean of the harsh, pursuing Trumpets—
    Trumpets of the Vanguard that have sworn no truce with Kings!

    All we have of freedom, all we use or know—
    This our fathers bought for us long and long ago.

    Ancient Right unnoticed as the breath we draw—
    Leave to live by no man's leave, underneath the Law.

    Lance and torch and tumult, steel and grey-goose wing
    Wrenched it, inch and ell and all, slowly from the King.

    Till our fathers 'stablished, after bloody years,
    How our King is one with us, first among his peers.

    So they bought us freedom—not at little cost
    Wherefore must we watch the King, lest our gain be lost,

    Over all things certain, this is sure indeed,
    Suffer not the old King: for we know the breed.

    Give no ear to bondsmen bidding us endure.
    Whining “He is weak and far”; crying “Time shall cure.”,

    (Time himself is witness, till the battle joins,
    Deeper strikes the rottenness in the people's loins.)

    Give no heed to bondsmen masking war with peace.
    Suffer not the old King here or overseas.

    They that beg us barter—wait his yielding mood—
    Pledge the years we hold in trust—pawn our brother's blood—

    Howso' great their clamour, whatsoe'er their claim,
    Suffer not the old King under any name!

    Here is naught unproven—here is naught to learn.
    It is written what shall fall if the King return.

    He shall mark our goings, question whence we came,
    Set his guards about us, as in Freedom's name.

    He shall take a tribute, toll of all our ware;
    He shall change our gold for arms—arms we may not bear.

    He shall break his judges if they cross his word;
    He shall rule above the Law calling on the Lord.

    He shall peep and mutter; and the night shall bring
    Watchers 'neath our window, lest we mock the King—

    Hate and all division; hosts of hurrying spies;
    Money poured in secret, carrion breeding flies.

    Strangers of his counsel, hirelings of his pay,
    These shall deal our Justice: sell—deny—delay.

    We shall drink dishonour, we shall eat abuse
    For the Land we look to—for the Tongue we use.

    We shall take our station, dirt beneath his feet,
    While his hired captains jeer us in the street.

    Cruel in the shadow, crafty in the sun,
    Far beyond his borders shall his teachings run.

    Sloven, sullen, savage, secret, uncontrolled,
    Laying on a new land evil of the old—

    Long-forgotten bondage, dwarfing heart and brain—
    All our fathers died to loose he shall bind again.

    Here is naught at venture, random nor untrue—
    Swings the wheel full-circle, brims the cup anew.

    Here is naught unproven, here is nothing hid:
    Step for step and word for word—so the old Kings did!

    Step by step, and word by word: who is ruled may read.
    Suffer not the old Kings: for we know the breed—

    All the right they promise—all the wrong they bring.
    Stewards of the Judgment, suffer not this King!

  21. HAARP is charging up right now.

  22. If we do not stand up now and follow Iceland's lead we will all be in the the grip of tyrants for the rest of our lives. They are in every branch of government, the media, Police, the WHO, UN and every other place that they need to take over the world, it's now obvious to anyone with a IQ above mud. Let's stop pretending we have governments, we don't we have Corporations and they are not for our benefit.

  23. Ken Livingstone sparked outrage after calling for Londoners to "hang a banker a week" until the industry improves. Hmmmmm!!!

  24. This won't happen in the U.S. We are the country where all of these phony financial instrument orginate from. They would sooner lock the American taxpaying public up than screw Wall Street, and is why Americans don't get it. Replace the WHOLE SENATE, CONGRESS AND WHITE HOUSE with people that swear to serve the American people. There are millions of honest educated people in the U.S. that could easily replace the bankers Wall Street insiders and Congress.

  25. well i worked hard to pay off my mortgages, and glad i did i was one of the fortunate ones..not everyone is as lucky as others, and helping those less fortunate is the right thing to do.. in the arab world they gt loans without interests, that is how it should be, and they do not pay income tax the companies pay them. but now that we are slowly destroying their way they will be just as bad as us.. the banksters need to be destroyed once and for all. they do not own my money, and if i do not want to use a bank it should be my right and hold my thousands of dollars in my own safe.. and when i pay cash i should not be asked as to where i got my money, its mine and i worked hard for it. they dont need to keep my records i can do my own record keeping.. man i could go on and on, but i think i made my point

  26. But who's going to pay for this at the end of the day?

  27. wasn't this video shown to be fake?

    1. Where did you read or see that? It is from the Spanish "El Mundo" news network. I have not seen anything saying or proving it is fake. Why would El Mundo put out fake news? Just because MSM does not mention it, doesn't mean it didn't happen.

    2. hey sherrie

      there's a post from an icelander telling us it's false a few comments down

      I found out it was fake yesterday....from comments on youtube

      keep questioning....also keep your bullshit detector working....there's a lot of disinfo on the web now more than ever


  28. forgiving debt only weakens the gene pool. the strong (the wise), who have no debt, must be rewarded somehow. those whose debts were forgiven to the banks owe a debt to iceland. they need to contribute their time to making the country a better place. those who have no debt can watch.

  29. Your mortgage was paid the instant you signed the note. The money came from your birth certificate bond which was created at your birth. You have millions if not billions in your DIRECT TREASURY ACCOUNT that they do not want you to know about under HJR 192 of 1933. Look up Winston Shrout on YOUTUBE. {YOU HAVE A BOND} Become a SECURED PARTY CREDITOR and discharge all debt. America went into bankruptcy again in 1933. There is no money to PAY for anything. You can only discharge it.

  30. So as to the question of 'moral hazard' on loan forgiveness [ie, the hard working ones paying off mortgages versus the ones getting forgiveness on loans] ~ this moral hazard is only seeing 'one side of the trade'.

    so the other side of the trade would be that with less mortgage debt in the system, and less overall debt then PRICES for homes remain stable. So for all those that 'PAID' off their house, they will see a stable selling price versus the alternative of 'falling' house prices which is the result of over levered indebtedness.

    so as a result, there would be NO reason for governments and central banks to pick sides [banks versus savers], and drop interest rates to ZERO, and suspend accounting rules in an attempt to have private banks look solvent

    So all home owners are benefiting, and savers are benefiting, and the moral 'rightness' [over frauds and scams] of the people benefiting.

    So Who 'SHOULD' be complaining are RENTERS, as they will see no reduction in rent payments as a result.

  31. This is a great first step for the world to see as we witness the bankers stripped from their fine silk suits into orange prison outfits.

    They have financially sodomized the world for their own profit and money changed themselves into the pit they have fallen into.

    One thing to do before the trials, is seize their assets and return all the money they have looted for years, back to the people.

    Try this plan below for a world wide model of justice;

  32. Sigh, I cant believe this video has gone so viral that it’s up on Infowars.

    Let me start by saying **I AM ICELANDIC**
    This video simply IS NOT TRUE
    It is NOT TRUE!!!

    I will link you three REAL websites that carry Icelandic news in ENGLISH (no I'm not affiliated with any of them)
    Do you guys really think all three sites would not mention HUGE piece of news like this if it was true?

    grapevine dot is

    icelandreview dot com

    icenews dot is

    I know Iceland has been built up on the internet as some sort of poster boy for how to do things vs the banksters and some of that has been inaccurate but this has gone way too far now. That video is NOT TRUE!

    I saw that video last night and laughed at it and thought nobody could possibly pay attention to that crap. I wake up this morning and it's all over the place without anyone questioning anything. One source for huge piece of news like this and you just run with it without even checking local websites? hah!

    Check all the icelanders in the comments on youtube, they are all saying the same thing!

    1. Why would "El Mundo" put out news like that, if it was not true?
      I linked to the El Mundo video of that news and have taken them at their word for it, since it is a news media outlet.

    2. I cant speak for El Mundo but this seems to be based on a misunderstanding of a recent supreme court ruling which says that a part of certain types of loans should be lowered. However the part that is suppose to be lowered is the part that went up in the crash. They are simply saying that the increase in these mortgages was not legal.

      The banks however… don’t give a crap. They are doing business as usual and these reductions in loans have not been implemented by them. Even if these reductions do happen they are just decreasing the loans by the increase that happened a few years ago it is not wiping out anything else, if it wipes out anything at all. Like I said, so far the response from the banks to this ruling has been basically giving the population the middle finger.

      So to take a really simple hypothetical example, if you owed 1 million before the crash and owed 1.5 million after the crash then this court ruling says you now owe the original 1 million instead of the bloated 1.5.

      The reason some loans went up after the crash was because they were tied to foreign currencies and during the crash the local currency, the Krona, crashed. This meant that people that had their loans tied to foreign currencies all of a sudden owed way higher amounts than before. This increase due to the crash of the Krona is what the supreme court ruling was about.

      And the banks have not implemented this yet and nobody knows if they actually will do so or will just continue with the middle finger response.

    3. Okay I realize it is hard to believe some anonymous poster in the comment section over El Mundo.

      It can be hard for a foreigner to navigate an Icelandic news website. So here's what I'll do, I'll gather up and list all the major news websites below along with phone numbers and email addresses taken from their websites (public info) and anyone reading this can simply get in contact with them and ask them if that video is true: (this is the government run news agency, has TV, radio, websites and more)
      news email:
      news phone: +354 515 3030 (Biggest private one, has TV, radio, websites and more)
      news email:
      news phone: +354 512 5313 and +354 821 7556 (mouth piece for the biggest political party in Iceland (not in power atm), mostly consisting of that website and a failing news paper)
      news email: and
      news phone: +354 569 1200
      news email:
      news phone: +354 510 2225
      news email:
      news phone: +354 510 2235 (kinda like The Sun in the UK, trash)
      contact page:
      news phone: +354 512 7010
      contact email: (the whip)

      Below are the three websites I know of that post Icelandic news in English:
      news email:
      phone: +354 512 7575
      phone: +354 540 3600

  33. When there is a ball, there has to be a hole. When there is For, there has to an Against. When there is birth/beginning, there has to be death/ending. Reality, therefore, is not about the cycle/transience but about that which has no cycle/permanence.

    No human ever lifted a finger towards his evolution but all lifted their fingers to realise their devolution. Just because someone worked, does not mean he deserves anything other than reality/permanency-of-construction. Similarly, just because you had paid for it, does not mean that the animal, whose meat that you are eating, deserves to die for your, "Cos I can". Paying for something has little meaning when it is for promoting The Living-but-Dead.

    Reality is that which promotes The Living and when it comes to living collectively, earning money to get ahead has little meaning when one has to Snip The Mortal Coil one fine day. Who had permission from Mother Earth about buying land for his house? When there is nothing real to buy, what is earning more than others so that "I can" means? It means playing the game of The Living-Dead.

    As The Bhagavad Gita relays [bear with it, hokay?] about the moment when Arjuna laments/hesitates about having to kill his brethrens, Krishna relied that, "Who are you killing when they are all already [The Living-]dead?"

    Divinity/Reality empowers through Sharing & Unity whereas Humanity/Relativity empowers through Exclusivity & Division, Divinity not being of Religion & Religiosity, oka Belief & Belief System but of fact/tangibility/reality. Realise this and soon, mortgages, mine, yours, Capitalism, Communism, and more will become one of, "Because they can", and not, "I Can". Above all else, that is moment when the Desire for Purity gives way to Purity within Desire. Without realising this fundamental position, no human can truly evolve.

  34. Come on people stand up for yourself with us all together, why are we not yet united as one, forget about any differences we have, we are one.I am starting protest in London who will join, Its the day of St Bernadette on monday, come on lets do just that Burn a debt. Jesus came to free us from slavery, debt is slavery, does it not say in the Lords Prayer, Forgive us our Debts, as we forgive our Debtors. The world is changing, but let us make it for good and for the way God has made us, we are all brothers and sisters, do families not fight and argue with one another and then make up, we are a family, that will not be bullied again, by those who are not of our family.

  35. "The weakest amongst any society will always cheer it's road to destruction."

    1. Actually the people are the strongest, they just don't know it. We are much stronger than those who try and control all things. If the people stood up to the tyranny and fraud of the banks and governments, than we would win. Through our thoughts and actions we create all. If we stood together, all people of the world our strength would end the rule of the puppets of bankers of the world.

    2. All bankers are not evil any more than all unemployed are not lazy.

      Cheering blank handouts may be a quick way to bring a society down, - - but good luck finding someone to whine to when you attain such fool wish.

    3. Standing up to tyranny is best served by others than tyrants.

      A government taken over by those who demand free ice cream is scarier to me than the multi-faceted corrupt inferno we already have.

  36. there is a thing called land patent and if i knew this before i got a mortgage on my home i would not have a mortgage because a land patent is the only title that allows you to really own your property,if this was exclaimed before i got a mortgage i could be owning my land without paying taxes and anyone who sued me can not touch my land,this is where you own your property for real,so just because you payed your mortgage you just paid the debt of mortgage not the debt,or rent that you still have to pay for land are still in debt every year or you will lose home

  37. I love these people who prefer that banks get houses for "free" rather than their neighbors.

    There is a work around for this though:

    1) You own your house free and clear already -- Good for you!

    2) You own part of your house and you want to own the rest -- you have to transfer (tax free) your other paper assets (IRA's, stocks etc.) to the bank for the outstanding balance on your mortgage.

    3) No money, just a house underwater? Lender who provided a high risk mortgage needs to take a hit. Ownership reverts to U.S Treasury (who is going to need money if the banks end up with more US T bills than they'd like from item 2 above). You rent house from US Treasury. Your payment by law has to be used to pay down the Federal debt. Those who've paid off their homes benefit indirectly from this public debt reduction.

    4) Optional. Some people obtain ownership of home even thought they had an outstanding mortgage principle. Ownership deed has a lien that if the house is sold the proceeds go to the bank to pay off the principle that was written down. There is no interest accrual. Banks/lenders are incentivized not to further debase the currency unit of measure.


  39. There is about $9 trillion in US mortgage debt. The banksters demanded and were paid $27 trillion in secret. They floated a large sounding number, $700 billion, to the masses and then claimed it was paid back.

    It was never that amount and they repaid nothing.

    Iceland is right and we can do the same. Start by putting Dr Ron Paul in the White House. A friend of mine was driving Ron Paul from the airport to a campaign stop. He asked him what would happen to our large national debt when he eliminates the Federal Income Tax. Ron winked, shrugged his shoulders and said, "What debt?"

    If the 16th amendment was never ratified, and it wasn't, the banksters have no leg to stand on when the Federal Reserve is dissolved. They will scream and shout, Israel will threaten to nuke us but we will give them an Iceland one finger salute.

  40. Whether or not the video is true and whether or not one has payed his or her mortgage is not the real issue. The real issue is that all people everywhere must take a stand and actively oppose our banker controlled world. Fiat currencies and fractional reserve banking are the scourge of mankind and is the only source of the bankers power.

  41. Now, I want to buy several houses and wait for my debt to be forgiven so I will get them all for free.

    1. Too bad you just cant do that, that is pretty much kigali to own many houses under loans.

  42. I agree with Anonymous, and Anonymous!
    Many people worked hard to pay off their loans, myself included, I did not get in over my head, I made a large down payment thus kept my mortgage low, I bought a reasonable house, not a huge one... mind you I do not know the size of the average home in Iceland.
    People need to have money management skills, many who failed to pay off their mortgage may have failed because instead of paying off their mortgage they paid for a cell phone, a huge truck, new shoes, fancy dinners in restaurants, posh vacations, booze, smokes, who knows what, but it is an insult to those who were responsible and paid off their mortgage when others get it for nothing. A better idea would have been to send an equal check to everyone, with those who had mortgages being required to put the check towards the mortgage, that way nobody is punished or rewarded unfairly. If you take out a loan you should expect to pay it back.
    Good blog, enjoyed.

  43. OMG I love these PEOPLE, totally restores my faith in humanity GO ICELAND!!!!

  44. Hey, I've got an even better idea! Let's just say to everyone in the United States, "Nobody owes anything"! Period. Your house, your vehicles, your toys, your credit cards, all private notes and debts, doctor bills, judgements, leins, child care, alimony EVERYTHING IS FORGIVEN and everyone has a clean slate! And, we tell China to go pound sand! By the same token, we eliminate all "freebies", such as welfare, food stamps, and EVERY other service provide by government. No one will have ANY debt, and no one will have an expectation of any more freebies. You are debt free, so everyone should be fine, right. Institute a "fair" or "flat tax" and eliminate the IRS! You pay your taxes when you spend the money YOU EARN! And to survive, YOU MUST WORK, because welfare as we know it is gone! How about that?

  45. A Banksters defeatism nightmare, Being forced to Return to Real Money=United States Note=Lawful Money. The real reason you pay an income tax, is for the privilege of using a private currency. Also known As A: Federal Reserve Note, Demand from your bank or brokerage, lawful money and the tax goes away, with a tax exemption on lawful money, all of your money is yours. Use the Remedy within the Federal Reserve Act. Stop being a Slave!!!!!!
    Tax Exemption: Web search these four different phrases: Redeemed in Lawful Money or United States Note or Redeemed in Lawful Money Pursuant to Title 12 USC §411 or deposited for credit on account or exchanged for non-negotiable federal reserve notes of face value

  46. "And what of those that paid their mortgage in full through hard work?"

    A hesitant lifesaver could use the same argument: "Isn't saving this kid drowning in the river unfair on all the previous kids who didn't get saved?"...

    I cannot believe all of the torturous logic going on in this comments thread: "TFB" says one particularly repugnant shit to a guy who reasonably ponders the question of what happens to the frugal saver who lived within or beneath their means in order to save for a downpayment or the guy who worked and paid off his place. Yeah! Spoken like a true loser with the ultimate sense of entitlement. No wonder the rest of the world looks upon America as spoiled rotten little dickheads.

    I'd actually developed a certain level of sympathy for some of the assholes who bought houses they couldn't afford during the bubble, even though I knew that the majority of them were just showboaters, buying into the hype or small time speculators, flipping boogers to one another. However, thanks to the comments, I've stanched my bleeding heart. You can all go fuck yourselves.

  47. This is a great victory for people, but what am I to gain, I am 89 years old and have paid my mortgage and am living on SS and a small savings that I have left. But I think it is a victory for our children grand children and great grand children and all future geneerations. We have to think of them and not just ourselves, after all the service men that died in service didn't gain anything but future generations did and we have to be thankful for what they did or we never would have known freedom, so lete do what we can to preserve that freedom.

  48. How is this not stealing? To knowingly sign a contract to buy a house for X amount of money, making Y amount of payments each month, for Z number of months...then POOF, you're just allowed to STEAL the house?

    As someone who owns a paid-for house, I would feel like a real chump if this happened in the USA. Apparently, the thing to do is to wildly over-extend my credit and buy the biggest house I can possibly afford in the very best neighborhood, and then get "debt forgiveness."

    Again, how is it not stealing to agree to buy something, then once you have possession of it, refuse to pay for it???

  49. I feel its not important whether the Iceland thing is true or not its the idea that it can happen, and the more people that get behind that idea the better off our world can be by a world free from all debt. With it comes freedom from starvation, wars, violence discord and deceit for if you are fed clothed sheltered and happy with your world why would you need to be greedy discordant and unfulfilled.

    I too have been debt free for some time through hard work and diligence but would be absolutely delighted for those who have debt to be forgiven it no matter how or what their situation was, for I would prefer to have a world living in harmony together as one than living in one that is filled with separation, judgement, and mistrust maintaining continual chaos and discord...

  50. nice idea.. thanks for sharing.

  51. The Socialist Anti-Semitic Myth of the Creation of Money out of Thin Air