Tranquil Iceland is the canary in the gold mine. Their banking system got over-leveraged and all three banks collapsed. Then the krona collapsed. Now prices are rising, lines of credit are being cut and imports are grinding to a halt.
This leaves the island of 300,000 people particularly vulnerable as the grocery shelves are experiencing shortages. As the financial crisis deepens so have the protests. All of this pain could have been averted if a sound monetary system were used. Any recovery will be greatly hindered unless a sound monetary system is used.
A few weeks ago about 2,000 protested outside the parliament building. On November 16, 2008 over 8,000 people gathered around and threw eggs and toilet papered the head government building.
That represents about 2.5% of the entire population. So far there has not been any violence against the government officials who have conspired to steal the wealth of the population. But tensions are bubbling and the size of the protests are growing.
When people get hungry they act differently. In Iceland retirement plans are decimated, the krona lost over 65% with shortages at the grocery store. The criminal Prime Minister Geir Haarde, who aided and abetted this blatant theft of the people's money by the bankers, condemned the behavior of the protestors saying that “a demonstration is in real danger of becoming a riot when the parliament building is pelted.”
However, it appears some of the Icelanders have copied the sign making skills of the French. I suppose this is one route to causing political pain.
So far this year Americans have only had about $10T evaporate from their retirement plans. Additionally, the US Dollar has strengthened slightly. There are no serious persistent shortages in the supermarkets, yet. Unlike the Icelanders the Americans have a tradition in their law, the 1792 Coinage Act, of executing the criminal counterfeiting government officials.
But on November 22, 2008 the nationwide protests will begin at the criminal Federal Reserve buildings. In America given approximately 192 million firearms and about 400 million people a protest of similar proportions to Iceland would include 10 million people with about 4.8 million firearms to hunt the counterfeiting officials.
I know I have visitors from Bear Stearns, Lehman Brothers, Morgan Stanely, Chase, Wachovia, Wells Fargo and many other financial institutions. As they may be unaware I figure that out of respect I should at least mention that several websites, which I refuse to provide links to but do agree with their fundamental rights of freedom of speech and expression even if I disagree with the content of their message, have already begun chronicling the events of those individuals responsible and are complete with pictures, evidence of their frauds, thefts, etc., home addresses and other useful information to identify and locate the individuals.
Given that all bankers are liars and frauds and the sheer number of them I am fairly surprised at how comprehensive the websites appear to be and have even seen the names of some of my friends.
The financial crisis has so far led to major protests of hundreds of thousands of people throughout the world including Iceland, Haiti, Bangladesh, Egypt, China, Senegal, Mauritania, India, the Ivory Coast, Indonesia, Pakistan, Cameroon, Peru, Burkina, Mexico (70,000 in Mexico City), Italy, Chicago, Argentina, Los Angeles, London, Paris and of course New York. The collapse will not be televised.
The causation chain is pretty simple. Inflation leads to shortages and shortages lead to rationing. Hungry and desperate people engage in undesirable behavior. On October 13, 2008 Glenn Beck and Peter Schiff discussed the potential of hyperinflation, civil unrest, martial law and food riots.
Given the just-in-time inventory nature of supermarkets and the 3 day supply of food if supply chains are interrupted then shortages are not unrealistic nor unpredictable. The use of a sound monetary system, like GoldMoney, helps prevent many of these undesirable consequences of violating economic law.
The Posse Comitatus Act was recently altered and according to the Army Times beginning Oct. 1 for 12 months, the 1st Brigade Combat Team of the 3rd Infantry Division will be under the day-to-day control of U.S. Army North, the Army service component of Northern Command, as an on-call federal response force for natural or manmade emergencies and disasters, including terrorist attacks.
The brigade has spent 35 of the last 60 months in Iraq patrolling in full battle rattle, helping restore essential services and escorting supply convoys. Keeping America under control could make Iraq, with its mere 27.5 million people, look like a kindergarten class.
Economic law is being asserted. The tranquil American life may CHANGE. SI SE PUEDE. YES WE CAN.
[caption id="" align="aligncenter" width="419" caption="President-Elect Barack Obama"][/caption]