“Banking was conceived in iniquity, and born in sin. Bankers own the earth. Take it away from them, but leave them the power to create money, and with the flick of a pen, they will create enough money to buy it back again. Take this great power away from them, and all great fortunes like mine will disappear. And, they ought to disappear, for then this would be a better and happier world to live in. But if you want to continue to be the slaves of the bankers, and pay the cost of your own slavery, then let bankers continue to create money, and control credit.”
Sir Josiah Stamp, former president of the Bank of England
Until last spring, Iceland’s economy had the fourth-highest gross domestic product per-capita in the world. Unemployment rates were between zero and 1 percent, but forecasts for next spring are as high as 10 percent.
The country’s banks have failed and its currency has plummeted in the last month. Inflation in Iceland is at 16 percent and rising. The krona, a year ago, was at 65 to the dollar; now it’s 130. “No country has ever crashed as quickly and as badly in peacetime,” said Jon Danielsson, an economist with the London School of Economics.
SAVING ICELAND’S ECONOMY
Every “monetary” system subject to interest ultimately terminates itself under insoluble debt.
The problems of no country subject to interest therefore are unique. To arrest further multiplication of debt, you must eradicate interest. To restore an unaffected, natural monetary state, you must re-finance all debt without interest, crediting principal for all payments made by debtors (up to the remaining value of the subject property). All equity can be financed; and unlimited further funds are made available, not by monetizing existing assets/wealth, but by monetizing the new wealth by the natural relationship between true creditor (producer) and debtor.
Only countries which do so can pay off their debt and be without debt. As the Hazard Circular testifies, the brains and wealth of other nations will go to such nations, because there alone can brains, productivity, and wealth prosper.
Rather than suffering collapse under irreversible multiplication of debt, every country transitioning to mathematically perfected economy? therefore will inherently have to devalue all currencies subject interest. Monetary failure is not engendered by representing the people; it is engendered only by preserving systems of exploitation, even as those systems impose failure.
In terms of the goals of solution, being President of Iceland is no different than being President of the United States:
- Iceland’s economy crashes
- [?KEY?]??IF I WERE PRESIDENT ??HOW TO ARREST WORLD WIDE MONETARY COLLAPSE IN A DAY
- SYNOPSIS ??MATHEMATICALLY PERFECTED ECONOMY? REDUCED TO ITS BAREST THREAD
- PROBABILITY AND TIMELINE FOR WORLD-WIDE ECONOMIC COLLAPSE AS A CONSEQUENCE OF INTEREST
- EVALUATION OF JEFFERSON’S OPINION ON THE CONSTITUTIONALITY OF A NATIONAL BANK
“To find the players in all the corruption of the world, ‘Follow the money.’ To find the captains of world corruption, follow the money all the way.”
mike montagne ??founder, PEOPLE For Mathematically Perfected Economy?, author/engineer of mathematically perfected economy? (1979)
? COPYRIGHT 2008, by mike montagne and PEOPLE For Mathematically Perfected Economy?.
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