Tag Archives: OpEdNews – Iceland’s Hörður Torfason – How To Beat The Banksters

OpEdNews – Iceland’s Hörður Torfason – How To Beat The Banksters – 12 December 2012

icelandDidItAlex Pietrowski , Staff Writer Waking Times

The tiny Nordic European island country of iceland is presently experiencing one of the greatest economic comebacks of all time.  After the privatization of the banking sector completed in 2000, the economy was thrown into a tailspin when over a five year period,  private bankers borrowed 120 billion dollars (10 times the size of Iceland’s economy). A huge economic bubble was created, causing house prices to double, and making a small percentage of Iceland’s population rich enough to buy up overseas investments, mansions, yachts, and private jets, while leaving an absolutely un-payable debt for all Icelanders. Iceland was facing national bankruptcy. Continue reading