STOCKHOLM/REYKJAVIK, Oct 7 (Reuters) – Iceland’s central bank said on Tuesday it would peg the island’s crown to a basket of currencies at a level of 131 per euro effective immediately, confirming earlier reports.
Archive for the ‘Uncategorized’ Category
Iceland c.bank says pegs crown to Euro
Posted by seumasach on October 8, 2008
Posted in Uncategorized | Tagged: bankrupt iceland, euro | Leave a Comment »
Iceland should turn to the IMF, not Russia
Posted by seumasach on October 7, 2008
A E4bn loan from Russia might make financial sense – although Russians might think otherwise given Moscow’s shaky finances. But it would create strategic ructions. Iceland is a NATO member, but Russia would want something in return for a loan equal to almost a third of the tiny state’s GDP. The US would fret this could eventually mean a Russian military presence in the North Atlantic.
These Telegraph fuddie-duddies, like the ensemble of British punditry, have yet to grasp that the game is up, that support is coming from the East and that it will come with a geopolitical price. Despite British and US pressure, Iceland rejected IMF “help”.
George Hay
7th October, 2008
It has pegged the krona to the euro at 131 – the rate had swooned towards 200 on Monday – and is searching for foreign reserves. That’s a good idea. Less good is the idea to pass the cap to Russia.
Posted in Uncategorized | Tagged: bankrupt iceland, financial collapse, Iceland Bankrupt, IMF | Leave a Comment »
Will Paulson bail out Iceland?
Posted by seumasach on October 7, 2008
7th October, 2008
LONDON (MarketWatch) — It’s hard to imagine a less politically popular move, but the way things are headed the first recipient of the $700 billion bailout money that Treasury Secretary Hank Paulson has to spend could very well be Iceland.
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Iceland Central Bank Receives 4 Billion Euro Loan From Russia
Posted by alfied on October 7, 2008
If it were the USA lending this money I think the phrase “there’s no such thing as a free lunch” would be to the fore. However I’m am sure the Russians are far too discreet to use such a term.
Oct. 7 (Bloomberg) — Russia agreed to lend Iceland’s central bank 4 billion euros ($5.43 billion) to inject liquidity into the financial system, the bank said. Read the rest of this entry »
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Music Video : The Day Hank Poulson Lied
Posted by smeddum on October 7, 2008
Posted in Uncategorized | Tagged: Add new tag, bailout protest, bailout protest videos, bailout response | Leave a Comment »
Ukrainian Arms Scandal
Posted by smeddum on October 7, 2008
Posted in Uncategorized | Tagged: new world order, Somalia, Somalia pirate crisis, ukraine-russia | Leave a Comment »
Tensions rise, fears of World War Three
Posted by smeddum on October 7, 2008
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Secret Bush Administration Plan to Suspend US Constitution “Continuity of Government” (COG) Provisions activated in 2001
Posted by seumasach on October 7, 2008
Tom Burghart
6th October, 2008
Ten months before the September 11, 2001 terrorist attacks, Secretary of Defense Donald Rumsfeld approved an updated version of the U.S. Army’s secret operational Continuity of Government (COG) plans.
Posted in Uncategorized | Tagged: "War on Terror", controlled demolition of US constitution, northern command | Leave a Comment »
Credit Crisis Update: Rising LIBOR Hints at Bigger Problems to Come
Posted by smeddum on October 7, 2008
Tuesday, October 7th, 2008
Credit Crisis Update: Rising LIBOR Hints at Bigger Problems to Come
By Keith Fitz-Gerald
Investment Director
Money Morning/The Money Map Report
More than a year ago, even before the subprime-mortgage crisis had revved itself up into the full-fledged credit crisis that’s now threatening global growth, we pointed to the London Interbank Offered Rate (LIBOR) and other interbank rates that suggested that the worst was yet to come. Read the rest of this entry »
Posted in Uncategorized | Tagged: credit crisis, LIBOR | Leave a Comment »
Terror as Iceland faces economic collapse
Posted by seumasach on October 7, 2008
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Who will buy?
Posted by seumasach on October 7, 2008
There’ll never be a day so sunny,
It could not happen twice.
Where is the man with all the money?
It’s cheap at half the price!From the Musical Oliver
Henry Paulson has turned into our very own Oliver now that he has gotten permission from the Congress to start peddling toxic mortgage securities and credit default swaps. Soon Old Hank is going to be out on the street corner with his bucket of goodies, glowing bright green with radioactivity. He’ll be looking for the man with all the money, willing to purchase something at half the price, or better.
Posted in Uncategorized | Tagged: financial collapse, parallel banking universe | Leave a Comment »
In These New Times 