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This article is written for Icelandic patriots - those active, concerned people who want to 'take back' your country, who have stood in the cold and snow, rain and darkness to fight corruption from the globally controlled banking cabal.
In my view such an evolution can not be done without a sound and honest money system, where the banksters and corrupt politicians can not steal the value of every ISK printed. In fact the entire world is desperate for an honest monetary system, and if Iceland is the first to bring one into existence, I believe there will be the opportunity to, not only offer the world something unique, but also the possibility to attract large amounts of 'real money' and investment income into the economy.
You guys conquered the world once before, why not again?
Tj
A Unique Global Opportunity for Iceland
This two-part proposal offers a suggestion to not only recapture Iceland back from the hands of the world bankers, but also offer something of unique and rare value to the world that could bring a healthy and stable income to the country.
Many people in the outside world salute what the Icelandic people have done since the currency collapse. You, the people on the street, have brought down and changed your government and forced the resignation of your central banker (2009 update - understand a new Central Banker has taken his place), yet unless you go the final distance and replace your monetary system, in the end, nothing will have changed and the global bankers will own the country.
Part One is the recommendation to convert your monetary system to the precious metal (gold) standard, and Part 2 is, once this is established, to offer gold and silver safekeeping services to world-wide investors, and the ability for these investors to earn an income from their precious metal holdings for the first time.
The Banksters and their crowd of friends, will say a currency backed by gold and silver can not work and they will have a thousand reason for their opinion, but the base, underlying, reason why they say this, is they can not steal value from a monetary system backed by precious metals. They play on our ignorance about paper money. We don't understand why it always goes down in value (inflation), but more importantly, we don't understand how they profit and steal our wealth through this continuous inflation. Our ignorance (world-wide) has caused so many transfer of assets to these elitists.
Today, Switzerland, the largest producer of gold bullion coins and bars for private consumption, has had to treble its production to keep up with this growing demand. Investors around the world are getting very nervous about all this worthless paper money being printed every day by the trillions, and investors are returning to 'real money', which has held its value for millennia.
Gold and silver are money. They have always been money, and always will be money. What is Egill's treasure worth today? At a very minimum, the current value of gold and silver multiplied by the weight of these metals in his treasure. Gold and silver are just as much money today as they were when Egill sailed to Iceland. Or from another viewpoint, if gold is not money then why does the IMF own the 3rd largest holding of gold bullion in the world?
So, Part One of this paper is the suggestion to take the current money in circulation (ISK) and buy gold and silver with it all, and then coin and mint silver and gold coins, and issue new paper notes, which are 100% exchangeable into either gold and/or silver. In doing so you will have converted your monetary system to the precious metal standard, usually referred to as the 'gold standard'.
What about trading with the world at large? Other countries would readily accept your gold for payments abroad, and when Iceland would receive payment from other countries in fiat, paper money, the suggestion would be to immediately convert that money into gold and silver and add to Iceland's money supply.
Reference outstanding debts a 'line in the sand' would have to be drawn. For example, you might agree where there has been a 'real loan' of actual savings lent from one party to a second party that these loans are honoured and remain in tact. For bank loans where the banking system created the money out of thin air (fractional reserve lending), say for a mortgage, that these loans be forgiven and permanently retired as a number of South American countries have done before. Debts that you wish to repay but can not afford to repay at this moment would be deferred until the economy is back into positive growth.
Part 2: Iceland's Very Unique Business Opportunity
Currently, there is one disadvantage to owing gold and silver. Investors receive no “income” from owing metals as neither gold or silver pays interest or dividends, and so there is a cost to owning them, which is called safekeeping fees. People must pay to have it safely stored away.
If your new ISK currency is guaranteed exchangeable into gold and silver, investors can bring their bullion to Iceland and for the first time, have an option to earn an income from their bullion by lending it out to the Icelandic people and local businesses. Let's work through an example and look at the roles of bankers, depositors and borrowers.
Under the new monetary system, banks and bankers would have very different roles than they do today. They would be the safekeepers of people's savings, for which the banks would charge a fee (they like that part), but now they can only loan out money from real deposits if the depositors allow them to do that. They can no longer create money out of thin air and employ fractional reserve lending (they won't like that part).
Depositors can have either New ISK currency, or gold and silver bullion on deposit, for which they will pay a fee. The depositor can elect to have all or part of their money loaned out to Icelandic citizens (the borrowers), and in doing so would receive an income from their deposits. In this case, a borrower would pay nominal interest costs, say 2%/year. This income would be collected by the banker and split between the bank and the depositor.
On a gold holding worth $10 million dollars, an investor, or depositor could earn $100,000 per year from loaning out his gold (1%), that up until this point in time has never paid him a cash return. The banker would also earn $100,000 (1%) for arranging the loan and collecting the payments, and finally, the Icelandic borrower would have access to $10 million New ISK credit at a 2% borrowing cost.
There are literally hundreds of thousands of investors from all over the world who would come to a country with an honest monetary system, and bring their money and their gold and silver, which could be invested into the people and the infrastructure of that country. It could mean thousands of jobs for Icelanders, and it would allow people access to large amounts of real money at low interest rates.
It is important to state this is not a suggestion to offer a tax haven or any kind of tax shelter situation to hide money, but rather to purely offer a safe country for global investment.
This final struggle to 'get Iceland back into the hands of the people' is the challenge before you. The bankers of the world will yell and scream and their paid-for politicians will do the same, because they already believe that they own and control your country. It is the humble belief of this writer that what you have gained already came from the 'people in the street', and it can only be those same people who can take on the world's bankers and ultimately win back your country.
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