Iceland dismantles corrupt government and arrests Rothschild bankers!

REYKJAVIK, Iceland (PNN) - June 18, 2012 - Last week, nine people were arrested in London and Reykjavik for their possible responsibility for Iceland’s financial collapse in 2008, a deep crisis which developed into an unprecedented public reaction that is changing the country’s direction.

It has been a revolution without weapons in Iceland, the country that hosts the world’s oldest democracy (since 930), and whose citizens have managed to effect change by going on demonstrations and banging pots and pans.

Pressure from Icelandic citizens’ has managed not only to bring down a government, but also begin the drafting of a new constitution (in process) and is seeking to put in jail those bankers responsible for the financial crisis in the country.

This quiet revolutionary process has its origins in 2008 when the Icelandic government decided to nationalize the three largest banks, Landsbanki, Kaupthing and Glitnir, whose clients were mainly British, North American and South American.

After the State took over, the official currency (krona) plummeted and the stock market suspended its activity after a 76% collapse. Iceland was becoming bankrupt and to save the situation, the International Monetary Fund (IMF) injected $2.1 billion and the Nordic countries helped with another $2.5 billion.

While banks and local and foreign authorities were desperately seeking economic solutions, the Icelandic people took to the streets and their persistent daily demonstrations outside parliament in Reykjavik prompted the resignation of the conservative Prime Minister Geir H. Haarde and his entire government.

Additionally, citizens demanded to convene early elections, and they succeeded. In April, a coalition government was elected, formed by the Social Democratic Alliance and the Left Green Movement, headed by a new Prime Minister, Jóhanna Sigurðardóttir.

Throughout 2009 the Icelandic economy continued to be in a precarious situation but despite this, the Parliament proposed to repay the debt to Britain and the Netherlands with a payment of 3.5 billion euros, a sum to be paid every month by Icelandic families for 15 years at 5.5% interest.

The move sparked anger again in the Icelanders, who returned to the streets demanding that the decision be put to a referendum. In March 2010, that vote was held and an overwhelming 93% of the population refused to repay the debt.

While Icelanders were refusing to pay a debt incurred by financial sharks without consultation, the coalition government had launched an investigation to determine legal responsibilities for the fatal economic crisis and had already arrested several bankers and top executives closely linked to high risk operations.

Meanwhile, Interpol issued an international arrest warrant against Sigurdur Einarsson, former president of one of the banks. This led scared bankers and executives to leave the country en masse.

An assembly was elected to draft a new constitution that would reflect the lessons learned and replace the current one, inspired by the Danish constitution.

To do this, instead of calling experts and politicians, Iceland decided to appeal directly to the people; after all, they have sovereign power over the law. More than 500 Icelanders presented themselves as candidates to participate in this exercise in direct democracy and write a new constitution. 25 of them, without party affiliations, including lawyers, students, journalists, farmers and trade union representatives, were elected.

For once, the people will decide the future of their country while bankers and politicians witness the transformation of a nation from the sidelines.