Iceland forgives mortgage debt of its population

[InTradePro]

Iceland forgives mortgage debt of its population



Is this going to start a trend? Mortgage debt to be forgiven?

 

[WilliamC]

It has begun...

 

[Seraphim]

Iceland leading the way.

Debt jubilee around the world.

 

[Carson]

Eminent Domain is also still around.

A two edged sword. It can takith and it can restorith.


I think a while back they turned down being bailed out. I don't see that article but I did come across this one that tells some of the politicians and their people.

http://www.guardian.co.uk/commentisfree/2011/nov/15/lessons-from-iceland-people-power


This article also mentions Iceland and the default...buuuut it sort of makes it sound like the IMF's idea.???

IMF says targeted debt reduction policies can work

 

[Zippyjuan]

Haven't found any real confirmation on this yet. Nothing on Icelandic news sites where one would expect to find such news if it were true.

 

[John F Kennedy III]

Iceland Forgives Mortgage Debt for the Population

Iceland Forgives Mortgage Debt for the Population

Sherrie Questioning All
April 13, 2012

This is awesome. It shows when the people DO STAND UP they have more power and win against the corrupt bankers and politicians of a country. Iceland is forgiving and erasing the mortgage debt of the population. They are putting the bankers and politicians on the “Bench of the Accused.” Which means I assume they are putting them on trial for corruption.

Now the rest of people of the world need to start doing the same thing. We all need to stand up and against all the corruption and fraud of the banks and politicians that are puppets of the banks and corporations.




rest of article here:
http://sherriequestioningall.blogspot.com/2012/04/iceland-forgives-mortgage-debt-for.html

 

[BlackTerrel]

Iceland Forgives Mortgage Debt for the Population

Sherrie Questioning All
April 13, 2012

This is awesome. It shows when the people DO STAND UP they have more power and win against the corrupt bankers and politicians of a country. Iceland is forgiving and erasing the mortgage debt of the population. They are putting the bankers and politicians on the “Bench of the Accused.” Which means I assume they are putting them on trial for corruption.

Not really. It's just a tax on people who rent (like I do)

 

[John F Kennedy III]

Ron Paul: He irritates more idiots in fewer words than any American politician ever.

You must spread some Reputation around before giving it to WilliamC again.

 

[QE Is Theft]

This is something you will never hear about in the US mainstream media....

They want everyone to be petrified and think that it's mutally assured destruction if the banker's get what they deserve....

It isn't....and Iceland is proof of this.

 

[enoch150]

It's theft when bankers get bailouts at the expense of the people.

It's theft when the people get bailouts at the expense of the bankers.

 

[Travlyr]

It's theft when bankers get bailouts at the expense of the people.

It's theft when the people get bailouts at the expense of the bankers.

The people standing up for themselves against theft is not theft.

 

[csu1987]

Great news! Now we should do the same. Then follow what ND is doing and abolish property taxes.

 

[No Free Beer]

Everyone should watch what Iceland has done in the last year. They basically told England, IMF, EU, and all of the other globalists to FUCK OFF!

 

[Knighted]

I'm surprised and disturbed by the mindset being expressed in this thread. It's very un-libertarian. Two wrongs do not make a right. While the bank bailouts were wrong and never should have happened, a government mandate forcing debt forgiveness would be equally as wrong, because there is someone on the other end of that transaction being given the shaft. One of the most important characteristics of a free society is protection of private property. A government mandate which forces people (lenders) to give away their money to borrowers who lent it to them in good faith that it would be returned with interest is the antithesis of a freedom. Mortgage debt is a voluntary agreement between two parties. No one was pointing a gun at the head of the borrowers saying "take our money or else."

And make no mistake, if this mandated debt forgiveness really happened (which I doubt), there will be severe unintended consequences. Who in their right mind would want to lend money to the people of Iceland knowing that the government can come in at any time and prevent them from ever getting it back again? The stifling of lending that would no doubt follow would have a devastating impact on the economy.

 

[WilliamC]

I'm surprised and disturbed by the mindset being expressed in this thread. It's very un-libertarian. Two wrongs do not make a right. While the bank bailouts were wrong and never should have happened, a government mandate forcing debt forgiveness would be equally as wrong, because there is someone on the other end of that transaction being given the shaft. One of the most important characteristics of a free society is protection of private property. A government mandate which forces people (lenders) to give away their money to borrowers who lent it to them in good faith that it would be returned with interest is the antithesis of a freedom. Mortgage debt is a voluntary agreement between two parties. No one was pointing a gun at the head of the borrowers saying "take our money or else."

And make no mistake, if this mandated debt forgiveness really happened (which I doubt), there will be severe unintended consequences. Who in their right mind would want to lend money to the people of Iceland knowing that the government can come in at any time and prevent them from ever getting it back again? The stifling of lending that would no doubt follow would have a devastating impact on the economy.

You are assuming that the system in place is in any ways fair or representative of a free-market.

It isn't, and hasn't been in decades.

Many many individuals who are currently holding various types of debt deserve to be paid nothing for their paper, absolutely nothing.

When the global financial system is reset to more of a transparent, free-market system that isn't rigged at it's core to support a tiny minority of bankers then money lending will be placed on a more just foundation.

Now I'm not saying that everyone who goes out and willfully runs up consumer debt should be forgiven, don't think this, but when the very foundation of the monetary supply, the dollar, isn't even defined as anything other than some vague unit of accounting then it is hard to know who is taking advantage of whom.

Default would result in short term consequences to be sure, but so long as the same people running the show aren't put back in charge and the transparency of the system greatly increases (sound money is restored) then right-thinking and fair minded folks will rapidly put things to rights.

What is so difficult for many to imagine is just how much better things could be if it weren't for a very small number of powerful psychopathic parasites who honestly think they deserve to rule the world and work very hard to accomplish this. Remove them and the future can get better real fast.

 

[enoch150]

Many many individuals who are currently holding various types of debt deserve to be paid nothing for their paper, absolutely nothing.

I agree with you here. But the default should be to those holding government debt, because that is an involuntary contract. The government promises lenders money at the expense of future taxpayers, who do not explicitly consent to the arrangement. People who hold government debt know this and are acting immorally. They deserve to get stiffed.

Mortgages, on the other hand, are voluntary. And defaulting on them is theft.

 

[specsaregood]

//

 

[PaulStandsTall]

Any other sources on this besides a video in Spanish and some ladies blog?

 

[GeorgiaAvenger]

Confirmation it is a socialist country

 

[chudrockz]

Everyone should watch what Iceland has done in the last year. They basically told England, IMF, EU, and all of the other globalists to FUCK OFF!

So we'll be at war with Iceland then in the near future? I hear it's a hotbed of terrorists these days!