Author Topic: Iceland going bust? (Angus?)  (Read 4134 times)

Offline Die Hard

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Iceland going bust? (Angus?)
« on: October 07, 2008, 09:26:20 AM »
Angus, you're Icelandic right?

I heard on the radio that your entire country is in on the verge of bankruptcy and that the Russians have offered "emergency loans". Are you ok? What's the story over there?
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Offline Baitman

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Re: Iceland going bust? (Angus?)
« Reply #1 on: October 07, 2008, 09:33:21 AM »
I heard that because of a couple of Wall street friends they now have run away inflation.  :O
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Offline Reschke

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Re: Iceland going bust? (Angus?)
« Reply #2 on: October 07, 2008, 10:24:43 AM »
The Russian emergency loans also have fine print indicating a takeover ala "Red Storm Rising".

"It's the end of the world as we know it" - R.E.M. seems like a fitting song for the times we live in.
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Offline JAGED

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Re: Iceland going bust? (Angus?)
« Reply #3 on: October 07, 2008, 01:03:56 PM »
The Russian emergency loans also have fine print indicating a takeover ala "Red Storm Rising".

"It's the end of the world as we know it" - R.E.M. seems like a fitting song for the times we live in.

Are they handing out passports too?  :D
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Offline Dos Equis

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Re: Iceland going bust? (Angus?)
« Reply #4 on: October 07, 2008, 02:22:00 PM »
Angus, you're Icelandic right?

I heard on the radio that your entire country is in on the verge of bankruptcy and that the Russians have offered "emergency loans". Are you ok? What's the story over there?

The loans have a few stipulations. Putin gets a nice house in Reykjavik, and a submarine base goes in the harbor.

Offline Angus

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Re: Iceland going bust? (Angus?)
« Reply #5 on: October 07, 2008, 03:35:06 PM »
The news are coming to the surface, but what I can give you in short is that the banks went wild and gambling, made insane profit (the banks roll-over is many times more than the national production) and then got their nose in the pudding. They screamed for the government to help, and the government has now (finally, - slow bastards) made emergency law which basically put the naughty bankers under gov's control.
(it is a right wing gov BTW)
So, the gov. has been looking for loan money (in order to pull the system back into order) and the USA, EU and Scandinavia went deaf, but the Russkies (I thought they had enough trouble) are game.
This is like the USA in 1929, people have got a "no" for money withdrawal from their bank.
This is all unfolding, but looks as if we are not the only ones. The ecosystem and currency is small, so bear in mind that swings are fast, - think of it as agile, and that may also be a benefit. The Eu and USA are not so stable right now.
The missus (She's a German!) has to do a radio interview early in the morning (German channel) and meanwhile I am babysitting and looking at stuff....like this.
There are too many "wise" bankers here that I would like to put on the BBQ by the way, for I (and the other farmers) saw this one coming.
I'll keep you updated.
It was very interesting to carry out the flight trials at Rechlin with the Spitfire and the Hurricane. Both types are very simple to fly compared to our aircraft, and childishly easy to take-off and land. (Werner Mölders)

Offline Die Hard

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Re: Iceland going bust? (Angus?)
« Reply #6 on: October 08, 2008, 05:52:53 AM »
I heard today that the British are PO'ed at you now. Gordon Brown himself made public threats about "sanctions" against Iceland. What's going on?
It is better to be violent, if there is violence in our hearts, than to put on the cloak of nonviolence to cover impotence.

-Gandhi

Offline Wobbly

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Re: Iceland going bust? (Angus?)
« Reply #7 on: October 08, 2008, 06:11:25 AM »
Could be to do with "Icesave" an Icelandic savings bank which has 300,000 UK depositors. This has been closed and the UK depositors have been told by the Iceland government that they have lost the lot, they wont honour deposits (this after they stopped all withdrawals). The Icelandic compensation scheme appears bankrupt as well.

Anyway, the UK Government has said it will honour the deposits for UK people
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Offline LePaul

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Re: Iceland going bust? (Angus?)
« Reply #8 on: October 08, 2008, 06:25:52 AM »
USA went deaf?  How's this our fault?  If you've missed the headlines, we're a bit busy putting our house back in order

Offline Eagler

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Re: Iceland going bust? (Angus?)
« Reply #9 on: October 08, 2008, 06:55:40 AM »
I think the US is in the tank but the rest of the world has fallen out or getting ready to fall of the bottom of that tank

wait til your buds in russia start something somewhere to drive oil back up in an attempt to save their own skins - then it gets REAL interesting REAL quick
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Offline DREDIOCK

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Re: Iceland going bust? (Angus?)
« Reply #10 on: October 08, 2008, 07:19:06 AM »
Death is no easy answer
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What fate the future holds
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Offline Nilsen

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Re: Iceland going bust? (Angus?)
« Reply #11 on: October 08, 2008, 07:24:31 AM »
So, the gov. has been looking for loan money (in order to pull the system back into order) and the USA, EU and Scandinavia went deaf, but the Russkies (I thought they had enough trouble) are game.

Not correct. We and i think some of the other scandinavian countries have offered help too.

The norwegian central bank offered a loan of 500 million euros back in may and the offer still stands. Its your government that has not wanted to take advantage of that yet. On tuesday Our PM spoke with yours but he again did not want to take that option yet. Your pm also said that he was not happy with the international community but that did not include scandinavia and russia.
« Last Edit: October 08, 2008, 07:33:09 AM by Nilsen »

Offline Angus

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Re: Iceland going bust? (Angus?)
« Reply #12 on: October 08, 2008, 07:45:12 AM »
News update.
The scandinavians lent a hand, and the USSR.
This Icesave deal comes on the news now, there will be an update at 16:00 about it.
Basically the question is whether the government is the bank's guarantor or not, but the numbers are humongous, and if the govt needs to cash out the bank, the country will go bankrupt.
On the odd side, this particular bank basically squashed my business and has the farm on auction in december...maybe. I completely lost opinion of those guys in 2006, well all of them  :furious
BTW, the Russkies are lending 4 BILLION euros. Maybe they take over the airbase  :devil
It was very interesting to carry out the flight trials at Rechlin with the Spitfire and the Hurricane. Both types are very simple to fly compared to our aircraft, and childishly easy to take-off and land. (Werner Mölders)

Offline RATTFINK

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Re: Iceland going bust? (Angus?)
« Reply #13 on: October 08, 2008, 07:51:43 AM »
Maybe the Russkies will take over.   :noid :O

Angus, That sux.

I love Iceland, but I cannot stand Björk.
« Last Edit: October 08, 2008, 07:54:15 AM by RATTFINK »
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Offline Die Hard

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Re: Iceland going bust? (Angus?)
« Reply #14 on: October 08, 2008, 07:52:02 AM »
You're losing your farm? :(
It is better to be violent, if there is violence in our hearts, than to put on the cloak of nonviolence to cover impotence.

-Gandhi