Iceland: A Cautionary Tale


A Cautionary Tale

Posted by Karl Denninger

When in the course of human events……

So began a document written over 200 years ago.

But for a very long time, before there were firearms in the hands of the people, there were pitchforks and…..

Yes, that would be torches.

But that is not 200 years ago, or 400, or 1,000.

It is today.

In Iceland.

A land where a handful of banksters robbed the nation and looted its Treasury, then demanded that the public accept paying for the consequences.

The people have risen and declared that these are the acts of a criminal gang.  That the actions that led to this distress were not mistakes, they were instead unindicted and unpunished felonies.  That the people were unwilling and unknowing dupes, not willing participants with equal culpability.

And finally, that they will not pay so the criminal cabal – the international bankster fraternity – will be protected and made whole.

Iceland’s President has said “no”:

“The cornerstone of Iceland’s constitution is that the nation is the highest judge for the validity of law,” Grimsson told reporters at his residence outside the capital Reykjavik today.

Grimsson vetoed the so-called Icesave accord after more than 60,000 of Iceland’s 320,000 inhabitants signed a petition urging him to reject the legislation. His decision means lawmakers must either drop the bill or put the matter to a referendum.

Does anyone know what the laws are governing immigration – to Iceland?

I’m only half-joking.

This is the first President who has acted as a President.  Who has recognized, understood and acted in accordance with the will of the people.

70% of the population appear to oppose bailing out the criminal cabal.

Contrast this with the EESA/TARP legislation. 

By a margin of more than 100:1 and in some districts a margin reported as high as 300:1 The American People called, faxed and emailed their Representatives and Senators, along with the White House, to tell them NOT TO BAIL OUT THE CRIMINAL BANKING CABAL.

Our Congress and President did so anyway.

In Iceland we have seen proof that a strong display of the good old-fashioned torch – with the implied threat of the pitchfork being next – was sufficient for the government to recognize that:

That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness.

Prudence, indeed, will dictate that Governments long established should not be changed for light and transient causes; and accordingly all experience hath shewn that mankind are more disposed to suffer, while evils are sufferable than to right themselves by abolishing the forms to which they are accustomed. But when a long train of abuses and usurpations, pursuing invariably the same Object evinces a design to reduce them under absolute Despotism, it is their right, it is their duty, to throw off such Government, and to provide new Guards for their future security.

I am convinced that our nation will not stop being looted by this very same criminal cabal until The People display the torch and reiterate the foundational principal of this Republic – that we, the people, are stating our intention of revoking The Government’s right to exist should it continue to act at the behest of a criminal cabal hellbent and determined on looting every member of society along with the public Treasury.

The choice is yours America. 

You have seen today that forceful yet peaceful demonstration – a clear and unmistakable statement that the principles that underlay The Declaration of Independence remain in full force and effect, and that we, the people are both willing and prepared to enforce them if it becomes necessary – still works.

That you, not the den of vipers, control the ultimate path of legislation in all civilized nations.

When will you, America, be willing to display your torch?