Other than that...... I like what they have done with their banksters - they threw them all in prison after the 2008 mess and threw away the key. That is some action, I can endorse. I have no patience for the bankster/sheister community. Maybe the local banks - but not the national and international banksters.
Here is the article:
http://www.disclose.tv/news/iceland_forgives_entire_population_its_debt_total_us_media_blackout/127307
Iceland
forgives entire population its debt. Total US media blackout.
Debt Media Iceland Population
Please scroll down for video
123K
Finally serious economists are considering a position I have been
maintaining and writing about since the 2008 financial meltdown.
Whatever its name— erasure, repudiation, abolishment, cancellation,
jubilee—debt forgiveness, will have to eventually emerge forefront in
global efforts to solve an ongoing systemic financial crisis.
The US Rothschild Controlled Media (RCM) has completely BLACKED
OUT/CENSORED any news about Iceland’s DEBT FORGIVENESS.
If you Google “ICELAND FORGIVES ENTIRE POPULATION OF MORTGAGE DEBT” you
will get ‘About 359,000 Results’. Not one of them is a Media Outlet in
the US. Not one single Major or Minor news outlet in America has
mentioned a single word about this story.
This is TOTAL MEDIA CENSORSHIP and a TOTAL MEDIA BLACKOUT, and it should
tell you who owns and runs the Media in America.
We are allowed to see a tortured, bleeding, dying Gaddafi anywhere, but
we are not allowed to know about Debt Forgiveness.
Related Articles
It was in April when we got a stark reminder of a post we first penned
in April of 2011, describing Odious Debt, and why we thought sooner or
later this legal term would become applicable for Greece, because two
months ago Greek Zoi Konstantopoulou,Greek Debt Committee Just Declared
All Debt To The Troika 'Illegal, Illegitimate, And Odious'
Seriously, the most advanced place on Earth. Bloomberg writes:Icelanders
who pelted parliament with rocks in 2009 demanding their leaders and
bankers answer for the country’s economic and financial collapse are
reaping the benefits of their anger.Iceland Jails Bankers, Erases
Citizens’ Debt, Recovers Strongly
If you Google “DEBT FORGIVENESS” About 1 million 850 results. Not one of
them talks about forgiving debt. Okay, 1 does.
But still, out of over a million and a half results.
The MAINSTREAM MEDIA totally censors anything to do with Debt
Forgiveness.
The government of Iceland has forgiven the mortgage debt for much of its
population. This nation chose a very different way of stopping the
crisis from the rest of European countries. It decided to hear the
requests of the population and to put politicians and bankers on the
bench of the accused three years after their financial excesses would
sank one of the most prosperous economies in 2008.
Iceland Forgives Mortgage Debt for the Population. Putting Bankers and
Politicians on “Bench of Accused”
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.
The beauty of it is that they will have a load of cash to circulate into
the economy and into service industries etc…instead of feeding it to
the parasite bankers and out of the economy, great idea. If it was
warmer I’d move to Iceland.
This could very well be the first chime of many to signal the Death of
the World Banking System headed by our ‘good’ friends the Rothschild’s.
Iceland Strikes the First Major Blow Against the World Banking (Fraud)
Cartel. This is what can immediately put money into the hands of many
American’s.
The Us Government through Fannie Mae, Freddie Mac and FHA own 96% of all
bad housing loans. Many have stated, that in effect,
“The US Government is Foreclosing on itself.” This is the very
definition of Insanity. It is a form of Suicide.
Major Banks only hold 3% of bad housing loans, 3%!
This is not a banking problem, it is a Government problem, they hold the
loans!
We were just about to do a story on America Foreclosing on itself when
this article came across our computer.
Times have just gotten brighter ( via truedemocracyparty.net ). READ
MORE:
http://www.disclose.tv/news/iceland_forgives_entire_population_its_debt_total_us_media_blackout/127307
Iceland
forgives entire population its debt. Total US media blackout.
Debt Media Iceland Population
Please scroll down for video
123K
Finally serious economists are considering a position I have been
maintaining and writing about since the 2008 financial meltdown.
Whatever its name— erasure, repudiation, abolishment, cancellation,
jubilee—debt forgiveness, will have to eventually emerge forefront in
global efforts to solve an ongoing systemic financial crisis.
The US Rothschild Controlled Media (RCM) has completely BLACKED
OUT/CENSORED any news about Iceland’s DEBT FORGIVENESS.
If you Google “ICELAND FORGIVES ENTIRE POPULATION OF MORTGAGE DEBT” you
will get ‘About 359,000 Results’. Not one of them is a Media Outlet in
the US. Not one single Major or Minor news outlet in America has
mentioned a single word about this story.
This is TOTAL MEDIA CENSORSHIP and a TOTAL MEDIA BLACKOUT, and it should
tell you who owns and runs the Media in America.
We are allowed to see a tortured, bleeding, dying Gaddafi anywhere, but
we are not allowed to know about Debt Forgiveness.
Related Articles
It was in April when we got a stark reminder of a post we first penned
in April of 2011, describing Odious Debt, and why we thought sooner or
later this legal term would become applicable for Greece, because two
months ago Greek Zoi Konstantopoulou,Greek Debt Committee Just Declared
All Debt To The Troika 'Illegal, Illegitimate, And Odious'
Seriously, the most advanced place on Earth. Bloomberg writes:Icelanders
who pelted parliament with rocks in 2009 demanding their leaders and
bankers answer for the country’s economic and financial collapse are
reaping the benefits of their anger.Iceland Jails Bankers, Erases
Citizens’ Debt, Recovers Strongly
If you Google “DEBT FORGIVENESS” About 1 million 850 results. Not one of
them talks about forgiving debt. Okay, 1 does.
But still, out of over a million and a half results.
The MAINSTREAM MEDIA totally censors anything to do with Debt
Forgiveness.
The government of Iceland has forgiven the mortgage debt for much of its
population. This nation chose a very different way of stopping the
crisis from the rest of European countries. It decided to hear the
requests of the population and to put politicians and bankers on the
bench of the accused three years after their financial excesses would
sank one of the most prosperous economies in 2008.
Iceland Forgives Mortgage Debt for the Population. Putting Bankers and
Politicians on “Bench of Accused”
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.
The beauty of it is that they will have a load of cash to circulate into
the economy and into service industries etc…instead of feeding it to
the parasite bankers and out of the economy, great idea. If it was
warmer I’d move to Iceland.
This could very well be the first chime of many to signal the Death of
the World Banking System headed by our ‘good’ friends the Rothschild’s.
Iceland Strikes the First Major Blow Against the World Banking (Fraud)
Cartel. This is what can immediately put money into the hands of many
American’s.
The Us Government through Fannie Mae, Freddie Mac and FHA own 96% of all
bad housing loans. Many have stated, that in effect,
“The US Government is Foreclosing on itself.” This is the very
definition of Insanity. It is a form of Suicide.
Major Banks only hold 3% of bad housing loans, 3%!
This is not a banking problem, it is a Government problem, they hold the
loans!
We were just about to do a story on America Foreclosing on itself when
this article came across our computer.
Times have just gotten brighter ( via truedemocracyparty.net ). READ
MORE:
http://www.disclose.tv/news/iceland_forgives_entire_population_its_debt_total_us_media_blackout/127307
So, I read the article and actually copied and pasted "ICELAND FORGIVES ENTIRE POPULATION OF MORTGAGE DEBT" (without the quotes) into a Google search and received only 21,900 results. Much less than the "359,000" mentioned in the article. What is interesting is how the same article seems to be on many of those sites, or at least the same quoted summary line is shown on many of the search results.
ReplyDeleteSomething to note is there are a number of 2012 and 2013 articles, with several from Bloomberg and Forbes (and probably others, I just didn't go through very many pages). Some of these older articles indicate only part of Iceland's population received some debt forgiveness, and other articles stated only debt exceeding 110 percent of home values was forgiven.
It seems the main story occurred a few years ago, and it's resurfacing on the web.
In any case, it's still a great victory and no doubt helped the country's citizens who may have benefited.
I would love to get some debt forgiveness in America, however I am wary of it. I was actually thinking along these lines last August. I can see our corrupt politicians actually using it to their advantage to score political points, while also wringing more money from those who might otherwise benefit from it.
How?
The public will think the politicians are understanding and caring about regular people and their economic troubles. Imagine the political points that will be scored by all involved who support massive debt forgiveness. Pointing fingers at corrupt bankers and Wall Street as the cause of problems scores more points. Many will see it as a move towards wealth redistribution.
However, most people do not realize debt forgiveness is reported to the IRS. The amount of debt that is forgiven is considered "income," which means you can be taxed on it.
Imagine you receive forgiveness of $50,000 or $100,000 or more. Suddenly your reported "income" is that much higher for that year as you will likely jump into higher tax brackets. Can you afford the very likely tax increase that the IRS will demand you pay?
I am not a finance nor a tax professional, but from my limited perspective the only groups I see as possibly hurting from such a move might be various government institutions that own mortgages (but I doubt they will hurt much, and it might be a good way to "clean house"), and those banking institutions which receive fees for servicing mortgages. But, I doubt the financial institutions will hurt much as they will likely be able to use it for some form of corporate tax credit.
The government will definitely benefit as money will be coming more directly to them through the IRS.
It is my understanding that organizations who forgive debt can write it off (or at least a portion of it off) as a business loss, which results in reducing taxes for the organization, and that increases their bottom line. It doesn't increase their operating income, which is what would be needed to meet their own debt and expense obligations. But many investors are only interested in the bottom line. .
If such a tactic happens, and you receive debt forgiveness, consult your tax professional ASAP. Most likely you will need to document all the outstanding debt you still have at the time of the debt forgiveness, which may help offset the tax owed on the debt being forgiven.
[to be continued]
[continued]
ReplyDeleteHere is a very general example. If only 50 million people (less than 16% of the population) were forgiven $50,000 each in debt, that is a collective "income" increase of $2.5 trillion. An average tax rate of 10% would result in $250 billion in taxes ($5000 per person). A 25% tax rate bumps it to $625 billion ($12,500 per person). A 30% rate increases it to $750 billion ($15,000 per person).
If a third of Americans receive $50,000 in debt forgiveness, the collective income increases to nearly $4.8 trillion. The 10% tax rate would bring in over $478 billion. A 30% tax rate results in over $1.4 trillion. The per person tax owed would be the same. How many Americans would be able to pay an additional $5,000 (or more) in taxes? If they had any savings, the taxes would likely wipe them away.
Another consideration is this "income" increase may also bump many into a tax bracket where they simply will not receive any tax return, and will likely owe at least a little more in taxes.
And, depending on the debt being forgiven, the mortgage interest deduction that many take may no longer apply, or be significantly reduced, on future taxes, which means future taxable income may be higher as the income will not be reduced as much by interest.
The more debt that is forgiven, the more taxes that will come in. Most people will either not realize the tax implications of debt forgiveness or not know how to protect themselves from suddenly being in a higher tax bracket (especially if the debt forgiveness happens at the end of year, before most people think about doing anything to offset the instant change). Many will find themselves free from some debt, and then suddenly owing the government when income taxes are filed. But this massive debt forgiveness could only really work one time to significantly increase tax revenues.
Personally, I'm not fully convinced massive debt forgiveness would happen. But, if it does, I think it could be an indication of worse things coming (a move to a cashless economy and/or financial collapse), as this tactic seems to me to be a last ditch effort (depending on the size of debt forgiveness) to "legally" wring every last bit of money from the people as quickly as possible. I'm not sure if the economy could last more than two years after a massive debt forgiveness. Of course, I'm not sure our present economy can last much more than 8 years before it collapses under the debt our politicians have created and continually add to.