Defaulting banks - where will it stop?

[Peter Presland]

Peter - fascinating post.

So, the Icelandic government is saying NO to shock therapy, and asking for "reasonable" terms for debt repayment.

The financial elites are furious and are poised with their electrodes, desperate to see ordinary Icelanders convulse as the juice shocks their bodies.

And then there's the wildcard: a flood of agression-inducing drugs are suddenly flooding the black narcotics market in Iceland.

Hmmm - I would therefore anticipate an upgrade from cocaine and amphetamine to crack cocaine and meth-amphetamine.

I wonder if the Joker from Hell will show up.

Yup - chems to induce violent psychosis rather than peace and love.

Jan That's pretty much it in a nutshell.

In my judgement, what they are trying on is totally and absolutely unacceptable to those at the pinnacle of the present Western dominated globalised power system. It is the thin end of a potentially massive wedge that cannot be allowed to succeed.

It therefore seems to me that every stratagem possible will be used against it being seen to succeed.

I hope the Icelanders realise just what they are up against here because it will be no use playing Mr nice guy and appealing for fair play to the EU or anything like that. They'll need to take great care over who they decide to ally with or allow to get close to them too. They're going to need friends but they need to be ultra-cautious about anyone bearing gifts.

Since the Arctic is shaping into a major NATO -v- Russia confrontation, they could probably do worse than make some serious soundings in that direction - IOW get on the front foot and maybe put a cat among the pigeons as soon as they get concrete indications of dirty tricks. As I recall the Russian did actually offer some help early on.