Archive for March, 2013

The following report can be read here: http://wakeup-world.com/2012/05/25/the-silent-revolution-icelandic-anger-debt-forgiveness-and-activist-triumph/

25th May 2012

By Madison Ruppert

Contributing Writer for Wake Up World

The situation in Iceland is something those of us outside of the volcanic island nation hear about far too little, and when one examines the story of how Iceland triumphed over massive debts, it makes a lot of sense why this is the case.

Earlier this year, the Icelandic Financial Services Association published a report showing that since the end of 2008, Icelandic banks have forgiven the equivalent of 13 percent of the nation’s gross domestic product in loans.

This has directly lifted the crushing burden of debt form the shoulders of over one quarter of the Icelandic population, something which many people around the world – but especially in the United States, Greece, Spain, Italy and other nations struggling with massive debts – would likely appreciate greatly.

In 2008, Icelandic banks defaulted on a whopping $85 billion in loans, yet the nation has taken steps to recover and they are already proving to be effective.

“You could safely say that Iceland holds the world record in household debt relief,” Lars Christensen, the chief emerging markets economist at Danske Bank A/S in Copenhagen, explained.

“Iceland followed the textbook example of what is required in a crisis. Any economist would agree with that,” he added.

Then why wouldn’t other nations follow a similar model instead of pouring even more money into the black hole of debt, hoping that it will somehow fix itself?

That is a question which cannot be answered with any degree of certainty, but Iceland has proven that endless bailouts are not the only way we can turn countries around from the brink of collapse.

The Icelandic economy will outgrow the eurozone in 2012 and is set to outgrow the entire developed world on average, according to estimates from the Organization for Economic Cooperation and Development.

This growth is reflected in the fact that many polls are showing that the people of Iceland have no interest in joining the European Union, which continues to be wracked by a debt crisis the likes of which have never been seen.

The solution Iceland implemented involved an agreement between the banks and the government, which entailed forgiving debt exceeding 110 percent of home values.

This is commonly known as “under water” mortgages (or more technically “negative equity”), which have become far too common place, especially in the United States.

Indeed, a CNBC article from November of last year stated that one out of two U.S. mortgages is effectively underwater.

In addition to the debt forgiveness, the Icelandic Supreme Court ruled in June 2010 that loans indexed to foreign currencies were legal, which means that Icelandic households were no longer expected to cover krona (the Swedish currency) losses.

The most important factor of their approach, however, is that every step of the way they have put their own people before the markets. This is essentially the polar opposite of what we have seen so many other nations do in response to debt crises.

The Icelandic government basically left international creditors to deal with their failed loans on their own, removing all responsibility from their own people.

Now Iceland is proceeding to actually prosecute some of their formerly most powerful bankers and the Icelandic special prosecutor has stated that it very well may indict some 90 people.

Meanwhile, over 200 people, including the former chief executives of Iceland’s three biggest banks, face criminal charges for their activities.

Maybe some other nations should take a page out of Iceland’s book and think about their people before the banks that caused the crisis in the first place.

About the Author

Madison Ruppert is the Editor and Owner-Operator of the alternative news and analysis database End The Lie and has no affiliation with any NGO, political party, economic school, or other organization/cause. He is available for podcast and radio interviews. If you have questions, comments, or corrections feel free to contact him at admin@EndtheLie.com

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Our government over the last two weeks have been handed the Truth And Lies Report, signed by some 43 Bishops, the  House Of Lords have asked parliament to look again at their proposals regarding the nations budget and even financial experts have told George Osborne that his budget proposals are unworkable…….

And still parliament are not listening to the church, the Lords or financial experts…..don’t you think that it is time for a vote of no-confidence in our current government????

The 9th March Summit.

Stop the Benefit Cuts

Saturday 9th March – 11am at the University of London Union (ULU)

Malet St, London WC1E 7HY

The Campaign for Benefit Justice is uniting all those opposed to devastating benefit cuts. By linking up we can challenge the Government’s divide and rule tactics and unite the 99% of people hit by these cuts. This summit will bring together disabled people, tenants, unemployed , trade unions, students, pensioners, single parents, and others to oppose benefit cuts.

The venue is fully-accessible for wheelchair users – for other access needs, please contact benefitjustice@gmail.com.

Cut rents, not benefits

Can’t pay, won’t pay

Can’t move, won’t move

If you plan to attend, please register at http://benefitjustice.wordpress.com/

Posted: 05/03/2013 in Uncategorized

the void

workfare-protestBREAKING NEWS: Sue Ryder have said they will begin a ‘phased withdrawal’ from the Government’s mandatory workfare schemes.

via Boycott Workfare

Join an online, rolling picket of workfare exploiters Sue Ryder.

Starts: Now
Ends: When Sue Ryder pull out of all forms of workfare.

Since Sue Ryder became the first and only UK charity to admit they will use claimants on sickness and disability benefits as forced unpaid workers hundreds of people have contacted them to express disgust at their activities.

This followed the revelation that Sue Ryder are part of the Mandatory Work Activity scheme and also accepted free workers on the Community Action Programme. This is one of the nastiest workfare schemes which involves 720 hours forced unpaid work simply for being unemployed. This is over twice the maximum Community Service punishment which can be handed out by the Courts.

Sue Ryder are unrepentant about their use of…

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From the BBC:

http://www.bbc.co.uk/news/uk-21625446

A Pdf document of the report itself is available here Truth-And-Lies-Report……

Although the focus is on poverty and welfare in general, disability features prominently. All credit to the churches involved:

Thought provoking, well worth the read!!!

If after reading this you wish to help by signing the following petition  http://epetitions.direct.gov.uk/petitions/41070 then please do so, as it only takes a few seconds.

Many Thanks

FM

If your small bedroom is 70 sq m or less it is classed as a BOXROOM.

Therefore it cannot be charged bedroom tax, this is listed under The Housing Act 1985, section 326. Please use this, do not take any excuses from the council as The Housing Act 1985 cannot be changed by law.

Hopefully this will help some people, but it could work the other way, ie, with a landlord claiming its a 2 bed flat and the Housing Benefit not paying the total amount of rent because the 2nd bedroom is not big enough to class it as a bedroom.

The act also says; The Secretary of State may by regulations prescribe the manner in which the floor area of a room is to be ascertained. Also regulations say for housing benefit the rental agreement counts so if you have been renting a 3 bed house for 6 years its 3 beds house regardless of size.

However, general consenseus is; the Metre-age  thing is only applicable to issues of overcrowding, not housing benefit payments . As I mentioned above, it’s the housing association which determines if a property is 1 , 2, or 3 bedroomed. Seemingly one council redetermined the amount of rooms in some properties to help some tenants, but it was their choice to do so. And can’t remember which one it was.

The government are always saying that “Lessons have been learnt!” However, never for the benefit of the people (us), I’d bet that by the time our 12 yr old son grows up and moves out, that loophole will be firmly closed!!!! (His bedroom is a boxroom!)…..They’ll twist the law to suit them, coz they are the law, and they have almost complete impunity to their misdeeds……Our war disabled veterans that have served in the middle east can’t even get benefits;as shown on Dispatches last week, he should never have had to appeal to be awarded his benefit. I thought IDS was ex-army, yet he shows no compassion towards his comrades, who have fought or are still fighting, for our country…Okay……ranting done!!!

Please see this link for more info: http://thelincolnite.co.uk/2013/03/bedroom-tax-but-what-is-a-bedroom/


F.M.