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Iceland Gets "ENRONed," Then Goes For "1776"

"Watching the crowds in Iceland banging pots and pans until their government fell reminded me of a chant popular in anti-capitalist circles back in 2002: `You are Enron. We are Argentina.'" (All of Them Must Go by Naomi Klein, 5 Feb 2009). Many commentators believe this may have marked a decisive populist turning point against parasitic global banking establishments and New World Order hegemony around the world. (Photos by Hlynur, on Flickr, 20 Jan 2009 Icelandic Revolution)


Introduction and Overview

by William B. Fox

First edition published 30 May 2010
Last updated 8 Jan 2011.

"I spoke to a man at the International Monetary Fund [IMF] who had been flown in to Reykjavík ... Iceland was entirely new to his experience ... historically rational human beings who had organized themselves to commit one of the single greatest acts of madness in financial history. `You have to understand,” he told me, “Iceland is no longer a country. It is a hedge fund.'” Wall Street on the Tundra, by Michael Lewis, Vanity Fair, April 2009

"...Many people felt that we were like the regular staff of Enron...And when everything collapsed in August 2008, most people in Iceland had no idea what was going on. So it came as a complete shock to the nation." Birgitta Jonsdottir, Member of Parliament, 9 March 2010 interview with Alex Jones



Iceland's speculative binge and bust should be seen from a long term cultural and ideological perspective as well as from a global financial viewpoint. The Protestant Reformation flourished in countries with majority Nordic demographics, and gave rise to the Protestant work ethic. The Iceland financial fiasco symbolizes complete alienation from core values that once emphasized thrift, savings, and individual initiative. These values also entailed personal responsibility, political decentralization, and the creation of things of real value through mutually beneficial, honest hard work. They played a key role in making both America and the UK the leading industrial powers in the 19th century back when both countries were majority White Anglo-Saxon Protestant countries run by WASPs, with hard money systems. These values also provided a shield against both external predators and high level internal criminals.

From "Iceland: The country that became a hedge fund," by Peter Gumbel, Fortune Magazine, last updated: December 4, 2008, subtitle "Okay, not really. But its main banks and business tycoons took huge risks and its citizens borrowed to the hilt. Now this island nation is paying the price."

Iceland has also been the target of outside predators before. We learn from "Slavery?—White, Black, Muslim, Christian" that "In 1627 pirates from the Barbary Coast of North Africa raided distant Iceland and enslaved nearly four hundred astonished residents." More recently, Iceland has been infiltrated and corrupted by outsiders willing to render its inhabitants permanent debt slaves and an eventual servant minority within the home of their ancestors.
I have lived in all regions of the United States. I have had enough direct contact with individuals on all levels of society to not only verify facts and interpretations contained in this work, but also feel see disturbing analogies between Iceland and America --suppressed by controlled mainstream media.
A huge problem for people who live outside America to understand this country is that this highly fractured and dysfunctional society has become heavily steeped in denial and fantasy --to include interpretations of its own history. This is a major reason why alternative media and a free Internet are its last best hope for any kind of sane resolution of its extremely serious social and economic problems.
The United States became alienated from its founding values as it underwent major immigration, demographic, and leadership changes beginning in the 1840's. It increasingly converted over towards a multi-ethnic, multi-cultural global-imperial social model reminiscent of ancient Babylon, imperial Rome, and the Zionist New World Order. Zionists values, which stress financial intrigue, organized crime, and Mossad-CIA manipulation rather than manufacturing productivity, took over at the top in New York, Los Angeles, Washington, D.C., Chicago, and other urban power centers beginning in the early 20th century. Please see Appendix IV of Part 6 for more detailed coverage of this history.
There is another interesting social irony at play here. An Icelander once referred to his own people as "an egalitarian people with aristocratic tendencies." Iceland has historically been one of the most naturally libertarian societies in the West with a large middle class. It also has a relatively homogeneous Nordic or Nordic-Celtic population. Its treatment of women is so liberal that one journalist wrote an article titled "The World's Most Feminist Country."
During the extremist phase of the French Revolution, Jacobins created a bloody mess by trying to ruthlessly convert their multi-ethnic, multi-class, and mostly Catholic society into an egalitarian version of 18th century WASP-run America and Nordic-Lutheran Iceland. Now certain unwise Icelandic political and business leaders have created their own horrible mess by trying to turn Iceland into a "global-financial" version of 20th century Zionist-run America and "New World Order-New Babylon" Israel.

The logo of Yale's Skull and Bones fraternity, which has produced a disproportionate number of leaders of the CIA and major American corporations. It's founders got their start peddling opium to China in the early 1800's. Today it serves as a poison label for a sick society.

America also has a very serious problem with business and political leaders who are cut off from any real sense of roots or social responsibility --in fact, even more so than Iceland. Many of them, like George W. Bush and his father --or for that matter most fellow members of Yales' Skull and Bones fraternity -- are a psychological mess. (Please see the first part of Chapter 5 of the Mission of Conscience series which describes how "W" gets "titilated by evil.")

America's problems go back to Puritans who first settled New England en masse in the mid 17th century. They followed a utopian and hardline interpretation of a religion originated by a very alien people called the Jews in the first, second and third centuries A.D. This Semitic religion was subsequently imported into England during the Dark Ages, where it sought to ruthlessly blot out the indigenous natural tribal religions of Nordic and Celtic peoples. (According to the documentary A Lamp in the Dark, Catholic Church inquisitions made the Dark Ages even darker). This intolerant, dogmatic, universalistic, and monopolistic Semitic religion was finally discredited by the Enlightenment in the mid-1700's. So much so, in fact, that Thomas Jefferson talked about "Nature's God" in the Declaration of Independence. Nevertheless, in the 1860's descendants of the Puritans would implement a secular leftist and "humanist" interpretation of the old ruthless Semitic religion to militarily crush States' Rights and turn the South on its head during the so-called "Reconstruction" era, to include turning "abolitionism" and the Federal government into a religion, and denying voting rights to Southern whites while turning their legislatures over to former Negro slaves and Jewish carpetbaggers. Glory, glory, Hallelujah! Three hundred years even later, in the 1960's, distant descendents of the Puritans would implement an even more confused leftist secular ideological offshoot of their 17th century religion -- aided and abetted by Zionist-controlled national media -- to promulgate a no-win war in Southeast Asia, psychedelic drug use, forced racial integration, sexual promiscuity, feminist social reengineering, blank check support for Israel, unlimited federal government, central bank interventionism, globalism, and the beginning of a long period of deindustrialization and global competitiveness decline.
Obviously there have been some major fault shifts and confusion between American generations about core values and moral and philosophical anchor points.
.Iceland is unique by possessing an indigenous culture and religion that go back to the pagan Viking era. The Icelandic language spoken today is very similar to Old Norse. In the early 1970's, an Icelander named Sveinbjorn Beinteinsson revitalized the open practice of Asatru, the indigenous Nordic religion, after a thousand year hiatus. Sveinbjorn also supported many nationalist policies. This author made a special effort to interview Sveinbjorn through a Norwegian-American journalist in 1993, appreciating the importance of his work from both an indigenous religion and nationalist perspective at the time. I also felt inspired to publish many articles to help introduce the general public to Asatru in the early 1990's. I have reproduced these articles both in my author archive web page and religious crisis web page, to include a lecture to the Leif Erikson Society of New York and two articles about why I believe a tribal religion like Asatru is more appropriate for Nordic peoples than Christianity.
Last but not least, I link to other significant Odinist or Asatru leaders who began their public mission in the 1970's, to include Steve McNallen of the Asatru Folk Assembly, and Else Christensen who published The Odinist newsletter from 1971-1992. I have archived many back issues of Else Christensen's publication, which explained how many "intangible" social elements ranging from folklore, customs, culture, and indigenous religion can provide greater self-sufficiency and strength in politics, economics, and other key areas of social functioning. .

This ain't "W." Left: Portrait of Sveinbjorn from a poetry recording made in 1953. Right, a later picture of Sveinbjorn in front of a Thor statue he created at his farm.

Sveinbjorn Beinteinsson passed away in late 1993, not very long after my interview. Paradoxically, at this very same time other leaders in Icelandic society started pushing Icelandic society hard in the exact opposite philosophical direction preached by Beinteinsson. That is, towards the globalist values of the New World Order. Their decoupling from anchor points advocated by people like Sveinbjorn Beinteinsson would ultimately cost Iceland dearly.
Quite often countries are much better off when their citizens have a clearer idea of what they are --and what they are not. Most white Americans raised in the "melting pot" have no concept of "indigenous values," the principles of nationalism, or how all these things work together to foster a successful society. Hopefully my discussion of Iceland as a case study, combined with my nationalist analysis section provided later in this work, will make all these things much more comprehensible to American readers.



One of the best introductions to the significance of the Iceland crisis comes from the Alex Jones interview on 9 March 2010 with Birgitta Jonsdottir, Member of Parliament, available both on YouTube and in transcript form. I also encourage the reader to also look at the transcript page I have prepared for Birgitta Jonsdottir's 12 March 2010 interview with Max Keiser.
First, let us start with the opening of the Alex Jones interview:

Alex Jones: The entire world is watching what has just happened in Iceland. Goldman Sachs and others went in, in the last five years, got the country deep in debt in derivatives, knowing that they were going to implode the derivatives. This is just the wealth they get with all this fiat, financial, Madoff, Ponzi scheme garbage. It is that once it implodes, the banks come in and loan more money to the government, literally indenturing the people as slaves. And the whole world is watching because Greece --the people are revolting, and ten years ago Goldman Sachs went in, set up a system, got them deep in debt. The banks got rich off of it. Now they are saying the roads, the infrastructure, the famous places, the islands must be given to the private bankers. Top Democratic and Republican lawmakers are saying the same thing is now going to happen here, where a year and a half into the banker takeover of October 2008, the financial terrorism --or they said, "Give us unlimited trillions or we will have a depression. We are going to use it to unfreeze the mortgage market." And then they clamp down on the mortgage market even more, hoarded the money, and they won't say where the money went. So here is the headline: "Iceland votes `No' to Debt Deal for Collapsed Bank." Now a year ago they declared anti-terror powers on Iceland, froze people's bank accounts, would not let them get their own money out, saying "Your money is ours," for the Dutch, British, and U.S. banks. And Birgitta Jonsdottir and others ran for office. She is the current chairman of the Civic Movement parliamentary group on the Icelandic Parliament, leading the charge against these people. They have got other initiatives to make themselves a free press zone against the shut-down of the Internet.... [Link here to more of this interview transcript].

In her 12 March 2010 interview with Max Keiser, Birgitta Jonsdottir explored the global implications of the crisis:

Max Keiser: Do you see any connection with what is going on in Greece right now?
Birgitta: Yes, and I certainly hope that this national referendum in Iceland will be an encouragement for the people of Greece and for the people of Ireland and the people in the U.S. to demand, to have national referendums on such issues as bailout and moving private debt on to taxpayers.
Keiser: So perhaps part of the motivation for the UK government to keep applying pressure to Iceland is a way to show some strength against their own population, demanding some kind of referendum, and for there to be some kind of return of the money that was stolen from them from their own banking terrorists. [Link here for more of this interview transcript].

From "The Isle That Rattled the World," Wall Street Journal, 27 Dec 2008.

Wikipedia article "2008-2010 Icelandic Financial Crisis" caption: "The value of the OMX Iceland 15 from January 1998 to October 2008." At the height of this Icelandic stock market bubble, over 75% of the total market value consisted of the three major banks.

"How Iceland Collapsed" by the Wall Street Journal. Caption: "WSJ's Andy Jordan examines how Iceland's economic miracle came to an abrupt end and explains why the world should care about the collapse of the small country's financial system."

The depth of the crisis for Iceland

"Iceland -- the Nordic Zimbabwe," by Iris Erlingsdottir, Huffington Post, Jan 5, 2009, observed:

Since this collapse [Oct 2008], the Icelandic stock exchange has plummeted, the Icelandic crown [Krona] has lost one-half of its value, and the unemployment rate rose 60% from October to November. The sudden halt of major construction projects -- including what was to be an iconic opera house -- has caused foreign workers to flee the country in droves. Automobile sales have nearly stopped, and massive residential foreclosures loom. One-third of Icelanders have indicated that they are considering leaving the island.

The financial crash in Iceland in 6 minutes according to ABC´s 20/20, June 2009 (6:10): Caption: "... At the peak of Iceland's boom, Stefan Alfsson left his fishing boat and started trading commodities for an investment bank. `We could do more,' he said. "I got a bigger house, bigger and more cars, better snowmobiles." Then a modern saga began to unfold -- that of a nation of fishermen who became millionaires, only to lose it all and return to the seas."

Chronology in Five Acts

An allusion to the "Spaghetti Western" titled "The Good, the Bad and The Ugly" is not too far-fetched, except this go around it was more "Bagel" than "Spaghetti" in flavor.

"Las Vegas" and "Hollywood" come to Iceland, only here the movie poster's "jackpot" and "come and get it" phrase refer to a large percentage of Iceland's GDP, bigger than anything the central banks of Iceland, the UK, the Netherlands, and other countries were willing to handle. Indeed, the "fastest guns" --George Soros, Lehman Brothers, IMF, and Rothschild-controlled City of London-- said "Come and Get It!"

Top: Satire on President George W. Bush by artist David Dees, suggesting that "American" black ops and intrigue have been far more pervasive than anything to do with just George Soros and Iceland. Bottom: Wikipedia photo of David Oddsson in the White House in July 2004, shaking hands with a New World Order creature posturing as President of the United States.

The "Good"
(But otherwise possibly naive, misinformed, megalomaniacal, "handled,"or something else).

The main character can only be David Oddsson, introduced by Wikipedia as follows:

Icelandic politician and the longest-serving Prime Minister of Iceland, holding office from 1991 to 2004. He also served as Foreign Minister from 2004 to 2005. Previously, he was Mayor of Reykjavík from 1982 to 1991, and he chaired the board of governors of the Central Bank of Iceland from 2005 to 2009...

In contrast to this respectful introduction, the article "Top 10: Who’s To Blame For The Icelandic Crash," by "Dadi" at casts Oddsson as the number one culprit:

1. He wanted all the praise so he has to accept the blame. Within 50 years of ridding itself of a foreign monarch, the King of Denmark, Iceland had something close to its own. He went about changing a closed, regulated society and throwing it onto the free market of everything. Unfortunately he wanted complete control of where the wealth and power was supposed to go. He could have become a JFK but ended up a George W. Bush. You can throw Political Science Professor at the University of Iceland, Hannes Holmstein Gissurarson into the mix with David as they are attached lips to butt anyways. Retired for now, supposed to be writing his memoirs. Quite a few dinosaurs and Independence Partyjugend would like to see a return to politics. One of incredibly many top Icelandic politicians to battle cancer in the last decade.

Ironically, as recently as 2007, many treated Oddsson like a demigod of an alleged "Nordic Tiger." Take for example Join Dr. Steve Sjuggerud's June 2-8, 2007 Newsletter "This insider’s expedition to Discover Iceland:"

...With Prime Minister David Oddsson leading the charge, Iceland has miraculously transformed itself from a Socialist to a Capitalist state …in a handful of years. Oddsson lowered corporate taxes from 30% to 18%. He literally created financial markets (the stock market began in 1993). He cut red tape and took the government out of industries it didn’t belong in.
The economy responded by growing at a crazy rate. Unemployment hit an astoundingly low 1% in 2001 and have stayed low. Wages have risen significantly across the board, with GDP now well over $30,000 per person. Oddsson has worked all these “miracles” and yet, by cutting spending and selling state-owned industries, the Iceland government can be debt free in three years, if it decided to.

Oddsson symbolizes that part of Iceland's top leadership which became infatuated with a perverse brand of anarcho-libertarian ideology promoted by American Zionist neocons. As I will explain later, this version contrasts sharply with the Old Right brand of American libertarianism of 18th and 19th century Americans such as Thomas Jefferson, James Mason, and Henry Calhoun.
This neocon brand of "libertarianism" is blind to ethnic, racial, and national differences, and could care less about causing Nordic Icelanders to lose their cultural, political, and ethnic popular sovereignty by stripping away all their defenses against foreign predators and parasites. This includes dropping all defenses against Zionist "New World Order" takeover.
In the real world, achieving long term economic and social success involves a much more complicated process than simply fulfilling the anarcho-libertarian obsession with "privatizing everything." That is, taking economic assets and putting them up for sale to the entire world. After all, trading the use of assets for quick cash to stimulate quick economic activity is exactly what a woman does with her own body when she poses naked for pornographers or stands on a street corner to do tricks as a prostitute.
Oddsson's role in the debacle not only illustrates the limitations of anarcho-libertarian ideology--but also reinforces points I made in Chapter 29 of the Mission of Conscience series where I explain how Congressman Ron Paul's own brand of anarcho-libertarian ideology --also a mishmash of both contemporary "neo-con" and "Old Right" -- may be "necessary but not sufficient" in providing answers for America's current crises.

"Soros: Republic Enemy #1: Illegal Market Manipulation, Felony Insider Trading, Villain, Currency collapses" by Jim O'Neill Tuesday, Canada Free Press, September 15, 2009, comments: "What we have in Soros, is a multi-billionaire atheist, with skewed moral values, and a sociopath’s lack of conscience. He considers himself to be a world class philosopher, despises capitalism, and just loves social engineering....Soros is a real life version of Dr. Evil..."

The "Bad"

This consists of "Circle Z," the Dark Ring of Zionist plutocrats who dominate the City of London, New York City, and Tel Aviv, starring such Rothschild front men as George Soros (see the Madsen reports on Soros in Iceland in Part 2, Act II), Alistair Darling (UK Chancellor of the Exchequer), and the Goldman Sachs gang in New York City. See deep background on "Circle Z" in "Chapter 5: Profiling the Opposing Forces" of my Mission of Conscience Trilogy. Also, in "Chapter 33: Wall Street Coup de Etat," I expose high level banker "false flag" operations and quote from "Economic 9-11: Did Lehman Brothers Fall or Was It Pushed?" by Los Angeles attorney Ellen Brown, who explains how Alistair Darling "pulled the trigger" on Northern Rock (2007) and Lehman Brothers (Sept. 2008) before doing the same thing to Iceland in October 2008. Darling, Rothschild & Co. invoked anti-terror laws, froze accounts, and declared Iceland bankrupt in global media, creating a "run" on Icelandic banks and a self-fulfilling disaster prophecy. They selectively denied Icelandic banks and Lehman Brothers liquidity --while granting it for Goldman Sachs, JP Morgan Chase, Citibank and other cronies. Paul Joseph Watson noted in his article "Cost Of Bailout Hits A Whopping $24 Trillion Dollars;" $80,000 for every American,, 30 July 2009, that top global bankers are happy to unmercifully soak the U.S. taxpayer. Icelanders can sorrowfully refrain to their American counterparts "Join the club."

Left: British propaganda leaflet depicting Vidkun Quisling as a traitor. Caption in Norwegian "Quisling's conduct has brought him disgrace and contempt." Quisling declared himself head of state as a loyal subordinate to Adolf Hitler on April 9, 1940, the day the Nazis invaded Norway, even though his political party Nasjonal Samling never got more than 5% of the national vote. Quisling was executed in Norway after WWII for his treason, but when will Zionist fifth columnists in Nordic countries ever receive the same justice? Right: American Robber Baron and Rothschild front man John D. Rockefeller for whom "competition is a sin," satirized in a 1901 Puck cartoon. Did Iceland get its own versions of both Quisling and Rockefeller?


The "Ugly"

Starring Björgólfur Guðmundsson and his son Björgólfur Thor Björgólfsson, both of whom were once Iceland's richest men. The article "Top 10: Who’s To Blame For The Icelandic Crash," lists them as as "number 5" as follows:

5. Bankrupt a shipping company, run a few risky and failing businesses, go to post-communist Russia and make a buck, get a loan from a newly privatized bank to buy another bank because you are acceptable to the Independence Party, line the bank’s top positions with the Party’s favorite sons and daughters, run it almost to the ground, start a shady pyramid scheme called IceSave, destroy the lives of your countrymen and then ask for a discount on your loans. Last year Bjorgolfur Thor said that he had acquired all money could buy and now he was most concerned about leaving a great reputation. Might qualify for any worldwide list of top ten disastrous businessmen. Are now being battered from all sides, which is not surprising as they owe more money than the population of Central America. Recently asked for a discount on the loan they took from Bunadarbankinn to pay for Landsbankinn in the beginning, probably challenging the world record for chutzpah. Will probably continue to live in luxury with the money they’ve got stashed away in tax-havens.

Based upon their probable Russian [Jewish] mafia connections, as documented by the Icelandic Review and other eminent sources, and their likely City of London affiliations, there is another area where the "two Bjorgolfurs" could possibly rate ahead of even David Oddsson on the "Top Ten List." They may have willingly served as "Manchurian candidates" to infiltrate, destabilize, and ultimately enslave Iceland to the "New World Order," just like John D. Rockefeller once served as a Rothschild front man to help take over America. (See Chapter 10 of Eustace Mullin's work Murder by Injection).
Dodgy leaders with shady backgrounds are all too common these days, to include U.S. President Barry Soetero (aka Barack Hussein Obama II) a suspected Mossad-CIA front man (See Chapter 35: "The Election of `Bush in Blackface'" and my Obama Nation web page). According to U.S. attorney Phil Berg, Barry Soetero was adopted in Indonesia, thereby forfeiting any claim to "natural born" U.S. citizenship status and hence any right to become President of the United States under the U.S. Constitution. According to Alex Jones, "Obama" also violated Section 9 of the U.S. Constitution and committed a felony when as U.S. President he accepted chairmanship of the U.N. Security Council.

A Quick Aside

In this work I say many very critical things about America's current political leaders. However, I do not want to give the reader the impression that I think all American leaders are evil. To the contrary, America has had some very good leaders in the past who have reflected traditional American conservative core values.

Henry Ford

Henry Ford and Walt Disney are two good examples. Henry Ford not only led the world in technological and manufacturing innovation, but also cast new light on what he called "America's foremost problem" in his 1920's work The International Jew series. This masterpiece identifies high level criminal patterns that have been more recently repeated in Iceland. One can also get a good sense of Ford's conservative values through his Introduction (and my Foreword) to his classic work My Life and Work.
Walt Disney promoted family values and a reverence for European folk traditions through his Disney characters at a time when Jewish-controlled Hollywood revealed its tendency to push the envelop on "cultural Marxism," XXX pornography, pedophile protection, and other forms of decadence. Hollywood very openly and actively encouraged hatred for all things German beginning with its 1933 declaration war on Germany. (See the 1933 Daily Express headline "Judea Declares War on Germany," in the article "Revenge of the Neanderthal" by Willis Carto, May/June 2010 Barnes Review special issue).

"Jewish Professor Says Porn Industry is a Weapon used by Jews Against Gentiles,", 2/26/2007, caption: "Jewish Professor of American History at Aberdeen University in UK, Prof. Nathan Abrams. He boasts that Jews were the driving force of the modern pornographic industry and that their motivation is in part to destroy Gentile morals."


Ford and Disney probably felt as deep a personal animosity towards Zionists as Richard Nixon and Rev. Billy Graham (Please see their recorded phone conversation in the first part of the YouTube segment "Should Christians Support Israel" also embedded in Part 5 of this work). Nevertheless, they offered a balance between creative problem solving and conservative values that did tremendous good for America.
More on Walt Disney's behind-the-scenes value conflicts with "Judea" in Appendix V of Part 6.

`Walt Disney' by Neal Gabler, New York Times, 3 Dec 2006 caption: "Vice President Richard Nixon and family at Disneyland, June 1959; Walt Disney is at right, and Art Linkletter in the bubble on top."



Forward to Part 2, Act 1


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