Iceland Prime Minister's doomer speech ...
Moderator: Peak Moderation
Cheers Candy and Oilslick
I feel at this moment both very strong and at the same time utterly intellectually exhausted
For four years now, friends, family, loved ones and work colleagues have regarded me as 'a bit paranoid'. (I'm actually too well self-educated for my own good) (humility is all it takes!)
Every passing piece of advice that I have formulated (with the help of all of your good selves) has been brushed off (I've continued nonetheless to learn and practice useful stuff) and now that we (me, my partner and our 2 year old) are in the same boat as everyone else (i.e. the money has evaporated) it now appears obvious to all that 'hey he was right"
Do I win some sort of prize!! Ha! Irony come on in!
I feel at this moment both very strong and at the same time utterly intellectually exhausted
For four years now, friends, family, loved ones and work colleagues have regarded me as 'a bit paranoid'. (I'm actually too well self-educated for my own good) (humility is all it takes!)
Every passing piece of advice that I have formulated (with the help of all of your good selves) has been brushed off (I've continued nonetheless to learn and practice useful stuff) and now that we (me, my partner and our 2 year old) are in the same boat as everyone else (i.e. the money has evaporated) it now appears obvious to all that 'hey he was right"
Do I win some sort of prize!! Ha! Irony come on in!
Hi Sarge, and a massive warm welcome to Powerswitch!!! 
Can't believe you had exactly the same experience re. Iceland . . . I'm lucky, my OH does entertain the peak oil ideas, so once she understood what I meant she 'got it' straightaway.
Absolutely gutted to hear about your family's experience . . . unbelievable that it could actually happen. Not much glory in being able to say 'I told you so' is there really I suppose.
I think a lot of people just at the minute are saying to themselves, "hang on, maybe those guys are onto something" . . . but it's way too late now unfortunately.
Can't believe you had exactly the same experience re. Iceland . . . I'm lucky, my OH does entertain the peak oil ideas, so once she understood what I meant she 'got it' straightaway.
Absolutely gutted to hear about your family's experience . . . unbelievable that it could actually happen. Not much glory in being able to say 'I told you so' is there really I suppose.
I think a lot of people just at the minute are saying to themselves, "hang on, maybe those guys are onto something" . . . but it's way too late now unfortunately.
Andy Hunt
http://greencottage.burysolarclub.net
http://greencottage.burysolarclub.net
Eternal Sunshine wrote: I wouldn't want to worry you with the truth.
Hello & Welcome Sarge. It's not too late - At least one person in your family is aware, which may seem like little consolation, but that puts you and yours streets ahead of the rest in terms of preparing psychologically. The community will need people like you around, keeping a cool head whilst others are losing theirs.
Anyway, back to Iceland (not the supermarket): Don't worry, its being bought out by their "new friends" in Russia.
This should get the conspiracy theorists going:
http://www.ft.com/cms/s/0/41392f38-9450 ... ck_check=1
Anyway, back to Iceland (not the supermarket): Don't worry, its being bought out by their "new friends" in Russia.
This should get the conspiracy theorists going:
http://www.ft.com/cms/s/0/41392f38-9450 ... ck_check=1
Iceland expressed disappointment on Tuesday that western allies had failed to provide support to help ease the country’s financial crisis, forcing it to turn to Russia for a €4bn loan.
“We have not received the kind of support that we were requesting from our friends,” said Geir Haarde, prime minister. “So in a situation like that one has to look for new friends.”
In spite of the new friendship, Mr Haarde said it did not extend to military co-operation, refuting the suggestion that Russia might be given access to an airbase vacated by the US air force in 2006. “We are a founder member of Nato,” noted an official, “categorically denying” any such deal.
"If we don't change our direction, we are likely to wind up where we are headed" (Chinese Proverb)
Mornin'
Well, this morning Darling has categorically guaranteed all deposits so looks like all is not lost yet for the in-laws
I'll let you know how it goes firsthand so to speak, should be a good indication of a reality gap (if any in this particular instance) between what the Government says and what actually transpires
Well, this morning Darling has categorically guaranteed all deposits so looks like all is not lost yet for the in-laws
I'll let you know how it goes firsthand so to speak, should be a good indication of a reality gap (if any in this particular instance) between what the Government says and what actually transpires
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RenewableCandy
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Iceland Currency collapse
Icelandic currency collapses.
Iceland's Krona Quoted Almost 50 Percent Below Peg
http://www.bloomberg.com/apps/news?pid= ... jzC1zbw8VI
Excerpts:
"Nordea Bank AB, the biggest Scandinavian lender, said the price suggested by bid/ask spreads in pre-market trading was 255 per euro, compared with the 131 per euro level established by the central bank yesterday."
"The currency isn't trading at the price the central bank has set and we're already seeing signs that people don't want to accept krona in transactions on Iceland.''
The Finns have had enough. Icelandic Krona to be delisted. Comparison made to Zimbabwe.
http://www.hs.fi/english/article/Icelan ... 5240063033
Excerpt:
"It was still possible to buy Icelandic krona (currency code: ISK) from Forex on Tuesday, but today the currency will no longer be up on the board. "
... how long before UN food drops do you you think? Or can an Icelander survive on lichen stir fried in seal fat? Cod will be off the menu as diesel to run the fishing fleet will be unaffordable.
Iceland's Krona Quoted Almost 50 Percent Below Peg
http://www.bloomberg.com/apps/news?pid= ... jzC1zbw8VI
Excerpts:
"Nordea Bank AB, the biggest Scandinavian lender, said the price suggested by bid/ask spreads in pre-market trading was 255 per euro, compared with the 131 per euro level established by the central bank yesterday."
"The currency isn't trading at the price the central bank has set and we're already seeing signs that people don't want to accept krona in transactions on Iceland.''
The Finns have had enough. Icelandic Krona to be delisted. Comparison made to Zimbabwe.
http://www.hs.fi/english/article/Icelan ... 5240063033
Excerpt:
"It was still possible to buy Icelandic krona (currency code: ISK) from Forex on Tuesday, but today the currency will no longer be up on the board. "
... how long before UN food drops do you you think? Or can an Icelander survive on lichen stir fried in seal fat? Cod will be off the menu as diesel to run the fishing fleet will be unaffordable.
"When the facts change, I change my opinion. What do you do, sir?"
John Maynard Keynes.
John Maynard Keynes.
The lights are going out in Iceland ...
http://ukpress.google.com/article/ALeqM ... YwF7gSe0DwCrisis-hit Iceland suspended trading on its stock exchange until Monday.
Iceland is sinking deeper into financial turmoil as its top-heavy banking system collapses.
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adam2
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Is food still readily available in the shops in Iceland?
Initial reports spoke of panic buying and empty shelves, but I have heard little since.
The currency appears to have suffered instant devaluation, it was formerly pegged at 132 Krona to the Euro but some reports state that now takes over twice as many Krona to buy a Euro.
That would be expected to double the price of imported food and fuel overnight.
Could never happen here could it?
Initial reports spoke of panic buying and empty shelves, but I have heard little since.
The currency appears to have suffered instant devaluation, it was formerly pegged at 132 Krona to the Euro but some reports state that now takes over twice as many Krona to buy a Euro.
That would be expected to double the price of imported food and fuel overnight.
Could never happen here could it?
"Installers and owners of emergency diesels must assume that they will have to run for a week or more"
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RenewableCandy
- Posts: 12777
- Joined: 12 Sep 2007, 12:13
- Location: York
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RenewableCandy
- Posts: 12777
- Joined: 12 Sep 2007, 12:13
- Location: York
Oh come on! We play a much cleaner game of football...Aurora wrote:Can we learn any lessons from this:
http://en.wikipedia.org/wiki/Argentine_economic_crisis_
Re: Iceland Currency collapse
I don't know what you're laughing about. Suffering is not funny, and we're next.skeptik wrote: ... how long before UN food drops do you you think? Or can an Icelander survive on lichen stir fried in seal fat? Cod will be off the menu as diesel to run the fishing fleet will be unaffordable.
"We're just waiting, looking skyward as the days go down / Someone promised there'd be answers if we stayed around."
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adam2
- Site Admin
- Posts: 10898
- Joined: 02 Jul 2007, 17:49
- Location: North Somerset, twinned with Atlantis
Re: Iceland Currency collapse
I fear that we may indeed be next, and I know that we should not laugh at suffering, but it can be funny when it happens to other people, especialy those who until recently appeared so prosperous and confident.Ludwig wrote:I don't know what you're laughing about. Suffering is not funny, and we're next.skeptik wrote: ... how long before UN food drops do you you think? Or can an Icelander survive on lichen stir fried in seal fat? Cod will be off the menu as diesel to run the fishing fleet will be unaffordable.
Does anyone know if food or fuel is already short in Iceland?
"Installers and owners of emergency diesels must assume that they will have to run for a week or more"