What happened in Iceland?

After reading some Icelandic blogs over the last few days it seems that some bloggers are starting to avoid the issue of the economic disaster that happened here and is still happening. They admit that openly, and who can blame them when the news and rumours get worse every week, when people think that things cant get any worse. It is like Murphy’s law, if some thing can go wrong, it will go wrong. The Icelandic version of Murphy’s law is that wen things cant get any worse, they usually do.

The question that remains when thinking about this rollercoster of a society we call Iceland is this: What the hell happened?

In very short, everyone failed the public. The people’s savings and pension funds where used as gambling money to either gamble on the money markets, money laundering for various organisations, to steal money for personal gain, to drain all the money from Iceland and everyone else that got sucked in to this largest scam in modern history.

There are about 30 individuals and a few companies responsible, and to help those people they needed politicians to support them, to lie for them, to fix the system for them, to manipulate the public. The media took an active part in this too.

This is generally called treason, when certain people directly, systematically and willingly work against the best interest of the public and their nation. No matter if they are bankers, CEO’s or politicians.  What happened here can be called the biggest scam in history. The biggest political fraud in the western world. The biggest bank robbery of our times. The biggest rape of a nation known in recent times.

The business menn fell for their own greed, or was it all organised? It seems to have been organised. Björgólfur Thor and his father Björgólfur Guðmundsson set up a play to show Iceland how rich they where, and even the international community bought into it.

Jón Ásgeir of Baugur did the same thing, but he seemed to be in some sort of retail business but still managed to drain all the money from every company he came close to. Where is the money they all drained from us and our pension funds?


About this entry