NightBlogger

Today, the Icelandic people are calling for revolution, literally:

Why are the Icelandic people now protesting? According to the BBC:

The banking system collapsed in October and the currency, the krona, has lost half its value in the past year. Iceland’s government was forced to take over three of its biggest banks last month when they could not keep up with billions of dollars of debt taken on to finance overseas expansion. The government has taken out $4.6bn (£3.1bn) in loans from the International Monetary Fund (IMF) and four of its Nordic neighbours to stay afloat.

That’s right, all that asset and currency inflation derived not from a miracle, but from the same old historical pyramid scheme of banking fraud. Now that con of seemingly free money is imploding globally and devastating Iceland’s small economy. Iceland’s neighbors in Scandinavia and the IMF have bailed it out with billions in emergency loans, but it will be a generation or two before the Icelandic people are dumb enough to fall for the “free lunch” con again. Before the credit crunch, this too good to be true economic miracle economy was sold to the Icelandic people with the help of the bankers and the media in such reports as this, “Where does the money come from?” More

Also See:
Thousands protest in Iceland; clash with police

Ron Paul talks about Fed chairman Ben Bernanke’s testimony in front of the House Financial Services Committee yesterday. Our economy faces enormous difficulties and one of the biggest culprits is the inflation tax for which the (privately owned) Federal Reserve is largely responsible.

CHENGDU (Reuters) - It was just an afternoon stroll down the streets of his hometown, but every step blogger “Yellow Peach” took was revolutionary. There were no placards or banners, no slogans or matching T-shirts, but by “taking a walk” together for a couple of hours, a few hundred citizens of a laid-back southwestern city were illegally challenging government plans for a new oil refinery.

They wandered in quiet clusters down a route circulated by Internet and mobile phone, watched by uniformed and plainclothes police who knew exactly why they were there and later punished six people for their role. “This was a victorious meeting, a rally. The kindling has already been scattered. What follows now depends on everybody,” Yellow Peach wrote, signing off on a string of messages to a fellow blogger giving a blow-by-blow account of the protest. More