LOL I heard they set fire to their computers to collect the insurance money.Quote:
Originally Posted by zenga
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LOL I heard they set fire to their computers to collect the insurance money.Quote:
Originally Posted by zenga
The sad truth is that they have no longer any active insurance companies to fraud with ... they are bankrupt as well.
Hey zenga, I'm from iceland.. and yeah the nation is pretty much bankrupt. You can blame that on a wanabebankers/criminals, stupid/corrupt goverment and sleepy public. Its just incredible how easy it was for them to fuckup a completely nice nation and it was good living here before the banks were made private.
For multiboxing, well im sure there are still plenty of guys doing it but after the crash all the prices in foreign currency kinda doubled for us since the devaluation of the krona, salaries havent change much here in kronas.
Hi Grettir, glad to meet another Icelandic multiboxer.
Yeah, a lot of my new mates on Iceland have talked about the politician's/banker's role in the crash, about how irresponsible they acted.
I didn't want to offend you or your country. As a matter of fact I have a couple of friends overthere. I joke with their country, they joke with my country. And i'm pretty sure things will come back to normal in the near future.Quote:
Originally Posted by grettir
Its fine Zenga, its just hard to hear the truth sometimes. Other then that I think we will get back on our feet sooner or later, only thing that worries me is the never ending dept, id rather declare the nation bankrupt then spend the next 30 years trying to pay off foreign depts created by privately owned companies, meaning that 70% of the taxes you pay go out of the country.
Raigirin - Hey bud, what brings you to land of the ice and snow at it darkest hours? Literally, we only have a few hours of sunshine this time of year.:D
The reason Iceland went down the drain so to say is because of bankers. Few people realize how powerful bankers actually are, and Im sure the same thing can happen in many countries - including my own. I dont want to put the blame on politicians or the people because the system is designed to take away their power at the same time as it is putting all the blame on them.
People rely on the mass media to tell them what to do, because they trust the mass media and even believe the mass media is there for the people. Because of this, an anomonous source is all it takes to trigger a war when the mass media pushes for it.
I will not say the public is stupid but I do believe that the majority of the public is severly misinformed on the realities of economis and banking, it seems to be that even inflation is a mystery most people dont know the mechanics behind. I believe this to be the case in most or all nations, including Iceland. With that I mean the people in other nations would not be able to do anything more than the icelanders if a similar crisis were taking shape in their nation.
I think more people should have their savings in real values like gold or silver. The icelanders who did this have actually had their savings increase in value instead of loosing them. This is helpful to manage through unemployment or even relocate to another country.
Your recommendation of silver and gold is interesting. If everyone owned silver and gold as a commodity it would be worth a lot less, especially if people needed to liquidate it for cash to pay the bills. Gold has gone up and down in value you know, and is not always a guaranteed good buy.
Quote:
Originally Posted by Multibocks
Gold and silver are finite currency hedge against inflation. Its better than holding onto a fiat currency that could be devalued at the drop of a hat.
However, your best bet has always been and will always be to diversify. If ever the need arises where the dollar is worthless, gold will go back to the new standard. In that case ammo will be worth its weight in gold.
Fat Tire, I agree, I think the best thing to do is diversify also.
Multibocks, Stick with your paper then.
Im not going to start a debate on gold/silver prices, Ill just lll just link to a site that has historical charts over these numbers :)
www.kitco.com