ec1ac7 No.10793
>Icelandic government suggests removing the power of commercial banks to create money and handing it to the central bank>Iceland's government is considering a revolutionary monetary proposal - removing the power of commercial banks to create money and handing it to the central bank.>The proposal, which would be a turnaround in the history of modern finance, was part of a report written by a lawmaker from the ruling centrist Progress Party, Frosti Sigurjonsson, entitled "A better monetary system for Iceland".>"The findings will be an important contribution to the upcoming discussion, here and elsewhere, on money creation and monetary policy," Prime Minister Sigmundur David Gunnlaugsson said.http://www.redicecreations.com/article.php?id=33046The Telegraph
https://archive.today/ikOxRhopefully it'll go through swiftly. Could an Icelandic anon give some insight to this?
6238b0 No.10797
jesus this is huge, the elite wont allow this to happen at all, expect a coup or something.
11992a No.10801
>>10793That sounds great! The low equity ratio of banks was a terrible big problem in the past and is today. If you think about it even Basel 4 only proposes a core tier 1 capital ratio of 7%.
Really curious to see whether it will be implemented and how it plays out.
e6cbad No.10802
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6238b0 No.10808
>>10797>removing the power of commercial banks to create money and handing it to the central bank.face value this looks good but if the central bank is just the icelandic equivalent of the federal reserve does it really change anything? unless their central bank is nationalised this isnt as good as it looks.
b65dcf No.10811
File: 1428595874697.jpg (678.05 KB, 1307x1851, 1307:1851, Dorrit_Moussaieff_(cropped….jpg)
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be0a94 No.10813
>>10808>private central bankWat
Of corse the central bank is a state owned institution.
6238b0 No.10814
>>10813uhh no, the fed is not state owned, no country in the western world has a state owned central bank.
1534fa No.10815
>>10801I can't speak yiddish, translation?
73df36 No.10817
>central bank
How about no banks? Jackson warned us of the evil of the central banks. Paper money is worthless
403d43 No.10828
>>10808The Icelandic central bank is state owned.
284cc5 No.10829
>>10817Paper money is actually imperative.
73df36 No.10832
>>10829only if it's backed by something of actual worth
be0a94 No.10836
>>10814U wat m8
Icelands central bank is state owned. I don't know of a single central bank outside the US which is privately owned.
fdab86 No.10839
last time this happened it was WWII
7e5939 No.10842
It appears that this is more about restricting the ability of banks to lend money they don't have. The article mentions that the central bank is the only bank allowed to print money and they want to also make it the only bank that can "create" money via a line of credit.
I don't know what purpose commercial banks would serve after this, they'd be reduced to middlemen between the people and the central bank for lending, though i suppose the modern work environment requires a bank account so they wouldn't vanish completely.
be0a94 No.10845
>>10842They can still lend the money they have, as banks have been doing for centuries.
4673ea No.10846
>>10814only america is this bad.
Bank of England is a separate organisation owned and controlled by a government body.
7e5939 No.10847
>>10845Most banks use fractional reserve lending, where they only have to have a small percentage of the money they lend in the vault, and the rest is credit.
Banks don't like to actually lend their real money because then they can't use that for investments.
ec1ac7 No.10854
>>10846>Bank of England is a separate organisation owned and controlled by a government body.Thats absolutely false, even dangerously so. BoE is as private as a corporation gets and it has been for centuries, from its very formation.
403d43 No.10855
>>10847>Banks don't like to actually lend their real money because then they can't use that for investmentsBanks in Venice were not allowed to invest in anything other then the building that housed them. Why do think that was?
be0a94 No.10861
>>10854>Bank was privately owned by stockholders from its foundation in 1694 until nationalised in 1946.[http://en.wikipedia.org/wiki/Bank_of_England 4673ea No.10864
>>10854>>10861topkek, nice going americunt
284cc5 No.10872
6238b0 No.10878
>>10861>>10846>>10836they're nationalised in name but in reality all the central banking nation's money is in the private sector, the 'nationalised' central banks are nothing more than fronts for private interest bearing loans by private entities.
725689 No.10891
Goddamn, I really want to move to Iceland.
be0a94 No.10893
>>10891Fuck off we're full
11992a No.10899
>>10815Sure, I try to make it understable and simplify it a bit.
So banks a have special way of working which has to do with the money creation thing. You can deposit money at a bank and banks can give out loans.
Let's say you deposit $100 in a bank. The bank has regulations (like Basel I, Basel II, Basel III and Basel 4) which says that they aren't allowed to loan out all the deposits. That is because of what happens if the bank loans out your $100 and you want it back immediately. Obviously, that doesn't work.
So let's say they have to keep reserves of 10% of the deposits. That is they can loan out your $90 and keep $10 in reserves.
Shlomo visits the bank and wants to take a loan of $90. He takes the loan and deposits this $90 in an other bank. This bank can now loan out $90 * 90% = $81.
So at this moment, your $100 were multiplied into $100 + $90 + $81= $271. This will repeated again and again. This is called the money multiplier. In this case your $100 will become $1000. And that's the abilitiy of banks to create money.
—-
Now how does equity ratio come in? If you look at a balance sheet you will see (see pic, on the right side) that the
liabilities do consist of customer deposits, bonds and shareholders' equity. Deposits and bonds is something the bank has to pay back eventually but shareholders' equity (normally) stays there.
These things that you have to pay back are similar to loans you take out for your college or house (debt). Sure they help you finance some things but you're fucked if you can't pay them back. And here the risk comes it.
The ratio of the shareholders' equity to your total assets (which equal the liabilities, both sides are always the same) is the equity ratio. The higher the ratio, the more equity you have and the lower the risk.
—-
So now the last thing is Basel 4 and core tier 1 capital ratio. Basel 4 is a propsed regulation which was predeceded by Basel 1 - 3.
The Core tier 1 capital ratio is a bit more interesting but not hard to understand if you have a bit of grasp of the equity ratio.
Core capital is the minimum require capital (=equity) a bank has to have. Tier 1 includes a bit more than just shareholders' equity. Tier 2 includes again a bit more than Tier 1.
The ratio is a bit different to the equity ratio in this that the assets are weighted by risk. The higher the risk the lower the assets.
And that's basically all
927a57 No.11016
I foresee Iceland will have a sudden increase in immigration, 'diversity' and 'tolerance'.
3b814c No.11020
>>11016
>Iceland is going into a multicultural mode
>This transformation must take place
>Iceland cannot be the monolithic culture that it was in the past
>Jews will be resented for their leading role 000000 No.11036
Uhhh, how is this revolutionary?
284cc5 No.11054
>>11036Do you live under a rock? How did you even find this place if you don't know economics?
Well, I recommend you to pass trough the whole process:
- Watch libertarian videos on youtube, mostly from Milton Friedman and Tomas Sowell
- Become a libertarian and study it more
- Learn about the Rothschilds
- Learn the truth about the FED
- Learn about Cultural Marxism/Frankfurt School
- Learn about the truth of Imperial Russia and its State Bank
- Watch The Greatest Story Never Told
- Learn the truth about NatSoc Germany
- Goodbye Libertarianism, Hello Facism
Of course, do your own research as well, but I recommend this reading after all that: Web of Debt, by Ellen Brown.
8cdb31 No.11057
YouTube embed. Click thumbnail to play.
>>11036It means the US is bound to accidentally stumble upon oil in Iceland soon :^)
ada14c No.11059
>>11036Get a copy of this book, written by a director of the Central Bank of South Africa. Explains it all in only slithly more than 100 pages, with little to no prior knowledge of finance necessary.
db8f64 No.11060
>>10893Welp, time to conquer and subdue the Icelandics for our new White homeland
ada14c No.11135
>>11063Rothschild coat of arms is pretty Jewish if you ask me
d94a45 No.11136
>>11135Yeah, but why not include an actual Rothschild instead of just their family crest? There's too many goyim in the cover.
34211a No.11138
>>11063No, but none of the faces there are of central bankers. They're of people who resisted central banking.
d94a45 No.11142
>>11138
>They're of people who resisted central banking.Not all of them.
077014 No.11148
>>10793Oy vey!!!! OY VEY
Its like they are doing a shoah and killing the 666666 Jews that lived in Iceland before ww2 all over again!! !!
This clearly explains Sweden
the Vikings kept raiding and settling new lands while their less aggressive ones stayed back home
Its too bad the north American settlements weren't bigger and didn't spark a full continental Viking civilization which would have rivalled Europe in the so called colonial ages
Seriously Iceland even has ultra nationalist language centers focused on maintaining a pure Icelandic vocabulary instead of just borrowing foreign words
I hope this works out and stirs the minds of "centrists" all across Europe
077014 No.11149
>>11036>>11057Of course this is not a big issue Gus hehe and we know how all those fossilized forests are now in the northern part of the northern hemisphere
..-HEY yeah I do believe there's some oil in Iceland
077014 No.11153
>>10878Oy vey you are right this is not news at all hehehehe just some libertarian scam hehehehe shalom
077014 No.11155
>>11153>>11016I swear in the name of all that is right that I will participate in some major happenings if anything like this even mildly affects Iceland
ada14c No.11176
>>11059Julius Cesar enacted various financial and social reforms designed to disempower the wealthy Roman elite and increase the wealth of the common people, including regulations as to how coins are minted.
Lincoln (Greenback), Hitler (Reichsbank nationalization), the Czar and Napoleon used central banking in constructive ways, mostly relying on debt-free fiat currency.
Gaddafi was in favor of abandoning debt-based central banking and had plans for a gold-based African currency.
Not sure who that British-looking fella is, although he does look a bit like Oliver Cromwell, who was a pawn of Netherlands-based Jewish bankers.
Not sure why JFK is included, but I hope it's not just because of that executive order which Alex Jones-tier conspiracy theorists claim was going to destroy the Fed, and in reality was merely about relegating bureaucratic tasks for convenience.
077014 No.11187
>>11176So unless the book talks positively about these men it is a shill book and not worth reading in our limited time in this life.
ce05a4 No.11207
>>10793OY VEY!
Haven't we, G-d's chosen, suffered enough?
d97b24 No.11211
>>10797No that would be to obvious.
More likely a "natural" disaster or volcanic eruption etc
34211a No.11243
>>10797>the elites won't allow another rothshill central bank to come into powerWhat are you on, my dude?
a2dcab No.11246
>>11243hence this post
>>10808 ada14c No.11359
>>11187The book does talk positively about them.
792194 No.11454
>>10878This
They try to throw you off with the name, but it's actually a privately owned institution
8f0aa8 No.11488
>>11176>I hope it's not just because of that executive orderYou really shouldn't be so loud on topics you know nothing about.
258261 No.11492
>>10793>"revolutionary proposal"Yea you mean the basic financial modus operandi until the revolutions of the 1800s
c4239f No.11523
>>10855If only it was like that now. Would be fucking based.
077014 No.11724
>>11492are you saying those were all the opposite of freedom and actually empowered jews?
e1ef06 No.12206
>>10814>>10814>no country in the western world has a state owned central bank.You're stupid
"The Bank of Canada, BoC (French: Banque du Canada) is Canada's central bank.[1] The bank was founded by the Bank of Canada Act[2] on July 3, 1934, as a privately owned corporation. In 1938, the bank became a Crown corporation, belonging to the monarch in right of Canada.[3] The Minister of Finance holds the entire share capital issued by the bank. "Ultimately, the Bank is owned by the Minister of Finance on behalf of Her Majesty in right of Canada."
e1ef06 No.12217
>>12208So despite the law stating otherwise your "fact" filled youtube video states the Bank of Canada is somehow owned by some family of kikes.
553b5b No.12235
>>12208
> Crown Corporation
> Owned by the Crown
> The "Crown" of Canada is still the British Monarch
> BoE owns the Crown in all but name.
> BoE owns Canada's Central Bank.
> Rothschilds own BoE. 077014 No.12236
4673ea No.12258
>>12235but BoE is owned by the state.
87616b No.12494
YouTube embed. Click thumbnail to play.
Replace finland with iceland.
Too bad the public will probably believe this event will have nothing to do with the impending doom of Iceland. That is if the economy doesn't collapse in September.
fc8c3e No.14596
>>10815
Nigger… you better learn this shit, its how the jews control the fucking civilized world you fucking nog!