http://www.freedom4um.com/cgi-bin/readart.cgi?ArtNum=78110
http://polizeros.com/2008/10/04/lehman-failure-craters-iceland-bank-maybe-their-economy-too/
http://www.telegraph.co.uk/news/worldnews/europe/iceland/3135874/Icelandic-bank-with-British-savers-money-enters-crisis-talks.html
Here is a quote from an Icelandic man on one of the Kitco discussion groups:
Here are some news from my country, Iceland!
On monday one of our 3 banks got nationalized, taken over by the government. That has sent shockwaves throughout our financial system, and as a result, the credit rating of Iceland and many companies got downgraded.
In the past 3 days our currency has CRASHED. 4% on monday, 5% yesterday, and another 4% today. Already the currency (the Icelandic krona) had plummeted since the beginning of the year.
Today, $1 costs us just over 110 ISK, but 9 months ago $1 cost us only 60 ISK.
Graph showing the crash of my nations currency in the past 9 months, see the steep curve up in the most recent days:
In short, our currency is just under half of what it was at the beginning of the year.
Thank God I had purchased gold for all my savings (which was in ISK), and transferred all my money to G---Money.com... as my savings account was at the bank that almost went under.
I possibly saved all my lifes savings by taking the decision to buy gold. Imagine that. But at least I saved 55% of my savings.
You think this can't happen to you? If you would have asked me a year ago if this was possible I would have said absolutely "no".
Trust your instincts. The financial system is collapsing. GET OUT, GET OUT!
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