During a light rain, thousands of Icelanders demonstrated in Reykjavik on Saturday (2008-11-22) demanding the resignation of Prime Minister Geir Haarde and Central Bank Governor David Oddsson for failing to stop a financial meltdown in the country. It was the latest in an escalating series of protests in the capital over the island nation’s crippled economy.
A separate group of several hundred people gathered in front of the city’s main police station demanding the release of a young protester being held there. Police in riot gear used pepper spray to drive back the attempt to free the protester during which several windows at the police station were shattered. Five were injured. The protester was eventually released after he paid a fine for rioting.
Over the past year Iceland’s currency, the krona, has fallen by 50% as the Scandinavian country nationalized its three biggest banks (Kaupthing, Landsbanki, and Glitnir) to prevent their collapse. It has also received $10 billion in emergency loans from the International Monetary Fund (IMF).
This is not a third world country packed with unwieldy mobs. Iceland is well known as a peaceful nation with one of the lowest crime rates in the world. Oddly, however, these highly aberrant riots over bank collapses and IMF bailouts are essentially unreported by the mainstream media (MSM) here in the USA.
Moreover, most Americans are not aware of the three dozen peaceful protests against the Federal Reserve during the “End the Fed” events over the weekend (2008-11-22) in our own country. It seems that these major events in Iceland and the USA were largely ignored by corporate media in order to prevent further unrest as our own government’s unfettered and ceaseless printing of money (donated to their own friends, their own investment holdings, and their own financial supporters) expands an enormous hyper-inflationary bubble that is increasingly likely to explode into a full-blown depression.
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