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Letter to the New Mayor of Reykjavik, Iceland

 

July 4, 2010

to: Jon Gnarr 

Mr. Mayor,


I am the writer/director of "The MoneyMasters" and the new film, "The Secret of Oz".
By coincidence, I landed in Iceland on May 31, 2010, two days after your election. 

I was asked to come to Iceland to try to help make suggestions for your economy. We formed something called the Icelandic Monetary Reform Working Group (IMRWG) and met with three members of Parliament, including Birgitta Jonsdottir.

Someone on your staff will be meeting with our group tomorrow (Monday). I just want to get in touch with you personally to briefly explain what it's all about. 

We (IMRWG) decided that the BEST thing to do was to try to meet with you to convince you to form the BEST BANK to help relieve the people whose homes were being foreclosed on by the banks. BEST BANK would be modeled on the Bank of North Dakota (BND). 

Here is how it works. The City of Reykjavik (CR) creates its own bank. Really, since Iceland has had bad experiences with banks being closely tied with certain political parties, it is probably BEST to call it "Bank of Reykjavik" (BR). But just for fun, let's call it Best Bank (BB).
Read more...
 

#8 on Amazon


 
"The Secret of Oz" is climbing the ranks on Amazon.com. It just hit #8 in Documentary/History, and #2,968 in all of Movies & TV -- an astounding ranking for a little film on economics.
 

 

Still Report #15 - Iceland

 
 
Iceland's situation is dire, but the people of Iceland are tired of the bankers' tricks. They are waking up to the fact that there is another way to run a country other than perpetual debt. This section will be added to "The Secret of Oz". 
 
http://www.youtube.com/watch?v=_ziWPPMdlqs
 

High Frequency Traders May Have Done It


One of my friends, Nathan Martin of "Nathan's Economic Edge" one of the top economics bloggers worldwide -- consistently in the top 20.
Anyway, Nathan is a technical trader, in other words he lives in the world of stock price charts. 
On the eve of May 6, 2010, just hours after the near-1000 point stock plunge, Nate wrote that the "fat finger" theory was a cover story for deliberate market manipulation designed to send Congress a threat. Nate, who watches and records market activity on a minute-by-minute basis, immediately saw that the market plunge started full bore at least a minute before the alleged Proctor & Gamble trade. Nate said that it was the high-frequence traders simply turning off their machines and the market in a few stocks collapsed to zero, causing the rest to quickly follow.
Read more...
 

The Proposed Bank of England Act

 

This is from a British friend of mine. An American friend, has mildly criticized it as not doing enough to reconcile the derivative mess, but it's interesting that people all over the world are starting to focus in on the prime target -- the debt money system of the privately owned central banks.

WHO ARE WE?

We're a group of economists, lawyers, engineers, former civil servants, university academics and business people who have realised that the root of the instability in the world economy, and huge burden of debt in every country, is due to the fundamental design of the banking system.

This is the only reform that could prevent a future financial crisis, clear the national debt, and restart the economy.

It cures the sickness in our economy and financial system by tackling the root cause of the problem, rather than just the symptoms.

It would make the 'inevitable' cuts in public services completely unnecessary, reduce the tax burden by up to 30% and allow us to clear the national debt. It takes control over the UK's money supply out of the hands of the commercial banking sector and restores it to the state, where it can be used to benefit the economy, rather than providing a £200 billion annual subsidy to the banking sector.

 

Read more...
 
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