Comments on: Iceland lowers interest rates http://www.icenews.is/index.php/2010/03/17/iceland-lowers-interest-rates/ Thu, 09 Feb 2012 22:58:29 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Visit Iceland » Central Bank of Iceland lowers interest rates http://www.icenews.is/index.php/2010/03/17/iceland-lowers-interest-rates/#comment-156197 Visit Iceland » Central Bank of Iceland lowers interest rates Wed, 05 May 2010 14:01:14 +0000 http://www.icenews.is/?p=12980#comment-156197 [...] Iceland lowers interest rates [...] [...] Iceland lowers interest rates [...]

]]> By: Jorge http://www.icenews.is/index.php/2010/03/17/iceland-lowers-interest-rates/#comment-128784 Jorge Thu, 18 Mar 2010 10:53:52 +0000 http://www.icenews.is/?p=12980#comment-128784 The krona is that tiny currency, strongly appreciated, when policy rate is cut! If they persist in revaluing artificially, soon the Icelanders will be very rich men again! Situation is worse for days and, they got, artificially, 20 kronur against the Euro! I understand: your People; when krona was devalued, 85 to 350 against Euro, also you did think: oh! my People! The Icelanders. You got 20 Kronur against the Euro, and, inflation is not targeted in Iceland: Houston, we have a problem! ; ICB, you have a problem! The krona is that tiny currency, strongly appreciated, when policy rate is cut!

If they persist in revaluing artificially, soon the Icelanders will be very rich men again!

Situation is worse for days and, they got, artificially, 20 kronur against the Euro! I understand: your People; when krona was devalued, 85 to 350 against Euro, also you did think: oh! my People! The Icelanders.

You got 20 Kronur against the Euro, and, inflation is not targeted in Iceland: Houston, we have a problem! ; ICB, you have a problem!

]]> By: SIReuro http://www.icenews.is/index.php/2010/03/17/iceland-lowers-interest-rates/#comment-128471 SIReuro Wed, 17 Mar 2010 15:24:23 +0000 http://www.icenews.is/?p=12980#comment-128471 IT DOES NOT MATTER WHAT THEY DO OR NOT TO TRY TO KEEP ALIVE A DEAD CURRENCY. ICELAND'S MAIN PROBLEM IS HAVING A DEAD KRONA AS ITS NATIONAL CURRENCY. THE KRONA IS THE SIKNESS OF THE ICELANDIC ECONOMY. BANKERS NEW THAT AND THAT IS WHY THEY WANTED TO GET RID OF IT EVEN IF IT CAUSED THE RUIN OF THEIR COUNTRY. SOON TWO YEARS OF MISERY, AND STILL COUNTING... AND THE IMF LOAN HASNT BEEN DELIVERED YET. WILL THAT HAPPEN THIS YEAR? AND IF... HOW MANY YEARS WILL BE NEEDED FOR ICELAND TO PAY BACK IMF AND NORDIC COUNTRIES LOANS, AND ALSO PAY ICESAVE?? 10 YEARS? 20? MAYBE MORE?? WHATEVER THEY DECIDE TO DO, ICELANDERS WILL HAVE TO ENDURE MORE POVERTY, CUTS IN HEALTH AND EDUCATION SYSTEM, AND HIGH LEVELS OF UNEMPLOYMENT FOR AT LEAST THE NEXT 10 YEARS... AND WHAT IS WORSE... SOME OF THE LOWEST SALARIES IN EUROPE. I LAUGH TIL MY STOMACH HURTS WHEN I SEE ICELANDERS THINKING ABOUT DEVELOPING NEW IDEAS FOR ECONOMY, NEW BUSINESS, AS IF THAT WAS GOING TO SAVE THE ECONOMY OF ICELAND. NO MATTER WHAT YOU DO, NO MATTER HOW MANY NATURAL RESOURCES YOU HAVE... YOU NEED A STRONG CURRENCY TO MAKE ALL THAT WORK, AND TO CASH THE BENEFITS OF ECONOMIC ACTIVITY. IT IS JUST A VERY FUNDAMENTAL THING IN TRADE AND ECONOMY. AND PROBABLY THE OLDEST AND MOST BASIC ELEMENT OF IT: CURRENCY, WICH IS A VALID METHOD OF PAYMENT. AN OBJECT (IN THIS CASE MONEY) THAT REPRESENTS THE VALUE OF SOMETHING. AN ECONONY CAN SIMPLY NOT FUNCTION WITH AN OBSOLETE AND DEATH CURRENCY THAT HAS LOST ALL ITS VALUE FOR THE REST OF THE COUNTERPARTS. THIS MEANS THAT IF A CURRENCY IS NOT ACCEPTED AS A VALID "PAYMENT OBJECT"... TRADE AND COMMERCE IS NOT POSSIBLE. I ONLY SEE ONE OPORTUNITY FOR ICELAND AND THAT IS SOMEHOW BEING ABLE TO CATCH UP WITH THE EURO. AND DROP THE ICELANDIC KRÓNA ONCE AND FOR ALL. THE ICELANDIC KRÓNA IS A VERY HEAVY STONE THAT IS SINKING AND IS TAKING THE ECONOMY OF A WHOLE NATION WITH IT INTO THE DEEPEST OF THE ATLANTIC OCEAN. IT DOES NOT MATTER WHAT THEY DO OR NOT TO TRY TO KEEP ALIVE A DEAD CURRENCY. ICELAND’S MAIN PROBLEM IS HAVING A DEAD KRONA AS ITS NATIONAL CURRENCY. THE KRONA IS THE SIKNESS OF THE ICELANDIC ECONOMY. BANKERS NEW THAT AND THAT IS WHY THEY WANTED TO GET RID OF IT EVEN IF IT CAUSED THE RUIN OF THEIR COUNTRY.

SOON TWO YEARS OF MISERY, AND STILL COUNTING… AND THE IMF LOAN HASNT BEEN DELIVERED YET. WILL THAT HAPPEN THIS YEAR? AND IF… HOW MANY YEARS WILL BE NEEDED FOR ICELAND TO PAY BACK IMF AND NORDIC COUNTRIES LOANS, AND ALSO PAY ICESAVE?? 10 YEARS? 20? MAYBE MORE??

WHATEVER THEY DECIDE TO DO, ICELANDERS WILL HAVE TO ENDURE MORE POVERTY, CUTS IN HEALTH AND EDUCATION SYSTEM, AND HIGH LEVELS OF UNEMPLOYMENT FOR AT LEAST THE NEXT 10 YEARS… AND WHAT IS WORSE… SOME OF THE LOWEST SALARIES IN EUROPE. I LAUGH TIL MY STOMACH HURTS WHEN I SEE ICELANDERS THINKING ABOUT DEVELOPING NEW IDEAS FOR ECONOMY, NEW BUSINESS, AS IF THAT WAS GOING TO SAVE THE ECONOMY OF ICELAND. NO MATTER WHAT YOU DO, NO MATTER HOW MANY NATURAL RESOURCES YOU HAVE… YOU NEED A STRONG CURRENCY TO MAKE ALL THAT WORK, AND TO CASH THE BENEFITS OF ECONOMIC ACTIVITY. IT IS JUST A VERY FUNDAMENTAL THING IN TRADE AND ECONOMY. AND PROBABLY THE OLDEST AND MOST BASIC ELEMENT OF IT: CURRENCY, WICH IS A VALID METHOD OF PAYMENT. AN OBJECT (IN THIS CASE MONEY) THAT REPRESENTS THE VALUE OF SOMETHING.

AN ECONONY CAN SIMPLY NOT FUNCTION WITH AN OBSOLETE AND DEATH CURRENCY THAT HAS LOST ALL ITS VALUE FOR THE REST OF THE COUNTERPARTS. THIS MEANS THAT IF A CURRENCY IS NOT ACCEPTED AS A VALID “PAYMENT OBJECT”… TRADE AND COMMERCE IS NOT POSSIBLE.

I ONLY SEE ONE OPORTUNITY FOR ICELAND AND THAT IS SOMEHOW BEING ABLE TO CATCH UP WITH THE EURO. AND DROP THE ICELANDIC KRÓNA ONCE AND FOR ALL.

THE ICELANDIC KRÓNA IS A VERY HEAVY STONE THAT IS SINKING AND IS TAKING THE ECONOMY OF A WHOLE NATION WITH IT INTO THE DEEPEST OF THE ATLANTIC OCEAN.

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