Blog>Current Events

Reykjavík Rising

“Only when the last tree is cut, the last fish is caught, and the last river polluted; when to breathe the air is sickening, you will realize that wealth is not in bank accounts and that you can not eat money.”

attributed to Alanis Obomsawin, 1972

[online video, set cookie for content]

There is a slow dissemination of information explaining the 2008 economic meltdown and the hidden mechanisms that led up to the disasterous situation.

I’ve stood infront of the Shah of Iran, the presidents of Indonesia, Ecuador, Panama, members of the Royal House of Saudi Arabia and I’ve said something like, ‘In this hand I have millions of dollars, for you and your friends if you play our game. In this hand I have a gun, in case you decide not to.’ Now my words were more diplomatic than that, but that was the message.

Perkins, John.

Iceland was of course one of the first countries’ to go in the 2008 meltdown.

And some say that we are the canary that went into the mine. We were the one that crashed first and should we come out alive then there will be hope for others. And we have come out the other end. And some people say it’s brilliant how unbelievable the recovery is but if nothing changes in the structure itself – it’s not a revolution, and there is nothing great about it. Ofcourse we can resample this Frankenstein monster that just goes on and trashes the earth, and makes the rich more rich. And in the end there’s just going to be a hugh revolution where you know, war or something.

Reykjavik Rising“, 2014.

To know what is happening now, it is important to remember the mechanisms that were used after the 2008 housing crash, and what effect they will have in the future.

It was back in February of last year that Micheal Burry first warned of high inflation as a consequence of the Fed’s (Federal Reserve Bank) unprecidented money printing. He was tweeting “prepare for inflation”, hashtagging “doomed to repeat”. And calling out the US government and the Federal Reserve over the trillions of dollars worth of stimulus they had done. […] Fast forward twelve months and we are now running at a red hot inflation rate of 8.6%. […] But what is very interesting is that in the past month or so Micheal Burry has not just been doing victory laps, instead he has been tweeting quite extensively explaining why he believes this economic crisis and subsequent market downturn has only just begun.

Michael Burry’s Warning for the 2022 Stock Market Crash


Four Horsemen“, 2011. Renegade Inc. Accessed Jan. 17, 2022.

97% Owned: How is Money Created“, 2012. Independent POV. Accessed Jan. 17, 2022.

Reykjavik Rising“, 2014. Conscious Collective. Accessed Jan. 17, 2022.

Perkins, John. “An Economic Hit Man Confesses and Calls to Action“, 24.06.2016. TEDxTraverseCity, online lecture. Accessed May 21, 2022.

Michael Burry’s Warning for the 2022 Stock Market Crash“, 15.06.2022. New Media, online video. Accessed June 22, 2022.

Blog>Current Events

Crisis Infographics

The following info graphics serve to explain the different aspects of the current global economic crisis in understandable language. Basically governments are over-borrowing to pay for the different facets of government; war, bank-bailouts, economic bailout packages, along with the regular costs of running countries.

When the debt to GDP (ratio to debt) of a country gets too high they have to continue to finance the interest on the government debt, leading to a deficit in national income. GDP being the ‘gross domestic product’, the amount of income per capita (citizen) that a country generates. Eventually the debt gets too high and this means that the country can either default or print more money (causing hyper-inflation).

The system is based on secrecy, because if it was clear how much money major countries are in debt then the financial / investment markets would become unstable, giving the governments unfavorable credit ratings, causing investors to move to other markets and generally causing economic decline. An integrated facet of the current school of economic thought is that the economy must continually be growing in order to pay off the ever growing national debt. If the economy would reach a no growth or decline situation than the interest on national debt could no longer be covered by national income (unless taxes were raised). However a continually growing economy is an irrational thought because the earth and her resources are finite, eventually leading to a no growth situation (which is predictable and agreeable). In this leveled off or no growth situation national debt becomes impossible to pay off. The current economic paradigm is therefore impossible to sustain.

The American 2007 (+/-) homeowner crisis

[online video, set cookie for content]