Perhaps Cyprus should call 1-800-ICE-LAND

 

by John Galt
March 24, 2013 20:30 ET

 

As of just about 40 minutes ago, it would appear that the European Union has imposed another deal on the tiny island nation of Cyprus. There will be more details forthcoming but in the end, the European hedge funds and banksters will wrestle control of the sovereignty of another nation away from its people as they have in Greece, Ireland, Italy, and Spain. The obvious alternative for the people of Cyprus to indeed become the next Switzerland of the European continent or better yet, a hybrid between Qatar and Hong Kong is still available for those willing to brave five long hard years of economic contraction.

All they have to do is call 1-800-ICE-LAND and withdraw from the European Union. By re-establishing their national sovereignty by controlling their own fiat currency instead of submitting to the whims of Paris, London, Berlin, and Brussels, they have a chance to improve and save their floundering island economy as it turns on the soon to be exploding natural gas and oil revenues.

If one thinks that this is too painful, look to the tiny island nation of Iceland which in just over 4 years of its rebellion against their London banking masters, has turned the corner and begun to expand its economy after hitting rock bottom in 2010. The first chart tells the tale best, as GDP is once again expanding:

ICELAND_GDP_20072012jgfla

While the economy is not growing at the scorching pace of the early to mid-2000’s, it is positive and out of the depression which was initiated by the foreign assisted financial crisis that they turned away back to its origins in London and Brussels.

Meanwhile manufacturing has rebounded sharply as the chart reflects below:

ICELAND_MANUFACT_2007_2012

As a result, the rebound in the Icelandic stock market has started to expand once again also:

ICELAND_EQUITIES_20072012jgfla

Sadly, unemployment is still lagging yet starting to decline as the economy stabilizes:

ICELAND_UNEMPLOYMENT_2007_2012

The deal is simple: IF Cyprus wishes to remain a free and independent nation, it must take a stand now and decide on a future of freedom or slavery; economic bondage or true capitalism.

The ball is in the court of the politicians and a terrified population.

If they need to learn the difference, calling on Iceland as an example versus Greece is all they should need to know.

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