If anyone's been getting the feeds these past couple of months, Iceland's been hit pretty hard by the mortgage crisis. A little while ago they were offering 15% interest rates at their banks. http://www.guardian.co.uk/world/2008...d.creditcrunch

Many people said that it was a desperation move. Last week they nationalized their banks. NOW, Iceland's krona(currency) lost 73% of its value in a single day.

http://finance.google.com/finance?q=CURRENCY:ISK

Is Iceland a sign of what's to come for the rest of the world? Just last year iceland was rated one of the top 10 places to live in. Now their economy is in shambles.

What does inflation like that mean? " Their debt and monthly payments increased 270% over night while their salary stays the same."

Imagine you were at retirement age in iceland and had saved up for 40 years. Overnight your savings just lost tremendous values due to circumstances beyond your control. That's inflation. That's where the dollar is headed.

__________________
None are more hopelessly enslaved than those who falsely believe they are free.
Never forget Spic Power

Didn't the poms use some anti terror law to freeze an icelandic banks assets?

How does this level of inflation compare to other places in the world? Or other historical extremes, like Germany after WWI? Or Zimbabwe now?

*cuddles with his 50 million dollar Zimbabwean note he bought on ebay*

Phoooo-ey! 73% in a single day, goddamn. This is pretty cool. My business motto shall be: "Climb to the heavens on the corpses of the weak."

this is scary....people all around the world are losing money and getting pissed....our society has kinda changed in that crazy people now take their familys with them when they kill themselves....who is to say other countries don't go crazy and start shit?