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Iceland forgives mortgage debt of its population

This move is what got Julius Ceasar killed in ancient Rome. He reduced the mortgage debt of the population by 50%.

This would be a viable solution to the problem. Bank shareholders and holders of mortgage debt instruments would suffer, so your life insurance policy and retirement savings might become worthless, but your house would be clear title.

Proverbs 22:7 The rich ruleth over the poor, and the borrower is servant to the lender.


Added: Apr-13-2012 Occurred On: Apr-13-2012
By: scourgeofsmallcords
In:
World News, Politics
Tags: iceland, debt, mortgage, christianity,
Location: Iceland (load item map)
Views: 4330 | Comments: 37 | Votes: 0 | Favorites: 1 | Shared: 171 | Updates: 0 | Times used in channels: 2
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  • Better than the US system of printing money and handing it to the banks. The bankers management then patted themselves on the back while saying "suckers" then paid themselves a bonus for ripping of the US people twice and avoiding a prison sentence. Really the US government should have just let them all fail and those companies who use responsible business practices would now have taken their place. So now you have the situation were these dead beat and corrupt companies are still scre More..

    Posted Apr-13-2012 By 

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  • Why stop there? what about my car loan, and credit card loans.. I don't want to pay those back either..

    Posted Apr-13-2012 By 

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  • Wow.. UAE, Kuwait, and Saudi Arabia.....give their citizens stipends, free healthcare, free housing, free education, etc. Now, Iceland pays off their citizens mortgage debt. Wow. America does nothing for middle and poor, only for the rich.....Only sheep would vote republican

    Posted Apr-13-2012 By 

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  • I read this on another website and some comments were about how this isn't fair to people who played the game by the rules will be getting screwed while the deadbeats are getting off. Is it really better to wipe out the middle class of America to play fair? The banks purposely inflated housing prices by creating an artificial demand by giving out liar loans to everyone qualified or not. They stretched the rubber band as far as it would go, letting as many families on the killing room floor, then More..

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    • Comment of user 'rclark951' has been deleted by author (after account deletion)!
    • @rclark951

      what the fuck are you babbling about, nearly every post you seem to ramble about nonsense like this is a hiaku forum

      Posted Apr-13-2012 By 

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    • Comment of user 'rclark951' has been deleted by author (after account deletion)!
  • Caesar forgave mortgage debt because he was a chronic deadbeat who couldn't payback his loans, and the best way he figured to get the creditors off his back was to remove everybody elses debt at the same time, it's literally the main reason why the civil war started, he constantly was being pursued by creditors whom he owed money to and did many shady things to alleviate himself from debt, which led to the senate throwing him up on corruption charges, which led to his refusal to cede his militar More..

    Posted Apr-13-2012 By 

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    • @golem While the corrupt politicians you support do many shady things to pile it on, and that on the backs of the consumer.

      The senate was bought and paid for by the bankers.

      The people were supportive of Ceasar and they killed his assasins.

      Posted Apr-13-2012 By 

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    • @scourgeofsmallcords

      the people were supportive of Caesar because he gave them shiny things and helped them financially, he did it by instituting himself in various governerships and political appointments and illegally halting legal financial loans, much like Obama is doing today. The people did not kill his assassins, they either committed suicide after lost battles (Cato) or were killed by vassal states of Rome as a perceived favor (pompey in Egypt) I am curious to know which corrupt polit More..

      Posted Apr-13-2012 By 

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  • wow. this is huge!

    Posted Apr-13-2012 By 

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  • Iceland government serves the people, not the bankers. Americans will be shackled by debt for the rest of their lives.

    Posted Apr-13-2012 By 

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  • If this is true it's amazing.

    Posted Apr-13-2012 By 

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    • @allyssa

      Time for us to spread the word and get the govt to do the same for us. I wonder if any major news organizations will pick this up, and if so, I want to see how they spin this into a negative!

      Posted Apr-13-2012 By 

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  • The Romans had mortgages at the time of Julius Ceasar???

    Posted Apr-13-2012 By 

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  • This was actually easy to do if you look at the numbers. Iceland has about 120000 dwellings total in the whole country. 55 percent are actual homes. Let's say ALL these homes had outstanding mortgages which I really doubt, that will be 65000 homes MAX. Not really a large number compared to the Millions of overdue mortgages in the U.S.

    Posted Apr-13-2012 By 

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  • I like the idea, the problem is those who rent are left out, rental prices should also be reduced by 50% or more.

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  • well the banks with the help of the politicians are going to force a war in the streets if we dont put a stop to their crimes. I think Iceland should tell the banks to get fucked.

    Posted Apr-13-2012 By 

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  • Anyone remember when TARP was just talk? The money we paid to bail out the banks could have paid off a good percentage of mortgages. Instead we gave the money to the banks and they sit on it.

    Posted Apr-13-2012 By 

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  • Comment of user 'rclark951' has been deleted by author (after account deletion)!
  • Iceland got screwed by Lenders they needed to do something.

    http://www.npr.org/blogs/money/2011/05/23/136149022/the-island-that-ran-out-of-money

    Posted Apr-13-2012 By 

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  • Anyone have more info on Julius Caesar claim?

    Posted Apr-13-2012 By 

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  • Hope it does some good. Where's the money for next year's loans going to come from, though? Don't be surprised if capital moves elsewhere...

    Posted Apr-13-2012 By 

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  • Interesting......... Ireland needs to do this but won't even though one bank has €1.6bn shortfall in people paying back their mortgages. The citizens are being used as insurance underwriters for private banks that brought the country into economic austerity.

    Posted Apr-13-2012 By 

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    • Comment of user 'MrScabs' has been deleted by author (after account deletion)!
    • @MrScabs I'm going to shag off and retire to Tenerife.

      Posted Apr-13-2012 By 

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    • @LickyLicky Is that the Bank of Ireland?

      Posted Apr-13-2012 By 

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    • @ChumCannon Anglo Irish Bank and Irish Nationwide Bank are the main culprits. A group of foreign investors are taking a stake in Bank of Ireland, the first private sector investment since the bank crash. The state will retain a 15% stake in an attempt to profit when stocks eventually rise again in the bank which is destined to be one of two "pillar banks" operating on the high street once the debris from the property crash is swept away. Permanent TSB have a big exposure with their mor More..

      Posted Apr-14-2012 By 

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    • @ChumCannon anglo irish bank is insolvent and the IMF even said so. Yet they still prop it up. A fucking waste

      Posted Apr-14-2012 By 

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  • the us should do the same.

    Posted Apr-13-2012 By 

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