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| BIS Has Woken Up? in forum [Market-Ticker]
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Ponzi_unit
Posts: 8094
Incept: 2007-09-05
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Had to look it up by I got the meaning from the context:
palliatives - plural of pal·li·a·tive
Noun: A remedy, medicine, etc., of such a kind.
I used to know a guy who knew a guy who brewed up some mighty fine remedy in his day.
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Taxpayers witnessed a crime and stayed around long enough to get charged with it.
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Hapablap21
Posts: 786
Incept: 2007-08-21
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Palliation is one of my favorite words. My first exposure to it was about 2 years ago when I learned that my first born child was going to be born without the main pumping chamber in his heart. They kept referring to the remedial surgeries as "palliative". I finally figured out that it means "we will never fix it, but we can cobble togetherr something that will work for a while." In engineering parlance, we call it a kludge. But "palliation" sounds so much better than kludge.
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Crzymorse
Posts: 1186
Incept: 2010-06-25
Maryland
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Time to sell the German bonds and buy the Icelandic ones. US has no budget just spending.
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Cutemloose
Posts: 699
Incept: 2008-02-12
Southern England
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Disclosure: I am of the Austrian school, of Rothbardian persuasion. I believe in minimal government. Spent 5 years and possibly $1million to see if business can be run on this basis (leaderless). Good news for me is that it can, and profitably, bad news is that it only works with responsible people.
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Ilikecoffee
Posts: 1563
Incept: 2008-04-17
cold , AK
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Has anyone analized how Iceland payed back early? Is it energy independence? Are any other countries capable of the same?
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You can trust the government, ask any American Indian.
"When people lose everything and they have nothing left to lose, they lose it" Gerald Celente
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Gates
Posts: 6260
Incept: 2008-01-29
Scottsdale
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No - they just "analized" their creditors:-)
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Clintb350
Posts: 1453
Incept: 2008-01-19
Southern AZ
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Analized - verb - How to avoid the getting Chrysler Building up one's posterior?
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Ponzi_unit
Posts: 8094
Incept: 2007-09-05
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When you say you're not paying they ask you how much you'd be willing to pay back.
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Taxpayers witnessed a crime and stayed around long enough to get charged with it.
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Barry_m_deeper
Posts: 40
Incept: 2010-10-17
Chicago
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Iceland has natural resources and hydo-power. Iceland does not need to buy energy on the world market the way that Southern Europe does. If the PIIGS leave the Euro, they will have to buy energy with greatly depreciated local currencies. Cars will stranded for want of fuel. Come right down to it, I think that that may be what is keeping them from extending their middle fingers.
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Donethat
Posts: 771
Incept: 2009-04-22
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Now that MF Global has shown the way how to disappear customer funds through the city of London, probably every other brokerage and clearing house will now do the same. Just a matter of time.
The Feds will have to choose, MF Global and Lehman style with creditors zeroed, or bring in the money printers and make the customers and depositors whole.
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Pacrim888
Posts: 83
Incept: 2007-12-08
Hong Kong, Shanghai
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I am a new customer of an Icelandic bank ! It takes maximum 2 weeks to set it up. U need to obtain and Iceland ID card (the banks deal with that). Really painless.
Iceland Bonds 3 years ; 5% yield ! Where else can I get that !
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Gen_maximus57
Posts: 4579
Incept: 2007-09-03
Tampa
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FYI
Iceland doesn't have any natural resources other than Geo Thermal. They use that to make electricity and heating of the homes.
They have a huge reliance on Oil though as they are just a little Island in the far North Atlantic.
I suspect they repaid the IMF loan with other borrowing. They are not living within their means either, its just that they are restarting from a cleaner slate.
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Rjazz117
Posts: 17782
Incept: 2007-09-11
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Iceland mines aluminum and has a huge fishing industry. Herring, if I remember correctly.
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 “To compel a man to subsidize with his taxes the propagation of ideas which he disbelieves and abhors is sinful and tyrannical.” Thomas Jefferson |
Truthseeker
Posts: 8474
Incept: 2007-10-07
NorCal
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Icelanders ROCK! The only country on the whole ****ing planet to jail bankers in the past four years. I don't want to hear any dissing of Iceland.
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"...But people better realize that the worst-case scenario could actually happen.9/11 happened. This can happen. An economic 9/11, the likes of which we've never seen." Gerald Celente
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Highrev
Posts: 5024
Incept: 2009-02-21
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Anyone who's ever dealt with a terminally ill patient knows what palliative means. The key words are "terminally ill". Did BIS commit a major Freudian slip? (I think the standard until now was to use the verb "mitigate". There's a world of difference between mitigate and palliative.) Perhaps it's their English. But there is no difference between the English and the Italian and French translations - even the nuances are the same - so don't ask me - perhaps they're moving towards openly claiming the current system is "terminal", unless we start seeing some balanced budgets, which we are in some places. http://en.wikipedia.org/wiki/Golden_Rule.... I would conclude that there was no Freudian slip, and that they're deliberately keeping the pressure on, because, as we all know, for the socialists, "stimulus" is synonymous with "blank check to go on another spending spree".
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Ampsucker
Posts: 1493
Incept: 2009-08-05
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my understanding is that iceland refused to accept the bailout to pay off Icesave depositors (mostly European banks) so they got to write off all the lost deposits (they never appeared on the taxpayer balance sheet). they did this through public referendum votes and actually did what their people wanted.
now, they face austerity on their own terms and those imposed by what's left of the free markets instead of relinquishing their sovereignty to the bankers.
it's still a tough row to hoe, but their people did the right thing refusing to backstop debts taken on by their banks (and not the tax payers). they then prosecuted some of the key players.
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Gen_maximus57
Posts: 4579
Incept: 2007-09-03
Tampa
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Iceland does have aluminium factories but doesn't mine anything abs yea they do catch a lot of fish such as cod and haddock.
They are still borrowing money though, I'm not dissing them
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Rjazz117
Posts: 17782
Incept: 2007-09-11
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Looks like you're right, Gen_max: Quote:While a small country, Iceland has a strong industrial sector that accounts for 21 percent of its GDP. Like its 2 other main economic sectors, industry in Iceland is centered on its natural resources. Fish processing, aluminum smelting, ferrosilicon production, and geothermal power are its main industries. Read more: Iceland - Location and size, Population, Agriculture, Fishing, Industry, Energy, Services http://www.nationsencyclopedia.com/econo....
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“To compel a man to subsidize with his taxes the propagation of ideas which he disbelieves and abhors is sinful and tyrannical.” Thomas Jefferson
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Spazznout
Posts: 1704
Incept: 2009-04-15
Columbus, Ohio
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"In a land without Rule of Law even a sane man who desecrates the state must be made to look crazy. "
Rubicon Jan. 9, 2011 blog post.
"Those who make peaceful revolution impossible, make violent revolution inevitable."
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Gen_maximus57
Posts: 4579
Incept: 2007-09-03
Tampa
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I lived in Iceland for 2 years, loved it, especially the women
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Rjazz117
Posts: 17782
Incept: 2007-09-11
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I hear the "natives" are quite "friendly". 
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“To compel a man to subsidize with his taxes the propagation of ideas which he disbelieves and abhors is sinful and tyrannical.” Thomas Jefferson
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