The HM Treasury attempted to freeze all the assets of Icelandic Landsbanki bank in the UK. The order was approved by both Houses of Parliament on the 28th of October 2008. Landsbanki bank was placed into receivership in Iceland as the bank was one of the first of the global crisis to reach the brink of collapse. When this happened the powers that be in the UK tried to get Iceland to put the burden of debt from this bank onto the Icelandic public. The prime minister of Iceland at the time refused and Landsbanki bank was put on the same list as Al qaeda and the Taliban. Continue reading Landsbanki Freezing Order 2008
I used to believe in the concept of money. I put my trust in the crisp pink fifties, coke laced twenties, and bacteria infested ten pound notes until I heard about fiat currency.
Definition of fiat currency;
‘Inconvertible paper money made legal by government decree’