Iceland is famous for volcanic eruptions, exotic wonders and its natural beauty. Iceland is also known for its crony capitalist system. The leak this week of the Prime Minister Sigmundur David Gunnlaugsson’s secret share sale has sparked a new wave of anger against the country’s banking system.
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A year ago, I travelled to Iceland for the first time and grew immediately fascinated by the country's extraordinary story. I was surprised to find that Iceland is very much a small world in microcosm. And that ownership conflicts are just as common in smaller countries as large ones.
The nation's thriving financial sector was built on a bubble that went bust when the global economy crashed in 2008. It is an example what is often called "crony capitalism," where banks reward high-paid people with power and wealth with unsustainable debt levels.
Iceland's banks loaned billions to shady businessmen who took advantage the small but powerful Icelandic government. All three of Iceland's biggest banks, Glitnir Kaupthing and Landsbankinn, collapsed due to a wave of fraud and illegal transaction.
Many citizens blame the financial leaders of the country for what happened, even as they try to recover. Since then, more than twenty bankers have been imprisoned for fraud and mishandling of money. The country's justice, which was hailed by many as the best in the world, has come under fire for its slow prosecution.
Some bankers, who were implicated in the crime, have sued their former employer accusing them that they ignored their legal rights. Some bankers have taken their case to the European Court of Human Rights claiming they were unfairly treated and tried.
All of the bankers were convicted in 2008. They are currently serving long sentences. Some have even been expelled.
They manipulated the market and used their wealth to make other people rich, then tried to get back all that money from investors, including many foreigners.
They were the banks who created a bubble in Iceland that caused a banking crisis around the world when it burst. Icelandic bankers who had been praised before the collapse as symbols for the country's economic prowess are now resentful that they must answer to their actions after the crisis.
Almost all of the bankers are innocent, but their actions were reckless. In some cases they bet on things they couldn't lose and took on debts, which they knew were unrepayable.
Some of them were also scheming to create a new currency, which would be even more unsustainable. It is a huge problem for the nation, because its currency has been very weak.
In 2011, a new, much more stable currency was introduced. This reduced pressure on banks. But it is unclear how long that will last.
FAQ
What are the darkest secrets of Hollywood?
Hollywood is filled secret societies. Some are cult-like groups where members follow strict rules and rituals, while others are simply clubs for those who share common interests.
There are also other, more evil organizations that control large parts of the industry. These include companies like the MPAA ("Motion Picture Association of America"), which determines film ratings. The RIAA ("Recording Industry Association of America") sets music licensing fees.
Numerous unions, guilds, and associations represent actors, writers, producers, editors, and other creative professionals. Many of the major TV networks and movie studios are owned or controlled by large corporations.
The point is that no matter how secretive any group may seem, someone somewhere knows exactly what they do. We shouldn't fear these people.
Instead, embrace them. Because they provide us with information that helps us make better decisions.
These people tell us what movies and songs will succeed, and which books will sell best.
These help us to decide what we'll watch, read, listen, and buy.
We can trust their advice and we can ignore it if it contradicts our values.
And because we've chosen to ignore them, they become even more powerful. They become the ultimate arbiters for taste.
If you don't like their words, you can choose to ignore them.
Let's take a closer look at some of the less-known, yet still very real Hollywood secret clubs.
You'll see why they are so important.
How does the brain control the functions in your body?
To ensure that other organs and muscle functions work together, the brain sends messages. Your body's functions are controlled by your brain. It tells your stomach how to digest food and your lungs how to inhale oxygen; it also tells your arms, legs and feet to move.
Your brain is composed of billions and billions nerve cells, connected in groups called neurons. Neurons communicate with each other by sending electrical signals called action potentials on axons. Every neuron has a cell wall around its nucleus. The cell membrane houses channels that allow ions, such as potassium and sodium, to enter and exit the cells. The electric charge that causes the neuron's fire is created by ion movement.
Neurotransmitters, chemical substances that are released when a neuron fires. Neurotransmitters attach to the receptors of the second neuron and open ions channels for ions to pass in and out. As a result, the second neuron fires too.
When another neuron sends an impulse to the presynaptic neural cell, neurotransmitter is released. The impulse travels along the synaptic pathway that connects both neurons. The transmitter binds to receptors on the postsynaptic neuron, triggering the firing of the postsynaptic neuron.
Neurotransmitters are important for communication within the nervous system. They also coordinate activity between different brain parts.
What is the most interesting fact about the human body?
We have two eyes, two ears, two nostrils, four limbs, a mouth, a nose, and a penis. We have over 50 parts of our bodies. However, one thing is missing. A heart.
A heart is a pump that circulates blood throughout the body. The blood flows through the veins and arteries to carry oxygen and nutrients to the cells.
Each minute, the heart pumps approximately 5 liters. This amount is equivalent to an adult drinking 2-3 cups of coffee daily.
The heart is constantly pumping blood, 24 hours a week, 365 day a year. While sleeping, your heart beats close to 100 times per minute.
You can tell whether someone is healthy or unhealthy because of the color of their skin. Capillaries are tiny blood vessels visible on the skin's surface. These small vessels carry blood away from the large blood vessels in the skin back to the heart. The skin becomes blue-colored or purple when blood flow is restricted.
People with sickle cell disease lack red blood cells. Their blood becomes sticky and hardens, causing them to become very ill.
If you cut yourself, a bandage is applied to stop the bleeding. For wounds to heal properly, blood must flow. To do this, doctors insert a needle through the skin into the vein next to the injury. This allows blood drainage from the injury area.
A doctor can also insert tubes (catheters), into an artery in the vicinity of where blood clots form. This helps to keep the patient alive until the blood clot disintegrates naturally.
What is the most mysterious area on earth?
Antarctica is the most mysterious continent on Earth.
Why is this place so amazing? It is unlike any other place on Earth.
It is very remote and isolated. This site has more to it than meets your eye.
These wild animals are also found in this natural wonder.
Let's now see how this amazing destination came to be so well-known for its mystery.
Antarctica, The South Pole
Antarctica is not known by anyone. Some believe it is "land of the ice". Some believe it means "land of ice". Others believe it is Greek mythology.
Antarktis in ancient Greece was the name given the island where Zeus' twin brother brothers were born. According to legend, one of the twins was born in winter. Thus, the term antarctic.
Others believe that the name is a combination of the Greek words anti and tropos which mean against and turn. This would be land turned away form the sun.
Whatever the reason Antarctica has always been a fascination for people.
It is the highest, coldest, windiest, dryest, and most populated continent. It is too cold for trees, plants and animals.
This frozen wasteland is still alive.
Here are about 90% of all the living creatures on Earth. About 50% of the world's plant and animal species can be found here.
And what makes Antarctica such a unique environment? Here water freezes to ice and not evaporates into the atmosphere.
This results in large masses of ice floating above the ground.
These glaciers cover more than 80% of the continent. They continue to grow in size each year.
The Antarctic ice sheet has grown 60ft since 1960.
If the melting continues, the sea level will rise by up to 200 feet. This could lead worldwide flooding.
This is not necessarily bad news. Some scientists suggest that global warming could actually be good for us. According to scientists, global warming could be good for us because the melting of the ice sheets will accelerate, which can lead to floods that release toxic chemicals into our soil and bodies.
Others warn that this theory sounds like something out of a science-fiction movie.
Statistics
- It might not sound like something that's truly plausible — and it is quite rare — but according to a 2015 study published in the Asian Cardiovascular & Thoracic Annals, it's possible to hurt yourself and even break a rib just by sneezing. (romper.com)
- Your mouth makes a lot of saliva every day It might seem like way too much, but your salivary glands typically produce anywhere from 0.5 and 1.5 liters a day, according to a 2009 study published in the Journal of Medicine and Life. (romper.com)
- You spend about 10% of your time awake blinking (romper.com)
- According to a 2018 study published in Free Radical Biology & Medicine, this is because blood pressure is regulated by our innate circadian rhythm and internal clock. (romper.com)
- In fact, according to the American Academy of Ophthalmology, you make 15 to 30 gallons of tears each year, which is insane when you think about it. (romper.com)
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How To
Secrets of the United States that were declassified
The United States can offer a land of opportunity in which anyone can find success. However, there are also many secrets that have been kept quiet for years that could impact how we live.
Some of these secrets include:
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Over 5,000,000 secret documents, which are held by the US government, have been kept from the public. These documents contain information regarding UFO sightings, alien lives forms, human cloning, assassination attempts, and even assassination of world leaders.
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In 1947, President Harry Truman directed the creation the Central Intelligence Agency. This was an organization that was created to aid President Harry Truman in making decisions during wartime, and to keep America safe from any foreign threats.
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The CIA used mind control experiments to manipulate American citizens without their consent. Project MKUltra is one of the most well-known examples.
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During World War II the U.S. military carried out tests on thousands civilians. Some of these tests included exposing soldiers to mustard gas or biological weapons.
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In 1992, the Pentagon admitted to conducting germ warfare testing on prisoners at Guantanamo Bay.
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The CIA secretly constructed prisons around the world where terror suspects are held and sent to countries like Thailand, Poland and Romania.
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The death squads, which are used to execute political dissidents all over Latin America, have also been funded by CIA.
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The US Air Force continues to conduct chemical warfare tests in violation of multiple international treaties.
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The Department of Defense often violates its own rules concerning human experimentation using animals.
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While arresting protestors on coastal waterways, the Coast Guard has consistently violated federal legislation.
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The Transportation Security Administration performs illegal searches at airports in the country.
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The CIA runs targeted killings programs outside recognized battlefields through armed drones or "assassination teams."
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The Office of Public Affairs is responsible for the operation of the CIA. Its employees write alternative media articles and distribute them to intelligence agencies, defense contractors, and other government contractors. OPA writers claim UFOs/Aliens, 9/11, climate changes, and other sensitive topics have been kept secret by national security personnel who fear for the public's attention.
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The US Air Force maintains files about nearly 7 million Americans it considers subversive.
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Undercover agents provocateurs have been used by the US Army to organize violent protests or race riots.
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For the purpose of selling advertisements, the NSA gathers telephone logs and credit card data from corporations.
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The FBI has been stockpiling ammunition and guns since the 1980s, which most people won't know. The FBI now stores over 10 million ammo and over 1.5 billion gun rounds!
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Homeland Security department built concentration camps that allow inmates to be detained, tortured and even killed. Members of Congress cannot visit these detention centres.
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The NSA is involved in domestic spying against journalists and activists. Their only crime is to criticize government officials or speak out against abuses.
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The NSA conducts extensive computer surveillance on innocent citizens, many of which are unrelated to terrorism.
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The NSA has mass surveillance on cell phones and email accounts belonging to foreign leaders, celebrities and members of congress.
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The NSA monitors private persons and intercepts financial transactions.
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The NSA monitors all energy production facilities, and spying on stock markets and exchanges worldwide.
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The NSA hacks into computers networks and installs keystroke loggers without obtaining search warrants.
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To disable enemy communications systems, the NSA uses cyber warfare techniques.
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The NSA monitors social networking websites such as Facebook, Twitter, YouTube, and Flickr.
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To spread propaganda and impersonate hackers online, the NSA has created fake online identities.
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The NSA is able to infiltrate chat rooms and messageboards in order to gain personal data.
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To manipulate online discussion groups and forums, the NSA creates fictitious persons.
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The NSA hires homeless people to install spyware on smart devices.