• Category Archives Debt-Free Country
  • Book-1 Chapter 13: Scared – Debt-Free Country

    Excerpt from Lou’s news story ‘Iceland Votes for WU’:

     

    The vote was 75% in favor of funding the project, with support evenly split
    among all political parties. As Ragna Árnason put it, “This is not a political
    question. Party loyalties have no place in this debate. We are here to offer up
    a key, for the financial shackles on the people of Iceland. Such questions of
    freedom are not debatable. They do, however, require courage to answer.
    Stand with me today and vote for this project. Do not listen to the fear
    mongers who claim that a yes vote will bring an economic catastrophe. We
    have heard those threats before, from the same quarters. They were wrong
    then, they are wrong today.”

    The project will establish a department within the Finance Ministry to
    oversee a government chartered, nonprofit, Icelandic company. They will be
    the clearinghouse for all electronic WU transactions in the country. They will
    provide network links to all banks in Iceland and distribute transactions on an
    exchange rate that the Finance Ministry will control. The nonprofit will be
    funded by transaction fees that the Finance Ministry will set. The initial
    startup costs will be recovered by the Finance Ministry by way of a recovery
    fee, added to all transactions, only for the first three years.

     

    Page 202