In the early cowboy days, people with some gold could set up a bank and lend other people money for an interest.
Lets skip ahead to 2019. Bank A (Norway), Bank B (India), Bank C (whatever you want it to be)
Bank A have a lot of money, to much money, they start investing abroad
Bank B is even steven.
Bank C needs to borrow money for some development on their side.
B gets a good deal with C, because B have an even better deal with A.
Then A feels they are getting a bit low on their threshold, so they borrow some money from C for a very good interest rate, as their banking system is in lack of interest.
…and the shit just hit the fan
You get in to an ever evolving milking of the system. And the winners are the bank owners.
Even with crypto, they will find a way to milk it, but for this one you should be on for the ride, and I promise you it will be a fun endeavor to participate in.
The banks are not evil, they are just intricate machines grinding monetary systems.
What we really need to do as a community of collaborators is creating adaptive systems to create win-win opportunities, and include the population as a whole for the benefit of the next industrial revolutions.
So when a country itself sets them as Bankrupt, what happens?
Well, they become independent for once.
Females get the same salary as men (by law in Iceland)
They have no strings attached, no external power to consider. (Apart from being connected to NATO)
They are free…
Until the vulcano Hekla erupts and engulf all their crypto mining sites hehe…
There is also a saying that, when Reykjavik falls into the sea, Ragnarok will start…
We all know that it is bollocks, it is when Ouroboros or Jörmungandr can’t bite its tail anymore that the world will fall.
PS: If you ever visit Iceland, Reykjavik, stay at the “Ugly Duckling” in the middle of Centrum. Awesome place. Fish for dinner and shower in hot water as long as you want hehe.
And the best date to visit Iceland is 17. june.
Open concert in the city, 5 days viking festival (buy the biggest horn, because you get to use it at the pubs, no matter the size, it is 500 ISK for a refill)