but about the year 800 the vikings arrived in iceland. and they settled iceland. they settled there. not many of them. one of the things these people encounter, of course, is that the lands here are pretty fragile. i don't know if any of you have ever seen iceland. but it's not a country that can support a large population. particularly in days of agriculture. so they couldn't support a large viking population. about the year 900 one of these vikings, a man named erik the red, ran into some difficulties with local authorities and was apparently exiled out of iceland and told go west, get out of here. and he did. but again, he's not going -- he's going in a direction that they think there is something because look here, between iceland and greenland, which we'll see in a moment, not a vast distance. so you can imagine standing on the shore of iceland, seeing birds flying from the west, seeing debris in the water. so erik the red with a number of vessels exiled from iceland heads west. he heads west and finds greenland. he sees this, erik sees this, sort of as an op

miracle right they don't count debt in the case of carlos menem or in iceland or anywhere else they don't already out of states or in the u.k. the united states's recovery so-called from two thousand and eight has been accompanied by an increase of debt greater than the increase in so-called g.d.p. and this of course leads to pushing everyone sovereignty toward global speculators which of course are issuing the debt to take over the assets but again max there are no such things as miracles and yet here's a paper for the icelandic ministry of finance. in two thousand and six it's titled the icelandic miracle and it's a whole bunch of pages explaining why miracle sometimes do exist and on this page here max of their chart the icelandic model nine hundred ninety one two. and there's no ending but i could say we it ended in two thousand and seven or eight and the model cutting subsidies stabilizing the economy liberalize and markets privatized and cutting taxes wow that's a miracle never heard of that one before well they don't count it i mean i remember the story of jack in the main st

so what happened in iceland?nalized the banks and helped homeowners well, in the first year, it was tough. in 2009, their skimobile went down 6.7%, and then, all of the sudden, a rye bound. in 2010, it goes up 2.9%, in 2011, 2.4%, now, they are doing better than the european union and the combination. countries in the oecd. after they did the right things and actually helped their own citizens and put the bankers in jail, they rebounded tremendously and are now doing better than the great majority of countries in the world including the united states. because they actually helped their middle class, which is always the engine of growth in these countries. in fact, even the rating agencies had to say this at the end: ices land's unorthodox crisis policy response has succeeded. i love that, going after the bakers who caused the mess is unorthodoxed. helping your own citizens is unorthodoxed. but guess what: it works and it may be we should try it here in the u.s. wib going to bring in news editor for fire dog lake.

of iceland when it all collapsed over a few days you can imagine the consequences. in other places like here in britain i mean there was a bailout. basically the taxpayers had to shoulder the burden to keep the banks like they were too big to fail. years which are. it's not all over all over yet what we're seeing of course is this trend. which we saw most serious of. a crackdown was a boy with since. totally contrary to to be slow and gradual improvement in the legal environment that we've seen. over the years. of longbow and some more protection i was introduced here in u.k. of similar one us but still we received basically systematic crackdown on whistleblowers especially in the us a very serious one were all from one nine hundred seventy in the espionage act it's been used to. haunt those who were basically blowing the whistle blowing the whistle on. illegalities corruption which is hurting the general public and costing the taxpayer money ok so we think that the legal protections afforded to potential whistleblowers can't necessarily be relied on at the name in

in two thousand and six it's titled the icelandic miracle and it's a whole bunch of pages explaining why miracle sometimes do exist and on this page here max of their chart the icelandic model nine hundred ninety one two. and there's no ending but i could say we it ended in two thousand and seven or eight and the model cutting subsidies stabilizing the economy liberalize and markets privatized and cutting taxes wow that's a miracle never heard of that one before well they don't count it i mean i remember the story of jack in the main stock and it makes perfect sense if the people reporting on jack going to be in stock were shrinking down to infinitesimal sizes like the mainstream media there journalistic standards shrink and in line with the debt increase and then their new position of being little appear sions looking up the growth of the so-called g.d.p. down by debt they say oh it's a miracle it's bigger it's jack and the beanstalk we're going to growing and never commenting on the fact that they themselves have shrunk down to the size of limits of belly button lint circling a was

among other things one supporting the project the icelandic modern media initiative. and we befriended he. showed me the collateral murder video i was at the time working for the state television and of course offered my help and it became. basically a joint project to with between the eyes of the state television and we can. join then we can use pool time in the summer of two thousand and ten and how's it being feel you've been described as sort of the second public face of wiki leaks having stepped into this much more spotlighted role so to speak at such a difficult time with wiki leaks have you been finding it i've been finding extremely interesting i mean any journalist would would find it interesting to take part in the in the biggest leaks in history that. basically transformed. politics from certain areas and it's been a total game changer it's a paradigm change is saying is it generous but it's like working and what do you perceive as the other journalists response because we've seen a lot of the. wiki leaks and julian assange. well i mean there is a very mixe

which we always used as an example of how you should actually deal with these bankers iceland court sentences ex buyer savings executives to jail now i don't know if i'm saying the name of that bank or carex but it's buyer savings bank former chairman john thorsteinn johnson of the lenders x. c.e.o. ragnor good johnson were today found guilty of fraud and sentenced to four and a half years in prison by iceland supreme court the court found that the two former executives had used their positions out buyer to grant an eight hundred million kroner six point two million dollar loan which they then used to buy back their shares that were sinking in. before the collapse happened now in making this decision the supreme court took a cow out of the magnitude of the offenses was significant according to the ruling and good johnson's infraction was committed under the auspices of his mandate as the bank's c e o right he couldn't use the c.e.o. defense that he doesn't know what's going on as companies like de mint does jamie dimon does all the time he's like well i'm just a c.e.o. what do i kno

so, is this iceland's very own loch ness monther? we go in search. >> announcer: from the global resources of abc news, with terry moran, cynthia mcfadden and bill weir in new york city, this is "nightline," june 8th, 2012. >> good evening, i'm cynthia mcfadden. tonight, controversy is swirling around a country singing contestant on "america's got talent" who claimed that he was injured by a grenade while fighting in afghanistan. but the army says his war story never happened and while he may have talent, he now has an awful lot of explaining to do. tonight, our new abc news colleague amy robach brings us the latest. we're delighted to welcome her to "nightline" for the very first time. ♪ if tomorrow never comes >> reporter: it was a dramatic fall from grace. from instant reality star -- >> wow! how does it feel, man? >> amazing. >> reporter: to ashame and confused. >> it's the truth that i truly think is real. >> reporter: it was just earlier this week when sergeant timothy poe was all smiles. >> i am doing well, thank you. >> repor

iceland, that's where. why? i will tell you. [shouting] >> bill: caution, you are about to enter the nopsz, the factor begins right now. >> hi, i'm bill o'reilly. thanks for watching us tonight. did someone in the obama administration compromise national security? that is the subject of this evening's talking points memo. it looks like it. there have been a number of leaks from the press about sensitive issues of life and death. number one, pakistani doctor who helped the cia locate bin laden. details about him found their way into the newspapers. now dr. al freed did i is serving 30 years in a pakistani prison do you know what stuxnet is? it's a computer virus targeting nuclear facilities in iran. top secret sabotage program that somebody told the "new york times" about. democratic senator dianne feinstein said her heart dropped when she read the story. third, the kill list somebody told the "times" that president obama has an actual terrorist death list and the leaks were designed to make the president look like a tough guy. t

capital is created and capitalism flourishes but we don't have to win anywhere in the world except iceland yeah and so here they are preparing us now we've already printed six trillion dollars the four major central banks of the world bank of england the u.s. fed the japanese central bank and the european central bank they flooded the money into the markets basically all the banks have taken it covered all their losses and paid themselves bonuses and now we're going to have more of this money printing in order to appease and make happy and make whole the bankers in the euro zone but they want to do is they want to create new ways to restrict your ties all the bad debt except doing so on a europe wide basis that's the motivation for this so-called euro bond is to really secure ties all the bad loans into a new euro wide bad loan and to defer the day of reckoning one more year or two more years however what's happening on the ground of places like greece is that the austerity is so bad that people are now in open revolt so the actual revolution on the ground is meeting the denial of the uppe

good johnson were today found guilty of fraud and sentenced to four and a half years in prison by iceland supreme court the court found that the two former executives had used their positions out buyer to grant an eight hundred million kroner six point two million dollar loan which they then used to buy back their shares that were sinking in. before the collapse happened now in making this decision the supreme court took a cow out of the magnitude of the offenses was significant according to the ruling and good johnson's infraction was committed under the auspices of his mandate as the bank's c e o right he couldn't use the c.e.o. defense that he doesn't know what's going on as a company like damon jamie dimon does all the time he's like well i'm just a c.e.o. what do i know where's my bonus yes in fact the supreme court found that he had a higher responsibility what you know you make the big bucks you should have more responsibility it should have why i make a lot of money and so my responsibility is go play golf all day but you know how is icelandic economy doing since they went after t

but you know how is icelandic economy doing since they went after the bankers oh they're growing again it's one of the fastest growing economies in the world moody's is raising the ratings on debt and this is the message we brought to athens recently the party wants to be in control but they refuse to go after the bankers and just of the financial times the leader of the ritz a road as long call him and what he plans to do was to bring growth back to the greece the greek economy but again he doesn't mention that they have to go after the predatory bankers first so he is still born he is dead on arrival he is a nonevent well in iceland it is growing so fast that once again for the second time in three months the central bank has actually raised interest rates in order to try to keep it from overheating central bank money printing six trillion dollars and counting this is out in the rest of the world where bankers are allowed to roam free with all their crime syndicates many more years of money printing from the world's big four central banks now looks destined to add to the six trillion

the meeting in iceland was in october. proposing that if you really worry about it, i will commit the united states never to -- not to deploy any defenses if they are found feasible until both countries have eliminated all ballistic missiles. these are defense against ballistic missiles. the point being that others can have these, and so we need a defense. now, this was something that gorbachev never really engaged him on. and of course, we still have people who are pushing defenses that are not going to work. but i'll tell you one type that we need that can work technically, and that is a defense against missiles in their boost phase. we can do that by enhancing the missiles on aegis cruisers, for example, sea-based. and we can do it if we have land-based missiles close enough to the launch sites. russia happens to have prime real estate for that reason. so the way to solve this venture is to do a joint program with russia. we're negotiating on it, and i hope we succeed. >> i think we have time for one more question. >> h

earlier and another guest of the show internet freedom activists mari mccarthy the co-founder of the icelandic digital freedom society he too was stopped at the airport and questioned by u.s. officials about julian assange he says he was later followed and approached by three u.s. officials in washington late at night and asked to become an even warmer sounds like something from a movie as far as the number of people detained or arrested shortly before or after the show might be breaking some television record among other guests there was the president of the bahrain center for human rights and i believe our job was beaten up at bahrain international airport and held in prison for almost a month after recording an interview with julie. so what can we expect as if now the duke a court has authorized mr songes extradition to sweden his lawyers have less than two weeks to contest that decision in sweden he's facing quite thin allegations of sexual assault which reportedly had to do with consensual but unprotected sex but his supporters are saying it's not songes unprotected sex that they're looki

politically independent that's what they're fearful of a country standing up for itself they want iceland to be just contained they don't want greece to stand up for itself they don't want ireland to stand up for itself because then they would tell the bankers to stop it that's the real problem they threaten this financial terrorism which is false it's false these are false attacks it was a false attack in two thousand and eight it was a concocted cover cooked attack on nine eleven it's a false. well they say a picture is worth a thousand words but in the art world you know talking millions of dollars that's if it's the genuine article but with forgeries on the rise it's getting increasingly hard to bias an auction houses like to spot the fakes and as aunties or smith explains some don't find out until it's too late. very important works of art go under the hammer every day in london's west end but how can i love as be sure of what they're buying according to scotland yard a staggering fifty percent of all art sold is fact what we're looking at these days is a very considerable increase i

and of course, then she shows up in iceland, nancy doesn't come, that annoys her, and it annoys the president even more. and one of the reasons they didn't stay over an extra day and try to work out things was that she wasn't there. if she had been there, i'm sure reagan would have stayed an extra day and maybe we would have come to an agreement in iceland which we would have found we couldn't carry out. >> reagan was no more surprised than nancy reagan when she showed up. reagan, one of the few times, i think, and he did swear, but he wasn't quoted, was when this came from you and schultz to stay and see if we can work this out and reagan's reaction was, oh, shit. what he was oh shiting about was i promised nancy i'd be home for dinner. >> it was a running joke with the press corps that reagan couldn't spend a night without mommy, which is what he called her. but i've always believed that she was a much more forceful influence over american policy in all kinds of spheres than has ever been recognized that she'll ever tell us. she'll never tell us. but i've just had that feeling. >> well, you

them money in order to buy shares in the bank right here is a classic ponzi scheme we've seen in iceland they got penalized for it big in the u.k. big in the u.s. you loan money to big guys who end up buying stock in the bank to support the stock price and then the stock price is used as collateral to support more loans now the case of j.p. morgan as i mentioned they're using their stock prices support their naked short positions over and that's why when silver price goes up they don't topple the bank utterly but what the monks what i suggest is they take themselves public and they do a public offering in the new york stock exchange it could be months incorporated and it's backed up by the monks belief that the collateral that they hold in their books is worth something per their spiritual beliefs that's about as tangibles a thing on any other bank's balance sheet so go public get some idiots in new york to take a public whether it's facebook which has dropped incredibly or group on which is disaster is ingo which is a catastrophe to be a monk it's a spiritual social networking play if o