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noxmas

Listed below are comments made by noxmas between Monday, 8th December 2008 and Monday, 8th December 2008.

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An update on Kaupthing. 5:03pm on 08 Dec 2008 I am one such depositor, and the more I learn about what happened, the more I'm convinced that this is a Government scandal shrouded in secrecy and intended to alienate and discredit offshore jurisdictions as viable and legitimate banking centres.
If the UK Government knew about Icelandic banking problems back in March, why didn't they tell anyone ? They even left their own UK councils in the lurch, and they had millions invested.
Why did the UK Government refuse to assist Iceland ? It would have cost a fraction of what the they have spent in transferring ownership of Kaupthing (UK) to Dutch owned ING bank. Several billion of taxpayers money was needlessly spent in that exercise.
Kaupthing was a viable business prior to the UK Government using anti-terrorism laws to seize their assets early in October. The Government brought the bank down and necessitated the rescue of the UK arm.
Isn't it interesting how the FSA advised Kaupthing (IoM) to transfer £557 million to Kaupthing (UK), then denied that there was any guarantee that the money would be safe. Imminently after the transfer, the UK Government froze the assets of Kaupthing(UK). I'm convinced that this was pre-meditated.
The UK Government are preventing the funds that were transferred from Kaupthing(IoM) from being returned back to the bank. This money belongs to Kaupthing(IoM) and NOT Kaupthing(UK). It should be used to help re-launch Kaupthing(IoM), but the UK Government is preventing this, or any other positive outcome from occurring.
This whole affair is shrouded in secrecy - there are sealed papers that the UK Government will not permit the temporary liquidators or any other interested party to gain access to. The UK Government aren't telling us the truth behind all this - they have clearly got something to hide.
The UK Government is smearing the Isle of Man as being a "Tax Haven" where people put money to evade tax. This is complete spin. It is well known that the UK Government receives large tax revenues from offshore jurisdictions owing to the EUSD tax rules that exist. These taxes have been ramping up over the last few years. The UK Government are using this as a diversion tactic to cover up their own ineptitude and dirty politics.
The UK Government have brought about the collapse of a number of Icelandic owned banks,has put over 8,000 depositors into financial hardship, has brought the Icelandic economy crashing down, and is now attempting to undermime and damage the reputation of offshore jurisdictions. That's quite a lot of dirty work that they've achieved with so little effort at a time when governments should be pulling together internationally to put an end to this global financial crisis. I think the UK Government has done this for purely selfish and corrupt reasons.

This story merits further investigation or better still a public enquiry. The UK Governments has acted in it's own self interest - it's abominable behaviour should be fully scutinised - clearly this behaviour has NOT been in the interest of the UK populus or the world economy.
It has damaged relations with Iceland and offshore neighbours. The UK Government have made matters considerably worse by putting politics ahead of viable economic policy and meddling in matters that it clearly didn't understand and didn't think through properly.

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