Deagle's take on what happened Oct 7

[Mike_Jetson]

So many positive open minded people here. :|

I was just commenting on another thread that i will also here in similar fashion.

The Iceland situation. The government have been slow to guarantee councils money (lowering the level of CONFIDENCE), just under 900m i believe. Lets just say the other councils start to worry and start moving or even taking money out (which many probably have done). Thats 25 billion pounds plus the domino effect on staff and then the chinese whisper affect which would spiral all over within days. That would be the end of UK finance

This Iceland scenario has a massive link to what Deagle said and it seems the Deagle haters are still misquoting his phone interview again.

The other impact is that our gov have used some bullsht part of the law to seize assets belonging to Icelandic corporations. Guess what happens next. Big tycoons step in to buy their competitors or parts of their company relating to debt so they can pay the banks to free up some cash for our councils. What a joke. I guess we will have to turn a blind eye to competition laws here when people like the owner of BHS & Topman wants to buy large parts of other major UK retail chains that have debt with icelandic banks that need to be paid back to unfreeze company assets.