"Take a pill" is a bit harsh, guys. Skarpi's Iceland is all but officially bankrupt. He is angry. I too do not understand why Russia is the only country willing to help them out. I understand why Russia has jumped in - there will be Russian military on Icelandic soil. I don't understand why the US, Britain and assorted other NATO nations aren't at least offering financial advisors. Maybe they are behind the scenes. It would be in their own best interests to find a way to safeguard deposits if it is possible.
In a year or two there will be a few "best sellers" to explain the behind the scenes maneuvering. Meantime, as always, the middle class guy who has worked all his life finds himself at risk while the people who caused it all will have to do without a new Mercedes this year.
Greed and Abuse of Power - my synopsis of the bush years.

As to Skarpi - my friend, it is. Do what you can to safeguard yourself and your family. Many others will find themselves in your position before this is over. Our parents managed and we will too. And life will go on without a few of the perks we have enjoyed in the past. Your friends here may disagree with you politically, but they remain friends. And you know that you can count on many of us should you need help.

Now - has anyone else noticed has the price of oil is plummeting? What piece of the puzzle is this?