Iceland

Bitcoin heist: 600 powerful computers stolen in Iceland

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– Bitcoin heist: 600 powerful computers stolen in Iceland:

REYKJAVIK, Iceland (AP) — Some 600 computers used to “mine” bitcoin and other virtual currencies have been stolen from data centers in Iceland in what police say is the biggest series of thefts ever in the North Atlantic island nation.

Some 11 people were arrested, including a security guard, in what Icelandic media have dubbed the “Big Bitcoin Heist.” A judge at the Reykjanes District Court on Friday ordered two people to remain in custody.

The powerful computers, which have not yet been found, are worth almost $2 million. But if the stolen equipment is used for its original purpose — to create new bitcoins — the thieves could turn a massive profit in an untraceable currency without ever selling the items.

Read moreBitcoin heist: 600 powerful computers stolen in Iceland

Iceland might become the first European country to ban male circumcision. A bill in the Icelandic parliament says it violates the rights of young boys

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Öræfajökull caldera deepens 20 m (65 feet), geothermal heat in the area, Iceland

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– Öræfajökull caldera deepens 20 m (65 feet), geothermal heat in the area, Iceland:

On November 17, 2017, a pilot flying over Öræfajökull volcano in Iceland noticed a new ice-caldron within the volcano’s caldera. Now, volcanologists say the situation is far from normal.

Volcanologist Ármann Höskuldsson says that the situation at Öræfajökull volcano is far from normal.

The caldera has deepened by 20 meters (65 feet) and crevasses have become larger since it was first spotted, according to 3D image made by Geological Institute of the University of Iceland. In addition, a geothermal heat has been detected in the area.

Read moreÖræfajökull caldera deepens 20 m (65 feet), geothermal heat in the area, Iceland

Yellow alert for Iceland volcano as new caldera forms

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– Yellow alert for Iceland volcano as new caldera forms:

Satellite images show a new caldera forming in the ice with a diameter of one kilometer (6/10ths of a mile) in Öræfajökull glacier.

Öræfajökull glacier is located in Vatnajökull, Iceland’s largest glacier.

Although seismic activity has subsided in recent days, activity had increased activity in recent months.

Read moreYellow alert for Iceland volcano as new caldera forms

Katla volcano earthquake activity continues

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– Katla volcano earthquake activity continues:

“It is unclear at the moment if this is going to result in a eruption but at the moment it is my view that chances of an eruption happening soon (maybe in matter of hours) is high.”
– Volcanologist Jón Frímann

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Iceland’s volcanoes Hekla, Grímsvötn, Bárðarbunga and Katla are all preparing for eruption

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– Four of Iceland’s main volcanoes all preparing for eruption:

According to geophysicist Páll Einarsson, four of Iceland’s volcanoes are showing increased amounts of activity in preparation for another eruption.

Katla is the most active that it’s ever been in four decades. “Katla has been unrestful since this autumn.”

The other volcanoes showing increased activity are Hekla, Grímsvötn and Bárðarbunga

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H/t reader kevin a.

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Prepare For The Pirates: Direct Democracy Driven Political Party May Gain Power In Iceland

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– Prepare For The Pirates: Direct Democracy Driven Political Party May Gain Power In Iceland:

We are not here to gain power, we are here to distribute power.

– Ásta Guthrún Helgadóttir Pirate member of Iceland’s Parliament

While there are all sorts of populist political movements gaining traction across the West, the only one I find genuinely revolutionary and distinctly interesting and productive is Iceland’s Pirate Party.

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I’ve covered the upstart party in the past, most recently earlier this year in the post, “The Pirates Are Coming” – Iceland’s Pirate Party Polls at 43% Following the PM’s Resignation. Now, with the Icelandic election just days away (October 29th), the party is back in the news due to an expected strong performance.

The Washington Post explains:

Read morePrepare For The Pirates: Direct Democracy Driven Political Party May Gain Power In Iceland

Iceland Just Did The Exact Opposite of What the U.S. Does — It Found 9 Banksters Guilty in Historic Case

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Iceland

– Iceland Just Did The Exact Opposite of What the U.S. Does — It Found 9 Banksters Guilty in Historic Case:

On Thursday, Iceland’s Supreme Court found nine bankers guilty of market manipulation, affirming the conviction of the seven defendants found in a June 2015 decision by the Reykjavik District Court, and handing down a guilty verdict to two defendants previously acquitted in district court.

The Supreme Court decision found that “[b]y fully financing share purchases with no other surety than the shares themselves, the bankers were accused of giving a false and misleading impression of demand for Kaupthing shares by means of deception and pretense,” according to the Iceland Monitor.

Read moreIceland Just Did The Exact Opposite of What the U.S. Does — It Found 9 Banksters Guilty in Historic Case

Iceland Sounds Alarm After Largest Volcano Rocked By Big Earthquake Cluster

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– Iceland Sounds Alarm After Largest Volcano Rocked By Big Earthquake Cluster:

Six years after the eruption of Iceland’s Eyjafjallajokull volcano in 2010 caused the cancellation of more than 100,000 flights across Europe on concern that glass-like particles formed from lava might melt in aircraft engines and clog turbines, Iceland met office raised the alarm after its largest volcano was hit by the biggest tremors since 1977. Katla, named after an evil troll, is in southern Iceland about 140 kilometers (87 miles) from the capital, Reykjavik.

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Iceland’s New President Has Never Been A Politician

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– Iceland Proves You Don’t Need a Politician or Businessman as President

With admiration, many have been observing Iceland’s handling of the banking crisis that jolted the entire world in recent years. Now experiencing a unique economic recovery, the Icelandic public became aware in 2008 that the nation’s private banks had borrowed some $120 billion dollars, ten times the size of Iceland’s economy, creating an economic bubble which forced housing prices to double, and saddled the nation’s people with debt.

Read moreIceland’s New President Has Never Been A Politician

Iceland’s Hekla volcano “ready to blow”

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– Iceland’s Hekla volcano “ready to blow”:

A geophysics professor from the University of Iceland has warned people not to travel up Hekla volcano in South Iceland as it could erupt at any moment.

As reported by Icelandic news website visir.is (link in Icelandic), Hekla erupted regularly ever ten years or so from 1970 to 2000 – but has now been silent for sixteen years.

Read moreIceland’s Hekla volcano “ready to blow”

Iceland Has Offered Foreign Bondholders A “Choice”: Sell Now, Or Have Cash Impounded Indefinitely

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– Iceland Has Offered Foreign Bondholders A “Choice”: Sell Now, Or Have Cash Impounded Indefinitely:

Iceland has had a difficult past few months politically, as its Prime Minister Sigmundur David Gunlaugsson became the first casualty of the Panama Papers.

Economically however, the story is more upbeat, as the country has rebounded since the financial crisis. The Icelandic Krona has stabilized against the Euro, the rate of change in inflation has slowed, and the country has recorded year-over-year growth in GDP each year since 2011.

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However, in a shocking turn of events, a law passed on May 22 by Iceland’s parliament is offering the foreign holders of about $2.3 billion worth of krona-denominated bonds a choice of either selling out in June at a below-market exchange rate, or have the money they receive upon maturity be impounded indefinitely in low interest bank accounts. In other words, Iceland is trying to kick out foreign investors.

Read moreIceland Has Offered Foreign Bondholders A “Choice”: Sell Now, Or Have Cash Impounded Indefinitely

Iceland’s Biggest Political Party Is Now The “Pirate Party”

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– Iceland’s Biggest Political Party Is Now The “Pirate Party”:

Iceland’s anti-establishment Pirate Party continues to lead nationwide polls as the most popular choice for the next elections. The party — whose policies include internet freedom, drug decriminalisation, and open democracy — has consistently led the polls for the last year and, as a result, has secured more funding than any of its rivals.

The 2008 financial crisis hit Iceland hard. The following year, the krona was devalued by around 50%, unemployment doubled, and capital controls were introduce. Miraculously, the country rose from the ashes to become one of Europe’s top performers in terms of growth. More recently, the political establishment has been in turmoil since three government ministers were implicated in the global Panama Papers scandal.

Read moreIceland’s Biggest Political Party Is Now The “Pirate Party”

Revenge of the Vikings: Iceland Will Create Its Own Money

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– Revenge of the Vikings — Iceland Will Create Its Own Money:

It’s happened before in history, and with great success, but it has also prompted a violent backlash from the elites…

Back in 1914, the Bradbury Pound was introduced by the UK government as an ’emergency measure’ to bolster a failing economy.

It was a huge success. The banking elite were unhappy, however and panicked – before managing to wrestle control of the money supply afterwards.

Read moreRevenge of the Vikings: Iceland Will Create Its Own Money

Iceland’s Pirate Party Polls At Stunning 43% Following PM’s Resignation

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– “The Pirates Are Coming” – Iceland’s Pirate Party Polls at 43% Following the PM’s Resignation:

The most fascinating and encouraging political movement occurring anywhere on earth at the moment is taking place in the tiny nation of Iceland. No, it has nothing to do with the recent resignation of the country’s Prime Minister after it was discovered via the Panama Papers that he and his wife owned Icelandic bank debt through an undisclosed offshore vehicle. What I’m referring to is the exponential popularity of the less than four-year-old “Pirate Party.”

So what is the Pirate Party? Motherboard explains:

Read moreIceland’s Pirate Party Polls At Stunning 43% Following PM’s Resignation

Iceland Prime Minister has not Resigned, Press Release to International Media

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– Iceland Prime Minister has not Resigned, Press Release to International Media:

The Prime Minister’s office in Iceland has just issued a press statement in English to the international press saying that the Prime Minister has not resigned, merely stepped aside for an unspecified amount of time and will continue to serve as the Chairman of the Progressive Party.

The press release is as follows: 

Prime Minister of Iceland very proud of Government’s success – suggests Progressive Party Vice-Chairman take over the office of Prime Minister for an unspecified amount of time.

Read moreIceland Prime Minister has not Resigned, Press Release to International Media

Iceland: Famous Jailed To Be Freed – Controversial Government Secretly Changes Legislation To Shorten Sentence

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– Jailed Bankers To Be Freed:

Three jailed Kaupthing bankers will be freed today due to a change in legislation.

Former Kaupthing Chairperson of the Board Sigurður Einarsson, former Kaupthing Luxembourg CEO Magnús Guðmundsson and former 10% owner of Kaupthing Ólafur Ólafsson will all be released from Kvíabryggja prison today, Stundin reports, on account of a change to the law. They will instead move to a halfway house, Vernd, where they will have to return every night but will otherwise be free. A member of parliament has criticised the legislation is being “handcrafted” for these bankers.

Read moreIceland: Famous Jailed To Be Freed – Controversial Government Secretly Changes Legislation To Shorten Sentence

The First “Panama Papers” Casualty: Iceland Prime Minister Resigns

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– The First “Panama Papers” Casualty: Iceland Prime Minister Resigns:

We suspect more than a few ‘prosecuted’ bankers will be smiling wryly today as, following the exposure of his offshore financial dealings – revealed in the Panama Papers – Iceland’s embattled Prime Minister Sigmundur David Gunlaugsson has resigned. Despite earlier refusal to step down, the decision, which was reported by national broadcaster RUV, followed street protests that attracted thousands of Icelanders angered by the alleged tax evasion.

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