Former CEI Warren Brookes Journalism Fellow Neil Hrab has an interesting take on Russia’s offer to help out Iceland with its own personal portion of the current global financial meltdown.
The West’s list of grievances against Russia is long…
But one can hear no peep of opposition today from any western country following Moscow’s offer to lend 4 billion euros to Iceland. Full Comment reported on that tiny nation’s current financial difficulties yesterday. Of all the countries affected by the crisis, Iceland may be…
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by Hans Bader
October 07, 2008 @ 11:04 am
Is any of our readers an expert on banking laws and customs? The reason I ask is that recently, EverBank World Markets, after agreeing to renew a CD denominated in Icelandic Krona, suddenly closed it, purportedly because the “currency stopped trading.”
The bank then “converted” my CD from Icelandic Krona into dollars at an eye-popping rate of 171.98 per dollar on October 6, cutting the value of my CD from $5691.11 to $3744.68 — a loss of two thousand dollars —…
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