The Icelandic government seized the nation’s largest lender, Kaupthing Bank. “Effectively the krona can’t be traded at the moment because there are no more banks to clear the trade,” a foreign-exchange trader told Bloomberg. Things have gotten so bad there that Bjork was forced to take out a second mortgage on her collection of screaming children made of glass hiding under a field of sugar.
By October 9, 2008
By August 28, 2008
The central bank of Iceland has increased overnight borrowing rates to 15.5%, meaning you can get some damn high yields investing in their currency. Those numbers piqued my interest.