| Everett-Icelandic Economic Alliance|
Icelandic: Everett-Ísland efnahagslegum bandalag
|Administrative Centers.|| Everett City, Everett|
|Largest City.||New York City, Union of Everett|
|Official languages||English, Icelandic|
| Kaitlyn Rachel Spencer|
|Formation:||September 6, 2012|
The Everett-Icelandic Economic Alliance (Icelandic: Everett-Ísland efnahagslegum bandalag), is an economic and political alliance between the Union of Everett and the Iceland, who the latter, in the recent years, has grown closer to the same policies of the Union of Everett. The treaty which formed the alliance was signed by both parties in the four years after the global 2008 economic recession. Both the Union of Everett and Iceland were the only nations in the world, who had been affected by the recession, had taken action against the banking systems and their corrupt executives rather than aid and bail out the banks and ignore the crimes committed by the bank executives in 2008. The alliance between the two promote a joint effort in rebuilding a powerful economy, which is protected through joint policy-making to regulate corrupt bank and financial industries to prevent future recessions. Since the alliance's inception in September of 2012, Iceland and Everett's economies have skyrocketed as a series of anti-corruption crackdowns on financial corporations followed.
The alliance was built upon the idea of creating a secure economic powerhouse that would be permanently resistant to foreign central banking influences and global meltdowns. The Union of Everett, in 2005, had already launched a massive legislative assault on corrupt central banking systems in the United States, abolishing the Federal Reserve System early on since its independence. As a result of a growing set of intense banking and financial regulations on banks under Everetti law, the recession that would impact in 2008 was significantly less than most locations around the world. During and after the 2008 recession, Everett had increased regulations. At the same time, the Icelandic government had also launched a massive attack on corporate corruption, by passing its own laws before, during and after the 2008 recession. Both the Union of Everett and Iceland had greatly similar economic policies and found it would be important for future events and economic security, to align themselves economically. The was because Everett and Iceland were of course, the only two nations in the world, that after the 2008 recession, had launched a legal campaign against corrupt financial institutions and their executives and passed powerful banking regulations, which resulted in a massive series of arrests and prosecutions of bank officials, including members of the European Union (as part of Iceland's policies) and the U.S. Federal Reserve System (under Everetti law).
See Also: Great Recession
The Great Recession (also referred to as the Lesser Depression, the Long Recession, or the global recession of 2009) is a marked global economic decline that began in December 2007 and took a particularly sharp downward turn in September 2008. The active phase of the crisis, which manifested as a liquidity crisis, can be dated from August 7, 2007 when BNP Paribas terminated withdrawals from three hedge funds citing "a complete evaporation of liquidity". The bursting of the U.S. housing bubble, which peaked in 2006, caused the values of securities tied to U.S. real estate pricing to plummet, damaging financial institutions globally. The global recession affected the entire world economy, with higher detriment in some countries than others. It is a major global recession characterized by various systemic imbalances and was sparked by the outbreak of the Financial crisis of 2007–2008. As of December 2012, the economic side effects of the European sovereign debt crisis and limited prospects for global growth in 2013 and 2014 continue to provide obstacles to full recovery from the Great Recession.
During the Recession, Everetti President Spencer launched blame against the financial giants of the United States, including Bank of America, AIG, Citigroup, JP Morgan Chase, among others, the U.S. Federal Reserve System, the European Union and other international financial organizations as the cause of the events. The recession resulted in the collapse of several major banks, the destruction of hundreds of thousands of jobs, financial ruin for the poor and middle class of the United States, damage to Everetti citizens finances as well, and a massive crisis in banks seeking to recover funds by seizing homes and property from victimizes consumers. The Department of the Treasury claimed U.S. banks unregulated ability to lend faulty loans and out-of-control interest rates and increased unregulated Federal Reserve practices including intentional tampering of inflation resulted in the domino effect of financial collapses worldwide. In addition, Spencer alleged that the U.S. Federal Reserve printed and minted paper currency that was worthless, to provide to the United States federal government to cover expenses, with interest, resulting in trillions of dollars of increased "imaginary" debt now owed to the Federal Reserve banks.
Everett-Iceland Bankster Crackdown
Following the events that took place in 2007 to 2009, the Union of Everett federal government launched a massive legal campaign against corrupt bankers it alleged were directly responsible for causing the financial meltdown. The Everetti government rejected an official bailout request of major banks in North America at the United States' request and the Department of the Treasury and then IRS seized the failed banks including Lehman Brothers Holdings Inc., Merrill Lynch & Co., Inc., Federal National Mortgage Association (Fannie Mae), Federal Home Loan Mortgage Corporation (Freddie Mac), Wachovia, Citigroup Inc. and American International Group, Inc. Although headquartered in the United States, all properties and accounts of Washington Mutual, Inc. executives and corporate assets within Union of Everett territory were also seized. These banks were later absorbed into the formation of the Federal Bank of Everett, which would function as a semi-private bank in which the Union of Everett federal government retained 75% ownership in and retained the authority to veto or override anything the bank's private shareholders wished to do if the federal government disagreed with it.
The Federal Bank of Everett is now a major financial competitor with the fully private banks around the world, forcing global banking giants to maintain standards the Union of Everett desires if international banks and private banks wish to keep consumers from switching to competing offers from the Everetti government-owned bank. As a result, several major financial giants in North America and Europe are forced to keep up with the Everetti bank, unofficially allowing Everetti banking policies and regulations to be voluntarily enforced on foreign banks (essentially competitors must attract customers by keeping their policies and offers competitive with the Everetti government's giant).
In addition to forfeitures and seizures of banks and properties, three dozen CEOs and executives of the banks had been prosecuted for financial crimes that caused the 2008 recession. All of the executives charged had been found guilty and suffered property seizures, account freezes and or seizures and property forfeiture, which in turn was liquidized by the federal government and used to recover funds for victimized consumers, similar to the Icelandic consumer bailout. Of the banks seized by the federal government which later formed the Federal Bank of Everett, some 400,000 foreclosed homes were inherited by the federal government and transferred by executive order to the authority of the Department of Health & Human Services and sold to over 400,000 families for an average of less than $1000.00 per home, far less than what the homes were initially seized by the banks for mortgages owed on and even less than what the houses would have been worth if short-sold by the banks. Some houses had been reported sold by the Department of Health for as low as $150. As a result, the Everetti economy, as with Iceland's, had recovered within less than a year, commerce skyrocketed and the middle class had recovered entirely.
In Iceland, the Icelandic government chose the same route to fixing the economic downfall. Rather than bailout the banks and allow for increased freedom for financial giants to get away with corrupt practices, the Icelandic government prosecuted financial executives on charges of financial crimes and frauds and bailed-out the consumers who were victimized by the criminal banking practices. Like in Everett, Iceland had arrest, prosecuted and charged banksters with felony crimes, bailed out the people and launched lawsuits against the European Union for their role in causing the meltdown. As with Everett, Iceland's economy recovered entirely.
Under terms of the Everett-Iceland treaty, both countries agree to retaining and enforcing specific economic policies and provide each other cooperation and assistance in financial regulation and on a global scale, work together in promoting and inducing a global policy change in regards to financial corruption and economic abuses. Both nations have agreed to a policy of "Never too big to fail", the opposite of a phrase used in media and government in regards to world financial giant corporations as "Too big to fail". The government of Iceland and Everett have authorized their respective financial government departments to ability to seize and use for public use any properties and accounts of financial businesses and corporations found guilty of criminal conduct and illegal practices. As such, the Union of Everett Department of the Treasury and IRS seized the properties of several major banks during to 2008-2009 banking crisis, rather than bail out the failed banks as proposed by the United States and the European Union. President Kaitlyn Spencer of the Union of Everett, stated in a national speech during the 2012 State of the Union address, "No bank, no executive, no corrupt man nor woman, is above the law, and all criminal conduct, including those who lead the worlds greatest corporations, shall be held liable for their conduct". Everetti and Icelandic policies continued to be enforced into 2012 and 2013, targeting banks including the Bank of America, among others, for continued illegal and criminal practices. As a result of the joint policies, Iceland and Everett have shown the largest economic growth worldwide.
The Everetti-Icelandic Economic Alliance, although a treaty between two nations, the Union of Everett and Iceland, includes programs for Iceland and Everett to provide assistance and aid to foreign nations suffering from debt crisis and other financial damage from the 2008 recession and global meltdown. Iceland and Everett authorize financial aid to nations in extreme situations, providing monetary debt relief through to buying up of debt and voiding it or through their individual government laws, such as in the Union of Everett, seizing debts from banks headquartered in the nation without payment and voiding the debt, such as the case with Goldman Sachs and Greece. In 2013, the Union of Everett bought or seized the debts and voided them of Greece and Cyprus to prevent the International Monetary Fund and international financial organizations from violating the two nations' sovereignty and forever destroying both nations' independence and economies. Spending nearly $350 billion between the two, Greece and Cyprus were instated as "emergency assistance partners" in the EIEA. In exchange for the voiding of Greek and Cypriot debt, the two nations are mandating to aid and assist in bringing to justice corrupt banksters and financial CEO's and cracking down on economic corruption in their respective governments.