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Economics, Governance, Media, Relations

Norway has no debt. Why?

By Edward Campbell – Posted on July 7, 2012

(Google translation)
Norway has no public debt, for different reasons that we will now explain. The main reason, however, remains primarily one and one only: it has not adhered to the slave system of money and debt, its central bank is one of the last in Europe in the hands of a state. To summarize the case: a single currency, the Krona, and a single bank. Owned by the state.
The Norwegian Central Bank not only has remained one of the few European banks controlled by the state and not by private bankers, but handles even the Norwegian Pension Fund in surplus, another miracle, especially in times of crisis! And that’s why the Norges Bank does not want to be part of the Euro system. Obviously, the Norwegians are not idiots. Lucky them … But we see other strengths that make Norway a symbol to emulate:
Has not joined the euro. The currency is the Norwegian krone. As we said.
Non-privatized energy companies – oil (Statoil), hydropower (Statkraft), aluminum (Norsk Hydro), the country’s largest bank (DnB NOR), and telecommunications (Telenor). 
About 30% of all companies listed on the Oslo Stock Exchange is state owned.
Government bonds make the 6.75% net to investors.
Despite being the largest producer of Europe’s oil, it’s not part of OPEC. (For the record, Italy is the second largest producer and Basilicata was located the largest onshore oilfield in Europe). Returning to Norway, the country’s oil is controlled by the government through major operators such as 62% by Statoil in 2007, the state-controlled 100% Petoro, and SDFI, plus control of exploration permits and production. Then if you’re digging through one more time ‘you know what you might discover? Norway has established a Pension Fund Sovereign in 1995 to redistribute oil revenues, taxes, dividends, sales and royalties. Ahhh! And we could not do the same as Italy is the second largest producer and Basilicata was located the largest onshore oilfield in Europe? Obviously, it lacks the raw material that takes the decision …
This is why these Norwegians are really strong. And do not even think of privatizing the water or the waste collection, as our politicians would like to do … You see, the excuse of debt related to the costs of the state is an EXCUSE! The problem is the currency of debt .. And that is so especially now that you mention another fact: Norway has a state budget surplus of 10%, while we, who have privatized almost everything, we have a public debt equal to 119% of our GDP …
Finished? Nope! Go on! It should be noted that the Norges Bank is the first central bank that ever sued for fraud on derivatives in 2009 the City Group, the largest business group in the world. Imagine the outcome of the judgments that the Norwegian State Administrative Tribunal should issue …
It should be remembered that the Norwegian Government has signed a few months ago an important treaty with the boundary water agreements in the North Sea with the Russian Federation, at the end of a joint oil-gas exploitation, effectively excluding the “7 sisters” global corporations, historically “involved” in such experiences and representing the best interests of Canada and the U.S., of course contrary to that agreement. Norway after an initial support has withdrawn its troops from Libya, adding further difficulty to NATO “politics”. The Government of Norway was the first to have highlighted a future recognition of Palestine as a state by raising many supporters, but also hard and sharp criticism.
Source: mercatoliberotestimonianze.blogspot.com / Filmed by: free-italy.info


2 thoughts on “Norway has no debt. Why?

  1. Don’t get fooled by all the positive numbers. A large part of the Norwegian government is corrupt as ****, and our hydropower and drinkinwater is on it’s way into private hands. The involvement in the Libyan war was against our constitution and we are almost a EU member through EØS and Schengen. We are the country that implement the biggest amount of EU-laws in the euro-sone and we are “NOT” a member of EU. A national vote said NO to EU-memebership twice, in 1972 and 1995 (I think).
    The awakening might change this though, but this far most of the Norwegian people are ignorant to the violation of democracy done by the goverment,

    Posted by Rikard | October 10, 2012, 5:55 am

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