It's been circulating on the internet that Iceland can't use it's currency to buy anything. They have about 5 weeks of food left. Without foreign infusions of "acceptable" capital, they're in deep doo-doo...
Here's the link:
http://www.bloomberg.com/apps/news?pid=20601109&sid=aVFtDRGwcc50&refer=home
This shows the extreme case of when a country's banks, and currency suddenly become untrustworthy. The currency still works internally, but not externally. Iceland being small, it is one of the first to succumb to the full effects of the credit crisis...They are self sufficient in energy (electricity is produced Geothermally, very advanced), seafood, some dairy and beef, but almost no grains or vegetables. So they won't freeze, but they could starve.
Many lessons here for the rest of the world, and a warning to us all...
Get prepared...
As a clue we may face a similar fate,
Reuters had this to say:
"Banks borrow record $437.5 billion per day from Fed"
http://www.reuters.com/article/newsOne/idUSTRE49F97920081016
Almost a half trillion borrowed by the banks in one day - does that seem sustainable to you?
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