The Advent of the Worlds First Parliament in Iceland

When the Vikings settled Iceland, no monarch was installed, which forced these settlers to find a new system of government; democracy. The early decades of settlement were effectively without structured law, but after 2 generations, 36 leading farmer Vikings banded together to develop the concept of an assembly to govern Iceland referred to as the “Alþingi” (written “Althingi” in English) (pronounced “all-thing-ee”) in 930 A.D.. The council met once every year for 2 weeks to create laws, preside over and judge disputes, and appoint a legal speaker, whose responsibility it was to remember and recite the law. The Althingi convened at Þingvellir (written “Thingvellir” in English) (pronounced “thing-vet-lear”) which is a unique location as it is a gorge where 2 of the Earth’s tectonic plates meet and 45 kilometers east of what later became the capital city of Reykjavík, Iceland (pronounced “rake-yah-veek”). The term “Althingi” means “thing field” or “assembly field” in the Icelandic language. This form of government met for the next 800 years at this exact spot, even after merging with Norway in 1262, with the location eventually moved to Reykjavík in 1800. The Althingi is the oldest parliament in the world, which is astonishing as it is still functioning and currently running the country of Iceland as a whole

The Art Collection of King George IV

King George IV’s excessive consumption was completely out of synchronization with his income with George IV needing to rely upon the British parliament multiple times to bail him out of financial ruin. George IV’s over spending was so bad that parliament actually forced him to marry in exchange for hundreds of thousands of pounds worth of debts to be forgiven. Although George IV is thought of as extravagant and profligatory, the truth is that the combined value of his collection equates to an average modern day value of £10,000,000 (£10 million) for every £1000.00 George IV spent during the 19th century. It should be noted that this large gain is due primarily to the intrinsic and irreplaceable value of the items as £1000.00 in 1800 would only be worth £83,000 as of 2019 when accounting for inflation