Especially rare Icelandic Nationalist Party trumpet banner, two-sided and of three-piece construction, 16.5 x 17 in. with an additional 2.5 in. silver bullion fringe at the bottom. The flag displays a medium blue field and four quadrants with broad white stripes delineating them. At the center a red mobile swastika is set upon a square white backing. The top of the banner bears three cloth ties. Some soiling and a few trivial stains, else very good. The Nationalist Party was an Icelandic political party that espoused a limited form of fascism before and during the Second World War. The party was formed in March 1934 through a merger between the Icelandic Nationalist Movement (an anti-communist and anti-democratic group) and the Icelandic Nationalist Party (a politicized splinter group of the former formed in 1933). Adopting some of the militaristic trappings of fascism, the party organized a number of marching squads which paraded on May 1 carrying both the Icelandic flag and the swastika. Members dressed in grey shirts and wore armbands decorated with a red swastika. Following the invasion of Iceland in 1940 the group was largely suppressed by the occupying Allies.