BREAKING: Spain's bank Insurance Fund is broke! No protection for people's $$$

They are asking for a government "rescue" of 19.000 million euros?, I read it before, what a bad joke...
like banks would be necessary.

If everything continues the same, the bank will have more money and the poor will be poorer.

So, are people aware that their $$$ is not safe in Spanish banks? Are people taking their money out like the Greeks? If they are, where are they putting it? Are they converting to other currencies or just moving their Euros to Northern country banks, like German or Swiss ones??? Curious how people are reacting to the banking downgrades.

That would be stupid and a waste of time, if the banks go down here, why would other banks stand..

I don´t think Europe is comparable to South America, the Argentinian case where the savings were confiscated?

We are all standing at the edge.

Nick®

The problems is no one knows what will happen. My guess is that Greece will leave the Euro - and that will be messy. France, Portugal, Ireland and Spain will demand more support from the ECB and Germany will continue to say now. Pressure will mount on Germany and eventually Germany will say the ultimate "Nein" and will withdraw from the Euro and leave all the rest of the broke countries with a highly devalued currency. Welcome to hyperinflation!!

Last Edited by Night Owl on 05/26/2012 09:52 AM

Ah, others are on the same idea track ...

"Apparently, Germans have understood how insidious—insidious for Germans, but a great deal for debt-sinner countries—these bonds would be. They'd spread the risk of each country to all countries, but the last man standing, possibly Germany, would end up having to bear them all. They'd cut the borrowing costs for Greece (oops, scratch that), Spain, Italy, and a slew of other Eurozone countries but raise the costs for Germany—now zero on shorter term debt, and negative when adjusted for inflation. It didn't help that Bundesbank President Jens Weidmann vilified them in his quiet manner every chance he got, most recently when he said, "The belief that Eurobonds could solve the current crisis is an illusion."

But the next big battle may actually revolve around keeping Germany in the Eurozone: 50% of the respondents saw more disadvantages than advantages, up from 43% in February; only 45% saw more advantages, down from 51% in February. The more costs and risks rise for Germany, the more this number is going to skew away from the euro. A scary trend for Eurozone bailout freaks. And suddenly Germans woke up to the headline, "Greeks Pay less Taxes"—taxes being a sore subject for Germans who pay out of their noses to get their welfare-state budget into balance. For a debacle without equal, read.... The Confiscation Conundrum in Europe."


[link to www.zerohedge.com]

Yep.

November 2012 elections determine if we pull back and save the USA....or head over the abyss.

Last Edited by Useless Cookie Eater on 05/26/2012 09:59 AM

Time to print greenbacks, inflation is not the worst outcome.
Right now we pretend that only choice is deficit spending vs.
crashing the economy. There is another choice accept some
inflation and print until the economy revs up. Then pull back.

I love the part in the article that says Greeks are delaying paying their taxes 'cause they don't want to pay in Euros and would rather wait and pay them in devalued Drachmas! LOL!!! Smart people!!! Governments ALWAYS underestimate the ability of people to respond in unique ways to their thievery!! LOL The best laid plans of mice and men.....

"
"The notoriously tax-sinning Greeks paid their government even less than before," the article began unnervingly. Turns out, Reuters had gotten two anonymous “senior” finance ministry officials to talk: Greeks were refusing to pay their taxes in euros in anticipation that they could soon pay them in drachmas, albeit with minor penalties. And lacking a government, they wanted to wait for the outcome of the next election on June 17, which hopefully would produce a government, any government. And so tax revenues in May were on track to drop 10%. Outside of Athens and Thessaloniki, tax revenues would fall between 15% and 30%. First capital flight then quiet bank runs, and now a refusal to pay taxes to a government they don’t have, in a currency they might not have much longer.... The Greeks are preparing for a reversion to the drachma, and they're trying, very understandably, and very smartly, to protect whatever they can—which, of course, simply speeds up the process of reverting to the drachma."

[link to www.zerohedge.com]

Lots of threads on this topic yesterday, and even MSM coverage. People in Argintina, bailing on their currency, too. The street decides if monies in banks is safe- people decide- then it's a run on the Euro banks, then they want to change Euro's to another currency. The govt. will try to block this activity, banks will limit withdraws etc.
If it happens here will Unk Sam ever let FDIC run dry? Or, will they just print lots of new money so we are pushed into hyperinflation?

The FDIC can't cover what it's supposed to. Hasn't been able to for quite some time.

Last I heard that had changed to 24.000 million euros. When the hand is out ...

its a bottomless pit.

The crooks made it to the top, that was the plan from centuries ago.

Que lastima!! Y ahora que? No dinero?

Googling Collapse of Major Banks ...
[link to www.google.com]
... angelic google returns the words of LAST PROPHET in first two of the first 10 results
---
"swiss" UBS to be used as milestone ...

[link to www.sciforums.com]
14 posts - 7 authors - Last post: 13 Jul 2008
Choosing the "swiss" UBS (1) to officially enter the phase of "collapse of major banks", which in the timeline is located at the end of illuminati ...

[link to bb.intrade.com]

19 billion .

LOL now its a bad joke. A million is pocket change.

Yep .

Who cares about Spain the Spanish will just still make Spanish salami and Spanish wine and no one will care.
Because that's just how the Spanish are, OLAY!

Spanish can make heaps of stuff themselves.
They are not reliant on imports.
Spanish don't give a fuck about anything, they just get up and do whatever.
You over hype such shit.

See Spanish don't even care about or want banks anyway

Same with the US. Everyone should slowly start withdrawing their money.

Greenspan = British plant you fool!
Where did he go to work after leaving the US?
At an honorary unpaid position at her Majesties treasury in London

Followed by a big posh party.

In == X days == pension funds and savings of HUMAN CATTLE will be officially declared defunct, as explained by LAST PROPHET long ago.
Thread: In == X days == pensions and savings of HUMAN CATTLE will be officially declared defunct, as explained by LAST PROPHET long ago.

LOL

I just went and cleaned out my bank account. I'm getting a funny feeling about next week.

Oh, and I'm the one who predicted DOW +77.7 on friday.

So I'm not one for talking out my you know what