Bank of Spain bails out savings bank

Bank of Spain bails out savings bank

www.msnbc.msn.com

MADRID - The bank of Spain says it has stepped in to bail out a regional savings bank after merger talks with another similar entity broke down.

Bank of Spain director Miguel Angel Fernandez Ordonez said early Saturday that the step had been taken to guarantee Cajasur, an Andalucian savings bank based in the southern city of Cordoba and run largely by the Catholic church, could continue operating as normal.

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I thought Spain was.. well.. BROKE! They are a misguided step away from needing a bailout themselves and they are going to start bailing out banks? I guess they are just taking a play out of the American textbook on how to send your country down the toilet a little slower instead of really working on the issues?

Who is going to bail out Spain after this bailout fails?

www.msnbc.msn.com
(visit the link for the full news article)

reply to post by broahes


....A bank run by the Catholic Church? What? lol .. please tell me I am not reading that right..

reply to post by broahes


Yes it was, and so Portugal, but you have been missing the news when the rating agencies warned them that they were next on the list of downgrading after Greece they just said not to the IMF bail out after looking the take over of Greece and the sovereignty lost.

So nobody knows what they had in mind now we know, they are doing what US is doing bailing out themselves.

reply to post by Rockpuck




Yeah, you are reading that correctly. Essentially tax payers are bailing out the Catholic Church it seems. I know it technically isn't.. but you can't help but wonder..

That was the initial thing that caught my eye in the headline too.

Originally posted by marg6043
reply to post by broahes

 

Yes it was, and so Portugal, but you have been missing the news when the rating agencies warned them that they were next on the list of downgrading after Greece they just said not to the IMF bail out after looking the take over of Greece and the sovereignty lost.

So nobody knows what they had in mind now we know, they are doing what US is doing bailing out themselves.

The IMF and Global leaders are putting in place preventative measures so that thje rating agencies can't change ratings.

Now if that's not a sure sign that they know what is coming and just want to delay, I don't know what is.

The cover-up continues.

Of course they know whats coming....they are the ones who created this mess to bring about a controlled demolition of our current economic system so that they can propose a new global system, which will save us from this in the future.

The rule in every case is: save the banks and screw the people. This is because the banks are the control mechanisms. They control everything through the issuance of credit (debt).

All of these bailouts of "countries," such as Greece, (soon to be Spain and Portugal), are actually bailouts of the big banks. The money first goes to the government, and then is immediately turned over to the banks that the government owes money to. Its a shell game, at the tax payers expense, designed to implement control over the general population and the government itself.

As Jefferson once said:

"The central bank is an institution of the most deadly hostility existing against the Principles and form of our Constitution. I am an Enemy to all banks discounting bills or notes for anything but Coin. If the American People allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the People of all their Property until their Children will wake up homeless on the continent their Fathers conquered."

But that is exactly what has taken place in America (200 years later) and in virtually all of the so-called democratic nations around the world. The world has been conquered by the banking establishment, which has captured all the governments in their web of debt. This has been the plan and intent of the banking establishment for at least 250 years, and their plans are now coming to fruition. Heaven help us all.

If Cajasur is 'run largely by the catholic church' who I would imagine look to the Vatican for guidance in most areas, wouldn't that mean The Vatican Bank itself shoulders some responsibility for bail-outs?

Just a thought as their coffers apparently run deep ...