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Spain downfall, Spain Small Lenders Struggling for Funding

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posted on Jun, 9 2010 @ 08:32 AM
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Spain small banks to fall under the weigh of bad loans and unable to get loans, like in the US they will be taken by big corporate banks monopolies.

How the ECB is taking over nations,


Spain Small Lenders Struggling for Funding,

"The smaller Spanish banks cannot finance their positions in (Spanish) government bonds through the repo market outside Spain. This shows just how little appetite there is for Spanish government risk outside Spain," the financial source said.

"And the problem is these small lenders do not have access to the interbank market so basically they are tapping the ECB to cover short-term funding needs," the source said.


www.cnbc.com...




posted on Jun, 9 2010 @ 08:35 AM
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reply to post by marg6043
 


The EU countries really need to get back some control of their central banks so they can control their own monetary policy.

There is serious weakness in their current approach because the Maastricht treaty basically doesn't let central banks do their job and governments have to borrow from private institutions instead of from themselves.



posted on Jun, 9 2010 @ 08:40 AM
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reply to post by belial259
 


That is why nations can not longer finance the welfare state they were creating while mismanaging their nations resources and wealth.

Now is hardly a nation that doesn't depend on global markets and big central banks for their everyday business.

And all this only increases their national debt that can never be repaid.



posted on Jun, 9 2010 @ 10:02 AM
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The central banking system, modeled on the original Bank of England, was designed to create this situation--where sovereign governments become totally dependent on central banks, their creditors, and thus lose their sovereignity.

It was a set up from day one, designed by bankers and supported by corrupt politicians, who found a way to spend without directly taxing the people, by borrowing from the central banks--and leaving the problem for future generations to deal with.

Well, the chickens have finally come home to roost, and the current generation of politicians are having to deal with the problems created by past generations--and unless the central banking system is totally dismantled, the problems are not going away, and will only get worse. Anything short of that is like putting a bandaid on a patient with terminal cancer.



posted on Jun, 9 2010 @ 10:06 AM
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Not a surprise Spain hasn't had an economy since they crashed the silver market with their colonial mines.

The Spanish are a bit different than most people though. I don't think a bank crash would affect the average Spaniard as much as it would an American or Briton.

[edit on 9-6-2010 by thedarklingthrush]



posted on Jun, 9 2010 @ 10:06 AM
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reply to post by Angiras
 


Dismantle will be the ideal choice, but when entire fortunes were created during this type of corruption and when the very wealthy elites are leaching constantly nations to support their wealth, they will not go willingly without a fight or doing what they are doing now, bankrupting entire nations.



posted on Jun, 9 2010 @ 10:27 AM
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reply to post by marg6043
 


Yes, I agree. There is no real solution given the current political, economic environment. The system will have to crash in a catastrophic manner before a new system can be put into place. As horrible as that scenario might be, it is the only medicine left.



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