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 Post subject: Looks up
PostPosted: Tue Aug 17, 2010 1:00 am 
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... gazes around and sees this. Dives sharply for cover. You don't have to be an expert to know this is funny money – and it's going to go belly up. In fact – as always – the only people who don't know are the experts.

View full article here

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 Post subject: Re: Looks up
PostPosted: Tue Aug 17, 2010 1:59 am 
but what are los bancos doing with this money?

It seems a simpler way to get cash than compete for customers.


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 Post subject: Re: Looks up
PostPosted: Tue Aug 17, 2010 2:08 am 
What does this say about Santander which now owns several UK banks? I always thought it odd that the Spanish were buying our banks when forecasters were predicting big problems in Spain.
Even if Santander are apparently strong, if Spain goes down surely they can't escape unscathed?


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 Post subject: Re: Looks up
PostPosted: Tue Aug 17, 2010 5:23 am 
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The EU are so clever; only they noticed that the German's are a sweet natured nation always at hand to raise taxes to underwrite the debt of the Greeks, Italians, Irish and Spanish.

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 Post subject: Re: Looks up
PostPosted: Tue Aug 17, 2010 8:45 am 

Joined: Mon Aug 01, 2005 10:21 pm
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RAENORTH wrote:
... gazes around and sees this. Dives sharply for cover.


But where, oh where, to find cover?

PDT_Armataz_01_05


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 Post subject: Re: Looks up
PostPosted: Tue Aug 17, 2010 8:49 am 
Santander has just bought up my mother's bank, Alliance and Leicester, where she has her life savings invested. Santander are in the process of buying up my bank, RBS. Having tracked Spain's poor economical record for myself, and having just read the linked article, I'm not just worried and angry, I'm f*cking outraged. What's the betting the creeps in power give the nod to St Pander's latest acquisition. It's going to put a lot of people out of work because Santander already has many high street branches, a few on the same high street as RBS. Bastards!


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 Post subject: Re: Looks up
PostPosted: Tue Aug 17, 2010 9:33 am 
NRS - try to divvy up Mum's savings in 50k blocks among the family, particularly children, who are not near the govt's compo limit. I know it's the same gubmint that is offering Equitable Life policy holders 10p in the pound, but...


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 Post subject: Re: Looks up
PostPosted: Tue Aug 17, 2010 10:38 am 

Joined: Tue Aug 16, 2005 10:00 pm
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Ther has been some mistake - that chart has nothing to do with Spanish banks; it's my farm overdraft.

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 Post subject: Re: Looks up
PostPosted: Tue Aug 17, 2010 11:59 am 
I assume that's net borrowing (additional borrowing over any paid back), and not simply gross otherwise the graph isn't very useful.

If so, a quick visual integration gives the total Spanish bank borrowings over the last 11.5 years as 1.5 trillion euros (1.5 x 10^12) .

I can't find the figures but I wondered what the total eu budget was over the same period so as to put this borrowing in some kind of context. Of comparable order perhaps?


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 Post subject: Re: Looks up
PostPosted: Tue Aug 17, 2010 12:11 pm 
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John Archer wrote:
I assume that's net borrowing (additional borrowing over any paid back), and not simply gross otherwise the graph isn't very useful.

If so, a quick visual integration gives the total Spanish bank borrowings over the last 11.5 years as 1.5 trillion euros (1.5 x 10^12) .

I can't find the figures but I wondered what the total eu budget was over the same period so as to put this borrowing in some kind of context. Of comparable order perhaps?


The problem is that no one knows or cares ... it's funny money ... they make it up as they go along, and if people start to understand what is going on, they change the parameters or method of recording ... or simply lie. The truth of it is that, after a while spent trying to work it all out, most people end up shrugging their shoulders and walking away. It will collapse in due course, the "little man" will get screwed and the "toffs" will make a mint. T'was ever thus.

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 Post subject: Re: Looks up
PostPosted: Tue Aug 17, 2010 12:13 pm 
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Quote:
Report this postReply with quoteRe: Looks up
by mikgen » Tue Aug 17, 2010 7:45 am

RAENORTH wrote:
... gazes around and sees this. Dives sharply for cover.

But where, oh where, to find cover?

Now that is the biggest problem of them all!

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 Post subject: Re: Looks up
PostPosted: Tue Aug 17, 2010 1:11 pm 
RAENORTH wrote:
John Archer wrote:
I assume that's net borrowing (additional borrowing over any paid back), and not simply gross otherwise the graph isn't very useful.

If so, a quick visual integration gives the total Spanish bank borrowings over the last 11.5 years as 1.5 trillion euros (1.5 x 10^12) .

I can't find the figures but I wondered what the total eu budget was over the same period so as to put this borrowing in some kind of context. Of comparable order perhaps?


The problem is that no one knows or cares ... it's funny money ... they make it up as they go along, and if people start to understand what is going on, they change the parameters or method of recording ... or simply lie. The truth of it is that, after a while spent trying to work it all out, most people end up shrugging their shoulders and walking away. It will collapse in due course, the "little man" will get screwed and the "toffs" will make a mint. T'was ever thus.

AHA! Thank you.

I should have known.


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 Post subject: Re: Looks up
PostPosted: Tue Aug 17, 2010 1:34 pm 

Joined: Mon Aug 01, 2005 10:21 pm
Posts: 1854
John,

Thanks for the help with the graph. Here is the answer to your question: Spanish Banks Increase Net ECB Borrowing


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 Post subject: Re: Looks up
PostPosted: Tue Aug 17, 2010 3:23 pm 
If I remember rightly didn't the Spanish banks make all their money just prior to the civil war through speculation?

Luckily I can't think that any national or supranational regulating authority that would allow banks with such shaky foundations to purchase other banks............Only joking it is obvious that B&B and the Abbey are stuffed. Well done NuLiebour and the EU again!!


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 Post subject: Re: Looks up
PostPosted: Tue Aug 17, 2010 6:05 pm 
Is Santander one of the banks in trouble?
I had thought (read in the MSM so probably BS) it wasn't.


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