News

**Astrochik**

http://www.zerohedge.com/contributed/201...e-collapse

Quote: Spain is about to enter a full-scale Crisis.

A few facts about Spain:

• Total Spanish banking loans are equal to 170% of Spanish GDP.

• Troubled loans at Spanish Banks just hit an 18-year high.

• Spanish Banks are drawing a record €316.3 billion from the ECB

(up from €169.2 billion in February).

Things have gotten so bad that Spanish citizens are pulling their money out of Spain en masse: €65 billion left the Spanish banking system in March 2011 alone.

As bad as they are, even these data points don't do justice to the toxic sewer that is the Spanish banking system.

Case in point, over HALF of all Spanish mortgages are owned by Spanish cajas.

If you're unfamiliar with the caja banking system, let me give you a little background...

Until recently, the caja banking system was virtually unregulated. Yes, you read that correctly, until about 2010-2011 there were next no regulations for these banks (which account for 50% of all Spanish deposits). They didn’t have to reveal their loan to value ratios, the quality of collateral they took for making loans… or anything for that matter.

So, with Spain today, we have a totally unregulated banking system sitting atop HALF of ALL Spanish mortgages after a housing bubble that makes the one that happened in the US look like a small bump.

Spain is Greece… Only Bigger and Worse

**ZeroToad**

As the Anchor Drags! doomed

And sew it continues . . .

Ribbit chuckle

**LoP Guest** lop guest User ID: 91823 04-22-2012 06:55 AM

Nothing new, predicted quite some time ago (2009).

Believe it or not, some of us actually saw all this coming.

That's why I told you Clif is a fraud.

http://news.goldseek.com/GoldenJackass/1260928800.php

**Baldrick**

Economic doom. The slow burn

**Astrochik**

LoP Guest Wrote:

Nothing new, predicted quite some time ago (2009).

Believe it or not, some of us actually saw all this coming.

That's why I told you Clif is a fraud.

http://news.goldseek.com/GoldenJackass/1260928800.php

yes, lots of us saw this coming, but evidently Zerohedge thinks it's going to occur imminently now...

How on earth would this show clif is a fraud?

**LoP Guest** lop guest User ID: 91823 04-22-2012 06:57 AM

From preceding link -

"Spain's Govt default will soon default. The reality of proper accounting for property writedowns and the corresponding bank debt losses will have a calamitous effect. Over 20% unemployment and the powerful recession in progress will ensure a Spanish Govt debt default. But the immediate fireworks are seen in Greece, where the Premier Papandreou has shown defiance. He will not permit the nation to undergo the mindless reckless coerced IMF restrictions and guidelines, with the workers of Greece suffering. "

FYI, the gold-back schemes like the Dinar
have been in process for several years
as eventual replacements for the dollar.

**LoP Guest** lop guest User ID: 91823 04-22-2012 07:00 AM

Astrochik Wrote:

How on earth would this show clif is a fraud?

Oh, webbots, why have you forsaken Astro?

Lmao

Credit cycle, aka the kondratieff wave is
a well-known event.

**The Comedian**

It couldn't happen to a nicer bunch of chickenshit Socialist dumbasses.

Spain deserves to starve to death.

**The Comedian**

Baldrick Wrote:

Economic doom. The slow burn

I'm long crossbows and short domestic tranquility.

**synchromystiman**

A house of cards on a foundation of sand.

doomed

**Astrochik**

LoP Guest Wrote:

From preceding link -

"Spain's Govt default will soon default. The reality of proper accounting for property writedowns and the corresponding bank debt losses will have a calamitous effect. Over 20% unemployment and the powerful recession in progress will ensure a Spanish Govt debt default. But the immediate fireworks are seen in Greece, where the Premier Papandreou has shown defiance. He will not permit the nation to undergo the mindless reckless coerced IMF restrictions and guidelines, with the workers of Greece suffering. "

FYI, the gold-back schemes like the Dinar
have been in process for several years
as eventual replacements for the dollar.

http://lunaticoutpost.com/Topic-Free-Peo...GOES-VIRAL

**STOPPITT**

I heard that if the Euro falls, dominos. Monday Wall Street, maybe Wednesday? No economist but....

doomed

**LoP Guest** lop guest User ID: 91516 04-22-2012 07:09 AM

The Comedian Wrote:

It couldn't happen to a nicer bunch of chickenshit Socialist dumbasses.

Spain deserves to starve to death.

Oh really? You really feel so cruel as to say that about their innocent children too? Careful what you say, this country will see it too.

**Astrochik**

STOPPITT Wrote:

I heard that if the Euro falls, dominos. Monday Wall Street, maybe Wednesday? No economist but....

Lindsey Williams says two to three weeks after Euro goes, dollar follows suit... doomed

**LoP Guest** lop guest User ID: 58907 04-22-2012 07:13 AM

Here is another person that called it and what is yet to come.

http://www.youtube.com/watch?v=QCxjqPgHgpA

Here is the whole series.

http://www.csper.org/renaissance-20.html