billion dollar run on spanish bank today

gtc08 · May 17, 2012

shares in bankia fell 27 percent once this got out.

the article says it right, its about to implode. when it does, were all screwed.

http://www.dailymail.co.uk/news/art...ILLION--French-government-slashes-pay-30.html

Holmes · May 17, 2012

Spanish government is denying there was a run on the bank:

The Spanish government denied a newspaper report today that customers had withdrawn more than 1 billion euros ($1.3 billion) from the partly nationalised lender Bankia over the past week.

Bankia itself said that deposit activity was normal but the government's denial helped its shares to recoup some of their heavy losses which had accelerated today.

Economy Secretary Fernando Jimenez Latorre denied a deposit flight was underway. "It's not true that there is an exit of deposits at this moment from Bankia," Latorre, a senior official who reports to the economy minister, told a news conference.

Source: http://tvnz.co.nz/business-news/spanish-govt-denies-run-bank-4893010

gtc08 · May 17, 2012

Holmes said:
Spanish government is denying there was a run on the bank:

The Spanish government denied a newspaper report today that customers had withdrawn more than 1 billion euros ($1.3 billion) from the partly nationalised lender Bankia over the past week.

Bankia itself said that deposit activity was normal but the government's denial helped its shares to recoup some of their heavy losses which had accelerated today.

Economy Secretary Fernando Jimenez Latorre denied a deposit flight was underway. "It's not true that there is an exit of deposits at this moment from Bankia," Latorre, a senior official who reports to the economy minister, told a news conference.

Source: http://tvnz.co.nz/business-news/spanish-govt-denies-run-bank-4893010

government spin

HuskerFan1 · May 17, 2012

that must have been the event that caused the spike in gold today....personally im shocked gold is trading where its at in the 1500's with all the crap going on it should be at 2000oz....and it will get there...i think people are gonna start jumping back in and it will trade back up in the 1700's over the next few months....and back to near all time highs/2000oz by the end of the year

kidman232 · May 17, 2012

HuskerFan1 said:
that must have been the event that caused the spike in gold today....personally im shocked gold is trading where its at in the 1500's with all the crap going on it should be at 2000oz....and it will get there...i think people are gonna start jumping back in and it will trade back up in the 1700's over the next few months....and back to near all time highs/2000oz by the end of the year

ehhh last time there was a big crash it took commodities with it, i worry thats whats happening again over the past month or 2 with the decline on gold/oil/silver