Spain is sliding into a full-blown economic depression

[Splitlink]

I have an account at Banco Santander in Spain and they messed up a transaction so they owed me a refund. They insisted on giving me the refund in Banco Santander shares! They own so much property here as the developers have gone bust and nobody knows what property is worth as it is not trading.

I believe that you were using Santander to do a certain deal and, unless we know all the details, you are frightening us.

If you have a bank account with Santander I would say that your money is safe, Up until now, at least.

 

[poborsky]

There is a branch just outside, no queue yet, i will keep you informed.

 

[N Rothschild]

if there was potential for a run on a european bank the euro would be getting decimated...

 

[poborsky]

well gold is going up and......

 

[N Rothschild]

gold would get crushed aswell...

 

[counter_violent]

if there was potential for a run on a european bank the euro would be getting decimated...

Ah but have you considered that this little exclusive snippet posted here on t2w...is tomorrows news !

 

[N Rothschild]

holly smokes batman! quick, to the insder trading mobile!!

 

[Technically Fundamental]

Why has nobody considered the fact that they could have just been trying to have him off before these grand theories come up.

 

[poborsky]

gold would get crushed aswell...

if santander goes gold will go through the roof cos it means its system meltdown time here.

 

[anley]

Why has nobody considered the fact that they could have just been trying to have him off before these grand theories come up.

Yep, never trust a banker when he or she is 'trying to help'

 

[N Rothschild]

if santander goes gold will go through the roof cos it means its system meltdown time here.

you mean like when gold went to 600 when lehmen melted down etc? if a bank goes under it will mean everyone will run for cover (us dollar) and unwinder speculative posistions etc..the exact same reason all markets fell last year..

 

[poborsky]

you mean like when gold went to 600 when lehmen melted down etc? if a bank goes under it will mean everyone will run for cover (us dollar) and unwinder speculative posistions etc..the exact same reason all markets fell last year..

Doubt it. Different forces at work this time. Correlations change.

 

[anley]

you mean like when gold went to 600 when lehmen melted down etc? if a bank goes under it will mean everyone will run for cover (us dollar) and unwinder speculative posistions etc..the exact same reason all markets fell last year..

'Everyone' doesn't include me

 

[poborsky]

Latvia on the brink of collapse, US commercial banks about to crap, USDX tanks and gold makes a new high. The fact that the BRIC countries are gonna ditch the dollar isnt new news.

 

[TWI]

Despite the evidence presented that Spain is going in the crapper property on the Costa Brava is still stubbornly well supported. I keep watching, expecting the bargain of the century but it certainly hasn't happened yet.

 

[chump]

"Stubbornly well supported" actually seems to mean that the banks are not at this time allowing foreclosures to find a market price.That works for as long as the banks can afford to keep it running and that is unknown. It stretches out the underlying problem in terms of buying time for the market to help them solve the problem of supply overhang.The latter though is huge.

 

[Mayfly]

Watching with interest, what else?

Cheers

M

 

[Black Swan]

Despite the evidence presented that Spain is going in the crapper property on the Costa Brava is still stubbornly well supported. I keep watching, expecting the bargain of the century but it certainly hasn't happened yet.

Oh I don't know, 'penthouses' in Marbella that were 500K now 200K not enough for you? V. different perspective when you actually get out there...

 

[chump]

Oh I don't know, 'penthouses' in Marbella that were 500K now 200K not enough for you? V. different perspective when you actually get out there...

Black Goose
Have not been over for quite awhile. I assume from your comment you have and if so what feedback can you give that relates to day to day experience in spanish prop..that is did you get next to some agents who were willing to give a realistic idea of market conditions ,price and volumes ,sales times etc ?

 

[poborsky]

the Spanish have a different mentality, if things arent selling well they put the price up.