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IPFS News Link • Economy - International

Spanish bank to ask for $23B in state funds

• AP
The board of directors of Spain’s troubled bank, Bankia, says it has agreed to ask for €19 billion ($23.8 billion) in state funds.

In a statement released late Friday the bank’s president, Jose Ignacio Goirigolzarri said the recapitalization “reinforced the solvency, liquidity and solidity of the bank.”


2 Comments in Response to

Comment by Ed Price
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This is a clear example of how the world banking system has become the government of the world. In brief, it works like this.

Virtually all the money in the world is loaned to the people and the governments by the banks. When the people and the governments pay back the loans completely, they have no more money to pay the interest. They need to borrow more from the banks to pay the interest.

If the people become too free, the banks simply stop loaning money to them. The people can't repay the loans and the interest, so the banks foreclose on their property.

The above is a very abbreviated version of what is happening, but at its core, this simple picture is what it is all about. Slavery to the banks.

Isn't it time we take back our freedom? Isn't it time we remove the crooked banks and crooks in government who have done this to us? This is something Ron Paul would do in America.

Comment by Powell Gammill
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