http://www.zerohedge.com/news/spain-runs-out-money-feed-zombies Oh dear. After Bankia having to post a 4.3Bn Euro loss (instead of a declared profit), Spain has to bailout Bankia, but with what? If I was in Spain (or Greece) I'd be getting my Euro(s) and running to the hills (i.e. Gold and/or Silver)
Well, it seems like they just received $30B from somewhere... I thought 50% youth unemployment meant a country was already on its knees? I guess there's another whole 50% to churn through first. Good thing they can prioritise on where to spend money. Employment versus Bank bail-outs? Funny thing is, there is only one place Spain is getting the money to bailout those banks and its from the people via greater taxation. Just like Greece, they can not print and devalue but like Greece, they are committing to increasing foreign debt to bailout their financial sector, to then inflict "austerity" on the Spanish parents and families through increased taxes and reduced services. It will be interesting to see if They are allowed to get away with this looting again.
