Comments on: Bankia’s whopping bailout is double-edged sword http://blogs.reuters.com/breakingviews/2012/05/28/bankias-whopping-bailout-is-double-edged-sword/ Sun, 28 Apr 2013 15:49:48 +0000 hourly 1 http://wordpress.org/?v=3.4.2 By: lnardozi http://blogs.reuters.com/breakingviews/2012/05/28/bankias-whopping-bailout-is-double-edged-sword/comment-page-1/#comment-9275 lnardozi Mon, 28 May 2012 14:00:19 +0000 http://blogs.reuters.com/breakingviews/?p=11731#comment-9275 Well, what do you know? Fraudulently diluting shares by 90% in order to surreptitiously dump the losses on the shareholders didn't work, huh? Now the drop in share price has undercapitalized Bankia eve more, how about that? Could it possibly be that people know Spain is insolvent and that every bank in Greece, Spain and Portugal will experience a bank run? The sad part is they think their Euros will be safe in Germany or under the mattress - they won't. Greek balances in foreign banks will be Drachma-ed when Greece leaves the Euro. A similar mechanism will be applied to everyone else - or the Euro will fail. Only possible action to withdraw account and convert to gold coins, ONE AT A TIME IN CASH to avoid having the transaction recorded. Keep only enough for weekly expenses in Euros. Well, what do you know? Fraudulently diluting shares by 90% in order to surreptitiously dump the losses on the shareholders didn’t work, huh? Now the drop in share price has undercapitalized Bankia eve more, how about that?
Could it possibly be that people know Spain is insolvent and that every bank in Greece, Spain and Portugal will experience a bank run? The sad part is they think their Euros will be safe in Germany or under the mattress – they won’t.
Greek balances in foreign banks will be Drachma-ed when Greece leaves the Euro. A similar mechanism will be applied to everyone else – or the Euro will fail.

Only possible action to withdraw account and convert to gold coins, ONE AT A TIME IN CASH to avoid having the transaction recorded. Keep only enough for weekly expenses in Euros.

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