SANTANDER – Update
Following on from my original SANTANDER post: santander-a-banking-giant-out-of-the-blue
From Larouche-Pac (EIR):
“February 9, 2010 (LPAC)—Lyndon LaRouche today issued a stern warning to those around the world, who have bought into the British imperial propaganda line that the United States is going down, and that any alliances or cooperation with Washington are fruitless. “The truth is, that it is the British System that is collapsing, far more rapidly than most people wish to believe. People must realize that the power of the British-led bloc is crashing, and that the clearest sign of this collapse is the unraveling of the Inter-Alpha banking group, led by Banco Santander.”
LaRouche explained: “Last week, I conducted a test, aimed at smoking out the true vulnerability of the British System, through particularly the exposure of Banco Santander, in the onrushing collapse of the European Monetary Union. I warned that Santander was thoroughly exposed in this process, and that this would, in turn, bring down major parts of the City of London, including the British government-run Royal Bank of Scotland, which is indistinguishable from Santander. I also warned that the epicenter of the European crash was not Greece, but Spain. I warned of an immediate spill-over into Brazil, where Santander has been the long arm of British looting policies for more than a decade.
“I was proven right, beyond most people’s expectations,” LaRouche continued. “Within 48 hours of my issuing the warning about the British exposure through Santander, the roof caved in on the nominally Spanish bank, which is, in fact, at the heart of the British System and its reach into continental Europe, Ibero-America and even Russia. Last week, Santander’s total value crashed by 16 percent, and that is just the beginning. Sensing the blood in the water, Union Bank of Switzerland (UBS) issued a “sell” recommendation on Santander stock to its clientele before the end of last week.
“The lesson to be learned from my little test: The British are not the financial power they claim to be. Their system is coming down, fast and hard, and anyone who continues to bet on the British System, including the City of London-manipulated European Monetary Union, is making a very bad bet, indeed.”