Topic: Santander

The 2013 Canadian budget includes language regarding the "rapid conversion of bank liabilities," which the hosts identify as a "bail-in" policy similar to the one implemented in Cyprus. Investor Jim Rogers is cited regarding the danger of trusting government assurances about bank safety. The hosts warn that European banks, specifically Santander, are changing terms to allow for the seizure of depositor funds.

Major banks in the UK and Spain, including RBS, NatWest, and Santander, have reported significant software glitches following system upgrades. These technical failures have resulted in customers being unable to access accounts or seeing incorrect balances, with errors predominantly favoring the banks. The hosts suggest these "glitches" may be a convenient way for struggling Eurozone banks to manage liquidity.