This is escalating rapidly, and risks getting extremely ugly (World Wide) SHTF. Note.......the jump from 50 billion to 80 billion. I'll be very surprised if this is not explosive when world markets open tomorrow, yes tomorrow Sunday. Note also the long dated derivatives. https://www.zerohedge.com/news/2019...utsche-bank-offices-monday-mass-firings-begin More current Info.....https://www.zerohedge.com/news/2019...rs-will-be-fired-bad-bank-soars-eu80bn-5x-its This should be illegal........but it is totally legal.
If anyone does not know how this works, just ask. If you do understand how this works......ask yourself, just who is the counter party to the long derivatives and are they pooping a brick. The odds are this will get managed, it may get ugly. But this is the type of thing that will eventually bring the whole financial smoke and mirrors down. This is classic.
Derivatives you got to love them, "The financial WEAPON of MASSDESTRUCTION". In the mean time Goldman SUCKS just urinated on Dushe Bank. https://www.zerohedge.com/news/2019...aysias-1mdb-after-goldman-throws-it-under-bus EXCERPT: When it rains inside the halls of Deutsche Bank, the flood is biblical. Just when it seemed that the biggest (if not for long) German bank, already reeling from the biggest mass layoffs since Lehman, couldn't possibly bear any more bad news, along comes the US government with yet another potentially criminal investigation, this time over Deutsche Bank's involvement with the sprawling, multibillion-dollar Malaysian development fraud scandal that toppled a prime minister, crippled Goldman Sachs stock and stretched from Hollywood to Wall Street. According to the WSJ, the DOJ is investigating whether the German bank violated foreign corruption or anti-money-laundering laws in its work for the 1Malaysia Development Bhd. fund, or 1MDB, which included helping the fund raise $1.2 billion in 2014 as concerns about the fund’s management and financials had begun to circulate. So how did Deutsche Bank get thrown into yet another scandal? It turns out that DB was snitched out by former Goldman banker, Tim Leissner, the man who was ground zero in the original 1MDB scandal, and who ended up costing Goldman billions in dollar in market cap as its stock tumbled last year as its role in the biggest Malaysian corruption scandal got exposed, and according to some, cost Lloyd Blankfein his job. As it turns out, Leissner is now cooperating with authorities, and among his "good Samaritan" duties decided to throw the one bank that has more dirt on it than Goldman: Deutsche Bank. As we have reported extensively in the past, prosecutors have been investigating similar issues at Goldman, where Leissner, a former managing director, pleaded guilty last year and admitted to earlier helping siphon off billions of dollars from the fund.
It just shows the whole illusion, and the corrupt foundation on which our entire social systems are structured.
If the question is WHY. This explains that. https://reaction.life/the-parable-of-deutsche-bank-and-investment-banking/
As you know, I keep up withe euro-status, D.Bank, European banking inter-connectivity. What stuns me most is how, even if major failures happen, "some intervening agency" steps in and suddenly its all, "Not to worry"-time again. Amazing how not just the sheeple, but people who should know better, keep going-on testifying to the raw beauty of the emperor's new clothes. Investment houses MUST continue the charade, however who will it be to finally dig in their heels and say, "No. No more. I will not take your securities -- they are not secure. I will not take your fake money." Russia and China realize this intimately. This is why they are gangbusters trying to build a new currency to defeat the euro and the U.S. dollar. I've pointed this out 100 times, gold-producing Russia is buying Gold. Communist China is buying gold. They know what is coming and plan to be there with a "solution". That solution will be a "final solution" to Western currencies. Even though China the exporter needs us, there are limits. China is DEEPLY tired of being "contained" and so is Putin. Will China/Russia/India/Brazil/S.Africa risk war? Yes. Could military conflict(s) cause the economic hammer to drop? Yes. We are now within one of human history's core crux-points. "May you live in interesting times," is an ancient curse.
New Info. (Remember that a week ago I told you'all that the issue was going to be the "Counter Parties" to the Derivative EXPOSURE) And I am changing the title of this thread to: CODE Dull "RED" https://www.zerohedge.com/news/2019-07-16/bank-run-deutsche-bank-clients-are-pulling-1-billion-day
A Bank With 49 Trillion Dollars In Exposure To Derivatives Is Melting Down Right In Front Of Our Eyes According to a 2016 report from the International Monetary Fund (IMF), Deutsche Bank is heavily interconnected financially to JPMorgan Chase, Citigroup, Goldman Sachs, Morgan Stanley and Bank of America as well as other mega banks in Europe. The IMF concluded that Deutsche Bank posed a greater threat to global financial stability than any other bank as a result of these interconnections – and that was when its market capitalization was tens of billions of dollars larger than it is today. http://theeconomiccollapseblog.com/...es-is-melting-down-right-in-front-of-our-eyes
Good morning IBME, If / when DB experiences derivative stresses it cannot handle, the bank's insurance and the underlying collateral will get activated. I don't know if Berlin considers DB "too big to fail" but NYC and Houston would love them leaving the scene. If Nord Stream 2 pipeline can't pay for Russian supplies, there's always the Texas bankers to help out.
AIG wealth still around. They just had to end their China market experience. Greenberg took a hit but others are still having a good time. Lehman Bros was a co waiting to happen.
All these banks / fin houses are insured to the hilt. Insurance - some private and some is public - isn't written unless the risk is acceptable to the underwriter. I don't know the specifics of DB but they do have assets.
Intentional or not intentional the communist would not let a finance crisis go to waste . They would look upon it as a chance to usher in a more global monetary system . After all " in their view" all countries should be equal in wealth . World control and domination of the population on steroids .
Assets that like they carry on the books marked at 100 percent of face value, but would be hard to sell if marked down to real market value.......say twenty cents on the dollar. The only insurance is the tax payers.
A financial reset could potentially render all cash , regardless which countries recognized currency you might hold " worthless "as well as any value of silver and gold . That can of beans in your pantry could potentially have more value than a gold coin . Do I really think that will happen " no " but possible " yes " .
IBME, 100% correct. Even if the assets were properly valued by the underwriter and DB could cover much of their losses, the tax payers will bear the bulk of the loss.
The US laws were changed after 2007 in that any assets in a bank today are the property of the bank. If you deposit your pay check into savings or checking today in a US bank it is no longer your money but has become an investment into that financial institution and is subject to total loss in the event of a financial crash of that institution. This also includes any assets placed into safe deposit boxes. I'm sure that the Euro banks have done this as well since we seem to follow what happens there shortly thereafter. The Bail-In: How You and Your Money Will Be Parted During the Next Banking Crisis https://sandiegofreepress.org/2015/...ill-be-parted-during-the-next-banking-crisis/
Now that was something I did not know. I will be dropping my bank account and moving the money to a credit union. No more banks for me. My money is my money, not the banks property.
Does anybody have any knowledge disputing the posted article? I am looking for some additional validation on the banks ability to claim account money as there own and or claim contents of a safety deposit box as their asset.
It is valid.........and has been done, at banks that went broke. You just become a investor rather then a depositor. Generally you can withdraw a small amount weekly or monthly, typically enough to cover some small living expense. I would assume it is the same with credit unions. You might look into "Private" safe deposit companies. The big gamblers all have massive cash in private safe deposit boxes at different Casino's. If your not 100% clear about negative interest rates, and their reason for being, then a person should be planning on that problem also. This is what happens when there is little or NO road remaining down which to kick the can any further.
https://gsiexchange.com/how-dodd-fr...-to-confiscate-funds-during-a-banking-crisis/ How Dodd-Frank Made It Legal for Banks to Confiscate Funds During a Banking Crisis https://www.globalresearch.ca/depos...ajor-banks-may-use-the-bail-in-system/5649949 Depositors – Not Taxpayers – Will Take the Hit for the Next ‘2008’ Crash Because Major Banks May Use the ‘Bail-In’ System https://www.bloomberg.com/quicktake/bail-in Bail-In Grrrr. I hate to post anything by these guys but: https://www.huffpost.com/entry/new-g20-bailin-rules-now_b_6244394 New Rules: Cyprus-style Bail-ins to Take Deposits and Pensions It seems to be a worldwide issue too. Now hitting Australia https://bradjamesmatthews.com/australia-new-bank-bail-in-laws/ Australia’s Scary New Bank Bail-in Laws Now in the US there is another new danger. They seem to be rolling back some of the Dodd Frank laws that were passed to keep the banks from asking for bail out money and pushed them into the "bail in" instead. I know you might think they would roll back the parts that say they can take depositors money right? WRONG. They are going to let the banks take on riskier loans again which I believe is what caused the whole mess in 2007 in the first place.
Now with my question about banks answered, does anybody know if this applies to credit unions? I am in the process of transferring my assets into my credit union and closing down my banking accounts.
As the condition spreads...........https://www.zerohedge.com/news/2019...ctedly-ceases-operations-and-closes-its-doors
Deposit accounts, security boxes and and iirc some other cash-equivalent investment accounts are considered the banks and they have been given the legal authority to "repo" said accounts in the event the bank is unable to pay its own debts (derivatives dues). I also believe it has already occurred once, and after the US instituted said policy the UN's IMF sent out an emergency declaration for ALL banks to incorporate such laws. I wrote a minor article on it a couple years ago, when look for it on my home pc when I get back from work.
CU's are no where near as exposed to the derivative market as commercial banks, but fiat money is fiat money.
Don't say you did not see this coming..........any day now.....financial melt-down, and not just Europe. http://theeconomiccollapseblog.com/...death-watch-has-taken-a-very-interesting-turn
I hear you. If you have read the old PSLs, this has been on the radar since the late 70s. We have been successful at kicking the can down the road help along this past decade by the Chinese printing money to invest in the US stock market. But the truth is, the Ponzi scheme that is our financial system is long overdrawn, and when it crashes, it won’t be kind to most. There are real signs of alarm. Ignore at your own risk.
The biggest danger for the well prepared prepper is not being able to buy much "if anything " is debt . That is why one of our clan dangles from a helicopter on a cable and gets dropped off on electrical power lines coming from electrical generators . They drop him off and leave him dangling on a fully charged power line as he makes repairs to keep the whimpy from having power disruptions . He wears a special suit and becomes like a bird on a power line . He is making the big bucks and is pulling himself out of debt . There is no whimpy people in our bunch . Even my wife's SISTER used to climb cell towers for a living . That is why a looter would be making a huge mistake thinking we would be passive and a easy target . We have our bloodhound ready for pursuing them as we would expect any aggressor to quickly be running from us .
This is interesting.......and a fairly compelling map forward. https://www.zerohedge.com/markets/fed-secretly-bailing-out-major-bank
If the populace knew just how bad things are, they would lose all trust in the banking system and the dollar. American government and banking officials consider this a thing impermissible. Anything that can be done legally or illegally will be done to keep Western banks afloat. In Spain, Greece, and Italy, the banks are now poorly glued stack of toothpicks. Major German banks are falling on hard times. The European Union needs Great Britain to stay in. They need to soak Britain for all they can to stay afloat. Even if the economy appears to be doing well, if the debt is too high and growing higher by the hour, the pretty skin is getting ready to be torn off. Sometimes currencies just collapse -- no foundation for a building, the building topples. Something like 22 world currencies collapsed during the 1900s. In the USA, the dollar didn't collapse, companies did. No jobs. Meanwhile Russia and China are doing everything in their power to replace the U.S. dollar as the world's reserve currency. I believe that the dollar will be replaced. The dollar is doomed. Russia, a gold-producing country, is aggressively buying gold. Chart is from: https://www.zerohedge.com/geopolitical/vladimir-putin-sums-new-world-order-5-words Me, I don't go around believing Russian Mafia boss Putin, however Russia's gold purchasing speed is very telling. They are going to create and back a currency using their gold, bullets, and bombs. This will inevitably kick the crap out of the dollar and become the new petro-currency. China is trying to do the same; plus, they are pushing down into the South China Sea to grab territory to drill the oil fields that exist in that part of Asia. China is even building man-made islands. This is all-out economic war. .
Money, especially American money is just paper. It has no real value except that it can be exchanged for real goods and property in America. Unfortunately, we have had a LOOOOONG string of Presidents that have done everything in their power to cut our throats. Some signed us up for trade with other countries that placed us at a massive disadvantage so that the rich could move their factories out of the country. this has made billionaires out of the millionaires and rumor has it that we now have 2 or 3 trillionaires. Then you have the ones that have cut our oil production to nothing and wiped out our coal production. Best of all Obama shipped ONE POINT SEVEN BILLION US DOLLARS TO IRAN TO FINANCE THEIR EFFORTS TO BECOME A NUCLEAR POWER. He loaded it up in CASH on pallets and flew it to them. Yeppers Hussein Obummer was a great American president...IF YOU WERE AN IRANIAN. The banking system is a worldwide criminal agency that has one primary objective...to make the rich richer while crushing the middle-class worldwide. Throughout most of my life, America's worst enemy and greatest threat to our continued prosperity and safety has been our own leadership. This is true worldwide. The European Union is little more than a suicide pact. I think that it is going to be successful. the US is trying to do the exact same thing. The Washington politicians desperately want to do away with the UNION and replace it with a Washington based Republic where ALL laws and control reside in the hands of Washington politicians. If they ever manage to do away with the electoral college and make the presidential election a popular vote the United States of America will be DEAD. We have bailed out the banks over and over. We bail out the various car companies that are not called Ford regularly. The rich get richer and the little guys get screwed.
I have a question . In the event of a banking or dollar collapse what would be the fallout for someone holding an unsecured loan ? For instance credit card debt .
Basically in the recent past, it actually works out pretty well in those sorts of situations. What happens as "faith" in the dollar falls is inflation. As each dollar becomes worthless the costs of things go up. During the 70s and early 80s inflation was running rampant. The people on a fixed income were suffering. I was fortunate in that the place that I worked had offered us a rather liberal cost of living pay increase in exchange for a smaller immediate raise. For several years we were getting a 25 cent raise every couple of months. My pay went from $4.74 to double digits. Suddenly the debts that had been sort of large when I was making less than 5 bucks an hour became small and easy at over twice the income. I started buying everything that I could on credit. The prices were going up at a rate that was more than the payments. I bought a Mini 14 as soon as they were available to the public. I paid 146 dollars for it brand new. I kept it and shot it thousands of times and then 10 years later sold it with a 1000 rounds of reloaded ammo for 750 dollars. My parents bought a house that was a lot more than they wanted to pay. It became a joke as the value of the house started to grow faster than the payments. It went from a 40 thousand dollar house to a 95 thousand dollar house and the payments of 350 were dirt cheap. The problems start when the inflation rate starts to make doing business grow faster than people are willing to pay for the products. Paying bills when you are out of work is challenging. I was lucky in that I have many craft-type skills and did day work for about a year. I roofed homes, painted a school, Did tuneups on cars and trucks, delivered circulars, did janitorial work for a church, I worked for cash and while it was tough we survived. That one-year recession was the end of the runawy inflation. My Grandfather made the comment one time about inflation. He said that the price of a loaf of bread was a dollar and that was way more than it used to be. He remembered when bread was nickle to a dime a loaf. He said that he much preferred inflation to a depression. When bread was a dine he didn't have a dime but now that it is a dollar he always has some money and can pay for the NEEDS in life. He was right. The NEEDS don't go up nearly as much as the luxuries when inflation is rolling. I remember 5 for dollar burgers. The minimum wage was just over a dollar and a half. Now there are dollar burgers but the minimum wage is over 7 dollars. Now really much change.
Your credit card debt would accrue interest and most credit card debt is not dischargeable in bankruptcy. You would be paying it back with inflated dollars. The unsecured debt you are currently holding would likely be a total loss. If Joe borrowed $20 it would depend on Joe's ability to pay and his honour. Here is one of your unsecured loans that most people don't consider, any bank deposits. When you deposit your currency in a bank they "credit" your account. That is because they, and the law, see this as them borrowing your funds. If the bank goes belly up you are the last to be paid. If you hold a credit card at the same bank you are still required to pay off the credit card. If you have a mortgage at the same bank, that holds your funds, large enough to pay off your home, you still have to pay while they don't have to pay you.
The socialists will attempt to index debt -- which is to say that your debt goes up / follows inflation. Banks first foreclose on home loans that are almost paid-off. This way the bank at least gets its money back -- they care nothing about how you get by. We'll see if the socialists can get the police to enforce such laws. In urban areas, they might be able to do so. One wonders about rural areas. "Can't get money out of a turnip." https://nationalistreview.net/2019/...ssary-to-protect-their-right-to-own-firearms/ Here's a communist news story concerning https://wamu.org/story/19/12/04/va-counties-declare-they-wont-abide-by-new-gun-laws-is-that-legal/
State and local police are one thing but a Sheriff is totally different. While a cop might be fired for not following an order a Sheriff is an elected official and has the authority to determine the constitutionality of a law. One VA Sheriff claims to be willing to deputise thousands of residents if anti-gun laws are passed. These reserve deputies could then carry and own guns.
Good afternoon Old Geezer, I'm transmitting from one of those Virginia counties "up in arms" - if I may use literary license - about what's going on. There was an evening county meeting - crowded ! - over subject. My county's Board of Supervisors' official statement is not to enforce any unlawful laws/regs ... something within this theme. Much of this is symbolic because the state has overriding authority and the Feds control the state of Virginia - in reality...because of the $$$. The rest is the political tradeoffs. I can guess what will happen after November 2020 but my guess is for another thread. Caribou is correct. A Sheriff in Virginia is called a "Constitutional Officer" and cannot be fired by the county or city (Some cities have both a police department w/ police chief and a Sheriff's Office with an elected Sheriff). Sheriff's have special status. The ~ 20 counties are mostly rural and other than a news event, the political segment is small. I'll repeat something Tex Dan said of utmost importance: participate in your area's politics. Most here do not - even thought they have the time and means.
The nation being two nations, we will be seeing both sides refusing to obey the laws of the other. The boiler gets hotter and hotter by the month. When a full head of steam is reached, neither side will give. The pressure will have nowhere to go. There are going to be explosions all across this country. If Trump makes it to the election (the collectivists want him gone via impeachment/conviction or biologically) and he wins the 2020 presidential election, there will be riots in American urban areas. If Trump doesn't make it and a collectivists win the White House, Heartland America will not obey the new federal laws that will be spewing out of D.C.. We Americans are reliving the 1850s. Civil War II is just on the horizon.
So far, despite your 'two nations' hypothesis, everyone's still obeying the same laws, albeit with a bit of grumbling. I will grant that the lefties are, for the first time, getting involved in the gun debate in larger numbers. How accurate the recent 2A polls are and what they portend is still up in the air, but right now... True. About half of the American electorate wants him gone, if you can believe the CNN and the FOX polls. Which he will; unless the economy goes in the toilet, which I doubt will happen. Naah. The urban areas have traditionally been disproportionately minority, and I doubt if minorities (speaking generally) care much about one white politician versus another. White liberals will care, but when was the last time we saw white liberals riot? 1969? And that was because of the war. I don't think so. If we start bringing American boys and girls home in body bags, we could see trouble à la Vietnam, but barring a truly trumpian miscalculation, that isn't going to happen. Besides, President Buttigieg doesn't make the laws, the Congress does; and there isn't going to be a big majority (either way) in the House or the Senate. I can't see any new laws that would be that big of a idea. If the Democrats tried to tighten up the gun possession rights, the Supremes would likely squat down hard on them. I'm keeping my AR's and so will the rest of you. New background checks? Yeah, that's a given. But I doubt if the Fedz will try a national New York/California set of gun laws. And what else could they do? Defund the border wall? After four years, the wall's pretty much dead. Re-instate the ACA? If Trump had managed to actually get rid of it and had something to replace it with, maybe. But ACA is still the status quo. The only thing we need to worry about with a Democratic Administration and Congress would be the 2A, and I don't think that's going to be a show-stopper... ...At least, I hope not!
They are not grumbling, they are overtly disobeying these invalid laws. In California only 15% of "assault weapon" owners have complied with the CA law banning the possession of such firearms, which is to say that 85% have been made felons. Why hasn't California enforced these anti-Constitutional laws? Mainly because those possessing these now-illegal weapons are police and military, retired and current. The Democratic utopia show seems to be hitting a wall in Virginia. Thousands are gathering to oppose the Leftist legislators. Disobedient sheriffs are organizing militias. Several Leftist cities have declared themselves "sanctuary cities" where immigrants without any paperwork can go and live and get government checks. Socialists are actively denying the presidency. The collectivists get oceans of lemming votes, sure. Dependent personality types are always going to vote themselves a check. They vote Leftist so that the hog-feeders are full of government slop.
