Josh Sigurdson reports on the latest news out of Deutsche Bank as the bank suffers its worst Q2 since the financial crisis.
We have previously reported on Deutsche Bank looking to lay off 10,000 employees as well as being downgraded by the S&P from A- to BBB+. We’ve also talked about their failure to pass the Fed’s stress test, the shocking derivative exposure they hold and their constant need to rig markets including gold and silver. We’ve also talked about their attempt for a merger between them and Commerzbank.
The truth is, all the banks are insolvent right now and Deutsche Bank’s actually doing better than a lot of them when it comes to cash to deposit ratio, which says a lot. However, Deutsche Bank due its size and quickly falling share price will very likely be the first domino to fall in a domino effect of great magnitude as the banking system crumbles at the seams.
We still see the silly bankers claiming that we are seeing a recovery. An obvious desperate attempt to make the public feel at ease. The problem is, the vast public depends on the banking system and government for all their needs, all their debt, all their pension schemes. Well, this is going to lead to a lot of impoverished people. If they shove you down a bottomless pit of debt, you are forced to ask for a ladder up from the government and banking system, and you know what that makes you. A willing puppet. That’s right where they want you.
There are ways to get around this however. One must be independent, financially educated and responsible and decentralized. Individuals must stand outside of the collectivist paradigm and rule themselves. This banking crashing will not be pretty, but there is no shortage of solutions.
Stay tuned as we continue to cover this story.