by Jeff Berwick, The Dollar Vigilante:
On Friday, Deutsche Bank’s stock (DB:NYSE) rose 14% on rumors that it had negotiated a settlement with the US Department of Justice’s demand for $15 billion (which is the entire market capitalization of Deutsche Bank) down to $5.6 billion (which would still decimate Deutsche Bank).
Well, it turns out that rumor was completely unsubstantiated.
There is no settlement. And it’s just amazing that the US Dept. of Justice, knowing that Deutsche Bank’s failure would rip the heart out of the European banking industry, is pushing ahead with their demands anyway.
In its last months the Obama administration is showing its true colors more clearly than ever. It is nothing but an appendage of London’s City and the plan continues to be to sink the European and world economy ASAP.
We’ve predicted this in the past, specifically mentioning the trigger could be Deutsche Bank.
There’s no doubt banking elites continue to intend to undermine what’s left of the solvency of the world. Fortunately, we track these issues on an ongoing basis via Shemitah Trends. This has provided us extraordinary insights into what’s happening today and what’s going to happen tomorrow.
It’s now being reported by the Frankfurter Allegemeine Zeitung, a German newspaper, that DB executives are US-bound in the coming days to negotiate the widely talked about $14 billion settlement over residential mortgage backed securities.
However, the FAZ didn’t cite any sources for this information and DB failed to respond immediately, according to Zero Hedge, in regard to their chief executive, John Cryan’s travel plans. Which is a pretty clear indication that the $5.6 Billion settlement number “obtained from twitter” is a total fabrication.
This makes perfect sense. None of this is supposed to be settled anytime soon. The idea is to make the global economic infrastructure tremble. The worse it gets, the easier it becomes to install a truly globalized economy.
So if you are expecting the problems to slow or even cease, don’t get your hopes up. Just when you thought it couldn’t get any worse for Deutsche, it’s looking to be like Wells Fargo 2.0. The grim news will continue throughout next week, and it won’t be getting any better.
Bloomberg, for instance, just reported that six former and current DB managers were charged in Milan for conspiring to manipulate the market and to falsify the accounts of Italy’s third largest bank; Monte de Paschi – which in and of itself is on the brink of insolvency.
Because of the way Italian laws work, Deutsche bank is in even hotter water: They can’t defer blame to underling employees the way Wells Fargo did.
And now, on Sunday, it was reported by Bild, a german tabloid, that Deutsche Bank clients have been locked out of removing cash from their accounts at ATMs.
Having this occur on the exact end day of the Jubilee Year, with Deutsche Bank clients locked out of their accounts, is amazing to see. (We would be truly astonished, if we hadn’t anticipated just this sort of scenario.)
Banks are closed in Germany on Monday so we’ll have to wait until Tuesday to see what happens to Deutsche Bank… whether their clients regain access to their funds and/or if Deutsche Bank itself collapses.
If Deutsche Bank does collapse this weekend, then it will very, very quickly be game over for the entire Western financial system. If it were to collapse and Merkel has already said there will be no bailout, it would set off a 2008-esque Lehman Brothers event…. Except this time, much, much bigger and worse.
If Deutsche Bank collapses this weekend we could see all Western banks close as the entire system melts down.
This is a very real possibility. If you haven’t begun to buy gold, silver and bitcoin as partial protection you should be doing that immediately. And we suggest having at least one month (although six months is better) of cash on hand in case of bank closures. Even Angela Merkel warned Germans last month to have at least 10 days of food, water and cash on hand. Was this the reason why?
We received a flood of new German subscribers on Friday – mostly because it is obvious we understand what’s going on and have already made predictions on actions to take. But please don’t wait until the last day before your bank and ATM shut down. Please do something to protect yourself NOW. We can’t do anything but write about it, and offer our advice. But YOU can act today.