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banking, banks, banksters, Deutsche Bank, Economic collapse, economic meltdown, financial collapse, global economy, other

I’m in Awe at How Fast Deutsche Bank is Coming Unglued

Wolf Richter wrote an article yesterday titled:

I’m in Awe at How Fast Deutsche Bank is Coming Unglued

He warns: “Deutsche Bank – “the most important net contributor to systemic risks,” as the IMF put it last week after a lag of several years – is having a rough time. Shares dropped 4.2% today to close at a new three-decade low of €11.63, down 48% since July 31 last year, lower even than the low during the doom-and-gloom days of the euro debt crisis and the Global Financial Crisis.

It’s not the only European bank in trouble. Credit Suisse dropped 1.7% today to CHF 9.92, another multi-decade low, down 63% since July 31. Other European banks are getting mauled too. The European Stoxx 600 banking index dropped 3% today to 117.69, approaching the Financial Crisis low of March 2009….”

I think his main point is that not only is Deutsche Bank (once the world’s biggest bank, already down now to #7 in assets) crashing and failing and in need of a bailout – but that this relatively well run and conservative German bank is just a precursor to many more bank failures not yet brought to our attention.

Note some of Richter’s first words: “systemic risks.”  Also think: interconnectivity, contagion, and global economic meltdown.  I’m still expecting economic collapse, and many other horrific problems, in the months preceding postponed/cancelled US elections

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About David Montaigne

Historian, investigator, and author of prophecy books like End Times and 2019, and Antichrist 2016-2019

Discussion

One thought on “I’m in Awe at How Fast Deutsche Bank is Coming Unglued

  1. Infinite growth with finite resources and 7 Billion people. It don’t work. It can’t work and it never will. It’s a recipe for a disaster of proportions beyond anyone’s comprehension and it’s unfolding as I write. Nothing can stop it. It doesn’t matter what economic mumbo jumbo you apply to the problem. It’s a fundamental truth. Nothing solves the problem except a lot of people dying (as in Billions). And as I write this in Australia the Liberal party continues to drone on about more growth and jobs. What a joke. We are not smarter than yeast.

    Posted by Michael | July 11, 2016, 2:29 am

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