Deutche Bank Collapse Immanent
The end is not near; the end is here!
The Deutche Bank fiasco which hit the mainstream last Thursday. The United States Department of Justice imposed of a 14 Billion Dollar fine for their fraudulent activity in which they falsely represented derivatives of mortgage backed securities.
This was only about 7 years overdue, nonetheless the fine has finally been levied. This caused DB shares to hit all-time lows. The bank's U.S.-listed shares fell 6.67 percent, and dropped as much as 9.02 percent to $11.19, an all-time intraday low.
German Media Says Merkel Can Not Afford To Bail Out Deutsche Bank
On Friday there was a rumor which for the moment seemed to fix Deutche Bank. The stock price recovered all of the previous day’s losses and then some. A press release, bases on a post made on Twitter claimed that the US had agreed to accept 4 billion dollars rather than imposing the total 14 billion dollar fine. Folks, the truth is that any negotiations between the US and DB are not scheduled to take place until the coming week. Yet and still the world was again bamboozled by something as simple as a tweet. Really!? Yes, REALLY!
It has been confirmed that this was a lie, which served to simply hold off the imminent collapse. But trust me, it's coming and it's coming fast.
So, yesterday, October 1st it was confirmed that this was only a rumour. Now to add insult to injury:
Deutsche Bank Charged by Italy for Market Manipulation, Creating False Accounts (sounds familiar i.e.; Wells Fargo)
The basis for the legal action are two deals conducted by Deutsche Bank and Nomura which took place at the height of the financial crisis, meant to mask Monte Paschi's financial woes. Prosecutors have been reconstructing how Monte Paschi’s former managers misrepresented the lender’s finances in the years through the two deals signed with Deutsche Bank in 2008 and Nomura in 2009. The investigation revealed Monte Paschi arranged the transactions to hide billions in losses that led to false accounting between 2008 and 2012, according to a prosecutors’ statement released Jan. 14, when they completed the investigation.
(Above paragraph sourced from Tyler Durden; Zerohedge)
Furthermore...
Deutsche Bank has suffered another blow to its image over the weekend with yet another "IT outage" on Saturday, this prevented customers from getting access to their cash through ATMs which told them that "This transaction has been blocked"!
So with the news release of several Officers of Deutche Bank being charges with fraud, regarding the mess with Italy and now a confidence crisis looming I would be willing to venture a guess that Deutche Bank will not make it through the month without a bail in. Yes, that means that anyone with money in this failing bank stands to lose much if not all of their savings; all for the good of keeping the bank afloat for a short time longer. I highly suggest that anyone with assets tied up in Deutche Bank remove these funds now, before it’s too late.
As Jeff Berwick has been saying, this is a period of washing away. The last day of the Shemitah Jubilee Year is today, it has fallen on a weekend. As Predicted, Deutsche Bank Is Failing, ATMs Go Dark on Jubilee End Day. The Dollar Vigilante does it again!
It’s going to be a very interesting week ahead. Stay safe and may God bless us all!