Almost as soon as German Chancellor Olaf Schulz said, “The banking system is stable in Europe – Generally, I think we are in good shape,” shares of German-based Deutsche Bank began dropping.
After a Friday loss of 14%, the bank came back to close -9.8%, and on the heels of the Credit Suisse collapse and subsequent purchase, concerns are still reverberating.
BRUSSELS (AP) — European Union leaders Friday played down the risk of a banking crisis developing from recent global financial turbulence and hitting the economy even harder than the energy crunch tied to Russia’s war in Ukraine.
After a meeting in Brussels, the EU government heads said lenders in Europe are generally in sound health and in a position to weather a combination of rising interest rates and slowing economic growth.
“The banking system is stable in Europe,” German Chancellor Olaf Scholz told reporters after the summit. Dutch Prime Minister Mark Rutte said: “Generally, I think we are in good shape.”
The EU deliberations came in the wake of U.S. regulators’ shutdown of two U.S. banks, including Silicon Valley Bank, and a Swiss-orchestrated takeover of troubled lender Credit Suisse by rival UBS.
The emergency actions on both sides of the Atlantic revived memories of the 2008 global financial meltdown and the ensuing EU sovereign debt crisis, which almost broke apart the euro currency now shared by 20 European countries.
In a sign of market jitters in Europe, shares of Deutsche Bank, Germany’s largest lender, fell as much as 14% in Frankfurt on Friday. The drop, which dragged down the stocks of other European lenders, followed a steep rise in the cost of financial derivatives known as credit default swaps that insure bondholders against the bank defaulting on its debts.
Scholz dismissed the idea of basic weaknesses at Deutsche Bank, saying it has become “very profitable” after modernizing its business. “There is no reason to have any concerns,” he said. (read more)
The German bank has lost about a fifth of its market value this month. Other European banks were also down at closing, including Deutsche Bank German rival Commerzbank, which was down 9%. Credit Suisse and its new parent company, Barclays and Societe Generale were all down over 6% on Friday.
Nothing to see here. Move along now…..move along…..
With war with Russia and now Iran seemingly closing in and a not reassuring banking wobble, which one splats first?
I guess it depends on your meaning of “stable “and in “good shape”. The same was said of credit suisse. And if you were a shareholder of CS you received $1.00 per share recently from UBS.Price range from 2022 to Feb of 2023 was $3 to $9.00. Many bondholders also got back little $. And no, I never owned either. Pray and help others
Das ist nicht gut!
I took German, too! 🙂
I didn’t!
Lived there for five years though, osmosis, ya know?
I learned it the same way.
I actually sorta avoided learning it, I was still messing with my French skills, but you can’t live in a country and not learn quite a bit even if it’s sorta involuntarily.
Where were you stationed?
Polititians reflecting on the bank situation …
.
.
Good one!!! Quite accurate, I’d say! ROFLOL!!!
IF the Politicians had a SMIDGEON of the Brightness of Wile E. Coyote!
When a politician says “the banking system is stable” it’s like someone telling you your spouse isn’t cheating on you. Whether valid or not,suspicions arise. It’s human nature.
And your next steps are to prepare and protect yourself from harm. Again human nature.
In banking terms, no matter the country or the amount of money, the solution is to lower your deposit amount/move your deposits to a safer institution/asset. There are “other fish in the sea” in finances too.
All these bank financial models assume the depositor will leave their funds in a bank. And yet, that is not reality.
Bank runs are real.
And in this environment, people and companies do not want to leave assets in banks where other depositors may exit.
A possible unintended consequence of western economic idiocy (BBB/GND) is the inability to execute the plan for CBDCs due to massive blowback and mistrust of central bankers. There’s a concerted effort in the west to cause panic, and in this country, an effort to centralize economic power with the “too big to fail” banks. (Good segment about this today on Charles Payne’s show). All people have to do is say they’re not playing the game.
That’s what I’m not fathoming…..couldn’t they see it coming? We all saw it and we re the plebs they think need culling.
Marcus, simple. Plebs in all societies, have to use their brains and skills, to live and just get around. These idiots, and their ilk are don’t have a clue. They are coddled from morning to night. Only thing they do is have meetings all day to plan and plot. They don’t really know HOW to DO anything, unlike our president, DJT!!!
They’re idiots!
And they’re demonic as well.
We LEARN what not to do, from our MISTAKES, and the pain we endure as a result of our MISTAKES.
But, if you are priviledged (actually means “private law” as in one rule for everyone else, no rule for ME) you quite naturally use your wealth and influence, to shield you and yours, from the “pain”; the unpleasant consequences of your actions, hence you DON’T LEARN.
Of COARSE they are IDIOTS, how could it be otherwise?
Agree they are Demonic, or demon possessed, as well.
I don’t think it’s an “unintended consequence of western economic idiocy”. I think the globalists intend this economic idiocy as the means to their effort to centralize economic power. The only unexpected consequence is the blowback by depositors and we the people.
And so it begins.
Jim Cramer is the new financial weatherman, whatever he says, do the opposite:
It’s almost as if, but you know it could never be possible, he’s being paid behind the scenes to keep up selling the failing fools.
Nah, couldn’t be the case.
This is the part I’m not getting. The deliberate contraction of western economies through energy policy in service to climate change I get but surely these “geniuses” knew it would impact the very financial institutions in on this. Are they thinking they come out as the winners by killing the smaller banks? I’m not seeing it.
They want to crush all small- and medium-sized banks, and coalesce the handful of big banks into one, single, federally-controlled bank that they control.
Make Hamilton’s First Bank of the United States Great Again!
THAT is the Sheer Genius of the Law of Harvest.
They WILL get what they put into their “farming” efforts, from the Seeds they’ve sown, to all the Tending they do of their own Chosen Crop – From THIS will they get their Yield.
Luke Ellis, CEO of the largest publicly-traded hedge fund, Man Group, has warned that the turmoil following the collapse of Silicon Valley Bank is not over yet. He predicts that a number of banks will collapse in the next two years.
https://rumble.com/v2ei8o8-hedge-fund-boss-large-number-of-banks-will-collapse-within-2-years.html
https://rairfoundation.com/hedge-fund-boss-large-number-of-banks-will-collapse-within-2-years/
Banking system is Okay it’s the money that’s no good.
Well, no. The $ is no good, and the Banking system is no good, as well.
14+ YEARS ago, they instituted Worldwide (even China) drastic and unprecedented measures to prevent a collaps of the system.
While the priviledged used their influence to protect themselves, as they always do,…I do NOT believe it was intentional or planned.
Once they had “stabilised” the system, they realised ALL they had done, and could do, was “keep the patient ‘alive’ by keeping it on life support.”
There was and is NOTHING they could do, to restore the ‘patient’ to good health,so that they could disconnect the life support, without killing the patient.
Which is why they kept ,-0- interest and quantitative easing, for FOURTEEN YEARS after the “financial crises”.
And now they have come up with the idea of CBDC’s as their only “solution”; it doesn’t actually SOLVE the problem, really but it gives them enough control that the patient can die, without anyone knowing.
At least, I THINK that is what’s going on.
I certainly don’t have all the answers, but,
it seems to me that if one wanted to buy, say, RX’s from India, (because these were too expensive here and Insurance would not cover,
Or, if one wanted to make a possible financial agreement with say someone in Mexico,
It seems to me like BTC might work better than CBDC !!!
Right ???
Olaf Shulz is the Janet Yellen of Jerome Powells.
Olaf is an idiot! Germany had the deal of the century with Russia providing incredibly cheap natural gas to manufacturers of Mercedes Benz, BMW, Porsche and Audi not to mention industrial giants like Krupps. Russia has been the best friend Germany ever had. The combination of Russian oil, natural gas and raw materials with German industrial might, engineering and technology was destroyed by Biden, Sullivan and Nuland. It was certainly not in the best interest of the German people!
The best line I heard to describe the situation is that if you are a NATO member you accept DC’s foreign policy and decisions of the neocon war machine.
So, Germany saved billions or even trillions over the years in their defense budget via NATO, and gave up their sovereignty in return.
They chose that bargain. I have no regrets for them, I have regret that DC for decades now has been at least as big a force for evil as, say, Iran. And it’s getting worse.
“DC for decades now has been at least as big a force for evil as, say, Iran.”
DC has been for decades the BIGGEST force for evil, far more than any other country in the world. Who do you think is funding and sending weapons to those terrorists in Iran and Syria? The US. And on top of that, we have put so many sanctions on Syria and Iran that they have a hard time getting rid of them. The new alliances with Saudi Arabia have shifted the balance of power in the whole middle east and will work to circumvent the sanctions of the US to allow these countries to emerge finally as free and independent states, no matter that they refuse to bow to the United States.
The biggest eye-opener for me was finding out that the US had funded the terrorists in Dagestan in an attempt to separate it from Russia. CIA Counterterrorism boss said that they funded the terrorists to destroy what was left of Russia in 1999. LOL! That is the event that led Yeltsin to turn the leadership over to an unknown and inexperienced bureaucrat named Vladimir Putin.
BECAUSE – Deutsche Bank was Connected to Dirty Deals with JP Morgan who took two different NASTY Falls in the last two days, and one was directly connected to the Deutsche Bank – On JEFFREY EPSTEIN!
“JP MORGAN & DEUTSCHE BANK KNOWINGLY PROFITED from TIES to JEFFREY EPSTEIN
Brad Edwards, the attorney representing Jeffrey Epstein Victims said the Epstein Sex Trafficking Operation would have been “IMPOSSIBLE without the assistance of JP MORGAN and Deutsche Bank.” ”
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
● https://www.businessinsider.com/jpmorgans-nickel-bags-turned-out-to-filled-with-stones-2023-3
March 20, 2023
“JPMorgan Chase thought it had $1.3 Million worth of nickel stored in warehouse. A Closer examination revealed bags of stones.”
……………………………….
THESE TWO SITUATIONS were taken note of, by People who do research on issues that Julie Green has prophesied about in the past – and on Fridays, she has begun covering as much about what people have found in the News about those issues as she can.
TODAY, I’m barely under the wire, Friday March 24, 2023, Julie did a video this morning on a recent batch of the research, though a lot of the incidents were seen in 2022,, but the findings on them are recent.
https://rumble.com/v2ef3jq-03.-24.23-many-prophecies-fulfilled-president-trump-russia-china-jp-morgan-.html
JULIE GREEN MINISTRIES
03. 24.23 MANY PROPHECIES FULFILLED: PRESIDENT TRUMP, RUSSIA, CHINA, JP MORGAN EARTHQUAKES AND MORE
The News about WEAKNESS on The Deutsche Bank came at close to the SAME TIME as these two Items on JP MORGAN, in which Deutsche is Vitally Connected in the Jeffrey Epstein Situation.
From the above comments: “Brad Edwards, the attorney representing Jeffrey Epstein Victims said the Epstein Sex Trafficking Operation would have been “IMPOSSIBLE without the assistance of JP MORGAN and Deutsche Bank.”
The Office of the Comptroller of the Currency’s Quarterly Report on Bank Trading and Derivatives Activity for Q4 2022 should be out within the next very few days. It should show up at this link if you put it on a tab and refresh it everyday until the report is posted.
https://www.occ.gov/publications-and-resources/publications/quarterly-report-on-bank-trading-and-derivatives-activities/index-quarterly-report-on-bank-trading-and-derivatives-activities.html
I have one request. When Goldman Sachs goes bust this time, could they please be allowed to fail? Goldman Sachs Bank US, with a grand total of 3 full service brick and mortar locations, is FDIC insured and stuffed full of derivatives.
It was once said of Prussia that it was an army with a state.
Present day Germany is in fact a bank with a state.
That bank is Deutsche Bank.
Without going into too much detail, the propping up of DB by the German state in order to hold on to the German (soft power) Empire at the expense of the Club Med countries is nothing short of a financial nuclear bomb going off in super slow motion. The devastation can be seen in the youth unemployment numbers of countries like Greece, Spain and Portugal.
A big part of the 2008 Financial Crisis was AIG bailing out the European banks using US bailout funds. It’s the story that is not being written and not discussed and one of the biggest secrets in the financial sector.
The metric to watch is the Target2 imbalances, whereby Germany is owed somewhere north of 1.2t Euros from the rest of Euroland. In turn the European Central Bank is funded with only 8b Euros. The Central Banks of the countries using the Euro are on the hook for any of the shortfall.
As soon as any one of the countries using the Euro currencies leaves the single currency and returns to a national currency, along with the renomination devaluation by say 40%, it will bankrupt the Euro system. And we will have a financial disaster the likes the world has never seen.
The likely candidate for the Euro detonation is Italy. Hence the two color revolutions, one against Berlusconi in 2011 and the next one against Salvini in 2019. Salvini turned out to be the RdS of Italy, but he inadvertantly gave us Giogia Meloni!
Anyways, it’s only a matter of time until the Italians tap out.
End of rant.
PS Russia is nothing short of a German proxy. Russia, with an economy the size of Spain can only support the 2nd biggest army, navy and air force in the world with German funding. Germany in turn uses Russian aggression to keep the former Soviet states scared and in line with the interests of Germany, while taking the underpriced oil and gas to get a competitive edge against its commercial competition (Japan, US, Korea).
OK now rant is really over…
But, Russia doesn’t NEED euros from Germany, they have shifted to India and China as markets for their products.
And, Russia produces more than just oil: for instance platinum/palladium, necessary for catayctic converters, for those gas guzzling cars the west will supposedly eliminate (in 50 years) ,..
The short answer is that other countries also have those same resources. And in the world of geopolitics, resources are a secondary consideration.
What matters is power. (If you have power, you can keep your resources. If you lose it, others that are stronger will come and take them.)
So in order to be a super power (imperial ambitions – what Russia in fact is trying to maintain), the country needs to be feared.
That’s why it maintains the massive German funded military.
What Russia was able to provide, pre Ukraine invasion was “security” to itself and also project security to its client states (whether overt like to Armenia, or covert like to Germany and France). It was able to provide this due to its military (security guantees) and its arms industry (weapons sales) and it’s belligerant posture toward Nato’s Eastern flank. Kept those uppity Eastern Europeans in line so that the Germans and French could focus on building their United States of Europe.
However, the massive mistake Putin made was not that he invaded Ukraine, but that he got his ass handed to him outside of Kiev. (We now know that Russians had a 12 to 1 advantage in manpower on the Kiev front.)
If he would have captured Kiev (like everyone in the US MoD and State thought on 24 FEb of last year), he would have his army on the borders of the Baltic States, Poland, Czech Rep and Romania. He could have dictated terms to US to leave Europe, since he knew the US was not going to send troops if he invaded say Lithania. The Germans and French were on board. This is the reason for the Germans and French posture last year, i.e. to try and find a way in which Ukraine would agree to any kind of peace deal as soon as possible. (Minsk III anyone?)This would have saved Putins chestnuts, allow him to regroup his forces and make another push. (Once Putin invaded, he was all in. No going back)
But Zelinsky f-ed up the plan because he didn’t want to form a government in exile in the week leading up to the war (as the US State Dept was advising him) and returned to Kiev from the Munich Conference.
This was the famous “I need bullets, not a ride” line.
What else happened = due to the Trump administrations/Ukraine military’s brilliant strategy (thank you Wess Mitchell) the Ukrainians were ready for the Russian invasion. And here (according to people from the Patomac Foundation) the Javelins that President Trump sent to Ukraine in 2017, which he caught holy hell for from the likes of “Mad Dog Mattis” were allowed out of storage and make their way to the front. Once the Ukrainians stopped the 40 mile convoy with those Javelins, they caught their second breath and as they say, the rest is history.
Which brings me back to today. Russia’s performance in the war has demonstrated to the world that not only is their military shit, but that the weapons it sells to its client states are even bigger shit. (India is already terminating orders and deliveries.)
If Russia can’t come out of Ukraine with a win and get its funding source (Germany back on line) and build it’s Eurasian economic area from Vladivostok to Lisbon with the Germans and French, it becomes left to the mercy of China. And just in case you might not know, Chinese still have an old matter of Outer Manchuria to settle with the Russians. As a matter of fact, it is being reported that the Chinese are beginning to change the name of Vladivostok on their maps to Hǎishēnwǎi.
Hell, by the time this is over, the Russians could just trade Vladivostok to the Chinese for a couple boxes of ammo.
I will leave off on that cheerful note.
A good example of the German-French-Russian coop agreement (informal) at work.
What is important to understand, is that the French and Germans want to get the US out of Europe and they don’t care if it is the Russians or the Chinese who provide military capacity of the security architecture for the new United States of Europe.
Thank you for this information; it sure makes a ton of sense.
They all must go to the same school, where they learn this.
Two different times, I worked for companies that were “going under”.
Every employee KNEW, cause you really can’t hide it from the people actually producing the product.
Every day, we expected to come to work, and see a padlock on the door, and court papers posted.
Finally the boss stopped all work, for a “Company meeting” where he aknowledged that the company had been going thru a “rough patch” but that it would be ,”smooth sailing from here on out”, and of coarse the next morning, the long anticipated padlock and court papers were on the door, when we arrived for work.
They must TEACH this, in some management seminar, or something.
Same wording mitigating yahdah yahdah households, etc.
All in the yellow countries.
It’s not the market cap that’s a concern, it’s the deposit base. And that’s running.
I reviewed Dodd Frank and was reminded derivative holders come before unsecured depositors (over $250k). Dodd Frank allows the Banks to absorb these unsecured deposits for shares of stock (capital needs)
How do countries accelerate into CBDC?
Harm banks and depositors there.
Rampant inflation, bank failures, government bailouts, failed policies driven by globalist agenda, gross mismanagement of monetary policy, fiat currencies, a money laundering meat grinding war and the worlds nations picking one of two agendas. We are on the verge of economic doom if we continue down this pathway. Prepare yourselves wisely.
Just want to point out the Chancellor could be Delaware Senator Chris Coons twin brother. Ears, nose, hairline, etc. It’s super uncanny.
Beginning to look like the death rattle of the Build Back Better nations. Unfortunately, they will take us with them over the cliff.
The next argument you will hear is IF the central banks had CENTRAL BANK DIGITAL CURRENCIES there would not be a need to have these emergency facilities.
The system would be “frictionless”.
That is until they decide you don’t need access to your property. Then they would demonstrate the true meaning of friction.
Define “stable and in good shape”
“As long as it takes”
“The banking system is stable”
“We are committed to democratic values”
“Inflation is transitory”
Somewhere in Davos there is a dumpster brimming with empty boxes which all read:
Pull the String and Hear Me Talk!
It wasn’t 10% for the Big Guy was it?
DB and CS are not minor league players on the world financial stage. Quite the contrary. Both are giants … what in this country are called “too big to fail.” Everyone here should take these as warning shots across the bow. It’s the big boys that must perish in order to clear the way for government issued and administered digital currencies.
The fear of the leaders in Europe and East Asia is that the current financial crisis could turn into the sovereign debt crisis that Ed Dowd has been predicting. Such a crisis occurred in Ireland during the last financial crisis. Here are the steps that caused it:
As of a few days ago, Deutsche Bank was rumoured to be the next big bank to be in trouble.
I drove past the most established and respected bank ( in our area) a few days ago. On its electronic marquee, in huge letters, it said “HERE TODAY. HERE TOMORROW”
I thought, wow! they’re worried if they have to advertise it.
Remember Dodd Frank was to solve the taxpayer taking the hit?
All deposits over $250k are unsecured and would be turned into bank stock to meet capital requirements!!
Remove the “l” from the Kanzler’s first name, it would be more fitting. 😁
Meanwhile
FEDNOW
Another Freedom lost.