[youtube https://www.youtube.com/watch?v=9PcBGZNjYMo&w=854&h=480]
Deutsche Bank has already announced about 200 bank branch closures in Germany. We know they offered extremely high interest rates on new deposits some months ago, hinting that interbank lending to them had ceased – that their fellow large banks were unwilling to keep loaning money to them through normal channels. Their stock price has already collapsed 90% off its highs. Deutsche Bank seems to be insolvent – and if the pillar of conservative German banking is going down, interconnectivity assures a lot of collateral damage to the rest of the global banking system, as the whole greedy mess has ignored risk and chased higher returns for too many years.
I keep saying – expect financial collapse soon. Banking, stock markets, governments, societies, and life as you know it – could be gone even before November “elections” in the United States. Deutsche Bank probably has trillions in direct liabilities and quadrillions in derivatives that will unwind in chaos. It will affect the rest of the world. There will be blood.
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