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May 2016: Will Deutsche Bank Survive This Wave Of Trouble Or Will It Be The Next Lehman Brothers?

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Euro Question - Public DomainIf you have been waiting for “the next Lehman Brothers moment” which will cause the global financial system to descend into a state of mass panic, you might want to keep a close eye on German banking giant Deutsche Bank.  It is approximately three times larger than Lehman Brothers was, and if the most important bank in the strongest economy in Europe were to implode, it would instantly send shockwaves rippling across the entire planet.  Those that follow my work regularly know that I started sounding the alarm about Deutsche Bank beginning last September.  Since that time, the bad news from Deutsche Bank has not stopped pouring in.  They announced a loss of 6.8 billion euros for 2015, Moody’s just downgraded their debt to two levels above junk status, and they have been plagued by scandal after scandal.  In recent months they have gotten into trouble for trying to rig precious metal prices, for committing “equity trading fraud” and for their dealings in mortgage-backed securities.  The following comes from Zero Hedge

A month after admitting to rigging precious metals markets, Deutsche Bank has been hit with a double-whammy of more alleged fraudulent behavior today and the stock is sliding. First, Reuters reports that the bank took a charge of 450 million euros for “equity trading fraud,” and then Bloomberg reports that The SEC is looking into Deutsche’s post-crisis mortgage positions.

This is a bank that is steadily bleeding money, and so the last thing that it needs is for government agencies to be putting immense pressure on it.  Unfortunately for Deutsche Bank, the SEC seems determined to kick it while it is down

Troubled Wall Street giant Deutsche Bank is under another investigation, this time by the Securities and Exchange Commission regarding the pricing and reporting of certain mortgage-backed securities.

The SEC wants to know whether the Frankfurt, Germany-based bank artificially raised the value of mortgage-backed securities in 2013 and later hid those losses for an extended period of time, Bloomberg first reported, citing people familiar with the matter.

But even if there were no scandals and no government investigations, the truth is that Deutsche Bank would be a deeply troubled bank anyway.

At one point, it was estimated that Deutsche Bank had 64 trillion dollars worth of exposure to derivatives contracts.  That is an amount of money that is approximately 16 times the size of the GDP of the entire nation of Germany.

So nobody wants to see Deutsche Bank fail.  It would be a financial disaster unlike anything the world has ever experienced before.

But right now things are not looking good.  As you can see from this chart, the steady decline of Deutsche Bank’s stock price is eerily similar to what happened to Lehman Brothers during the months leading up to the time when it finally completely collapsed…

Deutsche Bank Lehman Brothers - Zero Hedge

Earlier this year, Deutsche Bank’s stock price set a new record low, and since that time it has been hovering just above that record low.

Clearly it is no secret that Deutsche Bank is having big problems, and the outlook for the immediate future is not good.  I included the following quote from Berenberg analyst James Chappell in a previous article, but I think that it bears repeating…

Too many problems still: The biggest problem is that DBK has too much leverage. On our measures, we believe DBK is still over 40x levered. DBK can either reduce assets or increase capital to rectify this. On the first path, the markets do not exist in the size nor pricing to enable it to follow this route. Going down the second path also seems impossible at the moment, as the profitability of the core business is under pressure. Seeking outside capital is also likely to be difficult as management would likely find it hard to offer any type of return on new capital invested.

In the end, I believe that Deutsche Bank will ultimately implode, but it won’t be the only one.

Meanwhile, we just got some more very disturbing news out of Asia.  According to Bloomberg, Japanese exports have now fallen for seven months in a row…

Japan’s exports fell for a seventh consecutive month in April as the yen strengthened, underscoring the growing challenges to Prime Minister Shinzo Abe’s efforts to revive economic growth.

Overseas shipments declined 10.1 percent in April from a year earlier, the Ministry of Finance said on Monday. The median estimate of economists surveyed by Bloomberg was for a 9.9 percent drop. Imports fell 23.3 percent, leaving a trade surplus of 823.5 billion yen ($7.5 billion), the highest since March 2010.

When your imports are 23 percent lower than they were a year earlier, that is a clear sign that consumer demand is way, way down and that your economy is in the process of imploding.

So I will repeat what I have said a number of times before…

Watch Germany and watch Japan.

I believe that they are going to be two of the biggest stories as this new global financial crisis begins to play out.

*About the author: Michael Snyder is the founder and publisher of The Economic Collapse Blog. Michael’s controversial new book about Bible prophecy entitled “The Rapture Verdict” is available in paperback and for the Kindle on Amazon.com.*

  • Kim

    Deutsche Bank is insolvent, open about its fraud and it should be forced into liquidation immediately.

    Now I will go read this excellent article.

    :-))

    • Jessy Scholl

      And you completely summed up this article in just one sentence.

      God bless Michael for allowing me to waste a few minutes of my time.

      • Kim

        Is he your boss or something?

        • Jessy Scholl

          No he isn’t.

    • socalbeachdude

      Deutsche Bank is FULLY SOLVENT, contrary to you totally bogus assertions to the contrary.

    • Guest

      It is also being sued for its involvement in the LIBOR scandal.

  • MaxRockatansky33

    Bringing another one million of Syrian refugees into Germany will make things even worse. Economy of Germany is already stressed because extra 1000 000 persons are on Welfare. And German society is ageing very rapidly. Most of young are foreigners which are not so happy to work. More spending less earnings. Enginered social collapse by design. Or simply pure stupidity as a result of leftist liberal policy and politics.

    • Jessy Scholl

      Part of it is by design, no doubt. But the other part is pure stupidity thanks to that nut in the White House.

    • greyprepper

      That was my first thought. Their little immigration problem will only exacerbate their problems. With all of those jawas running around unchecked, there’s a lot of potential for some kind of Black Swan event that could escalate their fragile situation.

    • JC Teecher

      The refugees/Muslims don’t have to work.
      As soon as they are documented into a country, they receive “refugee status” from the U.N./nwo.

      They will then receive a monthly stipen via the workers of the prosperous nations. If i remember correctly, the USA pays 25% of all money received by the UN.

      On the Palestinian issue…
      According to an article by the Heritage Foundation …..

      “As of July 1, 2014, UNRWA reported a staff of 30,252 to support 5.49 million persons (5.09 million “registered refugees” and 398,229 “other registered persons”) in Jordan, Lebanon, Syria, the West Bank, and Gaza Strip…”

      It won’t be long before the monthly stipens start flowing to the Syrian??? refugees as well.

      For the ones coming to America, it is like hitting the lottery. The Catholic based organizations In USA have the honor of distributing all the aid available to them.

      All the while…US American Citizen Veterans get the short end of the proverbial stick, and get it rammed up the waa-zoo until they decide they can’t handle it any more and just …tap out. Sad, sad, sad!

  • rat28

    Stop the scaremongering.. Do you think the German govt will allow their biggest bank to fail? Germany is rich enough to bailout any German banks

    • All_has_An _END_.

      A bailout will not help. You cant print your way out
      The elites know a reset is long due

      • socalbeachdude

        Reset what?

    • Believe

      Lol, didn’t you read the part where it said that their derivatives exposure is 16 times Germany’s GDP? Or, did you not read the article…?

      • socalbeachdude

        So what? That is the nominal face value of those derivatives and the actual amount of money involved is less than 1% of that face nominal amount. Not to mention that derivatives are a ZERO SUM GAME.

    • Brian

      You have forgotten about satanic elite who sold their soul 2 satan in exchange for absolute power and absolute control.The New World Order seeks a one wolrd government,one world religon and a one world currency.God help us all!

      • Orac4Prez

        What? Next you’ll be saying that Pope Paul is not THE leader of Christianity! To quote Obama, Pope Francis is “on the right side of history!” After all, he has just invited the Muslim leader into the Vatican, and said it would be good for Europe to embrace Islam so they can increase the birth rate in Europe. Those weren’t rapes you hear about in Europe. No, no…, just attempts by good Muslims to follow the pope’s “suggestion” about helping the low birth rate.

        • socalbeachdude

          What do any of your assertions have to do with the FINANCIAL WORLD which is what the discussion of this article is about and in particular the financial operations and condition of Germany’s largest and most important bank, Deutsche Bank?

      • socalbeachdude

        What complete and utter nonsense.

  • greanfinisher .

    When Deutsche Bank does go under, you can be sure that we will be waking up one Saturday morning with all of the financial institutions closed, and all of our savings, stocks, pensions and retirement plans raided.

    • Mike Smithy

      Deutsche Bank’s derivatives exposure is reputed to be several times larger than the GDP of the entire Eurozone. That being the case, with what kind of pixie dust will “the German government” bail it out? Or in?

      • greanfinisher .

        Oh, I think that the ECB and Federal Reserve will do whatever it takes to prop up Deutsche Bank. If they have to rob every single account and/or retirement plan in the world to accomplish that end, that’s exactly what they’ll do.

        • socalbeachdude

          The Federal Reserve’s only role regarding Deutsche Bank would be its US OPERATIONS and would have nothing whatsoever to do with the operations of Deutsche Bank outside the US and the US operations are performing very well.

          • greanfinisher .

            If Deutsche Bank was on the verge of collapse, all of the central banks would come to its aid if needed.

          • socalbeachdude

            Absolutely not. The only central bank that could legally become involved at all with the parent operations of Deutsche Bank in Germany would be the ECB. The Federal Reserve has nothing to do with Deutsche Bank other than to supervise its US operations which are totally separate and distinct from its parent operations.

          • Donald Reid

            socalbeachdude, I suggest that before you make ignorant statements such as saying that the Federal Reserve Bank will have no role in bailing out Deutsche Bank other than its US operations you research how many billions of dollars the Fed put up to rescue European banks after the 2007-2008 bubble burst.

          • socalbeachdude

            Absolutely false. The Federal Reserve had NOTHING WHATSOEVER to do with any “bailout” of European parent banks in 2007-2009. Nothing, nada, zip, and zilch. Where do you come up with such utterly clueless nonsense as you assert?

          • David

            You are way out of line a lot of money went to the off shore mega banks. Who do you think owns the FED

          • socalbeachdude

            Absolutely false. There were NO FOREIGN BANKS involved at all with the Federal Reserve. All banks who received any very short term funds were US BANKS and all banking operations in the US are US banks regardless of being owned by foreign parent corporations.

          • John Higson

            Can you imagine anyone who is LESS like a ‘Socalbeachdude’ than his banking shill? You are either the only person here who understands the world of finance or you are the world’s most obvious plant. Do you work out of a bunker in South Dakota with 30-60 different social media personas by any chance? We know these people exist, you are the best candidate ever to be one imho. You are the only person I KNOW who even attempts to defend the fed and banking establishment. I think your cover is blown….

          • ITSNOTWhatchaThink

            HIs points make good sense even if he doesn’t cite his sources.

          • socalbeachdude

            No, from a lovely home in California. The Federal Reserve is a SUPERB and very conservative central bank and the US banking system is the larges and best in the world with many fine professionals.

          • John Higson

            I think you’ll find that the largest and most powerful banking system resides in The City of London, the most parasitical city within a city with the sharpest and most venal professionals making the most immoral money anywhere in the world. New York and Washington and the federal reserve system? Amateurs!

          • socalbeachdude

            The banking operations, while significant in the UK and centered in London there, are dwarfed by the banking operations in the United States which are mostly centered in New York.

          • John Higson

            Simply and irrefutably wrong. You NEED to do some research, dude. Must suck to be so arrogant and yet so inexact…

          • socalbeachdude

            What is irrefutably wrong and false are your clueless assertions.

            Financial markets in the United States are the largest and most liquid in the world. In 2014, finance and insurance represented 7.0 percent (or $1.223 trillion) of U.S. gross domestic product.

            Banking: As of the end of 2015, the U.S. banking system had $15.967 trillion in assets. It supports the world’s largest economy with the greatest diversity in banking institutions and concentration of private credit. In 2015, net income was up 7.3 percent to $161.6 billion.

            Asset Management: The U.S. asset management subsector is unrivaled in its depth and diversity. U.S. asset managers are currently meeting the pension management needs of over 60 percent of the global retirement market. Total U.S. pension assets were $24.5 trillion at the end of 2015. Moreover, if insurance assets and mutual funds are included, U.S. asset managers held more than $51.1 trillion of long-term conventional assets under management in 2015, or 47.2 percent of the global total for these funds.

          • John Higson

            Yeeessssssss, these things are right out in the open, aren’t they? Where anybody can get their hands on the figures, and everybody TELLS THE TRUTH, don’t they?

            The City of London IS the centre of the financial world. Don’t believe me? Ask anyone actually in finance, that doesn’t have a red, white and blue erection for the US of A and how star spangled awesome it is! The City is the centre of the financial universe, it just doesn’t have to massage it’s own ego by broadcasting it to the world ALL THE TIME like the immature upstart that is Wall Street.

            You just keep telling yourself how big the US’s phallus ACTUALLY IS, who knows, in the end you may actually believe it! How’s that insecurity working out for you?

            And stop up-voting yourself! You look like a real Knob!

          • socalbeachdude

            All of the data and evidence totally contract your assertions regarding London and the UK being the center of the financial universe and the largest banking system in the world, and clearly support exactly the opposite that the US is the biggest financial system in the world by a huge margin over London and the UK just as I have very clearly stated with actual number and facts.

          • John Higson

            You just go ahead and believe EXACTLY what you want, won’t change the facts. London has been the centre of the financial universe for the last 200 years and barring nuclear annihilation will remain as such. Truth hurts, don’t it?

            AND STOP UPVOTING YOURSELF! SAD PERSON!

          • socalbeachdude

            London and the UK were eclips4ed by the US markets centered in New York more than half a century ago and with each passing decade the US markets just kept getting bigger and much further ahead of London and the UK. Those are the facts that I clearly pointed out to you with clear evidence and numbers and that’s just the way things are and will be for the foreseeable future. If the UK decides to exit the EU on June 23, 2016 then the more it will be marginalized to the periphery while the US and Germany jump even further ahead of the UK.

          • John Higson

            You just keep telling yourself that and the City will just keep on laundering the money…….

          • socalbeachdude

            The FEDERAL RESERVE IS OWNED BY ITS MEMBER BANKS SHAREHOLDERS as is clearly confirmed by the Federal Reserve.

            Who owns the Federal Reserve?

            The member banks of the Federal Reserve System own 100% of the shares of the Federal Reserve.

            As to the profits of the Federal Reserve, you must not be aware that it REBATES 100% OF ITS ANNUAL PROFITS TO THE US TREASURY after paying its member bank shareholders a modest annual 6% dividend.

            The Federal Reserve does not cost the US government and taxpayers a single penny and in facts is the LARGEST SINGLE PAYER OF REVENUES TO THE US GOVERNMENT each year.

            As to shareholders of the 7,000+ individual banks who are members of the Federal Reserve there are MANY MILLIONS OF PUBLIC SHAREHOLDERS of those banks – obviously.

          • Bill G Wilminton NC

            The two of you snotty and socalbeachdude support a central banking system that President Jackson won his election based on shutting down this cabal of snakes and vermin. That was over 150 years ago when people in this country had some brains.

            And the Central Bank stayed closed and barred from this country til 1913 when the Fed Reserve Act was passed by traitors to our country.

            AND SINCETHE FED RESERVE ACT OF 1913 OUR DOLLAR HAS LOST 97% OF ITS VALUE……….

          • socalbeachdude

            Not a single penny of funds went to any “off shore mega banks” from the Federal Reserve which is 100% owned by its 7,000 or so member bank shareholders who get an annual dividend of around 6%.

          • bob cratchette

            i guess in a fantasy world the laws would be obeyed which means that we are screwed.

          • greanfinisher .

            You’re talking to me about legalities, but I can assure you that if push comes to shove over there, all of the rule books on the planet won’t mean a can of beans.

          • socalbeachdude

            All central banks are government by highly specific laws to which they must conform and comply and in the case of the US that would be the Federal Reserve Act which most certainly does apply as to any and all actions and policies by the Federal Reserve.

          • Bill G Wilminton NC

            more BS you just cant stop with your BS BS BS.

          • Bill G Wilminton NC

            more BS

          • Bill G Wilminton NC

            plse disappear with your BS and more BS

    • Jessy Scholl

      Actually there will be winners in the derivatives scam with some US Banks winning. This is pretty much like a casino game with one player going all in and selling what he doesn’t have. For example, let’s say Jared Deutsche and Goldman Sachs are both playing Roulette. They both have their entire income, all real estate assets, and have maxed out 5 credit cards. Jared Deutsche has his stuff on 24 black while Goldman Sachs has all his stuff on Red. We are playing for keeps. When the wheel spins, it lands on Red. That is pretty much what is happening in real life.

      • greanfinisher .

        One thing is certain though as we won’t come out winners.

        • none

          The bankers have already won! I Since they have been payed their bonuses!

          • greanfinisher .

            They certainly hold all the aces.

        • Jessy Scholl

          Think of this as a area of stress. Right now there is massive stress thanks to Deutsche Bank. The stress becomes less when Deutsche fails.

          • greanfinisher .

            ……….if it doesn’t drive the world’s economies into the Stone Age first.

      • socalbeachdude

        There is no “derivatives scam.” Helllooooo?

        • Bill G Wilminton NC

          Warren Buffet kinda disagrees with you BIG TIME.

          • socalbeachdude

            Nope, and Warren Buffett is heavily involved in derivatives himself, BIG TIME.

          • David

            Yes to blow up economy. Moodys just downgraded Deutsche Bank to almost Junk. You are not as bright as you think you are

          • socalbeachdude

            Nope. Deutsche Bank’s debt (bond) ratings are two steps above junk levels.

          • David

            Look I do not have the time to discuss this. The WHOLE financial system is FRAUD when loans are created no money actually ever changes hands. It is created out of thin air. Banks are leveraged to the hilt and the people are saddled with the debt. Read the book the creature from Jekyl Island

          • socalbeachdude

            Those are ludicrously and laughably false assertions and insulting to the fine professionals working in the US financial system. No money is “created out of thin air” at all contrary to your absurd and totally false assertions.

            The Federal Reserve does not cost taxpayers a single penny and in fact is the LARGEST SINGLE ENTITY REVENUE GENERATOR FOR THE US GOVERNMENT and rebates 94% of its annual profits to the US Treasury for the benefit of its taxpayers and has always done so for its entire existence.

          • David

            Why is the debt 19 trillion Do the world a favor go kill yourself do not respond to me again. To argue with a fool proves there are two GOOD BYE

          • socalbeachdude

            Obviously, because we have an ABSURDLY OUT OF CONTROL SPENDTHRIFT CONGRESS which has increased the federal debt from $1 trillion in 1981 to more than $19.2 trillion in 2016. That has nothing to do with the Federal Reserve which is not even part of the US government but rather a quasi public-private agency which turns over 94% of its annual profits each year to the US Treasury.

            Government’s key role is to be FISCALLY RESPONSIBLE and set a proper example for its citizens and not run up debt that is DUE WITH INTEREST IN THE FUTURE FROM ITS CITIZENS, the latter of which is exactly what the US government (and many other governments) have been doing in spades for the past 35 years or so which is why we have the catastrophic global debt problem and its impending collapse.

            Hey, as long as they don’t get the tab at the end of the day, Americans just love government debt. My longstanding solution to that would be for the US government to send every single American of every age an INVOICE EVERY YEAR FOR THEIR SHARE OF THE FEDERAL DEBT.

            $8,314,529,850,339.07: Debt Up $70,612.91 Per Household Under Obama…

          • Bill G Wilminton NC

            Will you plse make yourself disappear as David said dont debate with a fool and you are a mega fool…………

          • socalbeachdude

            Nope, but that sure would describe YOU.

          • Bill G Wilminton NC

            You are a deceiver but first you were deceived !

          • socalbeachdude

            Hardly, but that would describe you perfectly.

          • Bill G Wilminton NC

            I am way beyond what you would believe and I know your aim Mr Deceiver but you need more training…….so keep your marks up with the upvotes to impress your supervisor….this is your lot in life a BS master !

          • socalbeachdude

            What I have stated are clearly the 100% accurate, correct, and true facts and if you are unable to comprehend them it shows that you have nearly zero understanding of even the most basic and rudimentary facts regarding the Federal Reserve.

          • Bill G Wilminton NC

            The fact is the fed reserve is not federal nor a reserve and is an illegal cabal of snakes and vermin and has destroyed the currency of this nation and you are one of them…………

          • socalbeachdude

            Those are absolutely false assertions.

          • Bill G Wilminton NC

            Even the name is BS and designed to deceive as it is no more federal than federal express……

          • Bill G Wilminton NC

            David well said…….

          • Bill G Wilminton NC

            President Jackson through the money changers out over 150 years ago……like I said go F off you troll.

          • socalbeachdude

            As Martin Armstrong has clearly stated:

            We need central banks as a clearing mechanism and to maintain reserves of member banks. The problem is that central banks are not all created the same. Jackson destroyed the Bank of the United States, which did not engage in quantitative easing and had no such power to create elastic money. They simply lent money to Jackson’s opponents. The destruction of the central bank resulted in the Panic of 1837 and the sovereign defaults of the states during the 1840s that occurred after the states had issued debt in an attempt to bailout state banks that went nuts without a central bank to control anything.

            This constant attack on central banks is really hiding what the problem truly is — government. When the Fed was created, it “stimulated” the economy by purchasing corporate paper. The Fed was NEVER intended to buy government bonds. The politicians did that for World War I and never returned it to its purpose. Then FDR grabbed it and ordered the Fed to buy government bonds at PAR, which was not removed until 1951.

            Eliminating the central banks will not save our future. That would push us over the edge as Jackson did. We need to eliminate government debt and return the Fed to its original design and knock off this manipulation of the Fed for political gain.

          • Bill G Wilminton NC

            NOW….I know that you are full of BS and just working off notes….the DEBT cannot be paid off as that is how the money is created— borrowed into existence—-if you pay off the debt there is no money in circulation…great system the Federal Reserve gave us HUH…you do not know what you are speaking about but just repeating the BS you have been told.

          • socalbeachdude

            You obviously do not comprehend debt and how it works at all. Money is NOT created by being borrowed into existence and your further assertions are laughably false and not even worth responding to.

          • socalbeachdude

            Martin Armstrong is 100% correct above.

          • socalbeachdude

            That “creature” book is nothing but a piece of bogus and blatantly false propaganda garbage and nothing else.

          • Bill G Wilminton NC

            The creature book is accurate to a frightening degree I used to give lectures about this book and carried a case of them in my car to give out to people in Ft Lauderdale Fl in the late 90’s The Creature From Jekyll Island.

            So Mr socalbeachdude you can go F off you are a troll and not a good one either.

          • socalbeachdude

            Absolutely and categorically false. That book is nothing but PURE PROPAGANDA and nothing else.

          • Bill G Wilminton NC

            You are the propaganda and you are talking to an instructor of that book….you are a liar and a deceiver and have an agenda…but I know the TRUTH.

          • socalbeachdude

            Obviously those assertions are laughably false and totally bogus and you are a denier of actual reality regarding the Federal Reserve. Attempting to claim that any of your bogus assertions are “truth” is truly uproariously laughable!

          • Bill G Wilminton NC

            No you are laughable as you are not a good deceiver……go back for more training junior

          • socalbeachdude

            Nope, not in the least bit.

          • Bill G Wilminton NC

            This man gives himself up votes lol comical….Big Time Loser !

        • Jessy Scholl

          Then what do you think they are doing with our money? The sad truth is that John and Jane Doe have an checking account with Deutsche Bank. Based on what amount they have in the bank, it is being used in the derivatives scam. If it is just peanuts and they have money tucked under a mattress for a rainy day, they will be just fine. If it is Thousands of dollars and all the money is in that single account, we are talking a blood bath of losses. Right now, all it will take to collapse Deutsche Bank is a small run on a few branches somewhere in Germany.

          • socalbeachdude

            First, it is NOT YOUR MONEY at all, and second customer deposits are not used by banks to invest in derivatives. You obviously have zero comprehension as what the derivatives markets are or how they work and I would suggest you learn about them.

          • Jessy Scholl

            I know what it is are. It is the futures market and as of the end of the 2nd quarter 2008, it is grown to $182.2 trillion according to the federal government. That money has grown since then to the point that Michael reports that $64 trillion in contracts is exposed by Deutsche Bank. This is 16 times the GDP of Germany. Therefore, let’s admit it, Deutsche Bank is betting on the derivatives market with your money even if you don’t want them to do so.

          • socalbeachdude

            Nope, Deutsche Bank is not using a single penny of customer depositor money to0 bet on anything, and the actual amount of money involved in derivatives is less than 1% of the nominal face values.

          • Jessy Scholl

            Sixteen times the GDP of Germany is an impossible number. That is reckless for Deutsche Bank and unless the debt is forgiven, which Jesus demands, the bank will go under and will take down all customer deposits as well. Most of this is in the form of future contracts that must be repaid.

          • socalbeachdude

            None of those contracts are debt at all and none of them have to be “repaid” at all. Derivatives are SPECULATIVE GAMBLING BETS and are a ZERO SUM GAME. Please learn about derivatives and the fact that in terms of money they only involve less than 1% of their nominal face value in most cases.

          • Jessy Scholl

            You are one of the most naive people in the world. Not only do derivatives not work like you said they do, they have to be repaid. It is just like sports gambling where somebody wins and somebody loses. For example, the latest Super Bowl saw a bunch of betting for Carolina over Denver. Now I am not saying that somebody actually bet their entire fortune on Carolina in the game, but if they did, they would lose everything. Yet when you say that gambling bets don’t have to be paid back, you are a Grade A moron and the police would be looking for you if you were actually foolish enough to bet everything on Carolina in the Super Bowl. Granted that Carolina was a good bet going into the game, but it would still be foolish to bet everything on exactly one thing even if you end up winning.

          • socalbeachdude

            DERIVATIVES ARE NOT DEBT AT ALL and are nothing but UNREGULATED GAMBLING BETS. There are NO NET LOSSES ON DERIVATIVES AT THIS STAGE AT ALL and as to “potential losses” you refer to that is just some person’s PERSONAL OPINION and obviously that person has zero understanding that DERIVATIVES ARE A ZERO SUM GAME.

            Any and all derivative bets CAN BE VOIDED OUT and they are nothing but an UNREGULATED GAMBLING PARLOR THAT SHOULD BE TOTALLY PROHIBITED.

            Voiding out the derivatives bets at AIG is what should have been done with AIG rather than a government takeover of AIG and those issues are presently being challenged in court.

            Derivatives are CONTRACTS AGAINST THE PUBLIC INTEREST WHICH ARE UNENFORCEABLE as a matter of legal principle and can be TOTALLY VOIDED BY THE COURTS.

          • Jessy Scholl

            Whatever floats your boat. But the fact remains is that Deutsche Bank is near collapse and will collapse within a matter of weeks if not days. All it will take is a minor run on that bank for the collapse.

          • socalbeachdude

            Absolutely false. Deutsche bank is not anywhere even remotely “near collapse” and is a vibrant and solvent bank and is the largest and most important bank in Germany and Europe. Helllloooooo?

          • Jessy Scholl

            Jessy Scholl laughs so uncontrollably that he needed emergency medical attention in order to survive.

          • socalbeachdude

            Please go buy a clue somewhere.

          • Bill G Wilminton NC

            more BS from socalbeachdude and another upvote to HIMSELF lol

          • Bill G Wilminton NC

            Jessy do not waste your time this socalbeachdude is a jerkie…..anyone who upvotes themselves that speaks volumes.

          • Jessy Scholl

            I agree with you. I actually found that out much earlier today. Just trying to give him the education he needs.

          • socalbeachdude

            You are the one who obviously needs an “education,” not me by any means.

          • Jessy Scholl

            Don’t come crying to me the day Deutsche Bank collapses.

          • socalbeachdude

            That is certainly not going to happen in the foreseeable future.

        • David

          Warren Buffet is a lying Globalist who received a lot of bail out cash. Called derivatives Financial Weapons of Mass Destruction. You are either a Troll or Clueless

          • socalbeachdude

            Those were all just VERY SHORT TERM LOANS through the Federal Discount Windows that were NEARLY IMMEDIATELY FULLY REPAID WITH INTEREST and those amounts are the AGGREGATE TOTALS of all such loans for that period from December 1, 2007 through July 21, 2010. So what?

            NO MONEY WAS EVER GIVEN TO THE BANKS as part of those very short term loans and THERE WAS NO NET GAIN AT ALL TO ANY OF THOSE BANKS who all repaid those short term loans with interest and all of those loans were fully collateralized and had NO COST WHATSOEVER TO THE FEDERAL RESERVE and created no losses whatsoever for the Federal Reserve but rather RESULTED IN NET GAINS TO THE FEDERAL RESERVE FROM THE INTEREST PAID BY THE BANKS ON THOSE LOANS.

            What is so difficult for you to comprehend about the actual facts?

          • Bill G Wilminton NC

            NO ONE CAN COMPREHEND BS…..The Federal Reserve should be shut down as Ron Paul said and Pres Jackson did about 150 years ago……socalbeachdude you are such BS you are comical plse just go away dont go away mad just go away…..who has time for your BS

            oops and another upvote to HIMSELF

          • socalbeachdude

            The Federal Reserve has done an absolutely superb job of managing the money supply and monetary policy in the US over the past 100+ years during which time the US has become the biggest economy in the world and the wealthiest country in the world with over $180 trillion in assets which are offset by only about $60 trillion in debt resulting in around $120 trillion in net aggregate assets in the US..

            Without the Federal Reserve and its monetary policy and influence over the past, the US would still be the irrelevant backwater banana republic that it was back in 1913 as opposed to the economic superpower of the world – by far – with the world’s reserve currency used in 85% of all global transactions and the wealthiest nation in the world with over $180 trillion in assets.

            The Federal Reserve has an excellent web site which explains all of the operations, functions, and details about the Federal Reserve and the Federal Reserve Act and anyone wanting to learn more about the Federal Reserve can peruse all of that information including their fully audited and highly detailed independently audited annual financial reports as well as a wealth of other information and statistics at their excellent web site.

          • Bill G Wilminton NC

            I said it well and a short time ago GO F YOURSELF since the FED RESERVE which is not federal nor a reserve has decimated our currency since 1913 and the currency has lost 97 % of its value…this illegal cabal of snakes and vermin should be SHUT DOWN !

          • socalbeachdude

            The Federal Reserve has done no such thing at all as you falsely assert.

            As to the value of the US dollar over the past 100 years…

            No, the dollar did NOT really lose 95% of its value since 1913

            Let us take at the period from 1913-2006, where we have complete data. So what do they mean, when they say the dollar lost 95.1% of its value in those 93 years? Essentially, an average good/service that cost $1 in 2006, used to be priced at 4.9 cents in 1913. In other words, the average price level of goods/services increased by 1930% since 1913. True, but guess what, average earned income increased by 6560% during the same time period. Average earned income rose from $740/yr in 1913 to $49,300/yr in 2006. Adjusting for inflation, $740/yr in 1913 is $15,000/yr in 2006 dollars. Average incomes, not only kept pace, but beat price inflation by 230%.

            So does it make any sense all to say the dollar lost value? In reality, the REAL purchasing power of the average American, has increased by 230% in the past century. Sure, prices were cheap in 1913, but $740/yr doesn’t buy you a whole lot, not anymore than 15,000/yr today.

          • Bill G Wilminton NC

            Listen you idiot you have been so BS at some Collge/University and you were not taught TO THINK but WHAT TO THINK.

            So the prof says we are doing better than 100 years ago and all you just nod your heads “gulp golly gee ” now I know something NO you dont you have been indoctrinated.

            In those days of monetary soundness ( gold backed) or gold coins the money increased in value so the savers benefitted. People put money under a mattress and everyone saved and worked.

            If prices are not manipulated the price of things should really go down not up. For instance houses….sheet rock vs stucco and lathe, and the new machinery for building like nail guns etc etc etc brings costs down year after year.

            So we were a nation of savers and cash was king people saved up and bought a house because the stash under your mattress was increasing in value and your cash bought more the longer you waited. NOW your money is worth less by the minute.

            YUP the first central bank was shut down by President Jackson and the country billowed and burgeoned to a financial powerhouse of manufacturers to the world much to the chagrin of the international bankers from England ” The Rothschild’s……but THEY struck again in 1913……Read the book “The Creature From Jekyll Island” and learn the truth.

          • socalbeachdude

            I was an excellent top of my class student in my University Money & Banking class, but obviously you’ve never even taken a rudimentary and basic community college course in Money & Banking.

            The standard of living has ADVANCED ENORMOUSLY over the past 100 years in every respect from what it as 100 year ago. Nobody with any brains would have put any significant amount of money “under their mattress” but rather would have put it in savings accounts of investments in order to earn returns on that money as the US dollar has EARNINGS POWER when investment unlike commodities such as gold and silver that have absolutely zero earnings power as they are just little niche fungible commodities.

            And those commodities DID NOT APPRECIATE AT ALL YEAR AFTER YEAR but rather stayed constant in value until around 1972 when gold was allowed to trade in the commodities markets at which time it became one of the MOST UNSTABLE AND VOLATILE COMMODITIES OUT THERE IN TERMS OF PRICING.

            Prior to 1972, silver remained constant at around $1.00 per ounce for hundreds of years whereas gold remained constantly from 1793 until 1933 constant at around $20.67 per ounce and then in 1933 was increased to $35.00 per ounce at which it remained relatively constant until 1972 when the US government revalued its official price at $42.22 per ounce which is where it has remained to this day and allowed it to trade on the commodities exchanges where it became a wildly volatile manic speculative commodity with a totally unstable price value.

          • socalbeachdude

            The Federal Reserve did not even exist until the Federal Reserve Act was enacted into law in 1913, so obviously Andrew Jackson had nothing whatsoever to do with the Federal Reserve.

          • Bill G Wilminton NC

            socalbeachdude is both and full of BS

        • David

          Derivatives are speculative bets

          • socalbeachdude

            Yes, they are, but so what? Everything in the markets is a speculative bet. What on earth do you think markets are?

          • Bill G Wilminton NC

            another upvote for HIMSELF lol

          • Bill G Wilminton NC

            No one knows if the opposing bets are covered…..its like two bookies laying off bets to each other but NEITHER has enough money to payoff the losses….no one knows til it happens !

            and another upvote to HIMSELF lol

        • Bill G Wilminton NC

          OH BS……and another upvote to HIMSELF lol

    • socalbeachdude

      Deutsche Bank is doing just fine and certainly is not “going under” at all in the foreseeable future.

      • Mike Smithy

        Your brand of sarcasm is very dry.

        • Paul Benson

          Smithy;
          That was hilarious! You made me laugh.

          • Bill G Wilminton NC

            Smithy:
            Yup that was a good one ….thanks.

        • ITSNOTWhatchaThink

          I don’t think that’s funny.

        • socalbeachdude

          You obviously know little to nothing about Deutsche Bank and its history and finances and I would suggest you learn about that superb German bank.

          • Bill G Wilminton NC

            another upvote to HIMSELF lol

      • ITSNOTWhatchaThink

        It would be good to hear what you base that statement on.

        • socalbeachdude

          Facts.

          • ITSNOTWhatchaThink

            like a synopsis, a website, an article, a quote..

          • David

            Fact you are a dumb aZZ

          • Bill G Wilminton NC

            Fact is you are BS and full of it……oops and another upvote to HIMSELF lol

          • Guest

            That does not answer her question. How do we know that you are not a paid shill? Or an economics student, typing out what you are being indoctrinated with, for who knows what reason?

            Also, sir, do you live in Germany? Have you talked to people who live there? Do you know from experience whether or not their economy is showing signs of stress? You can go on and on defending the banking and financial market sectors all you want. The rubber meets the road on the street, where real life happens. In other words, listen to people’s stories, their experiences, not the official story line. I have extended family living in Germany. I have family who were children during the Second World War. My elder relatives say they see history repeating itself. My family in Germany are noticing the cracks in the German economy. Their government now understands inviting hordes of invaders into EU nations who actually bought the kool-aid, was the wrong thing to do, but it is too late now. The country’s leadership who pushed this the hardest was GERMANY. It is a burden on the economy, their health care system, etc.

          • socalbeachdude

            Anecdotal information is not substantive information at all and all of the numbers on Germany look excellent these days with their economy continuing to grow and confirming that it is by far the most prosperous and excellent economy of any country in Europe by a huge margin.

          • Guest

            I appreciate your measured response. Thank you.

            If a weatherman tells people it is cold outside and presents a number of print outs, graphs, etc. to prove his point, even demonstrates how very cold it is by dressing up in his very warmest parka, but in reality it actually sweltering hot, is that still considered anecdotal? In other words, just because the MSM and our schools, colleges and universities teach as truth what you have been taught, doesn’t mean it is. A lot of what we are told is smoke and mirrors, social engineering and programming.

            Yes, Germany is still in a *better* situation than the other European countries, but look at how the other countries are doing by comparison. If I live in a house that is a little cracked on one side, and the others on my street are cracked on two, three and four sides, yes, I can say my house is in excellent shape, by a huge margin even, relative to the other delapidated houses. The fact is, it is still cracked and one day, if I don’t fix it, the other sides will crack, too.

            A certain someone once said that if a lie is big enough and told often enough, people will eventually believe it. Or if the Kool-Aid is tasty enough. Either way….

        • Bill G Wilminton NC

          Snotty read book ” The Creature From Jekyll Island ” all about the corrupt Fed Reserve. The Truth that socalbeachdude doesnt want people to know.

          • socalbeachdude

            It is nothing but a laughable piece of bogus propaganda and nothing else.

      • greanfinisher .

        Yes, and that’s what they said about Lehman Brothers too. With an estimated exposure of 64 trillion dollars to ‘legalized bets’, that wouldn’t fit my definition of a sound bank.

        • socalbeachdude

          Who is the “they” you are referring to?

          • greanfinisher .

            The New York Federal Reserve.

          • socalbeachdude

            The Federal Reserve New York Branch has nothing to do at all with the parent operations of Deutsche Bank.

          • David

            Except Rothschilds

          • socalbeachdude

            The Rothschilds have very small boutique banking operations in the US and are a very insignificant and small one of the 7,000 member banks of the Federal Reserve.

          • David

            no there are not. The rothchilds make it look like they have nothing to deceive the public. I cant even debate with you no logic Foreign Banks Used Fed Secret Lifeline Most at Crisis Peak Bloomberg

          • socalbeachdude

            Absolutely false as to your assertions. The Rothschilds are a very small entity within the US banking system. No parent foreign bank ever got a single penny of funds from the Federal Reserve at all during the 2007-2010 period nor did they get a single penny before or after, and the money that was LOANED to the US operations and US banks were strictly VERY SHORT TERM LOANS FROM THE FEDERAL RESERVE THROUGH THE FEDERAL DISCOUNT WINDOW with not a single penny ever “given” to any bank, and all of those loans were nearly immediately rep[aid with interest to the Federal Reserve with NO NET COST WHATSOEVER to the Federal Reserve.

          • Bill G Wilminton NC

            socalbeachdude…Total BS……please just go away….and take your upvotes that you award to YOURSELF with you….you have mental probs big time.

          • socalbeachdude

            What I stated is obviously 100% correct, accurate, and true. Any problem is obviously YOURS and your utter failure to comprehend clearly stated irrefutable facts.

          • Bill G Wilminton NC

            well said David…. but sorry to say that there is something wrong with this fellow socalbeachdude !

          • socalbeachdude

            What you don’t like – obviously – is the actual facts regarding the Federal Reserve and the topic of money and banking and I would strongly suggest you learn about those topics starting by reading and attempting to comprehend the excellent Federal Reserve web site.

          • Bill G Wilminton NC

            Just more BS……and another upvote to HIMSELF……..lol comical

          • Bill G Wilminton NC

            For those that are interested in the TRUTH read the book ” The Creature From Jekyll Island ” will tell you all about the origin going back to 1913.

          • socalbeachdude

            There is certainly no “truth” of any sort in that clueless creature piece of propaganda.

          • socalbeachdude

            That “creature” book was originally written by G. Edwards Griffin in 1994 and is nothing but a piece of bogus and blatantly false propaganda garbage and little else. Its absurd assertions have been thorough and totally debunked and what is left of the 1% of factoids remaining there are of no significance whatsoever and the entire point of the book is to promote fantastical and inane and false conspiracy theories about the Federal Reserve System.

            The Story Behind ‘The Creature From Jekyll Island,’ the Anti-Fed Conspiracy Theory Bible

            The Fed was secretly created to enact vicious cycles of genocide. Or so this popular book would have you believe.

            It’s the kind of conspiracy theory so all-encompassing that it explains the very roots of all modern American wars, depression, economic boom, and (most importantly!) the darkest, best-kept secrets of international banking.

            Typically, the Federal Reserve is a government entity that frustrated high schoolers in America are forced to learn about before entering adulthood and forgetting exactly what it is or why it exists. The Fed is our central banking system that was created at the tail end of 1913 as a response to a string of financial crises. It is responsible for implementing the United States’s monetary policy, and is routinely and aptly described as “boring.”

            It’s all fairly mundane and unsexy (though hugely consequential) stuff. The Fed doesn’t bomb anything, invade anything, or even tax anything.

            The fatal flaw in Griffin’s analysis and breathless fear-mongering is, as is the case with so many prevalent conspiracy theories, that it takes a grain of truth and turns it into a salt mine of utterly laughable BS.

            The US government is in debt to the tune of more than $19.2+ trillion because CONGRESS is grossly profligate and financially irresponsible and that has nothing to do with the Federal Reserve, its operations, its policies, or its structure.

          • socalbeachdude

            No, foreign parent banks had NO ACCESS WHATSOEVER to the Federal Reserve System at any time which is only ever open through the Federal Discount Window to fully US LICENSED AND CHARTED SUBSIDIARIES OPERATING IN THE US and totally closed to any parent foreign operations of those subsidiaries.

          • Bill G Wilminton NC

            Total BS……please just go away !

          • socalbeachdude

            Are you seriously THAT CLUELESS?

            The Rothschilds have very limited boutique banking operations in the US and are not even major players in the banking industry. Are you somehow not aware of that?

            The Rothschild family banking concern is called N M Rothschild & Sons and does very little commercial banking these days but is a leader in the M&A (Mergers & Acquisitions) field where it is in the top 6 of global investment banks. It only has about 50 offices worldwide. It is based in the UK in the City of London and does most of its business in Europe. It does very little in the way of retail banking operations except for very limited Private Client Banking.

            The firm competes against a wide range of investment banks, from conglomerates like JPMorgan Chase, Goldman Sachs and Morgan Stanley, to other mergers and acquisitions specialists like Lazard, Moelis and Greenhill & Co. in M&A, valuation and restructuring advisory services.

            Rothschild operates through three divisions:

            Global Financial Advisory (GFA) (Rothschild’s investment banking practice)
            Corporate Banking
            Private Banking and Trust

            Next to these three main divisions, Rothschild is also active in real estate, venture capital, and asset management.

          • Brian

            Your another Benedict Arnold.

          • socalbeachdude

            What I have stated are the clear 100% correct facts. Hellllooooooo?

          • Brian

            Audit the Fed

          • socalbeachdude

            Each and every year, as has been the case for 100+ years, the Federal Reserve issues FULLY INDEPENDENTLY AUDITED Annual Financial Statements which are extremely detailed and run around 500 pages each year. They are fully publicly available for you and anyone else who is interested in them to fully read and review on the web site.

            Have you read them? What more do you want to know?

          • Bill G Wilminton NC

            The Federal Reserve is not Federal and not a reserve and should be shut down just as Pres Jackson did about 150 years ago. This is an illegal cabal…..AND socalbeachdude gives HIMSELF another upvote just comical

          • socalbeachdude

            The Federal Reserve is NOT AN AGENCY OF THE FEDERAL GOVERNMENT and is a quasi-public-private bank created and overseen by Congress and owned by its 7,000 or so member bank shareholders.

            The Federal Reserve does not cost taxpayers a single penny and in fact is the LARGEST SINGLE ENTITY REVENUE GENERATOR FOR THE US GOVERNMENT and rebates 94% of its annual profits to the US Treasury for the benefit of its taxpayers and has always done so for its entire existence.

            There is nothing even slightly “illegal” about the Federal Reserve which exists because of the FEDERAL RESERVE ACT passed by Congress and signed into law by the President at that time.

            Moreover, there is no “cabal” at all but rather the Federal Reserve is a central bank owned by its 7,000 or so member bank shareholders which represent all of the banking interests in the US.

          • Bill G Wilminton NC

            Pres Jackson shut this cabal out of the Bank of England down over 150 years ago and IT only crawled on its belly like the snake it is and was recreated in 1913 and since that time our money has lost over 97 % of its value. Go F yourself and the Fed Reserve also….

          • socalbeachdude

            The Federal Reserve is the most excellent central bank ever devised and has served the US superbly the past 103 years and will do so admirably for the foreseeable future.

          • Bill G Wilminton NC

            BS…….another upvote to HIMSELF lol

          • Bill G Wilminton NC

            Brian socalbeachdude is just full of BS and he gives HIMSELF UPVOTES now that says it all total loser.

          • Bill G Wilminton NC

            another upvote awarded to SELF lol

          • Bill G Wilminton NC

            You as a simpleton cannot track the Rothschild Dynasty it goes back 300 years, they have financed countries for war like France /England…..they are the head of the snake….and in your immaturity and because you cant track them you feel THEY are not there…….I believe that their riches are incalculable 100 to 200 trillion and buried deep in foundations ,trusts, and other financial disguises.

            Believe me if THEY were clever enough and deceitful enough to get the Central Bank back into the US through the Fed Reserve Act of 1913…..THEY are clever enough to remain elusive.

            You are so BS ed it is sad……. ha ha maybe you are a Rothschild….but “no” as you would have been told to shut up.

            And without looking I am sure another upvote for HIMSELF lol.

          • socalbeachdude

            Laughably false and preposterously so. The Rothschilds have nothing whatsoever to do with banking in the US these days except for their small boutique banking operation being one of the 7,000 member banks of the Federal Reserve and a very tiny one at that among those 7,000 banks.

            The Rothschilds are very lovely folks and James Rothschild just married the most gracious and charming Nikki Hilton and they are expecting their first baby soon.

          • socalbeachdude

            What I have stated is, of course, 100% true, accurate, and correct.

          • Bill G Wilminton NC

            and socalbeachdude gives himself another upvote lol

          • greanfinisher .

            In fact, the Rothschilds control the IMF, and every single central bank on the planet.

          • socalbeachdude

            That assertion is categorically and laughably false. Where on earth do you come up with such utter nonsense?

          • greanfinisher .

            I’ve sent you a link, but I’m not sure it will be approved by this site.

          • socalbeachdude

            There is no link which establishes any connection whatsoever to support your fantasy assertions. The Rothschilds family has NOTHING WHATSOEVER to do with the IMF (International Monetary Fund) and is strictly involved in limited private boutique banking these days and that has been the case for many, many decades.

          • greanfinisher .

            I’ve posted such a link.

          • Bill G Wilminton NC

            you are such BS and have no idea what you are talking about…….

            and another upvote to HIMSELF lol

          • socalbeachdude

            It is obviously you who has no idea whatsoever about what you are commenting on and the number of blatantly false and laughable assertions you have made is beyond mind boggling.

          • Bill G Wilminton NC

            Up until 20 years ago the Rothschild family owned The Bank of England and even after selling the bank to England still have control of the board. They owned this bank for close to 300 years…..

            I cannot waste the time answering your statements mainly because there is so much incorrect facts mixed in with a few very few accurate facts.

          • socalbeachdude

            Those are laughably false assertions. The Rothschilds NEVER OWNED THE BOE and your assertion that they did is beyond preposterously false.

          • Bill G Wilminton NC

            OK…..I got it now!…..you will not receive any comments from me anymore on any topic…….YOU ARE A BS TROLL and your scorecard is the upvotes that you give yourself……you are one sorry sack of sh*t……..lol and a joke

          • socalbeachdude

            Hardly, but that sure does describe you.

          • Bill G Wilminton NC

            socalbeachdude another upvote to self lol comical

          • Bill G Wilminton NC

            YUP……gold star !

          • socalbeachdude

            The Rothschilds have nothing whatsoever to do with the IMF, let alone controlling it. Nor do they control any central bank in the world in any country and never have.

          • Bill G Wilminton NC

            socalbeachdude another upvote to self lol

          • greanfinisher .

            Not yet anyway.

          • socalbeachdude

            Not ever.

          • Bill G Wilminton NC

            oh yea another upvote toself lol

          • Bill G Wilminton NC

            yup another upvote to self

          • Bill G Wilminton NC

            socalbeachdude upvote to SELF lol

      • Bill G Wilminton NC

        BS !….. please go back to the beach, maybe consider playing with the sharks

      • Bill G Wilminton NC

        socalbeachdudeupvote to HIMSELF lol

    • Buy Equities

      As long as the stock market is going higher, your forecast isn’t going to happen.

      • socalbeachdude

        The stock markets in the US have NOT GONE HIGHER AT ALL over the past year and are nearly TOTALLY FLAT over that one year period.

        • Bill G Wilminton NC

          upvote to HIMSELF lol

    • bob cratchette

      then on top of that germany has all the muslim hordes there standing around with their hand out just waiting to start their rioting when the govt benefits run out.

      • greanfinisher .

        I’ve never seen a U.S. surrogate survive yet when the benefits run out.

    • Buy Equities

      If that was going to happen in the next 6 months the stock market would be crashing right now or dropping at a steady rate. It isn’t happening. The stock market is THE leading indicator of the economy

      • greanfinisher .

        It could easily happen overnight so the market woudn’t have time to ‘correct’.

    • Aaron Pray

      And the fed in june rise the rates that’ll bring them down even faster it’ll have ripple effects.

      • socalbeachdude

        The Federal Reserve ONLY SETS 3 INTEREST RATES and none of them matter a hoot in the US economy. They certainly will NOT BE LOWERING any of those 3 interest rates in the future at all and are working to get them back to NORMAL RATES in the 5.00% to 5.5% range with the goal of reaching around 3.00% by the end of 2017.

        The only 3 rates that the Federal Reserve is involved with setting are:

        1) Federal Discount Rate – currently 1.00%

        2) Federal Funds Rate (which it influences) – currently the range of 0.25% to 0.50%

        3) Federal Reserve IOER (Interest On Excess Reserves) – currently 0.50%

        The ONLY applicability of the Federal Funds Rate is INTERBANK BORROWING to clear nightly transaction balances which is now practically NEVER UTILIZED as the banks are awash in trillions of dollars of EXCESS RESERVES and have no need to borrow from each other.

        As to interest rates on savings accounts, BANKS ARE AWASH WITH EXCESS CUSTOMER DEPOSITS AT A TIME WHEN DEMAND FOR BORROWING IS VERY LOW which is why interest on savings rates is so low and that is not likely to change much.

        • Aaron Pray

          I never said lowering rates first of all lol.
          I said raising rates would make it harder for companies to borrow money that’s all. Have ripple effects through all most bankrupt banks not the more stable ones at first though. they are to big to fail lol.

          Just wait for a bail ins like in Cyprus. Right now were living above our means while we put the debt on others via petro dollar thank you Nixon should of stuck with the green backs aka gold backed.

          Wait for silver to be (88-89) an oz at the (end of this year) we shall see who’s laughing 🙂

          Im done now have a good one.

          • socalbeachdude

            Neither did I discuss lowering interest rates at all, but rather just the opposite about raising rates. I have no clue as to what “bankrupt banks” you are talking about as there really aren’t any out there in that condition other than in CHINA and SPAIN where there are huge problems with NPLs (Non Performing Loans). The largest banks in the US are fully solvent and that is also the case in Germany.

            The situation in Cypress was highly unique largely because of the massive amount of external deposits from Russia and is not likely to be repeated elsewhere.

            Total debt in the US is now in excess of $64 trillion with only about $19.2 trillion of that being federal government debt and that is only around 105% of US GDP which is only a little bit above the EU and vastly lower than the 250% government debt to GDP of Japan.

            There is no such thing as the “petrodollar” and oil only accounts for LESS THAN 7% OF GLOBAL TRADE in which the US dollar is used and total transactions in US dollars accounts for more than 83% of all global trade.

            Nixon had nothing to do with the “gold standard” in the US which had long ago been TOTALLY DISCARDED BY THE US DOMESTICALLY back in 1933 and only a tiny shred of gold nonsense was even left in the form of international bank transaction convertibility which is what was discarded in 1971.

            Artificially constraining the growth of money supplies while the population is growing substantially CAUSES DEPRESSIONS and causes countries to fail economically.

            Moreover, the US dollar is backed by the full faith and credit of the US government and the US economy is by far the largest single country economy in the world.

            AS to the price of silver, it is extremely overpriced at $16 per ounce and is in the process of reverting towards and to its mean of around $8 per ounce and then heading lower to perhaps as low as $4 per ounce where it was in 2004 before it entered a manic speculative market which rose to $50 per ounce (just like back in 1980) and then crashed $34 per ounce which is a 68% drop since April 2011 when it hit its manic speculative high.

        • socalbeachdude

          When the Federal Reserve raises the only 3 interest rates they set THE EARNINGS OF US BANKS GOES UP as banks not only charge more on certain loans but earn substantially more on their vast excess reserves inside the Federal Reserve which now exceed $2.5 trillion. Banks in the US are presently earning 0.50% interest on those reserves which DOUBLED what they were earning from 0.25% as of December 2016 and will soon be earning TRIPLE what the 0.25% rate was prior to December 16, 2015 when the Federal Reserve increases that interest rate (IOER) to 0.75% at either their June 14-15, 2016 or July 26-27, 2016 meeting of the FOMC.

          Banks do not borrow money to lend money and cannot even do that from other banks or the Federal Reserve and US banks certainly will not be paying depositors more as the demand for loans is so low and the present outstanding loans to customer deposits ratio is at a record low 67% and banks are awash in vast excess depositor funds and banks do not want any additional customer funds so their cost of customer deposits will not be increasing. What will be increasing are the profits of US banks.

  • MIchael in Chicago

    When will a banker finally be held accountable?

    • Brian

      The second after they die and they have 2 stand before God Almighty.

      • Guest

        Absolutely.

    • Orac4Prez

      Good to see some humour. Probably the same time they get paid the amount they actually earn!

    • socalbeachdude

      Held accountable for what?

      • Creepy Pedro

        For being a moneychanger.

        • socalbeachdude

          Huh? There is certainly nothing illegal about that. Helllllooooooooooo?

          • Bill G Wilminton NC

            and another upvote this is ridiculous lol

      • Bill G Wilminton NC

        Accountable for upvoting yourself lol

  • alexZM

    Mike, If you know Deutsche Bank is going to declare bankruptcy, how you are going to profit from it? I watch the ‘big short’ but have no idea how can he make 260 times+ of his investment.

    • socalbeachdude

      Deutsche Bank is just fine and certainly is not going to “declare bankruptcy” anytime in the foreseeable future.

      • Coin Taylor

        Real know it all ah beachDUD !

        • socalbeachdude

          I’d suggest you learn about Deutsche Bank.

          • Bill G Wilminton NC

            I’d suggest that you post something that fellow bloggers give you an occassional upvote

      • alexZM

        I mean IF. How do you make maximum profit from this incident? Of course it will be bailed out, but its still a systemic event. shares price will crash.

        • MF Jones

          How about shorting DB stock?

          • alexZM

            the max. profit is only 100%.

          • socalbeachdude

            Maximum profits are UNLIMITED but stocks can only ever decline 100%.

          • Bill G Wilminton NC

            another upvote to HIMSELF lol

      • Bill G Wilminton NC

        and socalbeachdude gives HIMSELF another upvote lol

  • Orac4Prez

    What about JP Morgan? They have been selling put option, buying physical and have amassed huge amounts of silver, (especially since 2012). All to manipulate the market and make money. They could have a new challenger as the Chinese government has also bought up big (supposedly about 950 tons), but over a long time. I think the whole game has been rigged for years.

    • socalbeachdude

      JPMC has very little commodities exposure and is closing down that part of the business and has practically no exposure in the silver markets. Hellloooooo?

      • Orac4Prez

        Over 900tons of silver according them there own information. They have already been investigated…

        • socalbeachdude

          Absolutely false assertions.

          • Bill G Wilminton NC

            AGAIN a upvote for HIMSELF lol

      • goldminer

        Helloooo? You are 1 amazing person. How does one type with your head implanted so firmly where the sun does not shine.

        • socalbeachdude

          You need to learn about the businesses of JPMC and the fact that commodities is not one they intend to pursue and are exiting.

          • Bill G Wilminton NC

            YUP another upvote for HIMSELF lol

      • strtgy101

        You are an IDIOT!!

        • Ann Tenna

          I see you are a thinking person

        • socalbeachdude

          Please go buy a clue and learn about JPMC and the fact that it is exiting the unprofitable commodities business including in little junk stuff like metals.

          • Bill G Wilminton NC

            AND another upvote for HIMSELF

      • Ann Tenna

        REPEAT…you are an IDIOT!

        • socalbeachdude

          Nope, but that sure does describe YOU.

          • Bill G Wilminton NC

            another upvote to HIMSELF lol

      • Bill G Wilminton NC

        JPMC says socalbeachdude gives HIMSELF another upvote lol

  • Orac4Prez

    One thing Japan has going for it is this. They have never had any significant immigration and while it has disadvantages, in 100 years time it will still have a Japanese culture. Europe will be dead by then.

    • elmcqueen3

      Exactly…and we will follow in their footsteps.

      • socalbeachdude

        Nope. Please go buy a clue somewhere.

        • Bill G Wilminton NC

          CLUE this …another upvote for HIMSELF lol

    • socalbeachdude

      Europe will be alive for many thousands of years more into the future and thriving.

      • Orac4Prez

        The continent will be there – the culture is going under. Unless they act soon!

        • socalbeachdude

          Europe has always been a shifting landscape for more than 1,000 years and that will simply continue and it really doesn’t matter a hoot.

          • Bill G Wilminton NC

            and one more upvote for HIMSELF lol

      • Bill G Wilminton NC

        We are in the End Days…………

        • socalbeachdude

          Hardly.

          • Bill G Wilminton NC

            Hardly another upvote for HIMSELF lol

      • Bill G Wilminton NC

        another upvote for HIMSELF lol

  • Lone Patriot

    Won’t be long now.

    • socalbeachdude

      For what?

      • Ann Tenna

        beach dude… you must be doing a “dube”.. you have “no clue”.. you will be one of the “dumb masses” starving in the street… bet you don’t even know what a 1964 Kennedy Half Dollar is made of, much less worth!..or ever seen one

        • socalbeachdude

          Huh? We don’t even use junk like coins anymore, so what difference does the metallic composition of a “Kennedy Half Dollar” make to anything?

          • Bill G Wilminton NC

            Coin this another upvote for HIMSELF lol

          • socalbeachdude

            The total value of all of the 180,000 metric tonnes of gold ever mined is less than $7 trillion even at today’s absurdly elevated prices for the stuff of around $1,226 per ounce and about 70% of all gold is in the form of JEWELRY widely dispersed among the world’s 7 billion people leaving only about $2.5 trillion worth to even theoretically use for any financial purpose and most of that is PRIVATELY OWNED and not even available for that purpose at all.

            Artificially constraining the growth of money supplies while the population is growing substantially CAUSES DEPRESSIONS and causes countries to fail economically.

          • Bill G Wilminton NC

            The US does not need a gold back currency and The US does not need The Federal Reserve but could just back its own currency and pay no interest.

          • socalbeachdude

            The US government does not pay interest on US dollars issued by the Federal Reserve, but only pays interest on its FEDERAL DEBT that it has borrowed from itself and the public by running up vast debts which now exceed $19.2 trillion.

            The Federal Reserve does not cost taxpayers a single penny and in fact is the LARGEST SINGLE ENTITY REVENUE GENERATOR FOR THE US GOVERNMENT and rebates 94% of its annual profits to the US Treasury for the benefit of its taxpayers and has always done so for its entire existence.

            The US services its $19.2+ trillion debt by ISSUING ABOUT $7 TRILLION A YEAR IN NEW US TREASURIES to repay in full those that mature and to achieve a net issuance of approximately $1 trillion a year. The interest service on that debt is currently less than $260 billion (about 6% of the federal government budget of around $44 trillion due to interest rates being near record low levels on US Treasuries.

            The Federal Reserve only owns about 14% of the outstanding US Treasuries amounting to about $2.2 trillion and the interest on those to the US government and its taxpayers is essentially FREE as the Federal Reserve rebates more than 94% of its annual profits to the US Treasury each year as it has done for the past 100+ years and the US government presently receives about $100 billion a year as a result of those rebates from the Federal Reserve.

        • Bill G Wilminton NC

          It must be a DUBE wrapped with the sports pages to create this delusion…..one big dube

        • socalbeachdude

          Nobody here in Beverly Hills, California is or will be “starving in the streets,” dudette.

      • Bill G Wilminton NC

        another upvote to HIMSELF lol

  • robert

    Makes me wonder if deep in Bavaria some folks are pulling out the swastika flags from their hiding places. Deutschland uber alles. A small movement can explode under the right circumstances.

    • Steeve Girard

      Swastikas are not all about Nazism. Some are to illustrate the cycles of Nature. Some are part of Indo-European religions.

      • Robert

        They mean something to Germans.

      • Ann Tenna

        True True…lets not forget “free speech”… it should be a right for all countries… and an “idea” should be “free speech”

  • James Dohnalek

    I have zero hope that this will NOT IMPLODE.

  • James Dohnalek

    I think half of the Japanese population will be dead of radiation poisoning.
    All the Japanese are living in horrible fear, hoping to live day to day and frightened that tomorrow will be the end of their lives.

    • socalbeachdude

      Absolutely false, not to mention patently absurd.

      • Bill G Wilminton NC

        Fukushima is real , Absolutely Real !

        The Japanese people are living with a slow cooking radioactive nightmare !

        • socalbeachdude

          There is no danger whatsoever from Fukushima and if any city would be affected it would be TOKYO which is about 200 miles from Fukushima and there are no problems there at all from the tsunami and earthquake which took place 5 years ago back in 2011.

          • Bill G Wilminton NC

            You must start sharing your drugs……they must be real good.

          • socalbeachdude

            You obviously aren’t paying attention to the actual facts regarding Fukushima at all which is of no problem in Japan of any significance at all. Please go buy a clue.

          • Bill G Wilminton NC

            Bullsitza and this radiation is effecting the fish throughout the Pacific and the west coast of Ca is being bleached stone white with all the lifeforms gone.

            AND STOP GIVING YOURSELF AN UPVOTE that really shows what an A hole you are. REALLY BIG A HOLE. and its comical.

          • socalbeachdude

            There are certainly no fish affected in the Pacific Ocean here in California from that situation which occurred MORE THAN 5 YEARS AGO in Fukushima, Japan which is many thousands of miles away from the western coast of the United States.

          • Bill G Wilminton NC

            Oh my more upvotes to HIMSELF lol.

            The currents……..

          • K2

            Yes he should stop giving himself an upvote, and you should stop telling him to stop telling him to give himself an upvote, its getting absurd, you already told him that a million times already. Scroll up and see….

          • Bill G Wilminton NC

            The Facts are another upvote to HIMSELF lol

          • Bill G Wilminton NC

            BS says another upvote to HIMSELF lol

      • Bill G Wilminton NC

        I got my goggles on but your BS is so deep I am switching over to power goggles.

        Fukushima is a natural disaster for Japan and the world…….

        • socalbeachdude

          Fukushima is of very little consequence to Japan and has had no affect on the nearly major city, Tokyo, which is about 200 miles away from Fukushima.

          • Bill G Wilminton NC

            When you repeat BS it comes out as BS BS BS BS BS BS BS BS BS BS BS BS BS BS a machine gun of BS

          • Bill G Wilminton NC

            Fuku and he gives HIMSELF another upvote lol

      • Bill G Wilminton NC

        wow now ya got snotty givin an upvote plus the one you give YOURSELF equals 2

  • James Dohnalek

    JP MORGAN will be the next DEUTCHE BANK, it has a larger derivitatives exposure.

    • socalbeachdude

      Derivative are a ZERO SUM GAME and are totally irrelevant and only involve less than 1% of the nominal face value of the derivatives contracts.

      • df NJ

        Don’t let the facts get in the way of people’s delusion of apocalypse! You are only preventing the highly desired rapture.

        • socalbeachdude

          There are a lot of people out there apparently with not the slightest clue as to realities. Pitiful. Just pitiful.

          • Bill G Wilminton NC

            YUP and YOU are one of them ! pitiful

          • socalbeachdude

            Hardly, but that sure includes YOU.

          • Bill G Wilminton NC

            OH MY another upvote for HIMSELF lol

          • Bill G Wilminton NC

            What is pitiful is upvoting for YOURSELF lol

      • Bill G Wilminton NC

        Derivatives ARE a Black Hole Death Star and are the Basis to bring the Financial World to Oblivion.

        Professor Irwin Corey said ” if we dont change direction we will get where we are going”

        Anyone who would agree that Derivatives are a ZERO SUM GAME shows their lack of financial acumen.

        Warren Buffet Quote ” I view derivatives as time bombs both for the parties that deal in them and the economic system “

        • socalbeachdude

          Nope, they are not, and I would suggest that you learn about derivatives which include all commodities futures.

          • Bill G Wilminton NC

            ON DERIVATIVES: Warren Buffet Quote ” I view derivatives as TIME BOMBS both for the parties that deal in them and the economic system.

          • socalbeachdude

            Warren Buffett is one of the BIGGEST PLAYERS IN DERIVATIVES through his main company Berkshire Hathaway. Are you somehow not aware of that?

          • Bill G Wilminton NC

            This topic BUFFET and DERIVATIVES covered on this blog June 22 2015.

          • socalbeachdude

            What does that have to do with my comment and the fact that Warren Buffet and his holdings through Berkshire Hathaway are among the LARGEST DERIVATIVES HOLDERS IN THE WORLD? Are you not aware that Warren Buffet has always had huge investments in banking operations including Bank of America, Goldman Sachs, Solomon Brothers, Wells Fargo Banks, etc.? Really? Seriously?

          • Bill G Wilminton NC

            I think that you are so full of BS that I have put my goggles on…….take your BS positions up with the man who owns this blog…….YOU ARE JUST BS !

          • socalbeachdude

            Hardly, but that sure would describe YOU.

          • Bill G Wilminton NC

            upvote to HIMSELF lol

          • Bill G Wilminton NC

            back to normal gives HIMSELF an upvote lol

          • Bill G Wilminton NC

            Warren says socalbeachdude give upvotes to HIMSELF lol

          • Bill G Wilminton NC

            This topic BUFFET and DERIVATIVES covered on this site June 22 2015

          • Bill G Wilminton NC

            Nope back to upvote for HIMSELF lol

      • Bill G Wilminton NC

        and another upvote plus yours equals two…your on a roll now.

  • K

    Just the beginning. I know for many of you, it is just more of the same. But you are wrong. There was not always, all those closed coal mines. There was not always all those parked train engines. There was not always all those anchored oil tankers. And the cops were not always armed, like the military. When you look at all the changes, and yes I only named a few. The question is not, what is going to happen. But what will be the final. triggering event.

    • ALWAYSTOMORROW

      K, I would bet “The final triggering event” will be something that probably no one is suspecting and hasn’t been covered in any of Michael’s articles.

      • JustBill

        I have very low debt, bring on the next reason to prep.

      • JC Teecher

        I am inclined to agree on the slow burn thing. God is still on the Throne, and things happen just as He allows.

        I know the rain falls on the “just” as well as the “unjust”, but I believe the waves of destruction are gradual for the grace shed on the elect and innocent..especially here in the “barely clinging” Christian nation Of America.

        In saying that, i do believe a shaking is overdue, like the 9/11 event that will cause many to run back to the churches and down on their knees.

        If it is in God’s will, and the nwo has the kind of control they propose, it could come in the way of martial law this Fall, or even late summer.

        Time will tell and folks need to heed the warnings and prep like their livelihoods depend on it, for the upcoming winter. It could be very cold and lonely for some folks, into next year.
        Trumpster, is not a saviour.

        • Bill G Wilminton NC

          “Trump is not a Saviour” my thought is that Trump may not be a Godly man (yet) but he maybe God’s man of the hour.

          Whereas Hillary is a GUARANTY to OBLIVION anti god, anti constitution, pro-abortion, pro-perversion, pro gun control, no wall, more immigrants, more muslims, more trade agreements, guys pee in ladies room if they THINK they are a girl ha ha lol that says it all.

          VOTE TRUMP he knows what room guys pee in………..

          • JC Teecher

            Well, Bill G., I am with you on the support of trumpster. He sure beats the hell out of the Jezebel.

            However: the jury is still out if he will oblige the nwo and cause the further derailment of the Constitution. Hopefully not, but he must get into office before we start seeing his actions.

            BTW, a lifelong tarheeler from the mtns. near VA and TN. Glad to meet you.

          • Bill G Wilminton NC

            Hi JC thanks Bill…

            I think God has his hand on Trumps shoulder.

          • ITSNOTWhatchaThink

            How much prior political experience does Trump have?
            NADA!!! ZIP!!!! ZILCH!!! ZERO!!!
            He talks the talk, but never walked the walk.
            But hey.. it’s only THE PRESIDENCY!
            Maybe next we’ll grab people off the street w/no medical training to do surgery!
            Neither did Ulysses Grant or Dwight Eisenhower have a prior politcal position, though both had a strong military background. Dwight being ” The Supreme Commander of Allied Forces in World War II”
            and Grant “Commanding General of the United States Army”
            How much military background does Trump have? NADA!!! ZIP!!!! ZILCH!!! ZERO!!!

            “no major U.S. company has filed for Chapter 11 more than Trump’s casino empire in the last 30 years.”
            He has filed four business bankruptcies. Maybe he thinks it’s just as easy to file bankruptcy w/the entire government and walk away.

          • strtgy101

            You are spewing the same thing about Trump as other cut and paste Trolls! Go back o Huffington Post!

          • ITSNOTWhatchaThink

            No, you go away.

          • Ann Tenna

            ok smart guy… explain barack husein obamma..aka barry sotero?.. he was a political mountain when he stole the office

          • socalbeachdude

            Donald Trump for President 2016.

          • David

            least you got one thing right

          • Bill G Wilminton NC

            and a couple of upvotes lol

          • Bill G Wilminton NC

            OH MY your upvote for YOURSELF plus me and another person…..equals 3 good job !

          • K

            See you are back snotty. How long before you get banned again. Experienced politicians are like career criminal. We do not need that kind of expertise.

          • ITSNOTWhatchaThink

            I wasn’t banned. This is my more effeminate summer style. 🙂

    • JustBill

      Big things have small beginnings.

    • Scott Comin

      Thank you so true

  • Dabron

    They learned from the aftermath of Lehman Brothers. There is nothing that the Reserve Banks can not do. They will just print more money and buy the shares of DBK thereby recapitalizing it. The argument will be that we are investing in your future just like we did with GM and so many other important businesses.

    • K2

      ”They learned from the aftermath of Lehman Brothers.”
      Something many people here ignore.

  • J B

    The sharks are circling, well they’ve been in the water now for 10 years and their pretty hungry now. Just needs the first one to make the first strike, and then it’s a feeding frenzy.

  • socalbeachdude

    Deutsche Bank is the largest and most important bank in Germany and the EU and will continue to do fine and will remain the largest and most important bank in Germany and the EU. Helllllllllloooooo?

    • Ricardo

      Are you Pres Obuma in disguise ? You give answers like he would.

      • socalbeachdude

        I’d suggest you start dealing with the facts, Ricardo.

        • Bill G Wilminton NC

          Fact is …another upvote for HIMSELF lol

        • K2

          Id suggest you stop giving yourself upvoted. Your comments are very good, let them speak for themselves. They dont need you for them to be upvoted.

    • Bill G Wilminton NC

      Deutsche this another upvote for HIMSELF lol

  • angela Morrow

    Bill Holter is a saying Deutsche Bank is looking for outside capital at the moment. Offering 5 % interest if you leave at least 10000 euros with them for 3 month. That smells of desperation and I think anyone that goes for this deal should have his head examined.

    • Mike Smithy

      They are lining up the sheep for a good shearing or even worse.

    • jaxon64

      Does the euro have the equivalent of FDIC insurance? If so, this may be a no-lose investment.
      DBK lasts 3 months, you net 500 euros …if DBK tanks, then the Euro insurance refunds my 10000 and all of those European socialists get taxed to give me my money back……

      • socalbeachdude

        Yes, there is deposit insurance in the EU.

        • Bill G Wilminton NC

          YES another upvote for HIMSELF lol

  • JC Teecher

    I wrote a piece on Japan’s economy that I posted on another “prepping site”, about two years ago. In that article, I also stated that I believed Japan would possibly be the catalyst that starts the implosion of the financial markets.

    Michael has about as good an insight into the “movers and shakers” of the world economies as anyone. If he says keep an eye on Japan and Germany, then it is a good possibility either one of these could make the spark that starts the world economic firestorm.

    With Japan having the world’s third largest economy, and the country with the world’s largest public debt issue, about 250% , to GDP, it is a ticking time bomb.

    They could drop the financial bomb on the USA economy this August, like the USA gov did on them 71 years ago on Aug 6th.

    • socalbeachdude

      Nope, the epicenter of the current and coming global crash is China and not even insolvent Japan gives China a run for the money on that title.

      • Bill G Wilminton NC

        NOPE he didnt forget to give HIMSELF another upvote lol

    • K2

      Japan owns most of the debt to itself.

      • socalbeachdude

        It doesn’t matter a hoot who a government’s debt is owed to and it is all due and payable according to the schedules set in the bonds they issued.

        • Bill G Wilminton NC

          YUP another upvote to HIMSELF lol

  • df NJ

    God is clearly indifferent with regards to the affairs men. Based on human experiment there is no amount of evil God will not tolerate in order to preserve our free-will. God is clearly pro-choice. Don’t bring God into the pile of dung we are living in. We created the dung, we are the ones who have to clean it up. Or just continue to wallow in it.

    I hope at some point people begin to love Big government again. Because without Big government there’s no way anyone could compete with or stop the Big corporations from crapping in our beds.

    • JC Teecher

      Big gov is another way of saying “socialism”.

      “….we are the ones who have to clean it up.”

      That is the whole point of bringing God into the equation.
      We, as in “we the people” left God out of the equation and that has us to where we are now. Big gov is evil, and in bed with crony run corporations and……
      Liberalism and political correctness will never fix anything, because it is based on secularism, and a Godless, i.e., human’s choices first, society.

      The “only” way to fix the problem, is for humans to accept that they can not do it alone, and pray for divine intervention. Without chaos and death, we as humans, become more worldly and refuse Christ. That is why chaos and death, associated with economic woes, will turn the hearts of “some” humans, for their own good, before it is too late.

      Most will not allow their hearts to turn, but stay loyal to the world and it’s evil ways. That is precisely why Christ will soon return to revive us from our worldly selves.

      The world soon passeth away, but truth and light reigneth forever.

      • df NJ

        No, socialism is socialism. Big government needs to enforce laws the keep markets open and free. But if you have no policing of the markets, you have banks destroying our economy because of greed.

        I will try your approach. Please God, stop the greedy bankers from making our lives a pile of crap. Okay, it didn’t work, God doesn’t care and he doesn’t listen. So now what do we do?

        You just want to wallow in your own crap because you think “government is evil”. You are just a mindless shrill for the status quo.

        • JC Teecher

          Well, I see you put me in my place…LOL!

          This is what I expect from ignorant people. See, this ain’t my first rodeo, df NJ; for I have been doing this prepper/Christian thing on many,many sites over the past ten years.

          You are entitled to your opinion and, I for one, would never try to change your mind about how you view your Creator and your (if any) relationship with Him.

          You can mock and make insults at me and it won’t change a single thing about my day. However; God will not be mocked, (at least not that it won’t be accounted for), so just remember, there will come a day, when the last trump sounds, that you will have no choice but to give account for the mockery…on your knees. Have a good trip, and I will not bother you with replies to your comments in the future.

        • Jerry C

          “The Lord is not slack concerning His promise, as some men count
          slackness, but is longsuffering toward us, not willing that any should
          perish, but that all should come to repentance.”

          You fail miserably in your ignorant assessment of who you think God is. Each day that goes by is another day some lost poor soul can accept Him. I guarantee you will regret the moment the time comes when His grace ends. You. Know. Nothing.

  • Preacher62

    Do not lay up treasures on earth, where moth and rust corrupt and thieves break through and steal. Lay up treasure in Heaven, where moth and rust do not corrupt and thieves do not break through and steal. Where your treasure is there will your heart be also.

    When the monetary system of the world collapses, those with the most ties to that system will be the ones to suffer the most. My grandparents lived through the great depression and told me on many an occasion that they had no idea that there was a depression other than from the newspapers they might see quarterly. Life just went on as usual. Irregardless, no one of us is promised tomorrow on this earth. Best to focus on where you are going to spend eternity rather than on something that you may not live to see. God Bless

    • socalbeachdude

      Best to focus on fiscal responsibility while you are alive.

      • Bill G Wilminton NC

        Best to give HIMSELF another upvote lol

  • Steeve Girard

    As I said that event is strange… abnormal…. that should have not happened before 2020.
    .
    There is one hypothesis, the money grind did not started in 2011 with the world conventional oil peak. Because the oil companies lied again and the peak happened in 2005, which means the money grind could have started in 2005.
    .
    If it’s the case then the foreshock year might be this year. I have to check this, i find this very strange.

    • socalbeachdude

      What is very strange is your comment which makes no sense at all.

      • Bill G Wilminton NC

        Who does not make sense is you…..did you just get out today or are you in between visits.

        • socalbeachdude

          Isn’t that totally obvious, dude?

          • Bill G Wilminton NC

            YUP you are in between visits……….

          • socalbeachdude

            I would suggest you take some courses in Money & Banking at your local community college sometime in the near future.

          • Bill G Wilminton NC

            OH yes another upvote to HIMSELF lol

          • Bill G Wilminton NC

            YUP its obvious you upvote YOURSELF lol

      • Bill G Wilminton NC

        another upvote to HIMSELF lol

  • Leif Erickson

    The warning bells have been ringing since 2014 and Deutsche Bank has floundered badly trying to recover. They are still making the same mistakes now as they did two years ago. The bank only had a 0.04% return on its assets back then and I believe it’s losing money now. A never-ending barrage of fines from American regulators, a stagnant European economy, and very risky investments are pulling this bank down in my opinion.. The new regulations require banks have more equity and it seems like shareholders are pulling their money out of Deutsche Bank as their stock goes lower. Lack of equity and bad loans could very well start a calamity.

    • socalbeachdude

      Nope. Deutsche Bank will do just fine.

      • Bill G Wilminton NC

        And we dont need your BS….Deutsche is in a slow motion collapse !.

        • socalbeachdude

          Nope, it most certainly is NOT and will do just fine in the future as Germany’s largest and most important bank.

          • Bill G Wilminton NC

            You are full of BS and need medication !

          • socalbeachdude

            Obviously, you are very unaware of the financials regarding Deutsche Bank and I would suggest you go inform yourself by reading their latest 2015 financial statement which you can easily Google.

          • Bill G Wilminton NC

            Deutsche Bank is so bad that they are now offering 5% for capital…..

            No debate with me you are wacked ! ! !

          • socalbeachdude

            No, they are not offering 5% for “capital” at all, and I would suggest you go research their bond offerings which have nothing at all to do with capital which comes from solely from equity investments in a company.

          • Bill G Wilminton NC

            Wrong again they are so DESPERATE that deutsche bank is offering 5% 3 month fixed deposit account to Belgians.

            The Deutsche Bank is approaching obvious insolvency !.

          • socalbeachdude

            Nope, dude.

          • Bill G Wilminton NC

            Ha ha lol what a joke the man gives himself up votes…. comical

          • Bill G Wilminton NC

            But you got your upvote to YOURSELF lol

          • Bill G Wilminton NC

            socalbeachdude get those upvotes to YOURSELF lol

          • Bill G Wilminton NC

            worthy of another upvote to HIMSELF lol

          • Bill G Wilminton NC

            socalbeachdude……gave HIMSELF another upvote….maybe when he gets to a certain number he has an awards nite for HIMSELF for upvotes lol

      • Bill G Wilminton NC

        YUP he gives HIMSELF another upvote I was worried that he forgot.

  • socalbeachdude

    Absolutely false.

    • It is spot on target, and I dare you to prove it is not. I will gladly wait for your reply!

      • socalbeachdude

        You’re the one making bogus assertions and the burden of proof is on YOU to support those bogus assertions. Hellllooo?

        • Bill G Wilminton NC

          You are a joke…..and full of BS…..helllooooo ?

          • socalbeachdude

            What is a joke is your nearly total lack of comprehension of money and banking and the HUGE role that Warren Buffett has played in the US banking system over the many years he has run some of America’s biggest banks!

          • Bill G Wilminton NC

            You are full of BS and just a buffoon sitting in front of a computer monitor and typing BS and giving YOURSELF an upvote ha ha ha ha lol lol lol lol….what a joke

          • socalbeachdude

            As I stated, please go take some courses in Money & Banking so you start understanding those concepts.

          • Bill G Wilminton NC

            100% another upvote for HIMSELF lol

          • Bill G Wilminton NC

            ANOTHER upvote for HIMSELF lol

        • Bill G Wilminton NC

          Ha ha lol another upvote for HIMSELF lol

    • Bill G Wilminton NC

      ABSOLUTELY TRUE.

      • socalbeachdude

        Obviously 100% false and laughably so!

        • Bill G Wilminton NC

          The entire banking system is insolvent and a scam………..

          • socalbeachdude

            Absolutely false and laughably so.

          • Bill G Wilminton NC

            Absolutely another upvote for HIMSELF lol

        • Bill G Wilminton NC

          laughable another upvote for HIMSELF lol

    • Bill G Wilminton NC

      Absolutely another upvote for HIMSELF lol

  • socalbeachdude

    So what? The actual amount of money involved in derivatives is less than 1% of the nominal face value of those derivatives. Are you somehow not aware of that fact?

    • Do you know what these derivatives are?

      We’re not talking ‘nominal face value’ here. We’re talking about contracts. Iron clad. The kinds of contracts that almost took us down with Lehman.

      Wake up. This isn’t a game.

      John Little
      omegashock dot com

      • socalbeachdude

        DERIVATIVES ARE NOT DEBT AT ALL and are nothing but UNREGULATED GAMBLING BETS. There are NO NET LOSSES ON DERIVATIVES AT THIS STAGE AT ALL and as to “potential losses” you refer to that is just some person’s PERSONAL OPINION and obviously that person has zero understanding that DERIVATIVES ARE A ZERO SUM GAME.

        Any and all derivative bets CAN BE VOIDED OUT and they are nothing but an UNREGULATED GAMBLING PARLOR THAT SHOULD BE TOTALLY PROHIBITED.

        Voiding out the derivatives bets at AIG is what should have been done with AIG rather than a government takeover of AIG and those issues are presently being challenged in court.

        Derivatives are CONTRACTS AGAINST THE PUBLIC INTEREST WHICH ARE UNENFORCEABLE as a matter of legal principle and can be TOTALLY VOIDED BY THE COURTS.

  • Buy Equities

    Today was it for me in my mind. The markets were set up for a drop on a technical basis and what happened? We had a huge pop higher. over all the moving averages. Investor sentiment is so low right now, it’s no wonder. When everyone is bearish or thinks a collapse is coming, BUY. And just read another article on MarketWatch that said people are yanking their money out of equities. Man this market is going to soar. Tons of cash being printed by the fed.

    • socalbeachdude

      The Federal Reserve is not “printing” a single dollar these days and is SHRINKING their balance sheet which is moving down towards the $4 trillion levels as they REVERSE QE and lower their holdings of MBS instruments. Moreover, the Federal Reserve has nothing whatsoever to do with the stock markets and 100% of the $3.6 trillion of QE funds they created from 2008 to 2014 have always remained fully INSIDE THE FEDERAL RESERVE in the reserves accounts of the banks from which they purchased existing securities.

      US Federal Reserve to Trim Assets, Dump Mortgage Backed Securities

      The US Federal Reserve is planning to reduce the size of its balance sheet by selling off mortgage-backed securities that it purchased to rescue the US economy during the 2008 financial crisis, Federal Reserve Chairwoman Janet Yellen said.

      “At the present time, we hold a large quantity of mortgage-backed securities,” Yellen said on Thursday evening. “Eventually we would like to get back to an all [US] Treasury [securities] portfolio.”

      • Buy Equities

        Sure they’re printing money. How do you think the govment is servicing the debt? Securities are a tool of LAST RESORT to boost or shrink the money supply. You’re looking in a magnifying glass at one thing.

        • socalbeachdude

          Absolutely false. The US services its $19.2+ trillion debt by ISSUING ABOUT $7 TRILLION A YEAR IN NEW US TREASURIES to repay in full those that mature and to achieve a net issuance of approximately $1 trillion a year. The interest service on that debt is currently less than $260 billion (about 6% of the federal government budget of around $44 trillion due to interest rates being near record low levels on US Treasuries.

          The Federal Reserve only owns about 14% of the outstanding US Treasuries amounting to about $2.2 trillion and the interest on those to the US government and its taxpayers is essentially FREE as the Federal Reserve rebates more than 94% of its annual profits to the US Treasury each year as it has done for the past 100+ years and the US government presently receives about $100 billion a year as a result of those rebates from the Federal Reserve.

          • Bill G Wilminton NC

            Federal Reserve has never been audited, and when the interest rates go back up to a traditional level just the interest on the debt will be close to 900 billion……all this is by design not accident.

          • socalbeachdude

            The Federal Reserve accounting records are INDEPENDENTLY AUDITED EACH AND EVERY YEAR by a top 5 public accounting firm in the US just like all major publicly traded corporations and delivers FULLY INDEPENDENTLY AUDITED FINANCIAL STATEMENTS each and every single year (as it has done for the past 100+ years) to Congress and these are all posted on their web site.

            Have you read any of these highly detailed and fully audited financial statements from the Federal Reserve?

            All interest rates that matter in the US economy are set in the US TREASURIES MARKETS and not by the Federal Reserve.

            IT DOESN’T MATTER A HOOT WHAT THE FEDERAL RESERVE DOES WITH ANY OF THE THREE INTEREST RATES THEY SET as all interest rates that matter in the US economy are SET IN THE US TREASURIES MARKETS.

            The only 3 rates that the Federal Reserve is involved with setting are:

            1) Federal Discount Rate – currently 1.00%

            2) Federal Funds Rate (which it influences) – currently the range of 0.25% to 0.50%

            3) Federal Reserve IOER (Interest On Excess Reserves) – currently 0.50%

            The ONLY applicability of the Federal Funds Rate is INTERBANK BORROWING to clear nightly transaction balances which is now practically NEVER UTILIZED as the banks are awash in trillions of dollars of EXCESS RESERVES and have no need to borrow from each other.

            As to interest rates on savings accounts, BANKS ARE AWASH WITH EXCESS CUSTOMER DEPOSITS AT A TIME WHEN DEMAND FOR BORROWING IS VERY LOW which is why interest on savings rates is so low and that is not likely to change much.

            There was indeed be a rate increase on December 16, 2015 by the Federal Reserve, not that it matters the slightest bit of a hoot, and there will be a series of about 4 interest rate hike in 2016.

            The only 3 interest rates set by the Federal Reserve have NOTHING WHATSOEVER TO DO WITH THE INTEREST RATES ON THE US GOVERNMENT DEBT as those yields (interest rates) are all set in the $12.8 trillion a year US Treasuries market and have nothing to do with the Federal Reserve.

          • Bill G Wilminton NC

            You just cut and paste info produced by the gov the same gov that says that the unemployment rate is 5% then you throw in a few ad libs. This is BS !

            Rand Paul had a bill proposed in 2015 to Audit The Fed. A real audit not a cronyism audit and this audit would especially focus on the European Bank Connection. Yellen balked extensively.

            What you fail to grasp is the corruption and complicity in the Financial Markets and this was shown in the Movie ” The Big Short “.

          • socalbeachdude

            What I stated is 100% accurate, true, and fully correct.

            Ron and Randy Paul have no concept as to actual facts whatsoever regarding those loans during the 2007-2010 time period not do they even begin to comprehend the facts regarding the Federal Reserve.

            Those were all just VERY SHORT TERM LOANS through the Federal Discount Windows that were NEARLY IMMEDIATELY FULLY REPAID WITH INTEREST and those amounts are the AGGREGATE TOTALS of all such loans for that period from December 1, 2007 through July 21, 2010.

            The top 4 accounting firms in the US are not about “cronyism audits” but are the MOST CREDIBLE AUDITS IN THE WORLD of financial and business firms and are the same accounting firms which audit both the Federal Reserve and all major US corporations to the highest of GAAP accounting standards.

            There is no connection to European banks whatsoever with the Federal Reserve and the only foreign transactions that do occur are with CURRENCY EXCHANGE SWAPS.

            I don’t fail to grasp anything, but you are broadly connecting pieces that DO NOT CONNECT AT ALL, and again, that little “The Big Short” flick had nothing whatsoever to do with the Federal Reserve but rather with some rogue financial speculators in the markets and nothing more.

          • Bill G Wilminton NC

            Ron Paul did not want an audit of The Federal Reserve cabal Ron Paul wanted The Federal Reserve cabal shut down.

            Just like Pres Jackson did but they wormed their way back in in 1913 and since that time the USA currency has lost 97% of its value.

          • socalbeachdude

            Frankly, they don’t come much more CLUELESS in politics than Ron Paul. The Federal Reserve not only costs taxpayers ABSOLUTELY NOTHING but is the single largest entity revenue source for the US government and its taxpayers delivering more than $100 billion a year in revenues to the US Treasury.

            It is one of the most prudent and conservative central banks in the world and has done a superb job over the past 103 years of managing the monetary policies in the US. Can you just imaging how frightfully hideous those policies would be had our reckless spendthrift profligate Congress that has racked up a $19.2+ trillion federal debt been left in charge?

            As to the value of the US dollar over the past 100 years…

            No, the dollar did NOT really lose 95% of its value since 1913

            Let us take at the period from 1913-2006, where we have complete data. So what do they mean, when they say the dollar lost 95.1% of its value in those 93 years? Essentially, an average good/service that cost $1 in 2006, used to be priced at 4.9 cents in 1913. In other words, the average price level of goods/services increased by 1930% since 1913. True, but guess what, average earned income increased by 6560% during the same time period. Average earned income rose from $740/yr in 1913 to $49,300/yr in 2006. Adjusting for inflation, $740/yr in 1913 is $15,000/yr in 2006 dollars. Average incomes, not only kept pace, but beat price inflation by 230%.

            So does it make any sense all to say the dollar lost value? In reality, the REAL purchasing power of the average American, has increased by 230% in the past century. Sure, prices were cheap in 1913, but $740/yr doesn’t buy you a whole lot, not anymore than 15,000/yr today.

          • Bill G Wilminton NC

            Just more BS BS BS but did not forget to give HIMSELF an upvote…lol…serious mental probs here !.

          • Bill G Wilminton NC

            Hey you forgot you upvote get back here !

          • Bill G Wilminton NC

            and another upvote ha ha lol I think we are dealing with serious mental problems…lol.

          • Bill G Wilminton NC

            and another upvote to HIMSELF

      • Bill G Wilminton NC

        The movie The Big Short showed it all.

        You give yourself up votes and cut and paste your posts……you are a joke !.

        • socalbeachdude

          That little flick focused on an extremely isolated financial incident that had nothing whatsoever to do with the Federal Reserve. Hellllooooooooo?

          • Bill G Wilminton NC

            That little flick did not show me anything I was well aware of what happened but it showed the American people the corruption and cronyism of the Financial Markets.

          • socalbeachdude

            You sure like painting with a broad brush the width of a truck rather than looking at and comprehending any of the details, don’t you? That irrelevant little flick had nothing to do with the Federal Reserve.

          • Bill G Wilminton NC

            The TRUTH paints with a broad brush !

          • socalbeachdude

            You’re not putting up anything resembling “truth” at all but rather gross disinformation which is flat out false, dude.

          • Bill G Wilminton NC

            oops another upvote for HIMSELF lol

          • Bill G Wilminton NC

            another up vote to HIMSELF lol

          • Bill G Wilminton NC

            socalbeachdude: awards another up vote to HIMSELF ! comical

  • Buy Equities

    I’m telling you right now, when the majority of people are doing something one way, you go the OPPOSITE, and you will pretty much be right 100% of the time.
    Example: CNBC was saying that load of people were betting on high volatility. So what did my stupid self do? I bought the UVXY, and proceeded to watch the VIX tank over the last two days, losing 2 grand. I should’ve followed my own advice and went the opposite. ALWAYS go the opposite of the crowd!!
    This little correction this year reminds me of 1998, and then when it was over, the markets busted higher.

    • socalbeachdude

      US stock markets have been FLAT FOR THE PAST YEAR and recently are in YOYO MODE swing frequently up 200 on the DJIA 30 (Dow) one day and down 200 the next day. Today the Dow swung up by 213 points and will likely be down by about 200 tomorrow. The bottom line is that there have been no gains on the Dow for more than 1 year and that will continue to be the case as earnings and revenue continue to plummet.

      • Buy Equities

        No disrespect, but what difference does it make if the stock market has gone sideways for a while? It happens, and does not go straightup all the time. There are consolidations along the way.

        • socalbeachdude

          The difference it makes is that the so-called “bull market” ended about a year ago and that by all measures stocks are extremely overvalued in the US markets. Have you look at PE (Price/Earnings) ratios which are at record high levels in the US markets?

          • Bill G Wilminton NC

            socalbeachdude: another up vote given to HIMSELF ! lol

      • Bill G Wilminton NC

        socalbeachdude: another up vote for HIMSELF

  • bob cratchette

    anyone still living in the fantasy that this is all going to end well is dreaming their is a collapse coming and i would be ecstatic to be wrong and hope i am but i don’t see this ending well for the usa either.

  • J B

    The Deutsche Bank did support the Nazi’s
    But today they are too Jewish to Fail. Odd isn’t Jews supporting a Bank that supported Nazi’s. It will ne propped up until 1 minute to midnight, same as Lehman. Maybe the Rothschilds will just create some money out of thin air and just buy the whole thing.

    • socalbeachdude

      The Rothschild family has nothing whatsoever to do with Deutsche Bank which is a publicly traded corporation and which is Germany’s largest and most important banking entity.

      • Bill G Wilminton NC

        The Rothschild Banking Family is the Head of the Central Banking Octopus whose tentacles reach to every corner of the world with their Central Banks.

        Our Central Bank The Federal Reserve is neither Federal nor a Reserve and is a criminal cabal.

        The Federal Reserve has never been AUDITED.

        • socalbeachdude

          Those are utterly absurd, preposterously, and totally laughable assertions. There is nothing even slightly “criminal” about the Federal Reserve in the US and it fully complies with all of the regulations and rules set forth by the Federal Reserve Act which was passed into law by Congress and signed into law by the President.

          Each and every year, as has been the case for 100+ years, the Federal Reserve issues FULLY INDEPENDENTLY AUDITED Annual Financial Statements which are extremely detailed and run around 500 pages each year. They are fully publicly available for you and anyone else who is interested in them to fully read and review on the Federal Reserve’s excellent and extremely comprehensive and detailed web site.

          • Bill G Wilminton NC

            Fiat paper is not money….we the people pay interest on paper and this illegal cabal ” The Money Changers” extends around the world.

          • socalbeachdude

            That is so laughably false as to be beyond mind boggling, dude. The US dollar is the MOST IMPORTANT MONEY IN THE WORLD and is used in 83% of all global transactions and comprised more than 63% of all global reserves and in de facto the MOST IMPORTANT GLOBAL CURRENCY EVER DEVISED. Helllllooo?

          • Bill G Wilminton NC

            Paper is not money and even the word dollar means a certain weight of gold like maybe 1/32 of an oz…..so even the word dollar that you throw around is BOGUS and so are all your words YOU ARE A BOGUS BODACIOUS BS er !.

            And socalbeachdude gives HIMSELF another upvote lol

          • socalbeachdude

            Most money today is ELECTRONIC with only a very small amount of US dollars even existing in paper form and electronic money is the best form of money ever devised as it HAS NO WEIGHT and TRANSMITS INSTANTLY AND TRANSPARENTLY FOR ALL TRANSACTIONS without any physical encumbrance whatsoever.

            NO COMMODITY IS MONEY AT ALL, BUT OBVIOUSLY JUST A COMMODITY and no commodity has any value whatsoever including gold and other commodity thingies without converting it to a real legal tender currency such as the US dollar which is by far the most preferred currency in the world and used in 83% of all global transactions.

          • Bill G Wilminton NC

            cut and paste BS !

          • socalbeachdude

            Actually, totally custom written above!

          • socalbeachdude

            What utter nonsense, dude. The US dollar is the very epitome of real MONEY and is by far the most important money in the world and is used in 83% of all global transactions. Please go buy a clue. Only DOLLARS are accepted at the clue machine by the way and obviously commodities are not accepted at all, so be sure to bring your DOLLARS.

          • Bill G Wilminton NC

            “First of all” get back here as you forgot to GIVE YOURSELF an upvote lol.

            “Second of all” the US dollar is worthless, it is borrowed into existence, it has nothing backing it……and will soon be in the wastebasket of CORRUPT CURRENCIES.

            Before the Fed Reserve Act our money was untouchable and it took over 100 years for The Rothschild banking cabal to bring us down….but the curtain will fall and soon. Our dollar has lost 97%of its value since The Fed Reserve Act of 1913.

            Over 150 years ago President Jackson had it right and shut down the Rothschild backed First Bank of the US and the Rothschild minion and traitor Alexander Hamilton was shot dead in a duel with Aaron Burr. This was the first Central Bank in the US and Jackson shut it down.

            And now while we still breath the corrupt cabal of vipers and vermin called The Federal Reserve should be shut down.

          • socalbeachdude

            There is obviously nothing “worthless” at all about the US dollar and it is the most accepted and utilized currency in the entire world accounting for more than 83% of all global transactions. No competing currencies is accepted in anywhere near the number of places as the US dollar and no currency can even vaguely challenge the US dollar for global reserve status and the US dollar represents 63% of all global currency reserves.

            The US dollar certainly is not “borrowed into existence” at all and grows in the monetary supply due to the MONEY MULTIPLIER EFFECT which applies to any and all lending but does not create the original dollars at all.

            Andrew Jackson was a total cad and classless jackass who had no decorum or manners whatsoever. On the night of his inauguration there with a drunken brawl on the lawn of the White House and into the White House which was the most appalling spectacle our capitol has ever seen. He was a very cruel and ruthless slave owner, a murderer who killed folks in hostile duels, and one of the most corrupt persons ever to occupy the office of the Presidency with his spoils system for cronies.

            The Rothschilds have nothing whatsoever to do with banking in the US with the exception of their very small boutique banking business which is focuses exclusively on wealth management and private client banking for a very limited group of clients, and they never had any significant involvement at all in banking in the US.

            The Federal Reserve is a SUPERB central bank and has served the US most admirably for nearly 103 years and will continue to do so for the foreseeable future.

          • Bill G Wilminton NC

            You are full of BS ! money is borrowed into existence that is why the DEBT cannot be paid of…….
            and another upvote for HIMSELF

          • socalbeachdude

            Absolutely false. Money is not “borrowed into existence” at all, and indeed existing DEBT CAN BE REPAID with the proceeds going back to the creditors to be used for other purposes including investing and new lending.

          • Bill G Wilminton NC

            The Rothschilds are common blood suckers and the head of the snake.

            The Federal Reserve was started by a cabal of snakes and vermin and is the tool to bury this country in unpayable DEBT.

          • Bill G Wilminton NC

            The dollar is backed by nothing but air….

            In 71 Nixon took us off gold standard….

            In the pre 1971 days of the gold standard.. countries could return their DOLLARS for GOLD and General De Gaulle did just that over a two year period he flew Frances dollars back to the US and flew GOLD back to France. He did this because the Fed was creating inflation by printing money….De Gaulle forced the US of the gold standard and justifiably so as the currency was being debased just as today.

          • socalbeachdude

            Both of your assertions are totally false.

            The US dollar, like all currencies, is backed by the current and future assets and labor and productivity of the citizens of the issuing government which is VASTLY MORE VALUABLE than some little junk commodity such as gold or silver.

            The so-called “gold standard” was a very brief 60 year experiment from 1873 until 1933 which proved to be a VERY STUPID AND ABYSMAL FAILURE at which point it was thrown into the garbage bin of the most stupid notions in the history of the world and incinerated.

            The US long used a “silver standard” until that was discarded around 1870 and briefly replaced with the so-called “gold standard” which was totally discarded domestically in the US in 1933 as an entirely failed experiment. No currency can be limited to the production of some irrelevant “thingy” commodity such as gold or anything else when the population of that currency’s country is vastly expanding as was the case of the US by the 1930s.

            Nixon did not “abandon gold” at all. Nixon merely ended the Bretton Woods currency fixed exchange rate agreement which had been in force from 1944 to 1971.

            Nixon had nothing to do with the “gold standard” in the US which had long ago been TOTALLY DISCARDED BY THE US DOMESTICALLY back in 1933 and only a tiny shred of gold nonsense was even left in the form of international bank transaction convertibility which is what was discarded in 1971.

            Artificially constraining the growth of money supplies while the population is growing substantially CAUSES DEPRESSIONS and causes countries to fail economically.

            Moreover, the US dollar is backed by the full faith and credit of the US government and the US economy is by far the largest single country economy in the world.

          • Bill G Wilminton NC

            The dollar is backed by a bankrupt US government and the US economy is not the largest economy in the world it is now China.

            The growth of the money supply can easily match the growth in population…but the government is regulated by a set money supply and cannot start wars without financing approval from congress and cannot start funding social welfare projects like President Johnsons GREAT SOCIETY and this continued bankrupting of this once great country.

            Nixon took us off the gold standard so that no country and most definitely France’s De Gaulle could not fly billions of dollars in to be converted to gold bars and flown back out. NIXON ENDED THE GOLD STANDARD !

          • socalbeachdude

            The US government is not in any way bankrupt at all and has never once defaulted on its government debt. The US economy is by far the largest single country economy in the world with a GDP of over $18 trillion, whereas China’s economy is about half the size of the US economy with a GDP of only around $10 trillion and with much of that GDP bogus. US government debt to GDP is a relatively low 105% which is in line with that of the EU of around 100% and vastly lower than Japan’s government debt to GDP ratio of 250%.

            China’s remnimbi (RMB/Yuan) is the MOST EGREGIOUSLY OVERPRINTED CURRENCY IN THE WORLD and China has created more than $30 trillion of it over the past 10 years increasing their money supply from less than $3 trillion to now nearly $34 trillion despite the fact that their economy is only about half the size of the US economy of $18 trillion. The US money supply, by stark contrasts, consists of only $3 trillion in M1 with less about only $1.2 trillion in the form of printed currency, and about $13 trillion in M2. The renmimbi (RMB/Yuan) has become a preposterous joke of a currency as China has treated it just like fake monopoly money and that is precisely where its value and utility is headed.

            Military spending is a relatively small part of the US government budget and including the “wars” amounts to about 20% of the annual US government budget whereas welfare and health expenses including Social Security and Medicaid account of 63% of the annual federal government budget.

            Nixon merely ended the Bretton Woods currency fixed exchange rate agreement which had been in force from 1944 to 1971.

            Nixon had nothing to do with the “gold standard” in the US which had long ago been TOTALLY DISCARDED BY THE US DOMESTICALLY back in 1933 and only a tiny shred of gold nonsense was even left in the form of international bank transaction convertibility which is what was discarded in 1971.

          • Bill G Wilminton NC

            socalbeachdude: always gives HIMSELF an upvote WTF lol comical.

      • Bill G Wilminton NC

        socalbeachdude: gives himself another up vote lol

  • Dave of OK

    It is interesting that the two countries that were our enemies in World War 2 are now the two countries sitting perilously close to financial ruin. If they both go in the hopper, we could see a remilitarization of them both. Which would be ironic. What goes around, comes around.

    • socalbeachdude

      While Japan is indeed the most insolvent country in the world except for China, Germany is an extremely prosperous country and is the shining star of all countries within the European Union and EuroZone in terms of prosperity.

      • Bill G Wilminton NC

        socalbeachdude: gives himself another up vote comical

  • Guest

    Several banks are being sued for their role in the LIBOR scandal. DB is one of them.

    • socalbeachdude

      That doesn’t mean there is any merit at all in any of those lawsuits.

  • Bill G Wilminton NC

    OH, OK you give yourself your upvote here….we were concerned that you were cheating yourself !

  • socalbeachdude

    Give it a couple of weeks and the highs certainly will be gone as markets plunge!

    • Bill G Wilminton NC

      oops missed this one: and another upvote for HIMSELF lol.

  • socalbeachdude

    The only 3 interest rates set by the Federal Reserve DO NOT MATTER A HOOT in the US economy and obviously have NOTHING WHATSOEVER to do with the price of gold which is a preposterously elevated little niche fungible collectible commodity whose proper price is somewhere south of its mean of $456 per ounce.

    • Bill G Wilminton NC

      yup another upvote to HIMSELF lol

    • Aaron Pray

      lol ok keep thinking that

      • socalbeachdude

        What I stated is absolutely correct.

  • socalbeachdude

    None of those banks are in any way “owned or controlled” by the Rothschilds Family at all. Why put up such utter nonsense as that?

  • socalbeachdude

    Unregulated derivatives are just a bunch of gambling bets that are a ZERO SUM GAME, and no, taxpayers would not be in any way liable at all for them. In the worst possible scenario, ALL DERIVATIVES BETS COULD SIMPLY BE VOIDED which is what should have been done back in 2008. Very little actual money is even involved in the unregulated derivatives gambling game.

    As to 2008-2009, in fact, the real issue with liquidity issues in 2008 had very little to do with the actual balance sheets of the banks but had a everything to do with the implementation of the FASB RULE 157 “MARK TO MARKET” requirement that had just been imposed and all of the perceived problems with financial concern balance sheets totally vanished when FASB RULE 157 was essentially abolished (it was highly modified to remove “mark to market accounting”) by March 2009. The so-called “financial crisis” of 2008 to early 2009 was REALLY JUST A TOTALLY BOGUS “CRISIS” caused by accounting rules.

    No financial concerns were “saved by any bailouts” at all in 2008-2009. There was NO NET COST WHATSOEVER FOR ANY OF THOSE BAILOUTS to either the federal government nor to the Federal Reserve, but rather a profit to each of those parties which created a MAJOR EXPENSE FOR ALL OF THE FINANCIAL CONCERNS INVOLVED.

    • Volatility Smile Spreader

      Brilliant call on silver lower – headed to $8 = ROFL

      • socalbeachdude

        Silver could easily go much lower than $8 per ounce, perhaps as low as $4 per ounce where it was in 2004.

        • Bill G Wilminton NC

          ha ha lol and he awards HIMSELF another upvote lol

    • Bill G Wilminton NC

      Incorrect……the bets are are all connected ……as these derivatives are used to hedge these bets….thus one set of bets is secured by another set (derivative) of bets. If Deutsche Bank collapses any and all of their Derivative bets will collapse and will start a domino affect on the Derivative world also called The Black Death Star by many realists in the Financial World.

      The five major banks in NYC were saved by the bailouts ! The financial crises of 2008-2009 was NOT a bogus crises as this wackadoo proposes.

      And another upvote given to HIMSELF lol

  • socalbeachdude

    As to China, it is the MOST FISCALLY IRRESPONSIBLE COUNTRY IN THE WORLD AND IS DROWNING IN UNPRECEDENTED PRINTED MONEY AND DEBT with debt presently at over 350% of Chinese GDP.

    China has not “followed the US style of QE” at all, but rather has created more than $30 trillion in new money and credit over the past 10 years increasing their money supply to over $34 trillion despite their economy being about half the size of the $18 trillion US economy where the total M2 money supply is only about $13 trillion. China has blown the most unprecedented money/credit bubble in the world and has no competition at all in that regard from any other country and now that money/credit/debt bubble is imploding and is of such enormous size that the results will be quite adverse.

    China’s holdings of US Treasuries remain BARELY CHANGED right around $1.3 trillion and they do keep buying US Treasuries to replace those that mature all the time in order to keep the total outstanding balance right around the same amount which they NEED TO SUPPORT LETTERS OF CREDIT FOR TRADE.

    There will be no “gold backing” of the renminbi (RMB/Yuan) and that notion is totally IMPOSSIBLE as the total value of all of the gold ever mined in the world amounting to around 180,000 metric tonnes is less than $7 trillion and about 70% of that is privately owned in JEWELRY widely dispersed around the world, while the total global GDP is now in excess of $72 trillion and total global assets are approaching $800 billion and the total value of all of the gold in existence is less than 1% of global assets.

    The remnimbi (RMB/Yuan) is the MOST EGREGIOUSLY OVERPRINTED CURRENCY IN THE WORLD and China has created more than $30 trillion of it over the past 10 years increasing their money supply from less than $3 trillion to now nearly $34 trillion despite the fact that their economy is only about half the size of the US economy of $18 trillion. The US money supply, by stark contrasts, consists of only $3 trillion in M1 with less about only $1.2 trillion in the form of printed currency, and about $13 trillion in M2. The renmimbi (RMB/Yuan) has become a preposterous joke of a currency as China has treated it just like fake monopoly money and that is precisely where its value and utility is headed.

  • Bill G Wilminton NC

    The notional value vs the real value is usually much higher in the off hours but then the contracts cancel each other out as the risk factors begin to multiply but this notional value does help the real value according to a survey from The Bank for International Settlements. lol

    And socalbeachdude gives HIMSELF another upvote lol

    • socalbeachdude

      The notional value of derivatives has nothing whatsoever to do with the hours in which it is traded but is the STATED FACE VALUE of the underlying derivatives contract. Hellllooooo?

      • Bill G Wilminton NC

        That post was a total madeup BS post just like your posts……just gobblegook words out of your post.

        And you posted on the BS post…ha ha lol

        Maybe Professor Irwin Corey can help you

        And you gave YOURSELF another upvote on the BS post lol ha ha lol

        • socalbeachdude

          Consistent with all of your posts “as a total madeup BS post just like your posts …… just gobblegook words” — to quote you.

  • Bill G Wilminton NC

    Cut and paste a bunch of disconnected BS and I “get” the fact that you are a wackadoo !.

    And another upvote for HIMSELF lol

    • socalbeachdude

      Hardly, but you certainly fit that description.

    • Guest

      I have been researching some of what this guy is saying. Of the things he has said which I researched, he has proven he really has no idea what he is talking about. If this is what he is being taught in university, all I can say is wow. Talk about indoctrination. And doesn’t he know Wikipedia is an inaccurate source of information? The reason he does not take up anybody’s challenge on his information and sources etc. obviously is because he is using only with what he was indoctrinated, er, I mean, taught. Truly pitiful, I think is a word he used. Just pitiful.

      • socalbeachdude

        Your assertions are totally false. Everything I have posted here is 100% accurate, true, and correct. If you are of the opinion that anything I have stated is not fully correct, please point out specifically what you think is not fully correct and I will respond to you.

        • Guest

          You do realize that while you ask me for my reasons for making my *assertions and opinions*, you have not provided anybody with the sources of your information (book, article, etc.) as requested, with the one exception being a Wikipedia page. I personally don’t count Wikipedia as a source of accurate and reliable information. I should have directed my comment to you personally to begin with. For that I am sorry, please accept my apology.

          And no, I will not indulge you. In addition to the paragraph above, I don’t believe that you are being genuine.

          • socalbeachdude

            So, you can’t find a single point that I have stated that you can in any way refute.

            Why am I not the least bit surprised?!!!

          • Guest

            Yes, I have found holes your arguments, and after having researched even more, I am inclined to think that you are either a university student who is unquestioningly repeating what he has been taught, at best; at worst, which I am more leaning towards, a bankster shill.

            I am satisfied with my research, thank you. I will still not indulge you, and I will not provide you another opportunity to sow more mis and disinformation.

            By the way, when a person constantly and aggressively defends himself and feels the need to tell people how right they are, and everyone else is wrong, that person reveals he is trying to push an agenda.

            Have a nice day.

          • socalbeachdude

            Once again you have not stated a single point that I have made that you actually refute but just made broad sweeping assertions with no basis in fact whatsoever. My only “agenda” is having people understand the actual facts and correct information regarding the Federal Reserve which should be quite obvious.

  • socalbeachdude

    Deutsche Bank AG stock [DB] soared today, 05/25/2016, and closed at 17.99 USD up 0.62 (3.57%).

  • socalbeachdude

    Warren Buffett has always been a MAJOR PLAYER IN THE BANKING INDUSTRY and has owned and run the biggest banks in the US involved in most of the “action” in derivatives. Warren’s holdings through Berkshire Hathaway currently included both BAC (Bank of America) and Wells Fargo and Warren has acted in the past as Chairman of Salomon Brothers and has always been integrally involved with Goldman Sachs since day one.

  • Guest

    Here is another article on bankster criminals.

    • Guest

      See below, sorry.

  • socalbeachdude

    LIBOR (London Inter Bank Offered Rate) has been the focus of much controversy and legal wrangling over the past years and is set by a very complex process of banks in London submitting estimated closing prices on 25 TIERS OF RATES which are then partially aggregated to determine “actual” rates in each of the term ranges in London.

    All of these lawsuits on LIBOR have no merit at all and are based on a total lack of understanding as to how LIBOR is set and works.

    • Guest

      I understand that it is a complex system, and it is exactly because of its complexity that fraud can occur. You read about my experiences. In Alberta, the o&g sector has an unwritten rule that everyone *agrees* on, or at least they did. Nobody reports raw data on reserves, but after its ready for market. I don’t don’t remember the lingo, it’s been so long, sales gas or something like that. The executives of BRRC reported raw data, thus making their reserves look rather robust. The entire industry assumed they were playing by the unwritten rule. If the market hadn’t gone sour the way it did, they would have come out like kings. I believe that dishonesty will be found out eventually. There was other stuff going on, I won’t get into it. As I was reminiscing, I remembered that people who worked for that company had a hard time finding work after that. I went to the service side, which helped. I really do enjoy getting into this, thanks for the opportunity to do some research. I forgot about this stuff, as I changed careers.

      I hope you are one of the honest people. I have witnessed too many greedy, fraudulent ones who took advantage of the system.

      • socalbeachdude

        Yes, I am a meticulously honest person and have no role in the banking system other than being a Private Banking Client of JPMC. I have been highly interested in the banking system and the Federal Reserve since my University days way back in the day in the 1970s so I have seen a lot along those many years and decades.

        The issue with LIBOR is that few folks understand just how enormously complicated it is and that it involves 25 tiers many of which don’t even have current transactions on any given day. In this day of real time computers, it is highly obsolete and the BOE (Bank Of England) should come up with a far more clear and accurate measure of banks reporting interest rates on a daily basis to determine the LIBOR rate and that information should be fully public.

        Another issue with LIBOR is that it is far more important to real world by far than the only 3 interest rates set by the Federal Reserve as it has a direct affect on mortgage rates and many other financial instruments with are keyed directly off the prevailing LIBOR rates unlike the Federal Reserve rates.

        Reuters recently discussed this in a very interesting article and stated:

        Who needs the Fed? The rate hike cometh on its own

        NEW YORK (Reuters) – As traders, market pundits and economists jaw over whether the Federal Reserve this year will lift its benchmark lending rate for the first time in almost a decade, several corners of the U.S. bond market are not waiting around.

        A wide range of short-term interest rates, which tend to be the most sensitive to Fed policy expectations, has been quietly grinding higher for weeks, or in some cases much longer. Several have even surpassed their levels of two years ago during the bond market’s “taper tantrum,” when prices dropped steeply and yields shot up as the Fed pondered whether to halt its massive asset-purchase program.

        The yield on two-year Treasury notes, at 0.73 percent on Thursday, was just a tick from a four-year high and more than three times that of May 2013. Rates on T-bills with durations of less than a year are at their highest so far this year.

        The federal funds effective rate, which the Fed seeks to control, has averaged 0.14 percent for four days in a row, matching its highest since May 2013.

        Another key rate, the three-month London interbank offered rate, or Libor, a benchmark for $350 trillion worth of financial products worldwide, topped 30 basis points on Wednesday for the first time since January 2013. On Friday, Libor rose the most since 2011.

        • Guest

          Good to hear, the meticulously honest part. I had similar thoughts as you regarding cleaner and more public reporting as I was reading through articles.

          Do you have a website or blog? Thanks.

          I am going to end my conversation now, as I have spent waaaaay too much time on this. Have a great day.

  • socalbeachdude

    London jury acquits six brokers of Libor fraud

    A jury acquitted six former brokers of fraudulently trying to manipulate a widely used benchmark interest rate, dealing a major blow to a yearslong international investigation.

    The jury on Wednesday reached unanimous verdicts to acquit five of the brokers–former ICAP PLC brokers Colin Goodman and Danny Wilkinson, former R.P. Martin brokers Terry Farr and James Gilmour, and former Tullett Prebon broker Noel Cryan–on all counts. The sixth broker, ICAP’s Darrell Read, was acquitted on one count of conspiring to defraud, but the jury is still deliberating on another count against him.

    All six men were accused of conspiring with former UBS Group and Citigroup Inc. trader Tom Hayes of trying to rig the London interbank offered rate, or Libor. Mr. Hayes was convicted and sentenced to 14 years in prison last August, although the sentence was subsequently reduced to 11 years.

    The acquittals set of a scene of jubilation and tears in the courtroom, as the six brokers exchanged hugs and fist bumps and shouts of excitement with themselves, family members and lawyers.

    • Guest

      OJ Simpson’s family members, lawyers, etc. we’re ecstatic about his acquittal, too, even though it was obvious he was guilty. If any of these people were in anyway, in fact, guilty, it WILL catch up with them.

  • socalbeachdude

    Here are some banks to really worry about: Spain. The ECB’s policy of pushing bond yields to the lowest in history is killing banks there along with the huge load of NPL (Non Performing Loan) assets they have on their books and Wolf Street details these extreme problems with Spanish banks and an except is below:

    The Banking Crisis in Spain is Back – Wolf Street

    The shares of Banco Popular got crushed.

    After three years of relative calm and one month before yet another round of do-or-die general elections, the words “banking” and “crisis” are back on the front pages of Spain’s newspapers. Despite the untold billions of euros of public funds lavished on “cleaning up” their balance sheets and the roughly €240 billion of provisions booked against bad debt since December 2007, the banks are just as weak and disaster-prone as they were four years ago.

    Francisco González, the President of Spain’s second biggest financial institution, BBVA, was the first to raise the alarm, warning a few days ago that the ECB’s negative interest rate policy “is killing” European banks.

    Spain’s sixth largest financial institution, Banco Popular, on Wednesday evening announced that it was urgently seeking to raise €2.5 billion in capital in order to shore up its finances.

    The market’s response to the latest news was emphatic. The bank’s shares plunged 25% Thursday morning. There was not even the barest flicker of a recovery on Thursday afternoon. On Friday, the stock dropped another 8.2%, to close at €1.59 per share, its lowest in 26 years. Over the three days, the stock plummeted 32%.

    • Guest

      Ouch.

      • socalbeachdude

        Yep.

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