ie
'So Many Triggers on Deutsche Bank (which is
essentially dead in the water and bringing the
world down)'
by Jeff Thomas
https://www.internationalman.com/articles/so-many-triggers "The German government has stated that they will not bail out (me-
the
collapsing) Deutsche bank and, indeed, under the EU agreement,
they cannot do so. It’s safe to say that Germany’s largest bank will soon
go the way of the dodo (bird).
For those who don’t live in Europe, this may not seem all that significant.
However, Deutsche is the bank that funds the euro system, which they can
now no longer do. Further,
Deutsche is ten times larger than Lehman
Brothers, an American bank that famously went down in 2008, heralding
in that year’s economic crash.
(Ninety percent of Deutsche’s revenue has
been from derivative trading, which is what brought down Lehman.
) Upon the collapse of Deutsche Bank, four major US banks would be
expected to become insolvent in a matter of days. The ripples would then
continue to spread outward into the economic system as a whole.
Now for the Bad News (me- or bad news on top of the bad news)
For many years, I’ve made repeated reference to the fact that the Western
powers have been headed south economically, repeatedly relying on
strategies that would provide short-term gain but would ultimately create
long-term pain. They’ve been remarkably consistent and steadfast in this
trend and, at this point,
Deutsche is merely the latest trigger that may bring
down the system.
The other potential triggers are as serious as they are
diverse.
-Recently, foreign governments have been selling US Treasuries back into
the US market at the fastest rate in history (indicating their belief in a future
devaluation of the dollar).
-The Dodd-Frank Act of 2010 was intended to legally end the possibility of
quantitative easing. It did, however legalise the bail-in, authorizing banks
to confiscate (steal) deposits. In other countries where a bail-in has been
introduced, governments additionally seized pension funds, retirements,
etc., often paying for them either with stocks in a failing bank or a bond,
then defaulting on the bond.
-The stock market is in a larger bubble than in 2008 and is overdue for a
crash.
-Bonds are in their largest bubble in history and are also overdue for a
crash.
-Derivatives, which triggered the last major crash, are now at a higher level
than in 2007, indicating yet another overdue trigger.
-Much of the world is moving away from the petrodollar, which is significantly
responsible for the continued hegemony of the US dollar internationally.
Many countries now routinely effect payment for fuel in other currencies.
-Russia has recently announced the creation of its own SWIFT system (as
did China not long ago), making it possible for them to effect international
payments without the need to go through SWIFT in Brussels, which is
largely controlled by the US.
-On 15th March, the US hit its debt ceiling and can no longer legally continue
to borrow money. It’s estimated that the money remaining in the Treasury
will be exhausted on 1st June. After that point, if major money transfusions
do not take place, the US government ceases to fund itself, its many agencies,
and its entitlements. (There apparently is no plan in place that could provide
sufficient funding.)
These are just a few select high points,
and there are quite a few other
triggers out there, any of which, if pulled, would serve to collapse the (world)
economy very quickly. And the list keeps growing."