UN warns of EPIC debt defaults

[singular_me]

should be obvious by now that speculation is only possible with a fraud at its core as value will forever remain subjective, hard money or not. Fiat just makes it a lot worse. Speculation is thus embedded in monetarism and cannot be prevented..

the bottom line is that the closer the economy remains to a zero-sum game, the more social equilibrium.
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Top Bank Fraud Expert: ALL of the Big Banks’ Profits Come from FRAUD
24 September 2016 GMT

The country’s top white collar crime expert, William Black – who put over 1,000 top S&L executives in jail for fraud, and is a professor of law and economics at the University of Missouri – confirmed recently what the alternative media has been saying for years: the business plan of Wall Street is fraud. That’s their key profit center.

Black also says that a British parliamentary investigation Tories found that all of the retail profits of the largest banks in the UK came from fraud.


https://www.youtube.com/watch?time_continue=1051&v=Y_E35bbFP1E

more
http://www.washingtonsblog.com/2016/09/top-bank-fraud-expert-big-banks-profits-come-fraud.html

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UN warns next global financial crisis may include huge debt defaults
Published time: 23 Sep, 2016 14:16

If the global economy enters a new economic crisis it may lead to epic debt defaults, according to trade economists at the United Nations.

“As capital begins to flow out, there is now a real danger of entering a third phase of the financial crisis which began in the United States housing market in late 2007 before spreading to the European sovereign bond market,” the annual report of the UN Conference on Trade and Development (UNCTAD).

Following the 2008-2009 crisis, developing countries faced a huge influx of cheap credit. The process was heated by quantitative easing programs in the developed nations.


After the economic contraction of 2008-2009 the developing countries, including large emerging economies such as Brazil, Russia and South Africa, are still fighting to get back to the previous tempo of economic development.

Damaging deflationary spirals cannot be ruled out, with the economy shrinking to cause a slump in prices and further GDP contraction, the UNCTAD experts say.

https://www.rt.com/business/360402-un-global-financial-crisis-defaults/?utm_source=browser&utm_medium=aplication_chrome&utm_campaign=chrome

[Horn]

Sounds like more import taxes are going to be included somehow to fix.

[singular_me]

unless the EU taxpayers comes to the rescue to patch the system for a while, that could very be the first serious domino

===============

The €72 trillion (notional) derivatives mess known as Deutsche Bank remains under severe pressure. It’s market cap is $17.43 billion. It has no earnings and pays no dividend.

On April 23, Deutsche Bank was Fined $2.5 Billion over LIBOR rate rigging. Twenty-one people face criminal charges following a seven-year investigation.

On September 16, the US Department of Justice Fined Deutsche Bank $14B for mortgage securities fraud leading up to the 2007-2009 global meltdown. Today, German Chancellor Angela Merkel Rules Out Assistance for Deutsche Bank.’

Read more: Merkel Says No Aid for Deutsche Bank; Depositor Bail-In Coming Up?
Middleton noted Deutsche Bank has over $2.5 trillion in derivatives exposure that needs to be rolled over.
https://mishtalk.com/2016/09/24/merkel-says-no-aid-for-deutsche-bank-depositor-bail-in-coming-up/


Is Deutsch Bank Prepping for an Avalanche of Fraud Charges on its Gold Derivative Products?
http://www.zerohedge.com/news/2016-09-04/it-appears-deutsche-bank-prepping-avalanche-fraud-charges-including-its-gold-derivat

[Horn]

This of course would not be anything new to the E.U. for the last 3000 years.

in fact they are held in an elevated position because of it, the rest of the world actually has to work to pay of their debt.

[singular_me]

OHOHHHOO... is the time to fasten our seat belts getting closer?

================

Deutsche Bank Is Going Under: The Real Reason Germans Were Told To Prepare For A National Crisis?
28 September 2016 GMT

‘There is a very real possibility that Deutsche Bank is going down.

If the most prominent bank in Germany fails, the effect on Europe will be profound, and I don’t think the United States will escape the effects. The ripples will turn into a tsunami as they travel across the Atlantic. Already, the bank’s troubles have stressed the American stock market.

Angela Merkel has stated that Deutsche Bank will not be getting a bailout from the European Central Bank – the lender of last resort for European banks.’

http://www.activistpost.com/2016/09/deutsche-bank-going-under-real-reason-germans-told-prepare-national-crisis.html

[Neuro]

No worries, Turkey is coming to the rescue of Deutsche Bank!
http://www.bloomberg.com/news/articles/2016-09-28/erdogan-adviser-says-turkey-should-consider-buying-deutsche-bank

OMFG! ;D I am laughing so hard I am getting stomach cramps!

[Neuro]

No worries, Turkey is coming to the rescue of Deutsche Bank!
http://www.bloomberg.com/news/articles/2016-09-28/erdogan-adviser-says-turkey-should-consider-buying-deutsche-bank

OMFG! ;D I am laughing so hard I am getting stomach cramps!
Have to copy the text before its disappeared:

Erdogan Adviser Says Turkey Should Consider Buying Deutsche Bank
Isobel Finkel
is_fink
September 28, 2016 — 5:53 PM EEST
Share on FacebookShare on Twitter
Deutsche Bank AG Internal Probe Into Possible Money Laundering
The headquarters of Deutsche Bank AG in Frankfurt. Photographer: Martin Leissl/Bloomberg
Plan would turn Germany’s largest lender into ‘Turkish Bank’
Wealth fund or state bank conglomerate could buy, Bulut says
Deutsche Bank AG’s crashing share price is prompting takeover speculation from unexpected places.
Yigit Bulut, a chief adviser to Turkish President Recep Tayyip Erdogan, said the country must consider using a new wealth fund or a group of state-owned banks to buy the Frankfurt-based company. Bulut made the proposal on Tuesday via his Twitter account, saying Germany’s largest lender should be made into a Turkish bank.
The stock of Europe’s biggest investment bank has slumped by more than 50 percent over the past year, falling to a record low on Tuesday, over concerns about its weakening financial position and penalties in the U.S. tied to mortgage-backed securities. Bulut’s comments come after Moody’s Investors Service on Sept. 23 cut Turkey to junk, citing slowing economic growth and deteriorating credit fundamentals.

[madfranks]

I didn't know Turkey had that kind of money! Buying out Deutsche Bank can't be cheap!

[singular_me]

Looks like they still have the means to slush the world debt around... ROLOL

neuro' stomach cramps are contagious

[Joshua01]

I didn't know Turkey had that kind of money! Buying out Deutsche Bank can't be cheap!
It's a lot cheaper these days

[Neuro]

I didn't know Turkey had that kind of money! Buying out Deutsche Bank can't be cheap!

Well buying it is cheap, the problem is the liabilities that come with it. The price of Deutsche bank as it is valued right now on the stock exchange is around $15 Billion. It's asset sheet is around $1.66 Trillion, and it was just fined $14 Billion from the US

[Horn]

That's wonderful of turkey to purchase Germany's debt, only the greatest of nations do stuff like that of their own free will....

wonder who held the knife to their throat?

[singular_me]

Britain turned into ANOTHER safe haven experiment?
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Most Important EU Bank Collapsing: Deutsche 'Entering Death Spiral, Impossible to Stop'
5 October 2016 GMT

‘The largest and most important bank in the largest and most important economy in Europe is imploding right in front of our eyes. Deutsche Bank is the 11th biggest bank on the entire planet, and due to the enormous exposure to derivatives that it has, it has been called “the world’s most dangerous bank“.

Over the past year, I have repeatedly warned that Deutsche Bank is heading for disaster and is a likely candidate to be “the next Lehman Brothers”. If you would like to review, you can do so here, here and here. On September 16th, the Wall Street Journal reported that the U.S. Department of Justice wanted 14 billion dollars from Deutsche Bank to settle a case related to the mis-handling of mortgage-backed securities during the last financial crisis.’

As a result, Deutsche Bank is potentially facing a “liquidity event” on a scale that we have not seen since the financial crisis of 2008. The following comes from Zero Hedge…

It is not solvency, or the lack of capital – a vague, synthetic, and usually quite arbitrary concept, determined by regulators – that kills a bank; it is – as Dick Fuld will tell anyone who bothers to listen – the loss of (access to) liquidity: cold, hard, fungible (something Jon Corzine knew all too well when he commingled and was caught) cash, that pushes a bank into its grave, usually quite rapidly: recall that it took Lehman just a few days for its stock to plunge from the high double digits to zero.

It is also liquidity, or rather concerns about it, that sent Deutsche Bank stock crashing to new all time lows earlier today: after all, the investing world already knew for nearly two weeks that its capitalization is insufficient. As we reported earlier this week, it was a report by Citigroup, among many other, that found how badly undercapitalized the German lender is, noting that DB’s “leverage ratio, at 3.4%, looks even worse relative to the 4.5% company target by 2018″ and calculated that while he only models €2.9bn in litigation charges over 2H16-2017 – far less than the $14 billion settlement figure proposed by the DOJ – and includes a successful disposal of a 70% stake in Postbank at end-2017 for 0.4x book he still only reaches a CET 1 ratio of 11.6% by end-2018, meaning the bank would have a Tier 1 capital €3bn shortfall to the company target of 12.5%, and a leverage ratio of 3.9%, resulting in an €8bn shortfall to the target of 4.5%...................
http://theeconomiccollapseblog.com/archives/deutsche-bank-collapse-the-most-important-bank-in-europe-is-facing-a-major-liquidity-event

=====================

‘Unprecedented central bank monetary policies such as negative or zero rates have turned financial markets into a casino, said bond investor Bill Gross of Janus Capital. He recommends investors switch to gold and Bitcoin, if they want to keep their money.

“Our financial markets have become a Vegas/Macau/Monte Carlo casino, wagering that an unlimited supply of credit generated by central banks can successfully reflate global economies and reinvigorate nominal GDP growth to lower but acceptable norms in today’s highly levered world,” Gross said in his ‘Doubling Down’ investment outlook.
https://www.rt.com/business/361575-central-banks-vegas-casino/?utm_source=browser&utm_medium=aplication_chrome&utm_campaign=chrome

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Backtracking IMF admits UK is fastest growing G7 economy, despite post-Brexit recession warning
https://www.rt.com/uk/361573-brexit-imf-economy-pound/?utm_source=browser&utm_medium=aplication_chrome&utm_campaign=chrome

[singular_me]

listening to the well educated black guy in the podcast right now. He talks a lot about derivatives, which are about 2 quadrillion in notional value as of today. Luckily, lets repeat it: "notional"

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The New 'Too Big To Fail' - EU Proposes Taxpayer-Funded Derivatives System Bailout
7 October 2016 GMT
http://www.zerohedge.com/news/2016-10-05/new-too-big-fail-eu-proposes-taxpayer-funded-derivatives-system-bailout


Reggie Middleton "When Deutsche Bank Collapses, It Will Bring The European Economy Down With It!

https://www.youtube.com/watch?v=Z6QJ-FATwVQ

[singular_me]

my guess is that within the 6 months following the elections, we'll get another a 2008 type of liquidation remake
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Deutsche Bank Scandal: Enron 2.0

https://www.youtube.com/watch?v=TLO2PN1Hr1Q