Deutsche Bank is down nearly 7% in German trade, death spiraling towards oblivion. With a market cap of $18 billion and balance sheet of $1.8 trillion, no bank in the history of the world has ever been more leveraged.
I’m making no assumptions about the big German bank, other than stating the obvious. Things have gotten progressively worse since the Greek debt crisis and have been exacerbated to the downside with negative rates. The Germans will end up hanging themselves by their own petard.
US futures are down more than 100. Both gold and silver are higher and treasuries have hit record highs, as investors seek safe haven.
Over in Europe, the Italians are getting it worst, off by nearly 2.5%.
The Japanese yen is getting woefully close to the 100 mark to the dollar, now trading at 100.65, -1.1%.
Without question, a crisis of monumental proportions is building. Board the ark.
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zombie, die already!
Time for a moment of pedantry: did you mean exacerbated?
That’s what I wrote.
Little flashback
Quality Control Inferno June 28, 2015 at 6:35 pm
$DB is going to go bankrupt this year. Will they be bailed out? Just watch.
it is showtime June 28, 2015 at 8:53 pm
Lehman 2 yeehaw