The Deutsche Bank Death Watch Has Taken A Very Interesting Turn
The comments below are an edited and abridged synopsis of an article by Michael Snyder
The biggest bank in Europe is imploding, and there are rumours that the collapse is imminent. Deutsche Bank is bleeding cash, laying off thousands of workers, and executives are desperately trying to implement a turnaround plan.
Unfortunately for Deutsche Bank, it may already be too late. And if it goes down, it will be even more catastrophic for the global financial system than the 2008 collapse of Lehman Brothers. Germany is the glue holding the EU together, so if the bank at the heart of Germany’s financial system collapses, the dominoes will start falling rapidly.
Deutsche Bank has been losing money at a staggering pace. The losses for the second and third quarters of 2019 make a grand total of nearly 4 billion euros. How is it possible to lose that much money in just six months?
When investors learned of Deutsche Bank’s third-quarter results, shares of the bank went down about 8% in a single day. Overall, the stock price has lost over a quarter of its value over the past year.
We also know that Deutsche Bank has been laying off thousands of workers all over the world.
Just as with Lehman Brothers, there is always an effort to maintain the charade until the last minute. But anyone can see that Deutsche Bank is dying. There have been so many bad decisions, so many aggressive bets gone bad, and there has been one scandal after another.
Deutsche Bank is the largest domino in Europe’s shaky financial system. When it collapses, it will set off a chain reaction that no one will be able to stop. David Wilkerson has warned that the financial collapse of Europe would begin in Germany, and Jim Rogers has warned that the implosion of Deutsche Bank will cause the entire EU to disintegrate.
Those who understand the times we live in are watching Deutsche Bank carefully because if it implodes, global financial chaos will certainly follow.