Urgent information on Deutsche Bank…
Friday 30th September 2016
German government urges all banks in Germany to close.
For the last 2 years I and others have warned that October 2016 was a critical month. It could now be coming to pass.
{GC ed note: Simon may be too early — or perhaps a collapse was averted at the last minute. The banking day is over in Europe and there is no confirmation of this report. In addition, AFP and Zerohedge are reporting that Deutsche Bank is making a deal with the DOJ over its fines, so stocks are up for the day. Of course, this is a band-aid, but thats what they’ve been doing for a long time.
Everybody knows Deutsche Bank is insolvent, and the whole system is a wreck propped up by styrofoam, so we are keeping our eyes on this, and we are all waiting for the day the props come out and the system goes tumbling, but it seems Simon may be anticipating. Perhaps Monday? That will be a big day. We all await the first effects of the new SDR with its Chinese yuancomponent. We also wait to see if China will reveal its plans to back the yuan with its enormous (officially unreported) gold reserves.}