RE: Deutsche Bank fails US Stress test - Can we see a 2008 crisis again?
Remember mortgage backed security derivatives, and highly questionable CDS trading of Goldman Sachs, that nearly crashed the financial system in 2008? Well what makes anyone think D'B's $64 trillion exposure to the derivatives market is any more secure today? Obviously not the ECB.
The point is, nothing happened after the 2008 regulatory debacle. In fact, with the Basel accords, the B.I.S actually reduced liquidity requirements to practically nothing.
Why? Because Fiat currency (without which their couldn't possibly be a $550 Trillion - £1.2 Quadrillion derivatives market) is a total farce. Of course there will be a massive global financial collapse. It's all part of the predetermined and absolutely essential boom bust cycle that enables global corporations' to operate their huge scale asset grabs, buying stocks for pennies on the dollar, whenever they decide to trigger one. Deutsche Bank's obvious insolvency is just the means to an end.
As for Bitcoin I really hope the principle of the decentralised blockchain will be protected but may I make a tentative prediction?
There will soon be a FedCoin or similar global 'central bank backed' cryptocurrency. China have already started preparing theirs and central bank states will all soon follow suit. These will not be blockchain based (though they will claim that they are,) will be centrally controlled, will have market exchanges and will not have restricted 'anti inflationary' issue limits. When the BIS controlled global banking cabal rolls out its FedCoin/CryptoYuan all other crypto currencies will be declared illegal. The only difference will be the end of voluntary exchange and the cabals total control of everything every human being on earth is able to buy.
@oyddodat : Yes! Absolutely, I agree with your prediction there. Things like FedCoin could be released soon.. When something like bailout would be a possibility, the account where we hold the so called FED backed Crypto would be freezed as they would be mining it centrally.
And, yeah.. look at the manipulation now, JP Morgan CEO says Bitcoin is a ponzi scheme & next day JPM buys Bitcoin. Are you serious? Why do they even think capitalism is good? It's all a game. Financial Industry is corrupt by these Whales!
Transparent if you can see it. I would be interested to know what pressure they think they can put on the blockchain itself, as a an entirely separate issue to Bitcoin. Seems to me the cat is out of the bag on that one. 'Faith backed currency' is their problem. It's inherent to their system so what's to stop you and I saying we don't have any faith in your crypto and we have decided to use a blockchain backed alternative instead. Legislation and heavy handed enforcement is their only recourse I suspect.
@oyddodat : Well, Retail investors don't know what they actually want. So even if you & I agree to consider Bitcoin as our currency, the media & marketing team of the government (like Cambridge Analytica) will pull other confused retail investors to their side :-/