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Josh Sigurdson talks with author and economic analyst John Sneisen about the most recent crisis at Deutsche Bank.
The bank just had to lay off 10,000 employees. That’s 1 in 10 employees!
Under the current “restructuring plan” at Deutsche Bank, the S&P just downgraded the bank’s credit rating to BBB+ from A-.
The Federal Reserve put Deutsche Bank’s U.S. operations on the secret probation list.
Well now, Deutsche Bank’s share price has hit an all time low!
The bank fell 7.2%! This is just a week after we at WAM reported on the crashing share price of Deutsche Bank, it just won’t stop falling!
Interestingly, this also comes a few days after we reported that all major banks are in the red year to date after JP Morgan finally broke their artificial bull market.
All of the banks are insolvent. None of them recovered in 2008. The cash to deposit ratio illustrates that.
It’s up to individuals to understand money, understand that if your money’s in the bank, it’s not yours, it’s the bank’s. It’s up to individuals to prepare themselves and of course be self sustainable. Decentralizing and looking outside of the banking system and government will provide security and wealth without the servitude and debt.
We will continue to cover this incredibly important issue!
Stay tuned for more from WAM!
Video edited by Josh Sigurdson
Graphics by Bryan Foerster and Josh Sigurdson
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