⭐ Merited by vapourminer (1)
2) There are growing rumors of a major European bank going banrupt. Two are the main candidates:
'Trading Like a Lehman Moment’ — Credit Suisse, Deutsche Bank Suffer From Distressed Valuations as the Banks’ Credit Default Insurance Nears 2008 Levels
'Trading Like a Lehman Moment’ — Credit Suisse, Deutsche Bank Suffer From Distressed Valuations as the Banks’ Credit Default Insurance Nears 2008 Levels
It reminds me of the zero hedge titles through the years:
Quote
The Elephant In The Room: Deutsche Bank's $75 Trillion In Derivatives Is 20 Times Greater Than German GDP
NY Fed Slams Deutsche Bank (And Its €55 Trillion In Derivatives): Accuses It Of "Significant Operational Risk"
Investigating Deutsche Bank’s €21 Trillion Derivative Casino In Wake Of Admission It Rigged Gold And Silver
NY Fed Slams Deutsche Bank (And Its €55 Trillion In Derivatives): Accuses It Of "Significant Operational Risk"
Investigating Deutsche Bank’s €21 Trillion Derivative Casino In Wake Of Admission It Rigged Gold And Silver
Ten years later, DB is still there but it's going to die again, cause..
things 3) China strikes back against the dollar:
Exclusive: China's state banks told to stock up for yuan intervention
Exclusive: China's state banks told to stock up for yuan intervention
That's not a strike, it's calling mommy for help, the Yuan has fallen to the levels of 2008 against the dollar and they can't stop it from going even down despite telling everyone not to panic, don't buy $, don't try to get your wealth out the country!
So they are going to dump their reserve $ in order to keep the yuan afloat, because, yeah, it has worked wonders in the past, from the Bank of England to Venezuela to Zimbabwe!