Wolf Richter creator and owner of wolfstreet.com
Deutsche Bank Is Big Enough A Collapse Could Bring Down The Economy:Wolf Richter
6 years ago by x22report (75)
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Thanks for the report, Dave. Thanks for bringing on Wolf Richter to the X22Spotlight. Thanks for coming, Wolf Richter, and sharing insight and information.
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I think your guest was leaning towards the banksters . He was being very generous in his assessment of the looses to come . He doesn’t know whats he’s talking about . We’re in a RECESSION going into a DEPRESSION ❗️Thats closer to the truth . The banks exist on confidence , and once its gone they will collapse . And it won’t be pretty . Whole sale acquisitions won’t stop the bleeding . At best it will buy some time . But the bleeding will continue like an unattended gun shot wound it will bleed out until the patient dies . Nothing is going to save this current system , and death is the only way out . The petrodollar must simply die for a new system to be started and anyone saying different is just NUTS❗️
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Agreed. Although slight amendment, as I believe technically we're in a DEPRESSION going into a RECESSION. In the sense that a depression (or a slump) is an extended period of substandard economic growth. I would argue any growth figures are bullshit by and large anyway. Within this extended period there are periods of sharper recession.
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Dave I think you called this guy with one word - Derivatives. The crash of 08 was a fundamentally different crash to those before - it was our 1929. We are in a slump - again very different to a recession. As for no bankers falling next time - I think it will be more like musical chairs and there maybe be even more than one chair gone!
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