In this video, I talk with author and economic analyst John Sneisen @TheEconomicTruth about the most recent example of the completely devastated banking system.
As we recently reported on, all major banks' share values are currently in the red year to date following JP Morgan's drop.
All banks are insolvent. None have recovered since 2008. The cash to deposit ratios at the big banks is shocking to say the least. Many of them can't cover 10% of deposits with cash not to mention many can't cover 0.15% of deposits with cash. Talk about dire!
All the while, Deutsche Bank's shares have been steadily falling for 10 years and they recently announced they will be laying off 10,000 employees, approximately 1 in 10 employees. The bank was also downgraded by the S&P from A- credit score to BBB+.
Well now, Deutsche Bank is hoping to merge with Commerzbank AG. Chairman Paul Achleitner has announced the talks are in progress, though no decisions have been made.
At the same time as this potential merger, we are seeing countless problems arise out of Italy with banks such as Monte Dei Paschi and Unicredit. Well, Unicredit is now pushing for a merger with Societe Generale SA, a French bank with many of its own problems.
We saw mergers of many retail giants in the past few years as they prepared to go under. Well, we are seeing something eerily similar with the big banks.
John breaks down how central banks are causing these problems, what caused the Lehman Brothers collapse and how what we're seeing now is far more destructive and problematic.
The fundamentals are off the table due to the level of manipulation in the markets as well as the monetary system, so we cannot put a date on the crash, but we know it has to inevitably happen, so for that reason we must be aware of the many problems and understand money for the sake of being ahead of the game and being able to protect ourselves.
Self sustainability is crucial.
See the FULL video report here:
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Well this explains the extreme pressure to keep cryptocurrency cheap. They are pushing it down till right when they collapse as if they like being a part of the problem. 2008 saw the devestation a corrupt banking system can lead us too. We need physical decentralized bank locations. We need fair and uncorrupted outlets for information in regards to this, I appreciate you having done the research and letting us know about these changes, but is there more to this story that we havent heard, how so we get this to the appropriate authorities because i believe the insolvency they claim to exist was created on purpose and therefor the central banks are committing fraud and on a global scale. Bankers, politicials and reporters and anyone else involved should be in prison not buying up cheap crypto in preparation.
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I would say there are no "authorities" to tell, but simply individuals must prepare and educate themselves. If more people knew, the banking system wouldn't stand a chance against the vast populace.
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I know as someone with a pretty small group of people like myself the education of friends and family even to just hodl a few different coins hasnt been an easy thing to do, it wasnt until last week that my father (after hearing his bmo account may be at risk after that hack) liatened to me about why alphanumeric encryption and personal wallets are truly more secure. Explaining the depth of it to people who understand little of math shows its not going to be an easy transition even for intelligent people. I just hope my own decisions now are enough that i can help the people i care about when the next depression hits. Thanks for the knowledge @joshsigurdson
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@dizzyjay
I follow a rogue scientist that also post on here (@jetblake) who claims that these bastards are doing everything possible the make crypto seem as an unsafe option for the purpose of having everyone in the grip of poverty during this next collapse.
It is clear they are behind it. There is no other explanation. Does the world have less resources then a few years ago or couple of hundreds of years ago? No, there are in fact better technology and therefore we should be way better off. The end game cannot be more clear.
The best place to save your crypto, according to him, is a hard wallet. See his post on the topic here
Also see the comment by @dawidloots below the post on which one is the best.
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Annnndddd that’s why I own crypto, precious metals, and always have cash on hand!!!
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Unfortunately, because of the massive debts, corporate and governmental corruption, a heavy lean towards speculative investments, and a litany of other factors have put the western world in a situation where some form of reboot seems like it will be necessary so that a more equitable economy can come out of it.
That said, can't just expect that to be the default, the default is usually more oppression... it's important that people stay vigilant and do your best to be prepared for emergencies to the best you can.
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Education is key. The reboot should be competing currencies, completely decentralized. That's why the current crypto market is a great start and will really kick into action in the next crash. Not to mention diversification with gold and silver.
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Time to buy some more gold and silver!!
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DB shares sure are repeating the past. The elites can't let it fail though... So many derivatives every other bank would be exposed as well.
This moral hazard is insane.
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Spot on great article! I have been following them closely and they should of crashed last year, but a massive amount of money needed to come out of somewhere to prop up the banking system. Then bitcoin comes around and starts making huge gains. bring more money in to the game, they are bouncing the crypto market the same way the bully takes your money on the simpsons.
Every time they FUD the market long term holder get scared and sell. then the btc is bought up by the cartels in anonymous accounts and held. it rises then bank more FUD more sell offs. The reality is the banks have created bitcoin and sent it out years ago knowing it will appear to have come from the people and it will be accepts its the age old classic create a problem, get a reaction, propose a solution. all the top 1% assets and property enshrined on to the block chain never to be lost is any gov topples. all there wealth and land with refutable proof of ownership. This was our island you stole in the 1800s, in 100 years it will be no it's not on the block chain they own it. and if the bank did make it and had 20% of all bitcoin locked away safe for after the big change is complete. The funny thing is we will think it is freedom from the banks and gov. But it's the total opposite! God help us, I'm all in crypto but my gains may make me feel rich. but the new level of wealth for the top %s will be sill money!
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"Imminent" again? Obviously you don't know what is the meaning of this word. Please look up definition in dictionary so you don't overuse it so foolishly. I thank you.
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Crashes always happen when nobody is expecting them. We have not even seen a euphoric phase in the stock market. A stock market crash is imminent but it will take a few more years to develop. You can be bullish in the mean time then buy put options when the time is right.
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At some point the volcano wins 🌋
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They can try to delay it as much as poddible but the next crash will bring forth a crypto revolution.
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Very Good !
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Interesting topic, remember that the main enemy of the virtual currency is precisely banks, because if the cryptocurrency is imposed banks will not need, there is always a resistance to change, and with virtual currencies does not require banking activity, as simple as here derive the techniques to try to corrupt bankers, politicians, reporters and any other person involved try to continue doing these illegal activities, THANKS for sharing!
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Thank you for such enlightenment.
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Will banks crash as much as bitcoin did in February? lol
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Saya ingin seperti anda tuan
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Watch the dominoes topple. Crypto will be an amazing hedge against the market crashing. Bull run coming!!!
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thanks for the information. hopefully rise again and victorious.
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Mind sharing where you are getting this information? I dislike Big Banks just as much as the next Crypto fanatic, but you are making some pretty strong claims to not back up with any sources.
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