The gradual Global Reset continues with the official inclusion of the Chinese Yuan (RMB) as prime alternative to the US dollar as global currency of exchange which should provide a smooth transition away from all fiat currencies.
While this SDR inclusion was preannounced months ago, still the multiple investigations of fraudulent bank services, and the ongoing fall of the Big Banks suggest that the ongoing Global Reset will continue no matter the geopolitical noise, which are all part of the hybrid World War 3 being fought against the outgoing Nazionist Word Order.
When one considers the fact that the Chinese Yuan is backed with real, tangible hard assets, e.g. gold and industrial infrastructure, it would be very easy to say that the US dollar is doomed as it should be since its integrity and real value are nil at this point in time.
Yes, the Khazarian bankers can’t hide it anymore. They have a problem, a very big one, and they want to pass it on to the Western taxpayers, one more time.
LONDON — Germany’s largest bank appears in danger, sending stock markets worldwide on a wild ride. Yet the biggest source of worry is less about its finances than a vast tangle of unknowns — not least, whether Europe can muster the will to mount a rescue in the event of an emergency.
In short, fears that Europe lacks the cohesion to avoid a financial crisis may be enhancing the threat of one.
The immediate source of alarm is the health of Deutsche Bank, whose vast and sprawling operations, are entangled with the fates of investment houses from Tokyo to London to New York.
Deutsche is staring at a multibillion-dollar fine from the Justice Department for its enthusiastic participation in Wall Street’s festival of toxic mortgage products in the years leading up to financial crisis of 2008. Given Deutsche’s myriad other troubles — a role in the manipulation of a financial benchmark, claims of trades that violated Russian sanctions and a generalized sense of confusion about its mission — the American pursuit of a stiff penalty comes at an inopportune time.
It heightens the sense that Deutsche — whose shares have lost more than half their value this year — needs to secure additional investment, lest it leave itself vulnerable to some new crisis.
Who will provide the additional investment if not the German people who will be forced to swallow a slew of legislated austerity measures later on?
But the bigger problem for the Banking Canal is: Deutsche bank is just one domino in the entire fraudulent fractional banking system that is visibly in turmoil, and it is expected to bring down the entire fiat financial system with it.
Shares in Deutsche have lost more than half their value so far this year. The IMF hasn’t helped matters, saying in June that the bank is the greatest contributor to systemic risk in the world’s biggest lenders.
Q How is Deutsche Bank reacting?
A John Cryan, the Briton who became chief executive last summer, has set out a five-year restructuring plan that will cut about 15,000 of Deutsche’s 101,000-strong workforce. Its dividend has been suspended for two years, and Cryan expects to close dozens of overseas sites. It sold Abbey Life, its old portfolio of British life insurance products, for euros 1billion on Wednesday.
Q What else can the bank do?
A Rumours surfaced over the summer of a possible merger between Deutsche and Commerzbank, its biggest competitor, and more recently the idea of another multi-billion-euro rights issue has been floated. Again, these reports have been played down by the bank.
Deutsche also has the option to “switch off” regular coupon payments on its coco bonds, providing a small amount of breathing space. Analysts at Autonomous have also suggested that the bank could save euros 2.8billion by not paying staff bonuses.
However, the possible merger between Deutsche Bank and Commerzbank can only go as far as the next collapse…
Is another German bank in trouble? Commerzbank to cut 9,600 jobs and suspend dividend
(Telegraph) – Commerzbank, the second-biggest bank in Germany, has suspended its dividend and revealed more than 9,000 job losses as it tries to shore up its business in the face of ultra-low interest rates and sagging client activity.
The bank said its decision to cut almost one in five of its employees worldwide and merge two of its largest businesses will result in a €700m write-off and a loss for this quarter.
The bank’s Mittelstand division, seen as the engine room of Germany’s mid-sized corporate economy, will be combined with its corporate branch, while investment activity will be scaled back.
Commerzbank also warned that “ongoing weakness in the shipping markets” would push up its loan loss provisions in the coming months. The bank decided four years ago to exit the ship financing business but still has about €8bn on its books.
“We simply don’t earn enough money to lead the bank sustainably and successfully into the future. And this situation will get worse if we don’t do something about it,” chief executive Martin Zielke said in a draft note to employees, according to Reuters.
The bank will cease dividend payments “for the time being”, prompting analysts at RBC Capital Markets to scrap their forecasts for payments until at least 2018.
ING Plans Thousands of Job Cuts
(Bloomberg) – ING Groep NV, the largest Netherlands lender, will announce thousands of job cuts at its investor day on Monday, Dutch newspaper Het Financieele Dagblad reported Friday, citing unidentified people with knowledge of the matter.
The reorganization will result in more central management and may generate billions of euros in savings, the paper said. Raymond Vermeulen, a spokesman for the Amsterdam-based bank, declined to comment on the report. The bank employs about 52,000 people, according to its website.
Stanford endowment joins long list of college funds doing poorly
(Boston Globe) – The Stanford University endowment posted a 0.4 percent loss on its investments for fiscal 2016, underperforming some large rivals but doing better than Harvard University’s 2.0 percent loss. The median return for foundations and endowments tracked by the Wilshire Trust Universe Comparison Service was negative 0.3 percent.
Harvard is the largest university endowment, with $35.7 billion in assets. Harvard president Drew Faust said the “disappointing” investment return would “constrain our budgets,’’ according to the Harvard Crimson. Harvard Management Co. is seeking a new chief executive after the departure this summer of Stephen Blyth after a short, year-and-a-half stint. The endowment manager is under pressure to boost performance; Blyth had said it needed to produce at least a 5 percent return annually to meet its obligations to Harvard’s annual operating budget.
Reckoning Comes for U.S. Pension Funds as Investment Returns Lag
(Bloomberg) – The $1.9 trillion shortfall in U.S. state and local pension funds is poised to grow as near record-low bond yields and global stock-market turmoil reduce investment gains, increasing pressure on governments to put more money into the retirement systems.
With the Federal Reserve deciding to hold interest rates steady at its meeting Wednesday, the funds will continue to be squeezed by rock-bottom payouts on fixed-income securities just as stocks fall overseas and post only modest U.S. gains. As a result, pensions in Illinois, Missouri and Hawaii this year have moved to roll back the assumed rate of return on their investments, joining the dozens that have taken that step over the past two years.
“There’s little light at the end of the tunnel as far as pension funding is concerned,” said Vikram Rai, head of municipal-bond strategy at Citigroup Inc. in New York. “I expect funded ratios will drop further. It’ll require increased pension contributions on the part of the states and local government, but most state and local governments don’t have the ability to do so.”
This expanding financial time bomb is being exposed one more time with the US senate investigations on Wells Fargo’s highly deceptive sales strategies victimizing even its long-time customers.
Wells Fargo problems far from over as investigations and lawsuits expand
Alex Polonsky was watching Senator Elizabeth Warren of Massachusetts lay into Wells Fargo’s chief executive, John Stumpf, on 20 September when he finally had enough. He picked up the phone and called Jonathan Delshad, who would soon become his lawyer. Polonsky used to work for Wells Fargo, but according to his lawsuit, he was demoted and later terminated for not meeting his sales quotas.
The bank has recently come under scrutiny for such quotas after it was revealed that for years, thousands of its employees had been opening unauthorized accounts in order to meet them. More than 2m such accounts were opened without customers’ permission and more than 5,300 Wells Fargo employees have been fired – with about 1,000 being dismissed each year over the past five years. At the same time, employees like Polonsky were fired for not meeting their quotas.
Surely, the complete Western financial collapse will just be a matter of time, and contrary to some assertions, it’s not something that the Khazarian bankers are fretting much about. They have already invested their loot in China, India and even in Russia. They have profited from every systemic shift which have happened before.
But unlike before, they will now have a two-pronged approach which assures their continued occupation of the Halls of Power in the West. Aside from the simple transfer of financial assets to the “winning side” which they don’t have full control of anymore, they will also be using the event to install in the West what they have been eagerly egging on, and that is the full digitization of fiat currencies, and the full integration of European human resources into their quantum supercomputer AI-based economic system.
In order to effect this gigantic automated NWO plan, the United States has recently transferred its authority over the ICANN, “a nonprofit organization that is responsible for coordinating the maintenance and procedures of several databases related to the namespaces of the Internet – thereby ensuring the network’s stable and secure operation,” to the United Nations, in addition to all measures already in the pipeline, e.g. drone squadron, surveillance mechanisms, armed police, etc.
This march towards Technocratic Dictatorship will continue unless the people in the US and Europe will take a decisive action against the PuppetMasters right in their own countries.
To make these regressive changes happen, the United Nations is already conditioning the minds of its subjects about “the 3rd leg of the global financial crisis – with prospect of epic debt defaults.”
UN fears third leg of the global financial crisis – with prospect of epic debt defaults
The third leg of the world’s intractable depression is yet to come. If trade economists at the United Nations are right, the next traumatic episode may entail the greatest debt jubilee in history.
It may also prove to be the definitive crisis of globalized capitalism, the demise of the liberal free-market orthodoxies promoted for almost forty years by the Bretton Woods institutions, the OECD, and the Davos fraternity.
“Alarm bells have been ringing over the explosion of corporate debt levels in emerging economies, which now exceed $25 trillion. Damaging deflationary spirals cannot be ruled out,” said the annual report of the UN Conference on Trade and Development (UNCTAD).
We know already that the poisonous side-effect of zero rates and quantitative easing in the US, Europe, and Japan was to flood developing nations with cheap credit, upsetting their internal chemistry and drawing them into a snare. What is less understood is just how destructive this has been.
Much of the money was wasted, skewed towards “highly cyclical and rent-based sectors of limited strategic importance for catching up,” it said.
Worse yet, these countries have imported the deformities of western finance before they are ready to cope with the consequences. This has undermined what UNCTAD calls the “profit-investment nexus” that ultimately drives growth and prosperity.
The extraordinary result is that some countries are slipping backwards, victims of “premature deindustrialisation”. Many of them have fallen further behind the rich world than they were in 1980 despite opening up their economies and following the global policy script diligently.
The middle income trap closed in on Latin America and the non-oil states of the Middle East a long time ago, but now it is beginning to close in such countries as Malaysia and Thailand, and in some respects China. “The benefits of a rushed integration into international financial markets post-2008 are fast evaporating,” it said.
If policymakers fail to mitigate the negative impacts of unchecked global market forces, then a turn to protectionism could trigger a vicious downward spiral for everyone.
… What is clear is that world will soon need a massive and coordinated spending push by governments to create demand and bring the broken global system back into equilibrium. UNCTAD is entirely right about that.
If this does not happen, it is sauve qui peut.
The key phrase of that article is “the next traumatic episode may entail the greatest debt jubilee in history” which may sound good until we realize that they are just resetting the same old fiat debt-based slavery system because the derivative bubble numbers are getting so large, it complicates the manipulations even more, much like they reset the calendar from BCE to CE, or AD, to hide those countless genocides that their bloodlines have committed thousands of years ago.
At the same time, and in addition to simplifying the whole corrosive system, what these economic gurus are trying to project is that economics and finance are so complicated, but the solution still lies within that same grossly defective monetary system of controlling resources. There can never be anything better than this debt slavery quicksand in spite of the existence of exotic technologies that would render the whole economic system obsolete.
It must be known to all, that the progressive BRICS are not suppressing these same exotic technologies but are gradually raising global awareness to the fact, as some Russian scientists have already announced the discovery of an industrial method to produce any element, known and unknown, which runs counter to the economics of scarcity, at the press of a button.
China, for its part, is already manufacturing and selling HHO kits to increase the fuel efficiency of existing internal combustion engines, or eliminate the use of fossil fuels altogether.
The dense fog of highly distractive lies and deceptions is covering both sides of the Atlantic. But here in Asia, the options are pretty clear, i.e. continued participation of the Globalist Empire, or the total separation through a parallel system of the BRICS Alliance’s New Silk Roads, CIPS bank transfer system, and a separate internet backbone.
But just like the Syrian crisis, the ultimate solution to the Western financial crisis is the total defeat of the Khazarian Criminal Syndicate which has full control of the Western governments, before the march towards global prosperity can commence in earnest.
You can actually participate in crippling the Deep State organized criminal cabal, while enjoying healthcare freedom at the same time, by boycotting Big Pharma for good.