Search Results for: Deutsche Bank

Do western central banks have any gold left?

Bank of England gold vault

Somewhere deep in the bowels of the world’s Western central banks lie vaults holding gargantuan piles of physical gold bars… or at least that’s what they all claim. The gold bars are part of their respective foreign currency reserves, which include all the usual fiat currencies like the dollar, the …

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Six banks fined $5.8 billion for market rigging

Citi JPMorgan Barclays RBS UBS

Editor’s note: these banks made billions more from their crimes, let alone received billions of $ in bailouts which the tax payers funded. So will we receive this money? Will any of these bankers ever go to jail for their crimes? If you or I committed the crimes that these bankers are guilty of we would …

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Russia and China planning joint gold trading platform

Russia China gold trading

The Bank of Russia and the People’s Bank of China want to create a joint platform that would unite gold trading by the world’s two biggest gold buying countries. “BRICS countries are large economies with large reserves of gold and an impressive volume of production and consumption of this precious …

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Australia’s sub-prime scandal finally breaks wide open

Loan approved

A WA mortgage broker who got rich by “fudging figures” has blown the whistle on the banks that conspired in Australia’s own sub-prime mortgage scandal. In 2007 Kate Thompson was WA mortgage broker of the year. Now she is facing fraud charges. It is alleged Mortgage Miracles, in Canning Vale …

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Russia returns to precious metals market, buys tons of gold

Russia precious metals market buys tons of gold

In January, Russia continued to increase its gold reserves with a large purchase of more than one million troy ounces, Vesti.ru reports. In January, Russia increased its gold reserves by 37 metric tons, equivalent to more than a million troy ounces, Vesti.ru reported on Tuesday. As a whole, Russia’s foreign reserves grew by four percent …

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This time had better be different: Australian Housing Prices and the Banks

In last week’s post I showed that there is a debt-financed, government-sponsored bubble in Australian house prices (click here and here for earlier installments on the same topic). This week I’ll consider what the bursting of this bubble could mean for the banks that have financed it. Figure 1 Betting the House For two decades after …

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Australia facing debt crisis

Australia day Sydney

Australia’s upper house rejected a proposal to raise the debt ceiling to AU$500 billion ($465 billion), which if not resolved by December 12, could send the country into a US shutdown scenario. Australian Prime Minister Tony Abbott has promised he will lift the debt ceiling of the world’s 12th-largest economy …

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Banks plan escape to London if Scots choose independence

Royal Bank of Scotland

Partly-nationalized British banks Lloyds and Royal Bank of Scotland (RBS) both say they would relocate their headquarters to London if Scots vote for independence on September 18. Recent polls indicating pro-union and independence camps are neck and neck have rocked British financial markets and pushed the pound to its lowest …

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China launches yuan-based international payment system

Chinese yuan CIPS

China launched the first phase of its China International Payment System (CIPS) in Shanghai on Thursday, allowing cross-border transactions in the Chinese national currency, the yuan. CIPS’ first phase provides clearing and settlement services, according to the People’s Bank of China announcement. Its launch is said to remove hurdles to the yuan’s internationalization by reducing transaction costs and processing …

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Russia buys 900,000 ounces of gold worth $1.17 billion in April

Swiss gold

The Russian central bank has again increased its gold reserves by another 900,000 ounces worth $1.17 billion in April. Russia’s gold reserves rose to 34.4 million troy ounces in April, from 33.5 million troy ounces in March, the Russian central bank announced on its website yesterday. The value of its …

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How Greece was robbed by the bankers

Greece flag thinking Aristotle

Every single mainstream media has the following narrative for the economic crisis in Greece: the government spent too much money and went broke; the generous banks gave them money, but Greece still can’t pay the bills because it mismanaged the money that was given. It sounds quite reasonable, right? Except …

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Forex scandal: criminal bankers must be jailed, not fined

Six banks forex rigging scandal

Financial penalties expected to hit British banks for Forex rigging will do little to tackle financial crime in the City of London as regulators continue to prioritize high finance over ordinary citizens, experts warn. British banks could be fined billions in coming months as investors pursue them for rigging foreign …

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Are global market trends pointing to a recession?

Stock market gold

2016 has been one year that has seen a mixed reaction in both the commodities and the stocks market since the beginning in January. Stock prices have been fluctuating due to the uncertainty in the market as to the effect of the slowing growth in the Chinese economy. Moreover, the …

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Greek government surrenders to the bankers

Greece Tsipras EU euro

Yes, Greek banks may have been insolvent – something that was clear since the first bailout of 2010 – but at least the Greek state had control over them: as such it could have mandated mergers, recapitalizations, liquidity injections, even depositor bail-ins (perhaps the harshest lesson for the ordinary Greek population as …

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US government faces $127 trillion in unfunded liabilities

Economic turmoil US dollar

For a casual observer of the US economy (most “experts”), you could say that things look pretty good. Unemployment is at its lowest rate in six years. Earnings of S&P 500 companies are higher than ever, while their debt is lower than it’s been in the last 24 years. Nonetheless, …

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