Search Results for: Deutsche Bank

German bank hits savers with ‘negative interest rates’

Mario Draghi ECB

Deutsche Skatbank, a division of VR-Bank Altenburger Land, which was founded in 1859, is not the biggest bank in Germany, but it’s the first bank to confirm what German savers have been dreading for a while: the wrath of Draghi. Retail and business customers with over €500,000 on deposit as …

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The Gold War

Gold

The global financial crisis is better described as a global monetary war to defend the toxic US Dollar, whose sunset can be seen.In the last 12 to 18 months, the monetary war has again morphed, this time into a far more serious and financially violent global Gold War. Nations are …

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Bank of England claims: no more taxpayer bailouts

BOE Mark Carney

New rules are being proposed that will force creditors, not taxpayers, to carry the losses of banks deemed “too big to fail.” The plans come after Western taxpayers were asked to pay trillions of dollars to bail out banks in the 2008 financial crisis. The new global rules will force …

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BRICS establish $100bn bank and currency reserves

BRICS nations

The group of emerging economies signed the long-anticipated document to create the $100 bn BRICS Development Bank and a reserve currency pool worth over another $100 bn. Both will counter the influence of Western-based lending institutions and the dollar. The new bank will provide money for infrastructure and development projects …

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NatWest bank may start charging customers to hold cash

NatWest bank charge customers hold cash

NatWest has said it may start charging customers to hold cash if the economy takes a tumble. The bank warned more than one million of its customers it could introduce negative interest rates if that were to happen. This would mean customers are effectively paying the bank to hold their …

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Australia’s biggest bank facing trillion dollar fines for money laundering

Commonwealth Bank CBA Ian Narev money laundering fines

Even the Commonwealth Bank’s staunchest critics wouldn’t have predicted this one. This is the bank potentially blowing itself up. CBA is facing fines of about a trillion dollars for nearly 54,000 breaches of Australia’s money-laundering laws dating back to 2012. A trillion dollars, which is a thousand billion. About seven times Commonwealth …

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Central banks selling off US debt at record pace

Central Banks selling US debt

In March, central banks from around the world dumped $17 billion in American Treasuries. Since the beginning of the year the sell-off has reached $123 billion, which is the quickest pace since 1978. China sold $7.7 billion in US debt in March, lowering its holding by $26.4 billion since last June. Russia …

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Bank runs in Greece, bank holidays coming next

Greece bank run ATM queue

The writing has been on the wall for quite sometime. Deposit flight from Greece‘s ailing banking sector has been running north of €500 million per day this week as the threat of capital controls casts a pall over the Greek government’s efforts to reassure the public and head off a …

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China, 20 others launch World Bank rival in Asia

China AIIB World Bank rival Asia

China has launched the $100 billion Asia Infrastructure Investment Bank (AIIB). Australia, Indonesia and South Korea were absent following hidden pressure from Washington concerned about the new challenge to the World Bank and Asian Development Bank. The memorandum of understanding was signed on Friday in Beijing. The development bank was …

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Australia has no gold

Reserve Bank of Australia

After a campaign throughout 2012 to seek clarity in regards to the location of Australia’s Gold Reserves the Reserve Bank of Australia (RBA) has confirmed today in an email to me that 99.9% of their Gold Reserves are held in the gold vault of the Bank of England. Please read …

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Saxo Bank: 60% chance of global recession within 18 months

Saxo Bank global recession

While markets are forecasting only a 10 percent chance of a global recession, Danish investment firm Saxo Bank puts the odds at over 60 percent. “Our main global macro outlook still maintains that recession is more likely than not in the near future (12 to 18 months) based on the …

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Central banks now asking governments for help

People’s Bank of China Gov Zhou Xiaochuan ECB President Mario Draghi Fed Chairwoman Janet Yellen Bank of Japan Haruhiko Kuroda

Central bankers in charge of the vast bulk of the world’s economy delved deep into the weeds of money markets and interest rates over a three-day conference here, and emerged with a common plea to their colleagues in the rest of government: please help. Mired in a world of low …

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Australian government set to tax bank deposits

Australia Tony Abbott

The Australian Federal Government looks set to introduce a tax on bank deposits in the May budget. The idea of a bank deposit tax was raised by Labor in 2013 and was criticised by Tony Abbott at the time. Assistant Treasurer Josh Frydenberg has indicated an announcement on the new tax …

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IRS stealing money from perfectly legal bank accounts

IRS money grab

The Internal Revenue Service has been seizing bank accounts belonging to small businesses and individuals who regularly made deposits of less than $10,000, but broke no laws. And the government is refusing to return all the money taken. The practice ‒ called civil asset forfeiture ‒ allows IRS agents to …

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They’re coming for your money

Pockets empty

Nearly all of us grew up thinking that we registered ourselves to prove that we were safe and responsible. We advertised our services as “registered” or “licensed,” and we never thought about it beyond that point. After all, that was the way things were done, and we knew that it …

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Ecuador to replace the US dollar with its own digital currency

Ecuador Central Bank

Ecuador is planning to create the world’s first digital currency issued by the country’s central bank, in what is seen by many as a step to abandon the US dollar, the currency now used by the Central American country. The currency is expected to start circulating in December, according to …

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Spain to tax bank deposits

Bank robbing depositors

Spain on Friday said it would introduce a blanket taxation rate of 0.03 percent on all bank account deposits, in a move aimed at harmonising regional tax regimes and generating revenues for the country’s cash-strapped autonomous communities. The regulation, which could bring around 400 million euros ($546 million) to the …

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