Deutsche Bank approaching the zero line with cometary speed, down today 6%, still slightly in the double digits (give’em a day).
They’re now at their 1992 price – without inflation. Remember this is the bank that was given BankersTrust in 1999 because the Fed needed to offshore their derivative trading house to hide their dealings from the SEC. That’s why Deutsche has 70 trillion in derivatives – it’s a kind of Annihilatrix of a bank.
Fun fact: in 1999 or 2000 they became very arrogant towards small fries like me and I moved my stock depot to a different bank. At the time I didn’t know they were made to swallow a huge box of poison pils in the form of BankersTrust – in retrospect, chasing me and other small time investors away was their form of saving me!
UK (that means London) property values collapsing, by now 7 REIT’s have closed , locking in investor capital (they do this before throwing the whole money on a big pile, light up a bonfire and dance around it) – one of them has slashed fund price by 17% – destroying all profits the fund made over its lifetime.
I’m watching my Gold ETF rise like a balloon. Hope that company survives the asteroid impact called Deutsche Bank that is about to befall the EU in a few days. We’ll see a Tsunami of Euros flood the continent in a short while.