Deutsche Bank criminal probe

[ThePythonicCow]

In related news, some other banks are also facing likely civil charges for Libor rate manipulation.

Libor is the London Interbank Offered Rate, a report of the rate that banks charge each for short term inter-bank loans. Hundreds of trillions of dollars in short-term interest rates, swaps and other financial products are pegged to Libor.

Source: https://youtube.com/watch?v=5XdEvglOQ54

Citibank And HSBC Among Banks To Be Charged By US And UK

===

Or the same from the Wall Street Journal, via Reuter's, U.S., UK likely to charge multiple banks in Libor rigging:

American and British regulators are likely to charge several banks with rigging interest rates, including Citigroup, the third-largest U.S. bank, and London-based HSBC Holdings, the Wall Street Journal reported on Friday.

The U.S. Commodity Futures Trading Commission and the U.K. Financial Conduct Authority were preparing a final round of civil charges against the banks for rate manipulation in the Libor scandal, the newspaper reported, citing people close to the investigation.

The Journal said the CFTC was still investigating J.P. Morgan Chase, the largest American bank by assets, but that may not lead to charges. U.K. regulators said last year they dropped their probe of J.P. Morgan.

U.S. and British regulators are leading a seven-year investigation into the manipulation of Libor, or the London interbank offered rate.

[lucidity]

This is actually, the _really_ big news.

The financial collapse of China ? Bullsh!t.

The financial collapse of America ? It will happen in Europe first.
And it will happen in Europe this year.
It will break up the European union and it could break up NATO.

The current Bitcoin price is $403 (from btc-e.com)
Anyone want to bet me that bitcoin hits $500 before the end of Feb ?

Notice that the bitcoin:litecoin price is currently 0.00781 (from btc-e.com)
In other words 1 litecoin is worth 0.781 percent of 1 bitcoin
Whenever, in the past, there's been a bitcoin rally, the value of litecoin has
risen in multiples of value relative to bitcoin. So it might go to 0.015
or 0.022 (say) ... but understand that's relative to bitcoin's (rising) value.
So if you put $100 dollars on bitcoin. And bitcoin doubles, you get $200.
If you put $100 dollars on litecoin and bitcoin doubles, you get $400 or $600.
Go check the historic bitcoin/litecoin charts to check what i'm telling you
is true. See here: http://coinmarketcap.com/currencies/litecoin/

be happy

lucidity

[mgray]

lucidity, do you really want to "bet" on the third or fourth derivative off of currencies?

I can see and do have gold and silver as a hedge against a cratering dollar. I have a small investment position in bitcoin and can almost see BTC as an alt-currency as it becomes more widely known. But when you get to newer crypto currencies I think the risk ramps up tremendously.

Just a thought. Good luck.

[lucidity]

Posted by mgray (here)
lucidity, do you really want to "bet" on the third or fourth derivative off of currencies?

I can see and do have gold and silver as a hedge against a cratering dollar. I have a small investment position in bitcoin and can almost see BTC as an alt-currency as it becomes more widely known. But when you get to newer crypto currencies I think the risk ramps up tremendously.

Just a thought. Good luck.

When did you buy into gold ?
And how do you think that investment is doing ?

You should have taken a look at the LTC:BTC chart.
I provided a link.

be happy

lucidity

[ThePythonicCow]

.
Here's more evidence that it's not primarily the secret criminal probes of Deutsche Bank that's putting it in trouble. Some other European banks are in trouble too.

From EU on brink of 'terrifying crisis' Five of Europe's big banks are in danger, warns expert (Express.co.uk; Raoul Pal):

=========

SOME of Europe's biggest banks are on the brink for a crisis that echoes the 2008 meltdown, a finance expert warned, as fears over the global economy escalate.

Deutsche Bank, Credit Suisse, Santander, Barclays and RBS are among the stocks that are falling sharply sending shockwaves through the financial world, according to former hedge fund manager and ex Goldman Sachs employee Raoul Pal.

At the height of the financial disaster in 2008, the Government was forced to step in and rescue Lloyds Banks and RBS from liquidation, while the European Central Bank gave huge bailouts to Spain, Greece, Portugal and Italy.

Last month, the head of the European Central Bank Mario Draghi raised expectations that it could undergo yet more Quantitative Easing in March - in effect printing billions of pounds worth of money - in the face of ongoing economic fears.

France last month declared a state of economic crisis adding to worries about the stability of the eurozone.

Regulations now require banks in Europe to hold more cash as a buffer against market shocks, but Mr Pal said balance sheets haven't been cleaned up and warned negative interest rates are hitting the firms hard.

=========

[mgray]

Posted by lucidity (here)

Posted by mgray (here)
lucidity, do you really want to "bet" on the third or fourth derivative off of currencies?

I can see and do have gold and silver as a hedge against a cratering dollar. I have a small investment position in bitcoin and can almost see BTC as an alt-currency as it becomes more widely known. But when you get to newer crypto currencies I think the risk ramps up tremendously.

Just a thought. Good luck.

When did you buy into gold ?
And how do you think that investment is doing ?

You should have taken a look at the LTC:BTC chart.
I provided a link.

be happy

lucidity

I'm in at an average price of $320 an ounce so no worries here.

Wish you all the luck in the world. I'm just playing devil's advocate for some not well-versed in crypto currencies.

¤=[Post Update]=¤

Posted by Paul (here)
.
Here's more evidence that it's not primarily the secret criminal probes of Deutsche Bank that's putting it in trouble. Some other European banks are in trouble too.

From EU on brink of 'terrifying crisis' Five of Europe's big banks are in danger, warns expert (Express.co.uk; Raoul Pal):

=========

SOME of Europe's biggest banks are on the brink for a crisis that echoes the 2008 meltdown, a finance expert warned, as fears over the global economy escalate.

Deutsche Bank, Credit Suisse, Santander, Barclays and RBS are among the stocks that are falling sharply sending shockwaves through the financial world, according to former hedge fund manager and ex Goldman Sachs employee Raoul Pal.

At the height of the financial disaster in 2008, the Government was forced to step in and rescue Lloyds Banks and RBS from liquidation, while the European Central Bank gave huge bailouts to Spain, Greece, Portugal and Italy.

Last month, the head of the European Central Bank Mario Draghi raised expectations that it could undergo yet more Quantitative Easing in March - in effect printing billions of pounds worth of money - in the face of ongoing economic fears.

France last month declared a state of economic crisis adding to worries about the stability of the eurozone.

Regulations now require banks in Europe to hold more cash as a buffer against market shocks, but Mr Pal said balance sheets haven't been cleaned up and warned negative interest rates are hitting the firms hard.

=========

Would these banks not be the primary counter-parties to DB on European debt? And could this be the first wave of contagion? Just sayin'.

[ThePythonicCow]

Posted by mgray (here)
Would these banks not be the primary counter-parties to DB on European debt? And could this be the first wave of contagion? Just sayin'.

Good point .

In light of that observation, we might never know the answer, whether the primal cause of a collapse of multiple banks, if such a collapse happens, was the criminal probe of Deutsche, or the imbalanced balance sheets of several major banks.

[lucidity]

Posted by Paul (here)

Posted by mgray (here)
Would these banks not be the primary counter-parties to DB on European debt? And could this be the first wave of contagion? Just sayin'.

Good point .

In light of that observation, we might never know the answer,
whether the primal cause of a collapse of multiple banks,
if such a collapse happens, was the criminal probe of Deutsche,
or the imbalanced balance sheets of several major banks.

The french banks are already insolvent and have been since 2008.
Zero Hedge has been calling this since 2009. So has Max Keiser.
When Deutsche falls, or is bailed out, the bank most likely to fail
is Société Générale. They're already teetering on the edge.
UBS actually did fail in 2008 and was bailed out by the Swiss tax payer.

The banks are still writing these credit default swaps betting on the
default of other banks. And it's reciprocal !
It means that if one goes down, they all go down.
They're still playing on the derivatives market casino,
and even as market makers they're losing money.

[Wide-Eyed]

Posted by lucidity (here)

Posted by Paul (here)

Posted by mgray (here)
Would these banks not be the primary counter-parties to DB on European debt? And could this be the first wave of contagion? Just sayin'.

Good point .

In light of that observation, we might never know the answer,
whether the primal cause of a collapse of multiple banks,
if such a collapse happens, was the criminal probe of Deutsche,
or the imbalanced balance sheets of several major banks.

The french banks are already insolvent and have been since 2008.
Zero Hedge has been calling this since 2009. So has Max Keiser.
When Deutsche falls, or is bailed out, the bank most likely to fail
is Société Générale. They're already teetering on the edge.
UBS actually did fail in 2008 and was bailed out by the Swiss tax payer.

The banks are still writing these credit default swaps betting on the
default of other banks. And it's reciprocal !
It means that if one goes down, they all go down.
They're still playing on the derivatives market casino,
and even as market makers they're losing money.

From zerohedge : http://www.zerohedge.com/news/2016-0...deally-more-qe

[lucidity]

Posted by lucidity (here)
This is actually, the _really_ big news.

The financial collapse of China ? Bullsh!t.

The financial collapse of America ? It will happen in Europe first.
And it will happen in Europe this year.
It will break up the European union and it could break up NATO.

The current Bitcoin price is $403 (from btc-e.com)
Anyone want to bet me that bitcoin hits $500 before the end of Feb ?

Notice that the bitcoin:litecoin price is currently 0.00781 (from btc-e.com)
In other words 1 litecoin is worth 0.781 percent of 1 bitcoin
Whenever, in the past, there's been a bitcoin rally, the value of litecoin has
risen in multiples of value relative to bitcoin. So it might go to 0.015
or 0.022 (say) ... but understand that's relative to bitcoin's (rising) value.
So if you put $100 dollars on bitcoin. And bitcoin doubles, you get $200.
If you put $100 dollars on litecoin and bitcoin doubles, you get $400 or $600.
Go check the historic bitcoin/litecoin charts to check what i'm telling you
is true. See here: http://coinmarketcap.com/currencies/litecoin/

be happy

lucidity

DATE: 18th of Feb.
BTC: $420
source: btc-e.com

$500 before the end of Feb ?

Mark my words, as the European banking collapse
progresses, watch the impact on bitcoin prices.
(..but also keep an eye on litecoin prices)

be happy

lucidity

[ThePythonicCow]

In his monthly HatTrick newsletter, released today, Jim Willie is expecting a major failure of several of the large Western money center banks, within the next couple of months, quite possibly starting with Deutsche Bank, due to the immense insolvency of their vast derivative book.

Other European banks at high risk to fail, perhaps even before Deutsche Bank, include Credit Suisse, Santander, Barclays, and RBS. Major US banks at high risk include Wells Fargo, Bank of America, Citibank, JPMorgan, and Goldman Sachs. A Hattrick reader who is a bank teller at Wells Fargo informed Jim that they have begun training for a possible bank holiday requiring emergency security measures.

If it goes down as Jim anticipates, then the financial and monetary markets will resemble my "Houston, we have lift-off" graphic, at the end of my post Spinning our wheels - a monstrous monetary/economic/financial metaphor.

[Wide-Eyed]

A Hattrick reader who is a bank teller, ? Paul is that a typo or not sure how it reads what it is stating ? Thx

[ThePythonicCow]

Posted by Wide-Eyed (here)
A Hattrick reader who is a bank teller, ?

Yes .

[ramus]

Ex-Deutsche Bank trader banned over Libor rigging

Published: Mar 2, 2016 6:01 a.m. ET




By
Ian
Walker

LONDON--The Financial Conduct Authority said on Wednesday that it has banned former Deutsche Bank AG trader Michael Ross Curtler for his part in a conspiracy to manipulate the bank's U.S. dollar Libor submissions.

Between 2000 and 2012, Mr. Curtler traded a variety of financial instruments tied to U.S. dollar Libor and received requests from Deutsche traders to alter his submissions for the benefit of Deutsche and the individual traders, the regulator said.

Mr. Curtler made alterations to the submissions consistent with these requests and also solicited requests from traders and changed his submissions accordingly, the FCA added.

Mr. Curtler pleaded guilty before the U.S. District Court for the Southern District of New York for his role in the conspiracy on Oct. 8, 2015.

The FCA has imposed eight fines, totaling GBP758.4 million ($1.06 billion), on firms for misconduct relating to Libor. Former Rabobank traders Lee Stewart and Paul Robson have previously been banned by the FCA for manipulating Libor.

Mr. Curtler is awaiting sentencing by the U.S. District Court where he faces a maximum period of imprisonment of 30 years. In addition, he faces a maximum fine of $1 million or twice any gain or loss to others resulting from his offense. He could also be ordered to pay restitution.

Write to Ian Walker at ian.walker@wsj.com

[Hervé]

Rothschild Bank Now Under Criminal Investigation After Baron David De Rothschild Indictment

By Matt Agorist March 5, 2016

Last year, Baron David de Rothschild was indicted by the French government after he was accused of fraud in a scheme that allegedly embezzled large sums of money from British pensioners.

It has taken many years to bring this case against Rothschild and his company the Rothschild Financial Services Group, which trapped hundreds of pensioners in a bogus loan scheme between the years of 2005 and 2008.

One by one the pensioners lost their money and pressed charges against the notorious banker, beginning a case that would take many years to get even an indictment.

In June, Paris-based liaison judge Javier Gómez Bermudez ruled that Rothschild must face a trial for his crimes, and ordered local police to seek him out in his various mansions that are spread throughout the country.

“It is a good step in the right direction. The courts are now in agreement with us that there is enough evidence to interrogate Baron Rothschild. The first thing they will have to do is find him. Once they have done that they can begin to question him. It is a real breakthrough moment for everyone involved,” lawyer Antonio Flores of Lawbird told the Olive Press after the ruling.

“In short, independently of what happened to the investment, Rothschild advertised a loan aimed at reducing inheritance tax, which is a breach of tax law,” he added.

While news of a single Rothschild being indicted is certainly noteworthy, a particularly important announcement was made this Friday.

The French government announced that it has launched an investigation into the entire Swiss branch of the Rothschild’s banking empire.

According to Bloomberg,

The Swiss unit of Edmond de Rothschild said it’s the subject of a French probe regarding a former business relationship managed by a former employee.

“Edmond de Rothschild (Suisse) SA is actively participating in the criminal investigation under way,” the Geneva-based bank said in an e-mailed statement on Friday. “The bank denies all the allegations that have been made against it.”

Edmond de Rothschild, a private banking and asset management firm established in Paris in 1953, oversees about 150 billion euros ($164 billion) and is led today by Baron Benjamin de Rothschild and his wife Ariane. The Swiss unit traces its roots to the acquisition of Banque Privee in Geneva in 1965.

The company has no further comment at this time, according to the statement. Officials in Geneva weren’t immediately available to respond to a telephone call from Bloomberg News on Friday.

The Rothschild empire has been instrumental in helping move the global elite’s wealth from traditional tax havens like the Bahamas, Switzerland and the British Virgin Islands to the U.S.

Last month, the Free Thought Project reported on the above the law tax haven established inside the United States by the Rothschilds.

After opening a trust company in Reno, Nev., Rothschild & Co. began ushering the massive fortunes of the world’s most wealthy individuals out of typical tax havens, and into the Rothschild run U.S. trusts, which are exempt from the international reporting requirements.

The Rothschild banking dynasty is a family line that has been accused of pulling the political strings of many different governments through their control of various economic systems throughout the world.

Historically, there is ample evidence to show that the family has used insider trading to bilk money from both private and public funds.

During the Battle of Waterloo in the Napoleonic wars, Nathan Rothschild was responsible for one of the oldest cases of “insider trading,” which led to the Rothschild family robbing a whole nation blind. In 1815 when the battle of Waterloo took place, there were no quick methods of communication like we have today so messengers were used for communication in times of war. The Rothschild’s took advantage of this by having spies on the frontlines of the battle who would return information to the family faster than the messengers used by the military.

When the British won the war, Nathan Rothschild, was of course, the first to know, and he immediately went to the stock exchange and started selling stocks while putting out the rumor that the French had won the war. This created a panic on the floor of the stock exchange and investors all over England began frantically selling their stocks. With the price of all stocks plummeting Rothschild was able to buy out the whole English market for a fraction of its cost. When word returned that the English had actually been victorious, the value of the market soared, and overnight Nathan Rothschild expanded his family’s wealth, and cemented their position as one of the richest families in the world.


Matt Agorist is an honorably discharged veteran of the USMC and former intelligence operator directly tasked by the NSA. This prior experience gives him unique insight into the world of government corruption and the American police state. Agorist has been an independent journalist for over a decade and has been featured on mainstream networks around the world. Follow @MattAgorist

[pueblo]

Looks like this might be an attempt at a back door bail out for DB? They have over €64 trillion in derivatives exposure

Deutsche Bank Derivative Implosion have been confirmed by the pending sale of $1.1 TRILLION in derivatives to 3 US big banks

JPMorgan, Goldman Said to Discuss Buying Deutsche Bank Swaps

~Lender looking to complete sale of $1.1 trillion swaps book

~Deutsche Bank has sold about two-thirds of book since 2015

Deutsche Bank AG, the lender exiting some trading operations, is in talks with JPMorgan Chase & Co., Goldman Sachs Group Inc. and Citigroup Inc. to sell the last batches of about 1 trillion euros ($1.1 trillion) in complex financial instruments, people with knowledge of the matter said.
Deutsche Bank, based in Frankfurt, has sold about two-thirds of the portfolio of uncleared, mostly single-name credit default swaps since last year and wants to sell the rest within the next few months, according to the people, who asked not to be identified as the talks are private. The three U.S. banks have already purchased some of the instruments, the people said.

http://investmentwatchblog.com/deuts...-us-big-banks/

http://www.bloomberg.com/news/articl...che-bank-swaps

[3(C)+me]

It's getting better or worse, depending on your perspective:

Source: https://youtube.com/watch?v=I1OcFUbs-XM