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Deutsche Bank Offices Raided By Authorities

Tyler Durden's picture




 

Just two days after Deutsche Bank co-CEOs Anshu Jain and Jürgen Fitschen announced their resignations, the bank's offices in Germany, France, and the UK have been searched by authorities. 

  • DEUTSCHE BANK HQ SEARCHED BY AUTHORITIES THIS MORNING: CNBC
  • DEUTSCHE BANK SAYS SEARCH RELATED TO SECURITY DEALS BY CLIENTS
  • DEUTSCHE BANK SITES IN FRANKFURT, LONDON, PARIS SEARCHED: BILD

Deutsche says the searches are related to "security deals by clients" and apparently do not involve allegations of wrogndoing by the employees.

From Reuters:

Deutsche Bank confirmed its offices in Frankfurt had been searched on Tuesday and said investigators were looking for evidence related to client transactions, with no Deutsche Bank employees accused of wrong-doing.

 

A spokesman for Germany's largest lender said the raid had been conducted on behalf of prosecutors in the German city of Wiesbaden, who were seeking evidence of securities transactions by the bank's clients.

Statement from the bank:

Today the offices of Deutsche Bank in Frankfurt are being searched by the Public Prosecutor's Office. The search relates to an investigation into securities transactions by clients. Employees of Deutsche Bank are not accused of any wrongdoing.

From Spiegel (via Google translate):

The specific allegations, the Attorney General's Office Frankfurt declined to comment first. Introduce "in an ongoing process procedural coercion" by a judiciary spokesman said on Tuesday in Frankfurt.

 

To subject and scope of the investigation, the authority could not say anything because "operational phase" nor walk. However, the spokesman said no one associated with the procedure for VAT fraud in the trading of pollution rights (CO2 allowances).

 

According to a German bank spokesman, the raid directed against shady business of individual customers. "I can confirm that there is on behalf of the prosecutor's office in Wiesbaden today searches offices of Deutsche Bank in Frankfurt," the spokesman said. "The search aims to ensure evidence in connection with investigations against customers with respect to certain securities transactions. There are no employees of the bank accused." More details - about the shops the customer - did not want to call the speaker.

*  *  * 

Over the past several years, Deutsche Bank has paid out some $9 billion in connection with legacy litigation and may settle with the DoJ in the coming months over the bank's role in selling shoddy MBS in the pre-crisis years. Here's more on the bank's various legal troubles.

From DB annual report:

We are currently the subject of regulatory and criminal industry-wide investigations relating to interbank offered rates, as well as civil actions. Due to a number of uncertainties, including those related to the high profile of the matters and other banks’ settlement negotiations, the eventual outcome of these matters is unpredictable, and may materially and adversely affect our results of operations, financial condition and reputation. 

 

A number of regulatory and law enforcement agencies globally are currently investigating us in connection with misconduct relating to manipulation of foreign exchange rates. The extent of our financial exposure to these matters could be material, and our reputation may suffer material harm as a result. 

 

A number of regulatory authorities are currently investigating or seeking information from us in connection with transactions with Monte dei Paschi di Siena. The extent of our financial exposure to these matters could be material, and our reputation may be harmed. 

 

Regulatory and law enforcement agencies in the United States are investigating whether our historical processing of certain U.S. dollar payment orders for parties from countries subject to U.S. embargo laws complied with U.S. federal and state laws. 

 

We have been subject to contractual claims, litigation and governmental investigations in respect of our U.S. residential mortgage loan business that may materially and adversely affect our results of operations, financial condition or reputation.

 

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Tue, 06/09/2015 - 06:29 | 6177668 MonetaryApostate
MonetaryApostate's picture

And so it begins...

Tue, 06/09/2015 - 06:30 | 6177671 Headbanger
Headbanger's picture

Nope... So it ends!

Tue, 06/09/2015 - 06:32 | 6177674 fightthepower
fightthepower's picture

What begins?

Tue, 06/09/2015 - 06:39 | 6177685 Manthong
Manthong's picture

It’s all good

..as long as they do not disturb the derivatives book

Tue, 06/09/2015 - 06:50 | 6177702 nmewn
nmewn's picture

Zactly, more than likely "the authorities" are there to remove evidence of a crime not to document it.

Tue, 06/09/2015 - 07:00 | 6177719 Tall Tom
Tall Tom's picture

Do not fret too much.

 

Greece will be the coup d'grace.

 

Time to celebrate the end of the Fraudulent Ponzi Game!

Tue, 06/09/2015 - 07:10 | 6177733 Manthong
Manthong's picture

Your keyboard to Thor's hammer.

Tue, 06/09/2015 - 07:17 | 6177747 NoDebt
NoDebt's picture

"However, the spokesman said no one associated with the procedure for VAT fraud in the trading of pollution rights (CO2 allowances)"

You mean they rigged the CO2 market, too?  Is nothing sacred??

And believe me, if the "authorities" show up in 3 of your worldwide offices simultaneously to collect evidence, your employees DID DO SOMETHING WRONG.

 

Tue, 06/09/2015 - 07:33 | 6177779 FinalEvent
FinalEvent's picture

My name?

Tue, 06/09/2015 - 07:50 | 6177822 Arnold
Arnold's picture

Don't forget to dust the tungsten while you are in there!

Tue, 06/09/2015 - 07:47 | 6177814 remain calm
remain calm's picture

Sum Ting Wong

Tue, 06/09/2015 - 09:44 | 6178274 HungryPorkChop
HungryPorkChop's picture

Yep', their main job will be to protect those derivative$ and bet they have an army of MBA'$ ready to figure out how much $uper Mario Money is required to stabilize. 

Disclosure:  I am long ink, paper and industrial printer$. 

Gentlemen:  Start your printer$.

Tue, 06/09/2015 - 12:54 | 6179122 TREE MAN
TREE MAN's picture

I've got an MBA. ...nottingham 

Yeah...Master of Bugger All

Tue, 06/09/2015 - 06:55 | 6177708 Tall Tom
Tall Tom's picture

Derivatives...Uh....What are those?...Duh...

 

The public has no idea about the tsunami which is going to hit. LMAO.

 

Then add in Greece.

 

Fuck you Merkel. Let other countries handle their own shit, eh, Merkel?

 

Of course it will take down the World...

 

Goodbye socialists.

 

Looking forward to September...

 

Yeah!!! LMAO.

 

Time to CELEBRATE the collapse of the fraud and crruption.

 

The World Economy is toast. Yes!!!

Tue, 06/09/2015 - 07:14 | 6177739 Haus-Targaryen
Haus-Targaryen's picture

Enough coffee.  You are essentially the less entertaining Anglo-Saxon version of wolferl. 

Tue, 06/09/2015 - 07:42 | 6177796 MonetaryApostate
MonetaryApostate's picture

He's right except the end of fraud & corruption, no that's clearly fantasy talk there... :D

(It will though likely lead us towards massive banker wars.)

Tue, 06/09/2015 - 07:52 | 6177829 Arnold
Arnold's picture

Yea!

Casting moar silver bullets.

(won't be enough though)

Tue, 06/09/2015 - 06:44 | 6177689 XAU XAG
XAU XAG's picture
Deutsche Bank Offices Raided By Authorities

 

SACRE BLEU!

Tue, 06/09/2015 - 08:48 | 6178020 Freddie
Freddie's picture

Were the authorities looking for Nazis?  The nazis being funded by the EU-SSR and USSA-zio in the Ukraine?

Tue, 06/09/2015 - 08:56 | 6178049 Bush Baby
Bush Baby's picture

DB paid out 9 billion in the last few years.
They could've bailed out Greece.

Tue, 06/09/2015 - 06:51 | 6177692 MonetaryApostate
MonetaryApostate's picture

All the signs point towards massive changes implemented by Government(s), who, now being broke, must start seizing assets, and that's really just the tip of the iceberg really...  I don't think this will be an isolated incident...

http://galeinnes.blogspot.com/2015/06/the-fraud-quadrant.html

Tue, 06/09/2015 - 07:07 | 6177728 eclectic syncretist
eclectic syncretist's picture

What if governments make up their minds to nationalize the big banks? Kind of like what happened with Fannie and Freddie?

Tue, 06/09/2015 - 07:38 | 6177782 MonetaryApostate
MonetaryApostate's picture

They can't, it's global now, and it will likely rather lead to "Digitizing Banking" that way the government can monitor things better.  I'm sure the globalist are working hard at the system they want to use in the future, like Google Wallet, etc....  What we are seeing here is direct government involvement, which in all likelihood (Though I'm purely speculating at this point) will lead us all towards a mandated change that the governments have probably all agreed upon, long before we see those changes implemented, and so I say "And so it begins", which is to say we are beginning to see the changes they plan beginning to materialize, which of course include major shake ups at banks and likely also bank bail-ins.  The War on Cash is only the beginning, I say this because the elite will continue to consolidate, steal, and sieze assets till they have the entire system under their control absolutely, even globally...

(Obviously some people understand what the future holds...)

http://www.mckinsey.com/insights/business_technology/the_rise_of_the_dig...

http://www.i-scoop.eu/retail-banking-digital-transformation/

Tue, 06/09/2015 - 08:36 | 6177965 Fun Facts
Fun Facts's picture

The banks own the governments. Failure to understand that is a failure to understand everything.

"And the banks -- hard to believe in a time when we're facing a banking crisis that many of the banks created -- are still the most powerful lobby on Capitol Hill. And they frankly own the place,"

- Senator Dick Durbn on WJJG 1530 AM's "Mornings with Ray Hanania."

Tue, 06/09/2015 - 12:19 | 6178955 Deathrips
Deathrips's picture

I disagree.

Government chose to commit treason when they took money from the banks and were thus bought.....

The bank isnt the Fiduciary of the people, The .gov is obligated to be.

 

Get it straight.

 

RIPS

Tue, 06/09/2015 - 06:50 | 6177703 Al Gophilia
Al Gophilia's picture

What begins? Why, the investigation by the SEC and the CFTC, of course. Those banksters are toast.

Tue, 06/09/2015 - 07:14 | 6177730 eclectic syncretist
eclectic syncretist's picture

They can take some consolation in knowing that all their porn collections have been securely backed up by the NSA.

Tue, 06/09/2015 - 06:55 | 6177705 XAU XAG
XAU XAG's picture

Phone & e-mail watching has led them to look for some dirt

 

They would like to find a big ton of dung on somone

 

Who is it?????

 

Who is/are the Client/s ...............they are after??

Tue, 06/09/2015 - 08:44 | 6178000 Arnold
Arnold's picture

Chinese Merchants?

Tue, 06/09/2015 - 09:17 | 6178140 Bastiat
Bastiat's picture

Putin?

Tue, 06/09/2015 - 10:01 | 6178344 Cactus
Cactus's picture

FIFA?

Tue, 06/09/2015 - 07:39 | 6177791 firstdivision
firstdivision's picture

the next act in the circus.  hope you got your snacks during that small intermission.

Tue, 06/09/2015 - 06:34 | 6177677 Peter Pan
Peter Pan's picture

We are neither at the beginning nor the end. We seem to be forever stuck in the middle of it.

Tue, 06/09/2015 - 07:26 | 6177766 winchester
winchester's picture

middle of what  ain't notin to see, gtfo of 'er

Tue, 06/09/2015 - 06:39 | 6177684 slaughterer
slaughterer's picture

Actually, DB has been raided by the German police repeatedly in the last few months.  It is surprising that ZH just covers this latest raid.  

Tue, 06/09/2015 - 06:29 | 6177669 Peter Pan
Peter Pan's picture

They should not be raiding the offices of DB.

They should be closing them.

Tue, 06/09/2015 - 09:01 | 6178069 e-recep
e-recep's picture

Would you cut a goose open that laid golden eggs?

Tue, 06/09/2015 - 06:31 | 6177672 Tall Tom
Tall Tom's picture

Yes!!! Yes...yes...yes!

 

It is almost time for the fat lady's encore.

 

September approaches.

Tue, 06/09/2015 - 06:54 | 6177707 Haus-Targaryen
Haus-Targaryen's picture

If anything actually blows up in September, I'll shit a live clucking chicken while humming Yankee-Doodle Dandy.

Tue, 06/09/2015 - 06:58 | 6177711 Tall Tom
Tall Tom's picture

That is because YOU CELEBRATE FRAUD!!! You celebrate DISHONESTY.

 

Your ilk has LOST IT. You have lost control.

 

It is over.

 

For Whom the Bell Tolls...

 

And you thought that you were fucking the Greeks?

 

LMAO.

Tue, 06/09/2015 - 07:00 | 6177720 Haus-Targaryen
Haus-Targaryen's picture

I most certainly do not celebrate fraud.  I want this thing to collapse more than anyone.  I have a mountain of student loan debt I am looking forward to receiving my 1098-C in the mail.  

That being said,  I have come to appreciate this dragging on for much longer than any of us anticipate.   

Tue, 06/09/2015 - 07:45 | 6177808 Tall Tom
Tall Tom's picture

I have a mountain of student loan debt ...

 

You claim you do not celebrate fraud yet want it to collapse so you can stiff your creditors???

 

I see right through your bullshit.

Tue, 06/09/2015 - 08:00 | 6177851 Arnold
Arnold's picture

 TT   Only Saints walk through life without some perceived hippocracy, and not many of them.

That being said,  you are correct about his student loan funny business.

Tue, 06/09/2015 - 08:13 | 6177889 Ghordius
Ghordius's picture

"Rule by Horses" or hypocrisy? I could as well ask why he does not default, since he is outside of the US. But I'm for sure not an expert on this madness called US Student Loans

Tue, 06/09/2015 - 08:34 | 6177932 Arnold
Arnold's picture

Thanks, inadvertent word play on my part.ald

(Spell check is still my friend despite his shortcomings and mine.)

Tue, 06/09/2015 - 08:49 | 6178026 Arnold
Tue, 06/09/2015 - 07:47 | 6177815 MonetaryApostate
MonetaryApostate's picture

In the spirit of the whole "September thing..." 

https://youtu.be/NU9JoFKlaZ0

Tue, 06/09/2015 - 06:59 | 6177715 XAU XAG
XAU XAG's picture

@Haus-Tararyen

 

There is always "some thing blowing up" every day around the world.

 

Just like it is always 5 O CLOCK some where in the world CHIn CHIn!

Tue, 06/09/2015 - 07:37 | 6177788 Beowulf55
Beowulf55's picture

If anything actually blows up in September, I'll shit a live clucking chicken while humming Yankee-Doodle Dandy.

I got dibs on the pay-per-view rights..........

Tue, 06/09/2015 - 07:35 | 6177776 TeethVillage88s
TeethVillage88s's picture

I was trying to remember what happens in September.

- End of US Federal Gov Fiscal Year, but funding is usually some Continuing Resolution in July or August maybe

- US Budget, Final Numbers might be close by September, but think there is a lag in publishing?

- Treasuries have to be Sold in September, heard they wanted to sell more long Term ones this time

- HE-LOC Credit Period ends on many, start of time to pay back HE-LOC Balances

- Start of US Holiday Shopping for Retail? Back to School Shopping? Hunting Season/Camping Season Retail Sales?

Tue, 06/09/2015 - 08:30 | 6177934 OceanX
OceanX's picture

shemitah,  debt jubilee ... Seventh, 7 year cycle.  And the 4th blood moon...

Tue, 06/09/2015 - 09:00 | 6178060 lincolnsteffens
lincolnsteffens's picture

Pope comes to US to speak before Con-gress and then the UN. Will he actually reveal some truths or just help establish the New World Order.  He is a Jesuit....

Tue, 06/09/2015 - 09:04 | 6178085 Ghordius
Ghordius's picture

funny "this or that" question. as you said, the Pope was a Jesuit

ergo he will carefully use selected words in well-prepared sentences in order to get several messages across at the same time

but he is also a South American, isn't he? Argentinian. what do you think they regard as the NWO? what do you think is their definition?

Tue, 06/09/2015 - 06:34 | 6177676 The_Prisoner
The_Prisoner's picture

Jump, you fuckers!

Tue, 06/09/2015 - 06:35 | 6177678 CarpetShag
CarpetShag's picture

During the authorities' toss of Douche Bank's offices, large suitcases full of derivatives were removed.

Tue, 06/09/2015 - 06:41 | 6177687 crackpuff
crackpuff's picture

Just more theater. No one will ever go to jail, at least no one too big to fit under a bus. They may or may not get a token fine that dwarfs whatever money they made off the scams they get busted for. Just a bunch of show so they can say, "See, look. The government is in control and here to protect the little guys." It wouldn't surprise me if governments use it to start trying to get their alibis straightened out before the turd explosion ignites

 

Tue, 06/09/2015 - 08:07 | 6177870 Arnold
Arnold's picture

My Derivatives portfolio is safely deposited in the Caymans./s

Tue, 06/09/2015 - 06:42 | 6177688 Racer
Racer's picture

no Deutsche Bank employees accused of wrong-doing.

 Of course not, that would never ever do

Tue, 06/09/2015 - 06:44 | 6177691 casey13
casey13's picture

If it was related to clients would they not just ask for the documentation?

Tue, 06/09/2015 - 06:53 | 6177706 CrimsonAvenger
CrimsonAvenger's picture

Yes. Yes, they would.

Tue, 06/09/2015 - 07:20 | 6177752 NoDebt
NoDebt's picture

Yes.  Absolutely correct.

Tue, 06/09/2015 - 07:28 | 6177768 TeethVillage88s
TeethVillage88s's picture

Deusche Bank may not be toeing the line, US Policy.

- Maybe they are not paying contributions to Zios
- Maybe they are fighting the NATO War with Russia, New Cold War
- Maybe they have been prosecuted, Fined, and are fighting back with the truth that the whole system in USA is Rigged, and presenting that data to others
- Push Back

- But yeah they have always bent the rules from what I heard

Tue, 06/09/2015 - 06:49 | 6177700 chairman of the...
chairman of the bored's picture

Paslode makes a great hose-less nailgun.very convienient for use in high rise bank buildings...

Tue, 06/09/2015 - 07:20 | 6177753 NoDebt
NoDebt's picture

<----  Looks like this.

Tue, 06/09/2015 - 06:52 | 6177704 Commodore64
Commodore64's picture

Psychopaths raided bij psychopaths... another amazing discovery.

Tue, 06/09/2015 - 06:57 | 6177710 nmewn
nmewn's picture

One of the side benefits of "legitimacy" is everyone is supposed to believe what you say you found, not what you discarded (because it might harm your patron) or what you placed there (to harm your antagonist).

Its all above board, nothing to see here, move along...lol.

Tue, 06/09/2015 - 07:09 | 6177731 Oldwood
Oldwood's picture

All that is important is the "appearance" of legitimacy. There are none actually legitimate in this.

Tue, 06/09/2015 - 06:58 | 6177713 Panic Mode
Panic Mode's picture

All bad banks but the foreign ones are getting a bit of a stick unless they compromise the US request - *cough* fuck Putin up *cough*.

Tue, 06/09/2015 - 07:08 | 6177729 TeethVillage88s
TeethVillage88s's picture

Are we sure Deucshe Bank wasn't making waves, putting out charts on US Corruption, Financial Rigging, NonGAAP Accounting, Frequent Adjustments to Corporate Profits in the US Markets (like ALCOA).

- Whistleblowing has a price (Yesterday's ZH Article)

http://www.ft.com/cms/s/0/7c36c050-0e0b-11e5-8ce9-00144feabdc0.html#ixzz...

“The continued fiscal stress is tempting states to continue, and even intensify, budgeting and accounting practices that obscure their true financial position, shift current costs on to future generations, and push off the need to make hard choices on spending priorities and revenue practices,” Mr Volcker said in a report released on Monday by the Volcker Alliance, a government reform group he founded in 2013."

Tue, 06/09/2015 - 07:39 | 6177792 Son of Loki
Son of Loki's picture

Most likely true...they are lap dogs for the Fed like so many moar. The ones who don't 'cooperate' sleep with the fishes.

Tue, 06/09/2015 - 07:11 | 6177735 RealityCheque
RealityCheque's picture

Robbing the robbers.

Tue, 06/09/2015 - 07:41 | 6177797 firstdivision
firstdivision's picture

"DEUTSCHE BANK SAYS SEARCH RELATED TO SECURITY DEALS BY CLIENTS"

Let me guess, one of those "clients" are Goldman Sachs, which is having the company radied due to GS lost money on the deal and DB made the money.  Must be nice to be king of the banks.

Tue, 06/09/2015 - 07:26 | 6177764 SmittyinLA
SmittyinLA's picture

Move along, these arent the drones we're looking for, one thing is for sure, this and the trillions in bad debt Germany is sitting on has nothing to do with the war in Ukraine. Those are unrelated events, Germany is just concerned about Uki neighbor's roperty rights.

Tue, 06/09/2015 - 07:29 | 6177770 SpanishGoop
SpanishGoop's picture

Cartman "you will respect my authority !"

https://www.youtube.com/watch?v=gx4jn77VKlQ

 

Tue, 06/09/2015 - 07:38 | 6177775 teutonicate
teutonicate's picture

End Game - The Low-Trust Cabalist Society has arrived.

You know, what is sad about this is that there was a time in our history when a story like this would have been taken at face value because:

1) We would fundamentally have trusted the honesty and integrity of banking executives.

2) We would have trusted that the media would have reported the events in an unbiased manner without any ulterior motives, and without being subjected to excessive outside influence.

To be honest, I expect that this story is true as reported.  But thanks to the influences of the cabal, we will never know, and our rational instincts tell us to question it.

This is the true cost to our society of the traitorous cabal.

Unless we do something, this is the legacy that we will leave our children and grandchildren.

Tue, 06/09/2015 - 07:40 | 6177795 TeethVillage88s
TeethVillage88s's picture

LOL Apparently Blackmailing Deucshe Bank was not enough to get them to agree to Fund WWIII or the War against Russia & China.

Tue, 06/09/2015 - 08:30 | 6177935 Pullmyfinger
Pullmyfinger's picture

The Germans are just getting up to speed on building a case against the U.S.-led financial system. Many German industrialists are desperate to end all sanctions, so they are in the process of providing a sufficient public rationale to force the government into finally pulling the plug on the U.S. and join up with the Russian/Asian trade union.

Tue, 06/09/2015 - 20:40 | 6180932 teutonicate
teutonicate's picture

I think a better characterization of the problem is the cabel-led financial system, not the US-led financial system.

The cabal is a corrupting influence in all financial systems world-wide - including Germany's.  The American people are as much against the cabal-led financial system as the Germans are.

People of white European descent world-wide need to work together to eliminate this poison in our societies.

We welcome unity with our German brothers, as many of us Americans are ethnic Germans and we value that identity and heritage.

Tue, 06/09/2015 - 07:37 | 6177786 q99x2
q99x2's picture

Paid for by Goldman Sachs. Arrest Lloyd Blankfein.

The savages are turning to cannibalism.

Tue, 06/09/2015 - 07:59 | 6177849 Bopper09
Tue, 06/09/2015 - 08:14 | 6177876 Pullmyfinger
Pullmyfinger's picture

No wonder both CEO's resigned: some of their clients were involved in shady securities transactions! One can scarcely imagine their righteous indignation.

Tue, 06/09/2015 - 08:12 | 6177887 22winmag
22winmag's picture

Obviously they didn't steal enough.

Tue, 06/09/2015 - 08:21 | 6177903 Pullmyfinger
Pullmyfinger's picture

Only $54 trillion in derivatives and unrealized thievery so far. Pikers.

Tue, 06/09/2015 - 09:29 | 6178202 Brazen Heist
Brazen Heist's picture

Nailguns on order?

Tue, 06/09/2015 - 09:47 | 6178289 yellowsub
yellowsub's picture

Too bad their offices isn't in the US where prosecuting of large banks is unheard of.

Tue, 06/09/2015 - 09:49 | 6178295 Jtrillian
Jtrillian's picture

One word... derivatives. 

As the worlds largest holder of derivatives, DB could very well be the next Lehman.  Are we witnessing the beginning of the next financial collapse? 

Tue, 06/09/2015 - 10:24 | 6178434 F0ster
F0ster's picture

The Berlin Whale?

Tue, 06/09/2015 - 10:42 | 6178512 TheABaum
TheABaum's picture

What "authorities"?

Do they mean co-conspirators?

Tue, 06/09/2015 - 15:56 | 6179957 MASTER OF UNIVERSE
MASTER OF UNIVERSE's picture

"Deutsche Bank Offices Raided"?

 

As if that will send alarm throughout the banking Empire, eh.

 

No bank employee or chief executive will wind up in State Prison so who gives a rat's behind if an 'office gets raided' anymore?

Tue, 06/09/2015 - 18:52 | 6180601 xcehn
xcehn's picture

"The ONLY reason these resignations would have been unexpectedly coerced like this is if Deutsche Bank was having a potentially uncontrollable problem in its OTC derivatives holdings."

http://investmentresearchdynamics.com/the-brown-stuff-is-flying-closer-t...

"I’ve never seen so many sophisticated Wall Street’ers this scared in my entire career. – This comment comes from a very well-connected Wall Street/DC insider and is in reference to how illiquid the bond markets have become. Something deep and dark has transpired behind the Orwellian “curtain” used by the elitists to hide the inner workings of the financial markets, especially with regard to big bank balance sheets and OTC derivatives. What’s happening right now reminds of the movie “Jurassic Park.” You can hear and feel the monster coming but you can’t see it yet and you don’t know it will pop up in your face or how big it is...."

"A collapsing global economic system will exert an unanticipated and extreme amount of stress on highly leveraged financial systems. This stress is “magnified” by the enormous amount of derivatives which are connected to the disastrous amount of global debt...."

"I believe the illogical movement in 10yr Treasury yields reflects the fact the Fed is losing control of its tight grip on the bond market and longer term interest rates. Note that German bunds have also experienced a similar spike up in interest rates and volatilty. In the context of my view that there was a derivatives accident somewhere in the global banking system in the last two weeks, it could well have been an OTC interest rate swap bomb that detonated...."

"Again, I believe that this action in the bond market is pointing to the fact that the Fed is losing control of the markets. I also believe that the catalyst for this loss of control is a big derivatives accident of some sort in the last two weeks...."

"This could be the start of the big financial markets inferno that many of us have been expecting for quite some time."

http://investmentresearchdynamics.com/a-derivatives-bomb-exploded-within...

Do NOT follow this link or you will be banned from the site!