by Bix Weir, Road To Roota, via SGT Report.com:
Like I said many times over the past 6 months…the derivatives in Europe have gone SIDEWAYS and there is blood in the back rooms of the world’s biggest derivative traders! News yesterday that $6B in derivatives were being “internally investigated” at the world’s largest derivative holder, Deutsche Bank, is followed today by the resignation of BOTH of it’s CEO’s!! [Photo credit: AP]
The two current co-chief executives of embattled German banking giant Deutsche Bank, Anshu Jain and Jürgen Fitschen, are stepping down, the bank announced Sunday.
Germany’s largest bank issued a statement saying its supervisory board “decided at an extraordinary meeting today” to appoint John Cryan, 54, to the position of Co-Chief Executive Officer, effective July 1, 2015. – END –
With $75 Trillion in derivatives imploding in Europe even BEFORE the Greek derivatives go bad it is just a matter of time now before EVERYTHING goes with it.
Oh…did I mention that President Obama just happens to be in Germany today getting his drink on?
What’s it all mean? I have long showed how the USA and Germany have been collaborating to keep the system going but the past few years have been stressful. Remember the Oval Office interview by Brian Williams a few years back that I analyzed right before Germany asked for their physical Gold back from the US Fed?
The bigger question to ask now is…. “How many silver and gold derivatives does Deutsche Bank control and what will happen to them if they go bankrupt?”
Gonna be another crazy week!
May the Road you choose be the Right Road.
Road To Roota.com
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