What’s A Few 4500 Billion Euros These Days?

Give or take 1000 billion? Fur European taxpayers, I mean. When the financial system “Draghi crases” and burns after the interest rates start heading up again.


Bank expert Markus Krall shows in the book “The Draghi Crash” what drastic measures are needed to save Europe from the death of the financial system. Five measures are necessary – otherwise threatening costs up to 4500 billion euros.

The vast abuses in the banking sector hang like a sword of Damocles on Europe. “We are all trapped in the trap that the ECB has dug for itself and us with its Keynesian interest rate policy,” warns Markus Krall. The imbalances in the credit sector are so huge that even a small turnaround in interest rates could lead to a crash.

The problem: the Eurozone countries do not have the resources to deal with the consequences this time around. In Germany 3000 billion euros of national wealth are at stake. Krall estimates the total amount of defaulted loans in the European banking system to be at least 1000 billion euros. And when interest rates rose, an unprecedented wave of bankruptcies threatened Europe’s zombie companies. “That costs again up to 1500 billion euros,” said the consultant.

Staatsschulden, Lebensversicherungen, Bankbilanzen – Banken-Experte Markus Krall zeigt in dem Buch “Der Draghi-Crash”, welche drastischen Maßnahmen nötig sind, um Europa vor dem Exitus des Finanzsystems zu retten. Fünf Maßnahmen seien nötig – sonst drohen Kosten bis zu 4500 Milliarden Euro.


Germany Outraged Over Swiss Outrage About German Outrage

So that’s why Germany has indicted a Swiss citizen on suspicion of espionage for spying on German tax investigators.


It’s complicated and goes like this: The German state government of North Rhine-Westphalia (SPD – at that time) decided to openly deal in stolen goods by purchasing, from a criminal who worked for a Swiss bank, a CD containing details on German clients of said Swiss bank. These Germans were dodging German taxes and this illegally acquired CD was then used to pursue numerous tax evasion cases in Germany.

The Swiss, outraged by this, had one of their spies try to obtain information on tax officials in North Rhine-Westphalia and wiggle his way into their system but he got caught doing so.

The Germans, outraged by this, have now indicted him for this outrageous activity and are outraged, as usual, that anyone could ever be outraged by any of the outrageous stuff Germans are always doing, which, in and of itself, is also an outrage. Like I said, complicated. Outrageously complicated.

Zunächst beschaffte er laut Bundesanwaltschaft persönliche Daten von drei nordrhein-westfälischen Steuerfahndern. Später platzierte er demnach eine Quelle in der nordrhein-westfälischen Finanzverwaltung.

German Government Fears Trump Would Ravage American Economy

But I happen to have access to a German code breaking machine here called the Enigma-Not and it tells me that what this actually means is that the German Government fears Trump would ravage the German economy.


When I ran “shrinking gross domestic product, fewer jobs and higher unemployment in the United States” through the Enigma-Not, for instance, it gave me  “NATO countries like Germany, Trump has said, have to pay more of the costs for their own security in the future. Otherwise, the US would withdraw its troops.”

Meanwhile… Trump’s biggest lender is Deutsche Bank. He owes about $300 million to the bank, nearly half of his outstanding debt.

German Of The Day: Albtraum

That means nightmare. You know, like Nightmare on Elm Street? Or Nightmare at Deutsche Bank?

Deutsche Bank

Read my lips, the usual suspects are saying: Everything is fine, the German government is not preparing a bailout, there have been no secret talks with the chancellor and there is nothing here that needs to be rescued in the first place. Now say that ten times really fast.

The German government denied it was working on a rescue of Deutsche Bank as Germany’s biggest lender boosted its balance sheet by selling its British insurance business on Wednesday.

Deutsche is facing a $14 billion fine from the Department of Justice, and concerns over its funding pushed its shares to a record low on Tuesday and heightened concerns about the health of the financial sector in Europe’s largest economy.

“Die Situation des Konzerns ist viel besser, als sie von außen wahrgenommen wird.”

German Of The Day: 5 Billionen

That means 5 trillion (don’t ask, but it really does). And that’s how many euros German savers have set aside for a rainy day.


That’s going to be one rainy day.

Zwar investierten die privaten Haushalte ihr Geld trotz niedriger Zinsen vor allem in kurzfristige und vermeintlich sichere Bankeinlagen. Trotzdem wuchs ihr Geldvermögen von Juli bis September 2014 um 28 Milliarden Euro oder 0,6 Prozent auf 5,01 Billionen Euro, wie die Deutsche Bundesbank mitteilte.

Is Possession Really Nine-Tenths Of The Law?

Strange. Stored abroad since the Cold War in case of a Soviet invasion, nearly half of Germany’s gold reserves are stored in the United States.

Stranger still: The Bundesbank or other independent auditors have never actually physically checked the gold’s authenticity or weight but have relied on “written confirmations by the storage sites” instead.

Now folks are starting to, you know, wonder (paranoia runs deep)? Hey, central banking at its best is all I can say. It’s not that we don’t trust you, it’s just that we don’t trust you.

“Ein Teil der Diskussion in Deutschland ist schon einigermaßen grotesk.”

Nothing New And Nothing Improved

That tired old SPD.

With three tired old SPD guys trying to decide which one of them will have to be the one tired old SPD guy who will have to be the contender in next year’s election against the ridiculously popular Angela Merkel.

So like one of them, former Finance Minister Peer Steinbrück, threw his hat into the ring yesterday, sort of.

His angle? Eat the banks. Split their investment and retail units and have them create their own rescue fund and make them be good and nice again like they used to be in the past (I guess) als die Welt noch in Ordnung war (when the world was still in order).

Been there, done that. Yawn already. Bring out the next stooge and let’s get him over with, too.

“Banks are service providers and not betting shops.”

I Know, I’ll Blame The Banks!

In a brilliant and risky move never yet attempted by a left-wing politician ever before, SPD boss Sigmar Gabriel has boldly proposed to improve his parties chances at next year’s federal election by “blaming the banks” for everything that has gone wrong in the financial sector and elsewhere.

“Mind-blowing,” one German political commentator said. “No one has been able to put these complex puzzle pieces together like this up until now. But by calling the banks extortionists, accomplices to tax evasion, hustlers and manipulators, Gabriel develops a subtle analysis of a highly complicated theme, thus making it easily accessible to the man on the street.”

“Die versammelte Linke in Deutschland betrügt sich selbst und betrügt die Bürger, wenn sie einerseits die Krise mit immer neuen Schulden bekämpfen will – und dadurch die Abhängigkeit von den Banken und Finanzinstituten erhöht, die man andererseits blindwütig an den Pranger stellt.”

“The entire left tricks itself and the citizens when, on the one hand, it calls to fight the crisis with ever more debt – thus making us even more dependent upon the banks and financial institutions – and then, on the other, mindlessly blaming them for everything.”

It’s Good To Be The German

In case you didn’t know it, Germans are sitting on a big honking tremendous pile of money.

The Bundesbank thinks that German private households are in posession of ein paar tausend Milliarden or “a few thousand billion” euros (stick with that, believe me: Billion is Milliarde in German, trillion is Billion). They’ve got more set aside now then ever before, in other words; some 4.7 trillion euros.

And the punch line is that they seem to have invested most of it at those awful horrible dreadful banks they like to despise so much (they make big banks even bigger, you might say). Investments in real estate haven’t even been calculated here, by the way. Rereading this is starting to make my stomach hurt.

Privatleute vertrauen Vermögen den Banken an.

Geld ist doch für alle da

There’s money here for everybody. Remember the financial crisis? Long, long ago (in Germany)?

It seems that the Federal Reserve’s emergency loan programs really helped out a lot after all–German banks, that is. Hey, what’s a few trillion among friends?

Deutsche Banken haben das Förderprogramm der US-Notenbank inmitten der Finanzkrise kräftig genutzt.