Deutsche Bank CEO’s Forced to Resign Over Imminent Derivatives Melt-Down?

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From: http://www.silverdoctors.com/deutsche-bank-ceos-forced-to-resign-over-imminent-derivatives-melt-down/

The co-CEOs of Deutsche Bank have unexpectedly stepped down.  Recall that Deutsche Bank is now the largest holder of derivatives in the world.
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.

Submitted by PM Fund Manager Dave Kranzler, Investment Research Dynamics.

Before I start in on subject matter of the title, I wanted to post a comment someone sent me about the Martin Armstrong assertion that the decline in Swiss exports to Asia signals a decline in demand from China.  An assertion that I said was invalid and that – by design – the Chinese Government has made it impossible to track the amount of gold imported to China.    Here’s the remark from a very well-respected market analyst:

The decline of gold shipments from Switzerland to China can be due to a declining supply of gold at current prices.  And for a guy [Armstrong] who’s smart, he should be able to figure out the LBMA paper market fraud in a second but he just can’t seem to get it.

The co-CEOs of Deutsche Bank unexpectedly stepped down.  Recall that Deutsche Bank is now the largest holder of derivatives in the world.  LINK

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.  Because of accounting rules, we have no possible way of knowing what DB’s OTC derivatives book looks like.  Although Jain oversaw the build-up of the book, it’s likely that not only does he not know where all the bodies are buried, he has lied to the board of directors and shareholders about the riskiness of the bank’s holdings.

I know Jain from personal experience with him right after Deutsche Bank acquired Bankers Trust for BT’s derivatives capabilities.  It instantly put Deutsche Bank in the forefront of the fraud-based OTC derivatives business.   Jain has lost money wherever he worked .  He was brought over to DB from Merrill when Edson Mitchell assumed the reigns at Deutsche Bank’s US unit.

I just remember thinking Jain was about as sleazy as they come.   His sole charge was to build Deutsche’s derivatives book of business into the biggest in the world.   From there he sleazed his way into the CEO position, a few years after Mitchell went down in plane accident.  He then proceeded to climb to the top of Deutsche Bank by conspiring to “shoot” then-CEO Josef Ackerman in the back.

Deutsche Bank is sitting on a powderkeg of derivatives dynamite.  DB is also the entity that has leased out most of Germany’s sovereign gold.   From a good friend of mine who worked at DB and still keeps in touch with former colleagues:   “Deutsche Bank is sitting on a lethal amount of derivatives and everyone at the bank knows it.”

This is the quote from the person who sent me the article linked above:

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!!

Anshu Jain has thus overseen the world’s largest arsenal of deadly financial derivatives. When Deutsche Bank goes down in flames, the Jain’s bank account should be the first source of funding the losses.  May whatever Higher Power there may be up above help us all when the derivatives financial nuclear daisy-chain starts to blow…

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