Deutsche Bank toxic derivative losses

AG47

theEnd wrote: »

You really believe DB has lost 5 x the USA GDP in derivatives, but they're somehow keeping it quiet???

Talk some sense or this thread becomes nonsense.

They are trying to keep it quiet, but the truth is coming out.

How much do you think their toxic derivatives losses amount to? Bearing in mind how they were leveraged when they made these bets that they lost.

AG47

The Deutsche Bank 10.00 Euro stock threshold that will trigger the CoCo bonds actually happened. On Friday, just 3 days ago Deutsche Bank stock hit 9.90 on an intraday basis. This has triggered some of the 5B Euro CoCo bond conversion. all the contracts are written differently but clearly there was a move below that critical 10.00 Euros.

AG47

AG47 wrote: »

All the talk is about the coming bail in, all DB account holders will have to lose a percentage of their holdings, just like in Greece and Cyprus.

If I had my funds in DB and they are limiting withdrawals then I would go on a spending spree, as long as you have a debit card that still works for purchases. I would go and buy as much silver and gold bullion as I could get my hands on, then there is not so much units of currency left in my account t for them to steel.

AG47 wrote: »

DB ATMs are still down, and they are limiting digital withdrawals.

The thing is imagine you are living in Germany and all your wages and inome go into your DB bank account, and you outgoings all go out from there, where do you move to?

So there is a bank run at DB, because they are going to have to use depositor funds to pay their criminal fines and derivative losses, but are there any other banks that are safer?

Keeping your money in the bank used to be risk free return, now we are at near zero IRs and derivative exposure and leveraged banker making bets at 10,000:1 ratio the situation is now keeping money in a bank is return free risk.

There are reports of German depositors lining up outside the banks, but they will not let them withdraw their funds. A lot of worried account holders now. They want to get their money out before the bail in.

I bet they wish they withdrew their money before the coco bonds were triggered.

Woby_Tide

AG47 wrote: »

There are reports of German depositors lining up outside the banks, but they will not let them withdraw their funds.

Are these reports written anywhere, preferably on the internet rather than a scrap of paper on your desk, or are they being relayed from a tiny voice inside your head?

Thrugelmir

AG47 wrote: »

There are reports of German depositors lining up outside the banks, but they will not let them withdraw their funds. A lot of worried account holders now. They want to get their money out before the bail in.

Be difficult given that yesterday was a public holiday in German. :EasterBun

Electrum

All these reports of a conspiracy regarding DB ATMs still being down are nonsense.

Its just a computer glitch according to mainstream German media.

A computer glitch can happen to anybody, admittedly at a rather unfortunate time as people want their money out before the bail in, but its not a conspiracy theory that they purposefully are not letting people withdraw their funds, its just a glitch as the mainstream German media are saying. Admittedly its a bit unusual that it is lasting so long, youd think they could sort out this 'glitch' by now:rotfl:

I dont knot know, you conspiracy theorists :rotfl:

Electrum

Its not the first time this convenient computer glitch has prevented account holders withdrawing their funds. if you google DB ATM glitch there has been a few instances before the latest one this weekend that is still ongoing

https://www.google.co.uk/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF-8#q=DB+ATM+glitch

Electrum

Of Course It’s Only “Tech Issues” Keeping Deutsche Bank Customers From Accessing Their Money

http://www.activistpost.com/2016/10/course-tech-issues-keeping-deutsche-bank-customers-accessing-money.html

not the first time the beleaguered bank has suffered “IT Issues” or been unable to provide its customers with their money.

Here’s what you need to do immediately in the event of a stock market crash.

Take your money out of the bank ASAP. If you still keep your money in the bank, go there and remove as much as you can while leaving in enough to pay your bills. Although it wasn’t a market collapse in Greece recently, the banks did close and limit ATM withdrawals. People went for quite some time without being able to access their money but were able to have a sense of normalcy by transferring money online to pay bills or using their debit cards to make purchases. Get your cash out. You don’t want to be at the mercy of the banks.

mayonnaise

Electrum wrote: »

Here’s what you need to do immediately in the event of a stock market crash.

Take your money out of the bank ASAP. If you still keep your money in the bank, go there and yadda yadda

Thanks for the advice. Always appreciated when financially savvy people like you share their wisdom on forums like these.

Electrum wrote: »

I am paying back a few thousand in overpaid tax credits. I also have about £10K in other debts, and I meet all the other qualifiactions to qualify for a DRO.

AG47

I have a contact in Germany, he has his main bank account with DB. He just told me the 'I.T' problem still will not let them use ATMs or Internet banking to withdraw but the banks are open for you to pay funds into your account:T some have been allowed to withdraw a little but then the stopped all withdrawals again, or sorry there was another IT glitch coff