Is Deutsche Bank about to become the next Lehman Brothers, sparking the imminent global financial recession?

Those who were watching the news in 2007 may remember the last Global Financial Recession starting with the collapse of Lehman Brothers, one of the biggest banks in the world. Pictures of staff walking out of the offices with their cardboard boxes full of stuff abounded. This was the first domino in what led to the biggest global financial crash of the twenty-first century.

Well, the next recession in the predictable cycle is long overdue and it looks like the signs are beginning to show that it is imminent, as the very same scenes of staff leaving Deutsche Bank (DB) now fill the financial news reports globally.

Lehman Brothers 2.0

In what looks like Lehman Brothers 2.0, the biggest bank in the EU and 15th largest bank in the world by total assets, namely DB, is laying off 18 000 staff in multiple branches internationally over the next three years. This is part of their proposed $8.3 billion overhaul, ironically announced on a Sunday, while nobody could do anything about it. Unlike Bitcoin, which has been on a bull run all year and trades 24/7, the traditional banking sector looks like the patchwork stop-gap measure they put in place in 2008 to curtail the crisis, is now failing and the real crisis is emerging.

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Bitcoin born in the ashes of the 2008 global recession

It was in the wake of that very same financial meltdown in 2008 that Satoshi Nakamoto launched Bitcoin for the first time. It was obvious that the mainstream financial system is corrupt and doomed to fail, and so Bitcoin was designed as the alternative. Central banks are basically the world’s biggest rouge hedge funds with no accountability and access to unlimited bailouts with taxpayer’s money.

Well now the end of their Ponzi scheme is arriving.

And the precarious situation they find themselves in is worse than before because the global debt is 400% higher than it was in 2008.

Is this the start of the Eurozone collapse?

DB is going through a major restructuring, scrapping its global equities and trading operations and focusing on lending, another big hit to the overall EU finance sector. If anything could collapse the Eurozone, then this is it. The system was flawed form the start, trying to put the southern nations in the same basket as the north.

Greece, Italy, Spain and Portugal are already is a situation where they can never repay their debts to the ECB, with Italy even flaunting the idea of bringing back the Lira. Central banks have tried to remedy the situation by creating super low or zero percent interest rates, but this “extend and pretend” mentality is failing and with nowhere else to go, the bail out is being supplemented by the “bail-in”.

Negative interest rates are now being introduced (like Cyprus in 2008) in a neo-feudal system that is occurring, like in Italy where the contents of safety deposit boxes of bank clients are being taxed, along with old family estates.

ZIRP

With no other ammo left in their arsenal it looks like zero percent interest rate policy (ZIRP) is here to stay and as a result banks like DB are unable to make a profit and are being forced to streamline, cutting one in six of their workforce. And with the finance sector suddenly flooded by the unemployed looking for jobs, many will be forced to leave their chosen industry altogether.

DB share price fell around 5% on the back of this news so far, on a price that’s already 95% down since 2008. They are now looking to cut costs by 74 billion euros in the next three years, hence the lay-offs.

This is not capitalism

This is not actually capitalism in its true sense, but rather a kleptocratic crony-capitalist farce, where the biggest bank in the EU, with all the financial tools in the world, still cannot make a profit and is simply allowed to receive tax-payer bailouts by amputating their 50 billion euro bad debt from their books, and shifting it to a newly created “bad bank” to be owned by the German government aka the taxpayer.

This shows something rotten in the state of Deutschland and the entire EU and, in fact, the entire western capitalist system as it is practised today. And it has been failing for some time so this is a predictable outcome that we see unfolding now at DB.

Bitcoin to the rescue

While this is all going down, Bitcoin is going up, in an unprecedented bull rally, never before seen in the history of finance globally. Cryptocurrency is the solution to the failing banking industry on the planet today. And the experts in crypto are saying as much.

“Deutsche Bank plans to fire almost 20,000 employees. Bitcoin has no employees to fire. DB is built for the old world. And Bitcoin is built for the new world.”

Morgan Creek Digital Assets co-founder Anthony “Pomp” Pompliano

The modern capitalist system had its chance and it was hijacked by the elite 1% that run the world in their favor. Now their Ponzi scheme is crashing. The masses are now given a tool in the form of Bitcoin, which is as powerful as the printing press in the Renaissance, to liberate them from the control of the elite and their corrupt monetary system. It has arrived.

The recession is here.

The inverted yield curve a few months ago predicted it. There is no maybe about it. It may not come as a sudden crash but more of a slow slide down into collapse and bankruptcy. This is the time to really hedge your investments with Bitcoin before it’s too late. This is the canary in the coal mine.

If you don’t heed this warning, then you only have yourself to blame.