‘Currency Crash’ Drives British Pound To A 31 Year Low As Deutsche Bank Sinks To The Lowest Level Ever

British Pound Brexit - Public Domain

The fallout from the Brexit vote continues to rock the European financial system.  On Wednesday, the British pound dropped to a fresh 31 year low as confidence in the currency continues to plummet.  At one point it had fallen as low as $1.2796 before rebounding a bit.  As I write this, it is still sitting at just $1.293.  Meanwhile, the problems for the biggest banks in Europe just continue to mount.  At one point on Wednesday Credit Suisse hit an all-time record low, and German banking giant Deutsche Bank closed the day at an all-time record closing low of 12.93.  Overall, Europe’s Stoxx 600 Bank Index closed at the lowest level in almost five years.  What we are watching is a full-blown financial meltdown in Europe, but because it is not personally affecting them yet, most Americans are not paying any attention to it.

The collapse of the British pound that we have seen since the Brexit vote has been nothing short of breathtaking.  In fact, CNN says that this “is what a currency crash looks like”…

This is what a currency crash looks like. The pound has slumped to $1.28, its lowest level in more than three decades.

Investors are dumping the pound following Britain’s vote to leave the European Union on June 23. The pound has dropped roughly 15% since the referendum day, when it reached $1.50.

After appearing to stabilize, the pound resumed its decline this week after three big asset management firms halted withdrawals from real estate investment funds.

Of course this is likely only just the beginning.  There are some analysts that are suggesting that the British pound could eventually hit parity with the U.S. dollar at some point.  We are seeing seismic shifts on the foreign exchange market right now, and this is going to affect trillions of dollars worth of currency-related derivatives.  It will be exceedingly interesting to see how all of this plays out.

Meanwhile, Deutsche Bank continues to get absolutely hammered.

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Average Joe
Average Joe
5 years ago

How it plays out? More “printing” of course, for as soon as the money-go-round stops the party is over……or a least until the next level of fraud is enforced.

LT
LT
5 years ago

I called the end of DB four years ago, and quite frankly I’m shocked that they have survived as long as they have -- but of course, the globalists have done everything necessary to preserve their favorite harlot. Like the proverbial cat, Deutsche Bank had nine lives…
https://ncrenegade.com//editorial/does-deutsche-bank-have-nine-lives/

The operative word being, “had”. But it appears that even 9 lives are not enough when you are as massive and insolvent as DB has become. And while many shallow thinkers will opine that ‘it was BREXIT that killed DB’, those of us who have been following along for the past two decades know better.

Deutsche Bank, and it’s North American real-estate arm, Deutsche Bank NA, have been financing the socialist dream, both in Europe and the United States, for the last four decades.

When you ‘follow the money’ of the 2008 “financial crisis” one of the biggest doorsteps you find yourself upon is that of DB. In 2008, DB was the second largest holder of real-estate mortgages in the US, and was the principal fiduciary for nearly half of all the Mortgage Backed Securities (MBS) then in circulation (and more than half of the MBS which were found to be “junk” when their purposely tangled skein was unwound).

So why, you ask, wasn’t DB allowed to go bust right then and there, like Bear Sterns?

Because unlike Bear Sterns, DB was firmly attached to the *Socialist Dream* of a grand new world order, where unelected bankers and technocrats were to be in charge of the entire world economy. And for that reason, DB was bailed out by the American Tax Payer, as one of the biggest recipients of TARP/TARPII free money from the Globalist camp within the American government; further, Ex Post Facto changes to property and mortgage lending laws were rammed through to protect DB from the consequences of it’s deceptive and patently illegal scheme to turn residential mortgages into “Investment Bonds”, while selling ‘the notes’ associated with said mortgages to fly-by-night ‘Mortgage Servicing Companies’ which were nothing more than shell companies which profited from “PMI” (Private Mortgage Insurance) and other hidden ‘fees’ and ‘penalties’ assessed upon the holders of those mortgages -- even when such fees, penalties, and insurance requirements were *not in the original mortgage contracts* which the home purchasers had signed. Tens of thousands of Americans lost their homes to the vile and demonic machinations of Deutsche Bank and it’s shell-partners, the ‘Mortgage Servicing Companies’ which it spawned.

In short, Deutsche Bank has arisen, the WHORE clothed in Purple -- the accursed whore, queen of blaspheme and every form of fornication, upon whose head is written, BABYLON THE GREAT, MOTHER OF HARLOTS AND ABOMINATIONS…

And if you think I’m exaggerating by calling Deutsche Bank, ‘Babylon’, that’s only because you haven’t seen the rest of the story, nor the uncloaking of BABYLON and the rise of the BEAST… yet. But some of us will live long enough, to witness for ourselves BABYLON and THE BEAST upon which BABYLON rides… and then will the eyes of man see how they are related.

By Grace even ye may hear the proclamation from Heaven, “That great Babylon is fallen, is fallen; which made all nations to drink of the wine of the wrath of her fornication.”

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