Nov 15, 2022
Blockify Crypto exchange files for bankruptcy
No withdrawals allowed because you are included in the BK filing... paused in all wallets and credit card products.
Dominoes falling next to the big lie stock market? You be the judge.
Deutsche Bank headquarters raided over money laundering
The Frankfurt headquarters of Deutsche Bank have been raided by prosecutors in a money laundering investigation.
Germany's public prosecutor alleged that two staff members have helped clients launder money from criminal activities.
Police cars were seen outside the tower blocks that house the headquarters of Germany's biggest bank.
Five other Deutsche offices in the city were searched in an operation involving about 170 police and officials.
Prosecutors are looking into whether Deutsche Bank staff helped clients set up offshore accounts to "transfer money from criminal activities".
The investigation, which began in August, focuses on activities between 2013 and the start of 2018.
In 2016 alone, more than 900 customers were served by a Deutsche Bank subsidiary registered in the British Virgin Islands, generating a volume of €311m, the prosecutors allege.
The investigation was sparked by revelations in the 2016 "Panama Papers" - an enormous amount of information leaked from a Panamanian law firm called Mossack Fonseca.
Other banks have been fined as a result of information contained in the Panama Papers.
Deutsche shares fell 3% after news of the raid emerged. The bank confirmed that police had raided several locations in Germany and that it was co-operating fully with the probe.
Paperwork and electronic documents were seized by officials during the raids on the bank's properties.
Deutsche has been connected with another huge money laundering scandal at Denmark's Danske Bank.
Earlier this month, Deutsche confirmed that it was involved in processing payments for the Danish bank in Estonia.
An internal investigation by Danske found that about €200bn (£177bn) of payments were funnelled through its Estonian branch.
The Danish bank said many of those payments were suspicious.
Deutsche said it had terminated its relationship with Danske in 2015 after "identifying suspicious activity".
Fines and sanctions
Deutsche Bank has been sanctioned in the past for failing to tackle money laundering.
In September, Germany's financial regulator ordered the bank to take further action to prevent money laundering and terrorism financing.
It also appointed an independent auditor to monitor Deutsche Bank's efforts over three years.
In 2017, Deutsche Bank was fined $630m (£504m) by US and UK regulators in connection with a Russian money laundering plan.
Under the scheme, clients illegally moved $10bn out of Russia via shares bought and sold through the bank's Moscow, London and New York offices.
The trouble with authorities comes at a time when Deutsche continued to face problems with its business.
Pre-tax profits for the three months to September fell 45% to €506m compared with the same period last year.
Chief executive Christian Sewing, who took over in April, has been shedding jobs and making other cost cuts in an attempt to revive the bank's performance.
However, investors have yet to be been won over by his efforts and Deutsche shares have halved this year.
There is a video with English subtitles - 3 minutes. It is a testimony of Russian soldier when they were liberating Mariupol
I think Thesaker.is is the very best place on the web to find the truth. Im thinking maybe the Ukraine situation might need its own Forum for comments rather than news
I dunno what a Spoiler here is for. Why is it used? What is it? Just testing.
“🔥RED ALERT🔥IT's Triffin DOOM and WHAT YOU NEED TO KNOW!”
“The global monetary system is broken and something has to end for something to begin. From destruction comes creation. Kristalina states that maybe they didn’t entirely think through inflating the money supply. Too much money and too few goods. They are reactionary and can only deal with one crisis at a time. We have a myriad of emergencies which paints the central banks into a corner. Inflationary pressures with a weakened economy. Inflate or deflate? Both options are bad will have a bad outcome. We live in a globalized economy. Every nation is dependent on each other in order to produce goods and services. With technology this trend has continued and is beneficial to everyone. The issue we do not have a level playing field. Larger countries have advantages in this system. A digital world of national walled gardens connected with public chains where trust can be assured and a level of transparent will insure a level playing field. No more accusations of currency manipulation, Robert Triffin in 1960 wrote a paper called the Triffin Dilemma, He points out that having a world reserve currency is unsustainable. The US will be in perpetual trade deficits and will not be able to service domestic policy because global policy will contradict. Meaning the US dollar will inflate away but the fed can not raise rates because it will crush the global economy due to every country’s dependence on dollars. This is what we are seeing today. As the fed raises interest rates smaller nations are crippled. John Maynard Keynes was an economist and Every central banker today is a Keynesian economist that subscribes to his economic theory. the Keynes plan discussed the idea of a bancor. This is a jurisdictional asset that is free from a country’s monetary policy. The Bancor replaces the dollar as the reserve currency and is able to inflate and deflate without crippling the issuing nations economy. We are a living in a world of distrust and decentralization is a technology that eliminates the need for trust. Todays system heavily relies on trust and this is where the problems come into play, with trustless systems no one country is responsible for global monetary policy all nations de peg from each other. The US can’t print money for good and China can no longer devalue its currency for an edge with trade. Not to mention all trade becomes efficient with the internet of value no more waiting weeks for money to settle no more high fees. UAE government is adopting crypto and is using it as a payment gateway. Ripple has made a lot of traction in the MENA region. Dr. Zayed Al Hemairy, thinks when the time right the US will jump on board to this digital paradigm. How are they going to fix the roof? CPI is at 8.5% the fed fighting inflation means it crushes the global economy. At the same time there is a restructuring of the global economy. When this comes to a conclusion we have more distrust, more fragmentation. In this environment how does the world move forward? Trustless protocols will bridge international trade. National walled gardens bridged by the internet of value.”
The above video presentation was created by Darren Moore, Jr who has the knack for capturing the epic moments in the financial matters. I have followed his channel from time to time. I am also going to post another presentation on a topic we are not supposed to know. Things that look like they are unrelated are actually connected, and as I have been saying: All road leads to the City of London.