In this report, I cover the early market action from London on Monday, June 17th, 2019. I look briefly at the precious metals, the stock market, the dollar, the bond market and the price of WTI and Brent crude oil.
Today I look again at the Zombie Bank or Deutsche Bank. Over the weekend Deutsche Bank announced a new plan to create what is called a "bad bank". All the plan does is move the toxic assets from the bank's derivatives' book to another entity and then try to offload these bad or toxic assets to others.
Unfortunately for Deutsche Bank and its shareholders, this exercise in subterfuge is not a new thing as the bank already tried a "bad bank" back in 2016. So why should another "bad bank" help solve the German lender's troubles?
My conclusion is that our current monetary and central banking system needs to be completely abolished as it goes against all the tenets of free markets and capitalism. Banks should not get preferential treatments from the government and should be allowed to fail just like any other business.
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Deutsche Bank to set up €50bn ‘bad bank’ as part of overhaul
https://www.ft.com/content/d146b22c-9033-11e9-aea1-2b1d33ac3271
"All the Plenary's Men" by John Titus:
