Deutsche Bank, AG, along with numerous foreign banking interests with U.S. subsidiaries, enjoyed massive liquidity infusions, courtesy of the U.S. Federal Reserve, to help them deal with their faltering financial conditions and debt burdens during the great financial crisis 2007-2010.
Excerpts from: Bloomberg Nov 28, 2011:
“Deutsche Bank AG, Germany’s biggest bank, navigated the financial crisis without capital injections from the German government. The Frankfurt-based bank, which in 2008 reported its first annual loss since World War II, wasn’t so shy about getting liquidity in secret from the U.S. Federal Reserve. The lender tapped the Fed for $66 billion on Nov. 6, 2008 — $28.2 billion from the Term Securities Lending Facility, $21.8 billion from single-tranche open market operations and $16 billion from the Term Auction Facility. John Gallagher, a Deutsche Bank spokesman, declined to say whether the bank took emergency loans during the crisis from other central banks, such as Germany’s Bundesbank.”
Peak amount of debt held on 11-6-2008: $66B
……………………………………………………………………….
During the two years leading into Deutsche Bank’s financial windfall from the U.S. Fed, it was also engaged in the “Sale of toxic securities leading up to the financial crisis” and a Libor Interest Rate Scam” which defrauded U.S. tax-paying citizens via excessive interest charges on municipal loans. Source: Deutsche Bank’s Five Biggest Scandals
“Deutsche Bank was one of a series of lenders guilty of selling and pooling toxic financial products in the lead-up to the 2007 and 2008 financial crisis.”
“The bank signed a $7.2 billion settlement with the US Department of Justice in 2017, after being accused of having sold investors bad mortgage-backed securities between 2005 and 2007…”
Deutsche Bank’s charges involved “espionage, money laundering and interest rate scams,” including:
1. Laundering Russian money – In 2017, Deutsche Bank was fined a total of $630 million (€553.5 million) by US and UK financial authorities over accusations of having laundered money out of Russia.
2. Libor interest rate scam – Deutsche Bank had already been fined a record $2.5 billion dollars bv US and British authorities for its role in an interest scam between 2003 and 2007.
The bank’s London subsidiary pleaded guilty to counts of criminal wire fraud, after it was accused of fixing interest rates like the London Interbank Offered Rate (Libor), used to price a hefty amount of loans and contracts across the world.
3. “Violating U.S. economic sanctions” involving countries like Iran, Libya, Sudan
Fast-forward 11 years to May 8, 2019. Deutsche Bank is sinking hard. The Fed’s generous ‘bailout’ of this corrupt financial heavyweight was a total waste….
Chart accessed from: Gold Core, May 8, 2019
___________________________________________
If the U.S. Federal Reserve can transfuse the likes of Deutsche Bank with $66 billion in ‘secret liquidity funding’……….
Then U.S. citizens deserve nothing less than to be granted that same direct access to liquidity.
The Leviticus 25 Plan – An Economic Acceleration Plan for America
$75,000 per U.S. citizen – Leviticus 25 Plan 2020 (3298 downloads)