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Wednesday, July 27, 2016

Deutsche Bank Profit Plunges 98% And The Worst Is Yet To Come



Image result for deutsche bank broke

The latest confirmation that Germany's troubled banking giant Deutsche Bank is unable to navigate the troubled waters of NIRP came on Wednesday when the bank announced that its second-quarter net income fell 98% from a year earlier, hurt by weaker performances in trading, investment banking and other core areas. The lender said net income tumbled to €20 million ($22 million) from €818 million a year earlier, modestly better than the €22mm loss expected, while net revenue dropped 20% to €7.4 billion. 
After rebounding modestly on the beat, the bank’s shares fell tumbled 5% on Wednesday morning, their lower level in 2 weeks; today's decline has dragged DB stock 45% lower in 2016, making it one of Europe's worst performers YTD (the Stoxx 600 is down 27% in 2016).
As the WSJ notes, the Frankfurt-based bank has been hit harder than most. It is cutting costs and clients and trying to satisfy new, more-stringent capital requirements over the next three years. Its turnaround strategy has eaten into trading and investment-banking revenue, and investors’ concerns about the adequacy of its capital cushion have persisted. The bank also has been trying to settle regulatory investigations expected to result in big fines, another uncertainty for investors.
Chief Executive John Cryan said in a statement that the bank is making progress in a multiyear turnaround, but warned that if weak market conditions persist, it “will need to be yet more ambitious in the timing and intensity of our restructuring.”  
Deutsche Bank CEO John Cryan
Investors were unimpressed, and the shares now trade for two thirds less than their tangible book value, a steeper discount than even during the depths of the financial crisis. 
What is more troubling is that as Bloomberg adds, the worst is yet to come.
The second quarter gives little cause for celebration. In a quarter which saw revenue sink 12% and net income came in at almost zero,  even after litigation costs tumbled, the only division to increase revenues and profit was Postbank, the consumer unit, which Cryan hopes a "white knight" will take off his hands. And unlike rival Commerzbank, Deutsche Bank was able to boost its key capital ratio fractionally in the quarter.The focus on cutbacks meant that Deutsche Bank was unable to benefit from its strength in fixed-income trading in a quarter during which the U.K. vote to leave the European Union stoked market volatility.
While debt trading revenue climbed 22 percent at the top U.S. investment banks in the quarter, Deutsche Bank's fixed-income trading revenue fell 19 percent. In foreign exchange, performance was flat, a sign that restructuring is preventing the bank from getting the most out of the market action. 
Low interest rates and economic uncertainty stemming from Brexit weighed on the lender’s biggest businesses last quarter. Revenue fell year-over-year in all four of Deutsche Bank’s business divisions, including asset management. The worst year-over-year revenue decline was in global markets, the bank’s securities-trading operation and its biggest unit by revenue. That division’s second-quarter revenue declined 28% from the year-earlier period. Within the business, overall sales and trading revenue fell 23% during the quarter from a year earlier. Debt trading tumbled 19%, a far cry from the 22% rebound among top US banks.
Another problem for the CEO is that the bank's cost-cutting effort is also lagging compared to US peers: while it is having some positive impact - expenses fell 5% from the year-earlier period - with revenue shrinking, the cost-income ratio remains stubbornly high at 91%. 
Another problem: headcount. It stood at 101,307 at the end of June, down by 138 full-time equivalents from the end of March, but still up on the year-earlier period. None of this looks like peak pain.
As Bloomberg adds, Cryan's suggestions on Wednesday that he might have to be "yet more ambitious" in the timing and depth of the restructuring looks like a promise to bolt the stable door long after the horse has bolted. The weak economic environment is unlikely improve soon, especially in Europe, where lower-for-longer interest rates are crushing bank profits. Worse, Deutsche Bank is also seeing rising loan losses from the shipping and metals and mining industries.
None of this bodes well for the execution of Cryan's strategy, and adding to the pressure is that rival banks moving faster with their overhauls: Italy's UniCredit is considering a 5.5 billion-euro capital raising and asset sales.Cryan would be right to ask his predecessors why they didn't move sooner and cut deeper. As it is, he's been left with what he admits will be a "sustained restructuring." Translated, that means peak pain is yet to hit.
Finally, the biggest problem for DB remains its massive balance sheet. Morgan Stanley analysts calculated that Deutsche Bank has a €9 billion capital hole to fill by 2018, and that's not including damage caused by future litigation costs, which considering DB's record of pervasive capital rigging, are sure to rise.

Credit to Zero Hedge




The Economic Storm Is Intensifying And It's Getting Worse

Clinton’s Secret Task Force Will Use Starvation Against Americans Who Rebel Against a Stolen Election



It is not just the funs that Hillary wants, she has been involved in high level meetings with Obama's DHS. After her election, she plans to use food quell and civil uprising in response to her stealing the election.
It is not just the guns that Hillary wants, she has been involved in high level meetings with Obama’s DHS. After her election, she plans to use food quell and civil uprising in response to her stealing the election.
I have a high level inside source that tells me that plans have already been made for Hillary Clinton, the planned beneficiary of a stolen election, will use food to starve Americans into submission. Do I believe it? This is absolutely true. Forget for a moment, that I have a reliable source that says that Clinton was brought into a secret DHS/FEMA task force just this purpose, the actions of the government not only make this possible, but probable.
Here is the first case in point: In recent years the Federal Emergency Management Agency (FEMA) has been regionalizing disaster supplies and rapidly procuring hundreds of millions of ready-to-eat meals, blankets, and body bags. Combined with the DHS’ suspiciously massive purchases of ammunition, one has to ask why are the Feds doing this?
In fact, the government has been buying so many supplies and in such large amounts that shortages have affected the world’s leading manufacturers to the point they’ve been forced to suspend shipments to retail customers of survival foods and ammunition. Thi shas been going on since 2013.

Hillary Is the Closer

In baseball, there are some applicable terms and strategies that applies to the globalist planned election of Hillary Clinton to the White House.
In 2008, when the elite were trying to determine who would be President, Obama or Clinton, both candidates disappeared to the Bilderberg meetings. In these meetings, Obama was selected to win the 2008 election. However, Obama was not chosen because he was the better candidate, he wasn’t for what the globalists wanted.
In baseball, the goal of most managers is to get the starting pitcher to pitch seven strong innings. In the 8th inning, they bring in the setup guy. He is the pitcher that holds down the fort and sets up the closer for victory. In the 9th inning, the team brings in the closer. The closer is a devastatingly good pitcher and he will typically finish the job of the starting pitcher and the set up 8th inning pitcher. Obama was the 8th inning set up pitcher he has set the table, for Hillary Clinton to come in finish the job that Obama has started.

Executive Order 13603

In 2011, Obama enacted EO 13603 which allows for the introduction of slave labor and the control of all food into America. Here we are at the end of Obama’s second term and he has not acted upon EO 13603. He was never supposed to. He enacted 13603 as the set up man. This EO is in place for Hillary Clinton.
I have also learned that DHS has stockpiled food and that Hillary Clinton, as Secretary of State attended operational planning meetings with DHS with regard to using food as a weapon against the American people who might engage in a civil uprising if the globalists steal the eletion in favor of their candidate, Hillary Clinton.
In short, here is the power that Clinton will have over who eats and who will die.
If Clinton is elected, she will soon have total and absolute control over all food where EO 13603 states:
e)  “Food resources” means all commodities and products, (simple, mixed, or compound), or complements to such commodities or products, that are capable of being ingested by either human beings or animals, irrespective of other uses to which such commodities or products may be put, at all stages of processing from the raw commodity to the products thereof in vendible form for human or animal consumption.  “Food resources” also means potable water packaged in commercially marketable containers, all starches, sugars, vegetable and animal or marine fats and oils, seed, cotton, hemp, and flax fiber, but does not mean any such material after it loses its identity as an agricultural commodity or agricultural product.
(f)  “Food resource facilities” means plants, machinery, vehicles (including on farm), and other facilities required for the production, processing, distribution, and storage (including cold storage) of food resources, and for the domestic distribution of farm equipment and fertilizer…”
This unconstitutional EO is particularly disturbing in that it clearly states that the government has control over anything that is “capable of being ingested by either human beings or animals…”  If you thought that you and your loyal dog, Fido, were going to get through the coming food crisis by storing and consuming dog food, think again.
How will farmers maintain the nation’s food supply when all fertilizer, their farm equipment and all of their vehicles are under the control of this sociopathic  President or the next power-hungry President?
The term “all food storage facilities” includes your refrigerator, your pantry and even the very food in your cabinets as well as what is on your kitchen table. In short, anywhere you keep food is now under the control of the government and can be redistributed.
This is the total control of food. It is good to have inside sources, but sometimes, you don’t need them, you just need to know where to look for answer.

The Miliary Is Already Being Starved

In a case of “defend the nation and starve”, military families are feeling even more stress  from not being able to obtain sufficient quantities of food as 25% of America military families require outside assistance in getting enough to eat. What does this say about an administration which uses our soldiers to defend the nation and then kicks them to the curb by denying their VA  health benefits as the government also starves their families because they cannot survive on what we pay our soldiers? This is disgraceful, but it is the Obama fundamental transformation of American way!

 America Has No Way to Keep Up with Food Inflation

Late last year, the New York Times, stated that the typical American family is now worth 36% less than it was worth only 10 years ago!  Shockingly, one out of every six men, ranging in ages from 25 to 54, are not employed. Median family income in the United States is 7% lower than it was in 2000.
There is no way that the majority of American families can keep pace with food inflation as the wages of Americans are now inversely correlated with the rising food prices. This is a prescription for disaster. The most vulnerable to starvation within the present economic climate are the children as an amazing twenty six percent of all children are living below the poverty level.With these kind of distressing statistics, a significant number of Americans are vulnerable to politically motivated “food blackmail” in these  times of economic distress.
There is historical evidence that food vulnerability may have been planned for a long time by elements of the U.S. government.

The US Government and Its Food Deprivation Policies

food is not a weapon
The genesis for Clinton’s plan to seize guns and use food as a weapon in one all-encompassing action comes the Kissinger work on this problem decades ago.
The use of food as a political manipulation tool,  by the U.S. government, has been a matter of official U.S. governmental covert policy since 1974-1975.
In December, 1974, National Security Council directed by Henry Kissinger completed a classified study entitled, “National Security Study Memorandum 200: Implications of Worldwide Population Growth for U.S. Security and Overseas Interests.” The study was based upon the unproven claims that population growth in Lesser Developed Countries (LDC) constituted a serious risk to America’s national security.
In November 1975 President Ford, based upon the tenets of NSSM 200 outlined a classified plan to forcibly reduce population growth in LDC countries through birth control, war and famine. Ford’s new national security adviser, Brent Scowcroft, in conjunction with then CIA  Director, George H. W. Bush, were tasked with implementing the plan and the secretaries of state, treasury, defense, and agriculture assisted in the implementation of these insane genocidal plans.
kissinger useless eaters
"I'm in"
“I’m in”
NSSM 200 formally raised the question, “Would food be considered an instrument of national power? Is the U.S. prepared to accept food rationing to help people who can’t/won’t control their population growth?” Kissinger has answered these questions when he stated that he was predicting a series of contrived famines, created by mandatory programs and this would make exclusive reliance on birth control programs unnecessary in this modern day application of eugenics in a scheme that would allow Henry to have his cake and eat it too in that the world would finally be rid of the “useless eaters!”
Third world population control, using food as one of the primary weapons, has long been a matter of official covert national policy and a portion of President Obama’s Executive Order 13603 (EO), National Defense Resources Preparedness is a continuation of that policy. Only now, the intended targets are not the LDC’s, but are instead, the American people and after Obama declares martial law, food will undoubtedly be used to subjugate the more resistant regions of our country.
The lessons of history clearly demonstrate that dictatorial regimes, whether they be Socialists, Communists, and Marxists will not hesitate to use food as a weapon against their own people in order to solidify power and impose absolute autocratic control. Food can be withheld from the masses by preventing it from being grown and harvested, by contaminating it and rendering it unfit for human consumption or by simply preventing food from being distributed to a targeted population. And there is a third strategy that the government can employ when subjugating a population by withholding food, that would be food which has a long shelf life. And this is exactly what we see, the Federal government is stockpiling survival food with a long shelf life.

The Feds Have Been Preparing for the Coming Food Shortages Since 2008

As far back as 2008, I can find evidence that the government was attempting to stockpile as much survival food as possible. These events prompted prominent brokers and key media members to advise the public to begin storing food as long as six years ago in anticipation of what is about ready to happen.
In 2011, FEMA issued a “Request for information” (RFI), in which they inquired about the availability for 140 million emergency meal kits with a shelf life of 36 months along with blankets. Please read the FEMA document, listed below in the Appendix, and then I defy the reader to not be concerned about the long-standing pattern of this government in acquiring vast amounts of food.

Collision Course with Disaster

I dare any reasonable person to tell me that the circumstantial evidence does not support the fact that Hillary will starve America into subission if she is able to steal the election.
One can hope to survive if the government allows the banks to use the MERS mortgage fraud to seize your home. One can hope to survive if this administration seizes your guns. However, food inflation coupled with declining wages is a prescription for disaster. And when add to the fact that Hillary plans to use food as a weapon, we should all sit up and take notice.  I do not think it is possible to overstate the dangers covered in this article. America needs to prepare to defend themselves. The day of reckoning is coming. Buy survival food, store it and hide it! Make certain you have a way to protect your food and water. Form alliances with your neighbors. And don’t forget to store your Bible in your bug out kit.
Credit to Common Sense

Prepare to die in name of political correctness



Image result for be rape to be political correct



Brace For The New World: Gene-Editing Human Trials Begins in China

Democrats Worship Their gods at Democrat National Convention




Outside the 8ft wall surrounding the Democratic National Convention (DNC) in Philadelphia on Monday TRUNEWS has discovered footage of what seems to be a series of demonic rituals.

In the first clip, a man is shown dressed in a dark purple robe, wearing a purple face mask, pink hat, and adorning a necklace with a green phallic object. As footage progresses, the man raises up a golden statue while chanting indiscernible words in an out-loud mantra.

In the second clip, a group forms a circle around a pile of random clothing, posters, and backpacks, as well as the statue the purple robed man was holding. In unison, the group begins audibly chanting a buddhist-like call.


Credit to Trunews
- See more at: http://www.trunews.com/article/democrats-worship-their-gods-at-dnc#sthash.QeneMXZa.dpuf

IRS Launches Investigation Of Clinton Foundation


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IRS Commissioner John Koskinen referred congressional charges of corrupt Clinton Foundation “pay-to-play” activities to his tax agency’s exempt operations office for investigation, The Daily Caller News Foundation has learned.
The request to investigate the Bill, Hillary and Chelsea Clinton Foundation on charges of “public corruption” was made in a July 15 letter by 64 House Republicans to the IRS, FBI and Federal Trade Commission (FTC). They charged the foundation is “lawless.”
The initiative is being led by Rep. Marsha Blackburn, a Tennessee Republican who serves as the vice chairwoman of the House Committee on Energy and Commerce, which oversees FTC. The FTC regulates public charities alongside the IRS.
The lawmakers charged the Clinton Foundation is a “lawless ‘pay-to-play’ enterprise that has been operating under a cloak of philanthropy for years and should be investigated.”
Koskinen’s July 22 reply came only a week after the House Republicans contacted the tax agency. It arrived to their offices Monday, the first opening day of the Democratic National Convention in Philadelphia.
“We have forwarded the information you have submitted to our Exempt Organizations Program in Dallas,”Koskinen told the Republicans.
The Exempt Organization Program is the division of the IRS that regulates the operations of public foundations and charities. It’s the same division that was led by former IRS official Lois Lerner when hundreds of conservative, evangelical and tea party non-profit applicants were illegally targeted and harassed by tax officials.
Blackburn told TheDCNF she believes the IRS has a double standard because, “they would go after conservative groups and religious groups and organizations, but they wouldn’t be looking at the Clinton Foundation for years. It was as if they choose who they are going to audit and question. It’s not right.”
Blackburn said she and her colleagues will “continue to push” for answers on the Clinton Foundation’s governing policies, including its insular board of directors. She said they also will examine conflicts of interest and “follow the money trail.”
“In my opinion, there’s a lack of good governance, there is the appearance of conflicts of interest, and there are continued questions about the financial dealings,” she told TheDCNF.
House Republicans singled out Laureate Education and Uranium One as two companies that seemed to have paid lavish sums to the Clintons and later received official government benefits.
Laureate hired former President Bill Clinton as “honorary chancellor,” paying him $16.5 million over five years. The Baltimore-based company, which operates for-profit universities in 28 countries, also donated between $1 million and $5 million to the Clinton Foundation, according to the foundation’s web site.
While Bill was collecting a paycheck from the company and his wife was secretary of state, the International Finance Corporation (IFC), an arm of the World Bank, invested $150 million in Laureate. It was the largest-ever single IFC investment to an educational company. The United States government is the largest contributor to the IFC. During that same period, the Department of State’s U.S. Agency for International Development awarded $55 million to the International Youth Foundation. Laureate CEO Douglas Becker is on the foundation’s board of directors. International Youth Foundation, the Clinton Foundation and Laureate jointly participated in foundation programs.
A Laureate spokesman denied the quid pro quo charges: “Allegations of any quid pro quo between Laureate, the International Youth Foundation and the Clintons are completely false,” she told TheDCNF, adding, “the IFC’s decision to invest in Laureate had no connection to and was not influenced in any way whatsoever by Hillary Clinton.”
The IFC also awarded $150 million to another company owned by Frank Giustra, a close friend of Bill Clinton. Giustra donated $100 million to create the “Clinton Giustra Enterprise Partnership” within the Clinton Foundation. The funds went to Pacific Infrastructure, a company in which Giustra had a significant financial stake. The company was to build a port and oil pipeline in Colombia that was strenuously opposed by environmental and human rights groups because the pipeline sliced through five indigenous villages and forcibly displaced the tribes.
Giustra also was an owner in Uranium One, a uranium mining company with operations in Kazakhstan and in the western United States. Giustra wanted to sell a share of the uranium business to Russia’s atomic energy agency, which required U.S. approval, including that of Secretary Clinton. The Russian investment was approved.
Blackburn added that it appeared the Clinton Foundation — which was tax-exempt only to construct and manage Clinton’s presidential library — never got IRS approval to become a tax-exempt global organization with operations in Africa, Asia, Latin America, the Pacific and the Caribbean.
“In the Clinton Foundation we have a charity that has never filed the appropriate paperwork,” Blackburn charged.
Charles Ortel, a Wall Street analyst who has been investigating the Clinton Foundation, told TheDCNF that the expansion of the foundation into a global giant was not legally approved by the IRS.
“It’s crystal clear in a review of their application that their purposes were narrowly limited, as they should have been, to a presidential archive in Little Rock, Arkansas,” he said to TheDCNF. “End of discussion.”
Blackburn also questions the makeup of the Clinton Foundation’s board of directors, which IRS rules require include independent, arm’s-length board members. The Clinton Foundation board mainly consists of close friends, business colleagues and big donors to the Clintons, as reported by TheDCNF.
“All charities need to guard against incestuous relationships which limit their ability to be objective,” the congresswoman said. “In the Clinton Foundation, we see a lack of diversity within their board.”
Uranium One did not respond to TheDCNF’s request for comment. The Clinton Foundation also did not respond to TheDCNF’s request for comment.
Credit to Zero Hedge