As the Trudeau government considers giving $35 billion in taxpayer money to an infrastructure fund that will be dominated by globalist banks, an Italian court is ripping into Deutsche Bank – a massive worldwide bank headquartered in Germany.
Deutsche Bank is already on trial in Italy for helping an Italian Bank – Banca Monte dei Paschi – hide losses.
Monte Paschi nearly collapsed, and it still fighting for their lives. In total 13 former bank managers from Deutsche Bank, another financial institution called Nomura Holdings, and Monte Paschi have been charged for “false accounting” and “market manipulation.”
Now, they are facing accusations that they were “running an international criminal organization.”
The bank’s original charges were just for manipulation of complex derivatives transactions. However, some are alleging that the market manipulation scheme was actually operating in several countries at the same time, which brings the potential crime to a whole other level.
This could lead to much higher penalties against Deutsche Bank if a conviction occurs.
As reported by Bloomberg, the scheme to hide the losses allegedly occurred between 2008 and 2012. The original indictment took place on October 1st 2014 in Milan, Italy.
An “International Criminal Organization”
Italian prosecutors want to label Deutsche Bank an “International Criminal Association,” based on what appears to be a level of coordination to the market manipulation and loss-hiding scheme.
According to the German regulator Bafin, Deutsche Bank employees may have “manipulated internal indexes,” to set a price for the deal with Monte Paschi in 2008.
The “deal” allegedly caused futures prices in Monte Paschi to spike – which would be a clear case of market manipulation if proven. THen, less than two minutes after, a trader from London sent an email saying “well done,” to Deutsche Bank’s head of European fixed income. That’s where the international coordination aspect comes in.
Surely, just a coincidence…
A corrupt system
Deutsche Bank’s current legal troubles are just the latest example of how the globalist banks have done severe damage to the economies of countless nations. They have gotten richer and more powerful at every turn, even as they fed into a system that has sucked the financial lifeblood out of hundreds of millions of people around the world.
When the economy goes up, they get richer.
When the economy goes down, they get richer.
And when the economy almost collapses, they get bailed out and get richer.
Deutsche Bank may be the most egregious current example, but even here in Canada we have seen that the banks have no problem treating customers like garbage.
When it is was revealed that all the top banks in Canada (as stated by many employees), were using manipulative and deceptive practices on their Canadian customers, the government just shrugged and pretended nothing happened at all.
Now, the government’s brilliant plan is to create an infrastructure fund that could force Canadians to pay fees and tolls to bankers around the world – all to use infrastructure that should belong to us, the Canadian people.
Reading the story above, you can see how the culture of corruption among the globalists would make it foolish to think anything good could come of giving massive foreign banks more power, but that’s exactly the path the Trudeau government seems determined to follow.
And you can bet that whenever something goes wrong, the Canadian people will end up getting stuck with the bill, while the banks will take all the profits and end up even better off than before.
I have nothing wrong with strong banks. We need strong banks, and there are certainly some institutions that are well run. But we have seen so much arrogance from the biggest banks in the world, and we have seen the damage they can do when there are not clear punishments in place for corruption and wrong-doing. It is obvious that not nearly enough has changed to think we can trust the big banks with more power over our national infrastructure.
Rules for us, not the globalists
Deutsche Bank may be found guilty, and they may even get labelled an international criminal organization, but that won’t be the end of them. If they get in real trouble they’ll just get bailed out by European taxpayers, and they’ll go on as if nothing really happened. Under the “leaders” of today, it seems rules and consequences are only for the “people,” never for those in charge.
Photo – Deutsche Bank
The elites want to hide their many failures behind political correctness, deception, and manipulation. We need to push back and spread the truth. That’s why I write.
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