Germany Planning For Commerzbank Nationalization

That Commerzbank, effectively Germany most insolvent lender (after the bank that shall not be named because if it falls, so goes Europe) and the first international bank scrambling to demand Discount Window cash from the Fed not in 2008 but all the way back in 2007, is broke is no secret. The only question was when will the bank which is a pseudo-TBTF, be nationalized. According to Der Spiegel the time is rapidly approaching. Specifically, "Germany's government is preparing plans for a potential nationalization of Commerzbank AG, in case the Frankfurt-based lender isn't able to raise additionally needed capital, German magazine Der Spiegel reports Sunday, citing government sources. Germany will reactivate its bank bailout fund, SoFFin, to acquire additional shares in Commerzbank if the bank hasn't raised necessary capital by next summer, according to the report. Germany already took around a 25% stake in Commerzbank to keep it afloat during the financial crisis following its acquisition of Dresdner Bank. According to the report, it is assumed that the majority of new shares would fall to the government in the event of a capital increase for Commerzbank. Germany has ruled out taking over Commerzbank's Eurohypo public finance unit, which it is required to sell to fulfill a European Union restructuring mandate tied to its use of state aid, according to the report." And so the world's most undercapitalized banks as so often demonstrated by Zero Hedge continue dropping like domino. Below we recreate the most recent list of Tier 1 casualties (seen most recently when exposing Credit Agricole as one of Europe's most dire casualties of a USD funding shortage), or banks that have the lowest capitalization, and thus highest leverage ratios in the world. If we were betting people, we would say that Deutsche Bank (and Postbank), Credit Suisses and BNP may well be next...

 

 

Can't afford to have The Sheeplez see these videos...

Swiss America's pro-gold commercials rejected by major TV networks

Submitted by cpowell on Sun, 2011-12-04 16:03. Section: Daily Dispatches 11a ET Sunday, December 4, 2011
Dear Friend of GATA and Gold:
Longtime GATA supporter Swiss America Trading Corp. reports that two television commercials it produced to advocate purchase of precious metals as a defense against the political "inflatocracy" that controls the U.S. government have been rejected by all major TV networks. But the commercials are pretty funny and refer to the likely disappearance of the U.S. gold reserve, and at least you can watch them at Swiss America's Internet site here:
http://www.swissamerica.com/article.php?art=11-2011/201111300240f.txt


Part 1




Part 2




Debt Slavery – Why It Destroyed Rome, Why It Will Destroy Us Unless It’s Stopped
Every economy is planned. This traditionally has been the function of government. Relinquishing this role under the slogan of “free markets” leaves it in the hands of banks. 

Chris Martenson Discusses The Future Of Europe And Of The Global Economy

In the following video Chris Martenson - economic analyst at chrismartenson.com and regular guest contributor to Zero Hedge, and James Turk, Director of the GoldMoney Foundation talk about the problems facing the eurozone as well as the global economy. Chris Martenson points out that the whole world simply has too much debt. This is why he believes that there won’t be a real solution to the euro crisis. The big question will rather be who will take losses on the debt, which can’t possibly be repaid. The lack of political leadership and unwillingness to accept reality is contributing to this crisis. Additionally, the monetary tools central banks have traditionally used to revive economies are starting to show less and less effect. In Martenson’s view, the financial sector has become way too large and interlinked across borders, so that a default by one country could bring down the whole financial systems, because credit default swaps would get triggered and could bring down the writers of those derivatives.

Egan-Jones Exposes Wall Street's "Big Investment Fraud"... In 2006

Lately, the Egan-Jones credit ratings agency has experienced a lot of bad publicity from the co-opted and conflicted media, especially those in which GE has a minority stake, for no other reason than being the only organization that is in some way a part of the status quo yet dares to constantly lash out at the lies behind the scenes and expose the fraud and corruption that permeates the modern Ponzi system. Frankly, we have had it with this propaganda. Confirming that when it comes to honesty and integrity, EJ may or may not be at the front of the pack, but they sure tried to warn other about the impending systemic collapse. Presented below is an interview conducted by Kate Welling with Sean Egan back on June 30, 2006, or the absolute peak of the credit bubble frenzy, in which everything Egan said: down to the most dire prediction, has occurred. Somehow we are confident people slighted, mocked and ridiculed him then as well. He was right then. He will be right again.

Iran Military Shoots Down US Drone, Threatens Response

Here we go:

IRAN MILITARY DOWNS U.S. DRONE IN EASTERN PROVINCE -TV
IRAN SAYS ITS RESPONSE TO U.S. DRONE VIOLATION OF ITS AIRSPACE WILL BE CARRIED OUT OUTSIDE IRAN'S BORDERS- FARS AGENCY

Many People Think Gold Is In A Bubble. That IS Not My Impression.

Admin at Marc Faber Blog - 8 hours ago

Many people think that gold is in a bubble. That is not my impression. Last week I was in Taiwan and later I was in South Korea. I gave a two conference presentations, and I asked the audience, "How many of you own gold?" In Taiwan I think there was one participant that owned some gold and in Korea in a room with maybe one thousand people, not a single person owned gold. *ETfs, SPDR Gold Trust ETF (GLD) * *Stocks, Newmont Mining (NEM), Barrick Gold (ABX), Goldcorp (GG)* *Marc Faber is an international investor known for his uncanny predictions of the stock market and futures marke... more » 

 

Precious Metals, Agriculture, Will Do Better Than Copper

Admin at Jim Rogers Blog - 8 hours ago

I own some copper, but I expect to make more, percentagewise, in agriculture and precious metals. - *in CNBC`s Investor Clinic* *Tickers, IShares Silver ETF (SLV), SPDR Gold ETF (GLD)* *Jim Rogers is an author, financial commentator and successful international investor. He has been frequently featured in Time, The New York Times, Barron’s, Forbes, Fortune, The Wall Street Journal, The Financial Times and is a regular guest on Bloomberg and CNBC.* 

 


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Trader Dan on King World News Weekly Metals Wrap

Trader Dan at Trader Dan's Market Views - 11 hours ago

Please click on the following link to listen in to my regular weekly radio interview with Eric King on the KWN Weekly Metals Wrap. *http://tinyurl.com/br5g876*

A Brief History Of The Ups And Downs In US-Iran Relations

Iran and the United States broke diplomatic ties following the 1979 Islamic revolution and the storming of the U.S. embassy in Tehran 32 years ago. Here are details of ups and downs in their relations since the 1950's. 

InTrade Odds For US/Israel Airstrike In Iran Before June 2012: 24.3% As Of Yesterday

Perhaps it is time to point out the "trade of the day", which for some reason has seen no action yet since the Iran news has broken. Presenting the InTrade "USA and/or Israel to execute an overt Air Strike against Iran before midnight ET 30 Jun 2012" contract, which at last trade yesterday (no trades today yet), was seen trading at $24.3, or at about 24.3% implied probability. Following today's news, we would venture to guess that the upside/downside here is attractive to quite attractive.

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