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Brio

Deutsche Bank ATMs Block Cash Withdrawal Due To "Technical Glitch"

266 posts in this topic

In what appears to be a widespread problem, Germany's Spiegel reports that customers are unable to withdraw cash from Deutsche Bank ATMs due to a "technical glitch."

link

Shutting down terminals for the weekend.

link

Huh.

 

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oh crap.  I long ago identified what I believed to be the three main risks for the beginning of a total, global, financial meltdown and Deutsche Bank crumbling under the weight of its derivative portfolio was number 1.

Number 2 was the Italian banking  system and number 3 was a Greek default in July.

I didn't, and still do not expect to make it to July.

I'll be digging around trying  to suss out this little bit of news for sure.  Thanks for the heads up.

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I don't mean to be alarmist, but I'm damn sure alarmed.  People watch this and watch it closely.  Whether this is "it" or not, this IS how  it will begin.  Watch very closely because if you see notices of financial stresses/defaults next week in South America, Japan and finally Mexico (MSM will NOT connect the dots for us), the US will be next.

IF my research proves predictive AND this is actually a sign the "trigger" has tripped here is what I'm expecting to see:

1.  A notable spike in US dollar value, accompanied by an absolute hammering of precious metal prices.  The proximate cause of this temporary move  will be massive amounts of terrified wealth beginning  to move across the globe in a futile search for "safety".  This should be massively apparent to anyone alert and watching within two weeks of the inaugural event.

2.  Increasing panic in South, Central America and Mexico, with simultaneous dislocations in Japan (again, two weeks should manifest plenty of evidence for any alert observer).

3.  However long it  takes, watch Mexico.  Once Mexico defaults on a major bond payment (and don't forget to monitor PEMEX, a PEMEX default IS a default of the Mexican government) we likely have less than two weeks left to react in the US.

4.  The end game is the same as it has always  been.  Before any significant numbers of people wake up to the reality  of what is happening, the teller machines will cease to work, debit and credit cards will be refused, and a banking holiday will be declared.  Your money  will be locked behind walls where  you cannot access it, both electronic walls and physical walls.  You will not be allowed access to your money (its not yours if you willingly  deposited it in a bank, but that's another story) until it has been devalued to a fraction of its current assumed value, or become altogether worthless.

What can you do?

1.  Quietly withdraw as much cash as you can manage and safeguard it at home.  It is very likely that you will be able to spend cash for  several weeks after the banks close, and before it loses significant value.

2.  Watch gold and silver prices.  After those plunge on the heels of a spasm of US dollar strength, go to your  local coin shop and convert as much excess cash as you can into gold and silver.  You  may  or may not find willing sellers.  Coin and precious metals dealers are a pretty savvy lot and may well close their doors too when the banks announce their "holiday".  At the time of this writing gold and silver spot prices are as follows:

Silver:  $16.36 per troy ounce (+2.51% on the day)

Gold:  $1241.80 per troy ounce (+2.59% on the day)

I may not be correct about the predicted, temporary plunge in precious metal prices...nothing is guaranteed.  Watch.  ANYTHING under $100 per troy oz for silver and $2000 per troy oz for gold is a STEAL compared to worthless dollars.

For those of small means, consider a purchase of "junk" silver.  It's well known, easily identifiable and exists in units that represent fractions of an oz.  Junk silver is simply the trade name for US Minted coins that contain real silver.  Dimes, quarters, half-dollars and dollar coins minted prior to 1965.  A few hundred dollars worth of silver dimes may well be a true lifesaver when this unravels.  Familiarize yourself with the formulas for converting "face value" of junk coins into troy ounces:

How to calculate the value of junk silver

This link will assist you  in tracking changes in precious  metal spot prices:

Kitco

3.  Tidy up your disaster preparedness kits.  You DO NOT want to be going to the grocery store AFTER the majority of people have finally discovered what is really happening.  Those will be violent, chaotic places and you will much prefer being safe at home for a few days or weeks.  What makes sense, is exactly the same things you would do to prepare for any natural disaster.  Make sure you have enough basics in food, water, medicines and toiletries to survive at least a few weeks without making a single trip to a grocery store.  Prudent men who love their families will already have done this.  Just make a check and fill in gaps.  If you have daughters or wives that are pre-menopausal don't forget feminine sanitary supplies.  Imagine what handling that time of month will be like for women who didn't have someone who loved them enough to prepare.

 

4.  Start thinking about how you  will spend your cash you so intelligently retrieved from the banks.  VERY wealthy  people who remain unprepared will likely be willing to sell VERY valuable items at unimaginable discounts just to have enough cash to get a few groceries.  Want a relatively new SUV for $500.00?  This season may be your chance.  I'd go for the old, restored 1965 Chevrolet pickup truck with a 350 engine and no electronics, but hey...whatever flips yer skirt :).

5.  Make time to wave at your neighbors.  Trust will be nearly impossible to develop after the panic and paranoia hit, so start now.  You're going to need your  neighbors and they will need you.  Get to know them.

6.  If you've been putting off buying that Big Berkey water filter...GET IT DONE NOW.  Same for firearms.  You  still have time to get a delivery from Amazon, but that is not guaranteed to last.  You need a MINIMUM gallon of clean water per day per person IF it's cool.  Anyone who is forced to exert themselves in hot weather may need twice that much.  2 gallons per person per day is a decent planning figure on average for personal hydration and cooking needs.  Obviously, much more than 2 gallons per person is needed to handle personal hygiene and laundry needs.  It's unlikely that civil water systems will fail immediately unless you happen to be unlucky enough to have a natural disaster in your  area simultaneous to this economic upset.  Be smart...be safe.

This is a bit off the cuff...I'll post more as I think of it.

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Superb post Jostler! :cheers:

I don't think FM Schauble would allow DB to fail but he may not be able to prevent it.

 

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Just now, Brio said:

Superb post Jostler! :cheers:

I don't think FM Schauble would allow DB to fail but he may not be able to prevent it.

 

That is the key.  We are in an era where even the ability of governments to forestall this is limited, and perhaps gone.

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Posted (edited)

Closing Friday, 3 Jun - Deutsche Bank (NYSE):  17.06 Down 0.48(2.74%)

                                    Deutsche Bank  (XETRA):  15.00 Down 0.60(3.82%)

                                    Gold spot:  1243.50 1244.50  +33.10  +2.73%

                                    Silver spot:  16.39 16.49  +0.43  +2.69%

                                    PEMEX - News

                                    FTSE Itialia Banche - Italian Bank Index:  9,313.49 -0.51 06/06/16 - -47.66346

 Real Time

 

 

Just getting a few links together for next week so I don't have to dig them up every time

Edited by Jostler

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Posted (edited)

Noon, Monday, 6 Jun - Deutsche Bank (NYSE):  17.14 0. 08 (0.44%)

                                    Deutsche Bank  (XETRA):  15.05  0.05  (0.33%)

                                    Gold spot:   1245.30  1246.30 +1.80 +0.14%

                                    Silver spot:  16.41  16.51  +0.01  +0.09%

                                    PEMEX - News

                                    FTSE Itialia Banche - Italian Bank Index:  9,313.49 -0.51 06/06/16 - -47.66346  Real Time

                                    USDX:  94.04 Up 0.01(0.01%) 12:09PM EDT

                                    USD/JPY:  107.3500 Up 0.9050(0.85%) 12:20PM EDT
                                   

                                     EUR/USD:  1.1352 Down 0.0012(0.1100%) 12:23PM EDT

Can't find a blasted thing about whether the atms are back in operation or not.  My google skills must be showing :)

Deutsche Bank Customers Debited Twice In As Many Days

Overall, the Monday open appears to be pretty normal, no signs I can detect of major problems

 

The following is a decent synopsis of the reasons DB is viewed as a candidate for triggering this mess:

 

·  Bill Holter has done some outstanding work re how Deutsche Bank seems to have been “kicked out of the club” of large banks— and the stress is showing. 
· In 2007-2008, Lehman was kicked out —their credit was cut off— in what was a predetermined event/operation. 
· Deutsche Bank’s exposure, however, is exponentially bigger than Lehman’s ever was. DB’s derivatives book is estimated between $50-$75 trillion. Stunning.
· We know DB met with Citi, JPM, and Goldman in April 2016 regarding over $1 trillion in derivatives issues. 
· April was also the time Fed Chair Yellin held three “expedited meetings” including one with the President and VP.
· Simultaneously, the Bank of Japan issued warnings about the stability of the system. Japan repeated the warning at the recent G-7 meeting.
· Since then, DB has offered 5% interest for deposits of 90 days. How can anyone offer 5% interest in a zero to negative interest rate environment?

from:  http://www.stevequayle.com/index.php?s=33&d=1777

 

Edited by Jostler

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Nothing into the close that would even justify the trouble of putting a tracking post with links together.  A resounding "nothing to see here" day if there ever was one. 

S&P 500 closed a half percent from its all time historical high - which is a reminder that crashes begin from tops, not bottoms :)   This isn't exactly news either from a recent historical perspective.  the S&P has been flirting with this level consistently, breaking the 2100 level around 30 times in the last year. 

See what develops overnight  or tomorrow

o/

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36 minutes ago, Jostler said:

Nothing into the close that would even justify the trouble of putting a tracking post with links together.  A resounding "nothing to see here" day if there ever was one. 

S&P 500 closed a half percent from its all time historical high - which is a reminder that crashes begin from tops, not bottoms :)   This isn't exactly news either from a recent historical perspective.  the S&P has been flirting with this level consistently, breaking the 2100 level around 30 times in the last year. 

See what develops overnight  or tomorrow

o/

Very impressive eco-analysis, Jostler. YourMom2 and Cryptic Mole also pay attention to world banking and markets and the coming collapse. I will mos' def keep a weather eye out for your posts. July, huh? :damned:

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Posted (edited)

I know it's a bit of an inconvenience, but back before ATM's, we old timers actually went to the bank to take our money out. I'm sure even with all the ATM problems, you could go to your bank as well to do the same.

Here comes some sarcasm:

For those of you who have only been to your bank one time to open your account, the process is very simple. Walk into your bank. Go to the counter where they actually have real hard copies on real paper as forms to fill out. No need to use your smartphone. Select the withdrawal slip. Just fill in the amount you would like to withdraw, the account number, and sign it. Next, go to the bank teller behind those 1 1/2" thick glass windows. Smile and give the proper am or pm greeting. She/he will most likely ask, "how would you like that, large or small?" Wham, instant cash, and without the need for an ATM machine. Who says the old-fashioned way sucks?

edit to add: and I almost forgot, you'll also have to show your photo ID at the window, even if they already know you and have asked you 100 times already.

Edited by Cryptic Mole

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