Investigating Deutsche Bank In Wake Of Admission It Rigged Gold And Silver
Deutsche Bank Admits Rigging, Will Expose Other Riggers
Deutsche Bank has certified it fraudulent both a Gold marketplace and a Silver market. ZeroHedge has a sum in his news Deutsche Bank Agrees To Expose Other Manipulators.
Many asked me to comment. we am shocked?
No. In a arise of admissions of fraudulent LIBOR and fraudulent Euribor (bank to bank seductiveness rates in dollars and euros respectively), one would unequivocally have to consternation “What isn’t rigged?”
To a Moon, Alice?
While some consider bullion would have “gone to a moon” but this rigging, we consternation if it got as high as $1900 an unit since of rigging.
The same relates to china when it surfaced over $40.
It’s judicious to trust riggers don’t most caring about a instruction as prolonged as they make money. Hopefully we get some-more sum from Deutsche Bank soon.
This could get interesting.
What Isn’t Rigged?
While introspective a above question, let’s dive into Deutsche Bank’s 2015 Annual Report to examine other bid-rigging opportunities.
Consolidated Balance Sheet
Deutsche Bank has over €515 billion in “positive derivative values” in comparison to €496 billion in “negative derivative values”.
Hooray! Deutsche Bank is about €20 billion to a good. But how most was bet?
Deutsche Bank’s Derivatives Casino
The sum distance of Deutsche Bank’s derivatives casino is €21.39 trillion, notional.
- Interest Rate: €15.41 trillion
- Currency Related: €4.78 trillion
- Equity Index: €0.90 trillion
- Credit Related: €0.27 trillion
- Commodity Related: €0.08 trillion
How Much Risk on €21.39 Trillion?
Inquiring minds might be asking: How most risk is there on €21.39 trillion?
Perhaps startling little. After all, seductiveness rate risk could simply be tranquil with a few timely phone calls from a Fed and ECB.
What risk isn’t tranquil that approach can always be tranquil other ways (as we have seen).
I am gratified to note Deutsche Bank uses “central counterparty clearing services for OTC clearing” and a bank “benefits from a credit risk slackening achieved by a executive counterparty’s allotment system.”
“Margin mandate for uncleared OTC derivative exchange are approaching to be phased in from Sep 2016.”
And we can all count on a apparent fact that Dodd-Frank remodel has bound everything.
So, zero can presumably go wrong with €21.39 trillion in casino bets, only as €20 billion in increase (.0935%) shows.
Courtesy: Mike “Mish” Shedlock
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Credit Risk Mitigation , Derivatives Casino , Deutsche Bank , Equity Index , Gold Market , Interest Rate Risk , OTC Derivative Transactions , Rigged , Rigged Euribor , Rigged LIBOR , Rigging , Silver Market