Worse Than 2008: Dumping the Deutsche

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FRANKFURT – Germany – The ominous signs are afoot, a black moon, x-factor back on the telly and a never ending Brexit that is full of promises with no action.

 

Markets hate uncertainty, and so do the fund managers who are withdrawing their cash from Deutsche bank faster than a Theresa May false promise.

A run on this major bank would certainly hit things pretty hard. We’re already seeing a slight drying up of liquidity in the markets but if this is another Lehman’s moment it could be squeaky bum time for the money men, and the rest of the populace.

The big boys are running with their money from Deutsche bank, but what about the every day Joe in Germany, the depositors? They could lose every penny in their bank accounts, but the Germans are oh so cool, calm and collected, no one seems to be batting an eyelid over the prospect that their bank balance could be swallowed up into a massive financial black hole worse than any Greek could imagine.

Let us not worry needlessly my German friends, you have a whole weekend and bank holiday Monday to think about if it is too late to take your money out of your account. Of course, by Tuesday, it really could be too late.

So ist das Leben..