Deutsche Bank’s recently posted a large billion dollar quarter loss and dropped out of their participation in the gold fixing after Germany’s top regulator Elke Koenig claimed that the precious metals manipulation was worse than the LIBOR fixing scandal.
Potential Default of the China Credit Trust
There is also a potential upcoming default of the China Credit Trust issued by Industrial Commerce Bank of China, the largest bank in the world.
and more on the Fed and Ron Paul
Rebumping this story due to the need to review story in the context of reports that Angela Merkel and Vladimir Putin have discussed the Ukraine/Crimea situation. Report is that Merkel wants "international observers" to be on the ground in Kiev as a mechanism to "de-escalate" tension.
Merkel was born in the former East Germany under Communist rule.
DB also announced previously that they were withdrawing from involvement in the London Fix for gold.
Since the US did not deliver on German gold, is DB and Germany moving towards replacement of the German gold by Russian gold ready for delivery?