The IMF called Deutsche Bank (DB) the “most systemically dangerous bank” in the world in 2016. It recently hit all-time lows and now sits around $7.50 per share. If DB does break $6.40, do we get a daisy chain of default around the world? Renowned geopolitical and financial cycle expert Charles Nenner says, “It is a very dangerous situation. I think DB is not the only one. They just got caught. I think if you look at the balance sheets very closely of other banks, especially Europe and Italian banks, you will see a lot of troubling signs also. I don’t think it’s only Deutsche Bank. It’s much more. . . . If it breaks $6.40, the downside price target is zero. If everybody watches my analysis and it does go below $6.40, everybody is going to run for the exits.”
On gold, Nenner says, “We are looking for a long term bull market for a couple of years to come, maybe until 2024. The price is going much higher.”
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