Deutsche Bank Plunges On Latest Debt Trading Revenue Warning

First it was Jefferies. Then Citi. Now it’s Deutsche Bank‘s turn:

JAIN EXPECTS 3Q DEBT TRADING REV. TO DECLINE `SIGNIFICANTLY’
JAIN SAYS CB&S AFFECTED BY MARKET ENVIRONMENT
JAIN SAYS 3Q TRADING RESULTS DIDN’T BENEFIT FROM CATALYST
JAIN EXPECTS TO TAKE ADDITIONAL LITIGATION RESERVES

Stock promptly plunges because nobody could have possible foreseen this…
Stocks have been totaly divorced from reality(earnings) for years, as QE marches on(money printing).

It Begins: Bundesbank To Commence Repatriating Gold From New York Fed

Well this doesn’t sound good.

From Handelsblatt:

After the establishment of large parts of the German Bundesbank’s gold reserves for safety were deposited with the Allies. Now, the gold from New York and Paris to be retrieved.

Frankfurt, the Bundesbank has developed a new concept, where she wants to continue storing their gold reserves. According to information of the Handelsblatt sees this approach which will be announced next Wednesday before, to revalue the domestic locations, in New York for less to store gold and even to hoard any more gold in Paris.

Thus, the central bank reacts to a report of the Federal Court to examine the financial statements of the Bundesbank and had advised her to create a current bearings concept and documented.

Don’t trust Obama??

ECB Plan Said To Pledge Unlimited, Sterilized Bond-Buying

European Central Bank President Mario Dragahi’s bond-buying proposal involves unlimited purchases of government debt that will be sterilized to assuage concerns about printing money, two central bank officials briefed on the plan said.

Under the blueprint, which may be called “Monetary Outright Transactions,” the ECB would refrain from setting a public cap on yields, according to the people, and a third official, who spoke on condition of anonymity. The plan will only focus on government bonds rather than a broader range of assets and will target short-dated maturities of up to about three years, two of the people said.

The euro jumped half a cent on the report to $1.2596 and European stocks advanced. An ECB spokesman referred to an Aug. 20 statement in which the Frankfurt-based central bank said it was misleading to report on decisions that haven’t been taken yet.

Draghi told the European Parliament this week that the ECB needs to intervene in bond markets to wrest back control of, interest rates in the fragmented euro-area economy and ensure the survival of the common currency. Policy makers will start deliberating on the plan later today and Draghi will announce whether it has been agreed to at a press conference tomorrow.

Bundesbank Opposition

The officials said policy makers are likely to adopt the proposal, with Germany’s  Bundesbank remaining the sole objector. At the same time, one said Draghi’s relationship with Bundesbank President Jens Weidmann remains relaxed, and the two men only disagree on whether risks inherent in the bond plan are likely to materialize.

To sterilize the bond purchases, the ECB will remove from the system elsewhere the same amount of money it spends, ensuring the program has a neutral impact on the  money supply …

Inflation is coming, the ECB is playing with fire ….