German Bank, Deutsche Bank, Commerce Bank discussed on Radio Night Live with Kevin McCullough
Direction right now. You know, what an issue big problem? They're having. I mean, obviously oil is impacting them a lot worse than it's impacting us. So they have this oil crisis going on right now. Major problem with the oils are climbing dramatically all the major oil companies and then to top it off banks or tanking. So banks are getting worse. And it looks like there was a there was a deal trying to be made with Commerce Bank in Germany, and that doesn't look like it's going to going to happen. It's facing an awful lot of resistance from Deutsche Bank's supervisory board. Well, look, I I've been saying that this whole merger between those two got sick banks merging thinking that. Somehow if the if the two sick banks get together that they're going to get. Well, I. You know, instead of being more costly and Justice sick if not more sick because they're going to still be debilitated. So where one Bank is sick. The other Bank might not be sick. And now they're going to bring that to both banks. The problem is this is the number one Bank and the number two bang. So these are the two largest banks in the euro zone. So they're going to come together. They're going to have a Bank so large. There's no way on God's green earth. They're ever going to be allowed to fail. Germany or the European Union's going to continue to bail it out if they need to of course, they understand that. No that but worse yet, you could risk situation where deutchebanks then becomes under the guidance and control of the government and becomes a state run Bank. And that would be a huge problem. Now. One of the things that is. Going to be the unintended consequence of all this. But they're not able they're politicians for the most part. They're not able to think through unintended consequence. But one of the things that is likely to happen is there are going to be some of the more independent wealthier euro nations are going to do what Great Britain's should have already done by now, but as trying to do in that is exit out of the euro-zone altogether. Now, it's easier for Great Britain to do it. Then a lot of others because they never bought into the currency. They've always maintained the pound sterling as the currency. So they didn't get rid of it like some of the other nations. But there are some other nations that have an either particularly in the northern more sovereignly stronger nations that are going to say if this were to happen with the Bank and the state were to get involved with the Bank, which will eventually or maybe they're going to be smarter. Enough to say venture -ly this is going to be a state run institution. And when they're in trouble, am I in Switzerland gonna participate in bailing out a German Bank because they didn't see the problems and didn't do anything about them and merged more problems with those problems to make create this mess. And now, this is going to impact our people and our economy, I understand they don't care about their people. They care about the the the globalist mentality is they care about all the people in the euro zone. Except now there are some European nations that are building walls to prevent the open border. So it's going to really open up a can of worms. But yet apparently they're trying to go through with it. And now doors your Bank supervisory board saying they're against the merger with commerce you Bank. And and and as increased this this. You know, this apprehension has increased over the last few days. So we'll see what happens with that. That'll be interesting. There was also a credit union like Bank. There was trying to merge they were trying to merge with that. Didn't that didn't happen. So we'll see we'll watch that. And we'll see what happens with it. But it is a little bit scary. Eight four four seven or seven fifty five thirty three eight four four seven zero seven fifty five thirty three let me just look here. I don't think we've gotten any of the housing the new home sales. We did not get they did not come out yet. Let me just look here today is Tuesday yet, ten o'clock new home sales. So we haven't seen that come out. Be interesting. Maybe we'll be able to tell by which way, the market is going because if it's bad we'll probably know it.