Greg Hunter’s Weekly News Wrap-Up for September 30th, 2016
by Greg Hunter
The United States is reportedly suspending diplomacy with Russia, and it also says it’s preparing military options in Syria. The U.S. has asked Russia to stop its bombing campaign in Syria, and Russia will not agree to do so. State Department spokesman John Kirby says, “More Russian lives will be lost, and more Russian aircraft will be shot down.” This is a serious escalation between Washington and the Kremlin, and the only outcome to this is a wider war in Syria that could mean an eventual global war between America and Russia that would, no doubt, involve all allies as well.
Deutsche Bank (DB), that was deemed the “most systemically dangerous bank” by the IMF this year, is in big trouble. Depositors and hedge funds have been pulling money out of the bank, and the stock price is falling like a stone. Deutsche Bank shares fell nearly 6.7% on Thursday, and Wall Street sold off. Now, there are rumors that Germany will have to step, in but that is politically dicey and by no means guaranteed. DB has been compared to Lehman Brothers, which many say started the 2008 financial meltdown. DB is much larger and way more leveraged than Lehman was in the last financial calamity. Many other banks, especially in Europe, are plagued with big solvency problems and liquidity problems. DB could be the first very big domino that starts a chain of defaults.