Stellar (XLM) Burn Sends Crypto Shockwaves, Triggers Initial 26% Burst: eToro Market Update
“Remember remember the 5th of November.” So goes the old poem praising a foiled plot to blow up the King of England along with all of Parliament in the year 1605. The image of this rebel and his story has since become a symbol of freedom from oppression. Happy Guy Fawkes Day.
“Ring the bells that still can ring, forget your perfect offering. There is a crack in everything. That’s how the light gets in.” These powerful lyrics from Leonard Cohen were recently featured in an ECB speech from Lagarde to her predecessor Mario Draghi. Perhaps meant as a sign of hope, it was also a candid admission that we are indeed in dark times.
Though I’m a bit fed up with prophecies from 4Chan, especially after the last big one didn’t pan out, a new one has emerged on my feed today that chills me to the bone. The idea that Germany’s biggest bank might go under is something we’ve looked at seriously in the past as a possible catalyst for the next financial crisis. Though the source is not very credible, Deutsche Bank has been in the news a lot this past week.
First with the news that they’ll be passing on negative interest rates to their top customers. Then a day later with the announcement that they’ll be cutting another 6,000 jobs. Now there are credible reports that regulators are urging the bank to undertake a massive managerial restructuring operation.