Deutsche Bank CEO: “It is an Open Secret That Numerous European Banks Would Not Survive Having To Revalue Sovereign Debt Held on The Banking Book at Market Levels!”

• Most major western banks are insolvent/bankrupt. When these banks go under, the world financial system will come crashing down. This is the Illuminist’s plan! Got physical gold yet? (emphasis mine)
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  Deutsche Bank CEO Just Gave A Terrifying Speech In Frankfurt
  by Courtney Comstock, http://www.businessinsider.com/
  Josef  Ackermann just gave a terrifying speech about the fragility of the Euro banking sector right now. At  a conference in Frankfurt he said, “It is an open secret that numerous European banks would not survive having to revalue sovereign debt held on the banking book at market levels.”
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  “In recent weeks, the distrust of the financial markets has spread to the banks because they are now suffering from the debt crisis in Europe and have a lot of exposure to, for example, Greek bonds.” “Since the financial crisis, some European banks have lost a third or more of their market capitalization,” he said, according to Google Translate.
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  “Most institutions have a rating of “below the book value or at best.” There are three major stress factors crushing Euro banks right now, he says: the debt crisis, structural factors and financial regulation. With them together, it will be hard for the European banks to increase their revenues.
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  The implication is that not just Eurozone countries are buckling under the pressure of Greece’s, France’s, and Italy’s debts, but banks are too. It sounds like a desperate call for a bailout. Now. However he says, “State funds could use means to put stability back into many companies and countries, but that does not remain the only solution.”
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  Still, the situation he describes looks dire. He says, “Many countries and households would have to reduce their debt. The mortgage business and consumer loans were [the few things] driving growth. In addition, there’s the problem of shrinking populations in several European countries, which negatively affects  the growth of credit markets.”
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  “All this reminds one of the autumn of 2008,” said Ackermann. “We should resign ourselves to the fact that the ‘new normality’ is characterized by  volatility and uncertainty.”
  …..
  Sounds like Ackermann just sounded the alarm. There is now a full-on Euro  banking crisis.

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