Grubstakers - Episode 185: Deustche Bank {part 2}

Episode Date: August 13, 2020

This week we return to our multi part profile of the infamous Deustche Bank. This episode looks at the 50 years after world war 2 and the beginning of this century. We continue to discuss the Nazi gold they stole from the teeth of people to fund the will of the Nazi’s, to the multiple connections to the CIA over the years and lastly the acquisition of Bankers Trust that would add to the hooligans of corruption empowered by the bank that funded the construction of Auschwitz. Also, at one point you can hear Andy’s cat.

It's the kind of thing that makes the average citizen puke. I look at this system and say, yeah, you know, what's going on? I don't know anything about this man except I've read bad stuff about him. And I don't like, you know, I don't like what I read about him. We are more than just one coin. We create the world around this coin. Cop. Invention. Cop. Cop. In 5, 4, 3, two, the evil has gone.

Hello and welcome to our part two on the infamous Deutsche Bank. My name is Yogi Poliwal and I'm joined by the finest German-loving co-hosts. Sean P. McCarthy. Andy Palmer. Steve Jeffers. And today we will continue to look at Deutsche Bank after their role in World War II, robbing the gold from the teeth of the victims of the Holocaust, to their connections to the CIA,

and many more scandals that came along the way. We are continuing our part two on Deutsche Bank. With our last episode on Patreon, we interviewed David Enrich, who had written the book Dark Towers, the book on Deutsche Bank and Donald Trump and the corruption that follows. That will come out on the free side in a week from now, so look forward to that. And we will be continuing our bio of Deutsche Bank and their 150 years that they have been

plaguing our world with just a whole bunch of dumb, dumb shit. Continuing with the Depression and the nazi era that's right continuing with our nazi stories ladies and gentlemen during world war ii the government financed its budget deficit by printing new money a misguided practice that quickly led to spiraling inflation the problem was artificially suppressed oh oh steven steven has something to say go on steven uh well they were you know uh suffered defeat in a world war so they had no productive capacity so that was kind of the cause of the inflation right of course the money printing came afterwards i just saw a big like um exclamation mark appear above

steven's head as soon as you said that printing money caused inflation. Just after Steven and I have talked for hours about monetary theory, I was like, oh no, that's... Andy and I had a 13-hour discussion about this right before him. Yeah, yeah.

Steven looked like a guard in Metal Gear Solid who just discovered Snake. Why is there a box right here? Printing money does not cause inflation by itself. I don't know. Well, in a nutshell, they lost the World War and they literally got bombed. So that caused bottlenecks and that caused inflation. And then the money printing happened

to meet the demand of the higher prices. And also they were stabbed in the back. A little switcheroo there. Here we go again. They won't tell you this history in Wikipedia. I want to hear it now, Stephen. Tell me every detail about this. How come we didn't record this 13-hour discussion?

It wasn't yesterday, but I think collectively we have. Let's first hear Sean elaborate on this little theory of his about how the Germans were stabbed in the back and lost World War I. All right. I'm going to tell the grubstickers who really started World War II and why. Moving along, in 1945, the bank would be run out of Hamburg and it would lose all of its branches in what would eventually become East Germany. In 1949, they became- Much like the Beatles. That's right. In 1949, they became the basis for the newly formed Berliner Deskantobank.

In 47 to 48, the Western operations of Deutsche Bank were divided into 10 separate regional institutions. After negotiations with the occupying forces, these 10 institutions were formed into three bank. with the occupying forces, these 10 institutions were formed into three banks. Nordische Bank AG, Rheinscheid, Westfälische Bank AG, and Süddeutsche Bank AG. Just fucking nailing this pronunciation today, guys.

They served the northern, central, and southern areas of West Germany, respectively. And in 1957, these banks were again reorganized, this time to form a single Deutsche Bank AG with corporate headquarters in Frankfurt. They were three banks, but before that, they were broken up into 10 different banks. Bayerische Kreditbank, Deskonto Bank in Bremen, Hessische Bank in Frankfurt, Sudwest Bank in Stuttgart-Mannheim, Norddeutsche Bank in Hamburg, Nordvestbank in Hanover, Rheinische Westfälische Bank in Dusseldorf, Oberrheinische Bank in Freiburg, Rheinische Creditbank in Ludwigshafen, and Vertenbergische Vereinsbank in Reutlingen.

And so I missed it. You mentioned that this breakup happened, of course, immediately following the war because of Deutsche Bank's crimes in the war. And so it was a pretty good gut instinct to break up Deutsche Bank, something happened after the war that maybe made people change their opinions on what to do with banks, which was the increasing strength of the Soviet Union. So then going against their principles of both breaking up these power sources in Germany, and also, as we've mentioned time and time again,

the process of denazification. They then decided that in order to best beat the Soviet Union in a way that might be, say, beneficial to propaganda, would be to really strengthen Germany's market economy. And so they did an about-face, and they then brought those 10 banks together into the three that Yogi mentioned, Norddeutsche Bank in Hamburg,

Süddeutsche Bank in Munich, and Rheinische Westfälische Bank in Dusseldorf. And then in 1950- Andy, you're fucking up the pronunciation. Yeah, come on, dog. Everybody knows the pronunciation of it is Norddeutsche Bank AG, Rheinische Westfälische Bank AG, and Schiedische Bank AG. That's the way to do it, guy.

Try to say it again the way Yogi said it, okay? He did a lot of preparation for this episode. And so in 1955, West Germany actually ended up receiving greater sovereignty. And with that sovereignty, the new German government decided to just cut regulations on bank consolidation. And so then in 1956, Rheinische Westfälische Bank changed its name back to Deutsche Bank AG West. At the end of April 1957, after a meeting of the three successor institutions passed the relevant resolutions, on May 2nd, 1957, which was retrospectively set to January 1st, 1957, officially, the new Deutsche Bank in Frankfurt was founded. So they broke it up because of the Nazis, and then they brought it back together because they decided that the institutions that brought the Nazis into power would be useful against the Soviet Union. Big surprise.

Yeah, I like that the punishment for building and funding Auschwitz was you have to be a separate bank for 12 entire years. Yeah. They also, they kept like, you know, all of the... That was what that movie 12 Years a Slave was about. That's why I had Brad Pitt. Yeah. This is just a warning to anyone who is considering joining an emergent fascist regime. It may seem convenient now, but it might set back your career about a decade.

I'm just imagining like modern US prosecutors who do all these deferred prosecution agreements with Wall Street banks, just them looking at Deutsche Bank being broken up for 12 years for building and funding Auschwitz and going, Man, they were really draconian with the banks back in those days, weren't they? Just, oh man, this is brutal. This is practically the Code of Hammurabi. It should also be noted that in addition to the bank getting broken up and then reinstated within 12 years, apparently the chairman of the bank during Nazi rule, Hermann Abs, was reinstated. That's right. He was reinstalled. Yeah.

Which, you know, great name for a Nazii i will say right in the bio that i that i'm that i'm quoting from here it talks about how at this time the bank would employ 16 000 people and would have assets totaling 8.4 billion marks and the man sean just mentioned former nazi well i mean i don't think he was a former nazi but herman j abs would be the strategist behind the reorganization behind the bank and be one of the key figures in West Germany's financial recovery, according to this thing. He was the Lincoln Project of Nazis. First he was bad, but then they brought him back, and now he's good.

Mr. Hitler, you are canceled. Well, there has always been a close association between abs and burning. So in the early 60s, the bank would start focusing on making its smaller depositors better. So it would launch these programs for loans up to $2,000, $6,000, and have an overdraft facility of up to $1,000 for consumers. But then, under the direction of Herman J. Ebs, he would begin to reestablish its international operations that it had lost. And I just want you guys to know, the first offices he opened

were in Buenos Aires, Sao Paulo, and Rosario, Argentina. Now, why do you guys think he decided to open those banks in that area? Huh? What about those areas

scream, hey, after the war, Nazis, this area. I don't know. I don't know what you guys think. They wanted the warmer climate. Cloning projects need startup capital too.

Excuse me, Dr. Mengele, you owe me several hundred Reichsmarks for that account that I left open. Yes, we were opening banks in Argentina. No one said this was wrong, so we did it. I don't see the problem.

I guess the Vatican Bank just wasn't convenient enough for the people in Brazil. They would also open branches in Tokyo, Istanbul, Cairo, Beirut, and Tehran. In 1968, Deutsche Bank would join the Netherlands' Amsterdam-Rotherdam Bank, Britain's Midland Bank, and Belgium's Société Générale des Banques in founding the European American Bank and Trust Company in New York. So, and now we're moving to the early 1970s, where Deutsche Bank would found Eurus Bank, the European Asian bank with members of the same consortium of the group I just

mentioned. And Sean, I feel you had some things to say about banking in the 70s. Well, what I might say about Deutsche Bank, for our listeners, if you've heard our interview with New York Times reporter David Enrich, that's on the Patreon. It'll be released for free in the next week. But you've heard the interview with the New York Times reporter. It's time for the real truth. The real truth about what happened with that judge who was shot to death by a FedEx delivery driver who had just been assigned to the Deutsche Bank case. And I would just say, like, look, I've been spending a lot of time in quarantine. Really, my mind has just left my skull at this point.

I've read several books on the Kennedy assassination and watched constant YouTube panel discussions. Basically, what I'm saying is, if you really want to just kind of fuck up your mind a little bit, you can think about Tom O'Neill, of course, just released recently this book, Chaos, which is about Charles Manson and the MKUltra and the CIA and all this stuff. And one of the premises that he offers is something that kind of disturbs me a lot, which is the idea that the CIA lied to Congress in the 70s when they said that the MKUltra program was a total failure. Like, the CIA told Congress during the church committee and all these other investigations that we just wasted time, we just dosed people with LSD, mind control didn't work, you know, none of it happened. None of it had any result. An isolated incident where the cia lied to congress but it's like you look at some of these weird fucking incidents like tom o'neill goes

through one i think it was like a marine or a navy guy who um had no history of violence and like committed some horrific murder of a child that he had no memory of uh not too long after being experimented on as part of this mk ultra program um and then you just like look at these incidents like uh the robert f kennedy assassination like if you want to go crazy you just read about the girl in the polka dot dress and the rfk shooting who's multiple witnesses there's like four or five different witnesses all independently say they saw a girl in a polka dot dress talking to sirhan sirhan rfk's assassin talking to him before the assassination along with one other man uh talking to him before the assassination and then multiple witnesses also say that that girl in the polka dot dress was fleeing with a

different man and that they shouted you know we shot him we shot the senator as they were fleeing and it's just like bizarre because the idea is this polka dot this idea that drove me insane online is that this polka dot

dress is like the polka dots are like targets so like you know sirhan sirhan if you buy that he's mk ultra program he sees the fucking dress like a target shoot you know and then he goes and kills senator kennedy and has like no memory of why he would do that or actually doing it has no memory of the actual events i thought he would be activated by somebody saying his full name right he's sir han and he stops and he's like sir han sir han and he's like really listening and they go sir han sir han sir han and then he's ready to it takes a couple yeah to do the deed, Sean, you're saying that the polka dots were supposed to remind him of targets and activate him.

Yes. And then he shot the senator. Was it something where they were trying to program Sirhan Sirhan, and he always shot one meter to the right of the target he was supposed to hit so then they had to position both the polka dot lady and just the right position relative to him and bobby kennedy to activate his uh his programming yeah i guess so i mean you look i don't quite know where the polka dots come in but it seems like and so and apparently like sir and sir hand is recently you know because he's trying to get parole so you can say he's making this all up, but he says that apparently he remembers he was flirting with the girl in the polka dot dress and he thought they were going to hook up. Sure. this is the dangers of casual sex. You never know when you're going to assassinate a presidential candidate

on behalf of the CIA because your Tinder hookup is an agent. Sean just looks in the mirror and just says, Sirhan, Sirhan, as he slowly falls asleep. Oh, and apparently they identified the girl in the polka dot dress.

She died like a decade ago, but her ex-husband said every year on the date of RFK's assassination she would put on the polka dot dress. She died like a decade ago, but her ex-husband said every year on the date of RFK's assassination she would put on the polka dot dress. What? What? Really? Yeah. What the fuck? She could have been mind-controlled too. Into that role. Oh, interesting.

I see what you're saying. And look... Did they ask him how the sex was that night? He's still around. Someone should. I remember I finished early and a bunch of people were screaming and then others tackled me. Oh, yeah. So and then the other one is Nicholas Deak or Nicholas L. Deak. He was nicknamed the James Bond of money. He was he founded the Deke Pereira Bank.

The CIA helped him found it after World War Two. And it was a front company to move money for the CIA. It also operated as a legitimate bank, but it was primarily he was in the OSS during World War Two. Then after World War Two, the CIA put him in business, set him up with a bank. a legitimate bank but it was primarily he was in the oss during world war ii then after world war ii the cia put him in business set him up with a bank but by the 1980s he'd kind of gotten involved with i believe colombian cartels and uh some other unsavory elements he was forced to declare bankruptcy in like 84 or so and he was also under indictment at the time. And then in 1985, some random homeless bag woman shows up in his lobby and shoots him to death. And not only that, her name was Lois Lang.

She's still in prison. She got on a bus and drove 4,500 miles to his office, shoots him and his secretary to death with a.38 special revolver his office in New York City did she do any stops? he said drive, did she drive or did she ride out there? is this a fucking speed situation?

she got on a bus, 4,500 miles by bus so probably Greyhound bathroom breaks talk to the other you said she drove it. I thought maybe she was pulling over at stops, you know, picking people up on the way. Right, right. She was driving the bus.

What they don't tell you about MKUltra is they make you get a job with the Greyhound services. You think Greyhound buses just run regular? No. You need to be hypnotized by the CIA to take a fucking job driving a bus across the fucking country every week. Next time you get on a Greyhound, count the toes on the dog on the side,

and that's how many hits that driver's pulled off. Yeah, the Greyhound had to stop every five hours so she could meet with a new girl in the polka dot dress. I haven't seen polka dots in 24 hours. I think I'm cured. Yeah, that's the thing. It's like, if you see polka dots in 24 hours. I think I'm cured. Yeah, that's the thing. It's like if you see polka dots, maybe that's why they went out of style is the CIA didn't need them to assassinate Kennedys anymore because the rest fell in line. But yeah, so Lois Lange, she gets on this bus

and is driven 4,500 miles to New York City to walk into this guy's office, ask his secretary if he's there, and then wait for his limo to show up. She returns to his office, shoots the secretary, shoots him. While he was dying, she reportedly said, now you've got yours, and then took out her camera and snapped a picture of his dead body. What the fuck? It just so happens, like, in the 1970s, she had been treated by one, possibly two psychologists who had been linked to the CIA and MKUltra. Oh, wow. So, wait, Sean, you're telling me that the CIA brainwashed people and they committed murders in this country and it was all legal? Yeah, I mean... Well mean well no it wasn't but nobody ever found out about it well folks stay tuned for um our jamie diamond episode where we uh delve into bank of america

and blow the lid off the moon landing so wait is mk ultra related to like when they may when lsd was created as well like the truth serum stuff or is that separate from mk lsd lsd was part of the mk ultra program uh mk ultra kind of grew out of the uh biological weapons uh program that the military was running as well as um uh the the idea we covered i think we maybe um, uh, the, the idea we covered, I think we, maybe you weren't here on the episode where we covered it, but it, it,

um, it, it grew out of, um, this, uh, idea that it, during the Korean war,

some soldiers, uh, were arrested by the North Koreans and, uh, tortured and then admitted were tortured and then admitted to dropping biological weapons on Korea. And the jury's still out on whether they actually did. But the takeaway from the United States government, at least officially, the takeaway was that,

oh, wow, they can brainwash people and make them say things that aren't real again it's unclear whether america actually used biological weapons in north korea this is what they said gotcha um and so they were like we need to figure out how this works for defensive purposes uh and so um and so that's that was kind of the genesis of the mk ultra program uh poisoner in chief by stephen kinzer has a good overview of it yeah like so tom o'neill um i listened to the interview he did with joe rogan it's actually pretty fascinating and i haven't read the book yet i'm sure it's great but he talked about how part of their lsd experiments was uh the cia's lSD experiments, were to see... Are you talking about chaos?

Yes, yes. Okay, I read that. Yeah, well, yeah, so Tom O'Neill talked about how part of the CIA's LSD experiments were to see the type of people who can have a psychological break on LSD. Like, there are certain people who, you drop acid it's fine but other people you know if they drop acid a number of times they will eventually have a personality change and i guess the cia was looking into whether or not they could induce psychosis in people with lsd as well as other drugs and just trying to find these particular people who would respond to it

so it's like you do have these kind of mentally ill people like Sirhan Sirhan and this bag lady who shot Nicholas Deke to death, where it's not implausible that those are the types of personalities who would respond to drugs or this kind of program. I don't know, but it's the kind of thing that makes me stay awake at night. Yo, Sean, do we got a name for this bag lady or is the official doc say this person was a bag lady like we got sirhan sirhan on the books but we just have bag lady for this woman that clearly may have been uh manipulated by the united states government uh no i said her name earlier i think it was lois lang oh that's right yeah but but so she was in

the 1970s she was treated at the stanford research institute um and apparently the uh it had received cia funding and the doctor that treated lang had previously published research about using drugs to create induced schizophrenia so again yeah the idea of induced psychosis or what the cia wanted was fucking killers who would have no memory of the crime and you know uh so uh one of the things from from chaos it's chaos that also to go down this rabbit hole was covered was that jack ruby the guy who killed oswald right before he was interviewed by the Warren Report, he was allegedly visited by somebody involved peripherally with MKUltra. And apparently by the time he was interviewed by the Warren Commission, he had, I guess, lost his mind. uh you know there was maybe it one of the conclusions from chaos was that maybe it's it's questionable as to whether you could um uh program an assassin like a manchurian

candidate type um but it was more plausible that you could kind of drive someone to lose their mind more or less like jack ruby and so uh that was that was just another you know if you want to if you want to uh go down these brain worm tubes that's that's another avenue you can take right what we're saying here is the new york times you can listen to that episode if you want to be controlled opposition but if you want to be the real dissidents we're putting that stuff on the free side so you can learn about how that fedex driver who uh for some reason shoots this judge who rules in his favor uh and then writes these like rambling manifest because it's like the thing is you know obviously the cia changes with the times and i think it's interesting that you know you just hear like mra lawyer and shoot somebody to

death i think in a lot of people's minds just the fact that somebody's like a men's rights activist or a racist or whatever i think that convinces people that they are capable of murder. And the vast, vast, vast majority of, you know, men's rights activists, racists, whatever, or people who post shitty stuff online are not. And they're especially not capable of just killing a fucking federal judge who just so happens to be linked to a Deutsche Bank case. And then, you know, committing suicide before anybody can question them about, you know, why or what happened or any such thing. And we just have to take your word for it that the note that was found near her body is accurate. So maybe, maybe not. losing our minds i just want to note that yesterday someone open fired on the white house i i think was killed by the secret service and no one noticed they just paused a press conference

i didn't know he was killed uh or at least yeah at least he was he was uh disabled but like there was a shooting outside the white house like we are in weird times where if that happened in another country you would just assume that it's it's a failing state but um so if it sounds like we're losing our minds that's because everyone is obviously i knew it was a mistake to start selling polka dot dresses on pennsylvania avenue you know oh i did want to mention sorry i did want to mention, sorry, I did want to mention that Lois Lang had apparently, according to the Daily Mail, met with two Argentinian gangsters,

perhaps connected to those who had lost money in Deke's bank in Miami shortly before she purchased the revolver she used to kill Deke. And it's just weird because, again, this is a mentally ill homeless bag lady going down to Miami to meet with these two professional Argentinian killers in Miami, then going and buying a gun and getting on a bus and the Deutsche Bank judge story. Maybe they're telling us the truth there, but you look at these kind of cases like Deke and RFK and Sirhan Sirhan, and you just have to imagine there are things that the CIA is not telling us

with regards to how some of these events play out. Going back to Deutsche Bank and the... Oh, yeah. That's what we were talking about. The early 70s here. No, all of my tangent was related to the episode. People need the truth about the FedEx driver. And I have told them two random, totally unrelated, rambling conspiracy theories that you can really, if you've got a Russellsell crowe beautiful mind you can connect them to the

fedex driver and deutsche bank and the subject of the episode listen sometimes it's me talking about alligator blood sometimes sean just wants to talk about fucking mk ultra every now and then you know you gotta you gotta deal with what we give you i think i i think one thing we've accomplished is uh made john nash seem relatively grounded in reality? I want to know how John Nash would have handled quarantine. Okay, let's see how he does when he can't leave a one-bedroom apartment in Manhattan for four months in a row. So in the late 60s, 1967, Herman Abbs would retire and be replaced by Carl Clausen and Franz Henrik Oerler.

They took his place becoming co-spokesmen for the bank. And then in the 70s, Deutsche Bank would become the dominant financial institution in West Germany. Under the guidelines of the universal banking system in place in Germany for more than a century, commercial banks were allowed to hold unlimited interest in industrial companies, underwrite and trade securities on their own, and play the foreign currency markets. In addition to providing credit and accepting deposits, Deutsche Bank took advantage of this rule during the 60s and 70s by investing in a wide range of industrial companies in 1979 they would hold seats on supervisory boards of 140 companies among them daimler benz volkswagen siemens aeg theisenbeyer nixdorf alliance and philip haulsman i don't know if all those companies are linked to um uh the the the nazi party but i think i mean well through deuts Bank, they are. But like, aren't most of those companies got some sort of links to Hitler?

I mean, I can say for a fact that Siemens used slave labor, Jewish slave labor during the Holocaust. Every large corporation that existed from the 30s onwards at that status was, basically. Yeah, Mexico,

Mexico, yeah. was basically. Jeez. Ja, Mexicalcia. Yes. Yeah, I feel bad that we didn't do enough bad German accent questions to David and Rick. Oh, you know what we should have done? We should have all done German accents throughout the entire interview and never mentioned it. Just every question we have.

So we are wondering why you believe the deutsche bank is bad you write book that say bank bad but we think bank good yeah we just all got like the fucking world war one spike helmets and the prussian mustaches it's like is this a bit is it are these real people utterly disrespecting one of our most serious guests it's like damn i i don't shout out to david inrush i thought i thought i knew germans interviewing everyone to make this book but i i can't tell if this is a joke or if these are real Germans. I got to say, I am loving our Deutsche Bank episode strategy where it's like, if you want real facts, you got to pay us money.

Yeah, of course. There's an interview with a New York Times reporter on the Patreon if you want to know real things. But if you want to hear bad accents and MKUltra chemtrails conspiracy theories, that's right here, baby. We're making fucking content during the end of the fucking world. Society's crumbling and we're fucking sitting here with microphones instead of fucking building our guns arsenal and

constantly being paranoid of the upcoming Kamala Biden doom. Yeah, I could have coronavirus. I'm still here. I'm here on the Drops podcast, you ungrateful motherfuckers who complain about the alligator blood bit and

stop several hundred of you unsubscribed to our Patreon while I'm like murdering myself to do this shitty podcast every week for you. Twice a week, Sean. We do have a yes yes this is the delirium from the coronavirus is setting in already like every fucking day i wake up

and i look at the fucking news and social media and all of it makes me depressed and i go all right well time to learn about a fucking depressing oligarch that's actually controlling most of this shit and it never ends i was literally i went to i went and got groceries today right and i was in trader joe's and like i hadn't been there in fucking months right i was walking around and i was like man this is like nice like i was like i was air conditioned i'd been biking all day so i was like this is like really nice and then immediately i'm like yeah you can do this when you fucking rob people and do fucking cocaine and but like every fucking fact in the thing just hit my head in that moment from our all the episodes and i was just like oh that's right

you can live slightly comfortably if you exploit people constantly for hundreds of years oh yeah like every day i'm like you know i've beaten myself up about about being unemployed and how bleak everything is. Then I think, oh, no, wait, man. It's okay. You're part of a podcast about how nothing's going to get better. It was so great. My wife took me to Marshall's and she got me some nice shirts. Just very nice button-ups.

I would look at them and I'd be like, oh oh man, this is such a great shirt for $12. And then you have to beat down the part of your brain that knows why this shirt is $12. Yeah, if anyone's wondering why we haven't put out merch yet, it's because we still haven't figured out a way. It's next to impossible to just figure out a supply line without slavery for any kind of clothing it is true like if we if we had just like not done our um clothing supply line episodes before we started selling merch yeah that we would have merch by now yeah but we know too much so by the mid 70s uh deutsche bank would be interrupted

in 75 when middle eastern concerns flush with petrodollars supplanted the big banks as a source of capital investment at the request of chancellor helmut schmidt deutsche bank purchased a 29 interest in daimler bends for industrial fried Flick to ensure that it would stay in German hands, with the understanding that the bank would resell the shares once the crisis had passed. Deutsche Bank already owned 25% of the famed automaker. In December of that year, it resold the shares to a consortium that included Commerzbank, Dresdner Bank, and Bayerisch Landsbank. Bayerreichs Land... Am I saying this right?

Bayerreichs Landsbank. You could just say Bavarian. Oh, yeah, that makes sense. Wait, what did you say? I can say in Bavarian? No, Bayerisch means Bavarian. Oh. Bavarian Landsbank. Bavarian National Bank. Ierische means Bavarian. Bavarian Landsbank?

Bavarian National Bank. I had no idea. That makes sense. Yogi, you're the expert. Don't listen to Andy. This is all I have. My German isn't even that good. I can just pronounce things. If you're a listener in Germany, please write into the podcast

and say that Yogi is pronouncing it correctly and Andy is pronouncing it incorrectly just watch my self-esteem crumble even more Andy just erases on his LinkedIn fluent in German and just fucking tears roll down while he's like

the one special skill I had that's fucking dark yeah we uh we we listen to grub stickers and we're interested in hiring a translator for our German business. No, not Andy. Yogi. So then by the 1980s, Deutsche Bank would make major expansions into its foreign operations, both in commercial banking and investment banking.

It would open its first U.S. branch office in New York in 1979, and by 87, it had bought out all its partners in Eurus Bank Consortium and renamed it Deutsche Bank Asia, of 1988, the bank had approximately 7.2 million customers at 1,530 offices, more than 200 of them outside of West Germany. So in 1980, Deutsche Bank was the only one of the West German big three banks to turn a healthy profit. Unlike Commerce Bank and Dresdner Bank, the other two of the big three, Deutsche Bank did not over-expand but remained cautious in the face of high interest rates and continued recession. In 1984, it acquired a 4.9% stake in Morgan Greenfell, the British securities firm. In 1985, it would buy the scandal-plagued industrial giant Flick in Der Strudelwaltung from Friedrich Flick with the intention of taking it public. And in 1988, it acquired a 2.5% interest in the automaker Fiat.

Friedrich Flick, we also did an episode on, and I will give you a one-word summary. Nazi! Nazi! Yes, when we did the Anyani episode, we talked about how by the 80s, they would start flipping a profit. This would be a part of the reason they're pairing with Deutsche Bank here. Another sign of Deutsche Bank's aggressive pursuit of foreign markets was the fact that in the wake of the stock market crash in October 87,

at a time where massive layoffs were taking place in the securities industry, the American Securities Affiliate, Deutsche Bank Capital Corporation, expanded its workforce. In 88, Deutsche Bank entered the treasury securities market at a time when many foreign firms were leaving. Two years later, the U.S. Federal Reserve recognized Deutsche Bank, Government Securities, Inc. as a primary dealer of government securities. So now, at around this time is when Edson Mitchell, and this is now referencing Dark Towers, the book written by David Enrich, Edson Mitchell and a few other partners would start meeting together and figure out how to leave the companies that they were currently at to join Deutsche Bank to then start the three decade long run that they would go through from 1990 to now where they would just wreak havoc on the fucking financial industry.

Yeah it seems like the story David Enrich tells is that in the 1990s Deutsche Bank makes a real change towards being a very reckless Wall Street bank, whereas before then it was very conservative and cautious. But then it just starts going balls to the wall, and we are seeing the results today where it's just completely exploded. I think the peak stock price in 2007 was something like $170 a share, $120 a share in 2007. And then as of August 11th, 2020, it's trading about $9.55 a share. So the stock price has completely imploded. Yeah, when they would join the company, Deutsche Bank would have like a German board of directors

that would help decide what decisions to be made versus what shouldn't be made. And then slowly they would turn that to where it would become a CEO model. And so, you know, the new kids on the block of Deutsche Bank would eventually take the keys to the castle and just fucking run amok with that shit. But before that would happen in the early 1990s, this is when Deutsche Bank as net income would more than double between 1990 and 1993. This would be reversed in 1994 when a series of problems hit within a short period of time. First, the bank suffered huge losses from loans of $1.2 billion it had made to a property group run by Juergen Schneider, which collapsed in early 1994. Then two firms in which Deutsche Bank had invested heavily ran into

trouble. Yeah, I thought he would be good for it. Balsam filed for bankruptcy and Metalgeschlacht MG, an engineering conglomerate, nearly collapsed after losing 1.33 billion on speculative oil trades. Copper provoked

additional controversy and public resentment when he called bills amounting to $33 million that the Schneider Property Group owed to construction workers peanuts. Fucking assholes. In 1995, the former head of MG sued Deutsche Bank over who was responsible for MG's downfall. And this would be around the time where Deutsche Bank's ties to the Nazi government would be dredged up when East German files were made public for the first time. So literally from 1945 to 1995,

when people would be like, hey, Deutsche Bank and Nazis, they'd be like, uh-uh, there's no evidence. And then in 95, they're like, ah, there's evidence, buddy. We got files on your shit now. 95 marks the year that they were ready to begin the healing process

by admitting some of their Nazi ties. Right, right. But very much not the funding Auschwitz and looking at the building plans part of it. So in 94, Deutsche Bank would have significant losses and it would force them to increase its loss reserves. And then in 95, Deutsche Bank would have significant losses, and it would force them to increase its loss reserves. And then in 95, Deutsche Bank would make significant moves to further establish itself as a global investment bank. This is when Edson Mitchell and his new crew would roll in.

Deutsche Bank North America acquired ITT Commercial Finance Corporation for $868 million to strengthen its presence in asset-based lending. The acquisition was immediately renamed Deutsche Financial Services Corporation. Later, in 1995, Deutsche Bank would consolidate all of its investment banking operations into Morgan Greenfell under a new unit, Deutsche Morgan Greenfell DMG, based in London and headed by Ronaldo Schmitz. The move shifted more than half of Deutsche Bank's businesses to London control rather than the Frankfurt, a shift that the European, which is a magazine,

called a corporate revolution. So at this point, they'd move all of their fucking shit to London, which was fucking unprecedented for them because they were like, we're German through and through. But now they're essentially becoming big bankers in the UK. So in September 95, Deutsche Bank would unveil Bank 24, We're German through and through. But now they're essentially becoming big bankers in the UK. So in September 1995, Deutsche Bank would unveil Bank24, the first full-service telephone bank in Germany. At the same time, the company was in midst of a four-year effort ending in 1996 to reduce the domestic staff by 20%, with much of these cuts coming from the traditional-based retail network.

Further innovation came to the domestic operations in 96 when Deutsche Bank opened its first supermarket banks. And that same year, DMG would have a scandal where a fund manager would assign bogus values to securities in his portfolio, reacting quickly. Deutsche Bank management fired four managers and spent $280 million to cover potential losses at two funds. And then in late 96, Coupa announced his resignation from his position as spokesman, but remained chairman of the supervisory board that I mentioned a moment ago.

And Rolf Ernst Breuer, who had headed up the investment banking operations, became the new spokesman in 97. All right. became the new spokesman in 97 all right so in 97 doja bank would sell its 48 branch operation in argentina to bank boston corporation for about 225 million and that year the bank set up and all their clients had died right right at that point we don't need our fucking argentina arm anymore yeah at that point the the bank set up an independent historical commission to research its role during the Nazi era. These investigations were becoming... The bank, sorry, the bank set up an independent to investigate its role. This was becoming common in the wake of the Cold War.

Yeah, Viva helping people a lot, actually. So, by 98, the bank... That's really introspective do some uh self-crit um in 98 the guy oscar schindler is based on us actually um all right so in 98 the deutsche bank would admit that it profited from gold looted from holocaust victims and said that the bank officials at the time likely knew the source of the gold. An $18 billion lawsuit was filed against Deutsche Bank and other German lenders in relation to such looted gold. Deutsche Bank would reveal in 99 that it helped finance the construction of Auschwitz, the infamous Nazi death camp in Poland. And then this shit would continue in 98. DMG would transfer most of the management control

of the investment bank operations back to Frankfurt. They couldn't make it in the UK. Then, you know, this got kicked out. They financed the construction of Auschwitz. Yeah. I just want to get that, the weight. The fucking weight. I mean, like, that's the type of shit that I was so pissed off about

when you'd see David Enrich interviews where he'd be like, I mean, it's just a small bank that no one really knows about. And it's like, motherfucker, this bank funded the worst oppression that's happened in history. Crazy. I mean, that's what's so funny about the Deutsche Bank story is because, yeah, it starts with like literally thousands of pounds of gold ripped out of the teeth of Jewish murder victims. And then from there it goes to, oh, yeah, our clients are abroad in Argentina and Sao Paulo for some reason.

Right. So let's service them. Let's make our money doing that. So it goes from that to that. And then up to the 90s, they go, well, what haven't we done yet? would choose to take over Banker's Trust. And this would be completed in June 99. And, I mean, this would be after all the negative publicity about, you know, what they had done in the Nazi era. And they agreed to contribute to a fund set up to settle Holocaust-era claims. The bank refused, however, to be held liable for its holdings in industrial companies that used forced laborers during that period.

With the purchase of Bankers Trust, Deutsche Bank became the largest bank in the world with assets of about $750 billion. This position of preeminence proved short-lived, however, as the company was soon surpassed by Mizu Holdings, which was formed in 2000 from the merger of three Japanese banks. Now, real quick on Bankers Trust. Their former alumni is a man we might know, Jeff Bezos. That's right. He used to work at Bankers Trust. And also, Bankers Trust, before it was purchased by Deutsche Bank,

was purchased by Alex Brown & Sons for $1.7 billion and $2.5 billion in stock acquisition. And then two years later, in 1999, Deutsche Bank would buy Bankers Trust and Alex Brown & Sons for $10 billion. An alumni of Alex Brown that I found notable is in 98, the Alex Brown's chairman was A.B. Buzzy Crongard, who later on in 2001 would be appointed the executive director of the CIA. That's right, the Central Intelligence Agency. It all connects. Well, actually, if you do Google Deutsche Bank and the CIA,

you'll find an interesting article from 2001, actually, that does happen to make a note of, yeah, Buzzy Krongard and the CIA. But also, there was a whole bunch of put options put on United Airlines and American Airlines stock in the days leading up to 9-11. Oh, yeah. Apparently, some of those trades were routed through Deutsche Bank. What? So, look, I don't know, but maybe. Maybe even through Bankers Trust. Yeah, potentially.

I'm certainly skeptical of the CIA, but I feel like on maybe some of those, you might want to check the websites. You're getting that info. Look, there was a giant lizard with a pyramid on his face. I think it's reliable information. If you zoom in on some of the footage, he's the one flying the plane.

The website asks if you wanted to use frames. I do want to say, like uh we did our episode on you know 9-11 and kind of the saudi arabia connection and i think that's kind of the the main story of in terms of the cover-up in 9-11 but there is a part of that at the time which is the cia allowed two of the hijackers in the san diego cell to enter the country after they'd been flagged on an FBI terrorist list. They should not have been given visas under any circumstance. The CIA allowed them to enter the country. And the speculation I think that we made at the time was the CIA wanted to flip them to like informants or something and then lost track of them.

And that's probably the case but you can't help but say well maybe the cia just let them do their thing you know what i'm saying yeah a little bit of a boys will be boys type of attitude right like i don't believe in controlled demolitions but it wouldn't shock me if 9-11 was allowed to happen or at least some elements of the government had knowledge of it well there is reports that were like the white house did receive that the occurrence of 9-11 was a threat that the white house received but they supposedly received threats all the time so they were like this is just one of a whole bunch is what i've heard about it you know what george george bush's reaction to getting the report

that an attack was imminent was no was that uh he apparently said to the cia guy okay now you've covered your ass what really yeah this was in the fucking uh preschool he was at reading or whatever no no this was this is uh before the attacks oh okay uh when he was getting his like presidential threat briefing uh by you know some some cia guy who's you know it's his big shot to visit the president and bush was like all right now you covered your ass and yeah okay so quoting from reformation.org, although uniformly ignored by the mainstream U.S. media, there's abundant clear evidence that a number of transactions in financial markets indicated foreknowledge of the September 11th attacks. In the case of at least one of these trades, which has left a $2.5 million prize unclaimed, the firm used to place the, quote, put options on United

Airlines stock was until 1998 managed by the man who is now in the number three executive director position at the Central Intelligence Agency. Until 1997, A.B. Buzzy Crongard had been chairman of the investment bank A.B. Brown. A.B. Brown was acquired by Bankers Trust in 1997. He became, as part of the merger, vice chairman of Bankers Trust. A.B. Brown, one of 20 major U.S. banks named by Senator Carl Levin this year as being connected to money laundering, blah, blah, blah. Basically, this is the bank that was used to put a $2.5 million put option on United Airlines stock right before 9-11 now just to maybe put people a little at ease or just kind of allow us to gauge reformation.org you said yes uh go to the

front page and just tell us what the top articles are well let's find out. I don't see why this would be anything but the most breaking news stories, such as the guy shooting at the White House. Okay, so welcome to the Reformation Online, the most timely and truthful, parentheses, I cannot tell a lie. Sean, why are you hard? It's right there. The guy cannot tell a lie, Andy. Enter page two of the Titanic site to access hundreds of more timely articles oh jehovah our jehovah how majestic is your name and all the

psalms psalms eight nine all right then there's a bunch of uh biblical quotations so this is like the lady who claimed that she wrote the short story that led to the matrix and the terminator thing that's right yeah that's one of those things where you'll see something and it'll be like oh maybe there's something there and then you go to just read a few more of the things that that person wrote and you're like okay maybe this uh can go back in the box you know sometimes when i tell people about the show the like first question they'll be like oh that's interesting so like would you ever consider selling to npr and every type of conversation we're having right now always flashes my mind i'm like

no i don't think we'll ever do something like that that that doesn't seem to be their style if you know what i mean guys i've got i've got another scoop here apparently deutsche bank was also connected to insider trading activities shortly before the Munich terrorist attacks. Oh, no. Yes. Our podcast just becomes fucking reading fringe third-party websites. That's it. We no longer cover billionaires.

We just do this. If you play Grubstaker's forwards, it's conspiracy theory talk. If you play it backwards, it's planet money. So we will be ending this part of Deutsche Bank in a moment here. But before we close out, Stephen and I received a... Oh, Jesus. Okay, I just went to Reformation.org too. Well, first of all, they're not SSL secure.

Oh, no. Sean, how dare you? It to Reformation.org, too. Well, first of all, they're not SSL secure. Oh, no. Sean, how dare you? It's because he has nothing to hide. We cannot tell why, sir. The truth is his shield. There are also, Sean failed to mention, random words that are just in a different color. For instance, there's the word jerusalem where usa is red around 1730 bc the patriarch jacob or israel uh predicted that his nation would endure until the messiah came quote the scepter shall not depart from all caps and all in red text judah

nor the lawgiver from his loins and then then all caps in red, until Shiloh comes. Oh, Shiloh. And unto him shall the gathering of the people be, Genesis 49.10. Look, can I just say, yes, we can discredit this website, but it is sort of weird that on September 10th, 4,516 put options on American Airlines stock were bought on the Chicago Exchange compared to only put, of course, the option to buy it at a lower price later, whereas a put option is you think the stock price is going to go down, a call is you think it's going to go up.

First article on Reformation.org, The American Revolution and the Holy Bible. Second article, Generalismo Georgehington unmasked at last uh third article this one's in red uh text red march seven russian rogue sub sank near pearl harbor uh fourth article the two new world babylons yes yeah what happened to grub stakers didn't they they used to do those shitty drops oh it got much worse after they stopped doing drops oh we got one uh down here the fourth reich is here and that's under uh the george washington philadelphia pandemic um is it like a picture of people wearing masks oh wait corona for the fourth reich is the real reason for coronavirus.

Okay, we got some pictures of Pope Paul VI. A lot of pictures of popes in this article. Since the founding of the papal dynasty, and in the word dynasty, the word nasty is in red. He can't tell a lie, guys guys in case it wasn't clear enough all right but wait a minute wait listen to this okay morgan stanley occupied 22 floors of the world trade center they saw 2157 of its october 45 put options bought in the three trading days before 9-11 this compares to an average of 27 contracts per day before September 6th. Merrill Lynch, occupied 22 floors of the World Trade Center, saw 12,215 October $45 put options

bought in the four trading days before the attack. The previous average volume in those shares had been 252 contracts per day. All right. I know we're not doing rational thought right now but can i just ask like what what else was going on with united airlines in the in the days leading up to the attack wait i think this guy something else bad perhaps wait hold on guys i got some breaking news about the coronavirus so i said you know the thing about papal dynasty uh pope julius

the first uh since the founding uh the vast majority of popes have been all caps monks until 1972 monks were required to wear the corona tonsure what it was the mark or badge of servitude to the babylonian system until the time of the blessed reformation all latin church clergymen were required to wear the corona tonsure the only monks who were exempt from wearing the tonsure were jesuits right not tony shalhoub this also says uh i'm skipping a paragraph here, that Antichrist blessed the Kennedy assassination conspirators. He also blessed Operation 666. We can't argue with that.

The Antichrist they're referring to is Pope Paul VI. Nice. Apparently Tony Shalhoub is connected to coronavirus. This is terrible. Wouldn't be the first pope to be considered the Antichrist. Yeah. No, seriously. Andy Breckman, you betrayed me.

Did you know that shortly before they did Vatican II, the Pope was exposed to a woman wearing a polka dot dress? I'm going to create a polka dot grub stickers logo after the show. Can we close out this fucking episode? I'm going to create a polka dot grub stickers logo after the show. All right. Can we close out this fucking episode? Can we please end this madness that is our show?

I guess we'll do it. We'll do a third part, I think. All right. We still have more to fucking say right now, Sean. Yeah, I know. I know. All right. So before we close out, we actually got some moderate mid- dirt uh given to us by our informant agent white

uh thank you to to the information you gave us and in our our um meetings um and uh steven and i were able to decipher it via our uh internet and intellect and steven would you like to help inform our audience what we learned we were were saying Deutsche Bank acquired Bankers Trust at kind of what was considered to be a pretty good price. They bought them, the entire enterprise, for about $10.1 billion. That's right. And inside of Bankers Trust was a bunch of really sketchy ass traders and bankers that they just kept on staff. Right. And so those people and the whole culture that they brought with them of flaunting what little derivatives trading rules there were at the time. And basically just like being paid to test the limits of their regulators. That stayed.

And Deutsche Bank was already trending towards doing that on their own, but what this informant basically told us is that this is believed to have supercharged things in terms of like the degenerate like degeneration of uh internal procedures to keep deutsche bank uh at least nominally within compliance of international finance laws they had a they had a whole internal culture of putting put options on united airlines it's september 6 2001 i mean what steven's describing, though, is you need some bad men to get the job done

of the crime you want to get done. And with the Bankers Trust acquisition, they are willing to pay them cowboys to rebel. Yeah, so just a few examples of what they were buying into when they bought Bankers Trust. So in 1995,

litigation by two major corporate clients of bankers trust shed light on the how things like how far things have gotten worse in the like the over-the-counter derivatives trading market right it's just one of bankers trust Trust's specialties. So a few Banker's Trust employees were found to have repeatedly provided customers with incorrect valuations of just how much they were exposed to their derivatives positions, which was a lot. And they said, like, we're actually within – basically, they were doing fraud and saying that the level of exposure was less than it actually was and so the commodity futures trading commission during the time which was their nominally their regulator um they they weren't really in they they couldn't keep track of they're having a hard enough time to keeping track of the derivatives trading of companies that actually put effort into keeping records of what they did

but bankers trust had like little to no records at all and sort of like david inrich was saying like even if um they just didn't keep track of what they were doing almost right at a basic level like there's like little to no controls over what these trading desks were doing almost right at a basic level like there's like little to no controls over what these trading desks were doing especially for things like um cdos and stuff which bankers trust was trading and frontline actually did a documentary years later after the crisis saying that bankers trust activities were sort of like they could be viewed as an early warning sign of the crisis to come and that they were doing all these risky things with trading credit default swaps and stuff.

Yes, if diabetes is the 2008 crisis, this would be the pre-diabetes time. Exactly. So Deutsche Bank, fast fast forwarding a bit deutsche bank buys them for 10.1 billion in 1998 in november and uh as our as our source kind of like uh lays out for us basically uh they they sold off a few units within bankers trust but kept the worst ones in terms of like flaunting like basic controls over and uh corporate governance years later the ceo at the time uh told all of the big time traders like okay we had we had one bad year this in the early 2000s after

the 2001 crash he said we've had a really bad year so you don't get any bonuses and on wall street um for guys at that level the bonus is most of their compensation so one thing that happened and it was like turning into a pretty big scandal is the some of the really serious portfolio managers within Deutsche Bank in New York and London, they sold off a bunch of... They liquidated part of their portfolios in order to effectively give themselves the bonus

that they didn't get from the company. Right. This classic maneuver. But, like, highly illegal. But they did it. And they sold sold so they sold off large chunks of that to give themselves bonuses and some of those guys were bankers trust people and this is kind of like an example like at the time, Goldman Sachs, who recently it's been theorized they won't even do business with... They've been doing a lot less business with Deutsche Bank because of how uncomfortable the shit Deutsche Bank does makes even them feel.

Wow. At the time, we were like, yeah, I mean mean this is just like fucking nuts fucking too scummy from goldman sachs so like that that sort of cultural the cultural shift that deutsche bank took on its own and started in like the early 90s uh buying bankers trust basically supercharged it and with that we're going to be closing uh two of our Deutsche Bank series here. With the next part we're going to be talking about Deutsche Bank from the 2000s to now, their connections to Donald Trump, the lavish

and scandalous parties, the lifestyles of the rich and famous enjoyed, as well as the many, many more controversies that occurred during the last 20 years of their reign. Thank you for joining us on Grubstakers. My name is Yogi Poliwal. I'm Sean P. McCarthy.

I'm Andy Palmer. I'm Steve Jeffers. We're going to talk about what they were doing with Delta stock on part three. We have found a treasure trove at revelations.org. We are going to be accessing that for all of our future episodes. All right.

Everyone stop your fucking recorders. Bye. You know nothing, fool. It's Chaos, the god of destruction. Ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha