Dark Towers: Deutsche Bank, Donald Trump, and an Epic Trail of Destruction

As we embark on this journey through the towering saga of one of the world's most influential banks, it is essential to understand its foundations—both the shining ambitions and the dark shadows that stretch across its early history. Deutsche Bank was born in 1870 with a bold mission: to serve as the financial backbone for German industry expanding beyond its borders. It sought to liberate German businesses from the grip of British banking dominance, carving a path for the nation’s economic imperialism. This vision propelled the bank to open outposts from China to the United States, financing ambitious ventures like the Northern Pacific Railway. The story of Henry Villard, the so-called Railroad King, exemplifies the bank’s early daring and folly. Villard, a man of charm and grand ideas, repeatedly secured vast sums from Deutsche despite shaky financial footing, driving the bank into risky waters. His railroad empire, sprawling across thousands of miles of track, was built on a foundation of debt that would soon prove unsustainable.

Yet, as the bank grew, so did the darkness entwined with its operations. The Nazi era revealed a chilling chapter. Deutsche Bank was no mere bystander; it was a willing participant in financing Auschwitz, orchestrating Aryanization—the forced takeover of Jewish businesses—and selling the Nazis' stolen gold. These actions were not accidental but the result of calculated decisions by the bank’s leadership, prioritizing expedience over morality. After the war, while some executives faced trial, the bank was swiftly rehabilitated, its dark past largely glossed over as it re-emerged to power Germany’s post-war economic miracle.

This duality of visionary ambition and ethical compromise set the stage for the bank’s future. It is a reminder that institutions, like individuals, carry the weight of their histories. As we move forward, we will see how these early patterns of risk-taking, moral ambiguity, and relentless pursuit of power echo through the decades, shaping not only the bank’s destiny but also the global financial landscape.

Let us now turn to the individuals who would come to embody this complex culture—a mix of brilliance, ambition, and inner conflict—that would define Deutsche Bank’s modern era.