It’s a matter of time before someone gets hurt in the slow-motion collapse of Deutsche Bank, Europe’s largest bank. You need to be sure – even if you’re far away from Germany – that your money isn’t collateral damage. And if you own ETFs or ETNs (which trade in a similar way but are very different) that are issued by Deutsche Bank, you’ll want to pay particularly close attention.

And it’s not just Deutsche Bank. If you own an ETF or an ETN, there’s a good chance that you’re taking counterparty risk (which I’ll explain in a minute) that you’re not even aware of.

Last month, I suggested three telltale signs that a bank – in this case, Deutsche Bank – is in serious trouble. Since then, Deutsche Bank has unfortunately been acing all three of these tests with flying colours. Senior government ministers and the bank’s head …