HSBC - The Untouchable Bank


Praying Mantis
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Interesting documentary with some neat scenes of old & new Hong Kong. It's 1 hour, 27 minutes long. If you're interested in watching it but can't watch it in one sitting, I'd recommend watching it in segments.

Banksters: The Untouchable Bank (Global Finance Scandal Documentary) | Real Stories​

Nov 19, 2022

From the director of ‘Goldman Sachs: The Bank that Rules the World’ comes a major new investigation into corruption at one of the world’s top financial institutions – HSBC.

If HSBC were a country, it would be the fifth world economic power. Founded during the golden age of the Opium trade to enable the British Empire to access the Chinese market, it has created a unique network to move dirty money around the world. From tax evasion to money laundering for the mafia and manipulation of currency, “this bank had done everything bad that a bank can possibly do.”

In 2012, HSBC nearly lost its license to operate in the US for laundering the money of the Mexican and Columbian drug cartels.

Criminal charges were filed and HSBC’s executives hauled before a Senate committee. But George Osborne, UK’s then Chancellor of the Exchequer, wrote to his counterpart in America and to the Chairman of the Federal Reserve to plead for leniency. He claimed that if HSBC received a harsh punishment, it would have serious repercussions on the world’s financial and economic stability. The letter worked and HSBC was fined 2 billion euros. The equivalent of one month’s profits.

As the center of international finance moves to Asia, HSBC is in prime position. It is the most Chinese of Western banks and the most European of Chinese banks. Protected by London, blessed by Beijing, who would dare attack it?


Your Host
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In the United Kingdom, Silicon Valley Bank UK has just been sold to banking giant HSBC for £1, the British government and the buyer said. British authorities have assured that Silicon Valley Bank UK depositors will be protected and will have access to their accounts beginning March 13.

"The assets and liabilities of the parent companies of SVB UK are excluded from the transaction," HSBC said in a statement, adding that the transaction closed "immediately."



Big Eyed Bug
GIM2 Refugee
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Deep Behind Enemy Lines in Southern California
i've wondered now, for a few years, how many CC offers, new mortgages, etc, have written in the new fine print that any exchange away from the USD into anything else society will now call money is going to be how you will continue to make your payments

sorta like they added that in as they know it's close

there will be no excuses, they won't accept your argument that the contract was to pay back in USD but, since that's no longer available...that contract is now void

i've asked around if anyone has found that legal print but i have no friends and if i did, they'd all mostly have terrible eyesight by now...
(everyone i've asked thought i was crazy for thinking about it)

oh well

but i'm concerned about any exchange rate...if i now pay $2k per month for my mortgage, and the exchange is anything other than 1 to 1, we all know the advantage won't be mine

it's not our game

rant over
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