Western Banks In Turmoil As British Banking Giant #HSBC Nears Total Collapse


Whatdoesitmean.com

By: Sorcha Faal, and as reported to her Western Subscribers

The Ministry of Finance (MoF) is reporting today that British banking giant HSBC is nearing a total collapse after its having lost a staggering nearly $1 trillion due to the ongoing Great 2015 Global Market Crash and earlier today it completely ran out of cash to pay its obligations and depositors.

According to this report, HSBC is a multinational banking and financial services company headquartered in London, United Kingdom and is the world’s fourth largest bank by total assets worth $2.67 trillion.

Not known to many Westerners, this report continues, HSBC was established in its present form in London in 1991 by the Hong Kong and Shanghai Banking Corporation Limited to act as a new group holding company and the origins of this banking giant mainly lies in Hong Kong, and also to a lesser extent Shanghai, where branches were first opened in 1865.

Due to the staggering crash of the Shanghai Composite index that has shed 38% of its value since 12 June, this report explains, HSBC lost nearly $700 billion of its value in China while a further estimated $300 billion has been lost due to the Dow’s collapse of over 1,800 points since its high for the year was reached on 27 May.

To the consequences of this massive $1 trillion HSBC loss, this report says, began hours ago when reports began to surface in the UK that hundreds-of-thousands of people were not being paid their salaries, which this British banking giant first tried to deny, but a few hours later blamed their failure to pay on a “computer glitch.

HSBC

MoF experts in this report dismiss HSBC’s explanation of a “computer glitch” noting that this phrase is commonly used by Western banking and financial institutions as a “cover story” to mask their inability to access cash…and is likewise being used to explain what is preventing hundreds of American mutual and exchange-traded funds from providing their investors with the values of their holdings, and why one of the world’s largest brokerages, Charles Schwab, shut down earlier today too.

As HSBC is Britain’s largest bank, this report notes, it has appealed for an emergency loan from the Bank of England (BoE), with the BoE then appealing to the European Central Bank (ECB), and the ECB then appealing to the US Federal Reserve System (FRS).

With the US Congress having verified that over $16 trillion of the American peoples money was given by the US Federal Reserve to European corporations and banks, purportedly for “financial assistance” during and after the 2008 fiscal crisis, this report says, it remains “highly probable” they will do so again before HSBC totally collapses.

HSBC2

And with China continuing to dump hundreds-of-billions of its US held debt to stabilize its own markets and economies, this report concludes, the near collapse of HSBC today is but a prelude to the coming greater global financial collapse some experts have warned will “change the landscape of the entire world”.

Though not mentioned in this report, it is interesting to note that at least the American people are seeing the truth and, according to one news source, are “yanking their money from almost everything”…which in turn has led one of the elites major mouthpieces, the Financial Times, to publish an anonymous article calling for the outright abolition of cash in order to give central banks and governments more power.

August 28, 2015 © EU and US all rights reserved. Permission to use this report in its entirety is granted under the condition it is linked back to its original source at WhatDoesItMean.Com. Freebase content licensed under CC-BY and GFDL.

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The Guardian

HSBC system failure leaves thousands facing bank holiday without pay

Problem with BACS payment system means salaries have not arrived for many customers as bank faces barrage of complaints. Read more

HSBC BACS

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6 thoughts on “Western Banks In Turmoil As British Banking Giant #HSBC Nears Total Collapse

  1. Pingback: HSBC bank crash | My Blog

  2. “Western Banks In Turmoil As British Banking Giant #HSBC Nears Total Collapse”

    Yes indeed.

    Also to share this…

    HSBC Bank TOTAL Collapse nears. Banks in Turmoil at UK’s Largest Bank Imminent Close – https://www.youtube.com/watch?v=kaELOX9UEaQ

    Feb 11, 2015 – Panorama – The Bank of Tax Cheats

    Reporter Richard Bilton reveals how Britain’s biggest bank helped some of its wealthiest customers dodge tax and asks why these tax evaders have not been prosecuted.

    Panorama – The Bank of Tax Cheats – https://www.youtube.com/watch?v=Ksy-DYhgilo

    Sep 7, 2014 – Whistleblower: How HSBC Bank Got Away With Money Laundering for Drug Cartels
    The illicit drug trade relies heavily on money laundering because it is almost exclusively a cash business. Drug interdiction, while an essential component of attacking the illicit drug trade cannot, standing alone, reverse the tide of illicit drugs. Combating money laundering, combined with strong interdiction efforts, offers a more effective law enforcement response.
    – Money Laundering in Florida: Report of the Legislative Task Force, 1999

    Sep 7, 2014 – Whistleblower: How HSBC Bank Got Away With Money Laundering for Drug Cartels – https://www.youtube.com/watch?v=kPWQwxOkL4I

    Jan 20, 2014 – Banks say they are the pillar of the modern society – ruling the streams of money across the globe and keeping a tight grip on the world’s economy; What is going on in offices of top level management is kept in a most valuable secrets. Even governments are afraid to get in confrontation with the enormous financial giants. But today we talk to a man who single-handedly fought the corrupt banking system, with no one behind his back; whistleblower Everett Stern is today’s guest on Sophie&Co.

    Jan 20, 2014 – ‘Terrorism funding just one thing banks getting away with’ – HSBC whistleblower – https://www.youtube.com/watch?v=CDGgT0L_SCw

    Dec 26, 2012 – HSBC & the Largest Money Laundering Fine Ever

    The US government recently hit Europe’s largest bank with the biggest anti-money laundering fine in history: a cool 1.9 billion dollars, along with deferred prosecution, partially docked bonuses and a monitoring overhaul. It’s inarguably a lot of money — so why are so many people claiming HSBC skirted justice? What exactly did the company do?

    HSBC & the Largest Money Laundering Fine Ever – https://www.youtube.com/watch?v=LsiTDf8fFWg

    Dec 15, 2012 – HSBC Couldn’t Track $60 Trillion in Suspicious Activity?

    “Assistant Attorney General Lanny Breuer has failed at prosecuting financial crime, said Eliot Spitzer, former governor and attorney general of New York.

    “Lanny Breuer, who is the assistant in charge of the Criminal Division — horrendous,” Spitzer said on Current TV yesterday, a liberal cable channel where he hosts a talk show. “Should be gone tomorrow. The decision’s he’s made over and over — simply anathema to the appropriate execution of the law of this United States of America. I am outraged by these decisions.”

    Spitzer, the former New York governor who made his name prosecuting Wall Street crime when he was the state’s attorney general, made his comments on The Young Turks, a Current TV show hosted by Cenk Uygur.”*

    HSBC Couldn’t Track $60 Trillion in Suspicious Activity? – https://www.youtube.com/watch?v=y4fIHa8_6wE

    Dec 14, 2012 – HSBC Aids 9/11 Assailants, Gets Out of Jail Free

    “Now: The U.S. government brings its highest profile case yet of international money laundering against one of the world’s biggest banks.

    For years, American officials have sought and sometimes struggled to crack down on the practices. Today, the Departments of Justice and Treasury announced a settlement with HSBC.

    The bank agreed to pay almost $2 billion in fines and penalties. It was charged with violating sanctions laws by conducting business with customers in Iran, Sudan, and Cuba. It was also party to helping them launder almost $900 million for Mexican drug cartels.”*

    HSBC ignored over 17,000 internal compliance review notifications that said there might be an issue in account dealings; they knew they were working with cartels and suspected terrorists and did nothing about it, helping them funnel a trillions of dollars. As Cenk Uygur explains, HSBC got a slap on the wrist from the government, giving a clear sign to other big banks– they can get away with anything.

    *Read more from Judy Woodruff/ PBS Newshour:
    http://www.pbs.org/newshour/bb/busine

    Dec 14, 2012 – HSBC Aids 9/11 Assailants, Gets Out of Jail Free – https://www.youtube.com/watch?v=I2Sr2JbC4WE

    HSBC was able to track Eliot Spitzer’s 3 deposits to a holding account for an escort service. But they couldn’t track $60 trillion in suspicious activity transfers from drug cartels and al-Qaeda that benefited them? Could it be because Spitzer was investigating the banks? Cenk Uygur breaks down the financial hypocrisy.

    Dec 11, 2012 – HSBC to pay $1.9 billion US fine in money-laundering case – https://www.youtube.com/watch?v=xBtP6Sibw2U

    You be the judge.

    Like

  3. Pingback: The Too-Big-to-Fail Banks Have Failed and How Come The Whole World is Still Up and Running? | Satu Insan – Malaysia

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