Does the number of HSBC Lawsuits put Deutsche Bank’s corruption to shame?

Does the number of  HSBC Lawsuits put Deutsche Bank’s corruption to shame?


Welcome to illuminati silver, we tell you
the truth about silver. Today is Tuesday 19th April 2016 and we are
taking a look at the various lawsuits levelled against HSBC. Yesterday we dealt with Deutsche
Bank and its involvement in Share price rigging, Libor and Euribor rigging, Breaking US sanctions,
and Gold and silver price manipulation. Today we are looking at HSBC and in fact our
research is assisted by their own annual report and accounts which reveals a fair amount of
their wrong doing, however our research goes further than that document.
HSBC Holdings plc is a British multinational banking and financial services company headquartered
in London, United Kingdom. It was established in its present form in London in 1991 by the
Hongkong and Shanghai Banking Corporation Limited to act as a new Group holding company.
The origins of the bank lie mainly in Hong Kong and to a lesser extent in Shanghai, where
branches were first opened in 1865. The HSBC name is derived from the initials of the Hongkong
and Shanghai Banking Corporation. The company was first formally incorporated in 1866.
HSBC is organised within four business groups: Commercial Banking; Global Banking and Markets
(investment banking); Retail Banking and Wealth Management; and Global Private Banking. It
has around 4,700 offices in 71 countries and territories across Africa, Asia, Europe, North
America and South America. It has 255,000 full-time employees and approximately 47 million
customers. Its recent figures show that its reported
profit for 2015 was $18.9 bn and revenue of $59.8 bn and has assets of $1,103 billion.
Interestingly it’s Report and Accounts reveal that it has the following law suits and legal
cases pending against it: • In Italy 640
• In Germany 231 • In France 100
• In Turkey 91 • In Spain 1003
And many more in other countries. So let’s just take a look at some of these:
By far the most serious of HSBC’s legal violations is its involvement in money laundering
and sanctions breaking, in which it has a long and disreputable history. HSBC is already
participating in a consent cease-and-desist order dating from 2010 and a deferred prosecution
agreement from 2012. The deferred prosecution agreement or DPA is subject to performance
monitoring. It now appears that HSBC may have breached the terms of the DPA and they are
awaiting a judgement from the Department of Justice.
Next is the long-running legal battle over Household International, the US mortgage lender
that HSBC bought in 2002. According to the Financial Times:
“the lawsuit….alleged Household, its chief executive, chief financial officer and head
of consumer lending made false and misleading statements that inflated the company’s share
price….. The plaintiffs also claimed that Household
artificially boosted its share price by engaging in predatory lending and hid the poor quality
of its loan portfolio and its financial accounting from March 2001 to October 2002.”
The bank lost the US class action in July 2013 but appealed. In May 2015 a retrial was
ordered, which is scheduled for June 2016. If HSBC loses this too, it could face damages
of “up to or exceeding” $3.6bn. Next, Bernie Madoff’s Ponzi scheme. According
to HSBC’s disclosure: “various non-US HSBC companies provided
custodial, administration and similar services to a number of funds incorporated outside
the US whose assets were invested with Madoff Securities…. Various HSBC companies have
been named as defendants in lawsuits arising out of Madoff Securities’ fraud.”
The Madoff fraud involves many of the world’s tax havens. In addition to High Court action
in the UK and an assortment of civil claims and class actions in the US, HSBC is facing
lawsuits in the British Virgin Islands, Bermuda, the Cayman Islands, Luxembourg and Ireland.
HSBC estimates and has provided $800m for the total damages from these actions, but
admits that the amount “could differ significantly”. Then there is the origination, servicing,
securitisation and foreclosure of US mortgages before the financial crisis.
HSBC has already entered into a cease-and-desist order with the Federal Reserve and the Office
of the Comptroller of the Currency: failure to comply with its terms carries undisclosed
money penalties. HSBC has also reached settlement with various regulatory bodies, paying a few
hundred million dollars in fines and redress – but there is more to come.
HSBC is currently defending itself against a host of lawsuits from investors (including
the Blackrock and PIMCO) claiming damages for mis-selling of mortgage securitizations.
HSBC is also undergoing investigation by the DoJ, the Massachusetts District Attorney and
the Colorado District Attorney for its involvement in subprime mortgage origination and securitization.
In February 2016 families of Americans murdered by Mexican drug cartels filed a lawsuit against
HSBC bank for allegedly providing “continuous and systematic material support” to Mexico’s
Sinaloa, Juárez, and Los Zetas cartels by laundering billions of dollars. This follows
on from 2012, whereby HSBC Holdings agreed to pay a record $1.92 billion in fines to
U.S. authorities for allowing itself to be used to launder drug money from Mexico. The
Department of Justice said at the time that the Sinaloa Cartel and Colombia’s Norte
del Valle cartel together laundered $881 million through HSBC and a Mexican branch.
In November 2014 it was reported that the Royal Bank of Scotland and HSBC were included
in a group of five of the world’s biggest banks ordered to pay fines totalling £2billion
by regulators as a result for rigging the foreign exchange market.
The penalties imposed by British, US and Swiss authorities after an 18-month investigation
relate to the rigging of the £3trillion-a-day market, and add to the large sums already
collected over the Libor fixing scandal. Of particular interest to our listeners is
the revelation by HSBC in early 2015 that the CFTC had issued their U.S. branch with
a subpoena in January, demanding documents and details regarding their precious metal
trading operations. In November 2014, the DoJ also requested HSBC issue documents as
part of an antitrust investigation regarding precious metals. We heard in our last video
that Deutsche Bank may indeed reveal the identities of those also involved and we wait to see
whether HSBC is mentioned. We are aware that there are many more cases
that could be covered. We are also very much aware that few if any bank Executives have
gone to prison for the actions of their Organisations, as it seems acceptable that the payment of
a fine is sufficient to remedy all ills. Is this because no proof can be provided beyond
reasonable doubt against an individual, or is it because these banks and Governments
collude in many of such operations for the benefit of those Governments of the day?
What do you think? We hope you have found this video interesting
and informative and if so, please give it a thumb up and share it on twitter. Also kindly
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is updated daily can be found at facebook.com/illuminatisilver Disclaimer: Illuminati Silver owners come from a background
of Banking, International Wealth Management and Economics. Having now retired from these
worlds we are not qualified to give investment advice. Therefore, this and other productions
must not be deemed to be giving such advice and merely represent the personal views of
its owners.

25 Comments

  1. All the more reason to get outa the system lords sick banking scam and go with peer to peer decentralized cryptocurrencies.

  2. If anyone thinks it is bad now wait 20-30 years till all the paper money is gone and all they have to do is hit a 0 and their loan able funds go up by 10x.

  3. interesting subject good topic ..this would make a great company if it would behave itself herself that's my opinion

  4. So with interest rates on loans so anemic how do you make that much profit on that amount of "business". hmmmmmm could the terrorist and drug money laundering business have something to do with it?

    Madoff was a small fish by comparison to the Global Ponzi Scheme known as banking. Fractional Reserve Banking is by definition a Ponzi scheme supported by governments.

    incidentally Silver keeps ratcheting up and Gold is holding most of its gains.

    If you are wealthy and are running out of illegal places to hide your money, like Panama, you can either by real estate in a depressed market that could easily collapse again tomorrow and owe a large tax bill every year or start stashing your money in Gold, Silver, Platinum, Palladium, and other physical assets that are taxed only once but first you have to own the mines so you can control production and hence price to keep your current stash of physical metal at a minimum value of what you paid.

    I think the process if using paper Gold and Silver to force mines into near or actual bankruptcy so they can be bought up cheap with fake paper and digital currency has peaked and it's time to let the metals rise.

    This makes complete sense when you realize all currencies are smoke and mirrors and not real world assets and can lose a large chunk of value in a matter of days.

    Which is probably what is coming as soon as the next corporate stooge is installed as president so they can continue the New World Order agenda started under Bush 41. The controlled collapse of the US Dollar as the world reserve currency and thus reduce our influence in the world.

    Just a thought.

  5. So with interest rates on loans so anemic how do you make that much profit on that amount of "business". hmmmmmm could the terrorist and drug money laundering business have something to do with it?

    Madoff was a small fish by comparison to the Global Ponzi Scheme known as banking. Fractional Reserve Banking is by definition a Ponzi scheme supported by governments.

    incidentally Silver keeps ratcheting up and Gold is holding most of its gains.

    If you are wealthy and are running out of illegal places to hide your money, like Panama, you can either by real estate in a depressed market that could easily collapse again tomorrow and owe a large tax bill every year or start stashing your money in Gold, Silver, Platinum, Palladium, and other physical assets that are taxed only once but first you have to own the mines so you can control production and hence price to keep your current stash of physical metal at a minimum value of what you paid.

    I think the process if using paper Gold and Silver to force mines into near or actual bankruptcy so they can be bought up cheap with fake paper and digital currency has peaked and it's time to let the metals rise.

    This makes complete sense when you realize all currencies are smoke and mirrors and not real world assets and can lose a large chunk of value in a matter of days.

    Which is probably what is coming as soon as the next corporate stooge is installed as president so they can continue the New World Order agenda started under Bush 41. The controlled collapse of the US Dollar as the world reserve currency and thus reduce our influence in the world.

    Just a thought.

  6. very good information. It helped me understand the bigger picture and the culture of that bank. I really do believe that governments are just showboating when they fine these institutions. They are all in bed together. There is a status quo that are very powerful and I don't think that for one minute they could remain this way by allowing the invisible hand to control their fortunes. Do you?

    Also we know that bohemian grove is a real satanic place where many important polices and laws and leaders are made. As Mark Twain once said, "If voting changed anything they would not let us do it".

  7. Interestingly, there seems to be a trend that russian, european and asian businesses, and now banks, are under heavily surveilance, and are taken to court and fined for everything these days by the american and the IMF guys. And the fines goes to the investigators ofc.^^
    Tax heavens are now being scrutinized and comes to an end, helped by anonymous "leaks" and the press.

    And, oh my, it all seems to correspond with the desire for the US to be the new tax heaven and "safe heaven".. and screw everyone else.

    Are we seeing a final "goodbye and a thanks for nothing" from our former allies?
    Didnt Europe "perform well enough" with Russia and Iran? Didnt we import enough muslims according to the saudis?^^
    Is this the final stages of "save yourself"; Live and let die?

    I dont really blame the US. I rather live there then in the s#@thole we are making of ourselves here in europe. Especially if Trump becomes president. Then i go to live there in a heartbeat. Well, after the manipulated civil unrest ofc.

  8. I suspect the big banks just regard fines as a cost of doing business. Individuals within the banks will continue to act in a criminal way provided they don't get prosecuted and they continue to receive bonuses. For the regulators, agreeing an out of court settlement is a reasonable way to avoid the uncertainty of a court decision and keep costs down, but if they proceed to take legal action against banks, I think they should prosecute individuals as well. The fact that they typically don't indicates that governments don't really want the banks to stop, because the fines are a handy source of revenue. A game changer might be a big American class-action suit for damages for price manipulation on behalf of investors who have lost money on precious metal positions.

  9. Your last two videos have confirmed what so many people thought all along but not to this degree. Are there any honest banks left ? The sheer number of actions being taken against these banks is staggering and at the same time very disheartening.  I am a very small fish, but with that said my exposure to banks in general is very limited,  just enough to move the monthly bills around for the most part. Logic dictates that a long hard look at the big American banks will find even more than we already know. One has to ask how can we fix this? Is there a solution?  In future i would like it if you would do a video on the Canadian banking system.

  10. Interesting closing statement. Bankers don't go to jail since civil lawsuits are filed against them, rather than criminal lawsuits which require far more evidence. Seems to me it's a little of both. If anyone has such evidence, they are suicided or murdered. And those who benefit, govt in collusion with banks, are only fined and soon back in business. And who gets the fines? The govt? If so, then this is an efficient monetary revolving door that stays within the club.

  11. Numerous criminal acts by the banks, they get fined – that's the cost of doing their shady business. Unless governments start holding individuals responsible and enforcing criminal penalties, the system will continue until the people put a stop to it. Hang a few bankers from trees and they will be much more receptive to government oversight and regulation.

  12. with respect, this is an entirely naive analysis, concentrating on few "high" fines, which are a drop in the ocean in terms of historical revenues. read eg. confessions of that hitguy, perkins, and you might get a better idea how much money laundering was done by the US govt, and they just picked off shore banks where possible. etc. i find these analysis really shallow, and way too parsimonious. I will give it few more weeks to see if it gets more interesting and then drop this channel. title annoys me anyway. i mean, you pick on a fee banks and call yourself illuminati: even the illuminati don't call themselves that.

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