HSBC imposes restrictions on large cash withdrawals BBC News ‎- 19 hours ago Some HSBC customers have found they cannot withdraw large sums of cash unless they can provide evidence to the bank about why they ... HSBC restricts large cash withdrawals without "proof" of purpose Bank-Run Fears Continue; HSBC Restricts Large Cash Withdrawals ... www.zerohedge.com/news/.../bank-run-fears-continue-hsb...‎ 1 day ago - Following research last week suggesting that HSBC has a major capital ... the liquidity crisis in China itself, news from The BBC that HSBC is ... Descrier‎ - 12 hours ago HSBC, Citi suspend forex traders HSBC Bank on Verge of Collapse: Second Major Banking Crash Imminent By Kerry-anne Another Bank Crash? Why? The crash is in come ways a replay of the last one. The US dollar is a fiat currency (as is the pound sterling, the euro and most other major currencies). This means, it is monopoly money. There is no gold reserve that its values are pegged to. It is simply made up. So how does money get made? A private, for profit central bank prints it and lends it to the government (or other banks) at an interest rate. So the Central Bank prints $100, and gives it to the government on the basis that it returns $101. You may have already spotted the first flaw in this process. The additional $1 can only ever come from the Central Bank. There is never enough money. The second issue is that all money is debt. This used to be the way pretty much all of the money in circulation came to be. That is, until Investment and Retail Banks got tired of this monopoly on debt based currency, and kicked off the commercial money supply. You might assume that when you take out a loan or other form of credit, a bank gives you that money from its reserves, and you then pay back that loan to the Bank at a given interest rate -- the Bank making its profit on the interest rate. You would be wrong. The Bank simply creates that loan on a computer screen. Let's say you are granted a loan for $100,000. The moment that loan is approved and $100k is entered on the computer -- that promise from you to the bank creates $100k for the bank, in that instant. This ledger entry alone creates the $100k, from nothing. Today, over 97% of all money that exists, is made this way. This is what drove the dodgy lending practises that created the last crisis. But since then, the failure to regulate the markets means that while bailouts hit public services and the real economy -- banks were free to continue the same behaviour, bringing the next crash. The world's second richest man, Warren Buffet warned us in 2003 that the derivatives market was 'devised by madmen' and a 'weapon of mass destruction' and we have only seen the first blast in this debt apocalypse. The news that should have us all worried is: the derivatives market contains $700trn of these debts yet to implode. Global GDP stands at $69.4trn a year. This means that (primarily) Wall Street and the City of London have run up phantom paper debts of more than ten times of the annual earnings of the entire planet. Not only can the Bankers not pay it back, the combined earning power of the earth could not pay it back in less than ten years if every last cent of our productive power went solely to pay off this debt. Following are the 150 U.S. financial institutions with the most deposits as of 31 Dec 2008 (in billions of U.S. dollars). For updated information, go to www.fdic.gov. Note: Click on the bank or credit union's name to go directly to their website. Source: American Banker, 2009. Rank Name Headquarters Deposits (billions) 1 JP Morgan Chase & Co. New York, NY $1,009 2 Bank of America Charlotte, NC $884 3 Wells Fargo San Francisco, CA $785 4 Citigroup New York, NY $774 5 PNC Financial Services Group Pittsburgh, PA $193 6 HSBC Holdings London $161 7 Bank of New York Mellon New York, NY $160 8 U.S. Bancorp Minneapolis, MN $159 9 SunTrust Bank Atlanta, GA $113 Support my brand of truth-seeking, freedom, revolution, personal transformation & collective awakening - please SUB http://youtube.com/subscription_center?add_user=MysterEy1 Make your voice heard, my videos are a discussion forum. (no censorship) Check our other channels at http://youtube.com/user/enternetglobal http://youtube.com/user/ http://youtube.com/user/ for more uploads from my co-producers EntertainmentGIANT est. '05

• published: 26 Jan 2014
• views: 22