“HSBC still World’s biggest Dope bank”?

Former Hong Kong & Shanghai Bank – Nagasaki Branch (now Museum) / Wikimedia

“The Hongkong and Shanghai Banking Corporation (now HSBC) was the central bank for the British Empire’s Opium War and never stopped laundering drug money”

“The study makes clear that, while many other banks may be engaged in similar practices, it appears that HSBC facilitates money laundering on a global scale that vastly surpasses other banks.” – LaRouchePAC  (1)

Continue reading

JPM Chase under Federal criminal investigation?

Image by Simon Howden / Wiki Commons *

“By late afternoon on July 12 Reuters was reporting, from anonymous sources, that JPM Chase was under Federal criminal investigation.” LaRouchePAC (1)

The sequence of financial scandals must be noted. It is difficult to discern exactly the forces behind the sequence of cases, but the chain of dominos on effects is intense and blatant. This chain will continue until a systemic collapse is visible to expert and commoner alike. The LIBOR scandal is the latest link in the chain. The corruption channel is full. The exposure is glaring. The fan to distribute shame is revved up. The scandal is widening.  The pressure is mounting. The bankers have never been on the defensive this much for alleged corruption, accused corruption, and admitted corruption. Their most vulnerable points are under attack.”

“The events will continue to occur in a sequence, probably managed much more than we are told. My suspicion is a new sheriff is in town, who stepped off a jetplane a few months ago from an Eastern location.”  –  Jim Willie (2)

Continue reading

Eric Sprott: About to launch a New kind of Bank

Eric Sprott, by Silver Circle Movie / flickr.com *

“In Canada, where the banking industry poses relatively little systemic risk, a different solution is now in play. Partnering with the asset management company founded by Toronto billionaire Eric Sprott, Continental Currency Exchange—the largest independently owned retailer of foreign exchange in Canada—is out to create a zero-risk option.”

The “Continental Bank of Canada would remain an unlevered and overcapitalized financial institution, something that isn’t offered by today’s financial services market.”

“Canada’s banks are watching with interest.”  

Thomas Watson

Continue reading

Libya All About Oil, Or Central Banking?

Central Bank of Libya in Tripoli / Wikimedia Commons*

taking down the Central Bank of Libya (CBL) may not appear in the speeches of Obama, Cameron and Sarkozy but this is certainly at the top of the globalist agenda”     Ellen Brown

Continue reading

Is The Next Domino To Fall…. Canada?

Tyler Durden's picture

Submitted by Tyler Durden on 08/18/2011 15:25 -0400
Zero Hedge

Michelle Meiklejohn / FreeDigitalPhotos.net*

While two short months ago, “nobody” had any idea that Italy’s banks were on the verge of insolvency, despite that the information was staring them in the face (or was being explicitly cautioned at by Zero Hedge days before Italian CDS blew out and Intesa became the whipping boy of the evil shorts), by now this is common knowledge and is the direct reason for why the FTSE MIB has two choices on a daily basis: break… or halt constituent stocks indefinitely. That this weakness is now spreading to France and other European countries is also all too clear. After all, if one were to be told that a bank has a Tangible Common Equity ratio of under 2%, the logical response would be that said bank is a goner. Yet both Credit Agricole and Deutsche Bank are precisely there (1.41% and 1.92% respectively), and both happen to have total “assets” which amount to roughly the size of their host country GDPs, ergo why Europe can not allow its insolvent banks to face reality or the world would end (at least in the immortal stuttered words of one Hank Paulson). So yes, we know that both French and soon German CDS will be far, far wider as the idiotic market finally grasps what we have been saying for two years: that you can’t have your cake and eat it, or said otherwise, that when you onboard corporate risk to the sovereign, someone has to pay the piper. Yet there is one place where that has not happened so far; there is one place that has been very much insulated from the whipping of the market, and one place where banks are potentially in just as bad a shape as anywhere else in Europe. That place is…. Canada. Continue reading