Search Results for: hsbc

Banking scandal: how document trail reveals global scam

banking scandal how document tray reveals global scam

It’s not a comfortable weekend for the men heading some of the world’s biggest banks. Barclays has already been hit by a £290m fine for rigging interest rates but that could be dwarfed by a series of global lawsuits which could cost banks billions. The interest rate rigging scandal that …

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Swiss open major bank probe into precious metals market rigging

Precious metals gold

The Swiss competition regulator has opened an investigation into possible collusion in the precious metals market by several major banks, it said on Monday, the latest in a string of manipulation probes. Switzerland’s WEKO watchdog said its investigation, the result of a preliminary probe, was looking at whether UBS, Julius …

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China opens up $4.2 trillion stock market

Chinese stock exchange Hong Kong

The Chinese mainland is now open for business, at least in terms of its $4.2 trillion capital market. The Shanghai and Hong Kong stock exchanges are now linked giving foreign investors access to the tightly-controlled Chinese capital markets. Stock Connect debuted on November 17, and for the first time, stocks …

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Major banks under investigation for ties to Mexican drug cartels

Charles Schwab Corp. founder and chairman Chuck Schwab

Federal regulators in the United States are reportedly investigation no fewer than two major American banks with regards to their relationships with clients believed to be tied to Mexican drug cartels. Reuters reported exclusively on Wednesday this week that the US Securities and Exchange Commission is probing both Charles Schwab …

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Third banker commits suicide this week

Mike Dueker

Mike Dueker chief economist at Russell Investments A third banker has committed suicide within the space of a week, once again prompting speculation that some kind of financial collapse could be just around the corner. “Mike Dueker, the chief economist at Russell Investments, was found dead at the side of …

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Deutsche Bank admits to silver market rigging

Deutsche Bank silver fixing statues

Back in July of 2014, we reported that in an attempt to obtain if not compensation, then at least confirmation of bank manipulation in the precious metals industry, a group of silver bullion banks including Deutsche Bank, Bank of Nova Scotia and HSBC (later UBS was also added to the defendants) …

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The life and crimes of Eric Holder

Eric Holder

The announcement of U.S. Attorney General Eric Holder’s resignation today has fueled speculation as to why the controversial figure has chosen to step down. Holder, who was recently found to be the least popular politician in the United States according to a Hart Research poll, is arguably the most criminal government official …

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Harvard Economist fears bank runs are coming very soon

Bank run

Former Harvard Professor of Economics Terry Burnham fears starting a “run” on Bank of America after he made public his decision to withdraw $1 million dollars from his checking account as a protest against Janet Yellen beginning her term as Federal Reserve head this month. In an article for PBS …

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Paper silver contracts are being dumped on the market

Paper silver contracts

Recently I spoke with author and economic analyst John Sneisen about the astonishing breaking story that half of the daily global silver production was dumped in a matter of minutes. A massive sell-off of paper contracts! The culprits appear to be unknown but it has resulted in a 4% fall …

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UBS given immunity in precious metals manipulation probe

UBS precious metals manipulation

UBS Group AG won immunity from criminal fraud charges in a Justice Department investigation into misconduct in the trading of precious metals. The Swiss bank’s main UBS AG unit won’t be charged by the department’s criminal division for information the firm disclosed to prosecutors about precious-metals transactions, according to the …

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Japan overtakes China as largest US debt holder

Japan markets

Japan now officially holds more US debt than China, which has been America’s major creditor since 2008. In February Japan held $1.224 trillion in US government bonds compared to China’s $1.223 trillion. Both countries reduced their US debt investment, with China reducing its by $15.4 billion, and Japan by $14.2 …

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French bank to pay $8.8 billion for violating US sanctions

BNP Paribas

French banking giant BNP Paribas has agreed to plead guilty to two criminal charges of violating US sanctions, and will pay a record-breaking $8.8 billion settlement. Prosecutors allege BNP conducted “long-term, multi-jurisdictional conspiracy.” A lawyer representing the bank appeared in New York state court on Monday to answer for both charges, reports …

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JP Morgan silver probe dead in the water, CFTC sides with the bankers

crash jp morgan buy silver

Two weeks after Bart Chilton, a member of the U.S. Commodity Futures Trading Commission, said that “I am hopeful and expect the silver investigation to conclude in the not-too-distant future, hopefully in September or October…It has already taken far too long,” the probe by the CFTC into silver price manipulation is coming …

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Fintech Boom in the United Kingdom Despite Brexit Worries

The ravages of a Brexit have failed to dissuade investors from plowing money into the UK’s burgeoning FinTech sector. Foreign investment levels in the United Kingdom’s FinTech arena are soaring, in spite of the exodus of European Union migrant workers, and lower levels of net migration into the UK. British …

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Silver supply is struggling to keep up with demand

Silver 999

From Filip Karinja, for Birch Gold Group In the past few weeks and months, the price of silver has been hit relatively hard on the COMEX paper derivatives market. But oddly — or maybe not at all — the complete opposite is happening in the market for the metal in its …

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China to launch yuan gold fix by end of 2015

China gold shop yuan

China plans to launch a yuan-denominated gold fix by the end of 2015 via the Shanghai Gold Exchange (SGE), in a move aimed at giving the world’s biggest bullion producer and consumer more influence over pricing. The first public confirmation made by an exchange official comes after Reuters cited sources …

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