Second major banking crash imminent hsbc bankDocument Transcript
Second Major Banking Crash
Imminent : HSBC Bank
Saturday, January 25, 2014 8:45
(Before It's News)
By Susan Duclos
Recent HSBC Bank actions are fueling concerns about a second imminent
bank crash after they started restricting cash withdrawals from
customers‟ own bank accounts by informing them they had to provide
proof of what they intended to use their own money for.
According a report by the BBC‟s MoneyBoxProgramme, HSBC customers have gone to withdraw
cash from their accounts, only to find HSBC would not release the funds. Customers were told
to make a bank transfer instead, unless they provided documentation proving the intended
use of the money. Stephen Cotton attempted a withdrawal and told the programme:
“When we presented them with the withdrawal slip, they declined to give us the money
because we could not provide them with a satisfactory explanation for what the money was
for. They wanted a letter from the person involved.”
Mr Cotton says the staff refused to tell him how much he could have: “So I wrote out a few
slips. I said, „Can I have £5,000?‟ They said no. I said, „Can I have £4,000?‟ They said no. And
then I wrote one out for £3,000 and they said, „OK, we‟ll give you that.‟ “
According to the article over at IACKNOWLEDGE, the major banks and
states are preparing for a major crash as they buy up as much gold
reserve as they can, indicating currency is at an all-time low.
Read there rest HERE.
HSBC Bank on Verge of Collapse: Second
Major Banking Crash Imminent
January 25, 2014
Class Warfare Exists
Concerns about an imminent bank crash were further fuelled today at news that HSBC are
restricting the amount of cash that customers can withdraw from their own bank accounts.
Customers were told that without proof of the intended use of their own money, HSBC would
refuse to release it. This, and other worrying signs point to a possible financial crash in the near
HSBC is scrambling to manage a seemingly terminal liquidity crisis (a lack of hard cash) that
could see the bank become the next Northern Rock – and trigger a bank crash. The analyst‟s
advice is for shareholders to sell HSBC investments, and customers to move their accounts
elsewhere before the crash.
This from the Telegraph:
Forensic Asia on Tuesday began its coverage of Britain‟s largest banking group with a „sell‟
recommendation, warning the lender had between $63.6bn (£38.7bn) and $92.3bn of
“questionable assets” on its balance sheet, ranging from loan loss reserves and accrued interest
to deferred tax assets, defined benefit pension schemes and opaque Level 3 assets.
According a report by the BBC‟s MoneyBoxProgramme, HSBC customers have gone to
withdraw cash from their accounts, only to find HSBC would not release the funds. Customers
were told to make a bank transfer instead, unless they provided documentation proving the
intended use of the money. Stephen Cotton attempted a withdrawal and told the programme:
“When we presented them with the withdrawal slip, they declined to give us the money because
we could not provide them with a satisfactory explanation for what the money was for. They
wanted a letter from the person involved.”
Mr Cotton says the staff refused to tell him how much he could have: “So I wrote out a few slips.
I said, „Can I have £5,000?‟ They said no. I said, „Can I have £4,000?‟ They said no. And then I
wrote one out for £3,000 and they said, „OK, we‟ll give you that.‟ “
He asked if he could return later that day to withdraw another £3,000, but he was told he could
not do the same thing twice in one day.
As this was not a change to the Terms and Conditions of your bank account we had no need to
pre-notify customers of the change”
He wrote to complain to HSBC about the new rules and also that he had not been informed of
The bank said it did not have to tell him. “As this was not a change to the Terms and Conditions
of your bank account, we had no need to pre-notify customers of the change,” HSBC wrote.
Mr Cotton is not alone, with other customers seeking to withdraw cash amounts over £3,000
facing the same obstacles. While HSBC argue there is comes customer security interest here, the
story simply doesn‟t add up. Customer identification is required for large withdrawals, not
customer intentions – a person‟s cash is theirs to withdraw and place wherever they so wish.
Instead, HSBC has been found to have a capitalization black hole (gap between actual cash and
obligations) of $80bn. The message is simple, get your money out now.
The Gold Rush
The major banks and states appear to be preparing for impending crisis, while pretending to the
public that the economic situation is improving.
There is a gold rush underway, with Banks and States frantically buying up as much gold reserve
as they can, stoking fears that confidence in currency is at an all-time low. In recent months and
weeks, banks like HSBC and JP Morgan, and states such as the US, Germany and China have
joined the gold rush, making vast purchases of stocks.
Investment analysts at Seeking Alpha have been monitoring the strange activity on the COMEX,
“keeping track of COMEX inventories is something that is recommended for all serious
investors who own physical gold and the gold ETFs (SPDR Gold Shares (GLD), PHYS, and
CEF) because any abnormal inventory declines may signify extraordinary events behind the
Another Bank Crash? Why?
The crash is in some 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
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
This is why answering the issues with our currencies, our banking practices and economic
system are not theoretical or academic – they are a matter of our very survival.
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It Has Begun: “The World Is Utterly
Unprepared For What Is About To
Saturday, January 25, 2014 0:06
(Before It's News)
I’ve been watching CNBC on and off today. You can hear the fear in
their voices. As I type these words the Dow is down 244.
Our nation is reaping the direct consequence of the genocide of 56
million innocent human beings. Did anyone seriously believe that America
could skate away scot-free from this horrendous crime against humanity
God? God will not be mocked. What we are now witnessing is the
of the end. As I stated in my previous e-mail to you this morning–”IT HAS
BEGUN…”–the world is utterly unprepared for what is about to happen.
Even the “preppers” will be stunned. And I reiterate that the sun will do
something “massive” in the first week of February.
Again, you could hear the fear in their voices on CNBC. Even as I
type these words, their commentators are poo-pooing today’s fall.
Steve, next week will be pretty much the final week for people to
stock up on food gasoline, etc. Once we have entered February, God will
unleash His full wrath upon this unrepentent, wicked world. It is time for
those of us who have accepted Jesus Christ as our Lord and Saviour to go
our knees and pray, pray, pray.
It has begun…Praise God!
Sincerely yours in Christ,
Jan 24, 2014