Tag Archives: HSBC

It’s Not a “Haircut” – It’s a 77% Beheading of Bank Depositors!

Large Depositors Now Decapitated to 77.5% of Savings!


E.U. “Stealth” Raid on Russian, Eastern European Wealth


The Long Reach of the E.U. Banksters To Grab up to 77.5% of Depositor’s Funds in Romania, Serbia, Ukraine, Malta, China, Russia

The thing to remember is that the Cyprus banks did business in many countries other than Cyprus.  The Bank of Cyprus has branches in the Ukraine, Romania, Russia, the UK, and the Channel Islands, as well as representatives in many other cities in the Eastern European area.  The people in those areas who thought they were outside of the EU bankster’s area of influence were wrong, as they are finding out, much to their distress.  Their deposits will lose, just like the people who actually live in Cyprus.

The Laiki Bank, or Cyprus Popular Bank, the second largest in Cyprus, was turned into a “bad” bank by the EU who illegally and fraudulently seized the bank. Laiki was stuck with all the bad Greek Bonds, derivative and other similar debt.  The accounts under 100,000 euros were moved to the Bank of Cyprus, while those accounts over 100,000 euros were held in the “bad” bank and readied for the guillotine, and what now is reported by the N.Y. Times, a 77.5% beheading, converting their cash money into frozen shares, or “equity” that cannot be sold for years or maybe never.

Phoney propaganda reports in the U.S. press tried to convince readers that the people getting screwed were a bunch of foreign mobsters – mainly Russian mobsters who were “hiding” vast amounts of money in these “secret” Cyprus Banks.  Let’s take a look at the reality of this and a short history of the Laiki Bank that has been eviscerated by the EU Banksters.

The Laiki Bank started in 1901 in Cyprus.  We are not going to go through every moment of their history, just the highlights that bear on this article.  But this is not a “newcomer”, it is a very old bank and was certainly respected in many places in the world.  In 1972, the Hong Kong Bank, one of the largest banking groups in the world, thought enough of Laiki to acquire 21.16% of the Bank.  They held this all the way until 2006 when the HSBC, the successor to Hong Kong Bank, sold their shares.

In 1983, Laiki Bank bought Grindlays Bank, the oldest and largest foreign bank in Cyprus and the third largest bank there.  In 1992 they opened their first European office in Athens, paving the way for expansion.  By 1995 they were opening offices in South Africa and Canada, and 1997 saw expansion into Yugoslavia and Russia.  In 2001, they opened 5 Branches in Australia; in 2005 they expanded to the Channel Islands and bought the CentroBanko in Serbia. 2007 saw expansion to the Ukraine, Malta and Russia; 2011 saw an office in Beijing, China and investment from major banks and big investors.  In fact, the Marfin group pumped in a huge 488.2 million euros in 2011.

The bottom line is that this was a world-class operation, a bank operating around the world, with 439 branches and with 8,464 staff servicing one million three hundred fifty thousand customers.  So much for the phoney news from mainstream American media that it was just a few Russian mobsters that got clipped in this operation.  No, it was people from Australia, China, Serbia, Greece, Ukraine, Romania, Malta and other countries who are getting thrown under the bus.  The burgeoning business communities in the former “Eastern Block”, the up and coming middle class around the world, these are the true victims of this complete scam perpetrated by the Central Bankers of Europe and their partners, the world-wide net of operatives from banks like Goldman Sachs.This is the legacy of the Banksters who are now feasting on the deposits of innocent people around the world like a pack of wild jackals tearing apart an antelope on the plains of Africa.

HSBC Too Big To Fail?

Glenn Greenwald Exposes Two-Tiered U.S. Justice System

Banksters Are “Too Big To Indict” and are Protected By The Obama Administration While the Poor and Middle Class Suffer Enormous Repression.

Here’s The Number One Protector of U.S. Banksters:  Assistant Attorney General Lanny Breuer, Exposed by Frontline’s Story on “The Untouchables”, Now Protects HSBC Criminals From Jail.  Breuer Should Resign In Disgrace.

Lanny Breuer, HSBC

The US is the world’s largest prison state, imprisoning more of its citizens than any nation on earth, both in absolute numbers and proportionally. It imprisons people for longer periods of time, more mercilessly, and for more trivial transgressions than any nation in the west. This sprawling penal state has been constructed over decades, by both political parties, and it punishes the poor and racial minorities at overwhelmingly disproportionate rates.

But not everyone is subjected to that system of penal harshness. It all changes radically when the nation’s most powerful actors are caught breaking the law. With few exceptions, they are gifted not merely with leniency, but full-scale immunity from criminal punishment. Thus have the most egregious crimes of the last decade been fully shielded from prosecution when committed by those with the greatest political and economic power: the construction of a worldwide torture regime, spying on Americans’ communications without the warrants required by criminal law by government agencies and the telecom industry, an aggressive war launched on false pretenses, and massive, systemic financial fraud in the banking and credit industry that triggered the 2008 financial crisis.

Read More of This Blistering Story at Op-Ed News.

HSBC 60 TRILLION Money Laundering in 2010!!!

This just in from Richard Becker at Liberation News…

HSBC: Too big to indict

Money-laundering to the tune of $60 trillion in 2010

By Richard Becker

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Get a copy of “The Myth of Democracy and the Rule of the Banks” by Richard Becker

For a real jaw dropper, the lead paragraph of a Dec. 10 New York Times article would be hard to beat:

“State and federal authorities decided against indicting HSBC in a money-laundering case over concerns that criminal charges could jeopardize one of the world’s largest banks and ultimately destabilize the global financial system.”

So, there it is: The big banks, no matter how blatant their crimes, must be protected. They and their executives are free to steal, defraud and loot without fear of facing prison time.

Despite massive evidence that HSBC had been operating as a criminal enterprise, the Department of “Justice” opted for another slap-on-the-wrist fine.

Not that this is anything really new. Since their wild and often fraudulent schemes led to the bank crash and public bailout in 2008—and helped trigger the “Great Recession”—not one Wall Street bank executive has faced criminal prosecution for their crimes.

In lieu of any of their present or former executives being prosecuted, HSBC has admitted its guilt and agreed to pay $1.9 billion. That might sound like a lot of money but consider that the federal Office of the Comptroller of the Currency found that HSBC had $60 trillion in potentially illegal transactions in 2010.

To read more click here:  Liberation News