Silver as an investment

Category Archives: HSBC

Financial Times Survey: Banks’ Brexit Relocations By March 2019 Much Lower Than Feared

In the run-up to the recent agreement on phase I of Brexit, there was mixed news on the extent to which jobs in the City of London would be relocated to other European hubs, primarily Frankfurt. On one hand, we discussed the meeting between US Commerce Secretary, Wilbur Ross, and executives of JPM, Goldman, HSBC […]

Frontrunning: October 24

Corker Tells Trump to Stay Out of the Tax Debate (BBG) Food fight? After spats on Twitter, Trump’s having lunch with Senate Republicans (McClatchy) As ‘New Era’ Dawns, Xi’s Party Stays Out of the Sun (WSJ) China enshrines ‘Xi Jinping Thought’, key Xi ally to step down (Reuters) U.S. Set to Resume Admitting Refugees but […]

Here’s How Much Each HSBC Trader Made In Their FX Front-Running Scheme

Last week we wrote about how some former HSBC FX traders, led by Mark Johnson, orchestrated a carefully crafted plan to front-run a massive buy order for British Pounds using the code phrase “my watch is off.”  Now, courtesy of court filings in a British case to extradite one of the participants, Stuart Scott, we […]

HSBC traders used code word to trigger front-running, prosecutor says

gata.org / By Patricia Hurtado via Bloomberg News / October 6, 2017 A group of HSBC Holdings currency traders in London and New York feverishly jumped ahead of a $3.5 billion client order after they were tipped off using the code words “my watch is off,” a U.S. prosecutor told a federal judge. The buying frenzy […]

Frontrunning: July 31

HSBC, miners lift European shares as dollar holds near lows (Reuters) Republicans Face Tough Choice: Repeal Obamacare or Cut Taxes (BBG) Trump’s Decisions Deepen Divide Among Republicans (WSJ) Koch Brothers Move to Back White House’s Tax-Cut Plan (BBG) Maduro Waits for U.S. Response After Violent Venezuela Vote (BBG) OPEC Has a Crippling Problem: Its Members […]

Bill Blain: “There Is One Obvious Trigger That Could Lead To A Market Fall In The Second Half”

By Bill Blain of Mint Partners Politics – More Destabilizing Than You Think! “With comedy we can search for the profound…” Dark skies, torrential rain and thinking about putting the log-burner on.. Welcome to high-summer in England. Markets are thin and the crowds trying to clamber on the train were noticeably lighter this morning. (Actually, […]

HSBC Forced To Ban Bankers From Trading Stocks In Their Personal Accounts

HSBC has a shaky relationship with regulators.  Back in 2012, the bank admitted that it helped Mexican drug cartels launder money and did business with Iran and other sanctioned nations. To avoid charges, it signed a deferred prosecution agreement (DPA) with the U.S. Department of Justice which required it to improve its internal controls and […]

Banks “Gag” Analysts From Discussing Politics On Air

In what may be a welcome change to what is already an overly politically charged financial atmosphere, Reuters reports that major banks are cracking down on market analysts talking publicly about politics over concerns of appearing partial with HSBC going so far to take its main global currencies commentator off air in an intensification of […]

Canary In A Contained Coalmine? HSBC Crashes Most Since Crisis On ‘Surprise’ Revenue Plunge

zerohedge.com / by Tyler Durden / Feb 21, 2017 9:04 AM Just over 10 years ago, HSBC was the first canary in the world’s financial crisis coalmine to signal trouble ahead. Today’s 7% bloodbath in the banking behemoth is the biggest drop since the financial crisis after reporting fourth-quarter profit that missed estimates on a surprise drop in […]

National Post mocks gold manipulation without ever questioning a central bank

Be prepared for the next great transfer of wealth. Buy physical silver and storable food. gata.org / Barbara Shecter and Peter Koven via National Post, Toronto / May 27, 2016 All any journalist has to do is ask them about gold swaps and leases, but no one dares to do it: http://www.gata.org/node/16341 http://www.gata.org/node/12016 Shine Fades on Scotiabank’s Gold […]