The NOT so mighty Dollar will soon perish( How soon, could be years, but will happen). Our. If we can see how giant this bubble is, don't you think the people in Hong Kong can? Citigroup and HSBC Securities both expect an increase in central bank gold purchases next year after a drop-off in 2020. And that curve is very flat right now, and very low. And if you peg your currency to the dollar, or whatever currency you're pegging to, you have to also adopt that country's yield curve. The 59-year-old was involved in a collision which shut the motorway for more than eight hours. Hong Kong is the number one revenue source by far. That is exactly why Ireland and Iceland and those other countries in the EU collapsed back in 2011, after the global financial crisis. And this time around Kyle Bass things the Hong Kong collapse is going to take down HSBC as well. The private credit in the Hong Kong system relative to GDP is over 300%. HSBC sends some staff home at Canary Wharf; ... 2020. They say, “Oh, Hong Kong mortgages. And Hong Kong’s real estate market is even worse. HSBC has said it will axe around 35,000 jobs as it announced profits for 2019 fell by about a third. That would create more demand for the Hong Kong dollar, which would keep it closer to this peg. London-based bank on mission to cut £3.5 billion in costs by 2022. I couldn't fit half of them up on this board. So I think when you think back to the US financial crisis, our financial markets, and specifically, our credit and mortgage markets collapsed in mid-2007. Sometimes they’ll include recommendations for other related newsletters or services we offer. Global Finance … And when I say they, I mean the Hong Kong monetary authority, they're like the central bank. That creates more supply for Hong Kong dollars, more demand for USD. Definitely not a chart where you want to be number one. They like to keep the range. Welcome to DOSBODS ... HSBC is funding most of its uk lending with fixed rate, fixed term bonds sold to chinese. Especially considering Hong Kong accounts for 32% of HSBC's revenue!! HSBC plans to drive customers to mobile in cost-cutting move. The NOT so mighty Dollar will soon perish( How soon, could be years, but will happen). He said: “Nothing can be done to clean up the City of London. HSBC is going to be one of the first banks to fail and collapse. HSBC said nine in 10 contacts with customers now happen over the phone, via the internet or on its smartphone app, with the number of customers who use a branch falling by a third in the last five years. HSBC enterprise clients say they've been left at midnight about bounce-back mortgage purposes Small companies say HSBC is pushing them to the brink of collapse due to the time it's taking to approve bounce-back loans. © 2020 George Gammon | All rights reserved. Especially considering Hong Kong accounts for 32% of HSBC's revenue!! A Must Watch Pre-Election Top-Down Analysis For Investors From Lyn Alden and George Gammon. It is understood that the collapse of the deal is partly linked to the administration of Arcadia Group, which is the biggest operator of concessions in Debenhams stores. Investor. Not only because the interest rates are going up from such a low base, but because they have so much debt in their system, going back to step number one. The UK -EU negotiations keep going on. When you login first time using a Social Login button, we collect your account public profile information shared by Social Login provider, based on your privacy settings. Today we are one of the world’s largest banking and financial services organisations. HSBC has cut a number of top management roles in its investment bank, a sign that CEO Noel Quinn is pressing on with plans to shake up the group despite having put a … And in the next two years, they refi the developers out, and then they have a 50% LTV loan.”. The announcement comes as customers turn to other forms of banking, making them less reliant on using a branch, the bank said. This is the banking relative to GDP for different countries. As an employee, I can assure you this. In Conclusion, Kyle Bass thinks HSBC will go into crisis mode in 2020. Updated at 4.10pm EST. He called the US banking crisis in 2008 and now he's calling for a Hong Kong banking crisis in 2020, specifically HSBC! Kyle: HSBC say all of 275,000 payments missed in computer meltdown are now processed. — Manners Residential (@MannersWoking) January 9, 2020. More on that later. Its role in the $80m (£62m) fraud is detailed in a leak of documents - banks' "suspicious activity reports" - that have been called the FinCEN Files. HSBC was born from one simple idea – a local bank serving international needs. I think Investors that have assets invested there should immediately move them into USD before it’s too late. This is what I call having all your eggs in one basket. Over these first six months of 2020, HSBC saw strong performance in mainland China, with the profit from there up around about 29%. I said, “But what if prices go down?” It's all, “Yeah, prices don't go down.” And literally, I'm hearing this again. HSBC today announced two leadership appointments in its Wealth and Personal Banking (WPB) business, which covers the full spectrum of wealth and banking needs, from retail customers to ultra-high net worth clients. And let me remind you that our interest rates spiked a lot less than Hong Kong's would, and our banking system relative to GDP was around a hundred percent. HSBC is obviously going through a difficult period. We've got to go over the numbers. They try to keep the peg 7.75 to 7.85 Hong Kong dollars per one United States dollar. By far Asia’s biggest financial hub, servicing not just China but many other Asian markets, Hong Kong accounted for 60% of HSBC’s global pretax income in 2019. Britain's biggest bank moved the money through its US business to HSBC accounts in Hong Kong in 2013 and 2014. A final determination on whether to pay a conservative dividend for 2020 is expected to be made and communicated in February 2021 with our 2020 full-year results. Well, I don't know. HSBC's revenue since 2015 has gone down by $6 billion. Posted at 12:10 17 Jun 2020 12:10 17 Jun 2020 HSBC to press on with 35,000 job cuts The bank announced the plan in February but put it on hold amid the coronavirus pandemic. The HSBC Everyday Global Account was awarded the Canstar 5-Star Rating for Outstanding Value – Travel Debit Card in September 2018/2019/2020 and Outstanding Value – Transaction Account April/Oct 2020, the Finder Award for 'Best Transaction Account' September 2020 and the Canstar Bank of the Year - Everyday Banking 2020 award. 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I will provide you some facts to assure you regarding this. 19 September 2020 • 9:30pm ... that the market has priced as worse for HSBC than a potential collapse of the global financial system. Kyle Bass Predicts HSBC Collapse In 2020! The move came as the bank's net profit plunged 53% last year. HSBC is … Entrepreneur. Today I’m releasing our views on the financial, political, and legal plight of Hong Kong. And you'll see that they mirror the interest rates in the United States. So in the first year,” this is a partner at one of the biggest firms in the world tells me this, that runs the real estate business. Real Estate Expert. Over these first six months of 2020, HSBC saw strong performance in mainland China, with the profit from there up around about 29%. HSBC is going to be one of the first banks to fail and collapse. News Release - 8 September 2020. HSBC has said it will close 27 stores across the country in 2020. You may be asking yourself, “My gosh, George, how did their debt problem and their housing bubble get so out of hand?”. Macro Addict. So where is Hong Kong's banking system relative to GDP, right now? Going to uni Life events. Throw in mainland China and it … Kyle Bass Predicts HSBC Collapse In 2020! The retailer said it would move ahead with plans to close its 124 UK stores unless a new buyer comes forward. How The Government Can Steal Your Money Through Inflation! But what you might not know is that most of the interest rates, especially on the mortgages, are adjustable and they're not just adjustable in the way we think of ARMs or adjustable-rate mortgages. There are so many charts that point this out. HSBC system failure meant businesses unable to pay staff and … HSBC’s headquarters may be based in London but it’s in Hong Kong where the lion’s share of its money is made. HSBC has cut a number of top management roles in its investment bank, a sign that CEO Noel Quinn is pressing on with plans to shake up the group despite having put a … ... Goldman Sachs projects that G.D.P. They go into the FX market and they buy Hong Kong dollars by selling USD. ... And this time around Kyle Bass things the Hong Kong collapse is going to take down HSBC as well. When they diverge it creates massive structural problems that usually end in collapse. During an economic collapse, major shortages and supply chain problems are highly likely, making these types of supplies one of your most important pre-collapse considerations. HSBC Bank is not that weak to worry about what will happen if it collapses. HSBC has declined to comment on the situation. China is going to make HSBC pay dearly and make them feel more horrible about being in China. If the Hong Kong dollar starts to get too strong, meaning at the bottom of this range, the Hong Kong monetary authority has to sell Hong Kong dollars into the FX markets. Iran is closer 'than ever before' to regime collapse, says former Obama security advisor Published Mon, Jan 13 2020 11:51 AM EST Updated Mon, Jan 13 2020 … According to Bass, a peg only works if the economies of the two sovereigns are aligned. The bank said that 46 jobs are at risk in 10 of the named branches, staff at the remaining branches will be moved to nearby sites. 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Most of the European banks are yet to recover fully after 2008–09. HSBC bankrupt and on the brink of collapse? This is a chart of interest rates in Hong Kong from 2000-2020. Remember, Hong Kong is married to the US yield curve. Terms & Conditions - Privacy Policy, Rebel Capitalist Pro – Private Investors Forum, Free Online Training with Robert Kiyosaki, Free Ebook – Pandemic Investing with Jason Hartman. If you've been affected by the Flybe collapse, you can find out how to raise a dispute here. HSBC’s headquarters may be based in London but it’s in Hong Kong where the lion’s share of its money is made. So because of this, Cerveza sickness, that is also going to create a lot more supply for Hong Kong dollars if there's a capital flight leaving Hong Kong. Rona Fairhead, a former director of HSBC, was also chair of the BBC Trust and is currently a member of the House of Lords. “And the first year they refi their family out. Clients can access their HSBC accounts through online banking and mobile banking apps. Ireland got even worse than that a year or so later and Cyprus in 2011, 2012, got up near 850% of its GDP. When a recession comes around, it will spell disaster for HSBC. 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