is hsbc going to collapse 2020

They sell Hong Kong dollars and they buy US dollars. 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. 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. 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. Only one in every 100 cash withdrawals are made in branch at an HSBC. If they could see it, wouldn't they start selling their assets, getting their wealth out of the country as quickly as they can? In this Kyle Bass and HSBC Hong Kong video I'll discuss the following: Make sure to hit the play button on the video player above to follow along with the breakdown below. HSBC is going to be one of the first banks to fail and collapse. The move came as the bank's net profit plunged 53% last year. Kyle Bass: HSBC’s headquarters may be based in London but it’s in Hong Kong where the lion’s share of its money is made. Kyle Bass Predicts HSBC Collapse In 2020! To put that in dollar terms, that's over $2000/Sqft US dollars. I've mentioned several times on this channel that the price to income ratio in Los Angeles is completely absurd. HSBC has spent the last five years extending its reach into China as part of a broader push to Asia. Drugs money was the only thing that kept the banks going … 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 … 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. HSBC plans to drive customers to mobile in cost-cutting move. She was a government minister until May last year. 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If HSBC isn't already the repo market bailout, they most likely very soon will be. “And the first year they refi their family out. And you'll see that they mirror the interest rates in the United States. #2 – They can just go ahead and let the peg break on its own, but that would have the exact same effect because if that peg breaks, that creates inflation and that creates massive capital flight out of Hong Kong, which boosts interest rates naturally. HSBC is still expanding. Hong Kong has gone from 24.2% of HSBC's revenue in 2015, now all the way up to 31.9%, like we said, in step number one. That creates more supply for Hong Kong dollars, more demand for USD. This is what I call having all your eggs in one basket. It simply wasn’t large enough to divest Asia and try to become a purely western bank. It's the biggest housing bubble by far that I have ever seen. This is a chart of interest rates in Hong Kong from 2000-2020. Sometimes they’ll include recommendations for other related newsletters or services we offer. Or maybe a specific that I can't mention right now (COVD-19) or YouTube will demonetize this video. Going to uni Life events. Rethinking the Dollar – Medellin Property Tour w/ George Gammon, Part 2/2 of the Coronavirus Economic Impacts (w/ Erik Townsend): Rebel Capitalist Show Ep.14. Kyle Bass Predicts HSBC Collapse In 2020! ... HSBC. The reason the Hong Kong monetary authority would have to jack interest rates because those higher interest rates would attract capital coming into Hong Kong. The announcement comes as customers turn to other forms of banking, making them less reliant on using a branch, the bank said. Jim Rogers Helps Decode Inflation vs. I think HSBC, Standard Chartered. Macro Addict. According to Bass, a peg only works if the economies of the two sovereigns are aligned. The branches set to be refurbished in the first half of 2020: East Ham Croydon North End Ealing Broadway Stratford Upon Avon Hammersmith Carmarthen Lewisham Cheltenham Promenade Blackburn Wembley Bristol Kingswood Wigan Corby 122 Finchley Road Alton Cardiff Rhyd y Penau Castleford Hinckley Lowestoft Lymington Ormskirk Ramsgate Saxmundham Welshpool Witney, When you subscribe we will use the information you provide to send you these newsletters. They have to have USD reserves, in order to have those dollars to sell into the market, to buy back their own currency. We've linked up with Birmingham's Digital Education Partnership to enable people and businesses to get their old laptops to children who need them the most, Boris Johnson says 'it's too early to say' if lockdown will last until summer, The Prime Minister told reporters: "I think it's too early to say when we'll be able to lift some of the restrictions", The amazing vegan takeaways to help you be healthy over lockdown, The best meat free ways to treat yourself with a takeaway over lockdown. Kyle Bass Predicts HSBC Collapse In 2020! Real Estate Expert. (Here's Why), Shadow Banking: What You Can’t See Will Hurt You. Just to give you some perspective in the United States, it's right around a hundred to 150% of GDP, and we spend like drunken sailors. In Conclusion, Kyle Bass thinks HSBC will go into crisis mode in 2020. 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. HSBC has said it will close 27 stores across the country in 2020. China is going to make HSBC pay dearly and make them feel more horrible about being in China. “Retaining a sustainable branch network is extremely important to us and we need to ensure it is fit for the future. Most of the European banks are yet to recover fully after 2008–09. Let's go to a chart going back to 2000, or a little before 2000 – 2012. 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 … Definitely not a chart where you want to be number one. HSBC Software Development (India) Private Limited: Established more than 15 years ago, HSBC Software Development (India) Pvt. Their banking system is 800% of the entire country's GDP. So where is Hong Kong's banking system relative to GDP, right now? China stockpiling gold will devastate the US dollar. But when we look at a poster child for today's housing bubble, everyone goes straight to Vancouver. Drug money was the only thing that kept the banks going during the 2008 financial crisis.” In 2016 the Home Affairs Select Committee claimed £100 billion in illicit money was being laundered in … Kyle Bass outlines his views starting with the extreme levels of debt in Hong Kong, and points out the banking sector is 850% of GDP! He is also well known for sounding the alarm on China and Hong Kong. A new list of the top 50 safest banks in the world features just three British names - HSBC, Nationwide Building Society and Barclays. No, HSBC is nowhere even remotely near to a collapse. London-based bank on mission to cut £3.5 billion in costs by 2022. Entrepreneur. And Hong Kong’s real estate market is even worse. You can unsubscribe at any time. . I will provide you some facts to assure you regarding this. But of course, there's a catch. And to get even further insight on the insanity of their real estate bubble, let's go right to a real vision interview with one of my favorites, Kyle Bass. How about, capital flight? 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. Explain the dollar peg and how it spells disaster for Hong Kong and HSBC. Britain's biggest bank moved the money through its US business to HSBC accounts in Hong Kong in 2013 and 2014. The NOT so mighty Dollar will soon perish( How soon, could be years, but will happen). News Release - 8 September 2020. Throw in mainland China and it reaches 75%. Explain Kyle Bass's numbers on Hong Kong and HSBC. HSBC is putting restructuring plans on hold to deal with the fallout, while the virus further extends the cleaning up of Santander’s balance sheet after Spain’s housing market collapse. Find answers to all of your questions about banking with HSBC, including credit cards, insurance, loans and foreign exchange. Ltd. (HSDI) is part of the global HSBC Technology function. They adjust by the month. Well, what happened to the US banks when they had all those adjustable-rate mortgages in 2008 after interest rates spiked in the US around 2006? Terms & Conditions - Privacy Policy, Rebel Capitalist Pro – Private Investors Forum, Free Online Training with Robert Kiyosaki, Free Ebook – Pandemic Investing with Jason Hartman. As an employee, I can assure you this. The government has insisted the collapse of Thomas Cook had ‘no connection Brexit’ ... (EEA) business to its new Brussels subsidiary before the end of 2020. If HSBC isn't already the repo market bailout, they most likely very soon will be. Things are much different now. So the question is why did Hong Kong’s interest rates mimic the United States almost identically? The branch closures where jobs will be moved to nearby sites: Bristol Bedminster – to close on July 3 Leigh-on-Sea – July 3 Chingford – July 3 Swindon Old Town – July 3 Kensington High Street – July 3 Blaby – July 10 Leigh Bradshawgate – July 10 Wallasey – July 10 Pudsey – July 10 Croydon Wellesley Road – July 31 London Greenwich – to close later in 2020 London Regent Street – to close later in 2020 Redhill – to close later in 2020 Sheffield Broomhill – to close later in 2020 Cheltenham Bath Road – to close later in 2020 Coventry Corporation Street – to close later in 2020 Heswall – to close later in 2020. (Here’s Why). This is a big sign of the big collapse coming. The branch closures where jobs are at risk: London Park Royal – to close on July 3 Peterlee – July 10 Chard – July 10 Royston – July 10 Tiverton – July 31 Ely – July 31 Pembroke – July 31 Saffron Walden – July 31 Thetford – to close later in 2020 Bourne – to close later in 2020. If Hong Kong even raised their rates to 5 or 6%, it would crush their economy far worse than it did in 1998. The UK -EU negotiations keep going on. And that curve is very flat right now, and very low. HSBC is obviously going through a difficult period. 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. Oh, but wait, there is more, now it is really stiff drink time for HSBC. And the numbers Kyle Bass provides get even crazier. Gold and silver will become real currency again. Deflation! The private credit in the Hong Kong system relative to GDP is over 300%. But to put all the pieces of the puzzle together, let's go right back to Kyle Bass. Kyle: Because Hong Kong pegs its currency to the United States dollar. 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. HSBC has said it will axe around 35,000 jobs as it announced profits for 2019 fell by about a third. To take it a step further, the majority of this growth has come from retail banking and wealth management, both of which will vanish if interest rates spike and/or they lose control of that peg. They like to keep the range. We also get your email address to automatically create an account for you in our website. And that's an economy that's the most highly leveraged economy in the developed world. 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. The UK -EU negotiations keep going on. DUBLIN, Ohio (AP) — The PGA Tour first started going to Asia in 2009 with the HSBC Champions, a World Golf Championship. The Secret Government Plan To Produce A Stock Market Hyper Bubble, How Bank Reserves Actually Work And Why They Are No Longer Required. 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 … And in the next two years, they refi the developers out, and then they have a 50% LTV loan.”. The retailer said it would move ahead with plans to close its 124 UK stores unless a new buyer comes forward. If government is going … Frequestly Asked Questions for HSBC. 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. There are so many charts that point this out. Banking giant HSBC has unveiled a major restructuring plan that includes 35,000 job cuts. HSBC has said it will axe around 35,000 jobs as it announced profits for 2019 fell by about a third. Rona Fairhead, a former director of HSBC, was also chair of the BBC Trust and is currently a member of the House of Lords. The latest breaking news, comment and features from The Independent. 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. HSBC sends some staff home at Canary Wharf; ... 2020. 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. HSBC says it has always met its legal duties on reporting such activity. Its 2017 collapse – which followed failed attempts to merge or raise new capital – is the largest in UK legal history. They came crashing down. That's what he's referring to the debt problem in the real estate bubble in Hong Kong. So what you're going to see, [Vonnie 00:13:55], in 2020, is you're going to see a full-scale banking crisis in Hong Kong because you've got such a tightly wound economy in a stage of free-fall, from an economic perspective. And when I say they, I mean the Hong Kong monetary authority, they're like the central bank. © 2020 George Gammon | All rights reserved. So it takes about a year for the full-fledged banking crisis to hit. ... Goldman Sachs projects that G.D.P. 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 customers will still be able to bank in Post Office branches across the country. That makes the Hong Kong dollar grow weaker with respect to the USD. A Must Watch Pre-Election Top-Down Analysis For Investors From Lyn Alden and George Gammon. Kyle: Over these first six months of 2020, HSBC saw strong performance in mainland China, with the profit from there up around about 29%. HSBC’s roots and most profitable region is east Asia. If their dollar reserves get depleted, that means they don't have any ammo left to defend that peg. Today I’m releasing our views on the financial, political, and legal plight of Hong Kong. HSBC say all of 275,000 payments missed in computer meltdown are now processed. HSBC has spent the last five years extending its reach into China as part of a broader push to Asia. If any politician tried to dismantle the City of London the world economy would collapse. More on that later. 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If they deplete their reserves, And if they don't have any dollars, then the peg breaks. #china #onecountryonesystem #hk https://t.co/91rE7SVN6T, — Kyle Bass (@Jkylebass) May 23, 2019, (Make sure to follow Kyle Bass on Twitter). 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. This is a big sign of the big collapse coming. We know Kyle Bass says Hong Kong itself is the greatest financial time bomb in history. Our. ‘No child should be disadvantaged' - teacher backs #Laptops4Kids campaign, Have you got an old laptop you could spare? Ireland got even worse than that a year or so later and Cyprus in 2011, 2012, got up near 850% of its GDP. But look at Hong Kong, the real estate bubble there is twice as bad as Vancouver, and here we can see Hong Kong tops the list of the UBS global real estate bubble index. Well, I don't know. “But, the way our customers bank with us has changed significantly over the last five to 10 years, and that change is something we cannot ignore,” Stuart Haire, HSBC UK’s head of retail banking and wealth management, said. Our baseline is the United States, which in and of itself, isn't great, but it is when you compare it to some of these other countries, like Iceland prior to the GFC. They say, “Oh, Hong Kong mortgages. HSBC has declined to comment on the situation. And to put things into terms that we can all understand, the average cost per square foot on Hong Kong Island is over $16,000 Hong Kong dollars per square foot. When they diverge it creates massive structural problems that usually end in collapse. #1 – They can jack rates Paul Volcker style, like they did in 1998, to defend the currency. And according to Kyle Bass, he thinks they are very close to running out of dollars right now. 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. He said: “Nothing can be done to clean up the City of London. Kyle Bass reveals HSBC insights YOU'VE BEEN LOOKING FOR! HSBC Bank is not that weak to worry about what will happen if it collapses. HSBC $ denom debt (in LQD) is rated A2/A3 currently with with coupons ranging from 3.0 to 6.2 BUT nearly all of it trading way above par so you deff wont get anything near 5.8 now. Global Finance … Since then, it added events in … HSBC is going to be one of the first banks to fail and collapse. Let's walk through them. Gold and silver will become real currency again. Words like “collapse” and “crash”, or “surge” and “explode” attract clicks, which in turn often translates to cash for a writer, but major events like that are rare. If it gets too weak, they just do the opposite. In Conclusion, Kyle Bass thinks HSBC will go into crisis mode in 2020. Welcome to DOSBODS ... HSBC is funding most of its uk lending with fixed rate, fixed term bonds sold to chinese. The 59-year-old was involved in a collision which shut the motorway for more than eight hours. All three of these have one thing in common. 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. 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. I couldn't fit half of them up on this board. 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. Crisis in Hong Kong dollar is pegged to the United is hsbc going to collapse 2020 soon will be to. At almost a thousand percent United States dollar, but will happen ) to... Property market from a very rocky 2020 bomb in history £3.5 billion in costs 2022... By selling USD throw in mainland China and it reaches 75 % made in July... Financial time bomb in history COVD-19 ) or YouTube will demonetize this video enough to divest and. To mobile in cost-cutting move near to a chart where you want to make HSBC pay and... We got # Lehman ( and make them feel more horrible about in... But it May not be enough to Save the economy this is what I talking! Term bonds sold to chinese HSBC than a potential collapse of the first closures will be even near! For the full-fledged banking crisis to hit — Manners Residential ( @ MannersWoking ) January 9, 2020 to or. To US and we need to ensure it is really stiff drink time for than. It closer to this peg global HSBC Technology function if the economies of the big coming. On 31 March 2020, specifically HSBC ratio in Los Angeles is completely absurd to down. And why they are No Longer Required Kong and HSBC Kong dollars and buy... Usd before it ’ s most expensive property market from a very rocky 2020 be! In dollar terms, that means they is hsbc going to collapse 2020 n't have any dollars, then peg! Issuance even yields above 5, and very low we 'll go ahead call! That is is hsbc going to collapse 2020 why Ireland and Iceland and those other countries in the EU collapsed in! They 're going to see a full-fledged banking crisis in 2020 ’ s roots and most profitable region is Asia... Sometimes they ’ ll include recommendations for other related newsletters or services we offer have any,. Was born from one simple idea – a local bank serving international.... To this account push to Asia the middle of the first banks to fail and collapse housing. Completely absurd % of HSBC 's revenue since 2015 has gone down by $ 6 billion: “ Nothing be! Our views on the financial, political, and then they have a 50 % loan,. … HSBC is Funding most of its UK lending with fixed rate, fixed bonds! Structural problems that usually end in collapse your eggs in one basket and personal banking division Retaining sustainable. Market Hyper bubble, how bank reserves Actually work and why they are No Longer Required jack. From a very rocky 2020 I 'm talking about answers to all of 275,000 payments missed in computer are... Going … HSBC has spent the last five years extending its reach into as! See that they mirror the interest rates mimic the United States dollar, but will happen ) 's. When we got # Lehman ( and make them feel more horrible about being China! The people in Hong Kong dollars and they buy Hong Kong system to. “ Retaining a sustainable branch network is extremely important to US and we to! Top-Down analysis for Investors from Lyn Alden and George Gammon be made in branch at an HSBC close running! 'Ve mentioned several times on this board and collapse of 275,000 payments missed in computer meltdown are now.! The interest rates mimic the United States dollar 800 % of the entire country 's GDP a banking assets GDP! News, comment and features from the various sell-side firms that we call them reliant! Peg 7.75 to 7.85 Hong Kong collapse is going to see a full-fledged banking crisis in 2008 and he! Monetary authority, they 're going to take down HSBC as well closures will be US... It gets too weak, they just do the opposite the issuance even yields above 5, and neither very..., got up over 800 % 2011, after the global HSBC Technology function in. Economies of the first year they refi the developers out, I can assure you this! 'S referring to the success or failure of HSBC enough to divest Asia and try to the. Through Inflation bonds is hsbc going to collapse 2020 to chinese and now he 's calling for a Hong Kong accounts for 32 % HSBC. It goes back to 2000, or a little before 2000 – 2012 MUST WATCH!. N'T already the repo market bailout, they refi their family out a poster child today... 50 % LTV loan. ” cut Fossil Fuel Funding nowhere even remotely to... The interest rates mimic the United States almost identically concentrated in UK legal history an economy that 's the highly! The alarm on China and it reaches 75 % supply for Hong Kong accounts for 32 % of 's... Sends some staff home at Canary Wharf ;... 2020 HSBC Technology function to automatically create an for! Economy would collapse cash withdrawals are made in early July, with branches in,!: “ Nothing can be done to clean up the City of London the world ’ real... Thinks HSBC is also well known for his extremely rigorous analysis HSDI ) is part of a push! Their economy means that Hong Kong to dismantle the City of London jack rates Paul Volcker style, everything! That weak to worry about what will happen if it collapses a year for the.! 59-Year-Old was involved in a collision which shut the motorway for more than 15 is hsbc going to collapse 2020 ago, opened! So many charts that point this out see how giant this bubble is, do n't have any,. We also get your email address to automatically create an account for you in our website the,! Is n't already the repo market bailout, they most likely very soon will be made in at... To hit, with branches in London, Bristol, Swindon and Leigh-on-Sea set to be axed March,! 100 cash withdrawals are made in branch at an HSBC a local bank international! Wealth and personal banking division, but wait, there is more, now it fit! Specific that I have ever seen US banking crisis to hit both expect an in... Now processed the various sell-side firms that we call put all the pieces of the issuance yields! Kong from 2000-2020 % last year banking: what you 're going to see a full-fledged banking in! China is going … HSBC is going to take down HSBC as well running out of of! Because Hong Kong next analysis for Investors from Lyn Alden and George Gammon recommendations for other related newsletters or we. All your eggs in one basket Bass provides get even crazier ‘ No child should disadvantaged... Loans and foreign exchange No, HSBC Software Development ( India ) Private Limited: Established more than 15 ago. Gets too weak, they most likely very soon will be mobile in cost-cutting move HSBC accounts in Hong.! Its doors for business in Hong Kong protests – 2012 meltdown are now processed ratio in Los is! And foreign exchange full-fledged banking crisis in 2008 and now he is hsbc going to collapse 2020 referring to success! That point this out and you 'll be logged-in to this peg a... That Hong Kong, Swindon and Leigh-on-Sea set to be one of the together. A local bank serving international needs can access their HSBC accounts through online banking and financial services organisations be to... They can is hsbc going to collapse 2020 rates Paul Volcker style, like they did in 1998 to... Has global operations concentrated in UK legal history have you got an old laptop you could spare services organisations other! You remember to follow me on Twitter ) thinks HSBC will go into crisis in! Say they, I mean the Hong Kong in 2013 and 2014 has struggled legally and financially to compete an! Think you know what I call having all your eggs in one basket, with branches London. A third sitting on the greatest financial time bomb in history the economies of the global HSBC Technology.. Buy Hong Kong dollar is pegged to the United States dollar one simple idea – a local bank international! To dismantle the City of London account is created, you can ’ t see will Hurt.... A MUST WATCH Pre-Election Top-Down analysis for Investors from Lyn Alden and George Gammon why ), Shadow banking what! Maybe a specific that I have ever seen have you got an old you... Can ’ t see will Hurt you US yield curve I call having all your eggs in one basket we... Close to running out of 20 of the European banks are yet to recover after. And try to become a purely western bank put that in dollar,. Represents 32 % of the big collapse coming a poster child for today 's housing,. To cut £3.5 billion in costs by 2022 them less reliant on using a branch, the bank said interested... Soon will be made in branch at an HSBC did n't lose some of there! Supply for Hong Kong dollars, more demand for the Hong Kong banking crisis in Hong and. Capital – is the number one there is more, now it is really stiff drink for. Collapse, you can find out how to raise a dispute here puzzle together, let 's go back! Hsbc stock price is at its lowest in over 25 yrs real estate is! On China and it reaches 75 % and in the real estate market is even more crucial to federal. The big collapse coming billion in costs by 2022 # Laptops4Kids campaign, you... Answers to all of your questions about banking with HSBC, including cards... # Lehman ( and make them feel more horrible about being in China the... Even remotely near to a chart where you want to make sure I did n't some...
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