Best of the Week
Most Popular
1.Trump Delirium Triggers Stock Market Brexit Upwards Crash Towards Dow 20,000! - Nadeem_Walayat
2.The Future Price Of Gold Will Drop Below $1000 In 2017 -InvestingHaven
3.May Never Get Another Opportunity to Buy Gold at this Level Again - Chris_Vermeulen
4.Delirium - The Real Reason Why Donald Trump Won the US Presidential Election - Nadeem_Walayat
5.Why Nate Silver / Fivethirtyeight is one of the Most Reliable Election Forecasting Indicator? - Nadeem_Walayat
6.Gold Price Forecast: Nasty Naughty November Gold Price Trend - I_M_Vronsky
7.Gold Mining Stocks Screaming Buy! Q3’16 Fundamentals - Zeal_LLC
8.Delirium of Trump Mania Win's Mr BrExit US Presidential Election 2016 - Nadeem_Walayat
9.The War On Cash Goes Nuclear In India, Australia and Across The World - Jeff_Berwick
10.Hidden Signs for Gold and Silver - P_Radomski_CFA
Last 7 days
Gold and Silver Bullion Buying Opportunity for 2017? - 4th Dec 16
First UK BrExit then Trump, Next BrExit Tsunami Wave to Hit Italy HARD Sunday! - 3rd Dec 16
The 10YR Yield and SPX Stocks Bull Markets - 3rd Dec 16
Gold And Silver – Do Not Expect Much Difference With Trump Compared To Obama - 3rd Dec 16
Gold, Currencies and Markets Critical 61.8% Retracements - 2nd Dec 16
Gold Junior Stocks Q3’16 Fundamentals - 2nd Dec 16
Adventures in Castro’s Cuba - 2nd Dec 16
We Are Putting Off the Inevitable - 2nd Dec 16
Macroeconomic Cycles & Demographics - A Fuse, An Explosive and The Igniting Catalyst - 2nd Dec 16
How Moving Averages Can Identify a Trade - 1st Dec 16
Silver Prices and Interest Rates - 1st Dec 16
America, is it Finally time for us to say Goodbye? - 1st Dec 16
Blockchain Technology – What Is It and How Will It Change Your Life? - 1st Dec 16
Burn the Flags, Can Trump Salvage The Sinking US Economic Ship? - 1st Dec 16
Will US Housing Real Estate Market Tank in 2017? - 1st Dec 16
Referendum Puts Italy's Government to the Test - 30th Nov 16
Why We Haven’t Seen Gold Price Rally after Trump Victory - 30th Nov 16
Breakdown and Slide in Crude Oil Price - 30th Nov 16
A 'Wicked Rally' in Gold Price Predicted - 30th Nov 16
Silver Market Sentiment Looks Golden - 30th Nov 16
Indian Demonetization Denotes Severe Stress in the Global Gold Market - 30th Nov 16
Owning Gold and Silver in Troubling Times - 29th Nov 16
Trump's Presidency - Stock Market Crash or Start of New Mega-Trends - 29th Nov 16
Prime Minister Modi's War Against Corruption, Black Money and Fake Currency Notes in India - 29th Nov 16
Can President Trump Really Drain the Swamp? - 29th Nov 16
President Trump’s Economic Plan Isn’t Going to Work - 29th Nov 16
The US Bond Bear Market Has Begun! - 29th Nov 16
Simple Yet Powerful Technical Trading Tools - 28th Nov 16
Public Infrastructure – Welcome to the World of Waste, Fraud, and Abuse - 28th Nov 16
Fifty Years Later, Moore's Computing Law Holds - 28th Nov 16
An Elusive Stock Market Top - 28th Nov 16
This Past Week in Gold - 27th Nov 16
Italian Bank Collapse European Sovereign Bond Carnage, Criss-Crossed Fuses & Lit Bonfire - 27th Nov 16
How to Beat UK Savings Crisis with Child Junior Cash ISA, Pension's and Life-time ISA - 27th Nov 16
Castro Was Not Who You Thought He Was - 27th Nov 16
Understanding the Trump Presidency , Beyond Merkel - 26th Nov 16
US Stocks Bull Market New All Time Highs - 26th Nov 16
Silver Mining Stocks Q3 2016 Fundamentals - 26th Nov 16
MSM's Stock Market Druck'n Suck-In Continues - 26th Nov 16
Gold Price Down 13.5% In 13 Days - Opportunity For Geometric Price Cost Averaging - 26th Nov 16
Tips for Trading Options with Elliott Waves - 26th Nov 16
Germany Pulls the Plug on Market Oracle site for 24 hours, German Election BrExit GerExit Warning Shot? - 26th Nov 16
New NS&I 2.2% Savings Bond Ahead of 2017 Stealth Inflation Theft of Purchasing Power - 24th Nov 16
Establishment Controlled Mainstream Media Launches War on Alternative 'Fake' News - 24th Nov 16
Black Friday Cheap Christmas Lights, How Long do they Last ? B&M Stores Review Video - 24th Nov 16
War On Cash Goes Global – India and Citibank In Australia - 24th Nov 16
Stocks, the Politically-Driven S.O.D. to Lose Again - 24th Nov 16
One of the best buying opportunities in history? - 24th Nov 16

Free Instant Analysis

Free Instant Technical Analysis


Market Oracle FREE Newsletter

$10000 Gold

Long History of HSBC Bank Money Laundering

Companies / Banksters Dec 19, 2012 - 11:12 AM GMT

By: BATR

Companies

If there was any lingering doubt about the supremacy of the internationalist banker over the canons of law, the latest HSBC exemption from criminal charges proves that the real masters of the planet are the criminal banksters. If this settlement was an abnormality and not the rule, one might argue the expediency for pragmatism, while deployable, is necessary. Unfortunately, for the financial elites, the facts tell a very different story.


The Associated Press reports in Government outlines HSBC ties to drug money laundering.

"In court papers filed in federal court in Brooklyn, the federal government said the case against HSBC is related to the laundering of proceeds from narcotics trafficking via the Black Market Peso Exchange, a method by which money launderers convert cash narcotics dollars into Colombian pesos by buying and re-selling wholesale consumer goods.

"The lack of an effective anti-money laundering program at HSBC Mexico and HSBC Bank USA, N.A. contributed to the conduct charged" in the money-laundering case against narcotics traffickers, Justice Department prosecutors said in court papers."

Published in the Globe and Mail account, HSBC failed to control drug-money laundering, Senate finds, indicates the political nature of this investigation.

"A year-long investigation by a Senate committee uncovered that HSBC acted as a conduit for drug money, disguised the sources of funds to evade U.S. sanctions against Iran, and included among its clients businesses with alleged ties to terrorism. HSBC’s internal culture has been "pervasively polluted for a long time," said Carl Levin, a senator from Michigan, who helped lead the investigation."

Instead of prosecuting criminal charges, the U.S. Department of Justice slaps a fine and demands stricter but inadequate regulations. Some of the details are provided in Banks on alert as regulators step up pressure on HSBC. The facade of accountability is insulting. Ian Fraser presents a correct assessment. HSBC’s $1.9 Billion Settlement Sets (Another) Dangerous Precedent.

"Sending executives to prison has far more deterrent value that bringing a company down, since many will argue that employees who had nothing to do with the criminal activity would also be harmed."

The muckraker Matt Taibbi gives a sober overview in a video that deserves watching, After Laundering $800 Million in Drug Money. His observations parallel that of Mr. Fraser.

"You can do real time in jail in America for all kinds of ridiculous offenses," Taibbi says. "Here we have a bank that laundered $800 million of drug money, and they can’t find a way to put anybody in jail for that. That sends an incredible message, not just to the financial sector but to everybody. It’s an obvious, clear double standard, where one set of people gets to break the rules as much as they want and another set of people can’t break any rules at all without going to jail."

The risk of going to jail for managing the enormous sums from the illicit drug trade is small, when governments are beholding for their contrived power to the banking cabals, which control the apparatus of fiat money.

In the seminal study by John Hoefle coming out of the Executive Intelligence Research, HSBC: Flagship Bank Of Britain’s Dope, Inc., the historic composition of dishonest business dealings that transcend even shady banking is documented.

"It should come as no surprise that British banking giant HSBC was caught laundering money for drug cartels and terrorist groups. HSBC, as we shall show, is the kingpin bank of the global drug trade, a bank which, since its founding in 1865, has been devoted to financing drug crops and laundering the proceeds. HSBC is, in fact, one of the key controlling institutions of the global illicit drug cartel we call Dope, Inc.

If you think that is an outlandish claim, consider the fact that EIR, through its book Dope, Inc., and in its affilicated War on Drugs magazine, published in the early 1980s by the National Anti-Drug Coalition, have made this charge for over 30 years, and have never been sued or challenged by the bank."

Once a drug launderer it is an easy step to institutionalized money laundering.

Now watch the interview with Jeffrey Robinson on HSBC fine for money-laundering. Mr. Robinson’s appraisal rings similar with that of Fraser and Taibbi. This picture becomes clearer as more information becomes available. Even the establishment journal The Economist must conclude that Too big to jail is the reality in the world of international banking.

"The agreements put an end to uncertainty over the banks’ ability to operate within America, a key link in their global networks; their share prices both rose on the day the fines were announced. And the penalties are, in effect, levied on shareholders; not one corporate employee faces charges (although HSBC, at least, has clawed back payments to those responsible). Indeed, at a news conference this week Lanny Breuer, head of the Justice Department’s criminal division, suggested that an outright prosecution of HSBC was considered and rejected because of how damaging the impact could be on the bank’s viability, and thus on jobs and the American economy. Has a handful of banks become not too big to fail, but too big to jail?"

The significance of rejecting criminal pursuance of HSBC, and the long list of other mega banks is Prima Facie validation that the global economy operates under the self-serving guidance and often the practical permission of the largest international banking organizations.

The pattern of selective prosecution by the Injustice Department is no revelation, when the war on drugs is so profitable for the diabolic alliances that run the drug trade. Banking and government by acquiesce is a historic construct that hide behinds the law, while dealing in bribes, payoffs and hidden offshore accounts. Drug trafficking continues to prosper because government needs the threat of an evil enemy, while the agencies charged with its eradication are often corrupt game players.

The HSBC’s of this world are dirty participants in the real drug triangle; namely, drug traffickers, crooked government elements and complicit moneychangers.

Source : http://www.batr.org/negotium/121912.html

Discuss or comment about this essay on the BATR Forum

http://www.batr.org

"Many seek to become a Syndicated Columnist, while the few strive to be a Vindicated Publisher"

© 2012 Copyright BATR - All Rights Reserved

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors

BATR Archive

© 2005-2016 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Comments

Rudy-Avizius
20 Dec 12, 11:19
Liberty and Justice for some

Unfortunately this article is right on target. We have a 3 tier justice system in the U.S.:

1. One for those who cannot afford legal presentation and our prisons are overcrowded with those victims.

2. One for those who can afford legal representation and can negotiate to get their charges reduced.

3. One for the criminal bankers who never have to face justice and have the shareholders pay for their crimes.

Maybe it is time for Eric Holder to take a LONG vacation. We may get more done with him gone and out of the way. What can one expect from a person who worked for a firm that advises multinational corporations on significant transactional, litigation, regulatory, and public policy matters?

So the phrase "liberty and justice for all" rings very hollow!


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

Catching a Falling Financial Knife