Tag Archive: HSBC

“It begins”: The rise of the digital dollar

2022-12-05

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2022-12-05

In mid-November, while the whole world was focused on the Ukraine crisis, the US midterms or whatever other “big story” the media decided was more important, a truly momentous shift took place in the global financial system. It might seem like a small step on the surface, but it has the potential to bring about a real and possibly irreversible sea change in the way we use money; or better said, the way it uses us.  As Reuters reported on the...

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LBMA Clearing and Vaulting data reveal the absurdity of the London ‘Gold’ Market

2018-10-02

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2018-10-02

LBMA gold vaulting data report for end of June 2018: Published 1st October
The first day of each month sees the reporting of a number of statistics about the London Gold Market by the bullion bank led London Bullion Market Association (LBMA). These statistics focus on clearing data and vault holdings data and are reported in a 1 month lag basis for clearing activity and a 3 month lag basis for vault holdings data.

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Spoofing Futures and Banging Fixes: Same Banks, Same Trading Desks

2018-04-22

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2018-04-22

Commodity Futures Trading Commision
On 29 January 2018, the Commodity Futures Trading Commission (CFTC) Division of Enforcement together with the Criminal Division of the US Department of Justice and the FBI announced criminal and civil enforcement actions against 3 global investment banks and 5 traders for involvement in trade spoofing in precious metals futures contracts on the US-based Commodity Exchange (COMEX).

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Average expat in Zurich earns more than $200,000

2018-03-04

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2018-03-04

Zurich and Geneva are among the top cities in the world for expat salaries, according to this year’s HSBC expat salary survey. The average expat can look forward to a pay packet of $206,875 (CHF191,960) in third-place Zurich and $184,942 in fifth-place Geneva.

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Swiss HSBC settles French tax fraud dispute

2017-11-18

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2017-11-18

With a payment of €300 million (CHF350 million), the Swiss subsidiary of British bank HSBC has settled its tax fraud dispute with the French authorities. Investigations by the French government revealed that many French taxpayers had hidden their assets with help from HSBC’s private bank.

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New Gold Pool at the BIS Basle, Switzerland: Part 1

2017-05-21

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2017-05-21

“In the Governor’s absence I attended the meeting in Zijlstra’s room in the BIS on the afternoon of Monday, 10th December to continue discussions about a possible gold pool. Emminger, de la Geniere, de Strycker, Leutwiler, Larre and Pohl were present.”  

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Bank of England releases new data on its gold vault holdings

2017-05-04

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2017-05-04

An article in February on BullionStar’s website titled “A Chink of Light into London’s Gold Vaults?” discussed an upcoming development in the London Gold Market, namely that both the Bank of England (BoE) and the commercial gold vault providers in London planned to begin publishing regular data on the quantity of physical gold actually stored in their gold vaults.

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It Was ‘Dollars’ All Along

2017-02-28

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2017-02-28

Giant Sucking Sound 1960 - 2015
Ross Perot famously declared the “giant sucking sound” in the 1992 Presidential campaign. The debate over NAFTA did not end with George H. W. Bush’s defeat, as it simmered in one form or another for much of the 1990’s. Curiously, however, it seemed almost perfectly absent during the 2000’s, the very decade in which Perot’s prophecy came true. Americans didn’t notice because there was a bubble afoot.

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