Kyle: Or maybe a specific that I can't mention right now (COVD-19) or YouTube will demonetize this video. Kyle Bass: They came crashing down. So the bank lends 50, the property developers lend 35 in a second lien, and families, the families or friends, lend them the other 15.” I said, “So how does that work?”, And they say, “Well, that's easy because housing goes up 10 to 15% a year. That makes the Hong Kong dollar grow weaker with respect to the USD. January 27, 2014 January 27, 2014 / Banking and Bank Products / By James Ryan Jonas An article entitled “HSBC Bank on Verge of Collapse: Second Major Banking Crash Imminent” is currently making its rounds on social media, causing several people to panic and leading some users to ask whether they should start withdrawing their money from HSBC . 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. Let's walk through them. We know that the Hong Kong dollar is pegged to the United States dollar, but how does that really work? But of course, there's a catch. ... HSBC. Kyle Bass Predicts HSBC Collapse In 2020! Yale Economist Warns Of Looming Dollar Collapse, And this is going to usher in a real economic crisis in America, unlike something we have ever seen. 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Global Finance … And Hong Kong’s real estate market is even worse. London-based bank on mission to cut £3.5 billion in costs by 2022. In Conclusion, Kyle Bass thinks HSBC will go into crisis mode in 2020. Those are his words, not mine. And according to Kyle Bass, he thinks they are very close to running out of dollars right now. 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. The 59-year-old was involved in a collision which shut the motorway for more than eight hours. But it may not be enough to save the the world’s most expensive property market from a very rocky 2020. He said: “Nothing can be done to clean up the City of London. HSBC has struggled legally and financially to compete as an international bank. They try to keep the peg 7.75 to 7.85 Hong Kong dollars per one United States dollar. 4.02pm EST 16:02. This is the banking relative to GDP for different countries. When they diverge it creates massive structural problems that usually end in collapse. 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. Going to uni Life events. The move came as the bank's net profit plunged 53% last year. The company also said it will refurbish 49 of its branches across the year. 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. So the question is why did Hong Kong’s interest rates mimic the United States almost identically? The NOT so mighty Dollar will soon perish( How soon, could be years, but will happen). Today I’m releasing our views on the financial, political, and legal plight of Hong Kong. But to put all the pieces of the puzzle together, let's go right back to Kyle Bass. 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. Explain Kyle Bass's numbers on Hong Kong and HSBC. HSBC say all of 275,000 payments missed in computer meltdown are now processed. Hong Kong represents 32% of HSBC's total revenue. Entrepreneur. 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. Capital flight as a result of oh, Hong Kong protests? And when I say they, I mean the Hong Kong monetary authority, they're like the central bank. London-based bank on mission to cut £3.5 billion in costs by 2022. HSBC Bank is not that weak to worry about what will happen if it collapses. ... Goldman Sachs projects that G.D.P. It's the biggest housing bubble by far that I have ever seen. In Conclusion, Kyle Bass thinks HSBC will go into crisis mode in 2020. If it gets too weak, they just do the opposite. You may be asking yourself, “My gosh, George, how did their debt problem and their housing bubble get so out of hand?”. How The Government Can Steal Your Money Through Inflation! HSBC has spent the last five years extending its reach into China as part of a broader push to Asia. Only 5 out of 20 of the issuance even yields above 5, and all of that has maturity dates greater than 2036! This Stimulus Bill Will Not Save the Economy From Collapse. If HSBC isn't already the repo market bailout, they most likely very soon will be. If HSBC isn't already the repo market bailout, they most likely very soon will be. The latest breaking news, comment and features from The Independent. 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! And Hong Kong's is 850%. And the numbers Kyle Bass provides get even crazier. HSBC has global operations concentrated in UK and Asia. Kyle Bass reveals HSBC insights YOU'VE BEEN LOOKING FOR! ‘No child should be disadvantaged' - teacher backs #Laptops4Kids campaign, Have you got an old laptop you could spare? 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 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 … I think HSBC, Standard Chartered. A Must Watch Pre-Election Top-Down Analysis For Investors From Lyn Alden and George Gammon. HSBC’s headquarters may be based in London but it’s in Hong Kong where the lion’s share of its money is made. The NOT so mighty Dollar will soon perish( How soon, could be years, but will happen). The company also said it will refurbish 49 of its branches across the year. HSBC has said it will axe around 35,000 jobs as it announced profits for 2019 fell by about a third. We know that Kyle Bass thinks HSBC is sitting on the greatest financial time bomb in history. 850%. HSBC has said it will axe around 35,000 jobs as it announced profits for 2019 fell by about a third. Kate Ng. Also, there's a gigantic bubble. HSBC is going to be one of the first banks to fail and collapse. Once your account is created, you'll be logged-in to this account. 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 reason the Hong Kong monetary authority would have to jack interest rates because those higher interest rates would attract capital coming into Hong Kong. If they deplete their reserves, And if they don't have any dollars, then the peg breaks. Gold and silver will become real currency again. Would love your thoughts, please comment. The first closures will be made in early July, with branches in London, Bristol, Swindon and Leigh-on-Sea set to be axed. HSBC can no longer avoid the brutal political truth An accelerated programme of 35,000 job cuts from a global workforce of 235,000 is inevitably undermining morale at a time of crisis Banking giant HSBC has unveiled a major restructuring plan that includes 35,000 job cuts. So where is Hong Kong's banking system relative to GDP, right now? HSBC is obviously going through a difficult period. 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. Most of the European banks are yet to recover fully after 2008–09. 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 … I hear a lot from the various sell-side firms that we call. So whatever happens in Hong Kong happens to HSBC. When a recession comes around, it will spell disaster for HSBC. I couldn't fit half of them up on this board. Deflation! 19 Apr 2020, 12:02 Updated : 19 Apr 2020, 12:43 MORE than half a million businesses are now close to going bust as a result of the coronavirus outbreak, an insolvency firm has claimed. If Hong Kong even raised their rates to 5 or 6%, it would crush their economy far worse than it did in 1998. Citigroup and HSBC Securities both expect an increase in central bank gold purchases next year after a drop-off in 2020. This is a chart of interest rates in Hong Kong from 2000-2020. And that reminds me, if you're not following me on Twitter, make sure you go there and follow me as soon as this video gets done. Its 2017 collapse – which followed failed attempts to merge or raise new capital – is the largest in UK legal history. “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. We also get your email address to automatically create an account for you in our website. In this Kyle Bass and HSBC video I’ll discuss the following: 1. 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. More on that later. As an employee, I can assure you this. FTSE 100 (^FTSE) dividend payments are forecast to drop by 20% this year due to the COVID-19 outbreak and subsequent recession, it has been revealed. That is exactly why Ireland and Iceland and those other countries in the EU collapsed back in 2011, after the global financial crisis. So you have a greater supply going out of Hong Kong with capital flight, and you have lower demand going into Hong Kong as capital flight from China. Real Estate Expert. They sell Hong Kong dollars and they buy US dollars. 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I think Investors that have assets invested there should immediately move them into USD before it’s too late. 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. 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. 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. Our. 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. Only one in every 100 cash withdrawals are made in branch at an HSBC. 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. They go into the FX market and they buy Hong Kong dollars by selling USD. This is a big sign of the big collapse coming. Their banking system is 800% of the entire country's GDP. It’s lost that competitive struggle, and now has to shrink (it was never going to be a top investment bank). Sometimes they’ll include recommendations for other related newsletters or services we offer. And that's an economy that's the most highly leveraged economy in the developed world. HSBC has spent the last five years extending its reach into China as part of a broader push to Asia. So we'll go ahead and call it the Cerveza sickness, wink, wink, wink. The problem is that it isn't 1998. Over these first six months of 2020, HSBC saw strong performance in mainland China, with the profit from there up around about 29%. It doesn't get much better. Their banking system, relative to GDP, got up over 800%. And also remember, there's going to be potentially a lot less demand in the future for the Hong Kong currency from China, because of the Cerveza sickness has really got this entire country on lockdown. The retailer said it would move ahead with plans to close its 124 UK stores unless a new buyer comes forward. Today we are one of the world’s largest banking and financial services organisations. . 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 government has defended its role in Flybe’s collapse… But when we look at a poster child for today's housing bubble, everyone goes straight to Vancouver. Kate Ng. It simply wasn’t large enough to divest Asia and try to become a purely western bank. HSBC says it has always met its legal duties on reporting such activity. If you've been affected by the Flybe collapse, you can find out how to raise a dispute here. I will provide you some facts to assure you regarding this. Definitely not a chart where you want to be number one. Time out, I want to make sure I didn't lose some of you there. March 2020: Tax year scams The end of the tax year is seen by fraudsters as an opportunity to make ‘social engineering’ attacks. How do they afford a 50% deposit on the most expensive real estate in the world?”, They said, “Oh, that's easy. Kyle: HSBC has declined to comment on the situation. Hong Kong is the number one revenue source by far. HSBC is … We've got to go over the numbers. The Secret Government Plan To Produce A Stock Market Hyper Bubble, How Bank Reserves Actually Work And Why They Are No Longer Required. “Retaining a sustainable branch network is extremely important to us and we need to ensure it is fit for the future. This is a big sign of the big collapse coming. HSBC’s roots and most profitable region is east Asia. HSBC has said it will close 27 stores across the country in 2020. One other small enterprise proprietor says her psychological well being has been affected by If you’re interested in the economy THIS IS A MUST WATCH VIDEO! Besides, as you say the HSBC stock price is at its lowest in over 25 yrs. #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. She was a government minister until May last year. Remember, Hong Kong is married to the US yield curve. If they do run out of reserves, they're going to have one of two choices, and neither is very good. HSBC announces senior appointments in its wealth and personal banking division. Drugs money was the only thing that kept the banks going … 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. If they could see it, wouldn't they start selling their assets, getting their wealth out of the country as quickly as they can? — Manners Residential (@MannersWoking) January 9, 2020. 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If the Hong Kong dollar was a free-floating currency the issue wouldn't be as bad according to Kyle Bass, but with the currency pegged to the US dollar, it makes the situation grim. Kyle Bass is a legendary investor well known for his extremely rigorous analysis. 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. HSBC is, for example, among creditors to Singapore oil trader Hin Leong Trading (Pte) Ltd, which is struggling to repay debts following a collapse in the oil price, Reuters reported on April 16. You can unsubscribe at any time. This is what I call having all your eggs in one basket. And that curve is very flat right now, and very low. 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 plans to drive customers to mobile in cost-cutting move. So it takes about a year for the full-fledged banking crisis to hit. Well, I don't know. All three of these have one thing in common. 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. Especially considering Hong Kong accounts for 32% of HSBC's revenue!! Especially considering Hong Kong accounts for 32% of HSBC's revenue!! Throw in mainland China and it reaches 75%. HSBC is going to be one of the first banks to fail and collapse. HSBC has said it will close 27 stores across the country in 2020. What you're seeing in Hong Kong today is a collapse in their economy. HSBC bankrupt and on the brink of collapse? In March 1865, HSBC opened its doors for business in Hong Kong. (Here's Why), Shadow Banking: What You Can’t See Will Hurt You. HSBC plans to drive customers to mobile in cost-cutting move. I've mentioned several times on this channel that the price to income ratio in Los Angeles is completely absurd. 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. For the record, analysts still think HSBC could pay a dividend of 26.4p a share for fiscal 2020, enough for a 6.3% yield on the shares. 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. I think you know what I'm talking about. So they're right between a rock and a hard place, where if they completely run out of reserves, they're either going to have to force interest rates higher or let the market do it for them. No, HSBC is nowhere even remotely near to a collapse. That's when we got #Lehman (and make sure you remember to follow me on Twitter). They have to have USD reserves, in order to have those dollars to sell into the market, to buy back their own currency. Frank Partnoy, an architect of the collateralized debt obligations (CDOs) that precipitated the 2008 financial crisis, now believes another systemic banking collapse is possible. Explain the dollar peg and how it spells disaster for Hong Kong and HSBC. Customers with Holiday Credit Notes, issued for package holidays cancelled since March 2020, due to the COVID-19 pandemic, may have the same financial protection as … HSBC is going to be one of the first banks to fail and collapse. Because Hong Kong pegs its currency to the United States dollar. On 31 March 2020, HSBC announced it was cancelling the fourth interim dividend for 2019. And you'll see that they mirror the interest rates in the United States. 5 days HSBC Shareholders Urge Bank To Cut Fossil Fuel Funding. If any politician tried to dismantle the City of London the world economy would collapse. Over these first six months of 2020, HSBC saw strong performance in mainland China, with the profit from there up around about 29%. 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. 19 September 2020 • 9:30pm ... that the market has priced as worse for HSBC than a potential collapse of the global financial system. You're going to see a full-fledged banking crisis in Hong Kong next. Britain's biggest bank moved the money through its US business to HSBC accounts in Hong Kong in 2013 and 2014. And this time around Kyle Bass things the Hong Kong collapse is going to take down HSBC as well. 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. So that means that Hong Kong is even more crucial to the success or failure of HSBC. That's what he's referring to the debt problem in the real estate bubble in Hong Kong. Clients can access their HSBC accounts through online banking and mobile banking apps. “And the first year they refi their family out. 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. We know Kyle Bass says Hong Kong itself is the greatest financial time bomb in history. Hsbc 's total revenue doors for business in Hong Kong represents 32 of! That they mirror the interest rates mimic the United States almost identically, with in. So we 'll go ahead and call it the Cerveza sickness, wink, wink, wink, wink wink. Lending with fixed rate, fixed term bonds sold to chinese I ca n't mention right now, very! Debt problem in the United States almost identically moved the money through Inflation say, “ really ) part... 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