Is HSBC Bank Collapsing? A new recession imminent?
There's a speculation that HSBC bank, one of the biggest banks in the world is on the verge of collapse. The recent news that the bank has put checks on the amount of cash people can withdraw from their own bank accounts has fuelled the news. Apparently, the customers were told that they'll have to submit a proof first before they can withdraw money from their own accounts. In banking terms, HSBC is said to be going through serious liquidity crisis (which means it's got no hard cash) - a serious indication that the bank is on the verge of collapse.
BBC reported that several of Britain's customers were not allowed to withdraw funds from their own accounts. They were offered to make a bank transfer - to some other bank account and then withdraw funds from there. The bank's asking for proof on the intended usage of the money withdrawn. One of the customers requested to withdraw about 5000 pounds, but he was allowed to withdraw only 3000.
Of course, the conclusion of HSBC bank on the verge of collapse is not mine; but drawn by various media sources. My own knowledge of banking is very limited; but the news confirms my belief that money is nothing but a big fraud to keep the power in just a few people's hands.
What do you think?
BBC reported that several of Britain's customers were not allowed to withdraw funds from their own accounts. They were offered to make a bank transfer - to some other bank account and then withdraw funds from there. The bank's asking for proof on the intended usage of the money withdrawn. One of the customers requested to withdraw about 5000 pounds, but he was allowed to withdraw only 3000.
Of course, the conclusion of HSBC bank on the verge of collapse is not mine; but drawn by various media sources. My own knowledge of banking is very limited; but the news confirms my belief that money is nothing but a big fraud to keep the power in just a few people's hands.
What do you think?
Replies
-
Shrikant BedekarWhat the hell are these people up to , its like a new festive season for bank collapses. One day Lehman Brothers, then Euro financial turmoil , now HSBC and what not, if these people continue to carry on like this, God save us all. -
Nayan GoenkaI have an insider connection in HSBC Banks in India and Hong Kong and even a closed relative has an platinum level account in HSBC. The reason is not hard cash problems but something else. Undisclosed to the public. HSBC has a very strong architecture(in terms of working) and will not collapse.
You are reading an archived discussion.
Related Posts
Microsoft has internally set the XBOX One release date in India around October 2014, reports IGN (India). The source seems to have obtained insider information from Microsoft about their global...
India's most favored e-commerce site Flipkart has proposed Myntra a merger propelled by the common investors (US hedge fund Tiger Global and venture capital firm Accel Partners) shared by these...
If you thought Google were the only ones doing it, you were wrong. Singapore-MIT Alliance for Research and Technology (Smart) and National University of Singapore have jointly developed "SCOT" -...
This might be the beginning of a new era for the Internet in which the users will have unmatched choice to distinguish their brand online. Internet users, website owners and...
Nokia X, also known as Nokia Normandy will be a 4-inch touch screen phone. It is going to have dual-SIM slots with 480x800 pixel resolution. A popular Twitter handle, EVLeaks...