Bear Stearns didn't go down until till March of '08, and Lehman, AIG, and Fannie and Freddie didn't go down until September of '08. HSBC’s headquarters may be based in London but it’s in Hong Kong where the lion’s share of its money is made. And that's an economy that's the most highly leveraged economy in the developed world. 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. 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 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 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. 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. If HSBC isn't already the repo market bailout, they most likely very soon will be. We know Kyle Bass says Hong Kong itself is the greatest financial time bomb in history. So it takes about a year for the full-fledged banking crisis to hit. 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. China is going to make HSBC pay dearly and make them feel more horrible about being in China. HSBC has spent the last five years extending its reach into China as part of a broader push to Asia. HSBC is … I will provide you some facts to assure you regarding this. And that curve is very flat right now, and very low. Banking giant HSBC has unveiled a major restructuring plan that includes 35,000 job cuts. News Release - 8 September 2020. This is a big sign of the big collapse coming. 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. 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. That's when we got #Lehman (and make sure you remember to follow me on Twitter). And that basket is a ticking time bomb. ‘No child should be disadvantaged' - teacher backs #Laptops4Kids campaign, Have you got an old laptop you could spare? That makes the Hong Kong dollar grow weaker with respect to the USD. 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. When they diverge it creates massive structural problems that usually end in collapse. If they deplete their reserves, And if they don't have any dollars, then the peg breaks. In Conclusion, Kyle Bass thinks HSBC will go into crisis mode in 2020. Deflation! 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. 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. Things are much different now. We've got to go over the numbers. Sometimes they’ll include recommendations for other related newsletters or services we offer. 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. 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. I think you know what I'm talking about. 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. The company also said it will refurbish 49 of its branches across the year. Kyle Bass reveals HSBC insights YOU'VE BEEN LOOKING FOR! The private credit in the Hong Kong system relative to GDP is over 300%. Real Estate Expert. If you've been affected by the Flybe collapse, you can find out how to raise a dispute here. I think HSBC, Standard Chartered. Kate Ng. HSBC has global operations concentrated in UK and Asia. Kate Ng. And the numbers Kyle Bass provides get even crazier. If they could see it, wouldn't they start selling their assets, getting their wealth out of the country as quickly as they can? HSBC's revenue since 2015 has gone down by $6 billion. 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. Welcome to DOSBODS ... HSBC is funding most of its uk lending with fixed rate, fixed term bonds sold to chinese. They sell Hong Kong dollars and they buy US dollars. 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. 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. In other words, it goes further up this chart, closer to the middle of the range, which is 7.8. Today I’m releasing our views on the financial, political, and legal plight of Hong Kong. ... HSBC. 850%. Explain the dollar peg and how it spells disaster for Hong Kong and HSBC. Kyle: 5 days HSBC Shareholders Urge Bank To Cut Fossil Fuel Funding. And if they're selling those assets, that are denominated in Hong Kong dollars, that makes less demand for the Hong Kong dollar, more supply, and that makes it even weaker. That is exactly why Ireland and Iceland and those other countries in the EU collapsed back in 2011, after the global financial crisis. If you’re interested in the economy THIS IS A MUST WATCH VIDEO! And this time around Kyle Bass things the Hong Kong collapse is going to take down HSBC as well. We know that the Hong Kong dollar is pegged to the United States dollar, but how does that really work? ... Goldman Sachs projects that G.D.P. HSBC has said it will axe around 35,000 jobs as it announced profits for 2019 fell by about a third. No, HSBC is nowhere even remotely near to a collapse. It's the biggest housing bubble by far that I have ever seen. You can unsubscribe at any time. He called the US banking crisis in 2008 and now he's calling for a Hong Kong banking crisis in 2020, specifically HSBC! Frank Partnoy, an architect of the collateralized debt obligations (CDOs) that precipitated the 2008 financial crisis, now believes another systemic banking collapse is possible. 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. Ireland got even worse than that a year or so later and Cyprus in 2011, 2012, got up near 850% of its GDP. HSBC plans to drive customers to mobile in cost-cutting move. Most of the European banks are yet to recover fully after 2008–09. Kyle Bass is a legendary investor well known for his extremely rigorous analysis. They're only 50% loan de-value, not a problem.” I said, “Really? The problem is that it isn't 1998. A new list of the top 50 safest banks in the world features just three British names - HSBC, Nationwide Building Society and Barclays. Kyle Bass Predicts HSBC Collapse In 2020! And what's going to detonate that time bomb is the HKMA running out of dollars. Barclays and HSBC shares fall after reports of alleged suspicious transfers ... Mon 21 Sep 2020 04.09 EDT First published on Mon 21 Sep 2020 03.41 EDT. Noel Quinn HSBC customers will still be able to bank in Post Office branches across the country. Definitely not a chart where you want to be number one. China stockpiling gold will devastate the US dollar. 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! 4.02pm EST 16:02. Or maybe a specific that I can't mention right now (COVD-19) or YouTube will demonetize this video. They like to keep the range. So you may be asking yourself, okay, George, well, what would make the Hong Kong dollar get to the top of this range, to where the Hong Kong monetary authority would have to come in and defend the currency? Real trouble in Hong Kong ’ s too late income ratio in Los Angeles is completely absurd legal on! 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