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August 28, 2015
Western Banks In Turmoil As British Banking Giant HSBC Nears Total Collapse
By: Sorcha Faal, and as reported to her Western Subscribers
The Ministry of Finance (MoF) is reporting today that British banking giant HSBC is nearing a total collapse after its having lost a staggering nearly $1 trillion due to the ongoing Great 2015 Global Market Crash and earlier today it completely ran out of cash to pay its obligations and depositors.
According to this report, HSBC is a
multinational banking and financial services company headquartered in
Not known to many Westerners, this report continues, HSBC was established in its present form in London in 1991 by the Hong Kong and Shanghai Banking Corporation Limited to act as a new group holding company and the origins of this banking giant mainly lies in Hong Kong, and also to a lesser extent Shanghai, where branches were first opened in 1865.
Due to the staggering crash of the Shanghai Composite index that has shed 38% of its value since 12 June, this report explains, HSBC lost nearly $700 billion of its value in China while a further estimated $300 billion has been lost due to the Dow’s collapse of over 1,800 points since its high for the year was reached on 27 May.
To the consequences of this massive $1
trillion HSBC loss, this report says, began hours ago when reports began to
surface in the
MoF experts in this report dismiss HSBC’s explanation of a “computer glitch” noting that this phrase is commonly used by Western banking and financial institutions as a “cover story” to mask their inability to access cash…and is likewise being used to explain what is preventing hundreds of American mutual and exchange-traded funds from providing their investors with the values of their holdings, and why one of the world’s largest brokerages, Charles Schwab, shut down earlier today too.
As HSBC is Britain’s largest bank, this report notes, it has appealed for an emergency loan from the Bank of England (BoE), with the BoE then appealing to the European Central Bank (ECB), and the ECB then appealing to the US Federal Reserve System (FRS).
With the US Congress having verified that over $16 trillion of the American peoples money was given by the US Federal Reserve to European corporations and banks, purportedly for “financial assistance” during and after the 2008 fiscal crisis, this report says, it remains “highly probable” they will do so again before HSBC totally collapses.
Though not mentioned in this report, it is interesting to note that at least the American people are seeing the truth and, according to one news source, are “yanking their money from almost everything”…which in turn has led one of the elites major mouthpieces, the Financial Times, to publish an anonymous article calling for the outright abolition of cash in order to give central banks and governments more power.
August 28, 2015 © EU and US all rights reserved. Permission to use this report in its entirety is granted under the condition it is linked back to its original source at WhatDoesItMean.Com. Freebase content licensed under CC-BY and GFDL.
[Ed. Note: Western governments and their intelligence services actively campaign against the information found in these reports so as not to alarm their citizens about the many catastrophic Earth changes and events to come, a stance that the Sisters of Sorcha Faal strongly disagrees with in believing that it is every human beings right to know the truth. Due to our missions conflicts with that of those governments, the responses of their ‘agents’ against us has been a longstanding misinformation/misdirection campaign designed to discredit and which is addressed in the report “Who Is Sorcha Faal?”.]