China slowly buying up the Federal Reserve; HSBC

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In essence, China has been slowly buying up the Federal Reserve for some time now. If you can call it a purchase. Its more of a negotiation over assuming the liabilities of both the Federal Reserve and the U.S. Treasury.
The Federal Reserve is the largest holder of U.S. debt at $2.1 trillion. China is second at $1.3 trillion. Think of it as the United States government doing a debt consolidation of all its treasury bonds because it can no longer pay or service the debt.
China, or the BRICS countries, and/or a consortium of international interests, most likely organized through the I.M.F., will manage the U.S. debt through exchange rate increases and trade tariffs.
The reality for Americans for the next decade or more will be price increases/inflation of 30% to 50%, segmented by industry and region, until such a time that its debt, or a negotiated margin of their debt, is cleared from the books….
Rumors are circulating that the U.S. dollar will have a rate for in country use, and a separate international rate. That is because the U.S. treasury and the Federal Reserve are about to be severed from each other. The Treasury will control the in country dollar, and the “international reserve” dollar will be controlled by China and or the I.M.F. consortium of debt holders….
China has recently purchased the JP Morgan building in Manhattan for $725 million. One could reason that they have in fact purchased all of JP Morgan. And I’m sure it will soon be announced that China has or is in the process of purchasing other Western banks and physical assets. These banks make up the majority owners of the Federal Reserve.   http://followingworldchange.wordpress.com/2014/01/21/china-to-purchase-the-federal-reserve/
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5-31-13   HSBC auditor KPMG
  HSBC “agreed to forfeit $1.256 billion and enter into a deferred prosecution agreement with the Justice Department for HSBC’s violations of the Bank Secrecy Act (BSA), the International Emergency Economic Powers Act (IEEPA) and the Trading with the Enemy Act (TWEA). In addition to forfeiting $1.256 billion as part of its deferred prosecution agreement (DPA) with the Department of Justice, HSBC has also agreed to pay $665 million in civil penalties….
  I have a pro-tip for Mr. Comey as he takes the job leading white- and blue-collar crime fighters at the FBI: Don’t waste any time on the Big Four public accounting firms. Your fears have been realized. The largest global public accounting firms are now, as a result of your decision, considered “too few to fail” by the Justice Department and SEC. The auditors have been very busy since 2005 missing new crimes at HSBC, Standard Chartered, JPMorgan, Barclays, MF Global, Deutsche Bank (KPMG), UBS, Colonial Bank, Taylor Bean & Whitaker.   http://www.forbes.com/sites/francinemckenna/2013/05/31/james-comey-and-kpmg-isnt-it-ironic/
 
comment:  James Ulvog 7 months ago
You give this quote: “Does the notion of corporate criminal liability mean anything for the Big 4?”
After watching the current round of settlements for flagrant money laundering and LIBOR rate fixing, I think the question also applies to the large banks. I think the answer is the same.
(That said, acknowledging one small sub has entered a guilty plea. Think that’s happened twice.)
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Stern said he hopes the government’s enforcement actions against HSBC have not come to an end with the latest settlement. “They admit to financing terrorism and they get fined $32,000. Where if I were to do that, I would go to jail for life,” he said.
HSBC’s fine is less than the $40,165.07 covered in the settlement agreement that the bank transferred between December 2010 and April 2011 on behalf of a development company that Treasury says serves as a front for some of Hezbollah’s biggest financiers in Africa.
And the government watchdog’s claim that HSBC committed no “substantially similar apparent violations” in the past five years is likely to raise some eyebrows. In December 2012, the bank agreed to pay a $1.9 billion settlement for moving money that a 2012 Senate report found had likely helped drug cartels and a Saudi Arabian bank the CIA has linked to al Qaeda.
No one at HSBC was criminally charged for what U.S. Assistant Attorney General Lanny Breuer called at the time “stunning failures of oversight.” The Senate report faulted the Office of the Comptroller of the Currency, an independent bureau with the Treasury Department, for weak oversight of HSBC.  http://www.huffingtonpost.com/2013/12/18/hsbc-terrorists_n_4467329.html
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