Best of the Week
Most Popular
1. Gold vs Cash in a Financial Crisis - Richard_Mills
2.Current Stock Market Rally Similarities To 1999 - Chris_Vermeulen
3.America See You On The Dark Side Of The Moon - Part2 - James_Quinn
4.Stock Market Trend Forecast Outlook for 2020 - Nadeem_Walayat
5.Who Said Stock Market Traders and Investor are Emotional Right Now? - Chris_Vermeulen
6.Gold Upswing and Lessons from Gold Tops - P_Radomski_CFA
7.Economic Tribulation is Coming, and Here is Why - Michael_Pento
8.What to Expect in Our Next Recession/Depression? - Raymond_Matison
9.The Fed Celebrates While Americans Drown in Financial Despair - John_Mauldin
10.Hi-yo Silver Away! - Richard_Mills
Last 7 days
Buying a Custom Built Gaming PC From Overclockers.co.uk - 1. Delivery and Unboxing - 17th Feb 20
BAIDU (BIDU) Illustrates Why You Should NOT Invest in Chinese Stocks - 17th Feb 20
Financial Markets News Report: February 17, 2020 - February 21, 2020 - 17th Feb 20
NVIDIA (NVDA) GPU King For AI Mega-trend Tech Stocks Investing 2020 - 17th Feb 20
Stock Market Bubble - No One Gets Out Of Here Alive! - 17th Feb 20
British Pound GBP Trend Forecast 2020 - 16th Feb 20
SAMSUNG AI Mega-trend Tech Stocks Investing 2020 - 16th Feb 20
Ignore the Polls, the Markets Have Already Told You Who Wins in 2020 - 16th Feb 20
UK Coronavirus COVID-19 Pandemic WARNING! Sheffield, Manchester, Birmingham Outbreaks Probable - 16th Feb 20
iShares Nasdaq Biotechnology ETF IBB AI Mega-trend Tech Stocks Investing 2020 - 15th Feb 20
Gold Stocks Still Stalled - 15th Feb 20
Is The Technology Stocks Sector Setting Up For A Crash? - 15th Feb 20
UK Calm Before Corona Virus Storm - Infections Forecast into End March 2020 - 15th Feb 20
The Growing Weaponization of Space - 14th Feb 20
Will the 2020s Be Good or Bad for the Gold Market? - 14th Feb 20
Predictive Modeling Suggests Gold Price Will Break Above $1650 Within 15~30 Days - 14th Feb 20
UK Coronavirus COVID-19 Infections and Deaths Trend Forecast 2020 - 14th Feb 20
Coronavirus, Powell and Gold - 14th Feb 20
How the Corona Virus is Affecting Global Stock Markets - 14th Feb 20
British Pound GBP Trend and Elliott Wave Analysis - 13th Feb 20
Owning and Driving a Land Rover Discovery Sport in 2020 - 2 YEAR Review - 13th Feb 20
Shipping Rates Plunge, Commodities and Stocks May Follow - 13th Feb 20
Powell says Fed will aggressively use QE to fight next recession - 13th Feb 20
PALLADIUM - THIS Is What a Run on the Bank for Precious Metals Looks Like… - 13th Feb 20
Bitcoin: "Is it too late to get in?" Get Answers Now - 13th Feb 20
China Coronavirus Infections Soar by 1/3rd to 60,000, Deaths Jump to 1,367 - 13th Feb 20
Crude Oil Price Action – Like a Coiled Spring Already? - 13th Feb 20
China Under Reporting Coronavirus COVID-19 Infections, Africa and South America Hidden Outbreaks - 12th Feb 20
Will USD X Decline About to Trigger Precious Metals Rally - 12th Feb 20
Copper Market is a Coiled Spring - 12th Feb 20
Dow Theory Stock Market Warning from the Utilities Index - 12th Feb 20
How to Get Virgin Media Engineers to FIX Hub 3.0 Problems and NOT BS Customers - 12th Feb 20
China Under Reporting Coronavirus COVID-19 Infections by 66% Due to Capacity Constraints - 12th Feb 20
Is Coronavirus the Black Swan That Takes Gold To-Da-Moon? - 12th Feb 20
Stock Market 2020 – A Close Look At What To Expect - 12th Feb 20
IBM AI Mega-trend Tech Stocks Investing 2020 - 11th Feb 20
The US Dollar’s Subtle Message for Gold - 11th Feb 20
What All To Do Before Opening A Bank Account For Your Business - 11th Feb 20
How and When to Enter Day Trades & Swing Trade For Maximum Gains - 11th Feb 20
The Great Stock Market Dichotomy - 11th Feb 20
Stock Market Sector Rotation Should Peak Within 60+ Days – Part II - 11th Feb 20
CoronaVirus Pandemic Stocks Bear Market Risk 2020? - Video - 11th Feb 20

Market Oracle FREE Newsletter

Nadeem Walayat Financial Markets Analysiis and Trend Forecasts

Moody’s Downgrades Hong Kong Over Snowden

Politics / GeoPolitics Jun 25, 2013 - 06:20 PM GMT

By: Patrick_Henningsen

Politics

Yesterday the world made some sense, but then you wake up today and realise how far-reaching the international white collar mafia truly is…

International financial ratings agency Moody’s is not known for being a political enforcement arm of Washington DC… until now that is.



In a move which sets a dangerous precedent of politicizing the world’s markets, Moody’s just made an aggressive move towards global financial warfare between Washington and China, and perhaps the rest of the world as well – by downgrading 9 major Hong Kong banks today.

That will wipe a lot off money off a lot of wealthy investors’ balance sheets.

So Hong Kong authorities would not to honor U.S. requests to arrest the fugitive Snowden, and then this happens.

Just a coincidence? Hardly. Ratings agents appear to have gotten the call from upstairs. This, it seems, is Washington’s last desperate effort to flush out its latest public relations nemesis – the 29 year old NSA whistleblower Ed Snowden.

Hong Kong’s economy is booming at present and its banks remain among the highest-rated banks globally, backed by solid levels of capitalization. Hong Kong’s financial wealth is historically linked to Great Britain, so this latest spat reinforces the narrative that the British-hatched Snowden crisis could be a behind the scenes battle between elites in the UK who want intervention in Syria and those in the US who don’t.

The Snowden affair is being used to set a whole new raft of measures not seen before – which makes us us all the suspicious about the timing and the nature of of this latest international whistleblower – who, like Bradley Manning, hasn’t leaked anything that we didn’t already know.

Many already know that Moody’s and the rating gangs are corrupt and work hand in hand – as they did in the subprime mortgage theft, with their partners in crime at the major banks. What happens when international finance goes fully political? History tells us that a world war beckons.

Regardless, it’s just another reason for the rest of the world to lose faith in the a highly rigged global financial system run out of New York and London… 
.

Rating Action: Moody’s takes rating actions on nine Hong Kong banks

Hong Kong, June 24, 2013 - Moody’s Investors Service has changed the outlooks for the bank financial strength ratings (BFSRs)/Baseline Credit Assessments (BCAs) of eight Hong Kong banks to negative from stable, and one bank’s BFSR outlook to stable from positive.

In addition, Moody’s has lowered Wing Lung Bank’s BFSR by one notch, and affirmed all other ratings of the nine banks.

Moody’s has affirmed the deposit ratings of all the nine banks involved in this rating action. However, it has changed the outlooks on the deposit ratings for five of the nine banks concerned to negative from stable, while those for the other four banks are unchanged at stable. Please click here for a list of the affected credit ratings. http://www.moodys.com/viewresearchdoc.aspx?docid=PBC_155742. This list is an integral part of this press release and identifies each affected issuer.

RATINGS RATIONALE

The rating actions follow Moody’s decision to revise the outlook for Hong Kong’s banking system to negative from stable.

The change in the banking system outlook reflects the agency’s concerns regarding persistent negative real interest rates and potential property bubbles in Hong Kong, as well as Hong Kong banks’ growing exposures to Mainland China. These factors could result in adverse operating conditions for Hong Kong banks over the outlook horizon…

Read more

Editor Patrick Henningsen

21st Century Wire

© 2013 Copyright Patrick Henningsen - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

Patrick Henningsen Archive

© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules