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Financial System
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Continue ReadingJust like the good ol’ days, Russia is now a useful ‘enemy’ being used to justify whatever needed from Washington, whether it be more money for NATO expansion, more spying powers on the domestic population, or more reason to justify the USA’s generally…
Continue ReadingSummaryThere’s an unlikely, but possible scenario in Britain, where politicians would not enact article 50.If Britain doesn’t Brexit – what would happen? A GBP reversal?Confusion exists about where politicians stand on this issue.Something not talked a…
Continue ReadingForex is a Monopoly, controlled by a small ‘cartel’ of big banks. That’s changing, and changing fast – as a number of non-bank FX participants are replacing the traditional ‘big 12.’ As we explain in Splitting Pennies – the fact remain…
Continue ReadingUS lawmakers dropped a nuclear bomb on the Forex industry called “Dodd-Frank” which implemented a series of rules and regulations that killed all life in the budding Forex industry, in USA. We explain this is detail in Splitting Pennies – Un…
Continue ReadingWhether you know it or not, everyone is a Forex investor. As we explain in Splitting Pennies – Understanding Forex – just by going grocery shopping, you’re trading Forex. If you use US Dollars, you are trading Forex. If you …
Continue ReadingJohnson is global head of foreign exchange cash trading at HSBC, based in London. Prior to joining HSBC in 2010, he was founding managing partner and chief investment officer at Johnson Stewart Partners. Before that, he was global head of trading at Deutsche Bank.
Mark Johnson, HSBC’s global head of foreign exchange cash trading in London, was taken into custody at John F. Kennedy International Airport Tuesday and is scheduled to appear before a judge in federal court in Brooklyn Wednesday morning, said the people, who asked not to be named because the case hasn’t been made public. He’s charged with conspiracy to commit wire fraud, the people said.According to Bloomberg, Johnson’s arrest comes more than a year after five global banks pleaded guilty to charges related to the rigging of currency benchmarks. HSBC, which wasn’t part of those criminal cases, in November 2014 agreed to pay $618 million in penalties to U.S. and British regulators to resolve currency manipulation allegations. HSBC, which still faces investigations by the Justice Department and other authorities for the conduct, has set aside $1.3 billion for possible settlements, according to an August filing.Rob Sherman, an HSBC spokesman, and Peter Carr, a Justice Department spokesman, declined to comment.
Some of Russia’s coins are now worth less than their metal values.
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