Saturday, June 13, 2015

HSBC and the world’s oldest drug cartel

OWP
HSBC’s core values are under scrutiny.  The bank has been implicated in one scandal after another, and  the current leadership claims to be wanting to restore the bank’s reputation.  But what reputation do they aim to restore?  Is it the airbrushed version of a bank rooted in “Scottish banking principles”, or is it an altogether darker reputation reflecting HSBC’s original role as a source of funding for the giant trade of opium into the Chinese markets in the nineteeth century?  As one blogger, based in Rochester, USA, put it in 2013: “When HSBC executives were caught late last year financing the Mexican and other drug cartels, they were returning to the company’s historic roots.”
As this article from Le Monde Diplomatique explains, HSBC was founded after the second of the Opium Wars, by which time the trade was already well established.  The founders included several opium traders who recognised the profitable banking opportunities presented by the new market.  As Le Monde Diplo explains:
Another Scotsman, Thomas Sutherland, had joined P&O. He devoted his career to the company, worked on the construction of new wharves in Hong Kong and became the Hong Kong superintendent of P&O as well as the first chairman of Hong Kong and Whampoa Dock in 1863. Opium made up 70% of maritime freight from India to China, where it was sold to the Chinese by British compradores, despite all efforts by the Chinese authorities to stop it.
Sutherland understood that the time was right for a commercial bank. In 1865 he and a few others founded the Hong Kong and Shanghai Banking Corporation. The board was chaired by Francis Chomley, and included the remarkable Thomas Dent, founder of Dent & Co. In 1839 a senior Chinese government official, Lin Zexu, known for his competence and moral standing, issued a warrant for Dent’s arrest in an attempt to close his warehouses, which infringed the Chinese ban on opium. That helped trigger the first opium war, which ended in August 1842 with the unequal treaty of Nanking.
After the second opium war (1856-60), the British and French imposed territorial concessions under foreign administration, the opening of Chinese ports to foreign trade and the legalisation of the opium trade. When Sutherland began the Hong Kong and Shanghai Banking Corporation, the conflict had been over for five years. The Chinese characters in the transliteration of its name are auspicious, and can be understood to mean gathering wealth.
HSBC’s first wealth came from opium from India, and later Yunan in China.
Winston Churchill famously wrote that history is written by the victors, which might explain why so little attention is paid in Britain to the infamous Opium Wars of the nineteenth century, which saw the Brits using their superior naval power to open up ‘free trade’ with China.  Opium — sourced initially from India — was by far and away the largest product traded by British merchants in return for Chinese silks, tea and porcelain.  Facing understandable resistance from Chinese Emperor Tao Kuang and Lin Tse-hsu, his governor-general of the Liang Hu vice-regency, who was determined to stifle opium trade in his province, the British merchants resorted to violence to destroy the Chinese ability to impose their own laws and social protections. As Rolling Stone’s Matt Taibbi put it:
If you’re rusty in your history of Britain’s various wars of Imperial Rape, the Second Opium War was the one where Britain and other European powers basically slaughtered lots of Chinese people until they agreed to legalize the dope trade (much like they had done in the First Opium War, which ended in 1842).
Opium trading was crucial to the British economy at that time.  Some have interpreted the Opium Wars as being primarily rooted in an ideological struggle between British economic liberals and Chinese protectionists, but Julie Lovell’s interpretation of the driving forces is probably closer to the truth:
In light of the British addiction to Chinese exports . . .  opium was the only commodity that saved the British balance of payments with Asia from ruinous deficit. Marchant argues that mid-century British merchants in China believed that a ‘just war’ should be fought to defend progress. In reality the British leaders of the opium trade through the 1830s and 1840s were far more interested in protecting their drug sales in order to fund lucrative retirement packages (one of their number, James Matheson, used such profits to buy a seat in Parliament and the Outer Hebridean island of Lewis).
For how much of the time since its inception has drugs money run through HSBC’s veins? You decide.
http://www.taxjustice.net/2015/02/27/hsbc-and-the-worlds-oldest-drug-cartel/

17 comments:

Henry said...

Cameron's great-grandfather headed HSBC when it involved itself in Schiff's conspiracy to fund the Japanese in their war against Tsarist Russia.

Also involved in that sordid business was his maternal great-grandfather, the Jew, Levita.

Anonymous said...

Zionists In Europe, creating a post-gender world one small rule at a time.


http://www.washingtonpost.com/world/europe/the-remarkable-ways-europe-is-changing-how-people-talk-about-gender/2015/06/12/af435d48-0df0-11e5-a0fe-dccfea4653ee_story.html?hpid=z1

Anonymous said...

Islamic scriptures ‘should be put up in Sheffield suburb to tackle yobs’


http://www.thestar.co.uk/news/islamic-scriptures-should-be-put-up-in-sheffield-suburb-to-tackle-yobs-1-7302746

Anonymous said...

US Planned War on Terror in 92 Countries Four Days After 9/11.



Read more: http://sputniknews.com/military/20150613/1023305048.html#ixzz3cxmLdArR

Anonymous said...

The Academy Awards or The Anti-White Awards?


http://theendofzion.com/2014/03/07/the-academy-awards-or-the-anti-white-awards/

Anonymous said...

6 Million How the "Holocaust" was faked.


http://www.therealistreport.com/2015/06/6-million.html

Anonymous said...

The Psychology of an Ethnic Fraud: Behind Rachel Dolezal’s Invented Persecution.



http://www.thedailybeast.com/articles/2015/06/13/the-psychology-of-an-ethnic-fraud-behind-rachel-dolezal-s-invented-persecution.html

Anonymous said...

Far-Right Groups Organize Third Protest Against Mosque Building in UK



Read more: http://sputniknews.com/europe/20150614/1023334911.html#ixzz3cz63tfDl

Anonymous said...

500 years ago the Pope of Rome made possible the beginning of the rule of the Money Power over the West.


http://revisionistreview.blogspot.co.uk/2015/05/may-4-1515-reign-of-loansharks-begins.html

Anonymous said...

Custody Case Exposes Society's Gender Idiocy.



http://henrymakow.com/

Anonymous said...

Tony Blair lobbied Treasury minister on behalf of Arab state

Questions over former PM's talks with Treasury minister before a £1 billion property deal was signed with Abu Dhabi equity group.


http://www.telegraph.co.uk/news/politics/tony-blair/11673349/Tony-Blair-lobbied-Treasury-minister-on-behalf-of-Arab-state.html

Anonymous said...

WHAT THE HELL IS ZIONIST LAWRENCE FREEDMAN BLAIR'S FOREGIGN AFFAIRS ADVISER (1997 to 2007) DOING ON THE CHILCOT INQUIREY ???

‘The Chilcot report has taken six years and cost £10m but is “unlikely to be published for another year at least”, according to sources close to the inquiry.

The Independent on Sunday understands the inquiry is still asking the Cabinet Office to declassify documents, suggesting that the report into the Iraq war is still being written.

David Cameron is now under pressure to scrap the inquiry. Lord Morris of Aberavon, a Labour former Attorney General, has asked the Prime Minister to assess “the case for discharging the Chairman and members of the Chilcot inquiry, and inviting the Cabinet Secretary to set out a mechanism for an interim report to be produced on the basis of the evidence gathered”.

Anonymous said...

THE RAPE OF RUSSIA.


http://www.tomatobubble.com/id563.html

Anonymous said...

UK waterpark bans bikinis and orders visitors to wear 'Islamically appropriate' clothes

A BRITISH waterpark has sparked fury by banning bikinis and ordering visitors to cover up in "Islamically appropriate" clothing.

http://www.express.co.uk/news/uk/584338/WaterWorld-Stoke-on-Trent-Muslim-Islam-waterpark-women-only-bikini-ban-clothing-veil-burqa

Anonymous said...

Germany 'Still Occupied' by US – Ex-Chief of Austrian Intelligence



Read more: http://sputniknews.com/politics/20150614/1023344263.html#ixzz3d5Ih71EA

Anonymous said...

White Scum Bag Rachel Dolezal, civil rights activist, quits NAACP after 'black' row.




http://www.bbc.co.uk/newsbeat/article/33137722/rachel-dolezal-civil-rights-activist-quits-naacp-after-black-row

Anonymous said...

Re: 13 June 2015 at 16:49


commenter here
http://northwestnationalists.blogspot.com.au/2015/06/bilderberg-2015-where-criminals-mingle.html
kindly suppies link to here
http://shoebat.com/2014/12/02/just-came-muslims-conduct-mass-beheading-session-create-huge-puddle-blood/
wherein


"The punishment of those who wage war against Allah and His Messenger, and strive with might and main for mischief through the land is: execution, or crucifixion, or the cutting off of hands and feet from opposite sides, or exile from the land: that is their disgrace in this world, and a heavy punishment is theirs in the Hereafter." (Koran 5:33)

"I will instill terror into the hearts of the unbelievers: smite ye above their necks and smite all their finger-tips off." (8:12)

Or a judicial birching, reintroduced for high testosterone, lo-IQ ne'er-do-wells, as Lord Parker, the Lord Chief Justice, proposed 50 years ago.
Better still, apply the brush first to the disease, the traitor-dog politicos; then to the symptoms.


http://www.balderexlibris.com/index.php?post/Jacob-Anthony-White-man-Think-again



Neo-Nazi and National Front organiser comes out as gay and reveals his Jewish heritage as he quits far right Kevin Wilshaw was a National...