HSBC’s Long History of Drug Money Laundering

In my previous post, Obama Campaign Getting Mexican Drug Money?, I talked about the

HSBC Headquarters in Shanghai

money laundering of the HSBC bank and Obama. I wanted to add a little more about this bank and how it started because it’s relevant to drug money laundering today. The business practices, apparently, haven’t changed that much in almost two hundred years.

Founded in 1865 as the Hong Kong and Shanghai Banking Corporation (aka Hong Shang) to run Britain’s opium trade. At the height of the British Empire in the late 1800s, about 60% of the income of the Empire was from opium trafficking.

Britain administered Shanghai after the Opium Wars in 1842. It was during this time that the word “Shanghaied” came into being when men would disappear off the streets of Shanghai, after being drugged, and get impressed into naval service. At one point after the opium wars, about 10% of the population of Shanghai was addicted to opium, a guaranteed income source for the British royal family.

Main HSBC building in Hong Kong

You need a bank to handle the finances of such a lucrative “business” and the Hong Shang was set up to do just that. It seems that HSBC hasn’t changed much in, well, coming up on two centuries now. It still, apparently, handles the money from drugging populations and destroying lives in this new “opium war” to our south.

Although the British dominated the opium trade at that time, they were not the only ones involved. There were many wealthy New England families, known as the Boston Brahmins, such as Forbes, Perkins and Hutchinson, among others, getting their piece of the opium trafficking pie. Those same families set up a bank to handle their money as well, the Bank of Boston, which has been caught laundering drug money also.

It seems that the tiger never changes his stripes.  Did you know about the history of HSBC bank?

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