HSBC provide custodial (vaulting) for the largest Silver ETF in the UK, PHAG. I have long suspected they rehypothecate this metal including shorting Comex while telling regulators they have "physical in storage" which is lies of course as the PHAG metal does not belong to HSBC. The regulators are corrupt to the core, likely following instructions from US govt/ESF/Fed. A good regulator would look at inflows to PHAG and cross reference with HSBC Comex activity for any correlation.
The key to understanding this is solar. China dominates the solar industry (90%) and their technology was based on silver (dumb) a precious metal. Should it revalue with gold the industry would be worthless. Clearly US has climate change initiatives and believe solar and a partnership with China to tackle it possible. I know I used to work at First Solar in US. I’m telling you if silver revalues the solar industry would be decimated. It’s going to happen so China is hedging their bets as you say.
And hsbc ceo axed. Connection?
We may get a hint at the reason when we see who the replacement is.
That's what I was thinking. Customers won't be happy when they find out all their silver is gone
HSBC provide custodial (vaulting) for the largest Silver ETF in the UK, PHAG. I have long suspected they rehypothecate this metal including shorting Comex while telling regulators they have "physical in storage" which is lies of course as the PHAG metal does not belong to HSBC. The regulators are corrupt to the core, likely following instructions from US govt/ESF/Fed. A good regulator would look at inflows to PHAG and cross reference with HSBC Comex activity for any correlation.
The key to understanding this is solar. China dominates the solar industry (90%) and their technology was based on silver (dumb) a precious metal. Should it revalue with gold the industry would be worthless. Clearly US has climate change initiatives and believe solar and a partnership with China to tackle it possible. I know I used to work at First Solar in US. I’m telling you if silver revalues the solar industry would be decimated. It’s going to happen so China is hedging their bets as you say.