jan 1, 1865 - HSBC| Establishment

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It was set up in 1865 to enforce or manage the opium trade, to destroy China. HSBC was found
guilty and slapped on the wrist with a certain fine of $1.9 billion. They were allowed to appoint
their own auditor to sit there for five years. And they’re still doing what they do. They have a
huge stake in Air Canada. Anybody who takes a plane to Canada will see HSBC signs
everywhere. That is a huge piece of infrastructure as part of the silver triangle that’s been
underway for the whole of the 20th century.
You have the picture of the Queen at Coutts. That’s the Queen’s personal bank, which was also
in 2012 found guilty of drug money laundering. It paid its own little $10 million fine, and the bad
publicity results in the bank’s offshore accounts that were conducting the laundering to be sold
off to the Royal Bank of Canada, which currently conducts the same operations.

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