Unveiling the HSBC-SVB Deal: A British-Chinese Banking Coup with Intriguing Gold Connotations and Historical Echoes
British-Chinese bank HSBC acquires Silicon Valley Bank’s British arm for £1. One of the most fascinating aspects is the purchase of SVB by HSBC. While the bank is “Chinese,” its primary and most important base is in London. And there’s no doubt that the Americans specifically approved (the regulator) this deal. This bank is highly […]
Economic Rubik-kocka: Recession and Inflation Pressure Economy and Forint
Hungary is grappling with a double challenge as its economy enters a fourth consecutive quarter of recession while grappling with soaring inflation. The GDP contracted by 0.3% quarter-on-quarter and 2.4% annually, marking the longest such downturn since 1995. Industries and market-based services saw contractions, though agriculture provided some relief. The disappointing results have led to […]
BRICS Currency vs. Dollar Dominance: A Reality Check
The notion of a BRICS currency replacing the US dollar has been dismissed as “ridiculous” by the economist who coined the term “BRICs” (Brazil, Russia, India, China, South Africa) in 2001. Lord Jim O’Neill, the former Goldman Sachs economist, stated that a common currency for the five divergent economies would be unfeasible. While some BRICS […]