Saturday, November 1, 2014

HSBC to set aside £400m for forex probe

Sent: Saturday, November 1, 2014 8:55:09 AM
Subject: Fwd: HSBC BANK TO SET ASIDE 640 MILLION FOR FINES IN FOREX PROBE (ILLEGAL CURRENCY MANIPULATION)

fyi






HSBC to set aside £400m for forex probe

Martin Arnold in London
HSBC is expected to set aside about £400m ($640m) to cover the cost of an investigation into suspected manipulation of foreign exchange markets when it reports third-quarter results on Monday.
The move would take to $5.6bn the total value of litigation and conduct charges taken by the six banks engaged in talks with the UK Financial Conduct Authority and other regulators about their forex inquiries.
UBS, JPMorgan Chase, Citigroup, Royal Bank of Scotland and Barclays – the five other banks that are in talks about a simultaneous settlement with the FCA in November – have already taken provisions for this issue.

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On this topic

IN Banks

HSBC declined to comment. Its charge is expected to be similar in size to the £400m provision announced by RBS on Friday, according to people familiar with the matter. Citi and Barclays this week recorded provisions of $600m and £500m respectively for their impending forex settlements.
Earlier in October, JPMorgan and UBS set aside $1bn and $2bn respectively, much of which was estimated by analysts to be related to the claims that their investment bankers might have manipulated the $5.3tn-a-day forex market.
HSBC will add its charge for a potential settlement of the forex investigation to a list of litigation and conduct provisions that is likely to exceed $1bn. These will include the $550m it agreed to pay in September to settle allegations from a US government agency that it mis-sold mortgage-backed securities in the run-up to the financial crisis.

In depth

Forex trading probes
Foreign exchange trading probes
After the manipulation of Libor is rigging foreign currency markets the next big scandal to hit some of the world’s biggest banks?

Further reading
It is also expected to put aside another provision to cover compensation it is paying to its UK customers for mis-selling payment protection insurance, adding to existing provisions on this issue of $3.35bn.
The FCA has written to the six banks in the past few weeks, accusing them of system and control failures in their foreign exchange businesses and setting a November deadline for final negotiations, according to people familiar with the matter. The simultaneous settlement with the FCA could lead to fines totalling £1.5bn.
There are separate investigations, and the prospect of additional financial penalties, in other countries, including by the US Department of Justice. Citi noted that it was being investigated by the criminal and antitrust divisions of the Department of Justice and the Commodity Futures Trading Commission, as well as the Swiss Competition Commission.
HSBC signed a five-year deferred prosecution agreement (DPA) with US authorities in 2012 after admitting that it processed drug trafficking proceeds through Mexico and transmitted funds from sanctioned countries including Iran. The DPA puts it at risk of a criminal conviction and potential loss of its crucial US banking licence if it commits another crime in that period.
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9 Spoonfuls Great for Health and Weight Loss

 9 Spoonfuls Great for Health and Weight Loss

Taking care of our bodies is all about small, incremental steps. If  you want to start on a healthier path in life, or boost your already-healthy one, the best way to do that is to introduce little changes in diet and activity. To help facilitate those changes, especially when we want to lose weight, there are a number of super-substances that both make you healthier and help you lose weight quickly and safely. Just a spoonful of these a day can work wonders.
For a Balanced Blood Sugar Level: 1 spoonful of apple cider vinegar
Apple cider vinegar has many uses, not only around the house but also for the body, both on the outside as well as in. By adding a teaspoonful of it to a 12 ounce glass of water you'll be adding a great array of nutrients to just slacking your thirst. This will also help to keep your blood sugar levels in check. 

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For proper digestion: 1 spoonful of raw organic honey 
Honey, namely unprocessed honey, has many antioxidants and important enzymes that help boost our health. Sadly, these are stripped away from most honey brands found worldwide when raw honey is made into processed honey. Raw, organic honey provides the body with thousands of different digestive enzymes that have a significant effect on our digestive system. When you look for this honey, make sure it says both raw and organic on its label. 

Not to mention, making sure your digestive system is in great working order really helps the body lose weight, and these enzymes can help you do it.

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To Suppress the Appetite: 1 spoonful of coconut oil
Coconut oil has been heralded as incredibly helpful for weight loss. It's funny, because it has a relatively high level of saturated fat, but it's not the bad kind, and it also contains many healthy fats our body requires. The fatty acids will help you feel full while your metabolism actually increases so you naturally burn fat.



For much needed antioxidants and vitamins: 1 spoonful of thyme
When we're trying to get healthy, it's important to find substances that are both chalk full of benefits while at the same time not revulsive to our sense of taste. Thyme is a perfect example of a seasoning you can cook with or add to a beverage like tea. It's coupled with chicken breasts many a time, also lean turkey breast. Thyme will enhance the flavor of these simple proteins while adding a cartload of antioxidants as well as helping you lose weight. 

Thyme is not only tasty, but contains many of the antioxidants, minerals and vitamins your body's cells need to stay protected from damage and with the stress of losing weight. In addition, it's a diuretic, which will help release stored up water weight and flush out toxins. What's not to love? 

thyme


To Aid in Weight loss: 1 spoonful of ginger
This is a spice that targets fat specifically, not just boosts weight loss. That's important because, when losing weight, you want to know you're burning excess fat and not just water weight.

Just a teaspoon or tablespoon of ginger added to a dish will give you the benefits you need from it. It can add some spice to a bowl of chili or soup, and even added some punch to your smoothie.

Ginger works in two ways. The first is that it improves out digestion, which alone helps losing weight. The second is by boosting your natural metabolic rate, which means you'll be burning more calories per hour - leading to weight loss.


For a double-shot of Antioxidants: 1 spoonful of Turmeric
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Turmeric is usually seen used in Indian cuisine, especially in curry. It is known for its bright yellow/orange color and has a distinct flavor. It also contains an active ingredient called Curcumin, which holds incredible health benefits.

A spoonful of turmeric (or better yet, a spoonful or curcumin powder) will add many antioxidants to your system, burn fat, help your heart and blood flow, and is an incredible agent in the fight against disease and infection, as well as being an anti-inflammatory agent. Add it to lean meats to enhance both flavor and health.

You can find out more about the incredible benefits of curcumin here


For essential Omega-3: 1 spoonful of flaxseed
Flax not only helps you feel full, able to wait patiently for your next meal, it also contains fiber you need to lose weight. But the most important part is the omega-3s flaxseeds are full of. You'll be surprised how better you feel with these in your system.

Omega 3 reduces the amount of dangerous fats in your blood, lowers depression (or boosts the performance of anti-depressants), has anti-inflammatory properties, helps with asthma and helps to prevent cognitive degenerative  such as Alzheimer's and dementia.

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To Boost the Immune System: 1 Spoonful of Lemon Juice 
Known for their astringent properties as cleaning products, this same power to clean can also help you lose weight, feel good and be healthier. 

A spoonful of lemon juice added to some hot water first thing in the morning will give you a vitamin C blast that will carry you well throughout the day, cleansing while energizing you. It does wonders for your overall health and boosts your immune system to stay more active and fighting. It also help weight loss because vitamin C directs your body to burn fat rather than store it.

You can find out more about the beneficial powers of lemon waterhere.


For essential healthy fats: 1 spoonful of mashed avocado
Avocado is a refreshing and tasty fruit, and, when added to a breakfast smoothie, can be an incredibly healthy snack or garnish. Since it's soft, mashing it will make it very easy to munch and a spoonful will give put you ahead on the amount fiber you need for the day. The avocado is filled with healthy fats that help you burn fat faster as well as lots of potassium, which is great when trying to lose weight.

Image courtesy of: Naito8, Pixomar, artur84 / freedigitalphotos.net

30 Songs That Make Us Feel Happy!

30 Songs That Make Us Feel Happy! 

The power of music to make us feel is among the strongest powers I know in this world. The right song, the right melody and words, can make us feel happy, sad, uplifted or joyous. What better way to feel great than putting on that song we love so much, that reminds us of beauty, love, happiness and our own body's need to move in rhythm?
From Bobby McFerrin to Stevie Wonder, From Beethoven to the Rolling Stones, from Louis Armstrong to Paul Simon.  This is the list you want to listen to when you need to feel happy inside.  

Instructions: Just click on the on the song name, and you'll be able to watch the performance on THIS page without having to open a new window. Enjoy these happy, beautiful tunes and share with those you want to make happy as well!  


Israel "IZ" Kamakawiwoʻole
Bobby McFerrin
Louis Armstrong
R.E.M
Tom Jones
Edwin Hawkins Singers
Katrina & The Waves
Turtles
U2
The Rascals
Beethoven
Jackie Wilson
The Four Tops
Stevie Wonder
Pharrell Williams
The Rolling Stones
John Denver
Charlie Rich

Wham!
Van Morrison
Queen
Three Tenors
Paul Simon
The Beatles

Johnny Mercer 
Frank Sinatra
Neil Diamond
Burt Bacharach
Dexys Midnight Runners
The Cure


US Destroying Syria’s Oil Infrastructure Under Guise of Fighting ISIS

01.11.2014 Author: Maram Susli

US Destroying Syria’s Oil Infrastructure Under Guise of Fighting ISIS

34242342The US is considering bombing pipelines in Syria, which it claims is in an attempt to cut off the huge profits being made by ISIS from captured oilfields. 
The Independent quotes Julieta Valls Noyes, the deputy assistant secretary for European and Eurasian Affairs during a visit to London, that ISIS was making $2 million a day off oil sales and that the US would consider airstrikes as well as “kinetic strikes against some pipelines” and “actual physical action to stop the flow”.
The trouble with this justification for destroying Syria’s oil pipelines, is that ISIS does not have the capability to use the pipelines to transfer oil. ISIS transports the stolen oil on the back of trucks, and sells it on the black market in Turkey.
This is admitted in the same Independent article that quoted Ms. Noyes.
The Independent claims:
Isis has sold some of the fuel from seized facilities back to the Damascus regime through local deals, while shipments had been sent into Turkey for the black market, with the Erdogan government accused of turning a blind eye to the illicit transactions. 
If the US truly intended to stop ISIS oil profits, they would bomb these oil convoys, which are easily spotted via conventional surveillance flights already allegedly taking place as part of ongoing Western operations. The US agenda behind destroying Syria’s pipelines has very little to do with ISIS oil profits, and far more to do with destroying Syria’s oil infrastructure.In fact, the statistic that ISIS is making 2 million dollars a day from the sale of crude oil is an estimate from a single consulting company (IHS) based in Colorado in the United States. The US administration is choosing to quote this as if it were without a shred of doubt. It’s far more likely that the scale of the profits has been overblown to deflect from the fact that ISIS is receiving funding from state actors such as Turkey, Qatar and other Persian Gulf states, while at the same time providing an excuse to target Syrian infrastructure.
Earlier last month the US-led airstrikes on Syria and Iraq supposedly destroyed small oil refineries in Raqqa. No effort was made to prove whether or not ISIS was in fact capable of using Syria’s oil refineries. In fact the same consulting company which the US administration is quoting about ISIS oil profits (IHS), states that ISIS is selling unrefined crude oil. The IHS adds the caveat that this estimate was made before ‘US airstrikes’ eluding to the notion that US airstrikes have had an effect on ISIS oil profits. However, the Britain based pro-insurgency Syrian Observatory for Human Rights, which was the West establishment-run media’s most reliable source years into the Syrian crisis, said that the oil refineries were not real targets and were not being used by ISIS.
Reuters would report:
These so-called refineries are not a real target and they do not weaken the Islamic State as they do not have any financial value for them,” Rami Abdel Rahman of the Observatory told Reuters. “They are composed of trucks with equipment to separate diesel and petrol used by civilians.
Syria’s two main oil refineries are known to be in Homs and Banyas, not anywhere near Raqqa. The US Declaration that they are destroying ISIS makeshift refineries, is all smoke and mirrors, and will probably be used as a justification to destroy more of Syria’s infrastructure in future.
The destruction of Syria’s oil infrastructure would also open the door for US and UK oil companies to win contracts to rebuild it, paid for in debt, by the Syrian state. Foreign companies running Syria’s oil and gas production would prevent Syria from nationalising their own resources and becoming an independent prosperous country. This would result in the basic enslavement of the country while mitigating the threat it poses to US client states including Israel, Saudi Arabia and Turkey.
Pipe Dreams 
18_bThere is more to the US objectives than profiting off of Syria’s oil. The US also seeks to control the flow of oil and its sale to other nations, which is a far more important in achieving global hegemony. Their objective may also have more to do with Iran and Russia’s gas reserves than it does Syria’s oil.
In 2009 … Assad refused to sign a proposed agreement with Qatar that would run a pipeline from the latter’s North field, contiguous with Iran’s South Pars field, through Saudi Arabia, Jordan, Syria and on to Turkey, with a view to supply European markets – albeit crucially bypassing Russia. Assad’s rationale was “to protect the interests of [his] Russian ally, which is Europe’s top supplier of natural gas.
Instead, the following year, Assad pursued negotiations for an alternative $10 billion pipeline plan with Iran, across Iraq to Syria, that would also potentially allow Iran to supply gas to Europe from its South Pars field shared with Qatar. The Memorandum of Understanding (MoU) for the project was signed in July 2012 – just as Syria’s civil war was spreading to Damascus and Aleppo – and earlier this year Iraq signed a framework agreement for construction of the gas pipelines. The Iran-Iraq-Syria pipeline plan was a “direct slap in the face” to Qatar’s plans. 
The planned Iran-Iraq-Syria Pipeline running through Syria’s coast and into the Mediterranean along which Russia has a presence, would allow Russian control over the tap and flow of Iran’s gas, mitigating rivalry between the countries.
Qatar’s interest in funding the insurrection, was to overthrow Syria and install a pliable opposition that would sign Qatar’s pipeline agreement. Turkey, Saudi Arabia and Jordan also had a vested interest in this plan. This suited the US objective of undercutting and weakening Russian influence over Europe.
However they also have an alternative plan for doing so. The planned Nabbaco Pipeline, running from Iran to Turkey to Europe, would directly set Iranian gas against Russian gas. Furthermore, in the absence of the successful overthrow of the Syrian government, the US has settled for destroying what it cannot control. Perpetual war and the destruction of pipelines would prevent or at least delay any possible pipeline agreement in future.
With mainstream media headlines like “US bombing ISIS pipelines” it’s easy to forget that the Pipelines and refineries the US is planning to bomb do not belong to ISIS, but to the Syrian people.
Maram Susli also known as “Syrian Girl,” is an activist-journalist and social commentator covering Syria and the wider topic of geopolitics. especially for the online magazineNew Eastern Outlook”

Human Compassion in the Face of Violence

Human Compassion in the Face of Violence

While Humans have an incredible capacity for violence and pain, they also can exhibit unimaginable acts of compassion, even at time one would least expect it. Here is an amazing series of photos, showing some of these incredible acts of selflessness and humanity.
1. An Egyptian man, thanking an army officer after the army refused to open fire on civilians (Egypt, 2011)
Human Compassion
2. Christians forming a protective circle around praying Muslims during the Egyptian revolution (Egypt, 2011)
Human Compassion
3. A wounded Australian soldier being helped by a local during World War II. (Papua New Guinea, 1942)
Human Compassion
4. Two American soldiers, comforting a little girl by giving her a puppy during World War II. (France, 1942)
Human Compassion
5. American soldier Joseph Dawyer, carrying an Iraqi child to safety. (Iraq, 2003)
Human Compassion

6. A woman, blocking the advance of a military bulldozer to save a wounded protester. (Egypt, 2013)
Human Compassion
7. An Afghani soldier removing a terrified child from the location of a terrorist attack. (Afghanistan, 2013)
Human Compassion
8. An American infantryman comforting a friend as a third is working on casualty-reports. (Korea, 1950)
Human Compassion
9. Frank Praytor of the U.S.M.C., feeding a kitten who lost its mother to a mortar attack. (Korea, 1953)
Human Compassion
10. A priest forming a human shield between police and protesters during the recent revolution. (Ukraine, 2013)
Human Compassion
11. A Ukrainian woman, giving water to a captured Soviet soldier. (Ukraine, 1941)
Human Compassion
12. Richard Barnett of the U.S. Navy, comforting a child that got separated from her family. (Iraq, 2003)
Human Compassion
13. An American soldier, running out of the battlefield to save 2 Vietnamese children. (Vietnam, 1965-1975)
Human Compassion
14. A Bosnian soldier gave his coat to keep this baby warm after being saved during the Goražde evacuation (Bosnia, 1995)
Human Compassion
15. A priest, comforting a wounded soldier in the midst of sniper fire. (Venezuela, 1962)
Human Compassion
16. Two little boys, leading a blind man through war-torn streets. (Korea, 1951)
Human Compassion
17. A soldier sharing his food and water with children. (Saipan, 1944)
Human Compassion
18. An American soldier holding the hand of a frightened Afghan girl. (Afghanistan, 2010)
Human Compassion
19. German soldiers helping out a French soldier that got stuck in a muddy ditch during World War I. (France, 1916)
Human Compassion
20. During the riots in Istanbul, protesters helped out this wounded cop and carried him to safety. (Turkey, 2013)
Human Compassion
21. American soldiers, treating a wounded dog during World War II. (Guam, 1944)
Human Compassion
22. An East-German soldier helping a little boy pass to get to his family despite orders not to let anyone through (Germany, 1961)
Human Compassion
23. A Russian policeman carrying a baby to safety from a school taken by terrorists. (Russia, 2004)
Human Compassion
24. Community members of Ferguson, Missouri, working together to prevent looting. (U.S.A., 2014)
Human Compassion
25. 18 year-old Keshia Thomas, protecting a white supremacist from protesters with her body. (U.S.A., 1996)
Human Compassion