"By law, when you put your money into a deposit account, your money becomes the property of the bank. You become an unsecured creditor with a claim against the

"By law, when you put your money into a deposit account, your money becomes the property of the bank. You become an unsecured creditor with a claim against the bank." Source: Depositors Beware: Theft is Legal for Big Banks, and Your Money Will Never Be Safe (May 01, 2013) http://www.globalresearch.ca/depositors-beware-theft-is-legal-for-big-banks-and-your-money-will-never-be-safe/5333631 http://www.globalresearch.ca/depositors-beware-theft-is-lega... HSBC is a criminal bank. Here are a few more reasons why: 1. They were caught "transferring funds on the behalf of financiers for the militant group Hezbollah." Source: HSBC Gets Small Fine For Terrorist Transactions (12/18/2013) http://www.huffingtonpost.com/2013/12/18/hsbc-terrorists_n_4467329.html http://www.huffingtonpost.com/2013/12/18/hsbc-terrorists_n_4... 2. HSBC laundered $881 million for Mexican and Colombian drug cartels. Source: HSBC Became Bank to Drug Cartels, Pays Big for Lapses (Tuesday, 11 Dec 2012) http://www.cnbc.com/id/100303180 http://www.cnbc.com/id/100303180 3. "HSBC profited nicely from the bailout of AIG." Source: HSBC received $3.5 Billion of AIG bailout money (1 October, 2009) http://hsbcwatch.com/hsbcnews/news/hsbc-received-35-billion-of-aig-bailout-money http://hsbcwatch.com/hsbcnews/news/hsbc-received-35-billion-... 4. This analysis suggests HSBC is 64% likely to go bankrupt in the next two years: http://www.macroaxis.com/invest/ratio/0005.HK--Probability-Of-Bankruptcy http://www.macroaxis.com/invest/ratio/0005.HK--Probability-O... In the 90s, I was a VP for a Wall St. Mortgage Bank. The culture there is very corrupt. IMHO, you'd be better off keeping your money hidden in your mattress, using it to buy physical gold, or converting it bitcoins than keeping it in a big bank. I predict that the next time the financial system collapses, the banks will be "bailed in." In other words, governments are already too deeply in debt to afford to bail out the banks again. Instead, the banks will simply seize their depositors' money, perhaps issuing them stock in the bank in exchange. This is what already happened in Cyprus. And HSBC may very well be testing the waters to see how feasible it is to confiscate their depositors' cash in the UK and US, given how close they are to bankruptcy.