The Phaserl


Is Hong Kong-US Dollar Link About To End? HKMA Buys $715 Million To Support Peg

from Zero Hedge:

Yesterday saw something quite unusual in the New York trading session. The Hong Kong Monetary Authority bought $715 million (selling HKD) in the FX markets to manage its currency peg, injecting the money into the banking system (and expanding its balance sheet) to prevent HKD from rising above its permitted range. HKMA projects its balance sheet to grow to the end of July, but as Simon Black (of Sovereign Man blog) notes, this could well be the start of a bigger shift – an end to the US Dollar peg“The US is no longer the undisputed superpower it once was. The US dollar is dragging them down. Hong Kong is easily strong enough to stand on its own.”

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1 comment to Is Hong Kong-US Dollar Link About To End? HKMA Buys $715 Million To Support Peg

  • Kimo

    Being that the American Politician(s) are so corrupt and the American Sheeple are only into what they want out of every day life: American Idol, Dancing w/ The Stars, The Voice, The Kardashian’s, Real Housewives etc…No one is really paying attention to the Biblical events, which is and has been unfolding in front of us. Please keep these corrupt politicians and Hawaiians and the island of Oahu and the Punahou Alumni should be ashamed of what has happened to this once beloved country. We are being infiltrated by illegals of all sorts.

    So what Hawai’i how you feeling about this braddah now? When people think Hawaii they think? Duh so he American Citizen Huh?

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