More likely a defensive measure. Reduce exposure to the lunatic government. Hold the dollars in case China has to deal with the same SWIFT related problems Russia did. Perhaps they have a military project in mind that USG may not like.
I don't see them needing a lot of USD liquidity as a buffer just to flip the peg. They just need to be willing to have a lot of HKD holders be unhappy. But I also think this is probably way down on the priority list. Of course, I'm in America, listening to our crazy government doing and saying crazy things, so I'm more inclined to think priority number one is reduce exposure/reliance on these complete nuts.
No doubt the view is different in Hong Kong.
august / August
npub1as…7rq0s
2023-09-29 23:50:16
in reply to nevent1q…arwt
Author Public Key
npub1as28n0039nk7v29szy5vq6tgv7hmhltvewdnppxa75ht9s9xh6vsp7rq0sPublished at
2023-09-29 23:50:16Event JSON
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"content": "More likely a defensive measure. Reduce exposure to the lunatic government. Hold the dollars in case China has to deal with the same SWIFT related problems Russia did. Perhaps they have a military project in mind that USG may not like.\n\nI don't see them needing a lot of USD liquidity as a buffer just to flip the peg. They just need to be willing to have a lot of HKD holders be unhappy. But I also think this is probably way down on the priority list. Of course, I'm in America, listening to our crazy government doing and saying crazy things, so I'm more inclined to think priority number one is reduce exposure/reliance on these complete nuts.\n\nNo doubt the view is different in Hong Kong.",
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