Bloomberg: Bank run in HK
[Skip to the end] This happens all the time with fixed exchange rates and currency boards. The only way for banks to get ‘real’ (convertible) $HK for their depositors is to buy them from the monetary...
View ArticleHong Kong and deflation
[Skip to the end] The Hong Kong currency board arrangement means net Hong Kong financial assets (AKA money supply) can grow only via net exports (and/or external debt). This means market forces work...
View ArticleHong Kong currency board reserves at risk
[Skip to the end] Hong Kong’s currency board arrangement requires net exports to fund domestic net financial assets (‘money supply’) needs that other nations get ‘free’ from their deficit spending....
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