Hey J, that's not a butterfly. That looks more like an F16 fighter bomber thingie. Somebody could get hurt with that roaring around: < News that the authority was taking action against speculators sent the Hong Kong dollar down sharply to 7.8123 to the US dollar from around 7.7985 before the announcement, and triggered an outflow of funds. The currency plunged to 7.7789 in the 12-month forwards market. >
In fact, I'd say plenty of people are already counting their losses.
This is so much fun. Interest rates going up up up, financial relativity theory kicking into gear, tsunamis of money swooshing around the world, debt pumped up to high pressure to turbo-charge the hyper-drive thrusters. F16s taking to the sky.
<The immediate result of the change will be an end to the long interest-rate holiday enjoyed by Hong Kong borrowers, and a jump in home-loan repayments - though depositors will also benefit from higher savings rates. >
Competitive pixelation processes, with interest rate competitions too - oh what fun.
The no-brainer revaluation of the yuan is, I believe, going to be a hot-money sucker punch. Once they are all in, which it seems they might be given these latest shenanigans, they will suddenly find that, surprise, surprise, it's not a revaluation, but a devaluation coming down the intergalactic turnpike, clearing the neighbourhood for another highway to the future. Speaking of which, I must go and see "The Hitchhiker's Guide to the Galaxy", now showing at a theatre near me.
Let's roll! Or, as they'll say in Beijing, "Let the Games Begin".
Mqurice |
