Kam, you're quite a character, and your tone is real classy, too. First, the math on the $A, which that site never quotes in (it always quotes in US Dollars, or will specifically say $A) is $170B, not $160, "junior." Secondly, the $HK does not become attractive to other hedge funds when HK rates go up.... They're not buying HK debt when they anticipate a devaluation. Also, the data from the HKMA site is as of 6/98. The Hang Seng market lost 20% in 7/98, which is the equivalent of the foreign reserve figure I am sticking with and the month I was referring to. I'll kow tow when the 7/98 data comes out, Kam.
An $A @ .59 = 1.7 needed to buy a $US
By the way. I'm not getting the least bit tired of arguing with you over your premise that basically says the 'speculative hedge funds are run by idiots and they don't know anything about capital markets.'
Anyone tell me if I'm misreading L.K.'s main message the last few posts? |
