Jeff:
Thought I'd answer part of your question here.
Morgan Stanley, Soros Group were named public enemy No. 1 and 2 by
the HK government, shorting the HKD and HSI futures.
On August 13th, Soros published an open letter to Russia government
to devalue the toilet paper and establish peg to USD, on Aug 14th,
HK Government attacked the speculators and had the newspaper to leak
out MS and Soros were being targeted. How sweet!! I am personally
against the intervention. But this, is great stuff.
Next day, Stanley Drunkenmiller stated Soros Group lost $2B in Russia.
Donald Tseng, the Chief Financial Officer(HK) is one smart Dude.
The China Goverment is on record of supporting the HK Government,
stating they have 140b in USD reverse and $3B per month net income
from export.
Aug 29th was the future expiration in HK, speculators rolled most
of their contracts into Sept. We shall see soon enough.
HK had 96B USD in reserve, they spent $12 in the past three weeks. |
