I d found similar numbers when looking it up a few days ago and probably asked the question already:
Why are interest on idle Hkd positive balances so volatile with IB? It is not reflected in Hibor afaik
Capital Flight From Hong Kong
- Thread starter Stockolio
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I d found similar numbers when looking it up a few days ago and probably asked the question already:
Why are interest on idle Hkd positive balances so volatile with IB? It is not reflected in Hibor afaik
I asked that question a while back as well and never found a satisfactory answer. I reckon it has to do with the HKMA intervening in the peg quite frequently these days and HK banks playing a cat and mouse game.
Ahh, copy and pasting trading economics without even understanding what you are typing about.
Here is from October 2018, https://www.bloomberg.com/news/arti...r-could-get-all-shook-up-as-cash-pool-shrinks
December 2018, https://harbourtimes.com/2018/12/25/hkma-tells-hk-brace-volatility-ultra-low-interest-era-ends/
After massive intervention, it got out of whack again May 1 2019, https://www.bloomberg.com/news/arti...nk-rates-seen-staying-elevated-buoying-dollar
https://www.hangseng.com/en-hk/personal/mortgages/reference-rate/historical-hibor/ , look at May 2019 month, does it look like anything remotely healthy ? Fear has gripped HK Banking system...
Here is massive jump in 1 week and ON May 27 2019, .34 and .31 Jump in a day!!!! china and HK are doing way more intervention now then in 08-09 crisis, and yet they can't control it ? They have been trying for a year and they can't... The end has arrived for HK banking system, capice ?
There are people kidnapped from Thailand or other sovereign nations and appeared in China without a passport stamp. Just think about that! How?!
You stated and claimed Hibor rates are extremely volatile. I proved to you that this is factually wrong. They are not any more volatile than USD libor. 40 basis points range ytd, what you are yapping about is the second derivative.
I'm not sure about the passport stamp but was thinking about that, it was speculated in the media local authorities arrested and extradited them without due process (thinking about the book editor in Thailand specifically)
Just to divert attention from China for a second, there was a very high profile case of a vietnamese citizen who was kidnapped downtown Berlin a year or so ago before reappearing in Vietnamese custody. Might be better for an individual to avoid antagonizing governments rather than relying on the rule of law, and in the case of HK extradition bill, the rule of law risks serious bending, HK doesn't look like safe place to take refuge for people wanted in the Mainland
Abductions of people in western developed nations should concern us but other than that I am a strong proponent of letting other nations and its people pursue their own way of life. That includes even despotic regimes. In the same way than Americans fought for equal rights for all Americans and Europeans stood up for their rights and sometimes opposed their own regimes we need to stop messing around in the rest of the world and taking responsibility for all the ills of the world. If HK locals or mainlanders are not happy with their domestic policies then they need to stand up for themselves. For too long has the west paid a steep price to police despotic leaders around the world and their citizens got a free pass at the expense of American and European tax payers. That means some loss of influence but so be it. If we can cut defense spending and war mongering (whether via conventional weaponry or information campaigns) then there will be plenty left for infrastructure reforms in our own nations. Let HK extradite to other countries including China, it does not concern me if I as temporary resident in HK conduct myself in ethical manners and adhere to the local laws and ways of life. If I can't agree then I should not be here in the first place. The problem why Vancouver, Toronto, Christchurch, Auckland, London and many other places are overcrowded by Chinese and HK locals who displace a lot of the local inhabitants via property pricing is because HK got a free pass in many instances and the price is not paid by them but by those citizens of places HK locals flock to each time there is something they don't like. I concur in many ways with Steve Bannon and his effort to weaken and destroy the administrative state. For too long have we let the elites and corporations have their way at the huge expense of the middle class. Elites and corporations love it when wealthy foreigners enter their countries because it meas more money in their pockets. The segment of the population that hardly benefits at all and actually pays a steep price is the middle class.