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Kyle Bass | The Present Danger: America, China, and the Second Cold War

Hidden Forces

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Hong kong monetary authority says it has roughly 400, the last number i saw was 436 billion us. Dollars of foreign exchange reserves to protect the peg. Your calculation puts that actually to 50 billion of what can actually be used to viably defend it. And maybe you can also compare this to some other instances of currency pegs breaking, like intiland or an argentina. We had four point six trillion on the fed's balance sheet at the peak. Their desire, their publicly stated desire, was to get it down to somewhere ron two and a half trillion.

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