Is the US threatening to destabilize Hong Kong’s supports dollar-pegged currency unless China quits trying to destabilize the petrodollar? From Tom Luongo at strategic-culture.org:
While President Trump keeps trying to support a stock market via noises about negotiations with China progressing well, things are spiraling out of control in Hong Kong.
The protests continue to escalate and show no signs of slowing down. The goal has explicitly become attacking the legitimacy of the Hong Kong government and bringing down an economy vulnerable to a falling property market.
The attack vector here is not directly political, Hong Kong is being attacked by the West via student proxies through its currency peg.
The Hong Kong dollar is tightly pegged to the US dollar and defending that peg by the Hong Kong Monetary Authority has left the city-state vulnerable to a massive property collapse if commerce continues to plummet as protestors keep targeting vital centers like the airport and hotel districts.
