Genuine 1,000 Hong Kong dollar banknotes (about $130 each). (Mike Clarke/AFP/Getty Images) On Aug. 5, Hong Kong’s central bank bought the largest amount of its currency in one day since May 12—HK$14.161 billion (about $1.80 billion)—to stop it from weakening further and breaking its peg to the U.S. dollar.
On July 28, after the U.S. Federal Reserve announced a rate hike of 75 basis points, the Hong Kong Monetary Authority ( HKMA ), the city’s central bank, followed suit and raised its base rate upward by 75 basis points to 2.75 percent.
Since Oct. 17, 1983, Hong Kong has adopted the […]
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The Biden Regime and Globalists Don’t Want You Owning Precious Metals
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Precious metals are historically the most reliable and safest hedge against economic turmoil. With the Biden regime and globalists enhancing the chaos, it’s important for patriotic Americans to take control of their financial future.
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