So where are George (and Kyle) wrong then?
https://www.youtube.com/watch?v=QwjiIIht0bw
So where are George (and Kyle) wrong then?
https://www.youtube.com/watch?v=QwjiIIht0bw
$433 Billion USD in Federal Reserve, does that sound like running low?
HKMA intervenes to stop the HKD breaking out of it's band ... to the upside. Kyle Bass is looking more than a little foolish right now.
HKD Re-hits Strong-side Convertibility Undertaking; HKMA Pours $1.55B into Banking SystemAASTOCKS Financial News - Top News
didn't you notice he has been going on CNBC with all kind of his theory.. attacking China/HK left, right and center.. really sounds like a desperate struggle now. His bet is costly as he is borrowing HKD to short against USD assets.. USD yielding 0 now and HKD cost of borrowing like 2~3% for him... means every year he leave the bet on his cost is 2% of his notional. Assuming he has 400m USD in his hedge fund and he levered it up 20times, i.e. 8b USD bet, his cost per annum is 160m USD. That's why he is concern and worried i guess.
Nevermind his market view, but I almost have to tip my hat to him for pulling off the gag.