The pathetic Hong Kong dollar

All prices in Hong Kong have been going up. Fuel, food, clothing, rental, transport, electronics, ...and rice of course. Would poor guys in Hong Kong die poorer and poorer? I don't know but what I surely know is that we must not hold any Hong Kong dollar. Yes, everyone in Hong Kong should help the local Hong Kong government to debase the Hong Kong dollar by selling Hong Kong dollar and show your national loyalty to our motherland by buying our Chinese Yuan or RMB. If poor guys like me in Hong Kong cannot choose to peg our hard-earned Hong Kong dollars to the currency of our own mother country, then we must do it ourselves.

Hong Kong dollar is absolutely pathetic! As it is pegged to USD, Hong Kong dollar is at record low against many major currencies, Euro, GBP, A$, CAD, NZD, Thai Baht, ... and against our dear friendly USD too. Most disappointing is that HKD is at record low against RMB or our Chinese Yuan. You can hardly another currency on earth that can be as weak and as pathetic as Hong Kong dollar. It cannot even cope with its counterpart in its motherland, China.

You may say the pathetic Hong Kong dollar is one of the sacrifices that we must make to maintain the principle of "One country two systems." But I have found nothing in the constitution of Hong Kong, namely the Basic Law, saying that the Hong Kong dollar must be pegged to USD. I can't imagine any constitution of any territory laying down such requirement!

The dollar peg is absolutely anachronistic. It is a legacy of colonialism; a sign of inconfidence in the strength of Hong Kong dollar and worst of all, a refusal to accept changes after our reunification with our motherland in 1997. When China was unified by Emperor Chin many thousand years ago, one of the most important changes was the use of a unified currency!

Comrades in Hong Kong, please show your patriotic support for our motherland and convert all your Hong Kong dollars to RMB. If you don't do this now, your purchasing power will become less and less everyday and I am sure a year from now, it will be discounted by 10% or more. Why? RMB is appreciating everyday, USD will continue to tumble and inflation in Hong Kong will continue to jump over the roof.

If you don't want to hear me, you may look at the views expressed by Jim Rogers. He has been telling the world that he is buying RMB and investing in Chinese stocks, commodities, etc. No one has told me that he is wrong. And the fact is RMB has been going up everyday.

Wake up from your dream about BIG HONG KONG! It's now more than 10 years after reunification with our motherland; don't pretend that you still don't know. HKD must never be pegged to USD again and must be pegged to RMB!