China's Currency Crisis as an Investment Opportunity

Kyle Bass, CIO of Hayman Capital, sits back down with Raoul Pal in order to finally reveal the opportunity that he called “the most asymmetric trade ever seen in my entire life.”
Bass follows up on his earlier thoughts on China and lays out the logic behind his thesis. He also delves into the relevant historical context and discusses the risks to the financial system posed by an overvalued property market. Filmed on April 24, 2019, in New York.
TIMESTAMPS:
00:01:50 How to Play China
00:11:49 The Hong Kong Banking System
00:14:36 2018 vs 1998
00:18:04 The Hong Kong Monetary Authority
00:23:19 Capital Flight from China
00:30:25 Endgame Scenarios
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TIMESTAMPS: 00:01:50 How to Play China 00:11:49 The Hong Kong Banking System 00:14:36 2018 vs 1998 00:18:04 The Hong Kong Monetary Authority 00:23:19 Capital Flight from China 00:30:25 Endgame Scenarios 👉 Do you want even more content like this? And to see this video before we release it here? Become a member of Real Vision -- get started here: rvtv.io/membership

[@mattthompson6680]

this guy is brilliant

[@quietiger1288]

People tend to overestimate the magnitude of things that happen quickly and underestimate things that evolve gradually.

[@DaveBraga]

Kyle really knows his stuff.....and explains it wonderfully without being arrogant.

[@donettatrump2025]

Uhh, funny that Google is feeding this propaganda to the masses.

[@ecofriendly0]

DaveBraga lol and without blinking I might add, the motivation behind his words as a pro American anti ccp doubles up with his incentive to help hedge funds against all the forex fluctuations that will happen throughout the trade wars and now transfer of wealth outside to the western world. Perhaps Singapore and other financial powerhouses may get a huge chunk of the rewards from the undeniably disgusting tactics by Kyle

[@salmalatif6499]

Kyle knows jackshit

[@billcarney829]

I totally agree. He also has a sound, informative and persuasive answer to every question.

[@ggttuuxx]

Not really. He doesn't understand HK's currency board system at all.

[@briansuniqueguitars]

I just dug this back up for another view after watching it over a year ago. So relevant today…

[@frajahmed5488]

This channel is My Netflix, please keep it up.

[@blasater]

This interview will be one for the ages. In 2019, we say to you in the future, observe and choose Freedom.

[@romlyn99]

I was thinking of using a Chinese company for a manufacturer. Head Office was in Hong Kong - Manufacturing was just 50 KM away in Mainland China. I had to pay them in USD. I could not pay them in CNY or HKD. So mainland China has purposefully made Hong Kong into a service economy - being the business front and money funneler of USD into the Chinese economy. Hong Kong companies are not allowed to have manufacturing in China - and still do business in HKD or CNY. If they want to have manufacturing in China and an Office in Hong Kong - they have to do business in USD - otherwsie they cannot do business. When Hong Kong was British run they could be an import export company - not have businesses in China - but do business with China. Now it is Chinese run - the Hong Kong companies were forced to move part of their business to China - then start doing import export in USD. And this was a requirement from the Chinese government... To weaken the power of the Hong Kong businesses. And to move the economic power of HongKong to mainland China. Part of Mainland China's power is from forcing Hong Kong companies to invest in mainland China... moving Hong Kong's economic might into China... and forcing Hong Kong to be the Financial Port for Mainland China. You cannot do import Export business with a Chinese company - unless you do it through Hong Kong - and you can only do business in USD.

[@nobodyli6543]

What is HK if there is no China?

[@cash_rey9760]

李博 free

[@truthreal4970]

thx for sharing ur experience, as a chinese in mainland, it means a lot to me, I start to understand what the CCP is. thx bro.

[@sleepytiger5945]

why dont you using your own country's company?

[@alexh.4842]

I feel like I’m going to search all of Kyle Bass’s interviews and watch each one of them, maybe even more than once

[@keytolifestyle7967]

He is amazing

[@keytolifestyle7967]

@Mathew I would...depending

[@motgbg]

@Mathew Me too, but it is much easier with personal portfolio and lower amounts. I am on track of 100% this year. But what happened with HK curency 9 months later ant there isnt any significant drop?

[@user-gz7fh8vo6e]

Awesome. Very lucid breakdown of the situation.

[@frankw2900]

Gary Tse I need a primer . I don’t know about these things and cannot really follow. Certainly, it’s very interesting and important.

[@aperfumedscorpion]

and completely wrong...

[@Shimshonn]

Omg thank you for this full upload, very appreciated!

[@miltonfriedman3593]

אל תשחק אותה מדבר אנגלית

[@lifuranph.d.9440]

@@miltonfriedman3593 Why not ?

[@miltonfriedman3593]

@@lifuranph.d.9440 ככה

[@lifuranph.d.9440]

@@miltonfriedman3593 So what ?

[@miltonfriedman3593]

@@lifuranph.d.9440 מי?

[@trumpsahead]

Not one mention of gold and silver as hedge against crash. Great interview.

[@chrismares1851]

This video is aging very well. Great call Kyle!

[@Sachz]

You’re telling me June 2020

[@kikin310]

it is aging really well today, this explains why HK is desperate to please Chinese authoritarian regime

[@Lerppunen]

Kyle’s hedge fund has been an absolute trainwreck for many many years.

[@ognjenvignjevic4148]

His bets against China always age like milk...

[@nosecretsfishing3661]

@@ognjenvignjevic4148 💩

[@briandailey3301]

Kyle NEEDS to be in the administration

[@ecofriendly0]

Brian Dailey the more he spread his ideology, the more he benefits off it from a financial sense.

[@CosmicSeeker69]

Haha, he's too smart to be one of the illuminate puppets

[@psyvatordarkpsy5284]

We want a new interview with Kyle Bass.

[@scottiedog4236]

Psyvator Darkpsy Be interesting time hear his views now with the virus here ? Nice quote

[@angeltobit878]

He has one with Epoch Times. Saw it yesterday.

[@juanok2775]

Kyle Bass sounds like a fashion line

[@angeltobit878]

R WG, you shouldn't be. It's his expertise

[@ericridley9144]

I

[@bitmau5]

Fascinating insight into the HK/China monetary system for me. Thank you!

[@PlanetFrosty]

China’s Debt is worse off than Hong Kong’s CHINA IS THE MOST LEVERAGED in real economic terms the actually GDP is lucky to be 2% for a variety of reasons-I’m getting actual input from Chinese Tax Authority senior official at great risk! He is looking at getting out-speaks volumes!

[@donettatrump2025]

Ask yourself why Google is feeding you this, NOW? If the news is fake, Invision how this history lesson was fostered?fkn propaganda THIS CHANNEL SO FKN SKETCH.

[@protoplast.youtube]

donetta trump ?!?.... do you wear a tinfoil hat, mrs donetta, 😆👎🏻

[@AZmisc]

Gotta say I hesitated to watch -- like what an HK story gonna teach me? But oh, boy am I glad I did. This video was really good -- I put it on my "must re-watch list". Thanks guys!

[@Zlinky111]

Fantastic video and brilliant analysis. Amazing!!! Thank you. : )))

[@4Ntech]

Watching this on September 3rd, 2019. The Hong Kong streetsare full of protesters.

[@bigteddybear5962]

Disaster ensues.

[@ranevc]

And the tanks

[@albertneville8918]

Paid for by US Intelligence agencies

[@bobbarkeriii2597]

Black-hand-CIA-Illuminati at work.

[@emmaliu169]

there is got to be a reason why HK youngers stand out and fight with CCP. support and keep tracking Hong Kong & ShinJang (Education Camp).

[@doodoodunderh3ad722]

New subscriber here, came across your interview with Guo and am hooked! Can't wait to watch more amazing insightful content!

[@ecofriendly0]

THL LI its a simple commonsense that people worship Guo for syphoning money out of the public, and then condemning the very system he got his riches from. How ironic that the people that is supporting democracy are after all silently preaching that the world is ruled by the one country that Guo is hiding in, and that is the world we are in sadly...

[@anhvu4211]

Same with me!

[@gustavodiaz4689]

Very educational! Thank you

[@MORDHI1]

Damn that’s great interview

[@abdoulazizhassana5167]

Thank you!

[@kevinj5989]

Another SUPERB interview! Thank you!

[@drogoth25]

This is my new favorite channel!

[@buzzworddujour]

Is Kyle just REALLY mad that his shorting of the Yuan didn't pan out, and is now going all in for another try? I find this channel really interesting, but also a bit one-note sometimes.

[@Xyz99899]

This is very informative. Great interview.

[@chasdenver]

Kyle, I enjoy these interviews, but more your financial expertise! I Really enjoyed your interview with Miles, the Chinese businessman. I still have Major questions, about his allegiance and motives...Keep up the Great interviews, Very enlightening!

[@romlyn99]

When the bubble burst for Japan - what happened? It will be 10 times worse when the Hong Kong / China bubble bursts.

[@user-gd9gv5xk5x]

Stephen Cotton Can not wait to see the drama rolls out.

[@kikin310]

make your own time machine bro, so you will never get caught by surprises. trollolol am i trolling or not? who knows!!

[@user-dd5kx5md5o]

This is like the big short part 2 before it happens

[@jacquerowe5948]

You might want to hold your breath

[@kevinhoque6365]

If the federal reserve reduce interest rates by 25-75 basis points this year, as implied by bond yields, then how does this affect this trade? I am guessing that it would also reduce the pressure on the HKD and hence postpone the reckoning that is discussed in the interview?

[@jesselivermore2291]

for hong kong and everyone else, its all about the credit and leverage now, american junk market seems much worse.

[@FRANTAJE1]

There is always an overshooting thus what is implied means absolutely nothing. Bond market is overly bearish but US macro is still decent. Like core inflationary pressures for instance, they will be positive at least for another year. Add rising oil core inflation and you have high geo risk enviroment, moderately high inflation at target with still running fundamentals at least in the yearly outlook. Thus FED lowering yields is overly bearish view taken by the "consensus" atmo. Literaly 7 months ago people were almost certain that FED will RISE yields, thus one can imagine the general view has shifted to the other side of the spectrum, but reality is somewhere in between. imho

[@marcfranz7298]

@@FRANTAJE1 exactly where do you See fundamentals that get better?

[@MisterTwister222]

@@FRANTAJE1 you can still delete your comment

[@FRANTAJE1]

@@MisterTwister222 Well joke is on me I see. haha

[@jasonc9196]

thankyou very much kyle -from a Hongkonger

[@suslinmew4358]

Hongkong is absolutely controled by the ccp, and became the happy pool of money laundry for the top officials of ccp like Jiang ze Min and Wang Qishan.

[@ecofriendly0]

suslin Mew and you reckon it’s just for the chinese? There’s laundering in Hk from us controlled entities... gotta love a free market ;)

[@jacquerowe5948]

When China first took control of Hong Kong it unabashedly stated that it could and would take the money from individuals including expats and including financial institutions incl banks

[@dennismaddock]

Would like Kyle to review the Australian debt bubble too!

[@billiardgrandmastershifu554]

Frankly, Australia’s economy is like a ticking time bomb. Their government spends too much on welfare and humanitarian cause which is great if you’re a rich country but not having enough people, lack of manufacturing, heavy reliance on imports are basically a recipe for disaster. You can’t just rely on wagyu beef and mining to support the whole country. There is so much more that needs to be done. Solution: ease immigration laws and make it easy for the right people to call aistralia their new home. Non-muslims from malaysia, phillipines, and other south east asia will definitely be a great backbone for a growing country. 2. Ease taxation and provide incentives for SMEs 3. Stop allowing Muslims in for gods sake. Look at how they treat the non-muslims in malaysia, indonesia etc

[@nayanmalig]

@@billiardgrandmastershifu554 Australia had a trade deficit of 1.4 per cent of GDP, much less than the US and Japan

[@boboften9952]

Australia's Debt = China's Manipulation.

[@mikegoh2569]

Thanks for a great video and exposition of what is happening.

[@williamportillo3300]

Thank you for walking the talk guys.!!!

[@BluesImprov]

Can anyone recommend a book. . .or video. . .that would explain the basics of what they're discussing here? I need something that simplifies the overall concepts so I can begin to get a handle on this. I do want to delve into this much more deeply than just the basics, but I need a simple explanation of the economic concepts involved to get me started. Any suggestions would be most appreciated!

[@tlufo]

Hmmm I would say, have you played monopoly? well the game ends when a player is the only one that owns everything right? so that's what the ccp is kind of doing (cheating using the bank since many private companies in china are half+ part of the state), while any capitalist would want the game to keep going and not go for all the cards on the board. or at least that's how I would explain it LOL

[@manubhadoria24]

At the heart of it, its a debt crisis. There's a recent book called Big Debt Crises by Ray Dalio on this topic. Very comprehensive!

[@sincitycapital]

Fabozzi

[@superchuck3259]

In short, China wants to Steal and is stealing the wealth from Hong Kong. Hong Kong used to be UK colony. It was a free trade port and economic engine. People got rich, China wanted to take the wealth. A 99 year lease was put in place. The lease came up, then after some turmoil, a new deal was cut giving a time frame till China could control fully Hong Kong. China is pushing the timeline up and arresting people inside Hong Kong and taking them back to China. Also China wants to take the wealth too. Just see that Jack Mia from Alibaba lost his fortune to 5 unnamed new share holders of his shares. In the end, the wealth creators are leaving and Hong Kong is having civil unrest and will collapse. China will take possession and it will degrade into chaos at first and then authoritarian control by China the end!

[@robertofilipe8605]

@@superchuck3259 great comment! On point!

[@surfnstocks2998]

Huge protests in Hong Kong over extraditions to mainland happening today.

[@hedgehog_fox]

Time to bring in the tanks.

[@BlowmeRoger]

Yes there sure is by everyday hk people, everybody is worried about this there.

[@ranevc]

And tanks.

[@maheshsunderaraman7043]

Fantastic insights by Kyle Bass. Kudos to Raoul Paul and Real Vision as well for bringing the best content.

[@davi8515]

At what point will people admit he’s plain wrong

[@carpenoctom]

ty for posting

[@dieselboyyy]

Now: HKD -> USD peg Soon: HKD -> RMB -> USD managed exchange. All HKD deposits overnight will be converted to RMD and entire system in HK will be subject to capital controls. Thank daddy Xi!!

[@Ken-S]

That's why today we have an important protest in Hong Kong with more than a million of people. HongKongers don't trust CCP.

[@cobrabeebop]

No one should trust the CCP @@Ken-S

[@littlemoutha9998]

Us uk further demise of hk dollar

[@JM-gu3tx]

China is getting very close to destroying the autonomy of Hong Kong. If they continue, Hong Kong will be finished. Sad.

[@superchuck3259]

Trump will Tweet that Hong Kong will now be treated as Chinese territory and subject to all the trade rules placed on Chinese trade. BOOM! Before this goes down I would love Trump to ask for all the man made or man enhanced military islands in China Sea to be demilitarized.

[@ecofriendly0]

Charles Granata and for the USA to be subject to the same game and remove themselves from the islands they have claimed for themselves for military bases and countries they have attacked and stationed their troops there. Doesn’t make any difference for the tarriffs on Hk. Mind you, they are made in China

[@bongmerced5842]

Next is taiwan , what a irony , a battle of idiology between democracy and communism

[@candyrox3537]

Hong Kong people, come to the United States and bring your money and innovation. ❤️

[@ranevc]

And tanks are coming

[@BanBiofuels]

So short the HK stock market? How as the revolution going on affected this situation?

[@GSThai]

Great vid !

[@JK-Jasmine]

Thank you for the explanation❣

[@barrettl2473]

That chart at 13:48 is crazy, my god the credit leverage.. and they have no clue

[@supercal333]

@Masked Singer Has his idea been disproven yet?

[@irfayasseyf1603]

25:09 the piece to pay attention to

[@heteshjoosery8542]

I am researching how to structure this trade this is awsome content, thank you !

[@teghem6723]

So the depletion of their dollar reserves will sound the bell that will awake everbody to the reality!

[@jimlovesgina]

Print!

[@jesselivermore2291]

think china would not put dollars in there?

[@Earej]

In the end he goes "Well, there you have it!". Except we don't. He didn't say what the investment idea was. He didn't say how to trade it. He didn't say how to put the trade on or even what it is.

[@generalyan7084]

They actually did say a few successful ways to trade it, but most retail traders are too slow to catch it.

[@Earej]

They did change the title twice since I wrote this.

[@michalk7777]

26:40 what are the books, he is talking about?

[@andreaslarsson3999]

Great video!Kyle Bass is awesome!!!

[@danbashuk1235]

wow I diden't know and this, this is the first time I heard of the problem with Hong Kong, I have shorted Tesla but HSBC seems to be in worse shape by far!

[@jimoquinn3827]

"I have shorted Tesla" Doh! Sorry mate.

[@AsDfler12]

I wouldnt have shorted Tesla. Never bet against an insane customer group and crazy fanbase

[@boboften9952]

@@AsDfler12 George Hotz

[@manubhadoria24]

What instrument has Kyle actually shorted? Is it just a massive short position on HKD?

[@luger188]

That was not revealed, only speculated on, but it seems pretty obvious?

[@beNatureable]

Looking into what happened in HK now, does this video have any connection with?

[@sebastianaguiarbrunemeier9192]

Great points as usual from Bass

[@Elclassicodelaelbe]

I wonder how much credit went into Mainland China or went through Mainland China to the Projects like Silk Road 2.0 and other Infrastructure Projects outside of China? Anyone curious?

[@ianzacher1942]

Yes

[@elizabethmortensen8464]

Sort of like a type of symbiotic relationship as long as HK remains autonomous?

[@xperiahkarc]

may i know if Bass trade is right, what will be the value of real estate in Hong kong? If HK is depeg, will HK dollars be appreciated or depreciated? what will happen to the property price if depeg happens?

[@dontfeedthemodels]

im working and listening to this & every few minutes I look back at the video with my hands on my face like... "THIS IS MIND BLOOOOWING"

[@KaYeeTong]

See no reason it cannot defend the peg at expense of economic deterioration. When hibor can go up to 300%, you won’t attack the peg, but other assets, which HKMA wont care

[@SM-sb4tr]

17:43 me saying Yep when i don't understand a thing

[@singularity-6339]

Daily lending rate is for banks to banks but prime is for bank to public.

[@SM-sb4tr]

Singularity - thanks

[@owenbenjaminshapiro6285]

@Me that might be true right about until you're faced with a medical emergency (in the US)

[@sdushdiu]

Interesting indeed - especially living and dealing in China proper!

[@bryan-9742]

Can we get this report?

[@270kenritt]

I hope Kyle has a large security team - his opinions will anger some very powerful people.

[@BrianFrenchinternet-marketing]

Shorting HK fixed income vs long US bonds is the big trade.

[@ednakazuya12]

I am not a Forex person but how will you play this out from a stock option perspective? Evaluate HBSC entry position or hedged it with GLD?

[@romlyn99]

I get the idea that some people think that USD in Hong Kong stops and circulates in Hong Kong. It doesn't... it sits in Hong Kong for about 2 days then moves into Mainland China. So to see the USD peg to HKD - is not correct. The Hong Kong USD peg is Mainland China buffering a CNY to USD peg. So it is more than just a Hong Kong currency / economic issue - it is a mainland China issue. So mainland China uses Hong Kong as a buffer and a funnel to get a hold of USD.

[@tensevo]

You know there is a reason we say, never say never.

[@deeguedes6681]

Silver is the big trade

[@vincentjohnson3763]

I am up 40 % on silver in about 5 months

[@luger188]

Bitcoin

[@theministryofmoney4237]

@@vincentjohnson3763 What currency?

[@jacquelinewang1018]

Track record please? What is his fund's name again?

[@randyc754]

Scary, Exciting!

[@mikeluce4269]

thank you. very classy

[@PseudoProphet]

Hong Kong is gone beyond repair.

[@luckyrabbit5952]

This is really fantastic

[@elephant637]

BRILLIANT Interview !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[@TonyMeyaart]

Amazing interview!

[@TsiHang]

Lee has been selling his assets in China then Hong Kong years ago

[@danielobrein6496]

thank you gentlemen

[@RiversideInsight]

Second largest Hong Kong real estate company declared bankruptcy today. This video is happening today.

[@TxFw]

Watched the whole thing. And I still don't know what the trade opportunity is...

[@thaum1]

Ditto. But then again I am dumb

[@crisismanagement2442]

Short the HK Dollar... (there's one) Short the HK Property Market (there's two) Short the HK Banks (HSBC?) - (There's 3) Short the HK Property Developers (There's 4) Short any corporation that does 50% or more of its business there (There's 5) and that was just a couple of seconds thinking about it...

[@genli5603]

HSBC is full of South American drug money.

[@mnharjotsingh]

I see the asymmetry, but what is the opportunity here?? all I heard was "leave Hong Kong"

[@danesovic7585]

Bet against HK dollar and against banks operating there.

[@mnharjotsingh]

@@danesovic7585 Thanks for your response, I appreciate it because I really don't know much about currencies and their trade. Is there more to the opportunity here than just a chance for people who have invested in HK to get out? How does one bet against something from the outside if they don't already have a ton of HKDs.

[@laszlosarosdi5417]

In a forex trade, go Long USD and Short HKD, since the HKD is pegged to the dollar your downside is minimal and your upside is massive. That is the asymmetry that you can capitalize on. Also you can short bank stocks whose main profile is mortgage lending, also you can just short the Hong Kong stock market as a whole. I think the real deal is the forex trade.

[@neosonic08]

HKer here. It happened. Autonomy of HK has been lost. What happen to the peg?

[@MrTubeityourself]

All the best from the US. Nothing yet. Has to be time soon.

[@xfxu]

Thanks Kyle for all your insightful vids. Very enlightening. BTW, Xi should be pronounced as she, not Gee

[@sumitar2]

Kyle bass never understood that markets can stay irrational longer than he can stay solvent.

[@hotsiam3193]

well, he's still here managing large sums of money, so you're probably talking shit.

[@sumitar2]

@@hotsiam3193 you're a f'ing noob go learn something before you vomit here

[@drmodestoesq]

And he also doesn`t seem to understand that federal governments have printing presses. His argument is, who`s gonna buy all this government paper. The answer is....the government.

[@dutchymcdutch2553]

@@drmodestoesq Venezuala is printing like crazy, how is that going...

[@drmodestoesq]

@@dutchymcdutch2553 I know...And Weimar Germany and Zimbabwe and Hungary. All the rare hyperinflation events. Then we look at the vast number of deflationary events. When people look at a country that lost WW1 and think it`s analogous to 2008 or 2019 America... Or a African country that`s run by a thug who`trying to cling to power. But if people like me say Bitcoin is the modern Tulipomania....well then. People say the analogy is false. Fact of the matter is Bass made one brilliant well timed call. All credit...and giant sack of cash to the winner. But how has he done against the indexes since then. I gamble on sports a lot. Everyone can have a good streak. Or a bad streak. But the grinder who makes consistent profits is the one with the good methodology.

[@cramer071]

he wouldn't tell you if it was true

[@barrettl2473]

What are you talking about? He literally told everyone to sell their homes in 2007. This is the most liquid macro trade in since the dollar was taken off of the gold standard... Hes obviously already positioned himself but thats his fiduciary obligation to his investors. Watch and learn fam.

[@barrettl2473]

@@chickeninasal4381 You know nothing about me other than a comment or two on a youtube video, you're delirious. I was just condensing information, He was bearish housing... made billions. Tons of regular people had 3 or 4 houses in highly leveraged real estate areas... but you're going to have to find someone else to cry about being poor to.. Maybe you should start your own hedge fund if you know better than Kyle Bass bro. My point stands that Blind skepticism only hurts the skeptic.. if you are intelligent enough to be skeptic you should be intelligent enough to read data for yourself also.. this trade is much bigger than kyle bass its not like hes fading/lying to the market here.. Just chill on the Dunning-Kruger stuff man. Learn some things.

[@FRANTAJE1]

:DD Like bunch of youtube people will move literaly the biggest market there is.

[@ericjoho]

@@chickeninasal4381 i sold at the top of the market after owning for about 7 yrs. did fsbo at 1.8% fee, i made 12.5 times my down payment. vacationed, traveled and day traded for 2 yrs. after which the housing market was still going down. i then got a job, housing and coasted in to finally retirement. Barrett L is right about listening and learning beyond your own inherent belief system.

[@edgarquezada6052]

Great work Kyle. 🇺🇸

[@MrAmbrosse]

So how would you do this trade....

[@gerhardkutt1748]

You have NO IDEA of the money that flows through HK and BVI's which are totally related. For every single HK company there is a counterpart BVI company as well - because HK is a money pump. It comes in and goes out ... no one knows how much money - because HK is the most deregulated banking system in the world !!! Hong Kong is NOT just about Chinese money - it is about Global money !!

[@boboften9952]

Well Said Sir . Yes ABSOLUTELY Yes .

[@d33763]

"The inmates running the asylum" lol

[@Greatnews4me2]

What ?

[@GranFinale]

Kyle will tell us ALL day what the problems are, but the soluitons are strictly reserved for him and his investors.

[@Sebaiancu]

Gotta love Kyle Bass... Has a ratio of facts to opinion of 1000 to 1. I just love facts because they can't manipulate the way you think and I can get to my own conclusions

[@didierdenice7456]

Well remember his famous 2015 "Japan is a mosquito looking for a windshield"... His shorting of Japan has been a disaster for four years ! He spitted all the rational arguments yet nothing happened. It helps in life to have a bit of memory... :-)

[@drmodestoesq]

@@didierdenice7456 Thats the facts...Jack.

[@AGoogleUser-hf5zg]

thats why they're getting into Bitcoin...

[@Kawasakifreak1]

China's banned it.

[@AGoogleUser-hf5zg]

@@Kawasakifreak1 no..... It's legal to own but not legal as for payment.

[@emersonguhiling3429]

The world must intervene in Hong Kong.

[@vincentjohnson3763]

will not happen

[@ecofriendly0]

Emerson Guhiling the US government has already intervened, so nothing new here.

[@hfortenberry]

This is off-topic but I LOVE those cup holder/stands!

[@StephenNu9]

Very interesting discussion. As Kyle said earlier, HK's ports once operated 30% of China's shipping business -- today, it's down to 2%. HK's GDP today is $341.4 billion while China's is $12.2 trillion -- which is only about 2.8% of China's value. Thus, if HK goes south, mostly those in HK will be effected.

[@4R1P5R]

Dying to hear an update now that HK has lost it’s special trade status w US. Assuming this is economic checkmate for HK.

[@skypowell7445]

Yes, U.S knew it couldn't do anything about the chinese communist's. Nice! LOL. this is a checkmate for democracy U.S is letting hong kong's ship sink......

[@PlanetFrosty]

The real estate market in China and quality of construction in Chinese Construction is so bad in many cases it’s worthless and must be rebuilt-massive apartment blocks. The RMB is so over leveraged with even larger dark debt, including P2P is enormous-my internal information is from CCP tax office officials looking at ways to get out.

[@sirfignewtonchurchhilliii8415]

how do you short Hong Kong Dollarydos?

[@jameswatson5707]

So what is the trade / investment opportunity?