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🇺🇸Kyle Bass🇺🇦

@Jkylebass

May 12

🛑 Rigid Currency Pegs Break 🛑 As an update to our seminal work on Hong Kong 🇭🇰 back in 2019, conditions today (both macroeconomic and political) will likely cause the 39-yr HKD peg to the USD to be stressed enough to cause a cathartic revaluation of the HKD. Participants 1/10

have little understanding of the fragility of such rigid relationships. Pundits from the HKMA and academia frequently report the HKD currency board is a ‘perfect’ and ‘sustainable’ relationship.This self-serving market affirmation has become somewhat of a financial apostolic 2/10

Creed that’s flawed at its foundation. Today’s HKMA ‘excess reserves’ that are reportedly liquid and ready to be used to defend the 7.85 peg amount to $42.9B. HK banking deposits are $728B in USD and $965B USD worth of HKD. If only 5.8% of USD deposits leave HK 3/10

Read 10 tweets

🇺🇸Kyle Bass🇺🇦

@Jkylebass

May 11

@Apple

@Apple is hiring engineers away from its Western suppliers to help Chinese State-owned YMTC meet its iPhone specs and thereby displace Apple's Western suppliers. YMTC got into the memory chip market through heavy state funding. This is, no doubt,the result of CCP pressure on 1/5

https://twitter.com/andrewpduncan2/status/1524490537033736200

@tim_cook

Apple and Tim Cook. @tim_cook works hard to undermine US national security for a few more dollars in profits for his shareholders. This mirrors what happened with Huawei many years ago, where foreign companies helped Huawei to meet their specs, got hooked on China’s price…2/5

not to mention STOLEN western IP to help rapidly scale Huawei’s business. US companies, ESPECIALLY Apple, should not be allowed to repeat this horrible, miscalculated mistake and help to scale YMTC’s business and displace Western companies in the process. 3/5

Read 5 tweets

🇺🇸Kyle Bass🇺🇦

@Jkylebass

May 11

For-profit companies are actively working to undermine U.S. national security. Hordes of lawyers and lobbyists have been hired to fight AGAINST a new, bi-partisan bill to review foreign investments by U.S. companies to determine if they undermine US national security. 1/8

The Semiconductor Industry Association is leading the charge against a thoughtful bill to stop sensitive technology getting into the hands of our adversaries. The top semiconductor companies of the world don’t care about our national security, they only care about profits. 2/8

@SenBobCasey

The bill is sponsored by Democrat Bob Casey @SenBobCasey and Republican John Cornyn @JohnCornyn This legislation will fill in the gaps where current laws don’t exist in three key areas: 1. The formation of JVs with foreign adversaries 2. The offshoring of critical 3/8

Read 8 tweets

🇺🇸Kyle Bass🇺🇦

@Jkylebass

May 10

A 400-yr old, $118 billion Dutch Pension fund has BLACKLISTED CHINA 🇨🇳 and Chinese investments due to China’s failing results on the pension fund’s new screening tool for ESG investing and corruption. The tool includes a NATIONAL CORRUPTION SCORE that will exclude sovereign 1/3

bonds and state entities that fail the test (China failed). It’s shocking to me that it’s taken Putin’s invasion and war crimes for the world’s pension and endowment crowd to ‘develop’ risk-based tests for investing in despotic autocracies. I guess losing everything in 2/3

@BlackRock

‘cheap’ Russian companies taught them a multi-billion dollar lesson. Just think about how much of the West’s pension and endowment assets are already trapped in China. Hundreds of billions. #China #ChinaHustle #Blacklisted #Russia @BlackRock @blackstone @RayDalio #bridgewater

Read 4 tweets

🇺🇸Kyle Bass🇺🇦

@Jkylebass

May 9

Did you know that there is NOBODY from any U.S. agency to enforce ‘end-use checks’ of goods shipped to Russia and only 2 people in China? Putin kicked out U.S. officials after the Russian takeover of Crimea in 2014. The Biden Administration declares their ‘export controls 1/4

With the foreign product rule that prohibits any items containing U.S. technology’ to be subject to the export control regime. Funny thing is when we ship said products to China who then ships them to Russia, THERE IS LITERALLY NO ONE on site to oversee such transfers/sales. 2/4

@SecRaimondo

The joke is on anyone that believes our sanctions are actually biting. We have only TWO INSPECTORS on ground in China where the government forces us to SCHEDULE a time and place for our inspections. @SecRaimondo and Matt Axelrod are disingenuous when they say sanctions 3/4

Read 4 tweets

🇺🇸Kyle Bass🇺🇦

@Jkylebass

May 4

@federalreserve

As the FED @federalreserve searches for candidates to fill Fed Governor positions, their team is ranking new candidates on 4 categories: 1. Economics 2.Financial Markets/Banking 3.Leadership 4.Diversity. They recently had one open position down to a handful 1/4

candidates whereby they were then ranked on the new system. The Fed kills any candidates who fail the “diversity” category regardless of their capacity to understand, govern, and overall merit. The FED is the single most important economic 2/4

Institution in the world. Given the inflationary mess the US and the world face today, walking away from the absolute top candidates due to the diversity issue is incredibly short-sighted and doing our country and the world a major disservice in our time of extreme need. 3/4

Read 5 tweets

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