Before someone asks why there isn’t insane inflation from banks printing an infinite amount of money for themselves, the Hong Kong dollar is pegged to the US dollar. In order to be allowed to print HKD, banks must have an equivalent amount of USD on deposit.
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- ???
- Open bank in Hong Kong.
- Print money.
- Profit!
Governments HATE this one WEIRD TRICK
So can banks in the UK. There is one design for England, but a few for Scotland, for example.
and the US dollar has no peg with fractional reserve lending at 0%. sounds stable
From my handful of visits to HK, I’m pretty sure it’s just the 3 major banks that print the money?