The Hong Kong dollar peg has been in place without breaking since 1983. This time its different says Kyle Bass.

Kyle Bass is short the HKD looking for the central bank in HK, the Hong Kong Monetary Authority

(usually described ad the de facto central bank)
Bass says (in a nutshell):
  • is “very long dollars”
  • Hong Kong Monetary Authority has spent 80% of its reserves over the past year defending the peg
  • Once depleted, the pressure on the currency board will become untenable and the peg will break”
HKMA says … nah. Bloomberg go on:
  • the HKMA … explains … when the aggregate balance shrinks, then local interest rates rise. Higher rates reduce the incentive for investors to sell the Hong Kong dollar.
There is plenty more at the article, link here. 

Kyle Bass is short the HKD Hong Kong Monetary Authority peg