Nov 14 (Reuters) - Foreign assets in Hong Kong's Exchange Fund stood at HK$3,399.1 billion ($435.62 billion) at the end of October, down HK$2.4 billion from the previous month, the Hong Kong Monetary Authority said on Tuesday.
The Exchange Fund backs the local currency, which has been pegged to the U.S. dollar since 1983. ($1 = 7.8029 Hong Kong dollars) (Reporting by Twinnie Siu; Editing by Biju Dwarakanath)
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The conventional wisdom is wrong. We need rational, controlled escalation from the Western powers in the face of Iranian aggression, not more of the sickening appeasement, delusion and cowardice of the past few days. The regime needs to be punished for its monstrous war-mongering, not mollified and placated by a bunch of Western ignoramuses who confuse weakness for virtue.
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