VHF. Another step in the removal of the US $ as the global reserve currency:

"A banker source with strong Chinese and Arab connections informs that the decision has been made final. The Hong Kong Dollar will be removed from usage, in favor of the Chinese Yuan currency. The timing is not certain, as it will occur at an optimal time in the future. Greg Weldon simultaneously confirms something is awry, as big Chinese money is moving into Hong Kong. He reminds of a 70% collapse in the HKDollar in the early 1980 decade, followed by the subsequent linkage to the USDollar in 2003. In the last three decades, the HKDollar has not deviated from the path of the USDollar by more than 2%. Enter the present day problems. The increasing reckless debasement of the USDollar by the USGovt and the broader domestic usage of the Chinese Yuan currency has dictated urgent change. The HKEconomy must avoid grand disruption caused by the loosely tethered USFed and its exported chaos from its desperate monetary policy. Weldon notes that Renminbi (people's money of China, formally called the Yuan) time deposits held in Hong Kong banks rose by 14.6% on a monthly basis. This marked the third consecutive month of 10% expansion, and the sixth out of the last seven months. Since September 2009, the RMB deposits in Hong Kong have soared by 91.16 billion Yuan, which registers at a 157% annual expansion on a nominal basis (not adjusted for FX changes). They are attempting to offset the USFed actions. Given the large shift in Hong Kong bank deposits, expect a decision by the Peoples Bank of China to allow the Yuan currency to appreciate versus the USDollar. Furthermore, it is only a matter of time until Hong Kong makes the switch to the Yuan itself. Weldon finds it compelling to expect a switch from their peg to the USDollar, soon to be announced to the Chinese Yuan. Expect an all-out adoption of the Yuan itself in Hong Kong."