the current diverse policies we see exercise by the fed and under the pd ooc have the hong kong monetary. peter: the one currency that is really trapped between a rock and a hard place. it is holding the dollar and the fed to policy. it is throwing the kitchen sink at the situation. the problem that it is. --don't believe it will be we think it has a lot of sense to have the stability of the dollar-hong kong peg. with think it has the reserves to supported despite the recent drawdown and in china. at this point, we don't see any reason why they should be a decoupling. anna: do all the pegs go? . : at all think the stress is there yet. we are getting closer. the gulf countries are the most at, you know, sort of at risk at this point between the oil prices being significantly low and the fact the fed is against raising rates. i think they are the ones that are potentially at risk. guy: you bring up the fed. peter: eventually, we had to -- guy: the chief economist of the world bank saying that it could cause panic and turmoil when this happens and the emerging markets. dramatic words. quite