1.   During the Depression, President Franklin D. Roosevelt devalued the dollar against gold.

2.   The global stock sell-off was triggered almost three weeks ago by a rout in Hong Kong stocks on concern the Hong Kong dollar might be devalued.

3.   The global stock sell-off was triggered by a rout in Hong Kong stocks on concern the Hong Kong dollar might be devalued.

4.   Rates are being kept high by fears that the Hong Kong dollar will be devalued.

5.   Such a devaluation would force Hong Kong to devalue its dollar, which is linked at a stable rate to the U.S. dollar.