It is definitely meant to be a peg, but the only forced mechanism it has is one that exerts upward pressure. The opposite effect of enforcing negative interest would not be very reasonable. A correction is better, but I call it a crash because that looks like what's being attempted here. Someone who is extremely wealthy hoarding as much currency as they can with the sole intention of dumping it at once to lower the price is not a correction, it's a manufactured crash.
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