How George Soros Destroyed The British Pound

In this video we go over how hedge fund manager George Soros broke the Bank of England. In the early 1990s the UK pegged its currency to the German Deutsche Mark at a fixed exchange rate They did this in an attempt to import Germany’s low inflation. However, the peg was higher than the fundamentals of the UK economy could justify and it was thus unsustainable. Sors saw the opportunity and initiated a massive short position with a notional value of 10 billion pounds. When the Bank of England was finally forced to withdraw from the exchange rate the pound fell 20% and Soros made a profit of 1 billion pounds. This went down as one of the greatest trades by any hedge fund in history. Email us: Check out our new website: Support us on Patreon: #Wallstreetmillennial –––––––––––––––––––––––––––––– Buddha by Kontekst Creati