When George Soros Broke the British Pound (2014)
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When George Soros Broke the British Pound (2014)
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Re: When George Soros Broke the British Pound (2014)
#2The "Soros broke the bank" framing I tend to see in discussions of this is really quite odd, as if it were some sort of illegal Oceans 11 style heist.
He didn't break the bank. The bank broke itself.
> What kept the pound from plummeting in value was the British government’s guarantee that it would keep the value propped up, and the market believed that it would. As long as everyone believed that England would stay indefinitely committed to buying pounds for around 2.95 Deutschemarks, the status quo was maintained.
If you build a house on rotten stilts, and some neighborhood kid comes and kicks one of them, it's not the kid's fault when the house collapses.
Re: When George Soros Broke the British Pound (2014)
#3The "Soros broke the bank" framing I tend to see in discussions of this is really quite odd, as if it were some sort of illegal Oceans 11 style heist. He didn't break the bank. The bank broke itself. > What kept the pound from plummeting in value was the British government’s guarantee that it would keep the value propped up, and the market believed that it would. As long as everyone believed that England would stay i…
> If you build a house on rotten stilts, and some neighborhood kid comes and kicks one of them, it's not the kid's fault when the house collapses.
It's at least partially the kid's fault. Don't go kicking stilts under houses.
Re: When George Soros Broke the British Pound (2014)
#4The "Soros broke the bank" framing I tend to see in discussions of this is really quite odd, as if it were some sort of illegal Oceans 11 style heist. He didn't break the bank. The bank broke itself. > What kept the pound from plummeting in value was the British government’s guarantee that it would keep the value propped up, and the market believed that it would. As long as everyone believed that England would stay i…
Ah yes. When it's Wall Street doing it it's "greedy evil bankers" but when it's Soros, a vocal advocate of liberalism, suddenly it's just business as usual.
Re: When George Soros Broke the British Pound (2014)
#5The "Soros broke the bank" framing I tend to see in discussions of this is really quite odd, as if it were some sort of illegal Oceans 11 style heist. He didn't break the bank. The bank broke itself. > What kept the pound from plummeting in value was the British government’s guarantee that it would keep the value propped up, and the market believed that it would. As long as everyone believed that England would stay i…
True. And if a kid pushes an old man and he breaks his hip, that's the old man's fault for getting old!
Oh, wait. https://twitter.com/ceejayoz
Re: When George Soros Broke the British Pound (2014)
#6The "Soros broke the bank" framing I tend to see in discussions of this is really quite odd, as if it were some sort of illegal Oceans 11 style heist. He didn't break the bank. The bank broke itself. > What kept the pound from plummeting in value was the British government’s guarantee that it would keep the value propped up, and the market believed that it would. As long as everyone believed that England would stay i…
Ah yes. When it's Wall Street doing it it's "greedy evil bankers" but when it's Soros, a vocal advocate of liberalism, suddenly it's just business as usual.
I think it's kinda funny, 2019 Soros desperately wants Britain to remain in the EU (and funds various groups accordingly)
whereas 1990s Soros did his best to force Britain out of the ERM
if Britain stayed in the ERM until the point it became the Euro: there's no way brexit would have been even remotely possible
Re: When George Soros Broke the British Pound (2014)
#7The "Soros broke the bank" framing I tend to see in discussions of this is really quite odd, as if it were some sort of illegal Oceans 11 style heist. He didn't break the bank. The bank broke itself. > What kept the pound from plummeting in value was the British government’s guarantee that it would keep the value propped up, and the market believed that it would. As long as everyone believed that England would stay i…
> If you build a house on rotten stilts, and some neighborhood kid comes and kicks one of them, it's not the kid's fault when the house collapses. It's at least partially the kid's fault. Don't go kicking stilts under houses.
If someone will pay you billions to go kicking stilts there would be few who could resist. Betting against a nation state is usually a losing proposition, Soros happened to have large enough boots to do the kicking.
Re: When George Soros Broke the British Pound (2014)
#8Earlier quoted context omitted.
Ah yes. When it's Wall Street doing it it's "greedy evil bankers" but when it's Soros, a vocal advocate of liberalism, suddenly it's just business as usual.
I think it's kinda funny, 2019 Soros desperately wants Britain to remain in the EU (and funds various groups accordingly) whereas 1990s Soros did his best to force Britain out of the ERM if Britain stayed in the ERM until the point it became the Euro: there's no way brexit would have been even remotely possible
Is that all that strange?
Things change over 20 to 30 years?
Re: When George Soros Broke the British Pound (2014)
#9The "Soros broke the bank" framing I tend to see in discussions of this is really quite odd, as if it were some sort of illegal Oceans 11 style heist. He didn't break the bank. The bank broke itself. > What kept the pound from plummeting in value was the British government’s guarantee that it would keep the value propped up, and the market believed that it would. As long as everyone believed that England would stay i…
Soros shills in full force.
"If you build a house in a brush canyon and then someone lights the brush on fire, it's YOUR fault for building house there."
Ummmm... ok
Re: When George Soros Broke the British Pound (2014)
#10Earlier quoted context omitted.
Ah yes. When it's Wall Street doing it it's "greedy evil bankers" but when it's Soros, a vocal advocate of liberalism, suddenly it's just business as usual.
I think it's kinda funny, 2019 Soros desperately wants Britain to remain in the EU (and funds various groups accordingly) whereas 1990s Soros did his best to force Britain out of the ERM if Britain stayed in the ERM until the point it became the Euro: there's no way brexit would have been even remotely possible
Depends on what his motivations are, is it to make money? In out is only relevant to what your betting on.