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Great stuff in the sense that one person can directly profit to the tune of a billion dollars, by manipulating currency markets, at the cost of the taxpayers of
by Blahah 10y ago
Great stuff in the sense that one person can directly profit to the tune of a billion dollars, by manipulating currency markets, at the cost of the taxpayers of an entire nation. So, not great stuff at all.
- shitgoose 10y agoHe did not manipulate pound. UK government manipulated it by locking the exchange rate that did not reflect the fundamentals. Pound was doomed, Soros just profited from the crash. So, yes, great stuff - government should pay for its stupidity. Unfortunately they pay with our money...
- Blahah 10y agoHe shorted the pound enough to move the market significantly, and his buyback strategy deliberately prevented any stabilisation. The crash wouldn't have happened or at least wouldn't have been as bad without his involvement.
- shitgoose 10y agohttps://www.youtube.com/watch?v=K_oET45GzMI https://www.youtube.com/watch?v=K_oET45GzMI a good overview of the origins of the crisis. how politicians for their own shortsighted gains made one poor decision after another and led the country into financial crisis.