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had a major hand in a (legal) monetary speculation that produced a currency crisis in the UK He did not produce the crisis. He observed, rightly, that the poun
by CaptainZapp 8y ago
had a major hand in a (legal) monetary speculation that produced a currency crisis in the UK
He did not produce the crisis. He observed, rightly, that the pound was massively overvalued and that this was not sustainable.
He bet the bank on this fact and won.
He certainly didn't produce the crisis.
- spamizbad 8y agoYep. And it’s worth pointing out in the wake of the 2008 recession, Peter Thiel made a similar bet against the US dollar and lost.