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…and many normal people have suffered so bankers could have their fun. This is so evil on so many levels, that few people in suits can have such an impact of wh

…and many normal people have suffered so bankers could have their fun. This is so evil on so many levels, that few people in suits can have such an impact of whole country finances. We all believe in a dream that it’s competition and market prices that drive economy, and then this happens.

CamelCaseName 4y ago
When you say "a few people in suits", you must be talking about the Bank of England and not Soros, right? Because it's the Bank of England that was fixing the price. By breaking the peg, Soros introduced competition.
- deleted 4y ago
  [deleted]
unmole 4y ago
> so bankers could have their fun I don't think the Bank of England was having fun, they were under political pressure. > This is so evil on so many levels, that few people in suits can have such an impact of whole country finances. Absolutely, it's immoral for central banks to manipulate currency markets. It only strengthens the argument for central banks to have defined mandates and be free from political interference. > We all believe in a dream that it’s competition and market prices that drive economy, and then this happens. Well, the BoE tried to enforce its will on the market and predictably failed. Once the charade ended, inflation came down over the next years the British economy recovered from the recession it was in before the event. Wait, you don't actually blame Soros for this, do you?
- sgt101 4y ago
  I think Soros did us a service. He also doesn't seem to be too terrible a person in terms of what has happened to the money he made (legitimately IMO) either.
kache_ 4y ago
Our financial instruments/primitives are horribly primtive, which makes them weak to outside attacks like these
pjc50 4y ago
> it’s competition and market prices that drive economy It really is competition and market prices that drive the economy... controlled by a few people in suits. And money itself is part of the market.

CamelCaseName 4y ago

When you say "a few people in suits", you must be talking about the Bank of England and not Soros, right? Because it's the Bank of England that was fixing the price. By breaking the peg, Soros introduced competition.

deleted 4y ago
[deleted]

unmole 4y ago

> so bankers could have their fun I don't think the Bank of England was having fun, they were under political pressure. > This is so evil on so many levels, that few people in suits can have such an impact of whole country finances. Absolutely, it's immoral for central banks to manipulate currency markets. It only strengthens the argument for central banks to have defined mandates and be free from political interference. > We all believe in a dream that it’s competition and market prices that drive economy, and then this happens. Well, the BoE tried to enforce its will on the market and predictably failed. Once the charade ended, inflation came down over the next years the British economy recovered from the recession it was in before the event. Wait, you don't actually blame Soros for this, do you?

sgt101 4y ago
I think Soros did us a service. He also doesn't seem to be too terrible a person in terms of what has happened to the money he made (legitimately IMO) either.

kache_ 4y ago

Our financial instruments/primitives are horribly primtive, which makes them weak to outside attacks like these

pjc50 4y ago

> it’s competition and market prices that drive economy It really is competition and market prices that drive the economy... controlled by a few people in suits. And money itself is part of the market.