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> That's the thing about bank-runs. The first person to sell benefits. no, those selling due to the bank run don't really benefit from the run (aka, they don't
by chii 4y ago
> That's the thing about bank-runs. The first person to sell benefits.
no, those selling due to the bank run don't really benefit from the run (aka, they don't make profit). They just _don't lose as much_ as the last to sell.
I'm talking about whether anyone made a profit from this run, like https://www.investopedia.com/ask/answers/08/george-soros-bank-of-england.asp https://www.investopedia.com/ask/answers/08/george-soros-ban... , in which he managed to short sell the pound and gathered enough capital (his and others') to sell the pound to cause it's value to drop (and force the central bank to sell foreign currency to buy the pound, in order to keep the pound peg).
- dragontamer 4y agoAnchor, who sold you those UST for 82-cents per 1 UST (aka: 18% APY), was "only going to win" when UST crashed below 82-cents.