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The big question is whether the Bank of England would have sold so much GBP if this was allowed to happen gradually rather than overnight. The real problem is s
by marvin 12y ago
The big question is whether the Bank of England would have sold so much GBP if this was allowed to happen gradually rather than overnight. The real problem is still political incompetence, but there's no guarantee that the losses of the British taxpayers would have been equally large if Soros's fund had not made such a spectacular short which sparked a political pissing match.
- seizethecheese 12y agoDefinitely. It's plausible that without Soros the losses would have been much smaller. On the other hand, it is possible that a slower burn would have enabled political inaction and therefore more losses!