The Mudcat Café TM
Thread #162855   Message #3927314
Posted By: Iains
27-May-18 - 03:49 AM
Thread Name: BS: Post Brexit life in the UK
Subject: RE: BS: Post Brexit life in the UK
"It emerged in February that Best for Britain had accepted a £400,000 donation from Mr Soros, the Hungarian-born financier who bet against sterling on Black Wednesday in 1992 – earning him one billion dollars."Really? Twenty six years, One billion dollars? In one deal?
Do you actually believe that?


Yes. Is there any particular reason I should not? If you are trying to make some sort of point may I suggest you research the topic first. Then you would not look quite so stupid.

The Independant:
George Soros is widely known as the man who “broke” the Bank of England in 1992, when he bet against the pound and made a reported £1.5bn.

Investopedia:
The British government gave in and withdrew from the ERM as it became clear that it was losing billions trying to buoy its currency artificially. Although it was a bitter pill to swallow, the pound came back stronger because the excess interest and high inflation were forced out of the British economy following the beating. Soros pocketed $1 billion on the deal and cemented his reputation as the premier currency speculator in the world.

Forbes:
no one made more than Soros, who cleared $1.5 billion in that fateful month of September. (The score made Soros' legend and swelled his firm's coffers; assets under management jumped to $7 billion, from $3.3 billion, by mid-October 1992, and to $11 billion by the end of 1993.)