George Soros- The man who broke the Bank of England – 1992

The legend of our time – George Soros. Outstanding person with great influence, whose numerous foundations will continue to follow its mission for many years.

The most remarkable career of George Soros has its beginning. In 1992 he made his stroke and in a way that the whole world to know.

In the early 90s the Bank of England is part of the European exchange rate mechanism. Its task is to prevent too large fluctuations in the price of sterling against other currencies in the mechanism. However, the bank promises major interest of 15% of its currency (compared this rate today is around 0.50%) collapse of sterling proved inevitable. One of the main factors for this to happen is undoubtedly Soros himself, who has short positions in the GBP / USD rate of over 10 billion dollars. Besides its direct pressure with positions in the currency market, Soros exercises and public one. In each of its more significant media exposure he predicted with great confidence collapse in the value of the pound still attracting large investors to the idea. Idea, which brings him a profit of 1.1 billion dollars for one night.

George Soros, however, hardly wants to be remembered only as “the man ruined the Bank of England.” Difficult to enumerate all charities through which he and his foundation are trying to make the world better. Money Soros reached literally all over the world in the form of donations such as this for the New Bulgarian University in Bulgaria.

 Varchev Traders

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