25Apr12:03 pmEST

Black Wednesday

From 1997 on the BBC, here is a good Saturday educational documentary.

"Black Wednesday" refers to September 16th, 1992 when the British Conservative government was forced to withdraw the pound sterling from the European Exchange Rate Mechanism (ERM) after it was unable to keep the pound above its agreed lower limit in the ERM.

George Soros, in this legendary trade, made over 1 billion GBP profit by short selling the sterling.

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