When George Soros Broke the British Pound (2014)
What I would like to see is what led to the pound being so badly mispriced in the first place. Did they just price it at whatever was the prevailing price? And was that why the Bank of England ended up with such small reserves?<p>Presumably they could have priced it lower and bought up Deutschmarks to bring down the price of pounds and build up reserves to start with when they decided to fix it.<p>There is also the question of how much Germany was contributing to the problem by keeping its currency overly strong, making it harder for other countries to stay in sync. Presumably if the Germans had raised interest rates somewhat and &#x2F; or bought more reserves from other countries they could have helped relieve the pressure.