In terms of Soros making money off the pound, this was the fault of the UK government, then under the Conservative Party. They'd locked the currency into the European "Exchange Rate Mechanism" (the lead-up to the formation of the Euro) when the pound was overvalued; it was then expected to remain within a certain range of the initial valuation.What a dickhead.
Imagine crushing entire countries/emerging economies to get money.
Okay, then explain the 1997 Asian financial crisis then?In terms of Soros making money off the pound, this was the fault of the UK government, then under the Conservative Party. They'd locked the currency into the European "Exchange Rate Mechanism" (the lead-up to the formation of the Euro) when the pound was overvalued; it was then expected to remain within a certain range of the initial valuation.
They knew the pound needed t devalue months and months in advance but refused to do anything about it because it would have been extremely embarrassing, and it was just before the 1992 general election. So they spent £££ keeping the pound artificially high. However, there was only ever so long they could keep it up as it became increasing clear the pound needed to devalue, and eventually the full weight of the financial markets came down. It was always going to happen, and even needed to happen for the wider economic health of the UK.
Its like everyone forgets the fable of King Canute and the tides. More realistically, I was under the impression Spain's monarchy held as much if not less power over governance as the British crown did, with even less power as figureheads. So while everyone in Valencia has every right to be pissed and throw mud, are these guys the right targets beyond whatever feelings about monarchists?Spain's king and queen pelted with mud in flood-hit Valencia
Protesters shouted "murderer" at Felipe VI, who was also asked why nothing had been done to avoid the tragedy.www.bbc.com
Common monarchist L.
Yes, they are. No man is a king.Its like everyone forgets the fable of King Canute and the tides. More realistically, I was under the impression Spain's monarchy held as much if not less power over governance as the British crown did, with even less power as figureheads. So while everyone in Valencia has every right to be pissed and throw mud, are these guys the right targets beyond whatever feelings about monarchists?