September 16th, 1992. George Soros made $1 billion in 24 hours by betting against the British pound—the single most profitable trade in history. The British government spent $27 billion trying to stop him. They failed. By midnight, Britain crashed out of the European Exchange Rate Mechanism, the pound collapsed 15%, and Soros became the man who broke the Bank of England.
This is the story of how one hedge fund manager destroyed a currency, bankrupted a government, and walked away richer while an entire nation paid the price. From Soros’s escape from Nazi-occupied Hungary to the chaos of Black Wednesday when Britain spent billions per hour defending the indefensible, discover how $15 billion in speculative attacks overwhelmed a nation’s reserves and changed economic history.
But here’s the twist: Within months, Britain’s economy was thriving. Economists argue Soros did Britain a favor by forcing them out of a system strangling their economy. Yet he also profited massively from pain, repeated the pattern in Asia’s 1997 crisis, and proved private speculators can defeat nation-states. Was he a villain who destroyed economies for profit? Or a hero who exposed bad government policy? The answer is both.
TIMESTAMPS:
0:00 – September 16, 1992
2:15 – Soros: From Budapest to Billionaire
4:30 – Britain’s Fatal Mistake
7:45 – Soros Spots the Weakness
10:20 – Black Wednesday: The $27 Billion Battle
14:50 – Britain Surrenders
16:30 – Who Paid the Price?
18:45 – The Pattern Repeats
20:10 – Should We Allow This?
Credit to : BankingCarnage