Sec. Scott Bessent | HOW SOROS BROKE THE BANK OF ENGLAND

HOW SOROS BROKE THE BANK OF ENGLAND
U.S Treasury Sec. Scott Bessent revealed how George Soros, Stan Druckenmiller, and their team executed the famous 1992 bet against the British pound.

Their insight? UK homeowners were drowning in floating-rate mortgages, making high interest rates unsustainable.

Druckenmiller identified an asymmetric trade, but Soros pushed even harder - going all in.

The Bank of England couldn't hold the line, and the UK was forced out of the Exchange Rate Mechanism.

The result? A 20% gain in a single day - followed by another 20% before the year-end.