leonkuravson (leonkuravson) wrote,

Mr Soros And Brexit

Mr Soros, famed as "the man who broke the Bank of England" in 1992, warned a vote for Brexit would lead to a devaluation in sterling far greater than that which enriched him and his investors to almost $1bn back in September 1992 when the pound fell by more than 15%. Soros said a Brexit vote would send sterling down by at least that amount and possibly by more than 20%.

And he said there would be plenty of speculators - like him in 1992 - waiting to cash in on the moves. He wrote: "Today, there are speculative forces in the markets much bigger and more powerful. And they will be eager to exploit any miscalculations by the British government or British voters. For Soros, "Brexit would make some people very rich - but most voters considerably poorer."

Tags: brexit, soros
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