woensdag 19 september 2018

Britain’s revenge for Black Wednesday

Nick Hubble

Dear Reader,

Last weekend was the anniversary of Black Wednesday. On the 16th of September in 1992, Britain abandoned the Exchange Rate Mechanism. The pound plunged 17%.

The Bank of England lost £3.3 billion trying to defend the pound. George Soros made a billion by betting on the crash.

He humiliated the country and broke the Bank of England.

It’s time for Britain to seek revenge.

These days, George Soros is investing his billions in the European project. He’s battling eurosceptics across the continent from Hungary to Britain.

Soros’ motives completely mystify me. In 1992 and 1997 he made his money by betting that currency pegs don’t work. He learned that lesson when his career first began in the 70s, when Britain left the currency snake.

Yet the euro is in effect a currency peg. It fixes the exchange rates between countries in the eurozone. It suffers from precisely the same flaws as the ERM did in 1992 and the currency snake in the 70s.

George Soros has blundered into his own trap.

Next month, that trap springs shut around him. The euro project will begin to fail. And thanks to Brexit, Britain could have its revenge.

Are you ready to break the bank of Europe to potentially win big, George Soros style? My readers are.

And in this special briefing, I’m willing to reveal to you precisely what’s going on.

Best wishes,

Nick Hubble
Editor, Capital & Conflict