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eternalfuture · 19-11-2004, 18:42

TRADERguy,

I think Soros didn't manipulate the market at that time. I think he knew that UK will exit the ERM no matter what because of the matter of interest rates and exchange rates. It was a speculative move/bet based on a policy flaw (by the UK). Soros didn't decide the entry nor the exit of UK into/out of ERM.

It's just like today, when the Treasury had a weak dollar in mind, but kept on chanting the "strong dollar policy". Anybody who still believe in strong dollar policy should have his/her head examined.

Exploiting this issue by selling dollar is the same as what Soros did back then.

Cheers

19-11-2004, 18:42	#8
eternalfuture Padawan Join Date: Aug 2003 Posts: 892 Downloads: 0 Uploads: 0 Rep Power: 0	Soros and the pound TRADERguy, I think Soros didn't manipulate the market at that time. I think he knew that UK will exit the ERM no matter what because of the matter of interest rates and exchange rates. It was a speculative move/bet based on a policy flaw (by the UK). Soros didn't decide the entry nor the exit of UK into/out of ERM. It's just like today, when the Treasury had a weak dollar in mind, but kept on chanting the "strong dollar policy". Anybody who still believe in strong dollar policy should have his/her head examined. Exploiting this issue by selling dollar is the same as what Soros did back then. Cheers __________________ Those who are not ready to lose, do not deserve to win...