WHEN SOROS AND DRUCKENMILLER BROKE THE BANK OF ENGLAND | Sleepy Stock Market

On September 16, 1992, George Soros and Stanley Druckenmiller shorted $10 billion worth of British pounds and made over $1 billion in a single day. The Bank of England spent £3.3 billion defending the pound, raised interest rates to 15%, and still lost by evening. The trade — known as Black Wednesday — forced Britain out of the European Exchange Rate Mechanism and cemented Soros as the man who broke the Bank of England. What most people don't know is that Druckenmiller built the position first, and the British economy actually boomed afterward.🎧 Part of the Sleepy Stock Market series — financial history told as documentary audio.━━━━━━━━━━━━━━━━━━━━━━━━━━━━━SLEEPY STOCK MARKET Fall asleep to the greatest stories in financial history.━━━━━━━━━━━━━━━━━━━━━━━━━━━━━#BlackWednesday #GeorgeSoros #Druckenmiller #BankOfEngland #ForexTrading #FinancialHistory #HedgeFund #QuantumFund