When a Hungarian financier called George Soros shorted the English pound 30 years ago, back in 1992, the British government fought back. It did everything it could to preserve the value of its national currency. British officials raised interest rates all the way to 15%. The Bank of England then sold $40 billion of foreign currency reserves in a desperate effort to prop up the pound.
In the end, of course, it didn't work. The Bank of England collapsed. Total cost to the population of Great Britain? Well, that's hard to measure, but it was at least 3 billion pounds. This at a time when a pound was worth nearly 2-and-a-half dollars. It's now at $1.20, which tells you a lot. The U.K. got poorer, but not George Soros. His fund made off with a billion dollars in profit — a billion dollars for creating nothing, only destroying things.
In the years since, Soros has become richer still, billions and billions of dollars richer. George Soros has become so rich that at this point Western governments rarely fight back when he interferes in their most basic domestic affairs, the most important domestic affairs. In 2015, for example, Soros decided that Europe had to resettle millions of penniless refugees from Africa and the Middle East. Relatively few Europeans wanted this to happen at all, but George Soros wanted it.
So, he spent more than half a billion dollars pushing NGOs and European governments to accept what turned out to be a massive wave of human migration. So, what happened next? What's the second part of the story? Well, there is a humanitarian crisis. That crisis is still going on.
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