It all happened in the spring of 1992. At the time, Soros saw that the british economy was dragging along so many problems, they would end up affecting the pound, a scenario that he took advantage of by positioning himself against the pound. The result was that in a matter of months, Soros made profits of more than $1 billion while the Bank of England saw the value of the pound fall, forcing the government to make the difficult decision to leave the European Exchange Rate System
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