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AI Summary
- In 1992, George Soros' hedge fund, led by the future Treasury Secretary pick Scott Bessent, executed a legendary trade betting against the British pound.
- The Bank of England fought to stabilize the pound while Soros' fund wagered on its collapse in a intense financial battle during fall 1992.
- Robert Johnson, a managing director at Soros' fund, provides a detailed account of this watershed moment that shifted the balance of power between markets and governments.