Quote:
Originally Posted by Jim in CT
"How did Soros make a billion dollars in a day?
Others lost."
The loss of others, was NOT a requirement for Soros to win. Like many ignorant people, you think the economy is a zero sum game. It's not. There's no mathematical law saying that someone has to fail in order for someone else to succeed. It's not finite. It's possible that every stock on the exchange can go up in a given day, that does NOT mean anyone else necessarily lost anything. How can you not get that?
Others losing, isn't "how" he won, not unless he cheated. Are you saying he cheated? Was he involved in a 'pump and dump'?
He bet the value of the pound would decrease. His bet, did not cause the pound to decrease.
|
He didn't cause it but it was basically similar to a pump that got dumped, done by the Bank of England to try and prop up the pound that he took advantage of. Others lost, he gained.
So, you're correct, he no more caused that loss than he caused the loss of property to the transported Jews.
Threaded Mode