This is an amazing story which impinges on all of those subjects and puts a lie to the “Fact” that nobody is big enough to move the markets !
Enjoy John Majors insistence that Uk joins the Exchange Rate Mechanism and the role “they” tell you Interest Rates have on exchange Rates.
For those old enough to remember - were were you that day ?
Ups and downs are the part of huge economies as it is a game of fluctuations. I think England is a huge economy of the world and it has the best minds behind the economy as well. It also has the ability to overcome every kind of situation whether it is good or bad. Do you agree?
Sorry I missed your post @Wonel Yes I pretty much agree with what you say here - however we (Brits) do get ourselves lumbered with some dreadful poiticians - who seem to believe we are sheep to be dictated to !
I was having a fairly deep chat with a good mate today and the conversation as always got around to Brexit and T. May’s performance.
He said, "Chamberlain in drag ! "
https://www.theguardian.com/world/2009/sep/05/chamberlain-munich-appeasement-second-world-war
Interesting to note the German involvement in that Pound crisis that Major oversaw, (Post 1 ths thread) as well , when they refused (essentailly) to aid Italy or the UK - Note the essential parallels there with the events currently unfolding again between those 3 players - although Italy seems to be “Stuck with it” having joined the Euro and locked their domestic troubles into repayment in Euros, instead of being able to take the necessary steps within their own economy.
Instead they are being threatened with FINES of a percentage of their GDP! which can only make matters worse for Italian citizens
The more I see of this thing, the more convinced I become that WE made the RIGHT decision on “Freedom day” !
(Incidentally the question was
“IN _ or_ OUT” There was no mention of any “Deals” - just “IN or OUT”
The answer was
OUT ! )
Here’s hoping they listen to the people!(from a Yank)
Thanks mate 
Let’s put it like this - It’s too late for “HER” to listen now and IF it gets voted through Parliament, assuming the vote was evenly spread across the Parties, 52% of Conservative voted “OUT” ! That being the case, you will never see another Conservative Government in my lifetime !
I shall continue to vote but the other way ! At least Corbyn has SOME Integrity !
If the Conservatives have so little respect for US, THEY will be out on the street at the next Election !
And she will be a figure of derision in history, just as Chamberlain is !
Have you watched that video @cigarmanstan ? It is incredibly relevant !
See how Major pushed her (Maggie !) to join the ERM, so she did reluctantly - unilateraly at a HIGH exchange rate. Stitched him up a treat ! on leaving No 10 for the last time she said with an ironic smile
“And I wish John Major, all the luck in the world …”
(aside - he’ll need it 
)
The German bank was pissed about her joining without “Negotiation” and that Major would not increase Britain’s hardships by raising interest rates to follow Germany, so as Soros said "The Bundesbank gave us the NOD ! " - We took that cue to attack the pound !
Italy’s problems were mentioned too and yet they went ahead and joined the Euro !
Well worth the watch mate !
Soros said on camera there that he sold £10, BILLION and the drop was 10% plus, so he made over £1 Billion profit that day !
Just did. Remarkable! Simply remarkable! Were you trading back then?
No mate - That Day I was on a roof - I had a little roofing business and had just stripped felted, battened and reslated a terraced house. We were finishing off the leadwork and pointing the next day and the woman came out and said,
"Interest rates just hit 15% - I don’t know whether to pay You or my mortgage ! "
I said,
"well you suit yourself, I can soon enough take this roof back off again ! "
Fortunately everybody got paid and once we were OUT of our commitment to the “Pre-EU” the economy got back on track and the good times came back - Just like they will this time, if Parliament kick that damned woman’s " Agreement" into touch and hold their heads up high !
Fascinating documentary.
Of course, we did see it all over again, this time with the Swiss National Bank getting hung out by the markets.