How George Soros Broke the Bank of England

In The UK, September 16, 1992, is known as Black Wednesday, the day when speculators including George Soros and Stanley Druckenmiller "broke the pound." 

This expression is used to describe the moment in time where market forces coalesced to force the British government to exit the European Exchange Rate Mechanism (ERM) by removing its currency from that agreement. 

Joining the ERM was part of Britain's effort participate in a single European Currency.

Crypto - A security or something else?

Crypto is at a crossroads. As exchanges and currencies blow up, the US Securities and Exchange Commission is ready to step in. 

The SEC is on the verge of regulating crypto. But first, America has to decide, again, what a security really is.

Is crypto a security, like a stock? Or a tradable item of speculation, like a Beanie Baby? 

Robert Armstrong and Ethan Wu argue about the benefits and risks of regulating crypto.

Check out thus "Behind the Money" podcast HERE.

The Death of the SPAC Boom

SPACS, or special purpose acquisition companies, were all the rage at the start of the pandemic. These shell companies raise cash by listing on the stock market, and then seek a merger with a private company. This created a novel way for companies to list on the stock market without having to go through the traditional initial public offering process.

Now, Spacs are floundering. The FT’s Ortenca Aliaj talks with guest host Jess Smith about how the Spac investment boom collided with rising interest rates and regulatory threats, and ultimately went bust.

Check out how SPACS went bust HERE. 

Don’t Fall For The Hype in Cryptocurrencies

It’s impossible to avoid - even if you tried - the words cryptocurrency, NFT, and the metaverse. It's as if these futuristic concepts are knocking – no, banging – on our front doors. The world is abuzz with thoughts, curiosities, and judgments about the industry, both in theory and in practice; turning once-fringe ideas into cultural talking points, the punchline of a million jokes, and the booze-fueled party conversation that everyone hates to love.

Is there a decentralized financial utopia beyond the hype of meme coins, billionaires, speculation, and clickbait?

Find out more HERE.

Is the cryptocurrency trading boom creating a new generation of addicts?

With endorsements from celebrities and ads on TikTok, cryptocurrency has gone mainstream. But not everyone gets rich. The Guardian's Rob Davies reports on how crypto apps encourage addictive, high-risk trading habits.

Read or listen to his article HERE.