kaal:claim:3402701-022

Contesting the standard reading, the authors argue Soros broke the Bank of England not because the pound lacked full foreign reserve backing but because the pound was pegged at an inauthentic value.

Soros was not able to break the Bank of England because it wasn't fully backed with foreign reserves, but because the British pound was being pegged at a value that was inauthentic

Craig Calcaterra, Wulf A. Kaal, Vadhindran K. Rao, Stable Cryptocurrencies - First Order Principles (2019), 3.1.2.3 Hot Money Ratio, p. 20
https://ssrn.com/abstract=3402701 · source PDF

Craig Calcaterra, Wulf A. Kaal, Vadhindran K. Rao, Stable Cryptocurrencies - First Order Principles (2019). SSRN: https://ssrn.com/abstract=3402701

mechanismsupport: arguedconsensus-and-security

• extended_by kaal:claim:3782216-028 The lesson of the Soros attack is that when a cryptocurrency is pegged above its true market value, the differ...

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