Question

Who is known as 'The Man Who Broke the Bank of England' after he made a reported $1 billion during the 1992 Black Wednesday UK currency crisis?

• A. George Soros
• B. George W Bush
• C. Paul Volcker
• D. Ben Bernanke

Answer 1

The Correct Option is A

During the 1992 Black Wednesday UK currency crisis, George Soros earned notoriety as 'The Man Who Broke the Bank of England.' This event highlighted his significant impact during the financial upheaval. Soros famously bet against the British pound, betting on its devaluation. The bet paid off when the UK government withdrew the pound from the European Exchange Rate Mechanism (ERM) after failing to keep it above its agreed lower limit. This economic maneuver earned Soros a reported $1 billion in profits, cementing his reputation in financial history.

Option	Explanation
George Soros	The correct answer, known for his significant financial gain during the 1992 crisis.
George W Bush	Incorrect, as he was not related to the event.
Paul Volcker	Incorrect, he was more prominently known for his role in the US Federal Reserve.
Ben Bernanke	Incorrect, he was a former chairman of the Federal Reserve but not associated with Black Wednesday.