c/david-graeber
Lectures, interviews, and talks by David Graeber — anthropologist, anarchist, author of Debt: The First 5,000 Years, Bullshit Jobs, and The Dawn of Everything.
…him up to dinner, he's going to say, well, just go into dinner with that guy. He's paying what's enough. Or if you're George Soros and you take him up to dinner, he'll say, great, I got something for another. So this sort of sense of obligation back…
…things to happen where people could rob the world of value through financial manipulation. The classic individual case of this was George Soros, who in 1992, I think it was, bet against the British pound in the exchange rate mechanism. Major had committed…
…England was having a hard time propping up the pound against the Deutschmark, and that something was likely to crack. So George Soros bought and borrowed as many pounds as he possibly could, billions, and turned them all into Deutschmarks, which of course…
…to raise the interest rate two times in a day, nothing happened. They couldn't maintain it and they had to devalue. So then George Soros took all of the Deutschmarks that he'd bought, and he put them back into pounds at a much higher rate, and he got…
…dinner back, even though his theory says he shouldn't. On the other hand, that's only true in certain circumstances. If you're George Soros and you take Milton Friedman out, he'll say, great, I have something for nothing. And on the other hand, if you're…