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t_scytale

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t_scytale
·4 ปีที่แล้ว·discuss
> and was exactly the same as what Trump was doing

It really wasn't. Trump is claiming widespread electoral fraud. Big difference.
t_scytale
·4 ปีที่แล้ว·discuss
Here's my understanding of the details.

At the time the Bank of England had committed itself to maintaining the value of Sterling at a rate that was widely considered to be too high.

Soros and a bunch of other large funds and banks decided to take on a coordinated short position. So they...

- borrowed very large sums of Sterling

- exchanged the Sterling for Dollars (or maybe DeutschMarks?)

- waited for Sterling to depreciate

- Sterling now being much cheaper they then used the Dollars to buy back the original loan amount of Sterling and have plenty of Dollars left over

- repaid the loans

The large amounts of Sterling that they were selling would have increased the downward pressure on the price of Sterling, forcing the Bank of England to sell foreign currency reserves to keep the value within the narrow limits it had committed to as part of the ERM.

Due to the open nature of the market other currency speculators would have been aware that all this was going on, and they too started shorting Sterling, further increasing the pressure and forcing the BoE to sell more reserves.

At some stage it became apparent that this was unsustainable and Britain exited the ERM and devalued the currency, creating massive profits for the speculators.
t_scytale
·4 ปีที่แล้ว·discuss
> soft on crime

I think he funds some groups that advocate criminal justice reform.

There is a case to be made that the sky-high incarceration rates are indicative of a wider problem.
t_scytale
·5 ปีที่แล้ว·discuss
There is absolutely no evidence to support this assertion.

Instead there is plenty of evidence that currently there is a lot innovation in all niches of the programming ecosystem - from low level [Rust] to high level, and a lot of coder interest in all the options.

Also talking about "lowest common denominator" comes across as somewhat snobby - many world-class coders use high-level languages when appropriate. It's a matter of choosing the right tool for the job, not dumbing down.