The Ring of Finance
Technically, this is 1929. The only question is whether the Depression of 1930 will follow.
—George Soros, October 1987, twenty years before the subprime crisis
The collapse of the global marketplace would be a traumatic event with unimaginable consequences. Yet I find it easier to imagine than the continuation of the present regime.1
—George Soros, February 1995, twelve years before the subprime crisis
SIR ISAAC NEWTON was not just the world’s greatest mathematician and scientist. He was also Master of the Royal Mint in London from 1699 to 1727, a period that took in the South Sea Bubble, perhaps the most notorious of all the booms and busts that have punctuated financial history. With his incomparable ...