[Perceval]

>Forex speculators don't cause currency collapses

George Soros played a role in the collapse of the Thai Baht, during the early stages of the Asian Financial Crisis in 1997. He also personally caused the sudden drop of the British Pound in the 1992 'Black Monday,' which led Britain to leave the European ERM.

People on eToto obviously will not cause this kind of damage. But it's incorrect to say that foreign exchange / currency speculation cannot cause a currency collapse.

[jarek]

It is important to differentiate between the immediate trigger and the underlying cause.

[byrneseyeview]

Britain's strategies were unsustainable. Without Forex traders, such strategies would just be used more, leading to more economic distortion. In forex, as in other markets, you can't push prices further away from their real values unless someone else is going to do the same after you.

[kydoh]

Soros has also been on record to say that he wouldn't be able to do the same thing today given the massively increased complexity of the foreign exchange markets - things were different, even just ten years ago.