“A new study of Keynes’s attempts to make money out of movements in the pound against five major currencies of his day – the dollar, French franc, German mark, Italian lire and Dutch guilder – comes to a stark conclusion. He was a great economist but decidedly average foreign exchange dealer.
“The study found that Keynes “experienced periods of considerable losses in both the 1920s and 1930s. Indeed, he was close to being technically bankrupt i...
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