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Following the crisis, there was a run
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The Spider's Web: Britain's Second Empire

Following the crisis, there was a run on the sterling, on the UK pound

Following the crisis, there was a run on the sterling, on the UK pound

Full Transcript

00:00:01.000 --> 00:00:03.117
- Following the crisis, there was a run
00:00:03.117 --> 00:00:05.867
on the sterling, on the UK pound.
Duration
7 seconds
Views
22
Timestamp in Movie
00:04:26
Uploaded
Oct 30, 2025
Genres
documentary
Production
N/A

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Movie Summary

How Britain transformed from an imperial power to a financial power.
Some people suspected the American government - The Spider's Web: Britain's Second Empire 00:09
Some people suspected the American government
- [Narrator] As financiers withdrew their money - The Spider's Web: Britain's Second Empire 00:07
- [Narrator] As financiers withdrew their money
To protect the value of the pound, - The Spider's Web: Britain's Second Empire 00:07
To protect the value of the pound,
- They were not able to invest abroad. - The Spider's Web: Britain's Second Empire 00:05
- They were not able to invest abroad.
And we don't know exactly the context, - The Spider's Web: Britain's Second Empire 00:16
And we don't know exactly the context,
It seems that they have reached an agreement, - The Spider's Web: Britain's Second Empire 00:28
It seems that they have reached an agreement,
- [Narrator] The banks began to create a market - The Spider's Web: Britain's Second Empire 00:08
- [Narrator] The banks began to create a market
To differentiate these Euromarket activities - The Spider's Web: Britain's Second Empire 00:10
To differentiate these Euromarket activities
The Bank of England, the UK regulator, declared - The Spider's Web: Britain's Second Empire 00:08
The Bank of England, the UK regulator, declared
They were elsewhere, and therefore it had no responsibility - The Spider's Web: Britain's Second Empire 00:07
They were elsewhere, and therefore it had no responsibility
- It's about providing a legal space - The Spider's Web: Britain's Second Empire 00:09
- It's about providing a legal space
And the importance of that is - The Spider's Web: Britain's Second Empire 00:09
And the importance of that is
So you're taking activity from the place - The Spider's Web: Britain's Second Empire 00:09
So you're taking activity from the place
- [Narrator] When American banks realized - The Spider's Web: Britain's Second Empire 00:11
- [Narrator] When American banks realized
Around the same time as American banks - The Spider's Web: Britain's Second Empire 00:18
Around the same time as American banks
- Back in the '60s, - The Spider's Web: Britain's Second Empire 00:06
- Back in the '60s,
The stories go that the mosquitoes were so thick - The Spider's Web: Britain's Second Empire 00:09
The stories go that the mosquitoes were so thick
- [Narrator] Accountants and lawyers from London arrived - The Spider's Web: Britain's Second Empire 00:13
- [Narrator] Accountants and lawyers from London arrived
Because these jurisdictions' main selling point was secrecy, - The Spider's Web: Britain's Second Empire 00:09
Because these jurisdictions' main selling point was sec...
- What the Cayman Islands was doing - The Spider's Web: Britain's Second Empire 00:06
- What the Cayman Islands was doing