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There's an old legal aphorism that goes, "If you have the facts on your side, pound the facts. If you have the law on your side, pound the law. If you have neither on your side, pound the table."
In financial circles, "pounding the table" is most commonly used as a synonym for "promoting".
In the mid 1960s the pound came under renewed pressure since the exchange rate against the dollar was considered too high.
The pound was eventually devalued by 14.3% to 2.41 dollars in November 1967.
In 1988, the Thatcher government decided that the pound should 'shadow' the German Deutsche Mark, with the unintended result of of a rapid rise in inflation as the economy boomed due to inappropriately low interest rates.
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