3 votes

Former Chancellor and Prime Minister Gordon Brown sold half of Britain's Gold

A great deal of Gordon Brown’s economic strategy would strike a sane man as troubling. Not a great deal was mysterious. The orgy of consumption spending, frequent extensions of the cycle over which he would “borrow to invest”, proclamations of the “end of boom and bust”: these are part of the armoury of modern politicians, of all political hues.

One decision stands out as downright bizarre, however: the sale of the majority of Britain’s gold reserves for prices between $256 and $296 an ounce, only to watch it soar so far as $1,615 per ounce today.

When Brown decided to dispose of almost 400 tonnes of gold between 1999 and 2002, he did two distinctly odd things.

http://blogs.telegraph.co.uk/finance/thomaspascoe/100018367/...

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.

and Italy?

Is Monti selling Italy's gold to prolong the ride a bit longer?

-Anche in Europa abbiamo bisogno di Ron Paul-