So 55% of Scotland took notice of Gordon Brown ????? Britains gold reserves were sold at a ludicrously low price by GORDON BROWN This strategy would strike a sane man as troubling. 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, it had the effect of sending the spot price of gold to a 20-year low, as implied by basic supply and demand theory. Second, the Treasury elected to sell its gold via auction. The auction system again frequently achieved a lower price than the equivalent fixed price. It seemed almost as if the Treasury was trying to achieve the lowest price possible for the public’s gold. Goldman Sachs, is rumoured to have approached the Treasury to explain the situation through its then head of commodities Gavyn Davies, later chairman of the BBC and married to Sue Nye WHO RAN Gordon Brown’s private office. While the market manipulation which occurred when the gold reserves were sold was not illegal as the abuse at Barclays may have been, the moral atmosphere in which it took place was identical. Responsibility is evaded by ALL bar those on whose shoulders it ought to rest. The gold panic of 1999 was expensively paid for by the BRITISH PUBLIC.
Posted on: Fri, 19 Sep 2014 19:06:11 +0000
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