2007-01-16 05:29:42 · 11 answers · asked by Anonymous in Politics & Government ➔ Other - Politics & Government
has more than doubled will our genius chancellor be buying several tons of it back?
2007-01-16 05:31:37 · update #1
Depends upon who will get an honour out of the deal.
Unfortunately, due to the new draconian laws in place here, we cannot even complain about his lack of foresight.
I see no ships............
2007-01-16 05:34:51 · answer #1 · answered by Dadams 3 · 0⤊ 0⤋
The gold reserves are a pretty minimal part of the UK's national wealth these days. The sale, which was of 415 tonnes of gold, only raised about $3.5billion - less than £2billion. Even doubling this if the price had been higher would only raise it to £4billion. In contrast government spending on defence alone is currently just over £30billion pounds per year. Total government spending per year is currently about £520billion. I admit the timing of the sale could have been better but in the broader scheme of government spending it didn't really make a lot of difference.
2007-01-17 06:26:17 · answer #2 · answered by Huh? 7 · 0⤊ 0⤋
It doesn't look particularly bright with hindsight - his record doesn't stand up to closer scrutiny - fiddling the inflation targets and figures to keep the house bubble going so his tax rises won't completely strangle the economy.
Selling off our Gold reserves at rock bottom prices is just one of his first looting manoevres - looting £100 billion from people's pension funds was another - taking money that won't be noticed for a while!
2007-01-17 02:01:39 · answer #3 · answered by LongJohns 7 · 0⤊ 0⤋
i might want to signify you ask Mr Brown this question for the answer yet as all of us understand he's a political candidate so he's a born liar. Politicians artwork on many diverse degrees all of them interior the sub regularly occurring variety so flogging the gold likely paid for each of the quangos and the lavatory Lewis procuring lists
2016-10-15 07:41:33 · answer #4 · answered by hinshaw 2 · 0⤊ 0⤋
I doubt it.!
This is for Paul.................................
FACT.................Between 1999 and 2002 Brown sold 60% of the UK's gold reserves at $275 an ounce. It was later attacked as a "disastrous foray into international asset management" as he had sold at close to a 20-year low. Prices went on to reach $700 an ounce in May 2006 - he could have raised £4bn for the public had he waited. He pressured the IMF to do the same , but it resisted.
The mans an idiot!!!!!!!!
2007-01-16 05:56:20 · answer #5 · answered by Anonymous · 1⤊ 0⤋
The man is a driveling idiot and we are supposed to regard this walking disaster area as the P.M. in waiting.
2007-01-16 05:35:46 · answer #6 · answered by ♣ My Brainhurts ♣ 5 · 1⤊ 0⤋
I thought he was an idiot when he did it. He probably bought Yahoo at $500 a share back then.
2007-01-16 05:48:06 · answer #7 · answered by Anonymous · 1⤊ 0⤋
OMG! Well, why doesn't this surprise me?? I think that our country really is going to hell in a handbasket.
2007-01-16 05:36:56 · answer #8 · answered by iga k 3 · 1⤊ 0⤋
I didnt know that. Its shameful
2007-01-16 05:57:03 · answer #9 · answered by ambertottie 3 · 1⤊ 0⤋
what are your sources? i will not be voting for anyone other than blair in the labour party anyways.
2007-01-16 05:38:49 · answer #10 · answered by Piffle 4 · 1⤊ 2⤋