Following the last peak nearly thirty years ago, gold went into a long term bear market. That was until Alan Greenspan started the disastrous policy of keeping interest rates artificially low at 1% during the early 2000's.
Since then - just as then UK chancellor of the exchequer Gordon Brown decided to sell half the UKs gold stock - gold has barely looked back.
In US dollar terms it was trading below USD$300 an ounce in 2000 (Gordon Brown's selling price!), compared to USD$1,164 today.
Yeh but it's not as if the money raised by the sale was put into a big pile and burnt was it. It has been spent on services that we have all enjoyed and have (hopefully) bettered and developed our society.
I hate this after timing on decisions like this. Much has happened in the world (wars) to raise the price of gold that no one could have forseen.
Politicians for all their faults do the best they can at the time. I truely believe that. Sure they may have their snouts in the trough some of the time, but they're never going to maliciciously do something like sell gold cheap just for a laugh.
grow up! That money has been spent on things we needed at the time. We can always make more gold.
Yeh but it's not as if the money raised by the sale was put into a big pile and burnt was it. It has been spent on services that we have all enjoyed and have (hopefully) bettered and developed our society. I hate this after timing on decisions like t
You don't sell assets that will always go up in value, if he needed money he could have borrowed against the gold.
When you find out how they make more gold please let me know and I will forever be in your debt.
You don't sell assets that will always go up in value, if he needed money he could have borrowed against the gold. When you find out how they make more gold please let me know and I will forever be in your debt.
surely us hard working british families are making enough money for this country to pay for all the needs of the top 2% bottom 5% of our population
% figure's are of course produced the same way as the government does and plucked from thin air, and i hold no responsibility(like any government minister)as to their accuracy
borrow borrow why do we need to borrowsurely us hard working british families are making enough money for this country to pay for all the needs of the top 2% bottom 5% of our population% figure's are of course produced the same way as the government
There is enough wealth in the Royal family, with its possessions, art, land, hangers-on etc etc to sort out the UK debt.
I don't know why they just don't do the right thing. Kill 2 birds with one stone.
There is enough wealth in the Royal family, with its possessions, art, land, hangers-on etc etc to sort out the UK debt.I don't know why they just don't do the right thing.Kill 2 birds with one stone.
and the tories sold off BT and many other state industries when they could have got hundreds of billions more for them if they had sold them off a few years later, so what
and the tories sold off BT and many other state industries when they could have got hundreds of billions more for them if they had sold them off a few years later, so what
She's all yours BC - when we're at Ascot next year - I'll be taking a bet, or eating a burger or having a wee, while you wave clap and cheer the Royal drive past.
And I'll remind you of this post :)
She's all yours BC - when we're at Ascot next year - I'll be taking a bet, or eating a burger or having a wee, while you wave clap and cheer the Royal drive past.And I'll remind you of this post :)
I couldn't see feck all this year because of the crowd of bastid picnickers standing on chairs, tables and bins behind the joint.
I shall also be having a word with H.M. over the traffic I got stuck in while she walked over the bridge. TWO facking hours from Virginia Water to get onto the course, and the resulting cost of petrol.
I either get a refund or on to the honours list, not sure which yet :)
Study, I couldn't see feck all this year because of the crowd of bastid picnickers standing on chairs, tables and bins behind the joint.I shall also be having a word with H.M. over the traffic I got stuck in while she walked over the bridge. TWO fack
I was working for BT (the post office, as it was then) in 1978/9, Nearctic, in the technology/development offices. This country's telephone exchanges were ready to be moved over to what was called system X (the tonal sound rather than clicking when a number is dialled)then. The almost overnight savings were due to be, and in fact were, massive. All the added value items, (1471, call back, premium rate), added to the culling of staff (standard privatisation trick) because exchanges became virtually maintenance-free.
It was held back deliberately for 3 years, then rolled out gradually after privatisation. Tebbit (the main overseer) was made non-exec chairman on £1 million salary.
Just one of the many nasty selfish little things which helped put us where we are today.
Privatisation is the single biggest cause of this nation's downturn. It helped no-one other than a few greedy shareholders, and a very few with vested interest.
I was working for BT (the post office, as it was then) in 1978/9, Nearctic, in the technology/development offices. This country's telephone exchanges were ready to be moved over to what was called system X (the tonal sound rather than clicking when a
^This is well worth reading, if there is any doubt about the scam that is privatisation.
Sorry I'm slightly wrong. It was £1.2 million in shares, and a big salary. to do nothing!!!!http://www.spinwatch.org/index2.php?option=com_content&do_pdf=1&id=248^This is well worth reading, if there is any doubt about the scam that is privatisation
The gold was not sold and the money spent. It was re-invested to give a more balanced portfolio
I'm no 'lover' of this administration, but the decision to sell half the reserves was not Brown's alone, but on taken on advice. Try the link for a more balanced view.
Some mis-informed comments on here.The gold was not sold and the money spent. It was re-invested to give a more balanced portfolioI'm no 'lover' of this administration, but the decision to sell half the reserves was not Brown's alone, but on taken o
"There is enough wealth in the Royal family, with its possessions, art, land, hangers-on etc etc to sort out the UK debt" Are you actually being serious with that post.
"There is enough wealth in the Royal family, with its possessions, art, land, hangers-on etc etc to sort out the UK debt"Are you actually being serious with that post.
pussyclart the grasser/stalker/nutjob not posted on this thread yet ?
She won't like the fact that I was working at Royal Ascot with a left winger.
Studyform must be on the shortlist for a firing squad for treachery.
pussyclart the grasser/stalker/nutjob not posted on this thread yet ?She won't like the fact that I was working at Royal Ascot with a left winger. Studyform must be on the shortlist for a firing squad for treachery.
but to be fair to her, she had no choice. she was obliged to, in her capacity as Agent in Commerce for the Crown - The Crown not being the royal family, but a private company, owned by the international super-elite.
but to be fair to her, she had no choice. she was obliged to, in her capacity as Agent in Commerce for the Crown - The Crown not being the royal family, but a private company, owned by the international super-elite.
international super elite being representatives of the vatican.
the City Of London btw, is not in England. it is an independent state, owned by the Crown.
international super elite being representatives of the vatican. the City Of London btw, is not in England. it is an independent state, owned by the Crown.
Where is pussyclart, the grassing stalker nutjob ?
Has she not seen that I was at Royal Ascot while she was in her Newham bedsit typing abuse on here.
Newham is in London, that's a state as well. Where is pussyclart, the grassing stalker nutjob ? Has she not seen that I was at Royal Ascot while she was in her Newham bedsit typing abuse on here.
Yeh but it's not as if the money raised by the sale was put into a big pile and burnt was it. It has been spent on services that we have all enjoyed and have (hopefully) bettered and developed our society.
Supreme irony or else a comment from cloud cuckoo land.
rustyboy 24 Nov 08:25 Yeh but it's not as if the money raised by the sale was put into a big pile and burnt was it. It has been spent on services that we have all enjoyed and have (hopefully) bettered and developed our society. Supreme irony or els