Who stole the family's gold?

[redken1]

In 1999, Gordon Brown, the not so “Prudent” Chancellor at the time sold of 395 tonnes of our gold leaving 310.3 tonnes remaining in the national reserve (bear in mind you can’t print gold like money). 12 years on and the value of gold has risen six-and-a half-times equating to a $20 billion loss to the UK treasury.

I got the sack from an engineering firm for accidentally f***ing-up a pre-war lathe worth about £1000 in scrap value at best. I should have been a politician.
[smiley=thumbsup.gif]

[wiltshire builders]

Haha I was watching the Chippenham Half marathon today and as a guy passed us wearing a Gordon Brown mask my mate said "Brown's lost a few pounds" I replied "Yeah 14 billion in gold reserves" ahhh financial comedy at its best. ;D

[Col]

;D ;D yeah brill WB

Take heart Ken in knowing we are all still giving the jock free cash for doing bugger all as a seldom attendee backbencher :---failure is well rewarded in state employment--Prescot, Becket, Blair, R.P.A. bosses, etc,etc >

[redken1]

;D ;D yeah brill WB

Take heart Ken in knowing we are all still giving the jock free cash for doing bugger all as a seldom attendee backbencher :---failure is well rewarded in state employment--Prescot, Becket, Blair, R.P.A. bosses, etc,etc >

Col , I have difficulty getting my head round the fact that Gordon Brown sold our gold at a time of relative national prosperity. I thought, obviously wrongly, that you only sold-off the family heirlooms when the cupboards are bare. :'(

[Col]

The full, true reasons have never been revealed but the proceeds were used to buy other currency like euros. The B.O.E. was against the sale and were 'sidestepped' by Brown who pushed the auction through. One big error was to pre-announce the sale which due to investment manipulation resulted in a fall in gold price but the euro increased in value meaning less were bought.
It was not the smartest move but the U.S.A. has no gold in Fort Knox that it owns---look at the dollar and their credit rating
I honestly believe it wasn't just to finance Loopy Labours social engineering and demographic change in the U.K. but more to do with world currencies and banking---the end result being it didn't make a blind bit of difference in the end ;D

That laughing idiot Heath--responsible for us being embroiled in the E.U. [twat >] sold more gold reserves when he got his paws on it. Don't forget the other Tory no mark Major who lost £billions trying to prop up the £ artificially with his muppet 'Badger' Lamont--ERM fiasco

The whole thing is a complex murky slime filled sewer powered by greed and manipulated by egotistical ,self promoting,wealth obsessed low lifes >

[Swanny]

All part of the engineered collapse of the system so that they can bring the new one in.

NWO here we come

[Chappers]

The move was orchestrated to prevent at least one large UK bank from going under. They were shorting gold massively - along with JPM as the largest shorter, but JPM had the backing of the FRBNY - the UK banks did not have a similar back-stop arrangement with BOE.

The UK gold sale was pre-announced, on a massive scale and done in one go - all three are designed to ensure that the spot price of gold fell immediately and stayed down - the purpose was to drive out the speculators / close out margined long positions and enable the UK leveraged banks to cover their shorts.

Thus the UK banks were 'saved' (to be subsequently bought out by Japanese and German banks if the rumours on their identity are correct), there was no run on the banks (well, for another 9 years anyway) and peace was restored to the galaxy... oh, except the remaining UK banks realised that the BOE will ALWAYS back-stop their trading losses = complete loss of moral hazard = 2007/8 financial crisis = 2008 - 2015 Great(er) Depression.

The US did the same with LTCM earlier in the decade. Brown simply did the 'wash, rinse, repeat' trick here and the great ponzi scheme continues...

[redken1]

All part of the engineered collapse of the system so that they can bring the new one in.

NWO here we come

I believe the capitalist system has already collapsed and the advocates of the unregulated global free market are living in denial. In my personal opinion, they should take off their ‘rose tinted glasses’ before we reach a state of anarchy. If they don’t, I hope I’m not around when it happens.

[cornishbob]

if i can kill EDL then heres to anarchy