"So, why DID Gordon Brown sell all that gold?"

Short but interesting article:

BBC Blog

Obviously!

...He was told to by his puppet masters.

Seriously though, why would any country liquidate their intrinsic assets for bonds and paper currency if they knew anything about economic viability for a nation? A country isn't a hedge fund! It shouldn't be his duty to bring some %ROI on the hard assets the nation has.

Jobs flourish, when corporations flourish, and corporations flourish when the economy and the currency is stable.

To open the flood gates of uncertainty, and make the UK market as soluble as the US market is becoming, all Gordon Brown would have to do is liquidate their intrinsic assets, and tie that value to the currency or sanctity of other countries that are further along in the: "lets run this ship into the bottom of the sea bed" mentality.

No surprise he went with US, and Japan...

Good Job GB, way to destroy the cornerstone of your nations wealth!

reply to post by Hamking



I think people are still befuddled - regardless of all the analysis and articles in the world - by the mere fact that he managed to time it so "perfectly".
It's almost the stuff that "Yes, Prime Minister" was made of...

Poor man.
Can you imagine his thoughts every time he hears about the price of gold? (And he's been hearing a lot about it today, I am sure, with gold hitting the 1000 $ mark.)

I don't know how anyone (in the public eye) can survive such a miss.

The article did say that he didn't think that gold prices would go soaring again. He probably sold at what he thought would be a top out for gold, or before gold got too hard to sell to others. I hope he didn't make any major mistakes with any other investments.

If I had gold, I would probably sell most of it right now. I know it would go up further, but there comes a point where it won't be really be that affordable to others. It has to top out somewhere. After I sold that gold, I would be looking for some foreclosed homes and apartment buildings to rent out. Do the minimum repairs, rent them out, and hold on to them.

When the economy starts to recover, and hopefully prices start to come down across the board start to really fix the houses up if there are no tenants in them at the time. When the housing market has corrected itself, sell the houses for a profit. I would also upgrade the apartment buildings. Possibly could raise rents after fixing them up. At the minimum it would help increase the value of the building if I ever wanted to sell it, and give the people a more decent place to live.

i wouldn't sell that gold unless you needed to

gold is not affordable for many people right now and it is soaring

gold and silver are going up, unless the fed abruptly changes course and raises interest rates and that includes the central bank of japan.

food and energy prices will continue to rise as hedge funds have little else left to get good returns from, same with central banks tired of holding dollars.

metals are the only store of value (saving's) that hedges against the gov't covertly confiscating saving's (thru inflation and bailout's of wall street)