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20/12/2005 posted by Kevin S
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Gorden Brown did! In 1999 the chancellor of the exchequor sold 60% of
British gold reserves held by the Bank of England at the 20 year low of $275.
In recent months ( Dec2005 ) we have seen a rally on the price of world
gold prices. Currently they are positioned at around the $510 an ounce value.
So nice move Gorden, but wait it gets even better... he then went off to
invest about a third of the proceeds from the sale in Euros, which then spectacularly
tanked It has been estimated that this skillful transaction has probably
cost the Great British taxpayer approximately 2 billion pounds .
Oh well isn't hindsight wonderful.
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