Dear Alisdair, admittedly some time back, I saw a study which showed that Central Banks always bought Gold near the top of the market and sold Gold near the botom. Any thoughts?
I don't believe that Gordon Brown got top dollar for Britain's gold. And Canada sold off most/all of its gold probably not at the peak for a good share of it. It's hard to say what the situation is for U.S. gold holdings. With the present state of debt and fiat money, I don't know how to properly study the issue from a government perspective. Regardless, it behooves us as individuals to be prepared for a number of developments, IMO.
Brown was a spectacular idiot. Sold at the bottom......wikipedia: The official stated reason for this sale was to diversify the assets of the UK's reserves away from gold, which was deemed to be too volatile! The sale of UK gold reserves was a policy pursued by HM Treasury over the period between 1999 and 2002, when gold prices were at their lowest in 20 years, following an extended bear market. The period itself has been dubbed by some commentators as the Brown Bottom or Brown's Bottom.[1][2][3][4][5][6]
The period takes its name from Gordon Brown, the Chancellor of the Exchequer, who decided to sell approximately half of the UK's gold reserves in a series of auctions. This amounted to 395 tonnes of gold sold for a total of $3.5 billion.[7] The gold price increased at an average of 8% annually in the 25 years from 1999-2024.[8]
Go On Line & put in " Revealed : Why Gordon Brown Sold Britain's Gold at a Knock Down Price " - By Thomas Pascoe . This was penned back in 2012 and provides the real reason why Brown effectively robbed the british tax payers - to prop up ' Goldman Sachs ' and the entire banking system who
were then on the point of collapse - due to the manipulation of Gold .
ALSO : Take a look at " Brown's Bottom " a short 8-9 x minute documentary that MAX KEISER did back in the day . On ' You Tube '
" Spectacular Idiot " hardly covers it - who other than a complete moron or somebody who is under the kosh / control of and completely beholden to the ' Money Powers ' does this sort of thing by first announcing to the World and his Granny that he's about to dump half of the UK's Gold Holdings . Personally , I think that Gordon Brown can be bracketed as a complete Moron and as a Quasi- Agent for the ' Monet Powers ' at one and the same time .
" Revealed : Why Gordon Brown Sold Britain's Gold at a Knock Down Price " , which if you haven't ever seen it takes you to a report by Thomas Pascoe which he wrote for ' The Telegraph ' back in 2012 ...Pretty much say's it all .
GAVYN DAVIES was a Partner / Director at ' Goldman Sachs ' and head of Commodity's for them back at this time whilst his wife ' SUE NYE ' was the head of Gordon Brown's Private Office and known as " Gordon's Gatekeeper " - also at the very same time .
ALSO : " Brown's Bottom " a short 8 - 9 x minute documentary which
Max Keiser put out back in the day . On ' You Tube ' I think .
Over the years I've seen numerous reports from a number of respected analysts who were all saying that what ever old nonsense was spewed forth from the usual suspects per official policy reasons - that the real underlying reason was
to prevent the failure of ' Goldman Sachs ' who were seriously underwater at that time & that the Bullion Sale was to stop them from going under .
Also one of the Partners / Directors & also the Chief Economist at ' Goldman ' at that very time ( Full name escapes me - Gavin .something ..) was the husband of the lady ( full name also escapes me - Sue something I think ) was also Gordon Brown's P.A. ( Gatekeeper ) at that time .
Dear Alisdair, admittedly some time back, I saw a study which showed that Central Banks always bought Gold near the top of the market and sold Gold near the botom. Any thoughts?
I'm not aware of this. Seems wrong to me.
I don't believe that Gordon Brown got top dollar for Britain's gold. And Canada sold off most/all of its gold probably not at the peak for a good share of it. It's hard to say what the situation is for U.S. gold holdings. With the present state of debt and fiat money, I don't know how to properly study the issue from a government perspective. Regardless, it behooves us as individuals to be prepared for a number of developments, IMO.
I can't speak for Canada, but the UK's gold is held by the UK Treasury, not the BoE. Brown took the decision as Chancellor.
Brown was a spectacular idiot. Sold at the bottom......wikipedia: The official stated reason for this sale was to diversify the assets of the UK's reserves away from gold, which was deemed to be too volatile! The sale of UK gold reserves was a policy pursued by HM Treasury over the period between 1999 and 2002, when gold prices were at their lowest in 20 years, following an extended bear market. The period itself has been dubbed by some commentators as the Brown Bottom or Brown's Bottom.[1][2][3][4][5][6]
The period takes its name from Gordon Brown, the Chancellor of the Exchequer, who decided to sell approximately half of the UK's gold reserves in a series of auctions. This amounted to 395 tonnes of gold sold for a total of $3.5 billion.[7] The gold price increased at an average of 8% annually in the 25 years from 1999-2024.[8]
FOLLOW UP NOTE .
Go On Line & put in " Revealed : Why Gordon Brown Sold Britain's Gold at a Knock Down Price " - By Thomas Pascoe . This was penned back in 2012 and provides the real reason why Brown effectively robbed the british tax payers - to prop up ' Goldman Sachs ' and the entire banking system who
were then on the point of collapse - due to the manipulation of Gold .
ALSO : Take a look at " Brown's Bottom " a short 8-9 x minute documentary that MAX KEISER did back in the day . On ' You Tube '
" Spectacular Idiot " hardly covers it - who other than a complete moron or somebody who is under the kosh / control of and completely beholden to the ' Money Powers ' does this sort of thing by first announcing to the World and his Granny that he's about to dump half of the UK's Gold Holdings . Personally , I think that Gordon Brown can be bracketed as a complete Moron and as a Quasi- Agent for the ' Monet Powers ' at one and the same time .
FOLLOW UP NOTE .
Go On-Line and put in :-
" Revealed : Why Gordon Brown Sold Britain's Gold at a Knock Down Price " , which if you haven't ever seen it takes you to a report by Thomas Pascoe which he wrote for ' The Telegraph ' back in 2012 ...Pretty much say's it all .
GAVYN DAVIES was a Partner / Director at ' Goldman Sachs ' and head of Commodity's for them back at this time whilst his wife ' SUE NYE ' was the head of Gordon Brown's Private Office and known as " Gordon's Gatekeeper " - also at the very same time .
ALSO : " Brown's Bottom " a short 8 - 9 x minute documentary which
Max Keiser put out back in the day . On ' You Tube ' I think .
Over the years I've seen numerous reports from a number of respected analysts who were all saying that what ever old nonsense was spewed forth from the usual suspects per official policy reasons - that the real underlying reason was
to prevent the failure of ' Goldman Sachs ' who were seriously underwater at that time & that the Bullion Sale was to stop them from going under .
Also one of the Partners / Directors & also the Chief Economist at ' Goldman ' at that very time ( Full name escapes me - Gavin .something ..) was the husband of the lady ( full name also escapes me - Sue something I think ) was also Gordon Brown's P.A. ( Gatekeeper ) at that time .
Another excellent interview with ' Dunagun ' ...many thanks .
Thank you Alasdair.
Thank you, Alasdair. People, prepare if you haven't already.