The last time the Tories cleaned it up it took so long that people got impatient, then voted for new labour who promptly took credit for it then bolloxed it up
sold all our assets off
gold? gordon brown?
One of the least well-timed investment decisions of this or any age, Gordon Brown’s sale of 395 tonnes of our gold in 17 auctions between July 1999 and March 2002.
The average price achieved in those disposals was $275.6. Gold has since risen in value by 256% – a rate of return which would bring pride to even the cockiest of hedge-fund superstars.
Or to put it another way, 395 tonnes of gold from our official reserves that was sold for $3.5bn would now be worth $12.5bn
And it gets worse. The gold had to be paid for in $USD (a stable and strong currency at that time) then Brown immediately converted the majority of the Dollars to Japanese Yen (and lost 20% on his investment before he reduced the Japanese Yen foreign currency reserve holding to a sensible level) and bought billions of the new Euros currency at great risk and expense to British taxpayers (this being a part of a devious plot to prop up the Euro in it’s early days and accelerate the demise of the Dollar as the world reserve currency).