Our current PM was widely applauded as a "Prudent Chanceller". I'd love to
ask him - now the financial markets are tumbling around him - exactly how
prudent it was to sell Britain's Gold Reserves when the market was at a rock
bottom 20 year low and was pushed even lower by the sale ?

The value of gold has tripled since and in the current climate looks set to
rise higher. The only satisfaction is the irony that in his capitalistic
dream of selling gold to fund 'better investments' he shot himself in the
foot, another own goal for New Labour ideology.

It's not a question now of if Brown's going but when. I do wonder how our
"Best Chancellor for Decades" feels as he stares into the half barren
cellar. So much for prudence and providence.

"The Happy Hippy"  wrote in message 
news:%iFAk.59963$E41.18824@text.news.virginmedia.com...
> Our current PM was widely applauded as a "Prudent Chanceller". I'd love to
> ask him - now the financial markets are tumbling around him - exactly how
> prudent it was to sell Britain's Gold Reserves when the market was at a 
> rock
> bottom 20 year low and was pushed even lower by the sale ?

Oh come now, anyone could have made that mistake, even when the combined 
advisory power of the Bank of England and HM Treasury is available.

> The value of gold has tripled since and in the current climate looks set 
> to
> rise higher. The only satisfaction is the irony that in his capitalistic
> dream of selling gold to fund 'better investments' he shot himself in the
> foot, another own goal for New Labour ideology.

Still, he also taxed pension funds, with the result my private pension (of 
the type he practically insisted everyone ought to have) is now virtually 
worthless - making just a %'age point or so per year instead of 10->15%.

> It's not a question now of if Brown's going but when. I do wonder how our
> "Best Chancellor for Decades" feels as he stares into the half barren
> cellar. So much for prudence and providence.

Maybe he'll get his old job back?  After all, his party colleages are 
probably fed up with having to say "Hello Darling" each time the phone the 
current Chancellor.