The Golden Bailout

We looked into the abyss. If the Gold price rose further, a further rise would have taken down one of several trading houses, which might have taken down all the rest in their wake. Therefore at any price, at any cost, the central banks had to quell the gold price, manage it. It was very difficult to get the Gold price under control, but we have now succeeded. The U.S Fed was very active in getting the Gold price down. So was the U.K.

Eddie George, former Bank of England Governor

Source 1

Between July 1999 and March 2002 Gordon Brown's Government sold 395 Tonnes of UK Gold reserves, roughly 58% of the total reserves of 715 Tonnes.

Due to Gold carry trade practices, a globally significant US bank was in serious danger of collapsing. Goldman Sachs approached the UK treasury to explain the situation through the head of commodities at the time, Gavyn Davies, later Chairman of the BBC and married to Sue Nye, who happened to run Brown's private office.



Faced with a complete global banking collapse, Brown decided he would bailout the banks with Britain's Gold.

Gordon Brown broke convention by publicly announcing the sell off, which forced down the spot price. Also unusually the treasury sold the Gold via auctions, when it was usual for a fixed price to be brokered between representatives of big banks. It almost seemed as if the treasury was trying to achieve the lowest price possible for the public's Gold.

Then - $256 - $296 per Ounce, Now - $1208 per Ounce

Brown actually sold Gold that the Bank of England already had out on loan, this allowed the loanees to sell the borrowed Gold and buy it back at a lower price on the back of Brown's announcement, which saw Gold prices plummet. The loanees could then return the Gold back to the Bank of England, after pocketing a profit.

I suppose the question is, did the decision stop a complete global banking collapse? Or did it just delay the inevitable and cost the UK a small fortune?

Source 2
Source 3

Fascinating how the world can spin in a different direction so easily...just a couple of people having a coversation. A couple moee get fulthy rich and the sheeple pick up the tab...quite a racket.

a reply to: DAZ21

This is another story that makes me think Britain is worth a hell of a lot more than the government let's on.

Not to derail this thread but this is the same 'snip' that the J.P. Morgan™/ Morgan-Stanley™ pulled with the farcebook™ IPO after the latter lost $9B USD and under-reported the losses by $5 B USD by stating that their portfolios lost "only" $4 B USD? The losses were mostly dealing with "The London Whale" and the Lady that was in charge of the U.S. offices made $132 M USD all whilst losing $9 B USD.. I was going to type that "She earned a salary of...." but surely She didn't "earn" anything. This was under the J.P. Morgan™ umbrella. They then marched next door to Morgan-Stanley™ and then screwed a majority of investors into the farcebook™ scheme/scam. The biggest IPO thus far and the computer goes down? really? I can see it now "Hey Bob, You tripped over the extension cord to our dial-up connection..." all the while that ancient whirl, click, gheeee noise of getting on the intraweb noise.. Then Agent Zukerberg, uh...er... I mean Mr. Zuckerberg surprises everybody who knows Him and gets married the very next day in Ca. Of ALL the States to get married, Ca. is the very worst of ALL 51 States (I'm adding Israel because that is a State whether You want to admit it or not) because in Ca. if the marriage ends in D-I-V-O-R-C-E then the Mrs. in this case gets half the pot, in this case $50 B USD...

Please don't pay attention to the Zionist pulling the twine behind the curtain which gets thinner and thinner by the hour...

Again and again it is proven that money is bullshirt! Anyone who works for money is a shmuck. Work to live: plant a garden, process your own food, make music, defend your community, build a fire to keep warm, sew clothes, tell stories, make love... you know, live! 3 billion people can't be wrong.*

*Not the top 1 billion who are so preoccupied by getting more money that life is stressful, and and not the bottom 3 billion who dont have enough to live, but there is a happy medium.

originally posted by: Cinrad
Again and again it is proven that money is bullshirt! Anyone who works for money is a shmuck. Work to live: plant a garden, process your own food, make music, defend your community, build a fire to keep warm, sew clothes, tell stories, make love... you know, live! 3 billion people can't be wrong.*

*Not the top 1 billion who are so preoccupied by getting more money that life is stressful, and and not the bottom 3 billion who dont have enough to live, but there is a happy medium.

Way to write-off half of humanity.

a reply to: EA006

My apologies to them. They are both in a prison, one of circumstance, the other of their minds. In fact the elite want to turn us all in to the bottom 3 billion, imprisoned by circumstance, they will use the top 0.99 billion to achieve this. the top 0.99 billion think they are ahead and prosperous but they dont realize they are striving after a mirage of happiness and are prisoners too. The top top 0.01 billion, they are servants of the one entity who hates humanity, the one who wants to take humanity from being ordained caretakers and masters of the universe to slaves.

a reply to: DAZ21

Amazing how in the open banker criminals can be with their puppets and the dumbed down drugged masses do nothing.

Nice very nice.

a reply to: Cinrad

This entity have a name?