Revealed: why Gordon Brown sold Britain's gold at a knock-down price – Telegraph Blogs

Revealed: why Gordon Brown sold Britain's gold at a knock-down price – Telegraph Blogs


Responsibility is evaded by all bar those on whose shoulders it ought to rest. The gold panic of 1999 was expensively paid for by the British public. The one thing politicians ought to have bought with that money was a lesson in the structural restraints which needed to be placed on banks now that the principle that they were ultimately public liabilities had been established.
It was a lesson which could have acted to restrain all players in the credit market boom of the 2000s. It was a lesson which nobody learnt.