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Delighted. :icon_bigg Gold over $1500 per ounce. :038:
 
Delighted. :icon_bigg Gold over $1500 per ounce. :038:

I noticed that, shocking to think that Gordon Brown sold 400 tons at $275 an ounce.
Could have generated 6 times the revenue that it did.
dozy scottish tosser
 
2000 lbs in a ton
16 ounzes in a pound
so, 32000 ounces per ton
400 tons = 12,800,000 ounces
sold at $275, now $1500, difference per ounce = $1225
total revenue lost = $15.68bn
Nice work chaps....
 
2000 lbs in a ton
16 ounzes in a pound
so, 32000 ounces per ton
400 tons = 12,800,000 ounces
sold at $275, now $1500, difference per ounce = $1225
total revenue lost = $15.68bn
Nice work chaps....

I agree that it was a stupid thing to do, even with the benefit of hindsight, but it should be borne in mind that the currency that the gold was sold for would have earned interest ( or even more importantly reduced the interest we as a country pay on our debts ) since 1997. Gold can appreciate in value, but it doesn't generate any income whilst you hold it.
 
I agree that it was a stupid thing to do, even with the benefit of hindsight, but it should be borne in mind that the currency that the gold was sold for would have earned interest ( or even more importantly reduced the interest we as a country pay on our debts ) since 1997. Gold can appreciate in value, but it doesn't generate any income whilst you hold it.

But only if that currency had been invested, not if it'd just been swallowed by the exchequer
 
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