Quote:
Originally Posted by OLD BOY
The gold was held as balances. Brown sold it off and spent it on day to day stuff. Had he not done that, the financial crash would not have had such an impact.
|
I'm not sure you've understood the linked articles. He exchanged the gold for other financial assets with higher yields and less risk. If any government had wished to reverse this decision it could simply buy more gold.
The criticism of Gordon Brown was not so much that he sold gold but he sold it at the bottom of the price cycle. But that's a Captain Hindsight criticism.
This has no relevance to the impact of the Global Financial Crisis.