The post you are reporting:
Not sure, Barry. Gordon Brown in 1999-2002 couldn't have known that gold would increase in value, and he was not advised by the economists to keep the gold reserves intact.
The economists should have actually advised him to increase Britain's gold reserves.
Brown sold off over half the UK's gold, which then stood at 700 tonnes, and so 300 tonnes remained.
Good advice would have told him not only to leave the gold put, but to purchase a few thousand tonnes more.
At the time I was not advising the British government.
However, any British bank of share company with a minimum of economic foreknowledge and some spare cash would have purchased the gold - or some of it - which Brown sold, which was by auction.
If the UK banks had invested some of their money in gold in that period, 1999-2002, or even up to 2006, they would have avoided bankruptcy in 2008.
The truth is, the economists did not foresee the trend gold, oil and other metals would take, nor did they foresee the coming banking crash of 2008.
I foresaw the whole lot coming years beforehand.
