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  I have to be honest here and admit at once that I know nothing at all about the nations gold reserves. But let me make a case for the government as to why they might have needed to cash in our golden assets.
  
  Its quite clear to one and all that the gold may not have made as much in revenue terms when the gold was sold by HMG. But thats not too revolutionary a shock. Gold prices go up and down. The fluctuation of the humble assets is something we are all very familiar with now.
  
  If we had all cashed in our savings a year and a half a go, we now would be literally laughing all the way to the bank, as they were worth something. Certainly worth considerably more than the are today. All our savings have crunched onto the floor of despair, our house prices have gone the same way.We are left with nothing. The rainy day money has taken a bath. But did anyone see it coming. Did any of our financial advisers tell us to get out now. No, nobody knows, nobody saw it coming, when the crash comes it comes out of the blue and strikes between the eyes.
  
  The Labour Government, a big spender on services, probably needed the gold to fulfill there aims and dreams. Tony Blair spent the money on the NHS like never before at the time, and on all our services. presumably the gold reserves were used as cash injection. You sell it at the best price available at the time. If you want credit now then you want it now, not in another 8 years when you think you might get a better return. It doesn't work out that way. Nice theory.
  
  As I say Im just speculating here as Ive no real idea what the gold was used for but I think the labour philosophy of spending on public services is the best of the options available.

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