LIBOR is a fuck-up.
Here's another one for you ... don't know if you know the story of Gordon Brown, ex PM of the UK, who sold 400 tons of UK gold reserves (i.e. about half the UK's gold reserves) between 1999 and 2002 at between $256 to $296 per ounce, a 20-year low. Just to undermine the price he announced the sale in advance and sold the gold by auctions to fuck the price down that little bit more.
This act of economic suicide cost the UK economy £7billion.
No-one really knows why he did it, he won't say, although some journalists are saying that US banks were involved in the process.
Raising some cash to cover his crazy socialist schemes is one thing, but this is self-mutilation on a grand scale.
And the reasons remain a mystery. Wish some clever journalist would dig further into this one.
Here's another one for you ... don't know if you know the story of Gordon Brown, ex PM of the UK, who sold 400 tons of UK gold reserves (i.e. about half the UK's gold reserves) between 1999 and 2002 at between $256 to $296 per ounce, a 20-year low. Just to undermine the price he announced the sale in advance and sold the gold by auctions to fuck the price down that little bit more.
This act of economic suicide cost the UK economy £7billion.
No-one really knows why he did it, he won't say, although some journalists are saying that US banks were involved in the process.
Raising some cash to cover his crazy socialist schemes is one thing, but this is self-mutilation on a grand scale.
And the reasons remain a mystery. Wish some clever journalist would dig further into this one.