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Monday, October 12, 2009

Fire sale

The decision of the UK Government to try and raise some quick cash by selling off assets such as the Dartford crossing, the cross-Channel rail link and the Tote over the next two years is an act of desperation. Worse than that it is an irresponsible act that will result in key Government assets being sold for less than their real value.

Vince Cable is absolutely right to describe this policy as fundamentally flawed. He has pointed out that the Government's timing is all wrong. They are proposing to "sell off in very depressed markets, under very depressed markets for land and for shares." In the House of Commons he went further and called it a government car boot sale.

There is nothing wrong with realising assets at the right time but Gordon Brown keeps getting it wrong. He sold off Britain's gold reserve at a cut price, now he is proposing to do the same with other assets as well. Nothing could better highlight Labour's mismanagement of the economy.
...and now the price of Gold is $1,060 per ounce.

Between July 1999 and March 2002 the Gordon Brown sold 395 tonnes of gold, at an average price of $280 per ounce.

I know, because when Gordon Sold I BOUGHT!
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