Britain’s gold sell-off in 1999 has cost the U.K. £21 billion...

Britain’s gold sell-off in 1999 has cost the U.K. £21 billion

Notably, the then-Chancellor of the Exchequer, Gordon Brown, decided to sell 395 tonnes of gold, raising $3.5 billion. The sale drove gold prices to a historic low of $252.80 an ounce, which has since been referred to as the “Brown Bottom.”

Britain’s gold sell-off in 1999 has cost the U.K. £21 billion

...actually 395 tonnes equate to 13.932 million oz of Gold

..at current spot price of US$3040, that is equivalent to US$42.355 B, a loss of almost US$40B !!!

..UK sold its crown jewels, no thanks to Gordon Brown.

This a lesson from HISTORY.