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hugh

In message ,
lid writes

"hugh" ] wrote in message
...
In message , Andy
Burns writes
Doctor Drivel wrote:

This was the year of the Northern Rock bail out.
The Credit Crunch had hit and banks bailed out - as in all western
countries.

And where do the pensions tax credit grab, 3G licence auction and oil
windfall tax fit in?

Apart from the "prudence period" during their first term, the deficit
was a runaway train.

And don't forget the sell off of eh gold reserves at the lowest price
for ages.

My God. Gold is near meaningless as money is "made up". They do not
have one pound of gold for each one pound note any longer.
Shiiiiiiiiiiiiiiish.

Gold has value which varies, nothing to do with the gold standard which
I think we abandoned in 1928. Selling an asset at its lowest value is
either very stupid or very desperate, or in Brown's case - both.
--
hugh