» Wednesday, March 5, 2008
Gold
Asked if the Prime Minster lay awake at night wishing that he had not flogged off gold at a knocked down rate and waited until now, the PMS replied that equally you could make the argument that if we had sold off gold in the 1980s when the gold price was very high, then we would have made even more money. The decision made at the time, was a decision to diversify the UK’s foreign exchange holdings and to move away from a situation where we were overly reliant on one particular asset.
Asked what we relied on now, the PMS replied that we had also bought other foreign currency assets including Euro assets at the time.
Asked if we had made any money out of that, the PMS replied that he was reluctant to use the phrase, but we were not going to give a running commentary on these matters.
Briefing took place at 11:00 | Search for related news
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