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To: xzins
I believe the British BOUGHT gold last year. Not sure why. But it started the big rally in the gold market that has lasted into this year.
73 posted on 07/24/2002 10:37:42 AM PDT by Thane_Banquo
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To: Thane_Banquo
Britain sold gold last year. They have now lost over $750 million versus the price of the gold if they had kept it. Moreover, they took a lot of the money and invested it in US bonds which are payable in US dollars and have since gone south against the pound about 15%.

Real smart financial people in the Exchequer these days!

129 posted on 07/24/2002 12:55:48 PM PDT by rollin
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