Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Commodities - The Coming Bull Market -- Ignore unavailable to you. Want to Upgrade?

To: craig crawford who wrote (11)	5/31/2001 2:16:33 AM
From: craig crawford	Read Replies (1) \| Respond to of 1643

Tory warns of disaster over Labour sale of Britain's gold A senior Conservative is calling on the Government to immediately cease its 'scandalous' sell-off of Britain's gold reserves. Sir Teddy Taylor, who is defending his Southend East and Rochford seat, warns that the nation faces "economic disaster" if this policy continues. He says the Treasury and the Bank of England have regularly refused to tell him how much has already been sold, and how much is designated for sale. "But it is not a small fortune - it is a large fortune, and it is all part of a devious plot to prop up the euro," Sir Teddy claims. He says 300 tons of gold have already been sold off under "this crazy policy", and more is earmarked for sale. "The Bank of England have been ordered to buy euros with 40% of the money they get from selling gold. But Britain's prosperity has always been based on our gold reserves. If we are to have the ailing euro instead, then we will face economic disaster." Sir Teddy adds: "I appeal to the Government, even in the heat of an election campaign, to abandon this policy as a matter of the utmost urgency. This is one of the biggest scandals I have ever heard about, especially as gold prices are now going through the roof." Yesterday, gold reached its highest price in nearly a year. At $291.25 an ounce, this was the highest since last June and $18.25 higher than Friday afternoon's price. Last updated: 09:09 Tuesday 22nd May 2001