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    UK Freegold

    Posted by Ivo Cerckel on March 3rd, 2012

    Government should not peg tax policy to short-term moves in commodity markets,
    says The Times this morning in a leader or editorial. (1)

    Yes,
    the United Kingdom of Northern Ireland and Great Britain needs Freegold..

    Oil producers do exchange their petro-dollars,
    which like the dollar itself have no value,
    for gold.
    Oil backing of currencies of oil-producing countries thus means gold backing.
    http://bphouse.com/honest_money/a-single-currency-for-the-gcc/

    The euro is the first currency that has not only severed its link to gold, but also its link to the nation-state., said European Central Bankster Duisenberg.in 2002 (2)

    If the euro severed the link to gold, it thus also severed the link to oil.

    But a chancellor named Gordon Brown sold half the pound’s gold reserves.

    Yes,
    it is about time to reverse Gordon Brown’s policies
    and
    sever the link of sterling to (gold and thus to) oil.

    Ivo Cerckel
    ivocerckel@siquijor.ws

    NOTE

    (1)
    Petrol Pricing Pressure
    March 3 2012 12:01AM
    http://www.thetimes.co.uk/tto/opinion/leaders/article3338859.ece

    (2)
    International Charlemagne Prize of Aachen for 2002
    Acceptance speech by Dr. Willem F. Duisenberg, President of the European Central Bank, Aachen, 9 May 2002
    http://www.ecb.int/press/key/date/2002/html/sp020509.en.html

    One Response to “UK Freegold”

    1. Gary Says:

      Hello.

      The UK has been marking its gold to market for a long while now, but I noticed in its accounts that all of its gold holdings are now held by the government, rather than the Bank of England (a similar position to the US in that regard). I don’t think they are looking forward to freegold much.

      Oddly the UK’s gold reserves (and other reserves) are quoted in US dollars, which doesn’t help matters.

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