PMQs and Brass Neck

Oooh goodness, the puppet show that is PMQs, managed by ill-chance to catch that today. The Labour twats and the Coalition numpties were punch and judying all over the place, on about underselling the Royal Mail. Seems they could have got an extra 2 billion parnds if they’d priced it right. Hmm. Not good.

However, for the two criminals otherwise known as Balls and Miliband to criticise ANYONE over fiscal prudence is beyond belief or parody. Their country crashing antics are well documented.

The following of many such examples springs to mind first.

Gordon Brown – who employed Ed Miliband and Ed Balls as advisers during his years as chancellor – is often accused by opponents of selling off Britain’s gold reserves far too cheaply.

He decided to dispose of almost 400 tonnes of gold between 1999 and 2002 – the majority of Britain’s reserves – for between $256 and $296 an ounce, only to watch it soar up to $1,615 per ounce.

 

Crikey.

Let’s do some sums.

There are 32,150.722 Troy ounces in a metric tonne.

Mr Brown (Labour) guided and advised by Mr Balls (Labour) and Mr Miliband (Labour), sold off 400 tonnes (that’s 12,860,288.8 ounces) at a median price of $276 per troy ounce.

If they’d sold when gold had peaked at $1615 per troy ounce they WOULD  have made an extra;

(12860288.8X (1615-276)) USD

Answer, 17,219,926,703 USD.

That’s 17.22 BILLION.

In good old parnds, at today’s exchange rate, that’s £10.35 Billion. LOST!!!!!

10 pound note

 

 

 

Such ineptness from our political classes does have it’s advantages though. In this case, please see the ten pound note above. I bought that from Ed Balls for £1.50.

Back of the net.

About allatsea

Sixty year old master-mariner. Absolutely gorgeous. Well wedged.....when compared to a Nairobi street urchin. Sorted, in that I haven't been in court recently. Hopelessly optimistic, terminally disappointed. Good with cats and other fluffy things. No musical talent. Generous to a fault provided it's someone else's round. Political centreist with far right and left viewpoints. A green activist from the hydrocarbon position with nuclear leanings. Averse to avarice but always happy to receive lottery wins, gifts, windfalls, legacies, prizes and wet sloppy kisses.
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