Bank of England refuses comment on huge discrepancy in custodial gold reports

Former British Finance Minister and Prime Minister Gordon Brown infamously sold the country's gold reserves at rock-bottom prices in the late 1990's, now dubbed derisively as "Brown's Bottom."  He essentially robbed England of its treasury, further impoverishing the country.

Now, we find out the Bank of England has again sold off the family jewels, allegedly to help engineer the massive bear raid in paper gold--only to have it backfire on them as demand for physical gold soared, to the point where there are still severe shortages almost four months later.

Apparently, the powers-that-be in London, New York, and Washington, DC underestimated the purchasing power of billions of peasants and farmers in Asia when precious metals are discounted.

England and America have been pillaged--by our own central bankers.

http://www.gata.org/node/12859

Maguire - LBMA Now Staring At Another Gordon Brown Abyss

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/7/19_Maguire_-_LBMA_Now_Staring_At_Another_Gordon_Brown_Abyss.html

Former Fed Chairman Greenspan quote on gold

“Gold still represents the ultimate form of payment in the world . . . Germany in 1944 could buy materials during the war only with gold. Fiat money paper in extremis is accepted by nobody. Gold is always accepted.” - then-Fed Chairman Alan Greenspan, May 20, 1999.

He was responding to then-UK Finance Minister Gordon Brown's decision to sell the Bank of England's gold reserves when gold was priced near its lows, now referred to as "Brown's bottom."

European Banks Are ‘Grossly Under-Capitalized,’ Brown Says

This is another example of a former government leader speaking the truth--but only after he is no longer in office. 

http://www.bloomberg.com/news/2011-09-16/european-banks-grossly-under-capitalized-amid-debt-crisis-brown-says.html?cmpid=bit

Gordon ("Bottom") Brown resigns

Given his blunder in "Brown's Bottom" when he sold England's gold at the most inopportune times between 1999 and 2002, it's no surprise that Gordon Brown submitted his early resignation to the Queen of England today. The former Chancellor and now ex-British Prime Minister doesn't exactly have a stellar track record.

http://www.telegraph.co.uk/finance/personalfinance/investing/gold/7511589/Explain-why-you-sold-Britains-gold-Gordon-Brown-told.html

Between 1999 and 2002, Mr Brown ordered the sale of almost 400 tons of the gold reserves when the price was at a 20-year low. Since then, the price has more than quadrupled, meaning the decision cost taxpayers an estimated £7 billion, according to Mike Warburton of the accountants Grant Thornton.

Perhaps I should give him more credit. At least he's smart enough to exit before the ship sinks.

Another gem by Greenspan

Alan Greenspan did a complete 180 degree turn from his free market youthful days to a Keynesian, market-manipulating Federal Reserve Chairman. I presume that's how one climbs pay-grade levels within the Fed.

In this expose on how Gordon Brown sold the UK's gold reserves at the absolute bottom, plundering the country's wealth in the process, we learn several things:

1) Germany's gold reserves aren't in Germany at all. They are stored in New York.
2) Gordon Brown is a terrible market timer.
3) Greenspan's warning to Brown to not sell his country's gold needs no explanation: "Germany in 1944 could buy materials during the war ONLY with gold. Fiat money paper, in extremis, is accepted by NOBODY. Gold is always accepted." - Alan Greenspan, 1999

He should have added Germany lost World War II.