567:"In front of 3 witnesses, Bank of England Governor Eddie George spoke to Nicholas J. Morrell (CEO of Lonmin Plc) after the Washington Agreement gold price explosion in Sept/Oct 1999. Mr. George said "We looked into the abyss if the gold price rose further. A further rise would have taken down one or several trading houses, which might have taken down all the rest in their wake. Therefore at any price, at any cost, the central banks had to quell the gold price, manage it. It was very difficult to get the gold price under control but we have now succeeded. The US Fed was very active in getting the gold price down. So was the U.K."
576:"There is also a credible speculation that the sale was designed to benefit a few of the London based bullion banks which were heavily short the precious metals, and were looking for a push down in price and a boost in supply to cover their positions and avoid a default. The unlikely names mentioned were AIG, which was trading heavily in precious metals, and the House of Rothschild. The terms of the bailout was that once their positions were covered, they were to leave the LBMA, the largest physical bullion market in the world.
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person or one party or ideology etc and this will be reflected in the naming and we need not shy away from this. Brown bottom is called that by many people precisely because it was a disastrous policy and this is universally accepted, well by everyone except Gordon Brown - the name isn't supposed to be neutral.
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I came to this page after doing a google search for "Brown Bottom" after seeing the phrase on the
Hargreaves Lansdown investment web site. If the page is renamed ("Sale of UK Gold Reserves"?), a few redirects would be handy as the phrases "Brown Bottom" and "Brown's Bottom" do both seem to be in wide
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The new title is descriptive but I think Brown Bottom is a better title because that is how the period/decision is referred to by commentators and economists. The article on the withdrawal of
Britain from the ERM is titled Black Wednesday an equally tabloid style headline but sometimes events take on
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The article claims that the events are likened to black wednesday, but the reference for that statement (a times article) only states that the blunder was on a similar scale (although with the rising price of gold, the cost of browns bottom now dwarfs the 'loss' incurred by the UK leaving the ERM).
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As I noted above if this article is to be renamed as "Sale of UK gold reserves" in order to remove any allegedly politicised element then the article on Black
Wednesday ought to be renamed "British withdrawal from the ERM" - both changes are silly; in politics some events clearly are bad for one
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See also chapter 72, page 172-174, of Willem
Middelkoop's book 'The Big Reset, War on Gold and the Financial Endgame', Amsterdam University Press, ISBN 978 94 6298 027 3, E-ISBN 978 90 4852 950 6 (PDF), E-ISBN 978 90 4852 951 3 (ePub), where he also spells out
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I have sympathy with that view. I'm
British and follow politics quite closely, and didn't know what "Brown Bottom" meant until I read this article. As you say, the event itself may be notable. The name, I'd suggest, is not - unless it can be shown in
582:"LONDON, April 14, 2004 (Reuters) — NM Rothschild & Sons Ltd., the London-based unit of investment bank Rothschild, will withdraw from trading commodities, including gold, in London as it reviews its operations, it said on Wednesday."
579:"LONDON, June 1, 2004 (Reuters) -- AIG International Ltd., part of American International Group Inc., will no longer be a London Bullion Market Association (LBMA) market maker in gold and silver, the LBMA said on Tuesday."
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Please explain what you mean by "speculative" and "opinionated". The article is reporting events starting in 1999 to 2002, up to early
October 2009. How is that speculative? It also refers to the Tory disaster of
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This article reads like an attack piece from the
Conservative media. It throws out every criticism under the sun with no time at all given to the reasons it was done and the positives of the decision.
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I would like to move the page to something like "Sale of UK gold reserves", which I believe would facilitate a more neutral discussion of the topic. "Brown Bottom" sounds like a tabloid headline.--
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so, while a title of "Brown Bottom" gives some degree of poetic justice (that's "my" gold he gave away there), I don't think it matters too much what the article is called.
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Even in terms of facts it's a bit selective to tell this story. For instance neglecting the unforseen nature of the massive Spike in gold in the decades to come.
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What is "Brown Bottom" . . . Who made this up? This article must be renamed. Sure, it's a semi-notable event but clearly one article in
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head of commodities, approached the
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used by industry insiders and journalists. This isn't encyclopedic. Why is it in bold text ? It doesn't register in
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does not warrant full notability for the phrase "Brown Bottom". This shit makes
Knowledge look weak.
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The blog source for the assertion that this was done to save US institutions has a posted comment :
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on
Knowledge. If you would like to participate, please visit the project page, where you can join
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I'm British and have never heard of the term. From a quick check, it appears to be a
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A price of gold graph would add much to this article. And a photo of Gordon. --
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prices were the lowest for 20 years, has been dubbed as the
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garyj 07/11/2012 12:36 PM ... Here is further grist :
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quote the Gartman Letter as reporting the rumour. -
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453:Here is a link I just found
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