“The past is a foreign country; they do things differently there,” said L.P. Hartley. This week 25 years ago, the Treasury announced that it would sell up to 60% of our gold reserves. It proved a spectacular example of selling low. At the “Brown bottom” (see page 24), as it came to be known, the price of the yellow metal was
From the editor...
May 03, 2024
2 minutes
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