The British government, under Treasury Secretary Gordon Brown, sold roughly half of the UK's gold reserves at the bottom of a 20-year bear market in gold (early 2000s), signaling and exacerbating the market's weakness through poorly timed government liquidation.
factualpending
Speaker
Hugh HenryEvidence Quote
“Gordon Brown was the premier was the was he the actually I don't know if he was the prime minister then he was the the treasury secretary of the of the UK government an astute a Scotsman well regarded sober analysis and he concluded that it was a barbarous relic and after whatever two 300 years of accumulating gold uh the British government and its infinite lack of wisdom at the bottom of a what 20 odd year uh bare market in gold. They they sold half of their reserves”
Source
Once In A Lifetime Opportunities in Precious Metals, Japan, And AI w/Hugh Hendry— Rebel Capitalist InterviewsCreated: 8/13/2026, 9:56:54 AM
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