So we keep hearing sob stories from the government about how much we are borrowing, how much it is costing us, why we can’t afford wage rises blah blah blah and I started to think ‘how much is Britain really worth?’. We must have truckloads of money in the Bank of England vaults. So I started to do a little bit of investigating. I wasn’t thinking so much about the banknotes in circulation but more about how much gold backs it up. It’s supposed that the amount of dosh that’s actually in circulation should not be worth more than the gold you have to back it up, that’s the theory.
Lets look for the gold
So there must be a few thousand 999.9 fine 24 carat shiny bars deep below Threadneedle street. Well I hope so because our entire countries economy is founded on us having tons of gold.
this piece is work in progress, apologies.
I found out that there are an astonishing, incredible, bonkers amount of 5,166 tonnes which are sat 100 feet below the bank in a concrete and steel bunker. At current market prices this load of gold is worth £435,656,000,000. For those of you who think that I have made the value up or miscalculated then I might as well have done, the figure you end up with on the calculator is just mind boggling. As it happens I worked it out very carefully and triple checked my results.
I’m Stan the author of this blog. I am new to blogging and I am trying to improve, please leave constructive comments and I will listen to them.