The City with $248 billion beneath its pavements

 

London has always known what real money is made of. The old man of Threadneedle Street is perched on top of approximately one fifth of all the gold held by the world’s governments. The Bank of England has always known the importance of the metal in securing long term financial stability. Some old heads from that institution down the ages are probably still twisting in their graves after the short sighted stroke Gordon Brown pulled to line his own pockets.