Bring back The Gold Standard - UK
This petition had 48 supporters
UK Gold Reserve 1999 - 2002 - Gordon Brown was responsible for the selling off majority of the Gold reserve
Gordon Brown Sold Britain’s Gold at Artificially Low Prices to Bail Out a Large American Bank - Why? This is why! to BAIL out some other countries BANK!
Which the cost estimated more than £2 billion for the taxpayers (or more)
Why go back on The Gold Standard?
The benefit of a gold standard is that a fixed asset backs the money's value. It provides a self-regulating and has the stabilising effect on the economy. ... That discourages inflation, which is too much money chasing too few goods. It also discourages government budget deficits and debt, which can't exceed the supply of gold. I would also like to add that it creates the certainty in international trade by providing a fixed pattern of exchange rates. (Meaning more stability of the Economy)
UK CURRENT Debt and Deficit:- The British government debt is rising due to a gap between revenue and expenditure. Total government revenue in the fiscal year 2015/16 was projected to be £673 billion, whereas total expenditure was estimated at £742 billion. Therefore, the total deficit was £69 billion. (More recent figure and charts here:-https://www.ukpublicspending.co.uk/uk_national_debt_chart.html )
If you look at the charts. The links I have just given you, you will see, debt has increase a lot since the abolition of the gold standard and again in the year 2000 when Gordon decided to sell off the Gold even at a LOW price. Which received plenty of criticism over the years.
We could prevent debt by going back to the gold standard. Increase the national gold reserve even more, increase the value and overall GDP of the UK's national economy.
So sign this petition to improve the economic growth of our beautiful nation, maybe lessen the impact of brexit due to uncertainty.
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