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British Central Bank Concerned About PR

April 13, 2011

Mostly Economics sometimes unintentionally provides funny news… which are less funny if viewed from less statist perspective. So now I learned that the Bank of England, the central bank of the UK, is planning some PR actions during this Easter. The announcement informs us that visitors to these events will have an opportunity to try to lift a gold bar:

“You can also take control of a virtual hot air balloon and chart it on a stable course to simulate the role of the Bank in keeping inflation steady. Visitors can even try to lift a genuine gold bar with a current value of over £340,000 – although, weighing 13 kg, it will take many people by surprise!”

It would surprise them even more if BoE tells them how much the 13 kg gold bar costed 5 years ago, or 50 years ago. That would put “keeping inflation steady” in a much different light! The price of 13 kg of gold was about 146,302 pounds in 2006, and about 5,260 pounds in 1961.


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