So, George Osborne reckons it's time to sell off the RBS shares. He's been advised by Rothschild and the Bank of England that the time is now. I wonder who will take care of the sale for the government? It wouldn't be Rothschild, would it? I wonder who will actually make money out of this sale? The government, and therefore, we the people, aren't going to make any money. The shares are going to be sold at a loss, despite the fact that we've held these shares for seven years. RBS keep getting pinged for illegal business practices, and other assorted penalties. It's almost like they weren't being regulated those few years ago...
I have some shares personally in RBS, and they cost me about £100. They are still worth about £100. I'm not going to sell them until they're worth about £200. I don't know how long it's going to take, but I can hold onto them until then. I think the govt. should take the same approach. Ironically, on the news that Osborne was going to sell the shares, the price went up by 8p. That's not going to change my fortunes but it's a move in the right direction. Another 42p, and it would be worth selling. As it is, the govt. has an asset and they can sell it only once. Selling those shares now, at this price, is a mistake. Combine that with the sale of the shares in the Post Offoce, and it looks like there will be no assets left for any future govt. The good thing about valuable assets which keep appreciating in value, is that they create wealth and mean that the general population don't have to contribute so much in tax. Anyone would think, looking at the current general sell-off, that the Tory Govt. would like to keep the general population under the yoke. That can't possibly be the case, can it?
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