LONDON, 10 February 2012 - The UK's Daily Telegraph today looks at how the investment landscape has changed since Her Majesty Elizabeth II ascended the throne in February 1952, quoting a comparison by BullionVault of "financial repression" both after World War II and again today.
"Then, as now, it was a time of public austerity, as Britain struggled to pay down its massive debts," says Adrian Ash, head of research at BullionVault, which received a Queen's Award for Enterprise Innovation in 2009.
The cost of cutting those debts was imposed on ordinary savers, explains Adrian, by keeping interest rates below the rate of inflation. Unlike today, however, "British subjects in 1952 couldn't easily escape this trap by switching a chunk of their savings out of cash and into gold," he says, quoted by the Telegraph Media Group's head of personal finance, Ian Cowie.
Read the full story at The Telegraph here...
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