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Another great investment by our lords and masters

(Warning - this post contains facetiousness)

From the wonderful people who had a fire sale of gold reserves, this:

"[Sports minister Gerry] Sutcliffe, in Macao to visit the Team GB preparation camp, said competitors needed to come home with 41 medals and show the British public that the country's £500 million investment into elite sport was "value for money".

A little digging discloses that an Olympic Gold medal weighs around 250 grammes.

And how much gold is in one?:



Yup, 3%. So 250 grammes x 41 is 10.25 kg. Three per cent of that is 307.5 grammes. And at the time of writing, the current London gold price per gramme is £14.51. So, the gold is worth £4,461.82, and at £500 m, that is well over a 100,000 fold mark up. Or 112061.77 to be precise.

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Blogger Nick Drew said... 2:53 pm

This comment has been removed by the author.  



Blogger Croydonian said... 3:14 pm

And doubtless there's no Sanity Clause either....  



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