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:
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.
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.
Labels: facetiousness, Where your money goes, WLOSAF
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on Wednesday, August 06, 2008 at 12:39 pm.
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And doubtless there's no Sanity Clause either....
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