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Columbia Threadneedle’s analysis suggests that the pace of bond sales is 70% faster than that of the U.S. Federal Reserve and around twice the rate of the European Central Bank.

This gold sale, which took place under the leadership of then Chancellor of the Exchequer, Gordon Brown, was roundly criticized for being poorly timed. It resulted in a significant loss of revenue for the U.K. — an event now colloquially known in financial circles as “Brown's Bottom.” Mahon draws a
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