Friday 22 August 2003

Wool standard

I have hitherto been a supporter of the gold standard. Today I note that the price of gold has fallen somewhat:
GOLD prices eased yesterday as the market kept half an eye on the flailing euro, which fell more than 1 per cent against the dollar, but the price was still underpinned by Middle East tension.
So gold has lost a little of its value. What can replace it? I have found the answer:
PUT the carving knife back in the block, screw the top back on the mint sauce bottle, Tophill Joe is one little lamb whose long-term future looks secure.

The Scottish farming syndicate which purchased the six-month old Texel ram lamb at auction in Lanark yesterday did not pay a world record-breaking £128,100 just to turn the youngster into lamb chops. TJ can look forward to a tupper's life from now on.

So, rather than investing in Krugerrands, these Scottish farmers have seen the future and the future is woollen:
The five farmers who clubbed together to buy the animal for breeding purposes clearly decided that they might as well be hung for a lamb as a sheep.

Colin Mair, Willie Knox, Sandy Lee, and Margaret Lyon, all from Aberdeenshire, and Robert Forsyth from Wigtonshire, officially paid out 122,000 guineas (traditionally, pedigree sheep are sold in the antiquated currency). Mr Forsyth said: "We decided on Wednesday night that this was the one we wanted. We were prepared to go as far as £100,000, but when you see a sheep like this you never know."

To think that with just 3,122 lambs you could buy yourself a Scottish parliament building.