Going for gold! Douglas Carswell lifts the lid on being paid by precious metal

Written by David Singleton on 15 August 2016 in Diary
Diary

Is it really because the Ukip MEP is so financially responsible?

Ukip’s Douglas Carswell has told how he has been paid in gold for adverts on his blog.

The revelation about the MP for Clacton was included in a recent article in Campaign magazine which quoted one of Carswell’s business partners.

Jag Singh, the founder of political advertising agency MessageSpace, told the respected advertising and marketing title:

“The quirk about Douglas is that because he is such a fiscally responsible person, he wants payment in gold. Every month instead of sending him a wire transfer, we are sending him a gold nugget.”

Carswell’s preferred method of payment could yet prove to be a wise move by the Austrian-schooled economist and former fund manager.

The precious metal is seen as a safe option during times of economic uncertainty and currency fluctuations.  Britain’s vote to exit the European Union prompted the biggest surge for the metal since the 2008 financial crisis, with the price up almost 20% in the hours the followed.

But investing in gold is not without risk and a recent article on Time.com stated that "buying gold is a fool's game, even in Brexit panic".

There were also unforeseen consequences when then US president Richard Nixon suspended the convertibility of the dollar into gold. The so-called 'Nixon shock' was triggered 45 years ago today - as noted by Carswell on Twitter.

 

 

 

 

 

So just how serious is the Ukip MP about being paid by the precious metal? Alas, Carswell suggests that he won’t be asking the House of Commons authorities to pay him in gold any time soon.

“I used to work in fund management, this was not a serious investment or monetisation strategy, it was a tongue-in-cheek joke,” he tells Total Politics.

“I think he initially offered to pay me with a laptop or something. I said actually when the equivalent amount of money to a half gold sovereign has been reached, why don’t you given me a half gold sovereign.

“It was more for comic entertainment value, but I do recall I’ve been given a half gold sovereign by MessageSpace.”

 

 

Photo by Press Association.

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