At the start of the British pound it was equivalent to one pound of fine silver (14.583 troy ounces). Based on the current chart for silver denominated in British Pounds, the price is about to take out 20 pounds per troy ounce. This means that 14.583 troy ounces will now cost 291.66 pounds of their paper money. Previously the Kings, and now for the last 400 years, the moneychangers (London Banks) have devalued their currency by 99.7%.

http://www.silverseek.com/images/back2.PNG" height="20" width="206"> British Sterling Silver Chart