Queen 'Regrets' Gordon Brown's Decision To Sell Gold Reserves (VIDEO)

WATCH: Queen 'Regrets' Gordon Brown's Decision To Sell Gold Reserves (VIDEO)

Where's all my gold gone? The Queen wanted to know on Tuesday afternoon.

As Her Majesty made her way down the line of assembled ministers during her historic visit to cabinet today, she stopped to have a chat with George Osborne.

The Queen spoke to the chancellor about her recent visit to the Bank of England. "I saw all the gold bars," she said. "Which regrettably somebody said don't belong to us."

Osborne replied: "Some of them were sold, but we've still got some left."

Gordon Brown famously sold 400 tonnes of Britain's gold reserves for £2bn in 1999 - a decision subsequently heavily criticised by Osborne, who said it was sold at too low a price.

The chancellor will have been delighted to engage in a bit of Brown-bashing with the monarch.

The Queen visited the Banks of England last week and saw lots of gold

The cameras were also given the unusual opportunity to film some of the cabinet proceedings, including leader of the Commons Sir George Young informing colleagues about the business of the House.

Introducing the meeting, Cameron said the last time a monarch had sat in on a cabinet session was in 1781 during the American war of independence.

"I am happy to report relations have improved slightly since then, and I am going to be speaking to president Obama later this afternoon," the prime minister said.

The Queen, who famously asked "why did nobody notice it?" four years ago during a discussion on the 2008 financial crash, suggested last week that the financial services authority (FSA) had become a bit "complacent" before the crisis.

"People had got a bit... lax, had they?" she asked in regards to the banking regulators.

"A lot was going on under the surface that perhaps regulators weren't so focussed on," one of the bank's economists responded.

"The Financial Services - what do they call themselves, the regulators - Authority, which was really quite new... it didn't have any teeth," she replied.

Touring with the Duke of Edinburgh, the royal again asked why no one predicted the 2008 financial crash and subsequent downturn.


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