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REPORT COPYRIGHT VIOLATION IN REPLY
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US stock futures waaaaaay down DOOM ON
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Poster Handle
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Saddletramp |
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...I wanted to ask you saddletramp, what your thoughts on the Queeen of England were regarding her tour of the Gold vaults and declaring that it's "all" there...........see. Could the 11 countries that are committed to the implementation of the Basel 3 accord change the tier asset category for Gold from a tier-3 (50% weighting to their balance sheets as an asset) to a tier-1 (100% weighting on the balance sheets) on about the first of January ? Something is up with Gold.........I smell it ! Sooner or later they are going to deploy that Gold they have been hoarding all while poo-pooing it. From Yahoo News AS ONE of 11 Basel Committee on Banking Supervision member countries, South Africa would be ready to implement tougher capital adequacy reforms for banks from next month. Africa’s largest economy has finalised its rules, which were submitted to Finance Minister Pravin Gordhan for approval. The country’s banks join those from Japan, Switzerland and Singapore, among others, that have also raised their capital buffers, the Basel Committee said last week in a progress report. The report was issued after the committee met last Thursday and Friday to discuss the progress of its members in implementing capital adequacy reforms, which are meant to strengthen bank balance sheets. The reforms require global banks to at least triple their capital buffers in stages until 2019. [ link to za.news.yahoo.com] Quoting: Anonymous Coward 28621700 Basel III is going to be a bigger driver in the economy than Basel II mark to market was in 2008! Some of these banks are going to have to undergo massive deleveraging to get to Basel III standards, and you are right, they are going to have to buy at least enough Tier I assets, like gold and liquid AAA securities and equities to operate for one month in the event that all credit to the bank is "cut off". Sounds a bit like they are planning for something... I think the Queen's tour of the gold vaults on TV was for public consumption, to convince them that they do indeed have some gold still in the vaults when currencies begin to swing from fiat to commodity backed currencies...at a discount from the old fiat currencies of course, ($200 old for $100 new, or something like that). The Queen's tour was a bit too much like the Fed's surprise audit of their gold holdings last year for comfort... Thanks Saddletramp as you have been in the company of bankers your opinion hold alot of weight with me. Thanks again !  Indeed, if this is what you were implying, it seems to me that this would fleece a lot of their own. The .99% sacked for the .001% Well what you have to understand is this, the Elite own 90 to 95% of the commodities, energy reserves, real estate, etc that they will be baseing any currency backing on, so what they lose in "Currency", they will more than make up for on the other end... The ones who will really lose is the savers, the people with Pensions or Retirement Accounts, Fixed Income people, people working a job for a salary... And this system has always been built on the Trillionaires, eat the Billionaires, who eat the Millionaires, it's a constant funnel from the bottom to the top, it used to be that it trickled back down (after the top kept a percentage of course), but now even that has been broken...it's just all straight to the top now...
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