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Jay Taylor: Under "Basel III" Rules, Gold Becomes Money! (March 29)

 
Anonymous Coward
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03/27/2019 09:36 AM
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Jay Taylor: Under "Basel III" Rules, Gold Becomes Money! (March 29)
The Bank for International Settlements (BIS), located in Basal, Switzerland, is often referred to as the central bankers’ bank. Related to this issue of central bank hoarding of gold is the fact that on March 29 the BIS will permit central banks to count the physical gold it holds (marked to market) as a reserve asset just the same as it allows cash and sovereign debt instruments to be counted.

There has been a long-term view that China and other nations dishoarding dollars in favor of gold have been quite happy about western banks trashing the gold price through the synthetic paper markets. But one has to wonder if that might not change, once physical gold is marked to market for the sake of enlarging bank balance sheets.
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Miles2Go

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03/27/2019 11:31 AM

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Re: Jay Taylor: Under "Basel III" Rules, Gold Becomes Money! (March 29)
interesting. but I put my money in food first
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Anonymous Coward
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04/10/2019 10:03 AM
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Re: Jay Taylor: Under "Basel III" Rules, Gold Becomes Money! (March 29)
why is the decision of Basel a revolution?

Because from the autumn the financial flood in the world economy will begin. It will entail the acceleration of Russia and China’s isolation from the dollar system and the crash of the economies that completely depend on the dollar – the vassal countries of the US. It will be worst of all for them. And this means that the reasons for increased distancing between the EU and the US will increase in number manyfold.
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siren2
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04/10/2019 10:10 AM
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Re: Jay Taylor: Under "Basel III" Rules, Gold Becomes Money! (March 29)
Gold has always been money. It is just not convenient.

Now that central banks can recognize the full value of gold for the asset side of their individual balance sheets they will be able to print more money.

The OP completely misunderstands the nature of banks. He understands gold, but doesn't recognize that we are going to enter hyperinflation with the blessing of the BIS.

I'm not saying that you shouldn't own gold, you should. I am saying that fiat printing is about to be unleashed in unheard of before amounts.

Prepare accordingly.