Saturday, November 10, 2012

Gold about to become a "1st Class Asset"


Little known fact...few have even heard of the Council of Basel (aka The Basel Banking Syndicate). Basel III is about to go into effect on January 1, 2013. Gold to be increased from a 3rd Class asset (only able to loan 50% of value as collateral for loans) to a 1st Class Asset (able to use 100% as collateral for loans (same as government securities). This is why central banks, formerly the enemies of gold, have been for the past 2+ years, been net buyers of gold bullion. Each year, the number of tons of gold bought by the central banks is increasing. Gold is about to be treated the same as "money" by the bankers. BIG shift. Just thought I would let you guys know...fore warned is fore armed.

1 comment:

  1. Perhaps the central bankers are preparing for the next move up in gold, which is likely to be massive, based on my understanding of the charts and the monetary disaster of fiat currencies that seems poised to unfold.

    Thanks for sharing as I was unaware of the asset class revision!


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