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Basel III And Gold Reclassification Audits on June 28

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EDITOR NOTE: On June 28, 2021, audits making way for gold to officially regain its monetary status in the global banking system begin. This is the preparation for the implementation of BASEL III, an accord that tells banks how much capital they must hold to bolster their solvency and operational stability. Once gold becomes a Tier-1 asset--the term indicating assets of least risk--it will be considered “money” in the same way as cash and bonds. In short, banks will be able to hold bullion in their vaults. More importantly, once banks are able to choose between paper backed by the promises of a wasteful government and history’s most reliable store of value, most will realize that there isn’t much of a choice at all, particularly in the US, where inflation will have ravaged the dollar’s value and caused a dollar crisis. Not only are we witnessing gold’s reckoning on a global scale, but we’re also positioned at the launching point of one of gold’s most bullish periods--one that will not only impact banks but also institutional and individual investors as well. Not familiar with BASEL III? This video sums it up quite clearly.

Alasdair Macleod On Basel III, LBMA, Gold and A Dollar Crisis. Alasdair has been a celebrated stockbroker and Member of the London Stock Exchange for over four decades. His experience encompasses equity and bond markets, fund management, corporate finance and investment strategy.

Originally posted on Junius Maltby

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