As of this month, you can use Gold as money worldwide.. Basel III is now active.

123°
Analyst
alienteck

Its a start that you can now use Gold to settle international trade.. When people can do it as well , then there will be huge changes..

This revolution is called “Basel III”, and it was made by the Bank for International Settlements (BIS). Its essence is in the following: BIS runs the IMF, and this, in turn, runs the central banks of all countries. The body of such control is called BCBS – the Basel Committee on Banking Supervision. It isn’t just some worthless US State Department or Congress of American senators. It’s not a stupid Pentagon, a little Department of the Treasury, which runs around like the CIA’s servant on standby, or a house of collective farmers with the name “White House”.

The Basel III decision meant that gold as a reserve of the third category was earlier estimated at 50% of its value on the balance sheets of world banks. At the same time, all owners of world money traded in gold not physically, but on paper, without the movement of real metal, the volume of which in the world wasn’t enough for real transactions. This was done in order to push down the price of gold, to keep it as low as possible. First of all, for the benefit of the dollar. After all, the dollar is tied to oil, which had to cost no less than the price of one gram of gold per barrel.

And now it was decided to place gold not in the third, but “just” in the first category. And it means that now it is possible to evaluate it not at 50, but at 100% of its value.

https://uprootedpalestinians.wordpress.com/2019...

8 Comments  |  
2 Dimers
  • Sort By
Helpful Helpful
Link Copied

I cannot get the essence of the wordpress article properly.
Can you please explain how BASEL3 would affect economy of our country and our currency and of world as well.

Analyst Analyst
Link Copied

Banks need reserves when they loan money. So they keep a certain portion of funds in reserve so in case of losses they can pay immediate demand for funds. Like when India ran out of foreign reserves it flew gold to London and sold it and paid of the creditors. But there are rules in international trade that banks need to keep a certain level in reserve to get credit lines. Before Gold was not considered an asset so it was worthless for any bank to hold it and then to provide liquidity Gold was worth 50% of its market value and now Gold is worth 100% of its value. So you don’t need to hold hard currency like dollars or pounds. You can directly hold Gold and offer it as collateral for all trade and obligations..

What this also means is, now Gold is valued at market rates, it is equivalent to money.. How can you tax money? And also why would hold your savings in any currency when Gold is valued at equivalent value.. Currency loses value.. Gold’s value depends on inflation.. So Gold will always be worth more as time goes by.. $$$ has lost over 98% of its value if you stored it under your mattress.. Rupee is in far worse shape..

View 6 more replies
replyuser
Click here to reply
Reply