Frankn
Gold Member
- #1
Thread Owner
GOLD, WHAT'S MOVING IT ?*********
WONDER WHAT IS MAKING GOLD MOVE UP LATELY? Well I ran into this article in the Pick & Shovel Gazette. Feb/March'13. " Is that good enough Ben?"
There is an obscure governing body that creates standards for the worlds central banks. It is called the Basel Committee on Banking. One of there decisions was to classify gold bullion as a tier 1 asset. This decision is called Basel III. Banks must hold 4.5% of common equity and 6% of assets in Tier 1 capital. In effect they are switching from paper money to gold bullion for this purpose. As a result, South Korea has purchased 40 TONS of gold from March '09 to present. Turkey has purchased 123 TONS of gold since October '11. Mexico has purchased over 100 TONS . Russia has purchased 911.3 TONS. etc. Frank
WONDER WHAT IS MAKING GOLD MOVE UP LATELY? Well I ran into this article in the Pick & Shovel Gazette. Feb/March'13. " Is that good enough Ben?"
There is an obscure governing body that creates standards for the worlds central banks. It is called the Basel Committee on Banking. One of there decisions was to classify gold bullion as a tier 1 asset. This decision is called Basel III. Banks must hold 4.5% of common equity and 6% of assets in Tier 1 capital. In effect they are switching from paper money to gold bullion for this purpose. As a result, South Korea has purchased 40 TONS of gold from March '09 to present. Turkey has purchased 123 TONS of gold since October '11. Mexico has purchased over 100 TONS . Russia has purchased 911.3 TONS. etc. Frank
