Loading ...Basel 3’s gold rules start Monday but it probably won’t be the day of deliverance
Submitted by admin on Thu, 2021-06-24 13:46 Section: Daily Dispatches
1:54p ET Thursday, June 24, 2021
Dear Friend of GATA and Gold:
Many people involved with the monetary metals may be eagerly awaiting Monday, when the “Basel 3” regulations on unallocated gold held by bullion banks take effect in the European Union, supposedly making the unallocated business prohibitively expensive.
Of course there are great hopes that implementation of the rules will begin to explode the fraud of “paper gold” by which gold’s price long has been suppressed with the assistance of central banks.
But Monday doesn’t seem likely to be the day of deliverance.