OTCPK:PGMFF - Post by User
Comment by
DRYOASISon Jun 07, 2021 9:16am
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Post# 33339147
RE:RE:RE:Basel 3 driving up gold prices and gold stocks with it
RE:RE:RE:Basel 3 driving up gold prices and gold stocks with it Yes exactly, gold moving from a Tier-3 asset to a Tier-1 asset means gold In unallocated paper contracts will no longer be considered an equal asset. The way I see it, banks with be left with 2 choices, convince their customers to sell their paper gold holdings (which will not happen) or buy the physical gold that's needed to backup paper gold certificates held by their clients.
One more option wiould be to close-up shop if banks can't meet the new requirements.