K92 Mining Inc T.KNT

the semantics row re: "tier 1 asset"

[BlindBoy]

A couple of days ago, former City of London trader Maneco 64 attacked LME wholesale gold trader Andrew Maguire's position that gold would become a "Tier 1" asset by the BIS.  Maneco presented an email response that he had received from the BIS as his argument.

Former auditor, Rob Kientz, dug into this matter at depth, with documentation from the BIS.  Rob's conclusion, is that the BIS sews confusion through their wording in various parts of the documentation passages, and that physical gold will be treated the same as the rest of the top level BIS assets. 

Maneco 64 has now posted a clarification video, where he backs off on his previous position considerably.

Rob's deeper dive:  https://www.youtube.com/watch?v=O9zDO4Mc_iw

[merlin991]

Thanks BB. The real question is about unallocated gold because that is where the criminality lies. That allows the metal exchanges to cheat and manipulate prices.  The ultimate purpose of gold is as an insurance for the fiat currency. Currency debasement means some anchor is required which is really what BIS and Basel iii is about.    We are back in the 1970's and there are