Bullboard - Stock Discussion Forum Scorpio Gold Corp V.SGN

Alternate Symbol(s): SRCRF

Metals & Mining Gold

Scorpio Gold Corporation is a Canada-based company, which holds 100% interest in two past producing mines, the Manhattan Mine and the Mineral Ridge Mine, both located in the Walker Lane Trend of Nevada, United States. The Company's Manhattan District comprises the advanced exploration-stage Goldwedge Project, with an approximately 400 ton per day gravity mill. Adjacent to Goldwedge is the 4,300... see more

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Scorpio Gold Corp > I'll try explain Basel 3

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Post by silverT on Nov 23, 2021 9:17pm

I'll try explain Basel 3

The Bank for International Settlements is an international financial institution owned by central banks that "fosters international monetary and financial cooperation and serves as a bank for central banks".

First announced in 2017, the Basel III rules apply to banks operating in the US, the European Union and Switzerland since the end of June 2020. ... Under the new rules, banks are required to hold physical gold or other liquid assets for an amount equal to at least 85% of the value of unallocated gold on their books.Jul. 19, 2021

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Comment by silverT on Nov 23, 2021 9:33pm

So , I want to mention a few other things. Basel 3 is to take effect Jan 1st 2022 . The LBMA and Comex deal in unalocated gold to the tune of 200 or 250 to ! which means for every oz of real gold they buy sell trade 200 to 250 paper oz . The USA more than any other country would like you to believe the dollar is monep it is not nor is any other currency , it's just fiat an IOU. There are ...more

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