https://www.zerohedge.com/news/2019-03-17/jay-taylor-under-basel-iii-rules-gold-becomes-money
As a tier 1 asset banks can hold gold as 100% of its value. If the gold prices rises substantially the banks can improve currently failing balance sheets by netting off debts/losses to gold as a revalued asset.This is the first time since 1978 that gold has been officially a money tier 1 asset for banks.
Expect gold price to move a lot higher along with silver, inflation, interest rates and velocity of money. Only bonds will price lower.
This goes in to effect end of this month.
JFI
https://www.zerohedge.com/news/2019-03-17/jay-taylor-under-basel-...
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