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01/03/19

13:59

Post #: 37621240
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Originally posted by Shikari: ↑

Canada’s top financial regulator, the Office of the Superintendent of Financial Institutions (OSFI), confirmed early last year that 2019 will be the first full calendar year that the Basel III rules will be enforced. Gold held in an institution’s vault(s), or held in trust (i.e., monetary gold) now qualifies as “a 0% risk weighting for risk-based capital purposes.” The Bank for International Settlements has posted these reforms on its website. Canadian banks are now free to add monetary gold to their increased reserve positions, and to treat it in the same as they would cash or AAA-rated government bonds. On January 31 of this year, the World Gold Council revealed that global central banks, in response to the Basel III rule changes and growing political and market uncertainty, added 651 metric tonnes of gold to their reserves in 2018.

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The only global central banks that added gold in 2018 were dictatorships. Why do you think that is?
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