Excuse the intrusion, you did fine wipper, interesting post guys.
The latest growth in the banking system is below the CB's - in the banks. I hear they are loading up and the reason I have already published is that gold is highly likely to become a Tier 1 financial asset.
I had heard about banks buying gold off market few years back however this must be increasing now. You might find corporations doing it too as a currency hedge.
As such we may find gold becomes the friend of the banking industry when used for collateral requirements under Basel3. Who knows they may even pressure the price upwards in future to maintain reserve ratios - that would be fun.
With many toxic assets on their book price at 'mark to fantasy' this can become a useful tool for the entire system. We shall see. Euro banks loaded with fresh capital losses via sovereign bond purchases is adding to the pressure IMO.
We may be able to borrow against our bullion in future to buy undervalued assets.
