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“A Shift Towards a Gold Standard”? The FDIC-Fed’s “Proposed Rulemaking” regarding Basel III Capital Requirements

by Bryant Brown
Global Research

In early August, the FDIC1 and the Fed2 issued a “Notice of Proposed Rulemaking” stating that it intends to adopt the Basel III3 capital requirements. The document is 250 pages long and is available on line;

It is important to analyze the potential implications of this document. Previous actions of the Basel Committee have had significant impact.

One commentator summarized this pending rule change this way; ‘If this new rule is adopted as proposed, gold would shift… by the year 2015… (to) eventually place gold at the heart of global currency and payment systems — seemingly a shift back towards a gold standard. This action is a strong confirmation that gold’s primary trend will likely continue.’

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