“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; http://www.federalreserve.gov/newsevents/press/bcreg/bcreg20120607a1.pdf

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.’

Continue Reading at GlobalResearch.ca…

Add Comment Register



Leave a Reply