Could the reason for bassel 3's decision about gold is because the "group over groups" do not want to expose their gold to market forces? It would be better to risk fake money, btc, because it's worthless.
Are there any other possible reasons — however unlikely — for why the ECB has further delayed the matter, or is “not being solvent from an NSFR perspective” truly the only explanation worth considering?
Greece: Funny, I have not been giving the Euro zone too much thought in that perspective. Sometimes it's better to sweep the sidewalk in front of your own house first. (I was "wasting" time on the US and Japan.) I recall when Greece tried to sink the Euro, but see it more clearly today. Even today, Greece, Italy, Spain and Portugal - the usual suspects (let's not forget France...) are still walking a fine line. Good for me that you brought this up, I think I would not have seen it, even had it ran up and bit me on the ass...
Posted this comment to a previous article, it fits well here also. Basel 3 moves gold to a tier 1 asset. The Basel 3 standards were first published in 2010 with implementation scheduled for 2017. It was delayed multiple times including this year. That is not that uncommon. Basel 4 standards have already been released and also delayed. The first Basel standard and Basel 2 also were delayed before implemented. They release the standards with a long time period before (first) implementation so banks (and regulators) can do their work to prepare systems and train for them. They delay for real reasons and also politicized ones. Remember that the standards are set predominantly by global public regulators with consultation with other bureaucrats. All of these people enjoy intl travel and meetings in Europe and other locations around the world. The implementation does not affect their pay or job, there is no incentive for speed or timeliness. Basel 3 will come (eventually) and Basel 4 is waiting in the wings. Which also means Basel 5 is probably deep in discussions with intl meetings are already ongoing.
Could the reason for bassel 3's decision about gold is because the "group over groups" do not want to expose their gold to market forces? It would be better to risk fake money, btc, because it's worthless.
Meanwhile the east is accumulating.
Are there any other possible reasons — however unlikely — for why the ECB has further delayed the matter, or is “not being solvent from an NSFR perspective” truly the only explanation worth considering?
Greece: Funny, I have not been giving the Euro zone too much thought in that perspective. Sometimes it's better to sweep the sidewalk in front of your own house first. (I was "wasting" time on the US and Japan.) I recall when Greece tried to sink the Euro, but see it more clearly today. Even today, Greece, Italy, Spain and Portugal - the usual suspects (let's not forget France...) are still walking a fine line. Good for me that you brought this up, I think I would not have seen it, even had it ran up and bit me on the ass...
Posted this comment to a previous article, it fits well here also. Basel 3 moves gold to a tier 1 asset. The Basel 3 standards were first published in 2010 with implementation scheduled for 2017. It was delayed multiple times including this year. That is not that uncommon. Basel 4 standards have already been released and also delayed. The first Basel standard and Basel 2 also were delayed before implemented. They release the standards with a long time period before (first) implementation so banks (and regulators) can do their work to prepare systems and train for them. They delay for real reasons and also politicized ones. Remember that the standards are set predominantly by global public regulators with consultation with other bureaucrats. All of these people enjoy intl travel and meetings in Europe and other locations around the world. The implementation does not affect their pay or job, there is no incentive for speed or timeliness. Basel 3 will come (eventually) and Basel 4 is waiting in the wings. Which also means Basel 5 is probably deep in discussions with intl meetings are already ongoing.
Example of optimistic timeline - https://www.fsb.org/work-of-the-fsb/implementation-monitoring/monitoring-of-priority-areas/basel-iii/