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Join date : 2021-05-30

Basel 3 rules on paper metals market - how will this affect prices of precious metals Empty Basel 3 rules on paper metals market - how will this affect prices of precious metals

Fri Jun 04, 2021 2:20 pm
Hello all,

Just wondered what you all thought about the forthcoming Basel 3 rules (ie this proposal covers the paper metals market).

This proposal requires organisations to have extra steps in place when dealing with paper metals (eg ETF, Futures etc).  To cut a long story short, if the proposals go thru, gold/silver price suppression will become extremely hard to perform (almost illegal).  Can you imagine?? No more price manipulation from the likes of JP Morgan and HSBC.  Precious metal prices will shoot thru the roof!

The LBMA (London Bullion Market Association) is the largest gold and silver trading platform in the world.  It trades about $5 trillion annually.  Last week, the LBMA warned the Bank of England, quote "Basel 3 rules will wreck gold price suppression"......

The current schedule for full Implementation is:

28 Jun 2021 - Banks in Continental Europe

1 Jan 2022 - British Banks

1 Jan 2023 - All changes become effective



Personally, I bet they will kick the can further down the road as usual.  What do you guys think?  Who would love to see gold/silver prices go to the moon?  Good / bad points?
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