Basel III compliance?

[Bill49]

What consequences arise should a central bank (e.g. US Fed ) fail to meet 2024 Basel III terms?

 

[ZackP]

I hate to say, nothing.

I watched some video by Andrew Maguire about banks needing to comply with Basel III and by end of the year all bunch of new rules regarding banks holdings will come to effect. Gold moving to be tier I or most appreciated holding while currencies and treasury bills moving down the ladder. I bought extra metals mid June because Basel III conference was scheduled for end of June.

That was June 2022! Implementation in January 2023. So what happened? Not a damn thing. It fizzled. That is how I see it. We are now in January 2024 and true, banks purchased about 1000 tonnes of gold during 2023 but nothing dramatic happened. Banking system is f....d up more than ever before. Few banks in US went under but dramatic increase of value of gold did not materialize. I know, I know, it's about $2073 right no, but month and half ago it was $1840.

So I did not sell what I got and will not sell any time soon but after 4-5 years being involved with precious metals I am sick and tired of manipulation. I can only imagine how people involved in precious metals for 10-20 years feel. Basel or no Basel that is "feel good" conference where they smoke cigars and drink expensive whiskey on the rocks blabbing endlessly about money. Everybody shows up in private jets and I pay carbon tax in Canada. I have to stop, this is not good for my health.

 

[AlM]

The shifting of the plates feels slow, but people over the holidays really seem to be worried about huge changes happening socially, financially and even geopolitically. It used to be just sports and soaps. That's in every country I've visited this year and 2024 may be the watershed, catalysed by all the elections globally. Kinesis affords portable protection.