China remains a small player on the international gold scene, but that’s about to change, and that’s good news for those betting on higher gold prices.You see, currently China’s gold investors hav...
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Tracking all things that relate to and affect the price of gold.
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Hal
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Scooped by Hal onto Gold and What Moves it. |
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My Dear Friends, The entire reason for the agreed delay of the Basel Three liquidity requirements is the Western financial system’s balance sheets. They are cartoons because of FASB blessing of debatable values for paper assets such as OTC derivatives with absolutely no market relationship.
Put succinctly, the Western world financial system simply does not have the ability in terms of real liquidity to meet Basel Three requirements. That is the entire story. The tomes written on this should be but one line – bankrupts cannot meet liquidity requirement now or in two years from now.
Add this to the news that a derivative dealer out of Citi has been proposed as Secretary of the US Treasury and my conclusion is that in truth, "Father forgive them because they (our esteemed leaders) really do not know what they have gone and done."
Respectfully,
Hal's insight:
Heed Jim Sinclair. Delete the scoop?
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"The United States now has a system in which the Treasury runs huge deficits and sells bonds to keep from going broke. The Fed prints money to buy those bonds and loses money owning them. Then the Treasury takes IOUs back from the Fed to keep the Fed from going broke. This arrangement resembles two drunks leaning on each other so neither one falls down. Today, with its 50-to-1 leverage and investment in volatile securities, the Fed looks more like a poorly run hedge fund than a central bank." - James G. Rickards on King World News.
Please go read the full post. It's information you need to make decisions in this economy. Delete the scoop?
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