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What are your thoughts on Basel 3? Will we have free gold?


GSPros
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I think that Basel 3 is a step in the process of liberating gold from the western oligopoly. My price target for end of January 2022, when the LBMA will have complied for a month, is $2350 gold.

 

What do you think happens?

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TheWainer
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Posted by: @gspros

I think that Basel 3 is a step in the process of liberating gold from the western oligopoly. My price target for end of January 2022, when the LBMA will have complied for a month, is $2350 gold.

 

What do you think happens?

The beatings shall continue until morale improves.  I've been stacking for so long now I didn't expect a big updraft in prices from Basel III.  I didn't expect it to go down though either.  Regardless, the fundamentals for buying silver have not changed and I take any price dips as temporary sale opportunities.  The US debt is still 28-29 trillion, the Fed is printing so fast ink cartridges are melting.  Food prices and real non faux CPI inflation can be seen daily whether at the gas pump or grocery store.  So am not slowing down my stacking and will be patient as always.  Patience does pay off, but you may have to watch 2 tie cricket matches for days on end to get there.  So be it, even if it doesn't go up I consider each coin (or Geiger Bar) a little piece of art as well as silver.  People buy brass statues and enjoy them.  I enjoy the coins artwork as well as their numismatic value.  

If you're a new silver buyer, don't get discouraged.  This is not the land of 400% overnight gains.  But it is the land of your fiat value not disappearing into the void of inflation.  

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Chris
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It sure feels like there's something going on. I guess we'll find out in about a week what it is... but it feels like the bankers are panicking...

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nosrekcinsirhc
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@chris here is my question.  If you were one of these banks that would have to apply the BASEL 3 rules, wouldn't you want to beat the other banks in applying those rules so that you wouldn't be the one caught with your pants down?   You know, be first to the party and get dibs on the guacamole and 3 cheese dip.  If I was a country or a big bank, I would be buying the crap out of gold and silver so that I geld all the cards when the chips fell(currency).

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Chris
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@nosrekcinsirhc that could well be possible. I just don't think many know for sure what exactly the banks are doing behind closed doors.

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TheWainer
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Nosrekci... isn't JP Morgan already at the party?  I thought they had already gathered up all the silver poker chips they could already.  I am positive the Russian banks and Chinese banks, both central and commerical, have been buying PM's as fast as they can.  And once COVID in India settles down, I expect higher buying out of India as well.  The only thing that I don't get is Canada not having reserves, as Germany and Poland are drawing down their New York based bullion.  I'm not a fan of JP Morgan's trading tactics but I have a feeling their stock price is going to do quite well even if other large Western trading banks are slow to join the physical in the vault gang.  Have any English banks been gathering bullion?  Logically with Basel III impacting LBMA they would be adding as well. I'm a stacker at heart and don't understand the incomprehensible market manipulator moves but I agree with your basic premise.  I am certain many large banks have been slowly gathering PM's while these rigged prices are still in fantasy land.  

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