This is an important precious metals update by Tom Cloud. Tom first discusses how banks are buying more gold because it was raised to a Tier 1 asset on the bank’s balance sheet. It’s not just Central Banks buying gold, it’s also smaller regional banks as well.
Tom also discusses what he is hearing about in the precious metals wholesale market. He discusses new buyers coming in with very large preliminary orders. Also, the wholesalers are warning of possible big delays this fall for certain precious metals products.
Lastly, if you haven’t checked out our new PRECIOUS METALS INVESTING page, I highly recommend you do.
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His web site; to my knowledge this URL never presented here.
http://cloudhardassets.com/
What is your take on this ? – http://sgtreport.com/2016/05/how-does-comex-fix-this-one/
When was gold raised to a Tier #1 asset?
I hadn’t heard that.
That’s a good question. It was talked about in 2011 and 2012. Use a search engine to ask that question and no definitive answer comes back.
That’s the first I have heard of it as if it is so.
I looked but could not find. Hype? Not good for credibility if hype.
Gold has been declared a tier1 asset within the Basel III agreement.
They removed that from B3.
*All the articles on gold as a possible tier 1 possible asset are old articles. They are not
clear on that from a brief read, and there is no new news on that subject. If banks [in
addition to central banks] are starting to buy gold it is not becasue it just became a
tier 1 asset…because however it is classified in banking’s inner circles, it didn’t change
status recently. Unless that has been kept off of the internet. Banks that recently started
buying are doing so becasue they see the risk in the system, are hedging against their
own business practices…or the elites in the bank buying the gold plan to abscond with
the gold when the system goes to hell.
Let’s get real here. The depositors/stockholders of the banks are unlikely to ever touch or see any benefit from the institution’s gold accumulation.
gold’s current status
“phased in” from 2013 to 2019.
One listed it as being