This is very interesting…. The FDIC is putting a 0% risk weight to Gold and seems to be encouraging banks to increase gold reserves by doing so… just do a simple ctrl F search on this link and read the areas related to it.. Interesting and informative read of very telling signs.
Very interesting ich1baN. I thought I heard a small blurb on this a short time ago. I notice they didn’t mention silver or any other precious metal as zero risk. This is fascinating as gold has very little industrial use. Well, if they convince the banks to start buying some, silver should follow if only by the common man. Great post.
GOLD = teir 1
Gotta love that.
If Gold is down some again Monday I’m going to go get another Buffalo!
This is indeed very interesting… I saw this mentioned today at this site:
http://www.valuewalk.com/2012/06/gold-could-be-classified-as-risk-free-asset-by-bank-regulators/
…it says “…unencumbered gold bullion is to be classified as zero risk…” which suggests to me that the rule may reveal more about what bank gold is encumbered and what is not… also:
“…as I wrote in The Canary in the Gold Mine, if gold is re-classified as a
zero-risk-weighted asset, “the price is likely to soar to a new,
all-time high.” I stand by that statement. In about six months we will
know whether I am right…”, I think he is timing this by the date at which the proposal may become adopted…